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South African (JSE) Materials Sector Analysis

UpdatedDec 03, 2025
DataAggregated Company Financials
Companies29
  • 7D6.1%
  • 3M17.2%
  • 1Y94.3%
  • YTD102.4%

In the last week, the Materials industry is up 6.1%, with Valterra Platinum up 13%. In the last 12 months, the industry was up 94%. 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
Wed, 03 Dec 2025R1.9tR1.1tR63.2b12.4x30.3x1.7x
Fri, 31 Oct 2025R1.8tR1.1tR68.1b11.1x26.1x1.6x
Sun, 28 Sep 2025R1.9tR1.1tR68.1b10.6x27.6x1.7x
Tue, 26 Aug 2025R1.5tR1.1tR47.5b10.4x32.2x1.4x
Thu, 24 Jul 2025R1.5tR1.1t-R12,308,634,037.317.4x-120.9x1.3x
Sat, 21 Jun 2025R1.3tR1.1t-R11,552,717,344.327.7x-111.6x1.1x
Mon, 19 May 2025R1.1tR1.1t-R11,226,641,238.487.2x-99.5x1x
Wed, 16 Apr 2025R1.3tR1.1t-R8,166,057,356.397.6x-157.5x1.1x
Fri, 14 Mar 2025R1.1tR1.1t-R8,227,807,158.748x-135.7x1x
Sun, 09 Feb 2025R1.1tR1.1t-R49,777,676,329.318.4x-21.8x0.9x
Tue, 07 Jan 2025R933.7bR1.1t-R52,209,407,473.129.5x-17.9x0.8x
Thu, 05 Dec 2024R982.8bR1.1t-R52,584,191,634.539.7x-18.7x0.9x
Sat, 02 Nov 2024R1.1tR1.1t-R58,638,025,663.279.6x-18.5x1x
Mon, 30 Sep 2024R1.1tR1.1t-R60,533,748,958.0510.8x-17.4x0.9x
Wed, 28 Aug 2024R1.1tR1.1t-R38,031,569,272.078.9x-27.7x0.9x
Fri, 26 Jul 2024R1.1tR1.2tR12.9b8.7x85x0.9x
Sun, 23 Jun 2024R1.1tR1.2tR15.3b9x69.3x0.9x
Tue, 21 May 2024R1.2tR1.2tR15.7b8.7x77.7x1x
Thu, 18 Apr 2024R1.2tR1.2tR17.0b8.1x71.7x1x
Sat, 16 Mar 2024R1.0tR1.2tR16.2b8.3x63.9x0.9x
Mon, 12 Feb 2024R1.0tR1.2tR96.7b9.3x10.6x0.8x
Wed, 10 Jan 2024R1.2tR1.2tR106.1b9.6x10.9x0.9x
Fri, 08 Dec 2023R1.1tR1.2tR108.1b9.4x10.6x0.9x
Sun, 05 Nov 2023R1.1tR1.3tR108.4b8.4x10.2x0.9x
Tue, 03 Oct 2023R1.1tR1.3tR109.4b8.5x10x0.9x
Thu, 31 Aug 2023R1.3tR1.4tR138.0b6.8x9.2x0.9x
Sat, 29 Jul 2023R1.4tR1.4tR189.6b5.5x7.5x1x
Mon, 26 Jun 2023R1.4tR1.4tR215.1b4.7x6.5x1x
Wed, 24 May 2023R1.6tR1.4tR233.0b5.1x6.8x1.1x
Fri, 21 Apr 2023R1.6tR1.4tR227.3b5.6x7.2x1.2x
Sun, 19 Mar 2023R1.4tR1.4tR220.4b5.6x6.4x1x
Tue, 14 Feb 2023R1.6tR1.4tR246.4b6.2x6.5x1.1x
Thu, 12 Jan 2023R1.8tR1.4tR247.9b6.6x7.1x1.3x
Sat, 10 Dec 2022R1.7tR1.4tR248.5b6.9x6.8x1.2x
Price to Earnings Ratio

