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South African (JSE) Materials Sector Analysis

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies29
  • 7D7.3%
  • 3M44.2%
  • 1Y141.9%
  • YTD18.5%

Valterra Platinum is up 12%, leading the way for the Materials industry, which has gained 8.4%. Meanwhile, Sappi actually underperformed within the industry, shrinking 6.2% in the last week. This means that the industry has gained 136% over the past year. As for the next few years, earnings are expected to grow by 37% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 26 Jan 2026R2.5tR1.1tR62.4b13.8x39.4x2.2x
Wed, 24 Dec 2025R2.1tR1.1tR63.4b12.8x33.9x1.9x
Fri, 21 Nov 2025R1.8tR1.1tR63.4b12.2x28.6x1.6x
Sun, 19 Oct 2025R1.9tR1.1tR68.2b10.6x28.1x1.7x
Tue, 16 Sep 2025R1.7tR1.1tR68.6b11.3x24.2x1.5x
Thu, 14 Aug 2025R1.5tR1.1t-R19,690,609,948.419.8x-76.4x1.4x
Sat, 12 Jul 2025R1.4tR1.1t-R11,990,902,480.167.6x-113.6x1.2x
Mon, 09 Jun 2025R1.3tR1.1t-R12,164,083,987.567.4x-106.7x1.2x
Wed, 07 May 2025R1.2tR1.1t-R9,491,551,304.717.2x-126.4x1.1x
Fri, 04 Apr 2025R1.2tR1.1t-R7,289,366,111.268x-162x1x
Sun, 02 Mar 2025R989.5bR1.1t-R9,004,073,628.568.3x-109.9x0.9x
Tue, 28 Jan 2025R1.0tR1.1t-R52,075,151,005.789.4x-20x0.9x
Thu, 26 Dec 2024R931.9bR1.1t-R52,128,886,783.309.6x-17.9x0.8x
Sat, 23 Nov 2024R1.0tR1.1t-R56,052,964,732.6510.3x-18.2x0.9x
Mon, 21 Oct 2024R1.1tR1.1t-R58,641,345,001.729.5x-18.8x1x
Wed, 18 Sep 2024R999.5bR1.1t-R60,173,360,447.7910.5x-16.6x0.9x
Fri, 16 Aug 2024R1.0tR1.2tR11.2b9.2x93.6x0.9x
Sun, 14 Jul 2024R1.1tR1.2tR16.6b8.9x67x0.9x
Tue, 11 Jun 2024R1.1tR1.2tR15.8b8.7x66.9x0.9x
Thu, 09 May 2024R1.1tR1.2tR16.7b8.3x67.5x1x
Sat, 06 Apr 2024R1.1tR1.2tR16.7b8.7x68.6x1x
Mon, 04 Mar 2024R1.0tR1.2tR71.6b8x14.3x0.9x
Wed, 31 Jan 2024R1.2tR1.2tR106.3b10.2x11x0.9x
Fri, 29 Dec 2023R1.3tR1.2tR106.0b9.7x12x1x
Sun, 26 Nov 2023R1.2tR1.2tR108.1b9.6x10.7x0.9x
Tue, 24 Oct 2023R1.1tR1.3tR109.2b8.4x10.2x0.9x
Thu, 21 Sep 2023R1.3tR1.3tR111.5b9x11.7x1x
Sat, 19 Aug 2023R1.2tR1.4tR182.8b5.7x6.5x0.9x
Mon, 17 Jul 2023R1.4tR1.4tR214.7b5x6.7x1x
Wed, 14 Jun 2023R1.6tR1.4tR223.3b5.1x7x1.1x
Fri, 12 May 2023R1.6tR1.4tR235.9b5.1x6.9x1.1x
Sun, 09 Apr 2023R1.5tR1.4tR221.7b5.1x6.8x1.1x
Tue, 07 Mar 2023R1.4tR1.4tR220.5b5.3x6.4x1x
Thu, 02 Feb 2023R1.6tR1.4tR248.4b6.3x6.6x1.2x
Price to Earnings Ratio

