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South African (JSE) Market Analysis & Valuation

UpdatedApr 04, 2025
DataAggregated Company Financials
Companies212
  • 7D-5.4%
  • 3M-1.3%
  • 1Y12.0%
  • YTD-0.9%

Over the last 7 days, the market has dropped 5.4%, driven by a decline of 11% in the Financials sector. In contrast to the last week, the market is actually up 12% over the past year. As for the next few years, earnings are expected to grow by 19% per annum.

Market Valuation and Performance

Has the South African Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 04 Apr 2025R6.2tR5.4tR425.7b8.3x14.5x1.2x
Sun, 02 Mar 2025R6.3tR5.3tR413.6b9.3x15.1x1.2x
Tue, 28 Jan 2025R6.2tR5.3tR369.8b9.6x16.7x1.2x
Thu, 26 Dec 2024R6.3tR5.3tR366.4b10x17.2x1.2x
Sat, 23 Nov 2024R6.3tR5.3tR344.5b10.1x18.4x1.2x
Mon, 21 Oct 2024R6.4tR5.1tR338.5b10.4x19x1.3x
Wed, 18 Sep 2024R6.1tR5.2tR330.0b9.8x18.6x1.2x
Fri, 16 Aug 2024R6.0tR5.2tR414.7b9.5x14.5x1.2x
Sun, 14 Jul 2024R5.9tR5.2tR420.0b9.1x14.1x1.1x
Tue, 11 Jun 2024R5.5tR5.3tR436.6b8.6x12.5x1x
Thu, 09 May 2024R5.6tR5.3tR433.3b8.5x12.9x1x
Sat, 06 Apr 2024R5.5tR5.3tR432.2b8.7x12.7x1x
Mon, 04 Mar 2024R5.4tR5.3tR503.1b8.9x10.8x1x
Wed, 31 Jan 2024R5.7tR5.4tR541.7b9.3x10.4x1x
Fri, 29 Dec 2023R5.8tR5.4tR540.1b9.4x10.8x1.1x
Sun, 26 Nov 2023R5.7tR5.4tR540.6b9.2x10.5x1x
Tue, 24 Oct 2023R5.3tR5.5tR547.4b9.1x9.7x1x
Thu, 21 Sep 2023R5.7tR5.5tR555.7b9.2x10.2x1x
Sat, 19 Aug 2023R5.7tR5.4tR633.7b8.3x9x1.1x
Mon, 17 Jul 2023R6.0tR5.4tR656.0b8.5x9.1x1.1x
Wed, 14 Jun 2023R6.0tR5.4tR654.4b8.3x9.2x1.1x
Fri, 12 May 2023R5.8tR5.4tR671.4b7.9x8.7x1.1x
Sun, 09 Apr 2023R6.1tR5.3tR650.2b8.6x9.4x1.1x
Tue, 07 Mar 2023R6.2tR5.3tR638.6b8.6x9.7x1.2x
Thu, 02 Feb 2023R6.4tR5.2tR658.4b8.6x9.7x1.2x
Sat, 31 Dec 2022R6.0tR5.2tR656.0b8.4x9.1x1.1x
Mon, 28 Nov 2022R6.2tR5.2tR662.2b8.6x9.3x1.2x
Wed, 26 Oct 2022R5.7tR5.2tR838.9b8.5x6.7x1.1x
Fri, 23 Sep 2022R5.6tR5.1tR824.5b8.5x6.8x1.1x
Sun, 21 Aug 2022R6.0tR5.3tR778.6b8.9x7.7x1.1x
Tue, 19 Jul 2022R5.7tR5.3tR791.3b8.4x7.2x1.1x
Thu, 16 Jun 2022R6.3tR5.2tR805.8b8.7x7.8x1.2x
Sat, 14 May 2022R6.4tR5.2tR793.8b9.2x8.1x1.2x
Mon, 11 Apr 2022R7.1tR5.2tR762.7b9.7x9.3x1.4x
Price to Earnings Ratio

9.3x


Total Market Cap: R7.1tTotal Earnings: R762.7bTotal Revenue: R5.2tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 11.4x202320242025
Current Market PE
  • Investors are optimistic on the South African market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 14.5x which is higher than its 3-year average PE of 11.4x.
Past Earnings Growth
  • The earnings for South African listed companies have declined 18% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the South African Market?

ZA Market-5.39%
Materials0.98%
Utilities0%0
Tech-1.29%
Real Estate-2.34%
Telecom-3.54%
Energy-3.80%
Healthcare-3.86%
Consumer Discretionary-3.92%
Consumer Staples-4.17%
Industrials-6.48%
Financials-10.58%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 21.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 41.0% which is higher than its past year's earnings decline of 3.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 41% over the next 5 years.
  • This is better than its past earnings decline of 3.1% per year.
  • In contrast, the Energy sector is expected to see its earnings decline 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 Price7D1YValuationSector
GFI Gold FieldsR425.4311.6%
+R39.5b		32.4%PE16.3xMaterials
HAR Harmony Gold MiningR276.8217.8%
+R26.1b		66.5%PE16.4xMaterials
VOD Vodacom GroupR122.500.5%
+R1.3b		23.0%PE16.1xTelecom
BID BidR438.000.5%
+R770.9m		-4.5%PE18.5xConsumer Staples
SSW Sibanye StillwaterR19.590.6%
+R311.4m		-19.2%PS0.5xMaterials
See more
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R113.09

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1Y

15.4%

BID

R438.00

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7D

0.5%

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17.7%

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7D

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1Y

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ZED

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7D

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1Y

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DTC

R54.70

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7D

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1Y

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