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South African (JSE) Market Analysis & Valuation
UpdatedNov 29, 2024
DataAggregated Company Financials
Companies215
- 7D-1.6%
- 3M2.1%
- 1Y13.1%
- YTD9.8%
Over the last 7 days, the market has dropped 1.6%, driven by declines in the Financials and Materials sectors of 1.9% and 4.0%, respectively. On the other hand, the Information Technology has risen by 5.0%. In the last year, the market is actually up 13%. Earnings are forecast to grow by 19% annually.
Market Valuation and Performance
Has the South African Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 30 Nov 2024 | R6.3t | R5.3t | R349.0b | 9.9x | 18x | 1.2x |
| Mon, 28 Oct 2024 | R6.4t | R5.1t | R339.6b | 10.5x | 18.8x | 1.2x |
| Wed, 25 Sep 2024 | R6.3t | R5.2t | R334.4b | 10.1x | 18.8x | 1.2x |
| Fri, 23 Aug 2024 | R6.1t | R5.2t | R352.1b | 9.6x | 17.4x | 1.2x |
| Sun, 21 Jul 2024 | R5.8t | R5.2t | R421.7b | 9.4x | 13.8x | 1.1x |
| Tue, 18 Jun 2024 | R5.6t | R5.2t | R433.4b | 8.6x | 12.8x | 1.1x |
| Thu, 16 May 2024 | R5.7t | R5.3t | R432.2b | 8.7x | 13.3x | 1.1x |
| Sat, 13 Apr 2024 | R5.5t | R5.3t | R433.1b | 8.6x | 12.7x | 1x |
| Mon, 11 Mar 2024 | R5.5t | R5.3t | R448.7b | 8.6x | 12.2x | 1x |
| Wed, 07 Feb 2024 | R5.6t | R5.3t | R534.9b | 9x | 10.5x | 1.1x |
| Fri, 05 Jan 2024 | R5.7t | R5.4t | R541.3b | 9.4x | 10.5x | 1x |
| Sun, 03 Dec 2023 | R5.6t | R5.4t | R545.2b | 9.1x | 10.3x | 1x |
| Tue, 31 Oct 2023 | R5.3t | R5.5t | R545.5b | 8.7x | 9.7x | 1x |
| Thu, 28 Sep 2023 | R5.5t | R5.5t | R552.2b | 9x | 9.9x | 1x |
| Sat, 26 Aug 2023 | R5.8t | R5.4t | R596.0b | 8.5x | 9.7x | 1.1x |
| Mon, 24 Jul 2023 | R6.0t | R5.4t | R654.4b | 8.5x | 9.1x | 1.1x |
| Wed, 21 Jun 2023 | R6.0t | R5.4t | R636.1b | 8.4x | 9.4x | 1.1x |
| Fri, 19 May 2023 | R5.8t | R5.4t | R671.1b | 7.8x | 8.7x | 1.1x |
| Sun, 16 Apr 2023 | R6.2t | R5.3t | R656.6b | 8.4x | 9.4x | 1.2x |
| Tue, 14 Mar 2023 | R6.0t | R5.2t | R647.2b | 8.4x | 9.3x | 1.2x |
| Thu, 09 Feb 2023 | R6.4t | R5.2t | R661.4b | 8.4x | 9.7x | 1.2x |
| Sat, 07 Jan 2023 | R6.2t | R5.2t | R658.0b | 8.3x | 9.4x | 1.2x |
| Mon, 05 Dec 2022 | R6.0t | R5.2t | R658.8b | 8.3x | 9.2x | 1.2x |
| Wed, 02 Nov 2022 | R5.8t | R5.2t | R842.6b | 8.6x | 6.9x | 1.1x |
| Fri, 30 Sep 2022 | R5.5t | R5.1t | R835.3b | 8.4x | 6.6x | 1.1x |
| Sun, 28 Aug 2022 | R6.0t | R5.3t | R801.1b | 8.5x | 7.5x | 1.1x |
| Tue, 26 Jul 2022 | R5.9t | R5.3t | R787.7b | 8.6x | 7.4x | 1.1x |
| Thu, 23 Jun 2022 | R6.1t | R5.2t | R804.3b | 8.8x | 7.6x | 1.2x |
| Sat, 21 May 2022 | R6.3t | R5.2t | R794.8b | 9.1x | 8x | 1.2x |
| Mon, 18 Apr 2022 | R6.9t | R5.2t | R765.7b | 9.9x | 9x | 1.3x |
| Wed, 16 Mar 2022 | R6.9t | R5.2t | R763.6b | 10x | 9.1x | 1.3x |
| Fri, 11 Feb 2022 | R7.2t | R5.1t | R760.8b | 10.7x | 9.5x | 1.4x |
| Sun, 09 Jan 2022 | R6.9t | R5.1t | R768.8b | 10.8x | 9x | 1.4x |
| Tue, 07 Dec 2021 | R6.7t | R5.1t | R770.5b | 10.2x | 8.7x | 1.3x |
Price to Earnings Ratio
8.7x
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 18.0x which is higher than its 3-year average PE of 10.5x.
Past Earnings Growth
- The earnings for South African listed companies have declined 23% 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 | -1.60% | |
| Tech | 5.04% | |
| Real Estate | 0.20% | |
| Utilities | 0% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Consumer Staples | -0.088% | |
| Consumer Discretionary | -0.40% | |
| Telecom | -0.73% | |
| Healthcare | -1.64% | |
| Financials | -1.88% | |
| Industrials | -2.63% | |
| Energy | -3.42% | |
| Materials | -4.04% | |
Sector PE
- Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 18.8x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 39.2% 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 39% over the next 5 years.
- This is better than its past earnings decline of 3.1% per year.
- In contrast, the Energy sector is expected to see its earnings decline by 7.1% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| PPH Pepkor Holdings | R26.73 | 10.5% +R9.3b | 43.3% | PE42.1x | Consumer Discretionary | |
| VKE Vukile Property Fund | R18.30 | 0.8% +R2.5b | 36.4% | PB0.9x | Real Estate | |
| SPG Super Group | R28.46 | 20.5% +R1.6b | -0.8% | PE221.7x | Consumer Discretionary | |
| MSP MAS | R20.72 | 11.8% +R1.5b | 21.1% | PE6.2x | Real Estate | |
| NPN Naspers | R4.07k | 0.2% +R1.5b | 20.1% | PE11.6x | Consumer Discretionary |
