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South African (JSE) Capital Markets Industry Analysis

UpdatedJun 09, 2026
DataAggregated Company Financials
Companies16
  • 7D-0.4%
  • 3M2.9%
  • 1Y12.6%
  • YTD5.0%

Over the last 7 days, the Capital Markets industry has dropped 1.8%, driven by a pullback from Alexander Forbes Group Holdings of 2.8%. Over the past 12 months, the industry was up 12%. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 09 Jun 2026R210.7bR73.6bR22.5b8.7x9.4x2.9x
Thu, 07 May 2026R210.6bR72.3bR22.1b9.8x9.5x2.9x
Sat, 04 Apr 2026R206.2bR71.6bR21.7b10.4x9.5x2.9x
Mon, 02 Mar 2026R218.0bR69.8bR21.3b11.7x10.3x3.1x
Wed, 28 Jan 2026R212.9bR71.2bR24.4b10x8.7x3x
Fri, 26 Dec 2025R203.0bR72.2bR24.7b9.2x8.2x2.8x
Sun, 23 Nov 2025R198.4bR72.4bR25.2b9x7.9x2.7x
Tue, 21 Oct 2025R205.1bR73.3bR26.0b8.7x7.9x2.8x
Thu, 18 Sep 2025R204.7bR73.2bR23.3b7.9x8.8x2.8x
Sat, 16 Aug 2025R197.6bR73.5bR23.4b7.4x8.5x2.7x
Mon, 14 Jul 2025R200.0bR74.1bR24.1b7.4x8.3x2.7x
Wed, 11 Jun 2025R196.9bR73.7bR22.2b7.1x8.9x2.7x
Fri, 09 May 2025R197.2bR75.4bR24.5b6.7x8x2.6x
Sun, 06 Apr 2025R176.5bR75.7bR24.2b6x7.3x2.3x
Tue, 04 Mar 2025R196.4bR73.3bR22.7b7.3x8.7x2.7x
Thu, 30 Jan 2025R196.3bR72.3bR22.3b9.8x8.8x2.7x
Sat, 28 Dec 2024R205.1bR73.0bR20.2b10.9x10.2x2.8x
Mon, 25 Nov 2024R207.8bR71.2bR19.7b9.6x10.6x2.9x
Wed, 23 Oct 2024R206.7bR69.4bR17.8b10.9x11.6x3x
Fri, 20 Sep 2024R199.4bR69.7bR18.0b11.1x11.1x2.9x
Sun, 18 Aug 2024R194.1bR69.7bR18.9b10.2x10.3x2.8x
Tue, 16 Jul 2024R194.8bR70.6bR20.0b10.2x9.8x2.8x
Thu, 13 Jun 2024R179.5bR70.4bR20.1b8.6x8.9x2.5x
Sat, 11 May 2024R177.9bR77.0bR19.8b10.1x9x2.3x
Mon, 08 Apr 2024R174.7bR77.9bR18.9b10x9.2x2.2x
Wed, 06 Mar 2024R173.4bR78.4bR15.6b10.6x11.1x2.2x
Fri, 02 Feb 2024R178.7bR81.5bR15.8b10.4x11.3x2.2x
Sun, 31 Dec 2023R182.8bR80.6bR15.5b10.1x11.8x2.3x
Tue, 28 Nov 2023R179.0bR82.8bR14.7b10.3x12.1x2.2x
Thu, 26 Oct 2023R164.7bR80.0bR17.8b10.1x9.3x2.1x
Sat, 23 Sep 2023R171.3bR79.2bR17.6b10x9.7x2.2x
Mon, 21 Aug 2023R160.2bR79.8bR16.8b10.3x9.6x2x
Wed, 19 Jul 2023R162.5bR78.0bR16.2b12.2x10x2.1x
Fri, 16 Jun 2023R161.5bR78.1bR17.8b12x9.1x2.1x
Price to Earnings Ratio

9.1x


Total Market Cap: R161.5bTotal Earnings: R17.8bTotal Revenue: R78.1bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Capital Markets Industry Price to Earnings3Y Average 9.4x202420252026
Current Industry PE
  • Investors are relatively neutral on the South African Capital Markets 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 9.4x.
  • The industry is trading close to its 3-year average PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 8.1% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

ZA Market-1.99%
Financials0.90%
Capital Markets-0.36%
Financial Exchanges and Data2.65%
Asset Management0.71%
Investment Banking and Brokerage0%0
Diversified Capital Markets-1.44%
Industry PE
  • Investors are most optimistic about the Asset Management industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Diversified Capital Markets industry, which is trading close to its 3-year average of 7.4x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 13% over the next 5 years.
  • This is better than its past earnings growth rate of 5.2% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 4.0% 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
KST PSG Financial ServicesR29.403.9%
+R1.4b		42.3%PE21.1x
JSE JSER151.412.7%
+R316.7m		16.2%PE11.5x
CML Coronation Fund ManagersR42.500.8%
+R122.4m		4.5%PE8.7x

Latest News

KST
R29.40
PSG Financial Services
7D
3.9%
1Y
42.3%
CML
R42.50
Coronation Fund Managers
7D
0.8%
1Y
4.5%
AFH
R7.94
Alexander Forbes Group Holdings
7D
-4.7%
1Y
-11.8%
Analysis Article • Jun 03

Here's Why We Think Alexander Forbes Group Holdings (JSE:AFH) Might Deserve Your Attention Today

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
JSE
R151.41
JSE
7D
2.7%
1Y
16.2%
Narrative Update • May 28

JSE: Future Dividends And Stable Assumptions Will Shape Return Profile

Analysts now view the JSE stock as fairly valued at around ZAR165.00 per share. The updated price target reflects slightly lower assumed risk and a small adjustment to the forward P/E applied in their models.
SYG
R32.46
Sygnia
7D
-1.4%
1Y
20.2%
ZED
R1.15
Zeder Investments
7D
-8.0%
1Y
-4.2%
INL
R136.69
Investec Group
7D
-1.4%
1Y
8.1%
YYLBEE
R58.00
YeboYethu (RF)
7D
-1.8%
1Y
116.4%
PPE
R1.72
Purple Group
7D
-4.4%
1Y
26.5%
EPE
R5.98
EPE Capital Partners
7D
-0.3%
1Y
-5.1%