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South African (JSE) Materials Sector Analysis

UpdatedNov 09, 2025
DataAggregated Company Financials
Companies30
  • 7D-1.3%
  • 3M15.9%
  • 1Y66.7%
  • YTD84.9%

Over the last 7 days, the Materials industry has dropped 1.3%, driven by a pullback from Northam Platinum Holdings of 6.9%. In the past year, the industry has gained 67%. Looking forward, earnings are forecast to grow by 30% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Nov 2025R1.7tR1.1tR63.4b11.6x27.5x1.6x
Tue, 07 Oct 2025R1.9tR1.1tR67.9b10.5x28x1.7x
Thu, 04 Sep 2025R1.6tR1.1tR72.2b11.7x22.6x1.5x
Sat, 02 Aug 2025R1.4tR1.1t-R16,913,363,920.367.8x-82.9x1.3x
Mon, 30 Jun 2025R1.3tR1.1t-R11,759,878,319.587.7x-108.9x1.1x
Wed, 28 May 2025R1.2tR1.1t-R11,857,398,736.817.2x-103.8x1.1x
Fri, 25 Apr 2025R1.2tR1.1t-R8,567,450,885.717.2x-140.5x1.1x
Sun, 23 Mar 2025R1.2tR1.1t-R8,358,069,943.408.4x-142.3x1.1x
Tue, 18 Feb 2025R1.1tR1.1t-R54,346,021,028.878.3x-19.7x0.9x
Thu, 16 Jan 2025R1.0tR1.1t-R52,037,396,269.939.6x-19.6x0.9x
Sat, 14 Dec 2024R963.7bR1.1t-R52,758,496,058.899.7x-18.3x0.8x
Mon, 11 Nov 2024R1.0tR1.1t-R56,575,146,143.699.6x-18.5x0.9x
Wed, 09 Oct 2024R1.0tR1.1t-R59,753,417,543.319.9x-17.2x0.9x
Fri, 06 Sep 2024R937.6bR1.1t-R43,157,873,051.409.9x-21.7x0.8x
Sun, 04 Aug 2024R1.1tR1.2tR12.5b8.7x86.9x0.9x
Tue, 02 Jul 2024R1.1tR1.2tR16.9b9x62.4x0.9x
Thu, 30 May 2024R1.2tR1.2tR15.5b8.8x74.4x1x
Sat, 27 Apr 2024R1.1tR1.2tR16.8b8x66.3x0.9x
Mon, 25 Mar 2024R1.1tR1.2tR16.7b8.2x65.9x0.9x
Wed, 21 Feb 2024R1.0tR1.2tR79.4b9.6x13.1x0.9x
Fri, 19 Jan 2024R1.1tR1.2tR106.4b9.5x10.3x0.9x
Sun, 17 Dec 2023R1.2tR1.2tR106.4b9x11.3x1x
Tue, 14 Nov 2023R1.1tR1.2tR107.7b8.3x10.1x0.9x
Thu, 12 Oct 2023R1.1tR1.3tR109.0b8.7x10.3x0.9x
Sat, 09 Sep 2023R1.2tR1.3tR112.0b8.2x10.6x0.9x
Mon, 07 Aug 2023R1.3tR1.4tR188.1b5.6x7.1x1x
Wed, 05 Jul 2023R1.4tR1.4tR215.6b4.7x6.4x1x
Fri, 02 Jun 2023R1.6tR1.4tR230.9b5x6.9x1.1x
Sun, 30 Apr 2023R1.6tR1.4tR234.3b5.6x6.8x1.1x
Tue, 28 Mar 2023R1.5tR1.4tR222.0b5.4x6.6x1x
Thu, 23 Feb 2023R1.4tR1.4tR225.4b5.5x6.3x1x
Sat, 21 Jan 2023R1.7tR1.4tR248.4b5.9x6.8x1.2x
Mon, 19 Dec 2022R1.6tR1.4tR249.3b6.1x6.4x1.1x
Wed, 16 Nov 2022R1.7tR1.4tR249.2b6.5x6.9x1.2x
Price to Earnings Ratio

6.9x


Total Market Cap: R1.7tTotal Earnings: R249.2bTotal Revenue: R1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Materials Sector Price to Earnings3Y Average -7.5x202320242025
Current Industry PE
  • Investors are pessimistic on the South African Materials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 27.5x which is higher than its 3-year average PE of -7.5x.
  • The 3-year average PS ratio of 1.0x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 37% per year over the last three years,
  • Revenues have also declined 7.0% 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 Materials sector?

