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South African (JSE) Industrials Sector Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies26
  • 7D3.0%
  • 3M13.8%
  • 1Y6.5%
  • YTD9.1%

Over the last 7 days, the Industrials industry has risen 3.0%, driven by gains from Bidvest Group of 2.5%. In the same time, Marshall Monteagle was down 7.8%. In the last 12 months, the industry was up 6.5%. Earnings are forecast to grow by 10% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026R174.9bR352.5bR15.0b7.1x11.7x0.5x
Sun, 25 Jan 2026R188.3bR390.9bR16.1b7.4x11.7x0.5x
Tue, 23 Dec 2025R180.9bR391.0bR16.1b7.6x11.3x0.5x
Thu, 20 Nov 2025R178.3bR496.5bR31.9b6.6x5.6x0.4x
Sat, 18 Oct 2025R174.3bR504.7bR32.4b6.3x5.4x0.3x
Mon, 15 Sep 2025R171.1bR505.5bR32.4b6.8x5.3x0.3x
Wed, 13 Aug 2025R178.2bR510.6bR34.0b6x5.2x0.3x
Fri, 11 Jul 2025R180.9bR512.2bR34.1b7.1x5.3x0.4x
Sun, 08 Jun 2025R184.9bR512.0bR33.8b7.2x5.5x0.4x
Tue, 06 May 2025R183.3bR423.4bR21.3b7.1x8.6x0.4x
Thu, 03 Apr 2025R177.8bR424.2bR21.5b7.4x8.3x0.4x
Sat, 01 Mar 2025R185.4bR419.8bR22.6b6.8x8.2x0.4x
Mon, 27 Jan 2025R197.1bR459.3bR22.4b6.6x8.8x0.4x
Wed, 25 Dec 2024R205.1bR459.5bR22.5b6.7x9.1x0.4x
Fri, 22 Nov 2024R210.0bR460.2bR22.0b6.9x9.6x0.5x
Sun, 20 Oct 2024R211.3bR456.9bR21.8b7.5x9.7x0.5x
Tue, 17 Sep 2024R204.3bR457.5bR21.8b6.7x9.4x0.4x
Thu, 15 Aug 2024R200.3bR452.3bR19.0b7.4x10.5x0.4x
Sat, 13 Jul 2024R199.9bR452.0bR19.0b7.1x10.5x0.4x
Mon, 10 Jun 2024R179.9bR453.6bR19.2b7.6x9.4x0.4x
Wed, 08 May 2024R180.5bR440.3bR19.8b5.4x9.1x0.4x
Fri, 05 Apr 2024R167.9bR419.1bR20.7b5.9x8.1x0.4x
Sun, 03 Mar 2024R166.7bR410.2bR20.4b5.4x8.2x0.4x
Tue, 30 Jan 2024R177.7bR423.1bR28.0b6.6x6.3x0.4x
Thu, 28 Dec 2023R181.6bR422.8bR27.9b6x6.5x0.4x
Sat, 25 Nov 2023R189.0bR421.9bR27.7b6.4x6.8x0.4x
Mon, 23 Oct 2023R180.7bR408.8bR25.5b5.4x7.1x0.4x
Wed, 20 Sep 2023R187.1bR409.0bR25.5b5.5x7.3x0.5x
Fri, 18 Aug 2023R187.7bR411.2bR27.6b5.4x6.8x0.5x
Sun, 16 Jul 2023R186.4bR410.7bR27.5b5.7x6.8x0.5x
Tue, 13 Jun 2023R183.9bR410.1bR27.6b5.7x6.7x0.4x
Thu, 11 May 2023R173.8bR401.1bR25.5b5.6x6.8x0.4x
Sat, 08 Apr 2023R183.9bR399.1bR25.3b5.8x7.3x0.5x
Mon, 06 Mar 2023R180.6bR391.7bR25.0b5.6x7.2x0.5x
Price to Earnings Ratio

7.2x


Total Market Cap: R180.6bTotal Earnings: R25.0bTotal Revenue: R391.7bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Industrials Sector Price to Earnings3Y Average 8x202420252026
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 11.7x which is higher than its 3-year average PE of 8.0x.
  • 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 16% per year over the last three years,
  • Revenues have also declined 3.5% 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 Market3.25%
Industrials3.01%
Electrical22.41%
Construction6.16%
Transportation5.27%
Industrials2.91%
Machinery2.39%
Logistics2.29%
Trade Distributors2.22%
Building1.15%
Infrastructure0.60%
Aerospace & Defense0%0
Marine and Shipping0%0
Commercial Services-2.52%
Professional Services-4.25%
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 14% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Infrastructure industry is expected to see its earnings decline by 3.2% 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 GroupR252.332.5%
+R2.1b		2.2%PE14.6x
WBO Wilson Bayly Holmes-OvconR210.628.9%
+R894.2m		11.0%PE9x
HCI Hosken Consolidated InvestmentsR165.374.0%
+R463.4m		18.3%PE7.6x
RLO ReunertR67.004.4%
+R440.0m		3.9%PE10.3x
RBX Raubex GroupR56.554.2%
+R412.0m		33.8%PE10.1x

Latest News

HDC
R215.00
Hudaco Industries
7D
4.3%
1Y
12.0%
AEG
R4.69
Aveng
7D
-6.8%
1Y
-32.5%
BVT
R252.33
Bidvest Group
7D
2.5%
1Y
2.2%

BVT: Steady Margins And Slightly Lower Discount Rate Will Support Future Upside

Analysts have kept their ZAR fair value estimate for Bidvest Group effectively unchanged at around ZAR291.39 per share, with only marginal tweaks to assumptions such as discount rate, revenue growth, profit margin and future P/E, which together feed into a steady price target view. Valuation Changes Fair Value: ZAR291.39 per share remains unchanged, signalling a steady central estimate.
MTU
R0.35
Mantengu
7D
-12.5%
1Y
-47.0%
ISB
R0.64
Insimbi Industrial Holdings
7D
-7.2%
1Y
-1.5%
RBX
R56.55
Raubex Group
7D
4.2%
1Y
33.8%
KAP
R2.39
KAP
7D
3.9%
1Y
-9.5%
MMP
R26.01
Marshall Monteagle
7D
-7.8%
1Y
-10.3%
WBO
R210.62
Wilson Bayly Holmes-Ovcon
7D
8.9%
1Y
11.0%
RLO
R67.00
Reunert
7D
4.4%
1Y
3.9%
NVS
R5.30
Novus Holdings
7D
-1.9%
1Y
-19.7%
NTU
R1.25
Nutun
7D
-6.0%
1Y
-45.2%
FTH
R6.30
Frontier Transport Holdings
7D
-0.8%
1Y
-6.9%
ZZD
R13.93
Zeda
7D
10.1%
1Y
21.7%
HCI
R165.37
Hosken Consolidated Investments
7D
4.0%
1Y
18.3%
ADR
R6.33
Adcorp Holdings
7D
-3.1%
1Y
36.7%

Adcorp Holdings (JSE:ADR) Has Announced A Dividend Of ZAR0.2478

Jan 08
Adcorp Holdings (JSE:ADR) Has Announced A Dividend Of ZAR0.2478