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

South African (JSE) Materials Sector Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies31
  • 7D-4.9%
  • 3M-27.7%
  • 1Y4.3%
  • YTD-25.6%

Over the last 7 days, the Materials industry has dropped 2.6%, driven by Gold Fields declining 7.1%. On the other hand Sasol is actually up 7.3%. This takes the industry's 12 month performance to a gain of 11%. As for the next few years, earnings are expected to grow by 18% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Jul 2026R1.6tR1.2tR116.4b9x13.3x1.3x
Thu, 18 Jun 2026R1.9tR1.2tR116.6b10.1x16.1x1.6x
Sat, 16 May 2026R2.0tR1.2tR115.9b10.2x17.2x1.7x
Mon, 13 Apr 2026R2.2tR1.2tR121.6b11.4x17.9x1.8x
Wed, 11 Mar 2026R2.3tR1.2tR118.7b13.1x19.3x2x
Fri, 06 Feb 2026R2.2tR1.1tR60.8b11.8x36.3x2x
Sun, 04 Jan 2026R2.1tR1.1tR63.0b12.5x32.9x1.9x
Tue, 02 Dec 2025R2.0tR1.1tR63.1b12.7x31.2x1.8x
Thu, 30 Oct 2025R1.8tR1.1tR68.0b11.1x26.1x1.6x
Sat, 27 Sep 2025R1.9tR1.1tR68.1b10.6x27.6x1.7x
Mon, 25 Aug 2025R1.5tR1.1t-R8,665,699,322.6710x-172.4x1.3x
Wed, 23 Jul 2025R1.5tR1.1t-R12,240,851,305.127.6x-121.1x1.3x
Fri, 20 Jun 2025R1.3tR1.1t-R11,508,500,358.027.7x-114.6x1.2x
Sun, 18 May 2025R1.1tR1.1t-R11,226,641,238.487.2x-99.5x1x
Tue, 15 Apr 2025R1.3tR1.1t-R8,502,989,173.947.6x-148.4x1.1x
Thu, 13 Mar 2025R1.1tR1.1t-R8,215,533,771.878x-134.6x1x
Sat, 08 Feb 2025R1.1tR1.1t-R49,768,960,619.168.4x-21.8x0.9x
Mon, 06 Jan 2025R938.6bR1.1t-R52,066,926,426.399.4x-18x0.8x
Wed, 04 Dec 2024R984.0bR1.1t-R52,588,673,811.069.8x-18.7x0.9x
Fri, 01 Nov 2024R1.1tR1.1t-R58,657,395,254.269.7x-19.1x1x
Sun, 29 Sep 2024R1.1tR1.1t-R60,533,748,958.0510.8x-17.4x0.9x
Tue, 27 Aug 2024R1.0tR1.1t-R38,019,156,582.878.9x-27.5x0.9x
Thu, 25 Jul 2024R1.1tR1.2tR12.9b8.6x86.7x1x
Sat, 22 Jun 2024R1.1tR1.2tR15.3b9x69.3x0.9x
Mon, 20 May 2024R1.2tR1.2tR15.7b8.6x76.6x1x
Wed, 17 Apr 2024R1.2tR1.2tR17.0b8.2x73.2x1x
Fri, 15 Mar 2024R1.1tR1.2tR16.2b8.3x65.4x0.9x
Sun, 11 Feb 2024R1.0tR1.2tR96.7b9.3x10.6x0.8x
Tue, 09 Jan 2024R1.2tR1.2tR106.1b9.6x10.9x0.9x
Thu, 07 Dec 2023R1.1tR1.2tR108.2b9.4x10.6x0.9x
Sat, 04 Nov 2023R1.1tR1.3tR108.3b8.4x10.2x0.9x
Mon, 02 Oct 2023R1.1tR1.3tR109.1b8.6x10.1x0.9x
Wed, 30 Aug 2023R1.3tR1.4tR142.5b6.8x8.8x0.9x
Fri, 28 Jul 2023R1.4tR1.4tR192.9b5x7.4x1x
Price to Earnings Ratio

