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South African (JSE) Market Analysis & Valuation

UpdatedMay 13, 2025
DataAggregated Company Financials
Companies212
  • 7D-0.1%
  • 3M4.2%
  • 1Y16.8%
  • YTD6.4%

In the last week, the market has stayed flat, however the Consumer Discretionary sector stood out, gaining 4.6%. As for the longer term, the market has risen 17% in the past 12 months. As for the next few years, earnings are expected to grow by 18% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 May 2025R6.6tR5.3tR421.8b8.8x15.7x1.2x
Thu, 10 Apr 2025R5.9tR5.4tR428.9b8x13.9x1.1x
Sat, 08 Mar 2025R6.4tR5.3tR417.3b9.2x15.4x1.2x
Mon, 03 Feb 2025R6.3tR5.3tR368.9b10x17x1.2x
Wed, 01 Jan 2025R6.2tR5.3tR369.9b10.2x16.8x1.2x
Fri, 29 Nov 2024R6.3tR5.3tR349.0b9.9x18x1.2x
Sun, 27 Oct 2024R6.4tR5.1tR339.6b10.5x18.8x1.2x
Tue, 24 Sep 2024R6.2tR5.2tR335.1b10x18.5x1.2x
Thu, 22 Aug 2024R6.2tR5.2tR351.1b9.5x17.6x1.2x
Sat, 20 Jul 2024R5.8tR5.2tR421.7b9.4x13.8x1.1x
Mon, 17 Jun 2024R5.6tR5.2tR434.7b8.6x12.8x1.1x
Wed, 15 May 2024R5.7tR5.3tR430.4b8.7x13.2x1.1x
Fri, 12 Apr 2024R5.5tR5.3tR432.2b8.7x12.8x1x
Sun, 10 Mar 2024R5.5tR5.3tR448.7b8.6x12.2x1x
Tue, 06 Feb 2024R5.6tR5.3tR536.3b9.1x10.4x1x
Thu, 04 Jan 2024R5.7tR5.4tR541.3b9.5x10.6x1x
Sat, 02 Dec 2023R5.6tR5.4tR545.3b9.1x10.3x1x
Mon, 30 Oct 2023R5.3tR5.5tR545.2b8.9x9.6x1x
Wed, 27 Sep 2023R5.5tR5.5tR551.2b9x10x1x
Fri, 25 Aug 2023R5.8tR5.4tR596.8b8.5x9.7x1.1x
Sun, 23 Jul 2023R6.0tR5.4tR654.4b8.5x9.1x1.1x
Tue, 20 Jun 2023R6.1tR5.4tR637.2b8.5x9.5x1.1x
Thu, 18 May 2023R5.9tR5.4tR668.3b8x8.8x1.1x
Sat, 15 Apr 2023R6.2tR5.3tR656.6b8.4x9.4x1.2x
Mon, 13 Mar 2023R6.1tR5.3tR647.5b8.5x9.3x1.1x
Wed, 08 Feb 2023R6.4tR5.2tR660.4b8.6x9.7x1.2x
Fri, 06 Jan 2023R6.1tR5.2tR657.5b8.2x9.3x1.2x
Sun, 04 Dec 2022R6.0tR5.2tR658.8b8.3x9.2x1.2x
Tue, 01 Nov 2022R5.8tR5.2tR844.3b8.6x6.8x1.1x
Thu, 29 Sep 2022R5.5tR5.1tR833.6b8.4x6.6x1.1x
Sat, 27 Aug 2022R6.0tR5.3tR801.0b8.5x7.5x1.1x
Mon, 25 Jul 2022R5.9tR5.3tR788.2b8.5x7.5x1.1x
Wed, 22 Jun 2022R6.2tR5.2tR803.9b8.8x7.8x1.2x
Fri, 20 May 2022R6.3tR5.2tR790.4b9.2x8x1.2x
Price to Earnings Ratio

8x


Total Market Cap: R6.3tTotal Earnings: R790.4bTotal Revenue: R5.2tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 11.6x202320242025
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 15.7x which is higher than its 3-year average PE of 11.6x.
Past Earnings Growth
  • The earnings for South African listed companies have declined 19% 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-0.097%
Consumer Discretionary4.57%
Healthcare1.89%
Tech1.37%
Financials1.10%
Utilities0%0
Real Estate-0.65%
Consumer Staples-0.74%
Industrials-1.51%
Telecom-1.73%
Energy-3.18%
Materials-5.85%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 22.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 41.6% 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 42% over the next 5 years.
  • This is better than its past earnings decline of 3.1% per year.
  • In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
NPN NaspersR5.29k5.7%
+R44.6b		37.4%PE13.4xConsumer Discretionary
CPI Capitec Bank HoldingsR3.48k3.1%
+R12.2b		51.8%PB7.9xFinancials
FSR FirstRandR74.511.5%
+R6.3b		10.4%PE10.5xFinancials
PPH Pepkor HoldingsR27.543.3%
+R3.3b		46.6%PE43.5xConsumer Discretionary
SBK Standard Bank GroupR232.330.7%
+R2.8b		23.4%PB1.4xFinancials
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