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Apr 27
South African (JSE) Market Analysis & Valuation
UpdatedMay 20, 2024
DataAggregated Company Financials
Companies211
- 7D0.8%
- 3M5.7%
- 1Y5.5%
- YTD0.5%
The market has stayed flat over the 7 days. More promisingly, the market is up 5.5% over the past year. Earnings are forecast to grow by 16% 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 |
|---|---|---|---|---|---|---|
| Tue, 21 May 2024 | R5.8t | R5.3t | R431.0b | 8.6x | 13.3x | 1.1x |
| Thu, 18 Apr 2024 | R5.3t | R5.3t | R434.1b | 8.5x | 12.2x | 1x |
| Sat, 16 Mar 2024 | R5.4t | R5.4t | R455.7b | 8.4x | 11.8x | 1x |
| Mon, 12 Feb 2024 | R5.5t | R5.3t | R527.2b | 9.1x | 10.4x | 1x |
| Wed, 10 Jan 2024 | R5.7t | R5.4t | R540.9b | 9.5x | 10.5x | 1x |
| Fri, 08 Dec 2023 | R5.6t | R5.5t | R544.4b | 9.1x | 10.3x | 1x |
| Sun, 05 Nov 2023 | R5.5t | R5.4t | R541.9b | 8.9x | 10.2x | 1x |
| Tue, 03 Oct 2023 | R5.3t | R5.5t | R548.7b | 9x | 9.7x | 1x |
| Thu, 31 Aug 2023 | R5.9t | R5.4t | R581.5b | 8.7x | 10.1x | 1.1x |
| Sat, 29 Jul 2023 | R6.1t | R5.3t | R627.4b | 8.5x | 9.8x | 1.2x |
| Mon, 26 Jun 2023 | R5.8t | R5.4t | R628.8b | 8.3x | 9.2x | 1.1x |
| Wed, 24 May 2023 | R5.8t | R5.4t | R668.4b | 8x | 8.7x | 1.1x |
| Fri, 21 Apr 2023 | R6.2t | R5.3t | R663.0b | 8.3x | 9.3x | 1.2x |
| Sun, 19 Mar 2023 | R5.0t | R5.0t | R586.3b | 8.2x | 8.5x | 1x |
| Tue, 14 Feb 2023 | R6.4t | R5.2t | R658.6b | 8.6x | 9.7x | 1.2x |
| Thu, 12 Jan 2023 | R6.3t | R5.2t | R656.6b | 8.3x | 9.6x | 1.2x |
| Sat, 10 Dec 2022 | R6.1t | R5.2t | R658.4b | 8.6x | 9.2x | 1.2x |
| Mon, 07 Nov 2022 | R6.0t | R5.2t | R838.7b | 8.6x | 7.1x | 1.2x |
| Wed, 05 Oct 2022 | R5.7t | R5.1t | R832.4b | 8.6x | 6.9x | 1.1x |
| Fri, 02 Sep 2022 | R5.7t | R5.3t | R812.0b | 8.1x | 7x | 1.1x |
| Sun, 31 Jul 2022 | R5.9t | R5.2t | R766.1b | 8.6x | 7.7x | 1.1x |
| Tue, 28 Jun 2022 | R6.4t | R5.2t | R872.9b | 8.7x | 7.3x | 1.2x |
| Thu, 26 May 2022 | R6.2t | R5.2t | R790.8b | 9x | 7.9x | 1.2x |
| Sat, 23 Apr 2022 | R6.7t | R5.2t | R782.5b | 9.7x | 8.5x | 1.3x |
| Mon, 21 Mar 2022 | R7.3t | R5.2t | R768.1b | 10.3x | 9.5x | 1.4x |
| Wed, 16 Feb 2022 | R7.2t | R5.1t | R762.3b | 11x | 9.5x | 1.4x |
| Fri, 14 Jan 2022 | R7.2t | R5.1t | R764.9b | 10.6x | 9.4x | 1.4x |
| Sun, 12 Dec 2021 | R6.7t | R5.1t | R773.2b | 10x | 8.7x | 1.3x |
| Tue, 09 Nov 2021 | R6.7t | R5.0t | R586.5b | 11.1x | 11.5x | 1.3x |
| Thu, 07 Oct 2021 | R6.5t | R5.0t | R581.6b | 11.3x | 11.2x | 1.3x |
| Sat, 04 Sep 2021 | R6.5t | R4.9t | R513.3b | 11.8x | 12.7x | 1.3x |
| Mon, 02 Aug 2021 | R6.6t | R4.9t | R513.3b | 11.5x | 12.9x | 1.4x |
Price to Earnings Ratio
18x
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 13.3x which is higher than its 3-year average PE of 9.9x.
Past Earnings Growth
- The earnings for South African listed companies have grown 4.9% per year over the last three years.
- Revenues for these companies have grown 5.2% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the South African Market?
| ZA Market | 0.77% | |
| Consumer Discretionary | 1.75% | |
| Financials | 1.19% | |
| Materials | 1.16% | |
| Industrials | 1.09% | |
| Consumer Staples | 0.31% | |
| Utilities | 0% | |
| Real Estate | -0.36% | |
| Healthcare | -0.62% | |
| Energy | -1.44% | |
| Tech | -2.11% | |
| Telecom | -2.68% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 11.6x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 32.4% which is higher than its past year's earnings decline of 5.9% per year.
Forecasted Growth
- Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 71% over the next 5 years.
- This is better than its past earnings decline of 1.2% per year.
- In contrast, the Energy sector is expected to see its earnings decline by 14% 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 | |
|---|---|---|---|---|---|---|
| NPN Naspers | R3.93k | 2.2% +R13.4b | 17.8% | PE8.7x | Consumer Discretionary | |
| IMP Impala Platinum Holdings | R112.54 | 12.8% +R11.5b | -35.9% | PS1.1x | Materials | |
| HAR Harmony Gold Mining | R184.13 | 9.4% +R9.8b | 94.3% | PE12.8x | Materials | |
| FSR FirstRand | R69.21 | 2.6% +R9.7b | 11.7% | PE10.2x | Financials | |
| SSW Sibanye Stillwater | R25.81 | 12.0% +R7.8b | -29.5% | PS0.6x | Materials |
