JSE Limited Ratios and Metrics

Market cap in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 19, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	13,288	11,667	10,324	7,906	9,277	9,578
Market Cap Growth	24.24%	13.00%	30.59%	-14.78%	-3.15%	-0.44%
Enterprise Value	10,913	9,800	8,610	6,177	7,445	7,801
Last Close Price	164.06	143.43	112.88	78.82	85.82	82.36
PE Ratio	12.72	10.90	11.25	9.51	12.39	13.26
Forward PE	11.60	10.30	10.30	10.30	10.30	10.84
PS Ratio	3.87	3.40	3.45	2.80	3.49	3.80
PB Ratio	2.62	2.30	2.21	1.80	2.22	2.27
P/TBV Ratio	3.03	2.66	2.58	2.13	2.67	2.74
P/FCF Ratio	11.13	9.77	9.89	7.65	10.09	11.72
P/OCF Ratio	10.81	9.49	9.43	7.12	9.49	10.44
PEG Ratio	-	2.85	2.85	2.85	2.85	2.85
EV/Sales Ratio	3.18	2.86	2.88	2.19	2.80	3.09
EV/EBITDA Ratio	8.74	8.40	9.18	6.93	8.56	9.11
EV/EBIT Ratio	9.40	8.84	9.93	7.55	9.40	9.95
EV/FCF Ratio	9.14	8.21	8.25	5.98	8.10	9.54
Debt / Equity Ratio	0.04	0.04	0.05	0.03	0.05	0.06
Debt / EBITDA Ratio	0.15	0.15	0.21	0.13	0.21	0.28
Debt / FCF Ratio	0.16	0.16	0.20	0.12	0.21	0.31
Net Debt / Equity Ratio	-0.47	-0.47	-0.43	-0.50	-0.49	-0.51
Net Debt / EBITDA Ratio	-2.04	-2.04	-2.13	-2.44	-2.35	-2.50
Net Debt / FCF Ratio	-1.99	-1.99	-1.91	-2.11	-2.22	-2.62
Asset Turnover	0.06	0.06	0.05	0.05	0.04	0.05
Quick Ratio	0.05	0.05	0.06	0.06	0.05	0.05
Current Ratio	1.04	1.04	1.05	1.04	1.04	1.04
Return on Equity (ROE)	21.97%	21.97%	20.24%	19.42%	17.84%	17.27%
Return on Assets (ROA)	1.13%	1.13%	0.94%	0.84%	0.81%	0.87%
Return on Invested Capital (ROIC)	30.41%	30.42%	25.99%	27.47%	27.19%	28.01%
Return on Capital Employed (ROCE)	21.00%	21.00%	17.60%	18.20%	18.20%	17.50%
Earnings Yield	8.06%	9.18%	8.89%	10.51%	8.07%	7.54%
FCF Yield	8.99%	10.24%	10.11%	13.07%	9.91%	8.54%
Dividend Yield	5.99%	6.70%	7.34%	9.95%	8.96%	9.16%
Payout Ratio	64.79%	64.79%	71.90%	77.74%	84.81%	84.82%
Buyback Yield / Dilution	0.07%	0.07%	-0.15%	0.16%	0.37%	0.29%
Total Shareholder Return	6.06%	6.77%	7.19%	10.11%	9.33%	9.45%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.