Narrative Update • Jun 04
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South African (JSE) Industrials Sector Analysis
UpdatedJun 06, 2026
DataAggregated Company Financials
Companies27
- 7D-1.3%
- 3M4.5%
- 1Y4.0%
- YTD5.8%
The Industrials industry has been flat over the last week, but Reunert has lost 8.7%. The past year has been better, since the industry has gained 4.4% in that time. As for the next few years, earnings are expected to grow by 9.8% per annum.
Sector Valuation and Performance
Has the South African Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 06 Jun 2026 | R170.6b | R369.4b | R17.6b | 7.2x | 9.7x | 0.5x |
| Mon, 04 May 2026 | R168.9b | R355.5b | R15.7b | 7.6x | 10.7x | 0.5x |
| Wed, 01 Apr 2026 | R159.8b | R354.9b | R15.7b | 7.1x | 10.2x | 0.5x |
| Fri, 27 Feb 2026 | R174.9b | R352.5b | R15.0b | 7.1x | 11.7x | 0.5x |
| Sun, 25 Jan 2026 | R188.3b | R390.9b | R16.1b | 7.4x | 11.7x | 0.5x |
| Tue, 23 Dec 2025 | R180.9b | R391.0b | R16.1b | 7.6x | 11.3x | 0.5x |
| Thu, 20 Nov 2025 | R178.3b | R496.5b | R31.9b | 6.6x | 5.6x | 0.4x |
| Sat, 18 Oct 2025 | R174.3b | R504.7b | R32.4b | 6.3x | 5.4x | 0.3x |
| Mon, 15 Sep 2025 | R171.1b | R505.5b | R32.4b | 6.8x | 5.3x | 0.3x |
| Wed, 13 Aug 2025 | R178.2b | R510.6b | R34.0b | 6x | 5.2x | 0.3x |
| Fri, 11 Jul 2025 | R180.9b | R512.2b | R34.1b | 7.1x | 5.3x | 0.4x |
| Sun, 08 Jun 2025 | R184.9b | R512.0b | R33.8b | 7.2x | 5.5x | 0.4x |
| Tue, 06 May 2025 | R183.3b | R423.4b | R21.3b | 7.1x | 8.6x | 0.4x |
| Thu, 03 Apr 2025 | R177.8b | R424.2b | R21.5b | 7.4x | 8.3x | 0.4x |
| Sat, 01 Mar 2025 | R185.4b | R419.8b | R22.6b | 6.8x | 8.2x | 0.4x |
| Mon, 27 Jan 2025 | R197.1b | R459.3b | R22.4b | 6.6x | 8.8x | 0.4x |
| Wed, 25 Dec 2024 | R205.1b | R459.5b | R22.5b | 6.7x | 9.1x | 0.4x |
| Fri, 22 Nov 2024 | R210.0b | R460.2b | R22.0b | 6.9x | 9.6x | 0.5x |
| Sun, 20 Oct 2024 | R211.3b | R456.9b | R21.8b | 7.5x | 9.7x | 0.5x |
| Tue, 17 Sep 2024 | R204.3b | R457.5b | R21.8b | 6.7x | 9.4x | 0.4x |
| Thu, 15 Aug 2024 | R200.3b | R452.3b | R19.0b | 7.4x | 10.5x | 0.4x |
| Sat, 13 Jul 2024 | R199.9b | R452.0b | R19.0b | 7.1x | 10.5x | 0.4x |
| Mon, 10 Jun 2024 | R179.9b | R453.6b | R19.2b | 7.6x | 9.4x | 0.4x |
| Wed, 08 May 2024 | R180.5b | R440.3b | R19.8b | 5.4x | 9.1x | 0.4x |
| Fri, 05 Apr 2024 | R167.9b | R419.1b | R20.7b | 5.9x | 8.1x | 0.4x |
| Sun, 03 Mar 2024 | R166.7b | R410.2b | R20.4b | 5.4x | 8.2x | 0.4x |
| Tue, 30 Jan 2024 | R177.7b | R423.1b | R28.0b | 6.6x | 6.3x | 0.4x |
| Thu, 28 Dec 2023 | R181.6b | R422.8b | R27.9b | 6x | 6.5x | 0.4x |
| Sat, 25 Nov 2023 | R189.0b | R421.9b | R27.7b | 6.4x | 6.8x | 0.4x |
| Mon, 23 Oct 2023 | R180.7b | R408.8b | R25.5b | 5.4x | 7.1x | 0.4x |
| Wed, 20 Sep 2023 | R187.1b | R409.0b | R25.5b | 5.5x | 7.3x | 0.5x |
| Fri, 18 Aug 2023 | R187.7b | R411.2b | R27.6b | 5.4x | 6.8x | 0.5x |
| Sun, 16 Jul 2023 | R186.4b | R410.7b | R27.5b | 5.7x | 6.8x | 0.5x |
| Tue, 13 Jun 2023 | R183.9b | R410.1b | R27.6b | 5.7x | 6.7x | 0.4x |
Price to Earnings Ratio
6.7x
Current Industry PE
- Investors are optimistic on the South African Industrials industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 9.7x which is higher than its 3-year average PE of 8.3x.
- The industry is trading close to its 3-year average PS ratio of 0.43x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have declined 14% per year over the last three years,
- Revenues have also declined 3.4% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the South African Industrials sector?
| ZA Market | -2.66% | |
| Industrials | -1.35% | |
| Logistics | 3.90% | |
| Building | 2.97% | |
| Commercial Services | 0.92% | |
| Aerospace & Defense | 0% | 0 |
| Marine and Shipping | 0% | 0 |
| Construction | -0.45% | |
| Transportation | -0.70% | |
| Professional Services | -0.83% | |
| Infrastructure | -1.27% | |
| Industrials | -1.29% | |
| Trade Distributors | -1.95% | |
| Machinery | -9.88% | |
| Electrical | -14.62% | |
Industry PE
- Investors are most optimistic about the Professional Services 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 Transportation industry, which is trading close to its 3-year average of 4.2x.
Forecasted Growth
- Analysts are most optimistic on the Industrials industry, expecting annual earnings growth of 13% over the next 5 years.
- This is better than its past earnings decline of 35% per year.
- In contrast, the Infrastructure industry is expected to see its earnings decline by 6.3% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| WBO Wilson Bayly Holmes-Ovcon | R168.94 | 1.5% +R126.8m | -10.4% | PE7.3x | |
| FTH Frontier Transport Holdings | R6.49 | 6.4% +R115.4m | -7.3% | PE5x | |
| KAP KAP | R2.80 | 1.1% +R75.2m | 9.8% | PE55.7x | |
| ART Argent Industrial | R37.34 | 3.1% +R60.6m | 46.4% | PE6.9x | |
| PMV Primeserv Group | R3.24 | 20.0% +R39.6m | 29.6% | PE7.2x |