6.8x


Total Market Cap: R1.7tTotal Earnings: R248.5bTotal Revenue: R1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Materials Sector Price to Earnings3Y Average -7x202320242025
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 30.3x which is higher than its 3-year average PE of -7.0x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.7x.
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 7.2% 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 Market0.56%
Materials6.08%
Metals and Mining6.62%
Basic Materials5.18%
Packaging2.38%
Chemicals-1.38%
Paper and Forestry Products-4.55%
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 36.7x.
    • Analysts are expecting annual earnings growth of 29.2%, 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
VAL Valterra PlatinumR1.21k13.3%
+R37.3b		100.2%PE240.9x
IMP Impala Platinum HoldingsR214.9811.1%
+R19.2b		99.5%PE253.4x
GFI Gold FieldsR710.042.6%
+R16.0b		174.7%PE19.7x
HAR Harmony Gold MiningR332.606.5%
+R12.7b		102.0%PE14.4x
NPH Northam Platinum HoldingsR311.0011.8%
+R12.4b		171.6%PE77.4x

Latest News

ARI
R180.32
African Rainbow Minerals
7D
5.5%
1Y
12.1%

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

Dec 02
Is African Rainbow Minerals (JSE:ARI) A Risky Investment?
NPH
R311.00
Northam Platinum Holdings
7D
11.8%
1Y
171.6%
GFI
R710.04
Gold Fields
7D
2.6%
1Y
174.7%

GFI: Future Sector Trends And Project Delivery Will Shape Medium-Term Prospects

The analyst price target for Gold Fields increased by $8.67 to $815.61. Analysts cited higher gold prices, updated guidance, and ongoing project momentum as key factors behind the upward revision.
PPC
R5.33
PPC
7D
5.3%
1Y
17.7%
VAL
R1,213.93
Valterra Platinum
7D
13.3%
1Y
100.2%

VAL: Shares Will Face Pressure Amid Sustainability Concerns Despite Recent Stock Rally

Analysts have increased their price target for Valterra Platinum from £26.00 to £32.00 per share. They cite a modest improvement in revenue growth expectations and updated model assumptions as the reasons for this adjustment.
HAR
R332.60
Harmony Gold Mining
7D
6.5%
1Y
102.0%
BCF
R13.30
Bowler Metcalf
7D
-11.3%
1Y
2.2%

Bowler Metcalf Limited (JSE:BCF) Not Lagging Market On Growth Or Pricing

Nov 26
Bowler Metcalf Limited (JSE:BCF) Not Lagging Market On Growth Or Pricing
SSW
R54.58
Sibanye Stillwater
7D
8.1%
1Y
191.2%
SOL
R107.82
Sasol
7D
-1.7%
1Y
20.3%
KIO
R330.11
Kumba Iron Ore
7D
-0.8%
1Y
-4.8%

KIO: Fair Value Maintained While Production Faces Pressure From Plant Maintenance

Analysts have maintained their fair value estimate for Kumba Iron Ore at R323.58 per share. They cite only minor adjustments to discount rates and profit margin forecasts in their latest review.
SAP
R21.38
Sappi
7D
-5.0%
1Y
-58.1%

Is Sappi (JSE:SAP) A Risky Investment?

Nov 21
Is Sappi (JSE:SAP) A Risky Investment?
IMP
R214.98
Impala Platinum Holdings
7D
11.1%
1Y
99.5%

IMP: Rising Profit Margins Will Drive Improved Returns in Coming Year

Analysts have increased their price target for Impala Platinum Holdings from R219.52 to R227.65, citing improved profit margin expectations and stronger projected revenue growth. What's in the News Impala Platinum Holdings announced operating results for Q1 2025, reporting 6E Group production of 882,000 oz, down from 928,000 oz a year ago (Key Developments).
HLM
R2.35
Hulamin
7D
-4.9%
1Y
-32.5%

Hulamin's (JSE:HLM) Returns Have Hit A Wall

Oct 22
Hulamin's (JSE:HLM) Returns Have Hit A Wall
ACL
R1.27
ArcelorMittal South Africa
7D
-3.8%
1Y
-6.6%

Is ArcelorMittal South Africa (JSE:ACL) Using Debt Sensibly?

Sep 08
Is ArcelorMittal South Africa (JSE:ACL) Using Debt Sensibly?
MRF
R1.08
Merafe Resources
7D
-2.7%
1Y
-24.5%
MPT
R20.36
Mpact
7D
-3.0%
1Y
-29.1%