Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

South African (JSE) Industrials Sector Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies25
  • 7D3.2%
  • 3M-0.3%
  • 1Y7.3%
  • YTD2.6%

The Industrials industry is up 3.9% in the last week, with Bidvest Group up 4.0%. In the same time, Novus Holdings was down 5.3%. This means that the industry has gained 12% over the past year. Looking forward, earnings are forecast to grow by 9.7% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Apr 2026R164.4bR354.5bR15.7b7.1x10.4x0.5x
Thu, 12 Mar 2026R161.5bR355.1bR15.7b6.9x10.3x0.5x
Sat, 07 Feb 2026R166.9bR353.5bR14.6b7.5x11.4x0.5x
Mon, 05 Jan 2026R182.5bR390.8bR16.1b7.3x11.4x0.5x
Wed, 03 Dec 2025R176.3bR391.2bR16.0b7.1x11x0.5x
Fri, 31 Oct 2025R176.1bR504.5bR32.4b6.5x5.4x0.3x
Sun, 28 Sep 2025R168.9bR504.8bR32.4b6.5x5.2x0.3x
Tue, 26 Aug 2025R182.0bR507.1bR34.0b5.5x5.4x0.4x
Thu, 24 Jul 2025R180.2bR510.4bR34.0b7.1x5.3x0.4x
Sat, 21 Jun 2025R176.6bR513.6bR34.0b7x5.2x0.3x
Mon, 19 May 2025R181.4bR422.2bR21.3b6.9x8.5x0.4x
Wed, 16 Apr 2025R174.3bR425.2bR21.5b7.1x8.1x0.4x
Fri, 14 Mar 2025R181.3bR424.6bR21.7b7x8.3x0.4x
Sun, 09 Feb 2025R196.1bR458.8bR22.4b6.3x8.8x0.4x
Tue, 07 Jan 2025R200.9bR459.4bR22.5b6.7x8.9x0.4x
Thu, 05 Dec 2024R206.0bR459.0bR22.3b7.2x9.2x0.4x
Sat, 02 Nov 2024R210.4bR456.6bR21.7b7.2x9.7x0.5x
Mon, 30 Sep 2024R214.7bR456.6bR21.7b7.2x9.9x0.5x
Wed, 28 Aug 2024R216.8bR460.8bR20.2b6.9x10.7x0.5x
Fri, 26 Jul 2024R202.3bR452.5bR19.1b7.5x10.6x0.4x
Sun, 23 Jun 2024R200.6bR452.7bR19.1b7.6x10.5x0.4x
Tue, 21 May 2024R184.6bR441.1bR19.8b6.7x9.3x0.4x
Thu, 18 Apr 2024R168.5bR419.2bR20.8b5.3x8.1x0.4x
Sat, 16 Mar 2024R170.8bR417.4bR20.6b5.2x8.3x0.4x
Mon, 12 Feb 2024R166.1bR404.6bR20.7b5.5x8x0.4x
Wed, 10 Jan 2024R179.6bR423.0bR28.0b6.1x6.4x0.4x
Fri, 08 Dec 2023R174.5bR423.4bR27.9b6x6.2x0.4x
Sun, 05 Nov 2023R189.6bR409.3bR25.4b5.7x7.5x0.5x
Tue, 03 Oct 2023R189.1bR409.0bR25.5b5.4x7.4x0.5x
Thu, 31 Aug 2023R196.7bR413.0bR26.4b5.6x7.5x0.5x
Sat, 29 Jul 2023R191.3bR410.6bR27.5b5.7x7x0.5x
Mon, 26 Jun 2023R182.9bR410.4bR27.6b5.7x6.6x0.4x
Wed, 24 May 2023R175.5bR406.5bR26.9b5.6x6.5x0.4x
Fri, 21 Apr 2023R181.6bR401.0bR25.5b5.7x7.1x0.5x
Price to Earnings Ratio

7.1x


Total Market Cap: R181.6bTotal Earnings: R25.5bTotal Revenue: R401.0bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Industrials Sector Price to Earnings3Y Average 8.1x202420252026
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 10.5x which is higher than its 3-year average PE of 8.1x.
  • 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 15% per year over the last three years,
  • Revenues have also declined 4.0% 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 Market2.61%
Industrials3.20%
Machinery7.75%
Building4.80%
Electrical4.63%
Industrials3.65%
Infrastructure3.55%
Construction2.40%
Trade Distributors1.15%
Logistics0.68%
Professional Services0.39%
Transportation0.25%
Aerospace & Defense0%0
Marine and Shipping0%0
Commercial Services-5.26%
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.
Forecasted Growth
  • Analysts are most optimistic on the Construction industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is better than its past earnings growth rate of 6.3% 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?

CompanyLast Price7D1YValuation
BVT Bidvest GroupR231.604.0%
+R3.0b		1.8%PE13.1x
GND GrindrodR20.433.5%
+R467.1m		77.5%PE6.6x
HCI Hosken Consolidated InvestmentsR169.753.5%
+R418.3m		28.7%PE7.8x
RLO ReunertR67.323.9%
+R397.5m		18.6%PE10.3x
RBX Raubex GroupR50.743.3%
+R289.7m		14.0%PE9x

Latest News

BVT
R231.60
Bidvest Group
7D
4.0%
1Y
1.8%

BVT: Dividend Payout And Two Wheeler Expansion Will Support Future Upside

Analysts have kept their ZAR 295.23 price target for Bidvest Group unchanged, pointing to only minor model tweaks in the discount rate, revenue growth, profit margin and future P/E assumptions, rather than any shift in the core investment thesis. What's in the News Directors declared an interim gross cash dividend of ZAR 4.95 per ordinary share for the six months ended 31 December 2025, with a net amount of ZAR 3.96 per share where dividend withholding tax applies, in line with the group dividend policy (Key Developments).
KAP
R2.13
KAP
7D
-1.4%
1Y
-17.8%
GND
R20.43
Grindrod
7D
3.5%
1Y
77.5%

GND: Strong 2025 EPS Guidance Will Support Further Upside Potential

Grindrod's analyst price target has been adjusted slightly lower to ZAR22.30 from ZAR22.70, reflecting analysts' fine tuning of fair value and P/E assumptions rather than a change in the core outlook. What's in the News Grindrod issued earnings guidance for the year ending 31 December 2025, giving a clearer view of expected profitability for the period (company guidance).
BEL
R42.00
Bell Equipment
7D
7.7%
1Y
13.2%
ADR
R5.45
Adcorp Holdings
7D
-4.4%
1Y
35.6%
HDC
R199.31
Hudaco Industries
7D
3.9%
1Y
2.7%
HCI
R169.75
Hosken Consolidated Investments
7D
3.5%
1Y
28.7%
FTH
R5.65
Frontier Transport Holdings
7D
-1.6%
1Y
-7.5%
RLO
R67.32
Reunert
7D
3.9%
1Y
18.6%
ENX
R3.60
enX Group
7D
-1.6%
1Y
-14.3%
NVS
R5.40
Novus Holdings
7D
-5.3%
1Y
-19.4%
WBO
R157.49
Wilson Bayly Holmes-Ovcon
7D
1.1%
1Y
-15.5%
RBX
R50.74
Raubex Group
7D
3.3%
1Y
14.0%
IVT
R36.06
Invicta Holdings
7D
-2.5%
1Y
13.0%