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South African (JSE) Materials Sector Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies30
  • 7D-0.04%
  • 3M26.6%
  • 1Y69.7%
  • YTD76.6%

In the last week, Materials has been flat. The past year has been better, since the industry has gained 70% in that time. As for the next few years, earnings are expected to grow by 26% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Sep 2025R1.7tR1.1tR68.7b11.3x24.3x1.5x
Sat, 16 Aug 2025R1.5tR1.1t-R19,577,452,398.779.7x-75.8x1.3x
Mon, 14 Jul 2025R1.4tR1.1t-R11,714,405,418.437.6x-118.6x1.2x
Wed, 11 Jun 2025R1.3tR1.1t-R11,905,370,545.317.1x-110.7x1.2x
Fri, 09 May 2025R1.2tR1.1t-R9,426,343,508.317.2x-124x1x
Sun, 06 Apr 2025R1.1tR1.1t-R6,763,380,076.917.6x-155.3x0.9x
Tue, 04 Mar 2025R1.0tR1.1t-R9,204,913,896.518.4x-112.9x0.9x
Thu, 30 Jan 2025R1.0tR1.1t-R52,196,326,475.429.3x-19.8x0.9x
Sat, 28 Dec 2024R920.0bR1.1t-R52,147,057,328.439.6x-17.6x0.8x
Mon, 25 Nov 2024R1.0tR1.1t-R56,038,584,689.3110.3x-18.2x0.9x
Wed, 23 Oct 2024R1.1tR1.1t-R58,692,433,922.949.7x-19.1x1x
Fri, 20 Sep 2024R998.7bR1.1t-R60,214,179,396.2210.5x-16.6x0.9x
Sun, 18 Aug 2024R1.1tR1.2tR11.1b9.2x95.4x0.9x
Tue, 16 Jul 2024R1.1tR1.2tR16.7b9x66.3x0.9x
Thu, 13 Jun 2024R1.0tR1.2tR15.7b8.7x65.4x0.9x
Sat, 11 May 2024R1.2tR1.2tR15.8b8.6x74.4x1x
Mon, 08 Apr 2024R1.1tR1.2tR16.7b8.7x68.6x1x
Wed, 06 Mar 2024R1.0tR1.2tR19.8b8.8x52.4x0.9x
Fri, 02 Feb 2024R1.2tR1.2tR106.1b10.2x11x0.9x
Sun, 31 Dec 2023R1.3tR1.2tR105.8b9.7x12x1x
Tue, 28 Nov 2023R1.2tR1.2tR108.0b9.5x10.9x0.9x
Thu, 26 Oct 2023R1.1tR1.3tR109.3b8.4x10x0.9x
Sat, 23 Sep 2023R1.3tR1.3tR111.5b9.8x11.3x0.9x
Mon, 21 Aug 2023R1.2tR1.4tR182.8b5.7x6.5x0.9x
Wed, 19 Jul 2023R1.4tR1.4tR214.3b5x6.7x1x
Fri, 16 Jun 2023R1.6tR1.4tR222.8b5x7x1.1x
Sun, 14 May 2023R1.6tR1.4tR233.9b5.1x7x1.1x
Tue, 11 Apr 2023R1.5tR1.4tR221.9b5.1x6.8x1.1x
Thu, 09 Mar 2023R1.4tR1.4tR221.1b5.5x6.3x1x
Sat, 04 Feb 2023R1.7tR1.4tR249.1b6x6.7x1.2x
Mon, 02 Jan 2023R1.6tR1.4tR247.7b6.3x6.5x1.2x
Wed, 30 Nov 2022R1.7tR1.4tR247.9b6x6.7x1.2x
Fri, 28 Oct 2022R1.5tR1.4tR250.8b6.2x6.1x1.1x
Sun, 25 Sep 2022R1.3tR1.4tR250.8b5.3x5.1x0.9x
Price to Earnings Ratio

5.1x


Total Market Cap: R1.3tTotal Earnings: R250.8bTotal Revenue: R1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Materials Sector Price to Earnings3Y Average -8.5x202320242025
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 24.3x which is higher than its 3-year average PE of -8.5x.
  • The 3-year average PS ratio of 1.0x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 35% 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 Market1.50%
Materials-0.044%
Basic Materials0.67%
Metals and Mining0.24%
Packaging-0.88%
Chemicals-3.47%
Paper and Forestry Products-4.75%
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 35.1x.
    • Analysts are expecting annual earnings growth of 25.2%, which is higher than its past year's earnings decline of 34.4% per year.
  • Investors are most pessimistic about the Packaging industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 2.5x.
Forecasted Growth
  • Analysts are most optimistic on the Paper and Forestry Products industry, expecting annual earnings growth of 44% over the next 5 years.
  • In contrast, the Packaging industry is expected to see its earnings grow by 20% 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 FieldsR667.332.4%
+R14.2b		159.9%PE18.2x
KIO Kumba Iron OreR315.501.0%
+R1.0b		-7.6%PE6.9x
SSW Sibanye StillwaterR38.090.4%
+R396.3m		108.9%PS1x
AFT AfrimatR38.504.8%
+R269.4m		-42.6%PE61.3x
ACL ArcelorMittal South AfricaR1.2514.7%
+R228.9m		4.2%PS0.05x

Latest News

AFT
R38.50
Afrimat
7D
4.8%
1Y
-42.6%
SSW
R38.09
Sibanye Stillwater
7D
0.4%
1Y
108.9%

Lithium Oversupply And Global Electrification Will Reshape Metals Markets

Despite softer first-half operational performance and continued weakness in the South Africa Gold segment, analysts have raised Sibanye Stillwater’s price target to ZAR32.40, driven by a stronger outlook for platinum group metals and benefit from improved PGM prices. Analyst Commentary Softer first-half operational performance, particularly in the South Africa Gold business, led to another guidance downgrade.
ARI
R168.36
African Rainbow Minerals
7D
-2.4%
1Y
-3.4%

Some May Be Optimistic About African Rainbow Minerals' (JSE:ARI) Earnings

Sep 12
Some May Be Optimistic About African Rainbow Minerals' (JSE:ARI) Earnings
IMP
R186.50
Impala Platinum Holdings
7D
-1.7%
1Y
101.9%
VAL
R971.12
Valterra Platinum
7D
-0.8%
1Y
71.1%
ACL
R1.25
ArcelorMittal South Africa
7D
14.7%
1Y
4.2%

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

Sep 08
Is ArcelorMittal South Africa (JSE:ACL) Using Debt Sensibly?
HAR
R264.56
Harmony Gold Mining
7D
-2.5%
1Y
53.1%
NPH
R226.28
Northam Platinum Holdings
7D
-2.5%
1Y
108.4%
SAP
R26.13
Sappi
7D
-5.1%
1Y
-45.1%
SOL
R118.59
Sasol
7D
-5.0%
1Y
-4.8%
GFI
R667.33
Gold Fields
7D
2.4%
1Y
159.9%
OMN
R73.16
Omnia Holdings
7D
1.5%
1Y
16.1%
KIO
R315.50
Kumba Iron Ore
7D
1.0%
1Y
-7.6%
MPT
R26.00
Mpact
7D
-4.6%
1Y
-7.1%
AFE
R106.43
AECI
7D
1.9%
1Y
2.9%
GML
R1.37
Gemfields Group
7D
5.4%
1Y
-49.8%