7.4x


Total Market Cap: R1.4tTotal Earnings: R192.9bTotal Revenue: R1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Materials Sector Price to Earnings3Y Average -3.6x202420252026
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 13.5x which is higher than its 3-year average PE of -3.6x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 16% per year over the last three years,
  • Revenues have also declined 4.8% 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-1.49%
Materials-4.94%
Chemicals4.53%
Paper and Forestry Products4.53%
Basic Materials-0.046%
Packaging-3.33%
Metals and Mining-5.99%
Industry PE
  • Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 11.7x.
    • Analysts are expecting annual earnings growth of 39.4%, which is higher than its past year's earnings growth of 22.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Paper and Forestry Products industry, expecting annual earnings growth of 120% over the next 5 years.
  • This is better than its past earnings growth rate of 29% per year.
  • In contrast, the Packaging industry is expected to see its earnings grow by 4.6% 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 SasolR188.796.6%
+R7.6b		110.1%PE50.6x
SAP SappiR11.005.5%
+R346.0m		-60.7%PS0.08x
ACL ArcelorMittal South AfricaR1.3816.9%
+R286.2m		48.4%PS0.06x
RNG Randgold & ExplorationR4.0535.0%
+R75.2m		406.3%PB7.1x
THA TharisaR24.751.0%
+R74.1m		7.6%PE3.7x

Latest News

SOL
R188.79
Sasol
7D
6.6%
1Y
110.1%
KIO
R268.59
Kumba Iron Ore
7D
-5.2%
1Y
-17.3%
HAR
R239.00
Harmony Gold Mining
7D
-5.4%
1Y
-10.1%
GFI
R515.38
Gold Fields
7D
-6.6%
1Y
12.8%
ARI
R165.08
African Rainbow Minerals
7D
-5.6%
1Y
-16.6%
VAL
R1,074.70
Valterra Platinum
7D
-4.2%
1Y
13.0%
IMP
R174.70
Impala Platinum Holdings
7D
-7.6%
1Y
-6.8%
Narrative Update • Jul 15

IMP: Future Returns Will Reflect Stronger Margins On Stable 6E Volumes

Analysts have reduced their fair value estimate for Impala Platinum Holdings from about ZAR354 to about ZAR275, reflecting updated views on expected revenue growth, profit margins and a higher assumed P/E multiple. What's in the News Impala Platinum Holdings reported 6E Group production of 762,000 oz for the third quarter ended March 31, 2026, compared with 766,000 oz for the same quarter a year earlier.
THA
R24.75
Tharisa
7D
1.0%
1Y
7.6%
SAP
R11.00
Sappi
7D
5.5%
1Y
-60.7%
AFT
R27.00
Afrimat
7D
1.2%
1Y
-41.5%
Analysis Article • Jul 14

Need To Know: Analysts Are Much More Bullish On Afrimat Limited (JSE:AFT) Revenues

Afrimat Limited ( JSE:AFT ) shareholders will have a reason to smile today, with the analysts making substantial...
SSW
R32.90
Sibanye Stillwater
7D
-6.2%
1Y
-22.0%
Narrative Update • Jul 09

SSW: Cost Discipline And Production Plans Will Guide Balanced Future Returns

Analysts have trimmed their fair value estimate for Sibanye Stillwater from ZAR48.43 to ZAR33.00, citing updated assumptions on discount rates, revenue growth, profit margins, future P/E multiples, and recent Street target reductions. What's in the News Sibanye Stillwater held an Analyst and Investor Day focused on the group’s international and recycling operations, outlining capital and production plans for these parts of the business.
NPH
R225.22
Northam Platinum Holdings
7D
-8.1%
1Y
1.8%
Narrative Update • Jul 08

NPH: Higher Margin Outlook Will Support Continued Bullish Future P/E View

Analysts have trimmed their price target on Northam Platinum Holdings to ZAR369.17 from ZAR403.92, reflecting updated assumptions for slightly higher discount rates, more moderate revenue expectations, a marginally stronger profit margin profile, and a steady future P/E outlook. What’s in the News for Northam Platinum Holdings No recent company specific news items were identified for Northam Platinum Holdings based on the provided sources.
SEP
R1.90
Sephaku Holdings
7D
6.7%
1Y
29.3%
Analysis Article • Jul 02

Should You Be Adding Sephaku Holdings (JSE:SEP) To Your Watchlist Today?

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
GML
R0.61
Gemfields Group
7D
1.7%
1Y
-53.4%
ACL
R1.38
ArcelorMittal South Africa
7D
16.9%
1Y
48.4%
RNG
R4.05
Randgold & Exploration
7D
35.0%
1Y
406.3%