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South African (JSE) Financials Sector Analysis

UpdatedSep 27, 2025
DataAggregated Company Financials
Companies36
  • 7D-2.9%
  • 3M-0.5%
  • 1Y-0.02%
  • YTD3.2%

Over the last 7 days, the Financials industry has dropped 2.9%, driven by a pullback from FirstRand of 3.3%. On the other hand Purple Group is actually up 13%. As for the longer term, the industry's performance has been flat for the past year. Looking forward, earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Sep 2025R2.3tR1.2tR222.3b8.8x10.5x1.9x
Tue, 26 Aug 2025R2.4tR1.2tR218.0b9.3x11.2x2.1x
Thu, 24 Jul 2025R2.4tR1.2tR215.5b8.6x10.9x2x
Sat, 21 Jun 2025R2.3tR1.2tR215.7b9.3x10.8x2x
Mon, 19 May 2025R2.4tR1.2tR216.0b9.4x10.9x2x
Wed, 16 Apr 2025R2.2tR1.2tR215.3b8.6x10.2x1.9x
Fri, 14 Mar 2025R2.2tR1.2tR207.8b10.1x10.7x1.9x
Sun, 09 Feb 2025R2.3tR1.1tR195.5b11.2x11.6x2x
Tue, 07 Jan 2025R2.3tR1.1tR195.8b11.6x11.9x2.1x
Thu, 05 Dec 2024R2.3tR1.1tR192.8b12.4x12.2x2.1x
Sat, 02 Nov 2024R2.3tR1.1tR190.9b11.1x12.2x2.1x
Mon, 30 Sep 2024R2.4tR1.1tR189.5b12.5x12.5x2.1x
Wed, 28 Aug 2024R2.3tR1.2tR181.1b10.7x12.6x1.9x
Fri, 26 Jul 2024R2.1tR1.2tR182.8b10x11.5x1.8x
Sun, 23 Jun 2024R2.1tR1.2tR182.4b9.8x11.4x1.7x
Tue, 21 May 2024R1.9tR1.2tR182.3b9.8x10.3x1.6x
Thu, 18 Apr 2024R1.7tR1.2tR181.0b9.1x9.2x1.4x
Sat, 16 Mar 2024R1.8tR1.2tR183.2b9.4x9.9x1.5x
Mon, 12 Feb 2024R1.9tR1.2tR178.5b9.7x10.4x1.6x
Wed, 10 Jan 2024R1.9tR1.2tR178.6b10.3x10.7x1.6x
Fri, 08 Dec 2023R1.8tR1.2tR178.9b10.1x10.3x1.6x
Sun, 05 Nov 2023R1.8tR1.2tR179.4b10.2x10.3x1.6x
Tue, 03 Oct 2023R1.8tR1.2tR179.8b9.9x9.9x1.5x
Thu, 31 Aug 2023R1.9tR1.0tR183.0b9.9x10.2x1.9x
Sat, 29 Jul 2023R1.9tR1.0tR175.4b10.4x10.8x1.9x
Mon, 26 Jun 2023R1.7tR1.0tR176.6b10.2x9.6x1.7x
Wed, 24 May 2023R1.6tR1.0tR178.9b9.3x8.9x1.6x
Fri, 21 Apr 2023R1.7tR1.0tR178.4b8.5x9.5x1.7x
Sun, 19 Mar 2023R1.7tR1.0tR180.4b8.7x9.2x1.6x
Tue, 14 Feb 2023R1.8tR1.1tR173.0b9.5x10.5x1.7x
Thu, 12 Jan 2023R1.8tR1.0tR172.3b9.4x10.2x1.7x
Sat, 10 Dec 2022R1.7tR1.1tR173.5b8.7x9.9x1.6x
Mon, 07 Nov 2022R1.8tR1.0tR174.9b8.8x10.1x1.7x
Wed, 05 Oct 2022R1.6tR1.0tR175.0b8.2x9.1x1.6x
Price to Earnings Ratio

9.1x


Total Market Cap: R1.6tTotal Earnings: R175.0bTotal Revenue: R1.0tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Financials Sector Price to Earnings3Y Average 10.6x202320242025
Current Industry PE
  • Investors are relatively neutral on the South African Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 10.6x.
  • The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 8.3% per year over the last three years.
  • Revenues for these companies have grown 6.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

