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South African (JSE) Market Analysis & Valuation

UpdatedNov 26, 2024
DataAggregated Company Financials
Companies214
  • 7D0.1%
  • 3M1.1%
  • 1Y12.8%
  • YTD9.9%

The market has climbed 1.5% in the last 7 days, lead by the Financials sector with a gain of 2.1%. As for the past 12 months, the market is up 14%. As for the next few years, earnings are expected to grow by 20% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 Nov 2024R6.2tR5.3tR344.7b9.8x18.1x1.2x
Thu, 24 Oct 2024R6.3tR5.1tR339.0b10.3x18.6x1.2x
Sat, 21 Sep 2024R6.2tR5.2tR335.9b9.9x18.5x1.2x
Mon, 19 Aug 2024R6.1tR5.2tR411.2b9.6x14.8x1.2x
Wed, 17 Jul 2024R5.9tR5.2tR420.5b9.3x14.1x1.1x
Fri, 14 Jun 2024R5.5tR5.2tR434.5b8.6x12.7x1x
Sun, 12 May 2024R5.7tR5.3tR431.5b8.6x13.2x1.1x
Tue, 09 Apr 2024R5.5tR5.3tR431.9b8.7x12.8x1x
Thu, 07 Mar 2024R5.5tR5.3tR450.3b8.9x12.2x1x
Sat, 03 Feb 2024R5.7tR5.5tR542.4b9.4x10.4x1x
Mon, 01 Jan 2024R5.9tR5.4tR538.5b9.4x10.9x1.1x
Wed, 29 Nov 2023R5.7tR5.4tR539.7b9x10.5x1x
Fri, 27 Oct 2023R5.3tR5.5tR546.2b8.8x9.7x1x
Sun, 24 Sep 2023R5.6tR5.5tR549.5b9.2x10.1x1x
Tue, 22 Aug 2023R5.7tR5.4tR633.6b8.2x9x1.1x
Thu, 20 Jul 2023R6.0tR5.4tR655.0b8.5x9.1x1.1x
Sat, 17 Jun 2023R6.1tR5.4tR637.4b8.4x9.6x1.1x
Mon, 15 May 2023R5.9tR5.4tR669.8b8x8.8x1.1x
Wed, 12 Apr 2023R6.1tR5.3tR658.2b8.5x9.3x1.1x
Fri, 10 Mar 2023R6.1tR5.3tR643.1b8.7x9.5x1.1x
Sun, 05 Feb 2023R6.5tR5.2tR659.7b8.5x9.8x1.2x
Tue, 03 Jan 2023R6.0tR5.2tR656.5b8.3x9.1x1.1x
Thu, 01 Dec 2022R6.2tR5.2tR654.1b8.6x9.5x1.2x
Sat, 29 Oct 2022R5.8tR5.2tR841.5b8.6x6.9x1.1x
Mon, 26 Sep 2022R5.5tR5.1tR828.7b8.6x6.6x1.1x
Wed, 24 Aug 2022R6.0tR5.3tR810.7b8.6x7.4x1.1x
Fri, 22 Jul 2022R5.9tR5.3tR792.0b8.6x7.4x1.1x
Sun, 19 Jun 2022R6.1tR5.2tR805.8b8.6x7.6x1.2x
Tue, 17 May 2022R6.4tR5.2tR795.1b9.2x8.1x1.2x
Thu, 14 Apr 2022R6.9tR5.2tR761.6b9.7x9.1x1.3x
Sat, 12 Mar 2022R7.2tR5.2tR745.6b10.2x9.6x1.4x
Mon, 07 Feb 2022R7.1tR5.1tR766.9b10.7x9.3x1.4x
Wed, 05 Jan 2022R7.0tR5.1tR774.4b10.8x9.1x1.4x
Fri, 03 Dec 2021R6.7tR5.1tR768.7b10.3x8.7x1.3x
Price to Earnings Ratio

8.7x


Total Market Cap: R6.7tTotal Earnings: R768.7bTotal Revenue: R5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 10.5x202220232024
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 18.3x which is higher than its 3-year average PE of 10.5x.
Past Earnings Growth
  • The earnings for South African listed companies have declined 23% 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 Market0.11%
Financials1.18%
Energy1.09%
Consumer Discretionary0.96%
Consumer Staples0.28%
Utilities0%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Real Estate-0.39%
Tech-0.40%
Industrials-1.13%
Telecom-1.21%
Healthcare-1.26%
Materials-2.33%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 18.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 38.2% which is higher than its past year's earnings decline of 10.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 39% over the next 5 years.
  • This is better than its past earnings decline of 16% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 7.1% 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
CPI Capitec Bank HoldingsR3.33k2.4%
+R9.1b		68.6%PB8.4xFinancials
FSR FirstRandR77.651.8%
+R7.6b		15.5%PE11.4xFinancials
MRP Mr Price GroupR288.5910.6%
+R7.4b		86.6%PE22.1xConsumer Discretionary
GFI Gold FieldsR268.042.9%
+R6.8b		4.2%PE19.8xMaterials
PPH Pepkor HoldingsR24.096.6%
+R5.5b		30.9%PS1xConsumer Discretionary
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