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South African (JSE) Market Analysis & Valuation

UpdatedJun 13, 2026
DataAggregated Company Financials
Companies203
  • 7D1.4%
  • 3M-1.6%
  • 1Y16.3%
  • YTD-3.8%

The market has climbed 1.4% in the last 7 days, lead by the Financials sector with a gain of 3.7%. The market is up 16% over the last 12 months. 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
Sun, 14 Jun 2026R7.8tR5.5tR621.3b8.6x12.6x1.4x
Tue, 12 May 2026R8.1tR5.5tR612.7b8.9x13.3x1.5x
Thu, 09 Apr 2026R8.3tR5.5tR614.1b9.4x13.5x1.5x
Sat, 07 Mar 2026R8.1tR5.4tR604.0b9.4x13.5x1.5x
Mon, 02 Feb 2026R8.5tR5.3tR555.4b9.5x15.2x1.6x
Wed, 31 Dec 2025R8.2tR5.4tR560.3b9.5x14.7x1.5x
Fri, 28 Nov 2025R7.8tR5.4tR572.3b9.4x13.6x1.4x
Sun, 26 Oct 2025R7.8tR5.5tR573.4b9.2x13.6x1.4x
Tue, 23 Sep 2025R7.5tR5.5tR572.4b8.8x13.1x1.4x
Thu, 21 Aug 2025R7.2tR5.5tR481.7b9.2x15x1.3x
Sat, 19 Jul 2025R7.1tR5.5tR473.1b8.2x15.1x1.3x
Mon, 16 Jun 2025R6.8tR5.5tR436.4b8.6x15.6x1.2x
Wed, 14 May 2025R6.6tR5.3tR422.5b8.8x15.7x1.2x
Fri, 11 Apr 2025R6.2tR5.4tR430.1b8.3x14.4x1.2x
Sun, 09 Mar 2025R6.4tR5.3tR419.4b9x15.3x1.2x
Tue, 04 Feb 2025R6.3tR5.3tR369.7b9.6x17x1.2x
Thu, 02 Jan 2025R6.2tR5.3tR370.0b10.2x16.8x1.2x
Sat, 30 Nov 2024R6.2tR5.3tR350.3b10.1x17.8x1.2x
Mon, 28 Oct 2024R6.4tR5.1tR339.6b10.5x18.8x1.2x
Wed, 25 Sep 2024R6.3tR5.2tR334.4b10.1x18.8x1.2x
Fri, 23 Aug 2024R6.1tR5.2tR352.1b9.6x17.4x1.2x
Sun, 21 Jul 2024R5.8tR5.2tR421.7b9.4x13.8x1.1x
Tue, 18 Jun 2024R5.6tR5.2tR433.4b8.6x12.8x1.1x
Thu, 16 May 2024R5.7tR5.3tR432.2b8.7x13.3x1.1x
Sat, 13 Apr 2024R5.5tR5.3tR433.1b8.6x12.7x1x
Mon, 11 Mar 2024R5.5tR5.3tR448.7b8.6x12.2x1x
Wed, 07 Feb 2024R5.6tR5.3tR534.9b9x10.5x1.1x
Fri, 05 Jan 2024R5.7tR5.4tR541.3b9.4x10.5x1x
Sun, 03 Dec 2023R5.6tR5.4tR545.2b9.1x10.3x1x
Tue, 31 Oct 2023R5.3tR5.5tR545.5b8.7x9.7x1x
Thu, 28 Sep 2023R5.5tR5.5tR552.2b9x9.9x1x
Sat, 26 Aug 2023R5.8tR5.4tR596.0b8.5x9.7x1.1x
Mon, 24 Jul 2023R6.0tR5.4tR654.4b8.5x9.1x1.1x
Wed, 21 Jun 2023R6.0tR5.4tR636.1b8.4x9.4x1.1x
Price to Earnings Ratio

9.4x


Total Market Cap: R6.0tTotal Earnings: R636.1bTotal 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 relatively neutral on the South African market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio 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 Market1.40%
Financials3.70%
Tech3.62%
Telecom3.46%
Consumer Staples3.16%
Real Estate2.25%
Industrials1.43%
Healthcare0.83%
Utilities0%0
Consumer Discretionary-1.05%
Materials-2.14%
Energy-5.79%
Sector PE
  • Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 13.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.4% 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 10.7x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 42% 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 3.8% 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
MTN MTN GroupR225.056.3%
+R24.4b		69.8%PE20.4xTelecom
SBK Standard Bank GroupR320.614.4%
+R22.1b		41.0%PB1.8xFinancials
FSR FirstRandR94.453.8%
+R19.3b		30.7%PE12xFinancials
CPI Capitec Bank HoldingsR4.49k3.1%
+R15.7b		30.0%PB8.7xFinancials
DSY DiscoveryR283.016.3%
+R11.3b		31.0%PE18xFinancials
See more

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