JSE Limited

JSE:JSE Stock Report

Market Cap: R13.1b

JSE Future Growth

Future criteria checks 1/6

JSE is forecast to grow earnings and revenue by 4.8% and 6.7% per annum respectively. EPS is expected to grow by 3.9% per annum. Return on equity is forecast to be 20.4% in 3 years.

Key information

4.8%

Earnings growth rate

3.90%

EPS growth rate

Capital Markets earnings growth9.5%
Revenue growth rate6.7%
Future return on equity20.35%
Analyst coverage

Low

Last updated10 Mar 2026

Recent future growth updates

Recent updates

Narrative Update • Apr 24

JSE: Future Dividends And Steady Assumptions Will Shape Return Profile

Analysts have kept the JSE price target steady at ZAR165, with only minor tweaks to assumptions such as a slightly higher discount rate and marginally adjusted revenue growth, profit margin and future P/E inputs informing this unchanged view. What's in the News JSE Limited announced an annual dividend of ZAR 9.61 per share, payable on April 20, 2026, with an ex-date of April 15, 2026, and a record date of April 17, 2026 (Key Developments).
Narrative Update • Apr 08

JSE: Future Dividends And Stable Assumptions Will Shape Return Profile

Analysts have left their ZAR fair value estimate for JSE unchanged at ZAR165, with only small adjustments to the discount rate and assumed future P/E, supporting a steady view on the stock's valuation. What's in the News JSE Limited announced an annual dividend of ZAR 9.6100 per share, payable on April 20, 2026, with an ex-date of April 15, 2026 and a record date of April 17, 2026 (Key Developments).
Narrative Update • Mar 25

JSE: Future Dividends And Stable Assumptions Will Shape Return Profile

Analysts have trimmed their JSE price target slightly to ZAR165 from ZAR166, reflecting minor adjustments to assumptions around the discount rate, long term revenue growth, profit margin and future P/E. What's in the News Annual dividend of ZAR 9.61 per share declared, with ex date on April 15, 2026, record date on April 17, 2026, and payment on April 20, 2026 (company announcement).
New Narrative • Mar 11

Data And Infrastructure Modernisation Will Reshape This Exchange Over The Next Decade

Catalysts About JSE JSE operates South Africa's primary securities exchange, providing trading, clearing, settlement and information services across multiple asset classes. What are the underlying business or industry changes driving this perspective?
Narrative Update • Mar 10

JSE: Future Dividend Payouts And Revised Assumptions Will Shape Return Profile

Analysts have lifted their JSE price target from ZAR154.50 to ZAR166.00, pointing to a recalibrated view that blends a lower discount rate, a slightly softer revenue growth outlook, a small uptick in profit margin, and a reduced future P/E assumption. What's in the News JSE Limited announced an annual dividend of ZAR 9.61 per share, payable on April 20, 2026, with ex-date on April 15, 2026, and record date on April 17, 2026 (Key Developments).
Narrative Update • Sep 24

Digital Infrastructure Upgrades And African Market Expansion Will Boost Efficiency

The consensus price target for JSE saw a slight upward revision as analysts raised their revenue growth forecasts, while profit margin expectations remained stable, resulting in a new fair value of ZAR154.50. Valuation Changes Summary of Valuation Changes for JSE The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from ZAR152.60 to ZAR154.50.
Analysis Article • May 08

Here's Why Shareholders May Want To Be Cautious With Increasing JSE Limited's (JSE:JSE) CEO Pay Packet

Key Insights JSE to hold its Annual General Meeting on 14th of May CEO Leila Fourie's total compensation includes...
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New Narrative • Mar 16

Data And Analytics Expansion Will Increase Product Offerings By 2025

Expansion in data and analytics aims to diversify offerings and boost non-trading revenue, supporting overall growth.
Analysis Article • May 01

Shareholders Will Probably Hold Off On Increasing JSE Limited's (JSE:JSE) CEO Compensation For The Time Being

Key Insights JSE's Annual General Meeting to take place on 7th of May Total pay for CEO Leila Fourie includes R7.64m...
Analysis Article • Mar 28

JSE (JSE:JSE) Is Paying Out A Larger Dividend Than Last Year

The board of JSE Limited ( JSE:JSE ) has announced that it will be paying its dividend of ZAR7.84 on the 15th of April...
Analysis Article • Mar 03

JSE (JSE:JSE) Is Increasing Its Dividend To R8.54

The board of JSE Limited ( JSE:JSE ) has announced that the dividend on 28th of March will be increased to R8.54, which...

Earnings and Revenue Growth Forecasts

JSE:JSE - Analysts future estimates and past financials data (ZAR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20284,2561,2531,0271,4701
12/31/20273,9181,1791,1371,4513
12/31/20263,7841,1741,0211,3631
12/31/20253,4311,0711,0901,229N/A
9/30/20253,2991,0271,0311,170N/A
6/30/20253,1679839721,110N/A
3/31/20253,0809509631,102N/A
12/31/20242,9939189531,094N/A
9/30/20242,9378749601,110N/A
6/30/20242,8818319661,126N/A
3/31/20242,8508319551,118N/A
12/31/20232,8208319441,111N/A
9/30/20232,7688138781,021N/A
6/30/20232,717795812932N/A
3/31/20232,687772798955N/A
12/31/20222,657749785978N/A
9/30/20222,654785770978N/A
6/30/20222,652821755979N/A
3/31/20222,587772753948N/A
12/31/20212,523722752917N/A
6/30/20212,410642852950N/A
3/31/20212,429712824977N/A
12/31/20202,4487817961,003N/A
6/30/20202,392788746961N/A
3/31/20202,292744761921N/A
12/31/20192,192700775880N/A
9/30/20192,158721N/AN/AN/A
6/30/20192,128742N/A836N/A
3/31/20192,166823N/A874N/A
12/31/20182,204904N/A913N/A
6/30/20182,2931,001N/A1,011N/A
3/31/20182,262931N/A994N/A
12/31/20172,232860N/A977N/A
9/30/20172,254831N/A959N/A
6/30/20172,262826N/A942N/A
3/31/20172,310873N/A959N/A
12/31/20162,359920N/A976N/A
9/30/20162,340951N/A995N/A
6/30/20162,322982N/A1,013N/A
3/31/20162,259941N/A951N/A
12/31/20152,196899N/A888N/A
9/30/20152,085816N/A808N/A
6/30/20151,973732N/A727N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: JSE's forecast earnings growth (4.8% per year) is below the savings rate (9.8%).

Earnings vs Market: JSE's earnings (4.8% per year) are forecast to grow slower than the ZA market (15.8% per year).

High Growth Earnings: JSE's earnings are forecast to grow, but not significantly.

Revenue vs Market: JSE's revenue (6.7% per year) is forecast to grow slower than the ZA market (7% per year).

High Growth Revenue: JSE's revenue (6.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: JSE's Return on Equity is forecast to be high in 3 years time (20.4%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/07 23:26
End of Day Share Price 2026/05/07 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

JSE Limited is covered by 10 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Sabena OmarAvior Capital Markets
Frederik Conradie de BeerAvior Capital Markets
Bankole UboguDeutsche Bank