6.6x


Total Market Cap: R1.6tTotal Earnings: R248.4bTotal Revenue: R1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Materials Sector Price to Earnings3Y Average -5.7x202420252026
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 39.4x which is higher than its 3-year average PE of -5.7x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 2.2x.
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 7.5% 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 Market2.15%
Materials7.29%
Chemicals14.02%
Metals and Mining7.16%
Basic Materials5.96%
Packaging-1.35%
Paper and Forestry Products-6.15%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry which is trading above its 3-year average PE ratio of 38.1x.
    • Analysts are expecting annual earnings growth of 37.3%, 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 67% 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 8.5% 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 PlatinumR1.69k12.1%
+R48.1b		177.6%PE335.8x
IMP Impala Platinum HoldingsR349.3117.4%
+R46.4b		260.1%PE411.7x
GFI Gold FieldsR851.514.0%
+R29.5b		174.7%PE25.1x
SSW Sibanye StillwaterR77.7912.2%
+R23.9b		343.8%PS2x
NPH Northam Platinum HoldingsR413.738.9%
+R12.8b		252.9%PE103x

Latest News

SOL
R117.03
Sasol
7D
14.8%
1Y
35.1%

There's Been No Shortage Of Growth Recently For Sasol's (JSE:SOL) Returns On Capital

Jan 25
There's Been No Shortage Of Growth Recently For Sasol's (JSE:SOL) Returns On Capital
NPH
R413.73
Northam Platinum Holdings
7D
8.9%
1Y
252.9%
VAL
R1,692.18
Valterra Platinum
7D
12.1%
1Y
177.6%
SSW
R77.79
Sibanye Stillwater
7D
12.2%
1Y
343.8%
GFI
R851.51
Gold Fields
7D
4.0%
1Y
174.7%

GFI: Higher Gold Price Assumptions And Capital Returns Will Drive Re Rating

Analysts have raised their fair value estimate for Gold Fields from $640.00 to $1,100.00, citing recent price target changes that reference the company's Q3 report, updated gold price assumptions, and new five-year guidance featuring higher reinvestment and a competitive capital returns program. Analyst Commentary Bullish analysts are pointing to recent research as a sign that sentiment around Gold Fields is improving, especially after the latest Q3 report and updated guidance.
KIO
R373.01
Kumba Iron Ore
7D
5.3%
1Y
1.1%

Kumba Iron Ore's (JSE:KIO) Returns On Capital Not Reflecting Well On The Business

Jan 22
Kumba Iron Ore's (JSE:KIO) Returns On Capital Not Reflecting Well On The Business
IMP
R349.31
Impala Platinum Holdings
7D
17.4%
1Y
260.1%
HAR
R380.67
Harmony Gold Mining
7D
4.0%
1Y
91.1%

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

Analysts have lifted their fair value estimate for Harmony Gold Mining from $370.00 to $385.00, citing updated assumptions around revenue growth, profit margins and future P/E that feed into a slightly lower discount rate in their models. What's in the News Harmony approved the high margin, long life Eva Copper Project after completing a three year feasibility study update and FEED phase with Tier 1 contractors, which the company says has further reduced project risk.
SAP
R22.35
Sappi
7D
-6.2%
1Y
-52.3%

Many Still Looking Away From Sappi Limited (JSE:SAP)

Jan 17
Many Still Looking Away From Sappi Limited (JSE:SAP)
ACL
R1.39
ArcelorMittal South Africa
7D
-1.4%
1Y
10.3%
SEP
R2.25
Sephaku Holdings
7D
-2.2%
1Y
36.4%
HLM
R2.31
Hulamin
7D
-1.7%
1Y
-26.7%
NPK
R522.00
Nampak
7D
-2.4%
1Y
21.9%
GML
R1.29
Gemfields Group
7D
-4.4%
1Y
4.0%

Investors Aren't Entirely Convinced By Gemfields Group Limited's (JSE:GML) Revenues

Dec 13
Investors Aren't Entirely Convinced By Gemfields Group Limited's (JSE:GML) Revenues
TPC
R38.30
Transpaco
7D
-4.3%
1Y
3.5%

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

Nov 05
Here's Why Transpaco (JSE:TPC) Can Manage Its Debt Responsibly
MPT
R22.00
Mpact
7D
-1.9%
1Y
-26.7%