ZA Market0.17%
Financials-2.94%
Mortgage Finance0%0
Banks-2.17%
Capital Markets-2.26%
Diversified Financial-2.97%
Insurance-4.52%
Consumer Finance-4.81%
Industry PE
  • Investors are most optimistic about the Consumer Finance industry even though it's trading below its 3-year average PE ratio of 152x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Capital Markets industry, which is trading below its 3-year average of 9.5x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 12% over the next 5 years.
  • However this is lower than its past earnings growth rate of 25% per year.
  • In contrast, the Capital Markets industry is expected to see its earnings grow by 7.9% 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
PPE Purple GroupR2.3312.6%
+R369.3m		194.9%PE69.7x
SBP Sabvest CapitalR111.924.7%
+R190.1m		34.8%PE5.1x
CLI ClientèleR14.142.5%
+R154.1m		13.1%PE6.1x
YYLBEE YeboYethu (RF)R40.005.3%
+R105.8m		60.0%PE0.9x
CTA Capital AppreciationR1.842.2%
+R46.8m		13.6%PE10.4x

Latest News

CLI
R14.14
Clientèle
7D
2.5%
1Y
13.1%
PPE
R2.33
Purple Group
7D
12.6%
1Y
194.9%

Why Investors Shouldn't Be Surprised By Purple Group Limited's (JSE:PPE) 27% Share Price Surge

Sep 26
Why Investors Shouldn't Be Surprised By Purple Group Limited's (JSE:PPE) 27% Share Price Surge
INL
R128.94
Investec Group
7D
-2.6%
1Y
-2.2%
DNB
R2.55
Deneb Investments
7D
2.0%
1Y
6.3%
OUT
R72.00
OUTsurance Group
7D
-9.2%
1Y
22.5%

Operational Adjustments Will Expand Market Opportunities In Australia And Ireland

Despite a notable downgrade in consensus revenue growth forecasts from 8.0% to 5.9% per annum, OUTsurance Group’s fair value estimate has been largely maintained, with the analyst price target seeing only a minor increase from ZAR81.22 to ZAR82.58. What's in the News OUTsurance Group expects EPS for the six months ended June 30, 2025, to be 297.4–313.3 cents; NEPS 299.8–313.6 cents; HEPS 290.3–304.1 cents.
MHB
R4.98
Mahube Infrastructure
7D
2.7%
1Y
1.6%
FSR
R78.32
FirstRand
7D
-3.3%
1Y
-7.7%

Lower Inflation And Political Stability Will Stimulate Credit Growth Opportunities

FirstRand’s future P/E multiple has decreased while its net profit margin has improved, supporting a marginal increase in the consensus analyst price target from ZAR88.49 to ZAR89.61. What's in the News FirstRand raised its full-year earnings guidance for FY2025, now expecting low double-digit to mid-teens earnings growth, above its long-term target of nominal GDP + 0–3%.
DSY
R192.10
Discovery
7D
-3.5%
1Y
11.6%
SBP
R111.92
Sabvest Capital
7D
4.7%
1Y
34.8%
SLM
R82.97
Sanlam
7D
-3.6%
1Y
-7.2%
CPI
R3,529.00
Capitec Bank Holdings
7D
-1.6%
1Y
14.0%

Business Banking And VAS Expansion Will Open New Markets

With both Capitec Bank Holdings' Future P/E and Net Profit Margin remaining stable, analysts have kept their consensus price target unchanged at ZAR3926. What's in the News Capitec Bank Holdings expects group headline earnings per share for the six months to 31 August 2025 to increase by 22% to 27% versus the prior period, reaching 6,764–7,041 cents.
SBK
R236.40
Standard Bank Group
7D
-3.1%
1Y
-4.1%

Digital Expansion And African Markets Will Unlock New Opportunities

With both revenue growth forecasts and future P/E estimates unchanged, analysts have maintained their fair value estimate for Standard Bank Group at ZAR274.45. Valuation Changes Summary of Valuation Changes for Standard Bank Group The Consensus Analyst Price Target remained effectively unchanged, at ZAR274.45.
ABG
R181.00
Absa Group
7D
-1.6%
1Y
1.6%

Pan-African Integration And Digital Transformation Will Unlock Potential

With both the Future P/E ratio and Consensus Revenue Growth forecasts for Absa Group holding steady, the analyst price target likewise remains unchanged at ZAR224.19. What's in the News Absa Group declared an interim ordinary dividend of 785 cents per share for the period ended 30 June 2025, payable on 15 September 2025.
RHB
R1.99
RH Bophelo
7D
2.1%
1Y
-1.0%
CTA
R1.84
Capital Appreciation
7D
2.2%
1Y
13.6%
YYLBEE
R40.00
YeboYethu (RF)
7D
5.3%
1Y
60.0%