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South African (JSE) Capital Markets Industry Analysis

UpdatedSep 27, 2025
DataAggregated Company Financials
Companies17
  • 7D-2.3%
  • 3M-1.4%
  • 1Y5.0%
  • YTD5.4%

Over the last 7 days, the Capital Markets industry has dropped 2.3%, driven by a pullback from Investec Group of 2.6%. Meanwhile, Purple Group actually outperformed within the industry, gaining 13% in the last week. In the past year, the industry has gained 5.0%. Looking forward, earnings are forecast to grow by 7.9% annually.

Industry Valuation and Performance

Has the South African Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Sep 2025R197.5bR72.7bR25.8b7.9x7.7x2.7x
Mon, 25 Aug 2025R201.8bR73.0bR23.2b7.7x8.7x2.8x
Wed, 23 Jul 2025R201.7bR73.2bR23.8b7.6x8.5x2.8x
Fri, 20 Jun 2025R190.2bR74.1bR24.1b7x7.9x2.6x
Sun, 18 May 2025R205.0bR75.2bR24.5b7x8.4x2.7x
Tue, 15 Apr 2025R188.4bR76.2bR24.9b6.4x7.6x2.5x
Thu, 13 Mar 2025R194.3bR74.0bR23.1b7x8.4x2.6x
Sat, 08 Feb 2025R195.8bR71.8bR22.2b9.8x8.8x2.7x
Mon, 06 Jan 2025R206.3bR72.7bR22.5b9.4x9.2x2.8x
Wed, 04 Dec 2024R203.5bR71.7bR19.8b11.5x10.3x2.8x
Fri, 01 Nov 2024R206.5bR69.3bR17.7b10.6x11.7x3x
Sun, 29 Sep 2024R202.3bR68.9bR17.8b11.8x11.4x2.9x
Tue, 27 Aug 2024R195.3bR70.2bR19.0b10.6x10.3x2.8x
Thu, 25 Jul 2024R188.6bR70.8bR20.0b9.9x9.4x2.7x
Sat, 22 Jun 2024R188.2bR68.8bR19.6b9.5x9.6x2.7x
Mon, 20 May 2024R178.9bR77.0bR19.8b10x9.1x2.3x
Wed, 17 Apr 2024R168.9bR78.0bR18.9b9.8x8.9x2.2x
Fri, 15 Mar 2024R168.7bR78.5bR19.1b9.6x8.9x2.1x
Sun, 11 Feb 2024R173.6bR78.2bR15.6b10.8x11.1x2.2x
Tue, 09 Jan 2024R181.8bR81.5bR15.7b10.1x11.5x2.2x
Thu, 07 Dec 2023R178.3bR83.4bR16.7b10.1x10.7x2.1x
Sat, 04 Nov 2023R170.6bR78.7bR17.3b10.3x9.8x2.2x
Mon, 02 Oct 2023R170.2bR79.4bR17.6b10x9.7x2.1x
Wed, 30 Aug 2023R163.6bR77.8bR16.1b10.3x10.2x2.1x
Fri, 28 Jul 2023R163.6bR76.7bR15.8b11.7x10.4x2.1x
Sun, 25 Jun 2023R150.0bR79.2bR16.6b12.1x9x1.9x
Tue, 23 May 2023R153.7bR79.4bR18.9b9.9x8.1x1.9x
Thu, 20 Apr 2023R150.8bR73.9bR16.5b9.4x9.1x2x
Sat, 18 Mar 2023R149.3bR73.3bR19.0b9.9x7.9x2x
Mon, 13 Feb 2023R181.2bR73.8bR20.3b9.1x8.9x2.5x
Wed, 11 Jan 2023R175.0bR72.0bR19.8b9.3x8.8x2.4x
Fri, 09 Dec 2022R165.4bR72.5bR19.9b9.4x8.3x2.3x
Sun, 06 Nov 2022R159.3bR68.8bR20.9b8.7x7.6x2.3x
Tue, 04 Oct 2022R143.4bR68.2bR20.9b7.8x6.9x2.1x
Price to Earnings Ratio

6.9x


Total Market Cap: R143.4bTotal Earnings: R20.9bTotal Revenue: R68.2bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Capital Markets Industry Price to Earnings3Y Average 9.5x202320242025
Current Industry PE
  • Investors are pessimistic on the South African Capital Markets 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 7.7x which is lower than its 3-year average PE of 9.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 7.3% per year over the last three years.
  • Revenues for these companies have grown 2.2% 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 industry?

ZA Market0.17%
Financials-2.94%
Capital Markets-2.26%
Asset Management-1.77%
Financial Exchanges and Data-2.21%
Diversified Capital Markets-2.60%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry, which is trading close to its 3-year average PE ratio of 10.9x.
    • Analysts are expecting annual earnings growth of 5.5%, which is lower than the prior year's growth of 18.3% per year.
  • Investors are most pessimistic about the Asset Management industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 8.1% over the next 5 years.
  • This is better than its past earnings growth rate of 3.4% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 5.5% 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
YYLBEE YeboYethu (RF)R40.005.3%
+R105.8m		60.0%PE0.9x
MHB Mahube InfrastructureR4.982.7%
+R7.2m		1.6%PE8.1x
RHB RH BopheloR1.992.1%
+R2.6m		-1.0%PE2.9x

Latest News

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
JSE
R127.18
JSE
7D
-2.2%
1Y
-1.3%

Digital Infrastructure Upgrades And African Market Expansion Will Boost Efficiency

The consensus price target for JSE saw a slight upward revision as analysts raised their revenue growth forecasts, while profit margin expectations remained stable, resulting in a new fair value of ZAR154.50. Valuation Changes Summary of Valuation Changes for JSE The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from ZAR152.60 to ZAR154.50.
INL
R128.94
Investec Group
7D
-2.6%
1Y
-2.2%
VUN
R1.70
Vunani
7D
-17.1%
1Y
-19.0%

There's No Escaping Vunani Limited's (JSE:VUN) Muted Revenues Despite A 37% Share Price Rise

Sep 20
There's No Escaping Vunani Limited's (JSE:VUN) Muted Revenues Despite A 37% Share Price Rise
MHB
R4.98
Mahube Infrastructure
7D
2.7%
1Y
1.6%
AFH
R6.90
Alexander Forbes Group Holdings
7D
-3.4%
1Y
-2.7%
RHB
R1.99
RH Bophelo
7D
2.1%
1Y
-1.0%
ZED
R1.26
Zeder Investments
7D
-1.6%
1Y
-38.2%
BAT
R2.00
Brait
7D
-3.8%
1Y
36.1%
CML
R44.38
Coronation Fund Managers
7D
-1.5%
1Y
13.2%

Is Now The Time To Put Coronation Fund Managers (JSE:CML) On Your Watchlist?

Jul 18
Is Now The Time To Put Coronation Fund Managers (JSE:CML) On Your Watchlist?
YYLBEE
R40.00
YeboYethu (RF)
7D
5.3%
1Y
60.0%
KST
R22.58
PSG Financial Services
7D
-3.1%
1Y
23.7%