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South African (JSE) Financials Sector Analysis

UpdatedFeb 24, 2024
DataAggregated Company Financials
Companies39
  • 7D0.9%
  • 3M0.4%
  • 1Y5.6%
  • YTD-1.9%

Over the last 7 days, the Financials industry has remained flat. As for the the longer term, the industry is up 5.6% over the past 12 months. As for the next few years, earnings are expected to grow by 12% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 24 Feb 2024R1.9tR1.2tR178.7b9.9x10.6x1.6x
Mon, 22 Jan 2024R1.9tR1.2tR178.9b10.3x10.5x1.6x
Wed, 20 Dec 2023R1.8tR1.2tR178.4b9.9x10.3x1.6x
Fri, 17 Nov 2023R1.9tR1.2tR179.4b10.3x10.6x1.6x
Sun, 15 Oct 2023R1.8tR1.2tR179.7b10.1x9.9x1.5x
Tue, 12 Sep 2023R1.9tR1.1tR183.6b10.1x10.2x1.7x
Thu, 10 Aug 2023R1.9tR993.5bR177.3b9.9x10.6x1.9x
Sat, 08 Jul 2023R1.7tR1.0tR176.6b10.1x9.9x1.7x
Mon, 05 Jun 2023R1.6tR1.0tR178.5b9.9x8.9x1.6x
Wed, 03 May 2023R1.7tR1.0tR178.8b9.1x9.4x1.7x
Fri, 31 Mar 2023R1.7tR1.0tR180.3b9x9.5x1.7x
Sun, 26 Feb 2023R1.8tR1.1tR173.3b9.3x10.5x1.7x
Tue, 24 Jan 2023R1.8tR1.1tR172.7b9.5x10.5x1.7x
Thu, 22 Dec 2022R1.7tR1.1tR172.4b8.8x10.1x1.7x
Sat, 19 Nov 2022R1.8tR1.0tR178.2b8.8x10.1x1.7x
Mon, 17 Oct 2022R1.6tR1.0tR175.0b8.5x9.1x1.6x
Wed, 14 Sep 2022R1.7tR1.1tR164.7b9.6x10.4x1.6x
Fri, 12 Aug 2022R1.8tR1.3tR151.6b9.5x11.9x1.4x
Sun, 10 Jul 2022R1.7tR1.3tR150.3b10x11.2x1.3x
Tue, 07 Jun 2022R1.8tR1.3tR149.9b10.7x12.3x1.4x
Thu, 05 May 2022R1.8tR1.3tR148.2b10.7x12.3x1.4x
Sat, 02 Apr 2022R2.1tR1.3tR149.2b11.5x14x1.5x
Mon, 28 Feb 2022R2.0tR1.3tR135.9b12.3x14.4x1.5x
Wed, 26 Jan 2022R1.8tR1.3tR134.6b11.8x13.6x1.4x
Fri, 24 Dec 2021R1.8tR1.3tR133.6b12x13.4x1.4x
Sun, 21 Nov 2021R1.7tR1.3tR131.8b11.6x13.1x1.4x
Tue, 19 Oct 2021R1.7tR1.3tR126.4b12.4x13.8x1.4x
Thu, 16 Sep 2021R1.7tR1.2tR113.4b11.5x15x1.4x
Sat, 14 Aug 2021R1.6tR1.2tR100.7b11.7x16.3x1.3x
Wed, 09 Jun 2021R1.6tR1.1tR77.8b13.3x21.1x1.5x
Tue, 02 Mar 2021R1.5tR978.8bR50.8b13x29.1x1.5x
Price to Earnings Ratio

29.1x


Total Market Cap: R1.5tTotal Earnings: R50.8bTotal Revenue: R978.8bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Financials Sector Price to Earnings3Y Average 12.8x202220232024
Current Industry PE
  • Investors are pessimistic on the South African Financials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 10.6x which is lower than its 3-year average PE of 12.8x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 52% per year over the last three years.
  • Revenues for these companies have grown 5.8% 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 Market0.078%
Financials0.94%
Insurance1.86%
Diversified Financial1.82%
Capital Markets1.49%
Mortgage Finance0%
Mortgage REITs0%
Banks-0.12%
Consumer Finance-3.23%
Industry PE
  • Investors are most optimistic about the Insurance industry which is trading above its 3-year average PE ratio of 10.9x.
    • Analysts expect its future annual earnings growth (15.9%) to be largely in line with prior year's earnings growth.
Forecasted Growth
  • Analysts are most optimistic on the Insurance industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Capital Markets industry is expected to see its earnings grow by 5.7% 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
FSR FirstRandR65.902.6%
+R9.5b
1.2%PE10.2x
CPI Capitec Bank HoldingsR2.06k1.6%
+R3.6b
17.0%PB6.1x
OUT OUTsurance GroupR42.314.9%
+R3.0b
18.6%PE22.2x
SLM SanlamR73.601.5%
+R2.3b
26.8%PE14.1x
INL Investec GroupR124.701.9%
+R2.1b
9.8%PE7.2x
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R2.25

RH Bophelo

7D

-39.0%

1Y

-43.6%

FSR

R65.90

FirstRand

7D

2.6%

1Y

1.2%

MTNZF

R15.40

MTN Zakhele Futhi (RF)

7D

-6.7%

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R124.70

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7D

1.9%

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9.8%

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7D

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7D

1.6%

1Y

17.0%

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R11.26

Clientèle

7D

-2.1%

1Y

8.3%