Caxton and CTP Publishers and Printers Limited's (JSE:CAT) 26% Share Price Surge Not Quite Adding Up
Sep 24
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South African (JSE) Media Industry Analysis
UpdatedOct 12, 2025
DataAggregated Company Financials
Companies4
- 7D-3.3%
- 3M3.2%
- 1Y8.7%
- YTD10.5%
Over the last 7 days, the Media industry has dropped 3.3%, driven by a pullback from MultiChoice Group of 3.5%. Over the past 12 months, the industry was up 8.7%. As for the next few years, earnings are expected to grow by 38% per annum.
Industry Valuation and Performance
Has the South African Media Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 12 Oct 2025 | R57.5b | R61.0b | R2.1b | 6.6x | 28x | 0.9x |
| Tue, 09 Sep 2025 | R58.1b | R60.8b | R2.2b | 5.4x | 26.6x | 1x |
| Thu, 07 Aug 2025 | R57.4b | R60.8b | R2.2b | 5.9x | 26.3x | 0.9x |
| Sat, 05 Jul 2025 | R56.0b | R60.8b | R2.2b | 6.1x | 25.6x | 0.9x |
| Mon, 02 Jun 2025 | R5.9b | R10.1b | R992.8m | 5.8x | 6x | 0.6x |
| Wed, 30 Apr 2025 | R5.9b | R10.0b | R1.0b | 5.7x | 5.7x | 0.6x |
| Fri, 28 Mar 2025 | R6.0b | R10.0b | R1.0b | 5.9x | 5.8x | 0.6x |
| Sun, 23 Feb 2025 | R6.1b | R10.1b | R952.0m | 6x | 6.4x | 0.6x |
| Tue, 21 Jan 2025 | R6.0b | R10.1b | R952.0m | 6.2x | 6.3x | 0.6x |
| Thu, 19 Dec 2024 | R6.4b | R10.1b | R952.0m | 6.6x | 6.8x | 0.6x |
| Sat, 16 Nov 2024 | R6.3b | R10.0b | R935.9m | 6.7x | 6.7x | 0.6x |
| Mon, 14 Oct 2024 | R6.1b | R10.0b | R935.9m | 6.5x | 6.6x | 0.6x |
| Wed, 11 Sep 2024 | R6.1b | R10.3b | R935.9m | 6.7x | 6.5x | 0.6x |
| Fri, 09 Aug 2024 | R5.4b | R10.2b | R900.7m | 6x | 6x | 0.5x |
| Sun, 07 Jul 2024 | R5.5b | R10.2b | R900.7m | 5.9x | 6.1x | 0.5x |
| Tue, 04 Jun 2024 | R5.3b | R10.2b | R884.9m | 6.4x | 6x | 0.5x |
| Thu, 02 May 2024 | R5.3b | R10.3b | R905.8m | 6x | 5.8x | 0.5x |
| Sat, 30 Mar 2024 | R5.2b | R10.3b | R905.8m | 5.9x | 5.8x | 0.5x |
| Mon, 26 Feb 2024 | R5.2b | R10.4b | R1.0b | 5.7x | 5.1x | 0.5x |
| Wed, 24 Jan 2024 | R5.4b | R10.4b | R1.0b | 5.2x | 5.3x | 0.5x |
| Fri, 22 Dec 2023 | R5.5b | R10.4b | R1.0b | 5.7x | 5.4x | 0.5x |
| Sun, 19 Nov 2023 | R5.7b | R10.4b | R1.0b | 6x | 5.6x | 0.6x |
| Tue, 17 Oct 2023 | R37.0b | R69.5b | -R2,450,875,000.00 | 5.6x | -15.1x | 0.5x |
| Thu, 14 Sep 2023 | R37.5b | R69.5b | -R2,450,875,000.00 | 5.7x | -15.3x | 0.5x |
| Sat, 12 Aug 2023 | R41.6b | R69.3b | -R2,485,521,000.00 | 5.6x | -16.8x | 0.6x |
| Mon, 10 Jul 2023 | R43.0b | R69.3b | -R2,484,349,000.00 | 6.1x | -17.3x | 0.6x |
| Wed, 07 Jun 2023 | R48.6b | R67.2b | R735.7m | 6.2x | 66.1x | 0.7x |
| Fri, 05 May 2023 | R52.3b | R67.3b | R740.1m | 6.3x | 70.7x | 0.8x |
| Sun, 02 Apr 2023 | R58.0b | R67.3b | R740.1m | 6x | 78.3x | 0.9x |
| Tue, 28 Feb 2023 | R62.5b | R66.5b | R592.6m | 6x | 105.5x | 0.9x |
| Thu, 26 Jan 2023 | R56.1b | R66.5b | R592.6m | 7.1x | 94.7x | 0.8x |
| Sat, 24 Dec 2022 | R56.0b | R66.5b | R588.8m | 5.8x | 95.2x | 0.8x |
| Mon, 21 Nov 2022 | R55.6b | R64.7b | R2.2b | 8x | 25x | 0.9x |
| Wed, 19 Oct 2022 | R55.6b | R64.3b | R2.1b | 9.1x | 27.1x | 0.9x |
Price to Earnings Ratio
27.1x
Current Industry PE
- Investors are optimistic on the South African Media industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 28.0x which is higher than its 3-year average PE of 20.6x.
- The industry is trading close to its 3-year average PS ratio of 0.67x.
Past Earnings Growth
- Both revenue and earnings for companies in the Media industry have remained mostly flat over the last three years.
- This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.
Industry Trends
Which industries have driven the changes within the South African Telecom industry?
| ZA Market | 0.83% | |
| Telecom | 2.78% | |
| Media | -3.27% | |
| Broadcasting | 1.23% | |
| Publishing | -1.82% | |
| Cable and Satellite | -3.50% | |
Industry PE
- Investors are most optimistic about the Cable and Satellite industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 37.5% and investors are willing to pay a premium for that growth.
- Investors are most pessimistic about the Broadcasting industry, which is trading below its 3-year average of 5.9x.
Forecasted Growth
- Analysts are most optimistic on the Cable and Satellite industry, expecting annual earnings growth of 38% over the next 5 years.
- In contrast, the Cable and Satellite industry is expected to see its earnings grow by 38% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| EMH eMedia Holdings | R2.38 | 4.4% +R44.3m | -27.7% | PE5.1x |