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South African (JSE) Market Analysis & Valuation

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies203
  • 7D-3.8%
  • 3M-1.4%
  • 1Y13.0%
  • YTD-5.6%

Over the last 7 days, the market has dropped 3.8%, driven by a decline of 13% in the Materials sector. As for the longer term, the market has actually risen by 13% in the last year. As for the next few years, earnings are expected to grow by 15% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026R7.7tR5.5tR626.3b8.6x12.3x1.4x
Sat, 23 May 2026R7.8tR5.5tR617.1b8.5x12.7x1.4x
Mon, 20 Apr 2026R8.4tR5.5tR613.6b9.2x13.7x1.5x
Wed, 18 Mar 2026R8.2tR5.5tR624.7b9.2x13.1x1.5x
Fri, 13 Feb 2026R8.5tR5.3tR557.0b9.7x15.3x1.6x
Sun, 11 Jan 2026R8.3tR5.4tR559.5b9.6x14.9x1.6x
Tue, 09 Dec 2025R7.8tR5.4tR567.0b9.4x13.8x1.4x
Thu, 06 Nov 2025R7.7tR5.5tR577.0b9.1x13.4x1.4x
Sat, 04 Oct 2025R7.7tR5.5tR572.1b8.9x13.5x1.4x
Mon, 01 Sep 2025R7.3tR5.5tR574.7b9.1x12.6x1.3x
Wed, 30 Jul 2025R7.1tR5.5tR468.7b8.2x15.2x1.3x
Fri, 27 Jun 2025R6.9tR5.5tR473.8b8.5x14.6x1.3x
Sun, 25 May 2025R6.7tR5.3tR418.2b8.7x16.1x1.3x
Tue, 22 Apr 2025R6.5tR5.4tR426.1b8.4x15.2x1.2x
Thu, 20 Mar 2025R6.5tR5.3tR413.1b9x15.8x1.2x
Sat, 15 Feb 2025R6.4tR5.3tR370.2b9.5x17.4x1.2x
Mon, 13 Jan 2025R6.2tR5.3tR371.3b10x16.6x1.2x
Wed, 11 Dec 2024R6.5tR5.3tR361.5b10.1x17.9x1.2x
Fri, 08 Nov 2024R6.4tR5.3tR336.2b10.3x18.9x1.2x
Sun, 06 Oct 2024R6.3tR5.3tR338.8b10.3x18.7x1.2x
Tue, 03 Sep 2024R6.1tR5.2tR345.4b9.8x17.7x1.2x
Thu, 01 Aug 2024R6.1tR5.2tR417.5b9.7x14.5x1.2x
Sat, 29 Jun 2024R5.8tR5.2tR421.3b8.9x13.8x1.1x
Mon, 27 May 2024R5.7tR5.3tR429.4b8.7x13.3x1.1x
Wed, 24 Apr 2024R5.3tR5.3tR436.5b8.5x12.2x1x
Fri, 22 Mar 2024R5.3tR5.4tR449.1b8.5x11.9x1x
Sun, 18 Feb 2024R5.5tR5.3tR526.0b9x10.4x1x
Tue, 16 Jan 2024R5.7tR5.4tR541.1b9.4x10.4x1x
Thu, 14 Dec 2023R5.5tR5.5tR544.6b9.1x10.2x1x
Sat, 11 Nov 2023R5.5tR5.5tR537.7b9x10.1x1x
Mon, 09 Oct 2023R5.3tR5.5tR549.9b9.1x9.6x1x
Wed, 06 Sep 2023R5.8tR5.4tR560.8b8.9x10.3x1.1x
Fri, 04 Aug 2023R5.9tR5.4tR635.0b8.4x9.4x1.1x
Sun, 02 Jul 2023R5.8tR5.4tR660.6b8.6x8.9x1.1x
Price to Earnings Ratio

8.9x


Total Market Cap: R5.8tTotal Earnings: R660.6bTotal Revenue: R5.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 13.7x202420252026
Current Market PE
  • Investors are pessimistic on the South African market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 12.3x which is lower than its 3-year average PE of 13.7x.
Past Earnings Growth
  • Both revenue and earnings for South African listed companies have remained mostly flat over the last three years.
  • This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Sector Trends

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

ZA Market-3.82%
Tech6.66%
Healthcare1.88%
Consumer Staples0.69%
Real Estate0.34%
Utilities0%0
Industrials-0.38%
Telecom-0.49%
Financials-1.58%
Consumer Discretionary-2.55%
Energy-7.20%
Materials-12.94%
Sector PE
  • Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 15.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 14.1% which is higher than its past year's earnings decline of 2.1% per year.
  • The Consumer Discretionary sector is the least preferred by investors for future growth, which is trading below its 3-year average of 10.6x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 43% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Consumer Discretionary sector is expected to see its earnings grow by 2.0% 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
VOD Vodacom GroupR151.683.0%
+R8.7b		12.2%PE14.2xTelecom
BID BidR443.253.2%
+R4.6b		-3.6%PE16.9xConsumer Staples
APN Aspen Pharmacare HoldingsR153.833.9%
+R2.6b		31.2%PS1.6xHealthcare
DTC DatatecR95.5012.4%
+R2.5b		48.5%PE14.8xTech
NRP NEPI RockcastleR146.641.8%
+R1.9b		9.6%PE11.1xReal Estate
See more

Market Insights

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