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South African (JSE) Market Analysis & Valuation

UpdatedOct 04, 2024
DataAggregated Company Financials
Companies212
  • 7D-1.5%
  • 3M7.7%
  • 1Y22.5%
  • YTD11.2%

Over the last 7 days, the market has dropped 1.5%, driven by a pullback of 3.0% in the Financials sector. As for the longer term, the market has actually risen by 23% in the last 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
Sat, 05 Oct 2024R6.3tR5.3tR338.8b10.3x18.7x1.2x
Mon, 02 Sep 2024R6.2tR5.2tR344.6b9.9x17.9x1.2x
Wed, 31 Jul 2024R5.9tR5.2tR418.0b9.6x14.2x1.1x
Fri, 28 Jun 2024R5.7tR5.2tR423.0b8.9x13.5x1.1x
Sun, 26 May 2024R5.7tR5.3tR431.2b8.7x13.3x1.1x
Tue, 23 Apr 2024R5.3tR5.3tR435.6b8.5x12.2x1x
Thu, 21 Mar 2024R5.3tR5.4tR448.8b8.5x11.9x1x
Sat, 17 Feb 2024R5.5tR5.3tR526.0b9x10.4x1x
Mon, 15 Jan 2024R5.7tR5.4tR541.0b9.4x10.5x1x
Wed, 13 Dec 2023R5.5tR5.5tR544.3b9.1x10.2x1x
Fri, 10 Nov 2023R5.5tR5.5tR537.8b9x10.2x1x
Sun, 08 Oct 2023R5.3tR5.5tR549.9b9.1x9.6x1x
Tue, 05 Sep 2023R5.8tR5.4tR560.4b8.8x10.4x1.1x
Thu, 03 Aug 2023R5.9tR5.4tR633.9b8.5x9.4x1.1x
Sat, 01 Jul 2023R5.8tR5.4tR660.8b8.6x8.9x1.1x
Mon, 29 May 2023R5.7tR5.4tR663.3b8.2x8.6x1.1x
Wed, 26 Apr 2023R6.1tR5.4tR671.2b8.1x9.1x1.1x
Fri, 24 Mar 2023R5.9tR5.3tR642.4b8.3x9.2x1.1x
Sun, 19 Feb 2023R6.3tR5.3tR659.8b8.5x9.5x1.2x
Tue, 17 Jan 2023R6.3tR5.2tR657.1b8.3x9.7x1.2x
Thu, 15 Dec 2022R6.0tR5.2tR657.9b8.5x9.2x1.2x
Sat, 12 Nov 2022R6.2tR5.1tR834.4b8.9x7.4x1.2x
Mon, 10 Oct 2022R5.7tR5.2tR838.8b8.5x6.8x1.1x
Wed, 07 Sep 2022R5.8tR5.3tR805.4b8.5x7.2x1.1x
Fri, 05 Aug 2022R5.9tR5.2tR753.3b8.4x7.8x1.1x
Sun, 03 Jul 2022R5.8tR5.2tR780.3b8.4x7.4x1.1x
Tue, 31 May 2022R6.7tR5.2tR789.2b9.3x8.4x1.3x
Thu, 28 Apr 2022R6.6tR5.2tR788.0b9.4x8.3x1.3x
Sat, 26 Mar 2022R7.2tR5.3tR772.6b10.2x9.3x1.4x
Mon, 21 Feb 2022R7.2tR5.1tR758.5b10.6x9.5x1.4x
Wed, 19 Jan 2022R7.0tR5.1tR766.6b10.7x9.1x1.4x
Fri, 17 Dec 2021R6.7tR5.1tR777.5b10.4x8.6x1.3x
Sun, 14 Nov 2021R6.8tR5.1tR604.1b10.6x11.2x1.3x
Tue, 12 Oct 2021R6.7tR5.0tR581.0b11.1x11.5x1.3x
Price to Earnings Ratio

11.5x


Total Market Cap: R6.7tTotal Earnings: R581.0bTotal Revenue: R5.0tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 10.1x202220232024
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 18.7x which is higher than its 3-year average PE of 10.1x.
Past Earnings Growth
  • The earnings for South African listed companies have declined 16% 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-1.59%
Materials1.00%
Consumer Discretionary0.60%
Energy0.47%
Healthcare0.087%
Utilities0%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Real Estate-1.94%
Industrials-2.12%
Consumer Staples-2.39%
Financials-2.55%
Tech-2.95%
Telecom-7.97%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 18.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 37.7% which is higher than its past year's earnings decline of 6.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 38% over the next 5 years.
  • This is better than its past earnings decline of 6.7% per year.
  • In contrast, the Real Estate sector is expected to see its earnings decline by 2.2% 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
NPN NaspersR4.33k2.6%
+R18.4b		39.9%PE13.6xConsumer Discretionary
SOL SasolR126.6510.7%
+R7.8b		-46.8%PS0.3xMaterials
IMP Impala Platinum HoldingsR106.837.2%
+R6.5b		28.5%PS1.1xMaterials
AMS Anglo American PlatinumR667.663.8%
+R6.5b		5.2%PE15.1xMaterials
SSW Sibanye StillwaterR20.348.1%
+R4.3b		-20.1%PS0.5xMaterials
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Market Insights

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🏦 Making Sense of the Financial Sector - Part 1

Richard Bowman avatar
Richard Bowman
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5 comments

In last week’s third-quarter review, we mentioned that financial sector stocks are showing signs of life and beginning to outperform. In the era of ‘easy money’, cloud computing, and AI, the financial sector has taken a back seat for a lot of investors...

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🎢 Another Eventful 3 Months - The Sectors That Excelled In Q3
Last Week

🎢 Another Eventful 3 Months - The Sectors That Excelled In Q3

Latest News

SOL

R126.65

Sasol

7D

10.7%

1Y

-46.8%

Sasol Limited's (JSE:SOL) Prospects Need A Boost To Lift Shares

Oct 03
Sasol Limited's (JSE:SOL) Prospects Need A Boost To Lift Shares

VOD

R105.12

Vodacom Group

7D

-7.3%

1Y

0.6%

IMP

R106.83

Impala Platinum Holdings

7D

7.2%

1Y

28.5%

FSR

R81.65

FirstRand

7D

-3.8%

1Y

29.5%

HAR

R171.63

Harmony Gold Mining

7D

-8.7%

1Y

134.5%

NPN

R4,330.92

Naspers

7D

2.6%

1Y

39.9%

OMU

R13.23

Old Mutual

7D

-4.1%

1Y

10.9%

NPH

R117.76

Northam Platinum Holdings

7D

6.1%

1Y

14.7%

SHP

R290.00

Shoprite Holdings

7D

-4.2%

1Y

22.1%

SSW

R20.34

Sibanye Stillwater

7D

8.1%

1Y

-20.1%

MTN

R85.84

MTN Group

7D

-9.9%

1Y

-23.0%

MTN Group (JSE:MTN) Use Of Debt Could Be Considered Risky

Sep 13
MTN Group (JSE:MTN) Use Of Debt Could Be Considered Risky

AMS

R667.66

Anglo American Platinum

7D

3.8%

1Y

5.2%

TGA

R122.67

Thungela Resources

7D

12.2%

1Y

-27.5%

ABG

R169.45

Absa Group

7D

-4.9%

1Y

-2.2%

SBK

R237.38

Standard Bank Group

7D

-3.7%

1Y

26.9%

PIK

R29.06

Pick n Pay Stores

7D

12.3%

1Y

-5.5%