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South African (JSE) Market Analysis & Valuation

UpdatedNov 13, 2024
DataAggregated Company Financials
Companies214
  • 7D-2.7%
  • 3M5.4%
  • 1Y14.9%
  • YTD9.6%

Over the last 7 days, the market has dropped 2.7%, driven by a pullback of 10% in the Materials sector. In contrast to the last week, the market is actually up 15% over the past year. Earnings are forecast to grow by 20% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 13 Nov 2024R6.2tR5.3tR341.6b10.1x18.3x1.2x
Fri, 11 Oct 2024R6.3tR5.1tR337.2b10.3x18.6x1.2x
Sun, 08 Sep 2024R6.0tR5.2tR347.6b10.1x17.2x1.1x
Tue, 06 Aug 2024R5.8tR5.2tR419.1b9.3x13.9x1.1x
Thu, 04 Jul 2024R5.9tR5.2tR422.4b9.2x13.9x1.1x
Sat, 01 Jun 2024R5.5tR5.2tR434.1b8.7x12.6x1x
Mon, 29 Apr 2024R5.4tR5.3tR434.6b8.4x12.5x1x
Wed, 27 Mar 2024R5.4tR5.4tR432.9b8.6x12.5x1x
Fri, 23 Feb 2024R5.5tR5.3tR520.1b9.1x10.6x1x
Sun, 21 Jan 2024R5.6tR5.5tR543.5b9.3x10.2x1x
Tue, 19 Dec 2023R5.8tR5.4tR540.8b9.3x10.7x1.1x
Thu, 16 Nov 2023R5.7tR5.5tR534.9b9.3x10.6x1x
Sat, 14 Oct 2023R5.5tR5.4tR547.1b9x10x1x
Mon, 11 Sep 2023R5.7tR5.5tR559.7b8.8x10.2x1x
Wed, 09 Aug 2023R6.0tR5.4tR631.2b8.5x9.5x1.1x
Fri, 07 Jul 2023R5.7tR5.4tR662.5b8.5x8.6x1.1x
Sun, 04 Jun 2023R5.8tR5.4tR662.5b8.3x8.8x1.1x
Tue, 02 May 2023R6.1tR5.3tR668.8b8.2x9.1x1.1x
Thu, 30 Mar 2023R6.0tR5.3tR648.5b8.3x9.3x1.1x
Sat, 25 Feb 2023R6.1tR5.3tR640.0b8.6x9.6x1.2x
Mon, 23 Jan 2023R6.4tR5.2tR658.1b8.3x9.7x1.2x
Wed, 21 Dec 2022R6.0tR5.2tR658.5b8.3x9.1x1.1x
Fri, 18 Nov 2022R6.1tR5.2tR834.7b8.6x7.3x1.2x
Sun, 16 Oct 2022R5.6tR5.2tR841.6b8.5x6.6x1.1x
Tue, 13 Sep 2022R6.0tR5.2tR807.6b8.9x7.4x1.2x
Thu, 11 Aug 2022R6.0tR5.2tR747.3b8.7x8.1x1.2x
Sat, 09 Jul 2022R6.0tR5.3tR786.9b8.6x7.7x1.1x
Mon, 06 Jun 2022R6.5tR5.2tR791.2b9.1x8.3x1.3x
Wed, 04 May 2022R6.6tR5.2tR785.2b9.4x8.5x1.3x
Fri, 01 Apr 2022R7.2tR5.2tR761.2b10.2x9.5x1.4x
Sun, 27 Feb 2022R7.1tR5.1tR765.6b10.4x9.2x1.4x
Tue, 25 Jan 2022R6.8tR5.1tR763.4b10.6x9x1.3x
Thu, 23 Dec 2021R6.8tR5.1tR770.4b10.6x8.8x1.3x
Sat, 20 Nov 2021R6.8tR5.1tR609.0b10.7x11.2x1.3x
Price to Earnings Ratio

11.2x


Total Market Cap: R6.8tTotal Earnings: R609.0bTotal Revenue: R5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 10.4x202220232024
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 10.4x.
Past Earnings Growth
  • The earnings for South African listed companies have declined 18% 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-2.66%
Consumer Staples1.50%
Utilities0%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Tech-0.64%
Financials-0.89%
Real Estate-1.16%
Energy-1.76%
Healthcare-1.85%
Consumer Discretionary-2.08%
Industrials-2.13%
Telecom-2.92%
Materials-10.05%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 18.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 39.1% which is higher than its past year's earnings decline of 10.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 39% over the next 5 years.
  • This is better than its past earnings decline of 11% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 4.8% 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
BID BidR457.067.2%
+R10.3b		10.3%PE19.1xConsumer Staples
INL Investec GroupR141.672.6%
+R3.2b		21.9%PE9xFinancials
WHL Woolworths HoldingsR66.704.2%
+R2.4b		-8.5%PE23.3xConsumer Discretionary
DSY DiscoveryR187.691.8%
+R2.2b		42.1%PE17.4xFinancials
FSR FirstRandR77.610.3%
+R1.4b		19.4%PE11.4xFinancials
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