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South African (JSE) Financials Sector Analysis

UpdatedAug 11, 2025
DataAggregated Company Financials
Companies36
  • 7D-0.4%
  • 3M1.2%
  • 1Y12.0%
  • YTD3.4%

In the last week, the Financials industry is flat overall, with Nedbank Group standing out by going down 6.3%. As for the the longer term, the industry is up 12% over the past 12 months. 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
Mon, 11 Aug 2025R2.4tR1.2tR214.5b8.9x11x2x
Wed, 09 Jul 2025R2.4tR1.2tR215.7b9.2x11x2x
Fri, 06 Jun 2025R2.4tR1.2tR213.8b9.1x11.1x2x
Sun, 04 May 2025R2.3tR1.2tR216.3b9.3x10.8x2x
Tue, 01 Apr 2025R2.3tR1.2tR213.7b9.1x10.6x1.9x
Thu, 27 Feb 2025R2.3tR1.1tR195.8b11x11.8x2.1x
Sat, 25 Jan 2025R2.2tR1.1tR195.6b11.7x11.3x2x
Mon, 23 Dec 2024R2.3tR1.1tR192.9b11.3x12x2.1x
Wed, 20 Nov 2024R2.3tR1.1tR191.6b11.3x12.2x2.1x
Fri, 18 Oct 2024R2.4tR1.1tR191.4b12x12.3x2.1x
Sun, 15 Sep 2024R2.2tR1.2tR186.0b11.1x12.1x1.9x
Tue, 13 Aug 2024R2.1tR1.2tR182.5b9.7x11.5x1.8x
Thu, 11 Jul 2024R2.1tR1.2tR182.6b9.6x11.3x1.7x
Sat, 08 Jun 2024R1.8tR1.2tR183.4b9x9.7x1.5x
Mon, 06 May 2024R1.8tR1.2tR182.4b9.6x9.9x1.5x
Wed, 03 Apr 2024R1.8tR1.2tR181.3b9x9.7x1.5x
Fri, 01 Mar 2024R1.9tR1.2tR178.6b9.7x10.5x1.6x
Sun, 28 Jan 2024R1.9tR1.2tR178.7b9.9x10.7x1.6x
Tue, 26 Dec 2023R1.9tR1.2tR178.5b9.9x10.7x1.6x
Thu, 23 Nov 2023R1.9tR1.2tR177.0b10.2x10.5x1.6x
Sat, 21 Oct 2023R1.7tR1.2tR179.8b9.9x9.6x1.5x
Mon, 18 Sep 2023R1.8tR1.2tR185.0b9.9x9.7x1.5x
Wed, 16 Aug 2023R1.8tR996.8bR177.8b10x10.3x1.8x
Fri, 14 Jul 2023R1.8tR1.0tR176.1b10.2x10.2x1.8x
Sun, 11 Jun 2023R1.7tR1.0tR177.9b10.3x9.6x1.7x
Tue, 09 May 2023R1.7tR1.0tR178.9b9.1x9.3x1.7x
Thu, 06 Apr 2023R1.7tR1.0tR180.5b9.3x9.5x1.7x
Sat, 04 Mar 2023R1.8tR1.1tR174.8b9.7x10.5x1.7x
Mon, 30 Jan 2023R1.8tR1.1tR172.8b9.6x10.5x1.7x
Wed, 28 Dec 2022R1.8tR1.0tR172.2b8.9x10.2x1.7x
Fri, 25 Nov 2022R1.8tR1.1tR178.1b8.8x10.2x1.7x
Sun, 23 Oct 2022R1.7tR1.0tR175.0b8.5x9.6x1.6x
Tue, 20 Sep 2022R1.6tR1.0tR169.3b9x9.6x1.6x
Thu, 18 Aug 2022R1.8tR1.3tR154.0b9.6x11.9x1.4x
Price to Earnings Ratio

11.9x


Total Market Cap: R1.8tTotal Earnings: R154.0bTotal Revenue: R1.3tTotal 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 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 12% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.7% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

ZA Market2.25%
Financials-0.35%
Consumer Finance3.64%
Insurance0.48%
Diversified Financial0.064%
Mortgage Finance0%0
Banks-0.88%
Capital Markets-1.09%
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 Banks industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is better than its past earnings growth rate of 5.2% per year.
  • In contrast, the Capital Markets industry is expected to see its earnings grow by 8.0% 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
CPI Capitec Bank HoldingsR3.51k0.8%
+R3.4b		26.9%PB8x
DSY DiscoveryR213.161.3%
+R1.8b		51.7%PE17.4x
OUT OUTsurance GroupR75.801.4%
+R1.6b		61.8%PE27.8x
MTM Momentum GroupR34.822.4%
+R1.0b		31.9%PE8.9x
REM RemgroR165.731.1%
+R968.5m		23.8%PE14.2x

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R229.43
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R3,510.25
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7D
0.8%
1Y
26.9%
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R43.04
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1Y
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OUT
R75.80
OUTsurance Group
7D
1.4%
1Y
61.8%
OMU
R12.30
Old Mutual
7D
-0.7%
1Y
3.1%
SBK
R230.82
Standard Bank Group
7D
-1.2%
1Y
6.5%
KST
R22.94
PSG Financial Services
7D
2.8%
1Y
40.7%
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R177.56
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7D
-0.6%
1Y
17.2%
ACT
R1.69
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7D
5.6%
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