ZA Market-0.37%
Materials-1.31%
Chemicals2.73%
Packaging0.74%
Paper and Forestry Products-0.77%
Metals and Mining-1.50%
Basic Materials-6.66%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry even though it's trading below its 3-year average PE ratio of 36.2x.
    • Analysts are expecting annual earnings growth of 29.6%, which is higher than its past year's earnings decline of 34.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Paper and Forestry Products industry, expecting annual earnings growth of 80% over the next 5 years.
  • However this is lower than its past earnings growth rate of 426% per year.
  • In contrast, the Packaging industry is expected to see its earnings grow by 19% 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
SOL SasolR111.933.9%
+R2.7b		12.3%PE10.7x
IMP Impala Platinum HoldingsR187.780.7%
+R1.2b		66.2%PE221.3x
NPK NampakR498.003.5%
+R140.9m		6.6%PE6.6x
MRF Merafe ResourcesR1.132.7%
+R75.0m		-21.5%PE15.6x
GML Gemfields GroupR1.343.1%
+R69.0m		-41.7%PS0.9x

Latest News

SSW
R45.70
Sibanye Stillwater
7D
-1.4%
1Y
125.3%

SSW: Future Depends On Platinum Group Metal Gains Amid Gold Weakness

The analyst price target for Sibanye Stillwater has increased from $7.00 to $8.50, as analysts cite improved prospects in its platinum group metal business and expectations for stronger back-end weighted production following a recent rise in PGM prices. Analyst Commentary Analysts have provided a nuanced outlook on Sibanye Stillwater, reflecting both optimism and ongoing concerns.
HAR
R284.44
Harmony Gold Mining
7D
-2.3%
1Y
60.3%

HAR: Revenue Gains And Margin Expansion Will Drive Share Upside

Analysts have increased their price target for Harmony Gold Mining from $330.71 to $336.67. They cite improving revenue growth and expanding profit margins as key factors behind the more optimistic outlook.
KIO
R329.43
Kumba Iron Ore
7D
-4.6%
1Y
-3.6%

KIO: Future Production Will Face Risk From Maintenance And Plant Upgrades

Analysts have raised their price target for Kumba Iron Ore from R320.88 to R323.58. This reflects updated expectations around the company’s outlook and underlying financial metrics.
TPC
R35.20
Transpaco
7D
3.2%
1Y
-9.7%

Here's Why Transpaco (JSE:TPC) Can Manage Its Debt Responsibly

Nov 05
Here's Why Transpaco (JSE:TPC) Can Manage Its Debt Responsibly
BIK
R0.17
Brikor
7D
30.8%
1Y
13.3%

Brikor Limited's (JSE:BIK) Price Is Right But Growth Is Lacking

Nov 05
Brikor Limited's (JSE:BIK) Price Is Right But Growth Is Lacking
SOL
R111.93
Sasol
7D
3.9%
1Y
12.3%
GFI
R672.77
Gold Fields
7D
-0.8%
1Y
142.6%

GFI: Windfall Progress Will Drive Medium-Term Upside Following Australian Mine Deal

Analysts have raised Gold Fields' fair value estimate by approximately $85 to $789, citing updated forecasts for improved profit margins, revenue growth, as well as a supportive outlook for gold prices and capital returns. Analyst Commentary Recent Street research on Gold Fields highlights both optimism and caution among analysts regarding the company’s future prospects, as reflected in recent ratings and price target adjustments.
IMP
R187.78
Impala Platinum Holdings
7D
0.7%
1Y
66.2%

IMP: Rising Earnings Guidance Will Drive Renewed Optimism Despite 79% EPS Decline

Analysts have raised their price target for Impala Platinum Holdings from $210.88 to $219.52, citing moderate improvements in fair value estimates as well as future earnings multiples. What's in the News Impala Platinum Holdings issued new earnings guidance for the year ending 30 June 2025 (Key Developments).
NPH
R270.00
Northam Platinum Holdings
7D
-6.9%
1Y
120.7%

NPH: Dividend Increase And Steady Margins Will Offset Elevated Discount Rate

Analysts have raised their price target for Northam Platinum Holdings from R261.44 to R276.44. This reflects increased conviction in the company's fair value, despite a slight uptick in the assumed discount rate and future price-to-earnings ratio.
VAL
R1,066.07
Valterra Platinum
7D
-0.7%
1Y
58.7%

VAL: Price Rally Will Face Risks From Ongoing Competitive Pressures

Narrative Update: Valterra Platinum Analyst Price Target Revised Valterra Platinum's analyst price target has increased by £600 to £3,200 per share. Analysts cite higher fair value estimates and stable profit margins as key drivers for their updated outlook.
AFT
R40.77
Afrimat
7D
-10.4%
1Y
-38.3%

Afrimat's (JSE:AFT) Sluggish Earnings Might Be Just The Beginning Of Its Problems

Oct 30
Afrimat's (JSE:AFT) Sluggish Earnings Might Be Just The Beginning Of Its Problems
GML
R1.34
Gemfields Group
7D
3.1%
1Y
-41.7%

Is Gemfields Group (JSE:GML) A Risky Investment?

Oct 08
Is Gemfields Group (JSE:GML) A Risky Investment?
MDI
R16.20
Master Drilling Group
7D
2.9%
1Y
20.0%

We Like These Underlying Return On Capital Trends At Master Drilling Group (JSE:MDI)

Oct 07
We Like These Underlying Return On Capital Trends At Master Drilling Group (JSE:MDI)
PPC
R5.28
PPC
7D
-4.2%
1Y
27.2%
MRF
R1.13
Merafe Resources
7D
2.7%
1Y
-21.5%
NPK
R498.00
Nampak
7D
3.5%
1Y
6.6%
User avatar

Recyclable Packaging Trends Will Transform African Markets

Rising demand for recyclable metal cans and sustainability trends position Nampak to gain market share and capture premium pricing as plastic alternatives decline.