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South African (JSE) Market Analysis & Valuation

UpdatedMay 15, 2024
DataAggregated Company Financials
Companies211
  • 7D1.9%
  • 3M4.4%
  • 1Y3.6%
  • YTD-0.8%

The Consumer Discretionary and Materials sectors drove a 1.9% in the market over the last week. Meanwhile, the Communication Services sector has underperformed, shrinking 6.2% in that time. As for the past 12 months, the market is up 3.6%. As for the next few years, earnings are expected to grow by 16% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 May 2024R5.7tR5.3tR430.4b8.7x13.2x1.1x
Fri, 12 Apr 2024R5.5tR5.3tR432.2b8.7x12.8x1x
Sun, 10 Mar 2024R5.5tR5.3tR448.7b8.6x12.2x1x
Tue, 06 Feb 2024R5.6tR5.3tR536.3b9.1x10.4x1x
Thu, 04 Jan 2024R5.7tR5.4tR541.3b9.5x10.6x1x
Sat, 02 Dec 2023R5.6tR5.4tR545.3b9.1x10.3x1x
Mon, 30 Oct 2023R5.3tR5.5tR545.2b8.9x9.6x1x
Wed, 27 Sep 2023R5.5tR5.5tR551.2b9x10x1x
Fri, 25 Aug 2023R5.8tR5.4tR596.8b8.5x9.7x1.1x
Sun, 23 Jul 2023R6.0tR5.4tR654.4b8.5x9.1x1.1x
Tue, 20 Jun 2023R6.1tR5.4tR637.2b8.5x9.5x1.1x
Thu, 18 May 2023R5.9tR5.4tR668.3b8x8.8x1.1x
Sat, 15 Apr 2023R6.2tR5.3tR656.6b8.4x9.4x1.2x
Mon, 13 Mar 2023R6.1tR5.3tR647.5b8.5x9.3x1.1x
Wed, 08 Feb 2023R6.4tR5.2tR660.4b8.6x9.7x1.2x
Fri, 06 Jan 2023R6.1tR5.2tR657.5b8.2x9.3x1.2x
Sun, 04 Dec 2022R6.0tR5.2tR658.8b8.3x9.2x1.2x
Tue, 01 Nov 2022R5.8tR5.2tR844.3b8.6x6.8x1.1x
Thu, 29 Sep 2022R5.5tR5.1tR833.6b8.4x6.6x1.1x
Sat, 27 Aug 2022R6.0tR5.3tR801.0b8.5x7.5x1.1x
Mon, 25 Jul 2022R5.9tR5.3tR788.2b8.5x7.5x1.1x
Wed, 22 Jun 2022R6.2tR5.2tR803.9b8.8x7.8x1.2x
Fri, 20 May 2022R6.3tR5.2tR790.4b9.2x8x1.2x
Sun, 17 Apr 2022R6.9tR5.2tR765.7b9.9x9x1.3x
Tue, 15 Mar 2022R7.0tR5.2tR750.2b10.3x9.3x1.3x
Thu, 10 Feb 2022R7.2tR5.1tR762.7b10.7x9.5x1.4x
Sat, 08 Jan 2022R6.9tR5.1tR768.0b10.7x9x1.4x
Mon, 06 Dec 2021R6.7tR5.1tR773.7b10.2x8.7x1.3x
Wed, 03 Nov 2021R6.7tR5.0tR588.3b10.9x11.4x1.3x
Fri, 01 Oct 2021R6.5tR5.0tR565.6b11.6x11.6x1.3x
Sun, 29 Aug 2021R6.6tR4.9tR513.3b11.8x12.8x1.4x
Mon, 05 Jul 2021R6.5tR4.8tR511.2b11.5x12.7x1.3x
Price to Earnings Ratio

18x


Total Market Cap: R6.7tTotal Earnings: R373.6bTotal Revenue: R4.6tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 9.9x202220232024
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 13.2x which is higher than its 3-year average PE of 9.9x.
Past Earnings Growth
  • The earnings for South African listed companies have grown 4.8% 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 Market1.95%
Consumer Discretionary5.48%
Materials4.63%
Industrials2.00%
Consumer Staples1.40%
Real Estate1.02%
Financials0.64%
Tech0.44%
Healthcare0.037%
Utilities0%
Energy-2.93%
Telecom-6.17%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 11.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 30.8% which is higher than its past year's earnings decline of 6.6% 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?

CompanyLast Price7D1YValuationSector
NPN NaspersR4.00k7.3%
+R48.1b		20.8%PE8.8xConsumer Discretionary
GFI Gold FieldsR310.085.8%
+R15.3b		3.4%PE20.9xMaterials
KIO Kumba Iron OreR541.529.4%
+R15.0b		17.3%PE7.6xMaterials
IMP Impala Platinum HoldingsR99.008.4%
+R6.9b		-43.6%PS1xMaterials
HAR Harmony Gold MiningR172.205.2%
+R5.3b		74.7%PE12xMaterials
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R89.02

Vodacom Group

7D

-3.6%

1Y

-20.0%

SOL

R132.75

Sasol

7D

-1.5%

1Y

-42.3%

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R717.20

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2.6%

1Y

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CPI

R2,280.00

Capitec Bank Holdings

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1Y

54.2%

GFI

R310.08

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5.8%

1Y

3.4%

ABG

R151.52

Absa Group

7D

2.7%

1Y

-4.5%

MTN

R84.82

MTN Group

7D

-9.6%

1Y

-26.2%

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EXX

R185.00

Exxaro Resources

7D

-4.1%

1Y

7.6%

KIO

R541.52

Kumba Iron Ore

7D

9.4%

1Y

17.3%

SBK

R186.03

Standard Bank Group

7D

1.7%

1Y

18.1%

HAR

R172.20

Harmony Gold Mining

7D

5.2%

1Y

74.7%

IMP

R99.00

Impala Platinum Holdings

7D

8.4%

1Y

-43.6%

OMU

R10.89

Old Mutual

7D

-1.2%

1Y

-2.4%

DSY

R107.21

Discovery

7D

-8.4%

1Y

-20.1%

GRT

R10.83

Growthpoint Properties

7D

-1.5%

1Y

-9.1%

NPN

R4,000.00

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7D

7.3%

1Y

20.8%

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