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South African (JSE) Energy Sector Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies2
  • 7D-0.01%
  • 3M15.4%
  • 1Y15.3%
  • YTD7.7%

In the last week, Energy has been flat. The past year has been better, since the industry has gained 15% in that time. Looking forward, earnings are forecast to decline by 4.7% per year.

Sector Valuation and Performance

Has the South African Energy Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026R60.0bR75.9bR10.7b5.5x5.6x0.8x
Sun, 25 Jan 2026R58.8bR75.9bR10.7b5.4x5.5x0.8x
Tue, 23 Dec 2025R55.9bR76.0bR10.4b5x5.4x0.7x
Thu, 20 Nov 2025R55.4bR76.0bR10.4b4.6x5.3x0.7x
Sat, 18 Oct 2025R54.1bR76.0bR10.5b4.6x5.2x0.7x
Mon, 15 Sep 2025R57.2bR76.0bR10.5b4.9x5.5x0.8x
Wed, 13 Aug 2025R54.4bR76.4bR11.1b4.3x4.9x0.7x
Fri, 11 Jul 2025R54.4bR76.4bR11.1b4.3x4.9x0.7x
Sun, 08 Jun 2025R50.1bR76.4bR11.1b4x4.5x0.7x
Tue, 06 May 2025R50.0bR76.4bR11.1b4.1x4.5x0.7x
Thu, 03 Apr 2025R52.8bR76.3bR11.2b4.4x4.7x0.7x
Sat, 01 Mar 2025R53.7bR71.8bR12.3b4.3x4.4x0.7x
Mon, 27 Jan 2025R56.6bR71.8bR12.3b4.7x4.6x0.8x
Wed, 25 Dec 2024R57.2bR71.8bR12.3b4.7x4.7x0.8x
Fri, 22 Nov 2024R61.2bR71.8bR12.3b5x5x0.9x
Sun, 20 Oct 2024R58.7bR71.8bR12.3b4.7x4.8x0.8x
Tue, 17 Sep 2024R53.3bR71.8bR12.3b4.2x4.3x0.7x
Thu, 15 Aug 2024R62.3bR69.4bR16.3b3.6x3.8x0.9x
Sat, 13 Jul 2024R63.8bR69.4bR16.3b3.6x3.9x0.9x
Mon, 10 Jun 2024R61.1bR69.4bR16.3b3.5x3.7x0.9x
Wed, 08 May 2024R66.4bR69.4bR16.3b3.8x4.1x1x
Fri, 05 Apr 2024R61.9bR69.4bR16.4b3.6x3.8x0.9x
Sun, 03 Mar 2024R60.1bR82.0bR22.5b2.6x2.7x0.7x
Tue, 30 Jan 2024R63.8bR82.0bR22.5b2.7x2.8x0.8x
Thu, 28 Dec 2023R72.6bR82.0bR22.5b3.1x3.2x0.9x
Sat, 25 Nov 2023R69.2bR82.0bR22.5b3x3.1x0.8x
Mon, 23 Oct 2023R71.4bR81.9bR22.6b3.1x3.2x0.9x
Wed, 20 Sep 2023R67.4bR81.9bR22.6b2.9x3x0.8x
Fri, 18 Aug 2023R58.3bR97.1bR30.8b1.9x1.9x0.6x
Sun, 16 Jul 2023R61.2bR97.1bR30.8b2x2x0.6x
Tue, 13 Jun 2023R62.7bR97.1bR30.8b2x2x0.6x
Thu, 11 May 2023R68.4bR97.1bR30.8b2.2x2.2x0.7x
Sat, 08 Apr 2023R75.6bR97.1bR30.8b2.5x2.5x0.8x
Mon, 06 Mar 2023R80.9bR82.4bR27.8b2.9x2.9x1x
Price to Earnings Ratio

2.9x


Total Market Cap: R80.9bTotal Earnings: R27.8bTotal Revenue: R82.4bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Energy Sector Price to Earnings3Y Average 3.9x202420252026
Current Industry PE
    There are only 2 companies in the South African Energy industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 27% per year over the last three years,
  • Revenues have also declined 2.7% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the South African Energy sector?

ZA Market3.25%
Energy-0.01%
Oil and Gas-0.01%
Industry PE
  • Investors are most optimistic about the Oil and Gas industry which is trading above its 3-year average PE ratio of 3.9x.
    • Analysts are expecting annual earnings decline of 4.7%, which is less than its past year's earnings decline of 17.0%.
  • Investors are most pessimistic about the Oil and Gas industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 3.9x.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Oil and Gas industry since they expect its earnings to decline by only 4.7% per year over the next 5 years, which isn't as bad as the other industries.
  • This is an improvement from its past earnings decline of 17% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings decline by 4.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
EXX Exxaro ResourcesR197.803.3%
+R1.5b		26.9%PE5.8x
TGA Thungela ResourcesR111.062.4%
+R336.0m		0.7%PE5.6x

Latest News

EXX
R197.80
Exxaro Resources
7D
3.3%
1Y
26.9%
TGA
R111.06
Thungela Resources
7D
2.4%
1Y
0.7%

TGA: Higher 2025 Export Target Will Expose Overstretched Earnings Multiple

Analysts have trimmed their ZAR79.28 fair value estimate for Thungela Resources to ZAR75.50, citing updated assumptions around revenue trends, profitability and a lower forward P/E of about 31.70x. What's in the News Thungela Resources issued production guidance for full year 2025, targeting approximately 13.7 Mt of export saleable production (Key Developments).