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South African (JSE) Oil and Gas Industry Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies2
  • 7D0.7%
  • 3M-11.6%
  • 1Y7.4%
  • YTD8.6%

All of the companies in the Oil and Gas industry have been up over the last week, with the industry up 4.0%. This means that the industry has gained 14% over the past year. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

Has the South African Oil and Gas Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Jul 2026R59.4bR71.4bR479.0m6.2x123.9x0.8x
Thu, 18 Jun 2026R65.7bR71.4bR479.0m6.7x137.1x0.9x
Sat, 16 May 2026R65.6bR71.4bR479.0m6.5x137x0.9x
Mon, 13 Apr 2026R72.0bR71.4bR479.0m7x150.4x1x
Wed, 11 Mar 2026R68.0bR75.9bR10.7b6.8x6.3x0.9x
Fri, 06 Feb 2026R59.3bR75.9bR10.7b5.4x5.5x0.8x
Sun, 04 Jan 2026R57.0bR76.0bR10.4b5x5.5x0.7x
Tue, 02 Dec 2025R53.9bR76.0bR10.4b4.7x5.2x0.7x
Thu, 30 Oct 2025R53.5bR76.0bR10.5b4.5x5.1x0.7x
Sat, 27 Sep 2025R55.8bR76.0bR10.5b4.8x5.3x0.7x
Mon, 25 Aug 2025R59.1bR74.4bR10.0b5.3x5.9x0.8x
Wed, 23 Jul 2025R59.3bR76.4bR11.1b4.7x5.4x0.8x
Fri, 20 Jun 2025R49.0bR76.4bR11.1b3.9x4.4x0.6x
Sun, 18 May 2025R47.2bR76.4bR11.1b3.8x4.3x0.6x
Tue, 15 Apr 2025R50.1bR76.3bR11.2b4.1x4.5x0.7x
Thu, 13 Mar 2025R53.0bR71.8bR12.3b4.3x4.3x0.7x
Sat, 08 Feb 2025R60.9bR71.8bR12.3b4.9x5x0.8x
Mon, 06 Jan 2025R57.4bR71.8bR12.3b4.8x4.7x0.8x
Wed, 04 Dec 2024R59.6bR71.8bR12.3b4.8x4.9x0.8x
Fri, 01 Nov 2024R59.4bR71.8bR12.3b4.8x4.8x0.8x
Sun, 29 Sep 2024R57.6bR71.8bR12.3b4.4x4.7x0.8x
Tue, 27 Aug 2024R57.6bR71.8bR12.3b4.6x4.7x0.8x
Thu, 25 Jul 2024R64.0bR69.4bR16.3b3.6x3.9x0.9x
Sat, 22 Jun 2024R58.9bR69.4bR16.3b3.3x3.6x0.8x
Mon, 20 May 2024R63.9bR69.4bR16.3b3.7x3.9x0.9x
Wed, 17 Apr 2024R67.0bR69.4bR16.4b3.9x4.1x1x
Fri, 15 Mar 2024R56.1bR77.7bR22.4b2.4x2.5x0.7x
Sun, 11 Feb 2024R60.9bR82.0bR22.5b2.6x2.7x0.7x
Tue, 09 Jan 2024R69.0bR82.0bR22.5b2.9x3.1x0.8x
Thu, 07 Dec 2023R67.2bR82.0bR22.5b2.9x3x0.8x
Sat, 04 Nov 2023R73.5bR82.0bR22.5b3.1x3.3x0.9x
Mon, 02 Oct 2023R67.9bR81.9bR22.6b2.9x3x0.8x
Wed, 30 Aug 2023R64.3bR81.9bR22.6b2.7x2.8x0.8x
Fri, 28 Jul 2023R62.8bR97.1bR30.8b2x2x0.6x
Price to Earnings Ratio

2x


Total Market Cap: R62.8bTotal Earnings: R30.8bTotal Revenue: R97.1bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Oil and Gas Industry Price to Earnings3Y Average 18.3x202420252026
Current Industry PE
    There are only 2 companies in the South African Oil and Gas 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 Oil and Gas industry have declined 75% per year over the last three years,
  • Revenues have also declined 9.8% 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 industry?

ZA Market-1.49%
Energy0.67%
Oil and Gas0.67%
Coal and Fuels0.67%
Oil and Gas Exploration and Production0%0
Oil and Gas Storage and Transportation0%0
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 17.9x.
    • Analysts are expecting annual earnings growth of 15.9%, which is higher than its past year's earnings decline of 2.1% per year.
  • Investors are most pessimistic about the Coal and Fuels industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 17.9x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 2.1% per year.
  • In contrast, the Coal and Fuels industry is expected to see its earnings grow by 16% 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 ResourcesR201.231.4%
+R629.8m		11.5%PE6.2x
TGA Thungela ResourcesR101.082.8%
+R355.6m		-1.3%PS0.4x

Latest News

EXX
R201.23
Exxaro Resources
7D
1.4%
1Y
11.5%
Narrative Update • Jul 20

EXX: Higher Margins And Investor Day Insights Will Support Upside

Analysts have reduced their fair value estimate for Exxaro Resources from ZAR300.00 to ZAR275.00, citing updated assumptions regarding revenue growth, profit margins and future P/E levels. What’s in the News for Exxaro Resources Exxaro Resources held an Analyst/Investor Day, providing an opportunity for management to update the market on the business and its outlook for capital allocation, operations and portfolio priorities.
TGA
R101.08
Thungela Resources
7D
2.8%
1Y
-1.3%
Narrative Update • Jul 15

TGA: Higher Future P/E Assumptions Will Pressure Forward Equity Returns

Analysts have raised their price target for Thungela Resources from ZAR 55.00 to ZAR 60.00, citing updated fair value assumptions, a slightly lower discount rate, and revised expectations for revenue growth, profit margins, and future P/E levels. What's in the News No recent Thungela Resources specific news or key developments were identified in the provided sources.