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

South African (JSE) Materials Sector Analysis

UpdatedJan 12, 2026
DataAggregated Company Financials
Companies29
  • 7D0.6%
  • 3M10.3%
  • 1Y113.0%
  • YTD3.0%

The Materials industry has stayed flat over the last week. The past year has been better, since the industry has gained 113% in that time. As for the next few years, earnings are expected to grow by 35% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 12 Jan 2026R2.1tR1.1tR63.0b12.9x33.9x1.9x
Wed, 10 Dec 2025R1.9tR1.1tR64.0b12.4x29.8x1.7x
Fri, 07 Nov 2025R1.8tR1.1tR68.3b10.8x25.7x1.6x
Sun, 05 Oct 2025R1.9tR1.1tR68.0b10.6x27.8x1.7x
Tue, 02 Sep 2025R1.6tR1.1tR72.1b10.9x21.6x1.4x
Thu, 31 Jul 2025R1.4tR1.1t-R17,416,210,545.987.5x-82.7x1.3x
Sat, 28 Jun 2025R1.3tR1.1t-R11,759,878,319.587.7x-108.9x1.1x
Mon, 26 May 2025R1.3tR1.1t-R12,033,775,054.547.2x-106.1x1.1x
Wed, 23 Apr 2025R1.3tR1.1t-R8,823,208,695.857.4x-145.6x1.1x
Fri, 21 Mar 2025R1.2tR1.1t-R8,480,337,734.148.4x-140.3x1.1x
Sun, 16 Feb 2025R1.1tR1.1t-R49,826,347,205.088.6x-22.1x1x
Tue, 14 Jan 2025R1.0tR1.1t-R51,810,946,184.129.4x-19.4x0.9x
Thu, 12 Dec 2024R986.4bR1.1t-R52,879,752,469.889.8x-18.7x0.9x
Sat, 09 Nov 2024R1.0tR1.1t-R58,681,574,743.699.5x-17.8x0.9x
Mon, 07 Oct 2024R1.1tR1.1t-R59,822,641,081.599.8x-17.8x0.9x
Wed, 04 Sep 2024R949.8bR1.1t-R42,984,766,850.8410.8x-22.1x0.8x
Fri, 02 Aug 2024R1.1tR1.2tR12.5b8.8x89.2x1x
Sun, 30 Jun 2024R1.1tR1.2tR16.7b9x63.6x0.9x
Tue, 28 May 2024R1.2tR1.2tR15.6b8.7x75.6x1x
Thu, 25 Apr 2024R1.1tR1.2tR17.1b7.9x65.9x0.9x
Sat, 23 Mar 2024R1.1tR1.2tR16.7b8.2x65.9x0.9x
Mon, 19 Feb 2024R1.0tR1.2tR96.5b9x10.9x0.9x
Wed, 17 Jan 2024R1.1tR1.2tR106.5b10.2x10.6x0.9x
Fri, 15 Dec 2023R1.2tR1.2tR106.4b9x11.3x1x
Sun, 12 Nov 2023R1.1tR1.2tR107.7b8.2x9.8x0.8x
Tue, 10 Oct 2023R1.1tR1.3tR109.6b8.7x9.9x0.9x
Thu, 07 Sep 2023R1.2tR1.4tR112.1b8x10.8x0.9x
Sat, 05 Aug 2023R1.3tR1.4tR188.0b5.6x7.1x1x
Mon, 03 Jul 2023R1.4tR1.4tR215.8b4.7x6.3x1x
Wed, 31 May 2023R1.5tR1.5tR231.1b5x6.7x1.1x
Fri, 28 Apr 2023R1.6tR1.4tR234.3b5.4x6.8x1.1x
Sun, 26 Mar 2023R1.4tR1.4tR221.7b5.3x6.5x1x
Tue, 21 Feb 2023R1.5tR1.4tR246.9b5.8x6.2x1.1x
Thu, 19 Jan 2023R1.7tR1.4tR248.1b6.2x6.9x1.2x
Price to Earnings Ratio

6.9x


Total Market Cap: R1.7tTotal Earnings: R248.1bTotal Revenue: R1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Materials Sector Price to Earnings3Y Average -6.1x202420252026
Current Industry PE
  • Investors are optimistic on the South African Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 33.9x which is higher than its 3-year average PE of -6.1x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.9x.
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 7.3% 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 Market1.16%
Materials0.62%
Paper and Forestry Products7.60%
Basic Materials4.24%
Chemicals3.61%
Metals and Mining0.40%
Packaging-0.31%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry, which is trading close to its 3-year average PE ratio of 37.7x.
    • Analysts are expecting annual earnings growth of 35.0%, 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 85% 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 8.3% 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
GFI Gold FieldsR789.946.7%
+R44.7b		179.4%PE22.9x
HAR Harmony Gold MiningR372.549.9%
+R20.9b		110.9%PE16.1x
IMP Impala Platinum HoldingsR300.008.4%
+R20.9b		195.1%PE353.6x
VAL Valterra PlatinumR1.54k5.0%
+R19.1b		142.8%PE304.8x
SSW Sibanye StillwaterR69.308.5%
+R15.3b		310.8%PS1.8x

Latest News

VAL
R1,536.00
Valterra Platinum
7D
5.0%
1Y
142.8%
GFI
R789.94
Gold Fields
7D
6.7%
1Y
179.4%
SSW
R69.30
Sibanye Stillwater
7D
8.5%
1Y
310.8%
IMP
R300.00
Impala Platinum Holdings
7D
8.4%
1Y
195.1%
NPH
R375.53
Northam Platinum Holdings
7D
6.5%
1Y
244.6%

NPH: Higher P/E Assumptions Will Limit Future Upside Despite Firm Margins

Analysts have nudged their price target for Northam Platinum Holdings higher to R290.06 from R283.06, reflecting updated assumptions around discount rates, margins, and future P/E expectations. Valuation Changes Fair Value: Updated slightly higher from R283.06 to R290.06 per share.
THA
R27.01
Tharisa
7D
-6.9%
1Y
76.5%
SOL
R110.40
Sasol
7D
3.1%
1Y
13.3%
HAR
R372.54
Harmony Gold Mining
7D
9.9%
1Y
110.9%

HAR: Copper Expansion And Payout Policy Will Support Balanced Medium Term Outlook

Analysts have nudged their price target for Harmony Gold Mining up slightly, with fair value moving from $365.00 to $370.00 as they factor in updated assumptions around the discount rate, long term revenue growth, profit margins, and a future P/E of 12.46x. What's in the News Approved high margin, long life EVA COPPER PRO project after a three year feasibility study and FEED phase using Tier 1 contractors.
BIK
R0.12
Brikor
7D
-14.3%
1Y
-14.3%

Brikor Limited's (JSE:BIK) 29% Dip In Price Shows Sentiment Is Matching Revenues

Dec 20
Brikor Limited's (JSE:BIK) 29% Dip In Price Shows Sentiment Is Matching Revenues
NPK
R526.83
Nampak
7D
-0.9%
1Y
35.8%
KIO
R359.57
Kumba Iron Ore
7D
-1.2%
1Y
6.5%
MDI
R16.02
Master Drilling Group
7D
-5.2%
1Y
19.6%
ARI
R212.60
African Rainbow Minerals
7D
5.6%
1Y
40.4%

Is African Rainbow Minerals (JSE:ARI) A Risky Investment?

Dec 02
Is African Rainbow Minerals (JSE:ARI) A Risky Investment?
RNG
R0.65
Randgold & Exploration
7D
-9.7%
1Y
-13.3%