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South African (JSE) Industrials Sector Analysis
UpdatedJan 11, 2026
DataAggregated Company Financials
Companies27
- 7D4.3%
- 3M10.0%
- 1Y-2.3%
- YTD4.8%
Over the last 7 days, the Industrials industry has risen 4.3%, driven by gains from Bidvest Group of 7.4%. Meanwhile, Hudaco Industries actually underperformed within the industry, shrinking 7.8% in the last week. Despite this gain, the industry's performance has been flat over the past year. As for the next few years, earnings are expected to grow by 13% 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 |
|---|---|---|---|---|---|---|
| Sun, 11 Jan 2026 | R190.3b | R390.8b | R16.1b | 7.3x | 11.8x | 0.5x |
| Tue, 09 Dec 2025 | R176.2b | R391.3b | R16.0b | 7.2x | 11x | 0.5x |
| Thu, 06 Nov 2025 | R175.0b | R504.9b | R32.5b | 6.4x | 5.4x | 0.3x |
| Sat, 04 Oct 2025 | R172.3b | R504.1b | R32.3b | 6.4x | 5.3x | 0.3x |
| Mon, 01 Sep 2025 | R179.8b | R507.7b | R33.0b | 5.9x | 5.4x | 0.4x |
| Wed, 30 Jul 2025 | R178.6b | R512.9b | R34.2b | 6.9x | 5.2x | 0.3x |
| Fri, 27 Jun 2025 | R177.3b | R513.0b | R33.9b | 7x | 5.2x | 0.3x |
| Sun, 25 May 2025 | R178.3b | R422.0b | R21.2b | 7.2x | 8.4x | 0.4x |
| Tue, 22 Apr 2025 | R173.7b | R424.7b | R21.5b | 6.9x | 8.1x | 0.4x |
| Thu, 20 Mar 2025 | R183.4b | R424.3b | R21.7b | 6.8x | 8.5x | 0.4x |
| Sat, 15 Feb 2025 | R192.9b | R439.4b | R22.8b | 6.3x | 8.5x | 0.4x |
| Mon, 13 Jan 2025 | R197.4b | R460.4b | R22.6b | 6.5x | 8.7x | 0.4x |
| Wed, 11 Dec 2024 | R205.4b | R457.9b | R22.2b | 7x | 9.2x | 0.4x |
| Fri, 08 Nov 2024 | R209.9b | R455.9b | R21.6b | 7.2x | 9.7x | 0.5x |
| Sun, 06 Oct 2024 | R210.2b | R457.3b | R21.8b | 6.9x | 9.6x | 0.5x |
| Tue, 03 Sep 2024 | R214.7b | R461.1b | R21.3b | 6.9x | 10.1x | 0.5x |
| Thu, 01 Aug 2024 | R203.5b | R452.3b | R19.0b | 7.8x | 10.7x | 0.4x |
| Sat, 29 Jun 2024 | R198.0b | R452.8b | R19.0b | 7.5x | 10.4x | 0.4x |
| Mon, 27 May 2024 | R185.4b | R441.3b | R17.6b | 7.4x | 10.5x | 0.4x |
| Wed, 24 Apr 2024 | R171.3b | R440.6b | R19.9b | 5.3x | 8.6x | 0.4x |
| Fri, 22 Mar 2024 | R169.3b | R417.6b | R20.7b | 5.2x | 8.2x | 0.4x |
| Sun, 18 Feb 2024 | R165.1b | R404.5b | R20.7b | 5.5x | 8x | 0.4x |
| Tue, 16 Jan 2024 | R182.3b | R423.0b | R28.0b | 6.4x | 6.5x | 0.4x |
| Thu, 14 Dec 2023 | R172.1b | R423.3b | R28.0b | 5.9x | 6.1x | 0.4x |
| Sat, 11 Nov 2023 | R186.1b | R409.4b | R25.5b | 5.7x | 7.3x | 0.5x |
| Mon, 09 Oct 2023 | R187.0b | R409.0b | R25.5b | 5.5x | 7.3x | 0.5x |
| Wed, 06 Sep 2023 | R190.1b | R402.1b | R25.3b | 5.6x | 7.5x | 0.5x |
| Fri, 04 Aug 2023 | R190.3b | R410.9b | R27.5b | 5.6x | 6.9x | 0.5x |
| Sun, 02 Jul 2023 | R185.6b | R411.1b | R27.6b | 5.6x | 6.7x | 0.5x |
| Tue, 30 May 2023 | R172.9b | R408.9b | R27.1b | 5.7x | 6.4x | 0.4x |
| Thu, 27 Apr 2023 | R181.0b | R401.0b | R25.5b | 5.7x | 7.1x | 0.5x |
| Sat, 25 Mar 2023 | R183.6b | R398.7b | R25.3b | 5.5x | 7.2x | 0.5x |
| Mon, 20 Feb 2023 | R183.3b | R389.7b | R25.3b | 5.5x | 7.2x | 0.5x |
| Wed, 18 Jan 2023 | R173.1b | R389.1b | R25.2b | 5.6x | 6.9x | 0.4x |
Price to Earnings Ratio
6.9x
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 11.8x which is higher than its 3-year average PE of 7.8x.
- 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.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the South African Industrials sector?
| ZA Market | 1.61% | |
| Industrials | 4.26% | |
| Industrials | 6.59% | |
| Transportation | 5.40% | |
| Construction | 4.00% | |
| Infrastructure | 3.47% | |
| Building | 2.82% | |
| Aerospace & Defense | 0% | 0 |
| Electrical | 0% | 0 |
| Marine and Shipping | 0% | 0 |
| Professional Services | -0.088% | |
| Trade Distributors | -0.68% | |
| Logistics | -1.29% | |
| Machinery | -2.68% | |
| Commercial Services | -10.09% | |
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 Trade Distributors industry, expecting annual earnings growth of 21% over the next 5 years.
- This is better than its past earnings growth rate of 0.7% per year.
- 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| BVT Bidvest Group | R251.28 | 7.4% +R5.9b | -2.7% | PE14.5x | |
| HCI Hosken Consolidated Investments | R155.00 | 4.5% +R485.2m | -3.1% | PE7.2x | |
| GND Grindrod | R17.59 | 3.5% +R393.7m | 45.9% | PE9.1x | |
| WBO Wilson Bayly Holmes-Ovcon | R174.00 | 4.2% +R364.7m | -17.8% | PE7.5x | |
| RBX Raubex Group | R47.04 | 4.0% +R327.5m | -6.7% | PE8.4x |
