Improved Earnings Required Before Kumba Iron Ore Limited (JSE:KIO) Shares Find Their Feet
Oct 25
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South African (JSE) Steel Industry Analysis
UpdatedOct 29, 2025
DataAggregated Company Financials
Companies3
- 7D3.7%
- 3M6.0%
- 1Y-7.6%
- YTDn/a
Over the last 7 days, the Steel industry has remained flat, although notably ArcelorMittal South Africa gained 21%. As for the longer term, the industry has declined 6.7% in the last year. As for the next few years, earnings are forecast to decline by 10% per annum.
Industry Valuation and Performance
Has the South African Steel Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 29 Oct 2025 | R110.7b | R108.7b | R9.3b | 11.4x | 11.9x | 1x |
| Fri, 26 Sep 2025 | R108.2b | R108.7b | R9.3b | 11.1x | 11.6x | 1x |
| Sun, 24 Aug 2025 | R96.4b | R108.7b | R9.3b | 10.4x | 10.4x | 0.9x |
| Tue, 22 Jul 2025 | R99.5b | R115.6b | R9.5b | 5.9x | 10.4x | 0.9x |
| Thu, 19 Jun 2025 | R93.0b | R115.6b | R9.5b | 5.3x | 9.8x | 0.8x |
| Sat, 17 May 2025 | R104.7b | R115.6b | R9.5b | 5.5x | 11x | 0.9x |
| Mon, 14 Apr 2025 | R100.4b | R115.6b | R9.5b | 5.4x | 10.5x | 0.9x |
| Wed, 12 Mar 2025 | R118.7b | R115.6b | R9.5b | 6.1x | 12.5x | 1x |
| Fri, 07 Feb 2025 | R117.8b | R134.1b | R16.9b | 3.9x | 7x | 0.9x |
| Sun, 05 Jan 2025 | R110.6b | R134.1b | R16.9b | 3.9x | 6.6x | 0.8x |
| Tue, 03 Dec 2024 | R116.1b | R134.1b | R16.9b | 4x | 6.9x | 0.9x |
| Thu, 31 Oct 2024 | R116.5b | R134.1b | R16.9b | 4x | 6.9x | 0.9x |
| Sat, 28 Sep 2024 | R130.4b | R134.1b | R16.9b | 4.4x | 7.7x | 1x |
| Mon, 26 Aug 2024 | R121.0b | R134.1b | R16.9b | 4.2x | 7.2x | 0.9x |
| Wed, 24 Jul 2024 | R134.8b | R137.1b | R20.6b | 3.9x | 6.6x | 1x |
| Fri, 21 Jun 2024 | R158.2b | R137.1b | R20.6b | 4.4x | 7.7x | 1.2x |
| Sun, 19 May 2024 | R173.9b | R137.1b | R20.6b | 4.6x | 8.5x | 1.3x |
| Tue, 16 Apr 2024 | R160.5b | R137.1b | R20.6b | 4.4x | 7.8x | 1.2x |
| Thu, 14 Mar 2024 | R150.9b | R136.3b | R20.3b | 4.4x | 7.4x | 1.1x |
| Sat, 10 Feb 2024 | R179.0b | R119.4b | R10.7b | 7.7x | 16.8x | 1.5x |
| Mon, 08 Jan 2024 | R193.8b | R117.4b | R13.8b | 8.3x | 14.1x | 1.7x |
| Wed, 06 Dec 2023 | R195.0b | R117.4b | R13.8b | 8.3x | 14.1x | 1.7x |
| Fri, 03 Nov 2023 | R169.4b | R117.4b | R13.8b | 7.3x | 12.3x | 1.4x |
| Sun, 01 Oct 2023 | R150.8b | R117.4b | R13.8b | 6.6x | 10.9x | 1.3x |
| Tue, 29 Aug 2023 | R140.8b | R117.4b | R13.8b | 6.3x | 10.2x | 1.2x |
| Thu, 27 Jul 2023 | R160.4b | R118.0b | R17.1b | 2.2x | 9.4x | 1.4x |
| Sat, 24 Jun 2023 | R155.9b | R122.7b | R19.0b | 1.9x | 8.2x | 1.3x |
| Mon, 22 May 2023 | R157.1b | R130.2b | R25.5b | 2.1x | 6.2x | 1.2x |
| Wed, 19 Apr 2023 | R165.9b | R122.7b | R19.0b | 2.2x | 8.7x | 1.4x |
| Fri, 17 Mar 2023 | R144.0b | R123.4b | R19.6b | 1.7x | 7.3x | 1.2x |
| Sun, 12 Feb 2023 | R176.1b | R130.8b | R26.1b | 1.7x | 6.7x | 1.3x |
| Tue, 10 Jan 2023 | R181.7b | R133.3b | R30.9b | 1.7x | 5.9x | 1.4x |
| Thu, 08 Dec 2022 | R166.1b | R132.8b | R30.6b | 2x | 5.4x | 1.3x |
| Sat, 05 Nov 2022 | R140.3b | R132.8b | R30.6b | 1.8x | 4.6x | 1.1x |
Price to Earnings Ratio
4.6x
Current Industry PE
- There are only 3 companies in the South African Steel industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
Past Earnings Growth
- The earnings for companies in the Steel industry have declined 33% per year over the last three years,
- Revenues have also declined 6.5% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Comparison
How does South African Steel compare with similar industries?
| ZA Market | 1.17% | |
| Materials | -2.30% | |
| Metals and Mining | -3.31% | |
| Steel | 3.72% | |
| Aluminum | 5.22% | |
| Copper | 1.47% | |
| Precious Metals and Minerals | -0.56% | |
| Diversified Metals and Mining | -1.44% | |
| Gold | -6.66% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| KIO Kumba Iron Ore | R329.40 | 3.9% +R4.0b | -7.2% | PE7.2x | |
| MRF Merafe Resources | R1.12 | 0.9% +R25.0m | -23.3% | PE15.5x |