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Sasol ZAR

Sasol is an integrated chemical and energy company that produces a wide range of products including fuels, lubricants, and chemical feedstocks from coal, gas, and oil. It also manufactures specialty chemicals for industries such as agriculture, construction, and mining.

At a glance: strengths & risks
✓Revenue growing (+9%)✓Profit growing (+80%)✓Low leverage (0.4x EBITDA)

Sector: Energy / Chemicals

ZA_SOL

Price chart

233 ZARDay 0.64%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
233 ZAR · 0.64%
Market cap
147.7 bn ZAR

Growth

Δ revenue y/y
17.9%
Δ EBITDA y/y
26.2%

Multiples

P/E (LTM)
12.2x
P/B (FY)
0.9x
P/E (ann.)
6.2x
EV/EBITDA (LTM)
3.0x
EV/EBITDA (ann.)
2.3x

Cash return

Dividend yield
—
FCF yield (LTM)
32.3%

Liquidity

Daily turnover (listing)
35.6 mln ZAR

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B ZAR, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB ZAROperating profitB ZARD&AB ZAREBITDAB ZARNet profitB ZAROperating CFB ZARCapex + M&AB ZARAssetsB ZAREquityB ZARROE (annualized)Net debtB ZARSource
2026-06-30H2 2026 (6M)OK149.7
y/y 17.9%
31.0
y/y 31.6%
7.1
y/y 7.2%
38.0
y/y 26.2%
11.9
y/y 449.5%
23.4-12.3363.8
y/y 1.2%
170.0
y/y 11.6%
7.4%24.6Link
2025-12-31H1 2026 (6M)OK122.4
y/y 0.2%
12.0
y/y -17.0%
6.5
y/y -11.8%
18.5
y/y -15.2%
0.2
y/y -94.8%
9.1-8.5339.7
y/y -7.6%
156.7
y/y 2.8%
0.3%59.4Link
2025-06-30H2 2025 (6M)OK127.0
y/y -8.5%
23.5
y/y -7.3%
6.6
y/y -16.7%
30.1
y/y -9.6%
2.2
y/y 104.0%
24.4-10.4359.6
y/y -1.5%
152.4
y/y 6.6%
4.4%-41.0Report (PDF)
2024-12-31H1 2025 (6M)OK122.1
y/y -10.4%
14.4
y/y -25.8%
7.4
y/y -4.1%
21.8
y/y -19.7%
4.6
y/y -52.0%
13.9-15.0367.7
y/y -13.9%
152.5
y/y -24.5%
6.2%79.2Link
2024-06-30H2 2024 (6M)OK138.8
y/y —
25.4
y/y —
7.9
y/y —
33.3
y/y —
-53.9
y/y —
20.8-14.3365.0
y/y -15.9%
143.0
y/y -27.4%
-25.7%72.3Link
2023-12-31H1 2024 (6M)OK136.3
y/y —
19.4
y/y —
7.7
y/y —
27.1
y/y —
9.6
y/y —
8.9-15.9427.1
y/y —
202.0
y/y —
9.6%84.0Link
2023-06-30FY 2023 (12M)OK289.7
y/y —
46.8
y/y —
16.5
y/y —
63.3
y/y —
8.8
y/y —
35.4-30.9433.8
y/y —
196.9
y/y —
—73.1Link

Net debt structure (leases included, IFRS 16) 2025-06-30

Short-term debt (incl. ST leases)0
Long-term debt (incl. LT leases)0
− Cash & equivalents41 050
Net debt-41 050

Net debt / LTM EBITDA: -0.7x

Revenue & EBITDA

RevenueEBITDA

Quarterly values (ZAR mln)

050 000100 000150 0002023 H12023 H22024 H12024 H22025 H12025 H22026 H12026 H2

Year-over-year change

-40%-20%0%20%40%2023 H12023 H22024 H12024 H22025 H12025 H22026 H12026 H2

Cash flow

FCF (ZAR mln)

-10 000-5 00005 00010 00015 0002023 H12023 H22024 H12024 H22025 H12025 H22026 H12026 H2

Net debt / cash (ZAR mln)

-50 000050 000100 0002023 H12023 FY2024 H12024 FY2025 H12025 FY2026 H12026 FY

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 3.35x of reported net profit; after capex, 0.74x. Loss years (2024) are left out of the ratio.
year20222023202420252026
cash flow / profit1.03x4.03x—5.66x2.67x
accruals, % of assets-0.3%-6.1%-20.3%-8.8%-5.6%
Last twelve months (to 2026-06-30): 2.67x of profit came back as operating cash flow.
net debt / EBITDA 0.4x · capex 1.8x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +9% vs -9% the year before — a +18.7 pp move. 3-year CAGR -2%.
revenue growth by year: 2024 -5% · 2025 -9% · 2026 +9%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2024-03-13200 ZAREx-dividend: 200 ZAR per sharePaidYahoo Finance (ex-div)
2023-09-131 000 ZAREx-dividend: 1 000 ZAR per sharePaidYahoo Finance (ex-div)
2023-03-08700 ZAREx-dividend: 700 ZAR per sharePaidYahoo Finance (ex-div)
2022-09-071 470 ZAREx-dividend: 1 470 ZAR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.sasol.com/investor-centre

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Sasol — from primary filings.

Frequently asked questions

What is Sasol's P/E ratio?
Sasol trades at a P/E of 12.2x (price to trailing 12-month earnings).
What is Sasol's EV/EBITDA?
Sasol trades at 3.0x EV/EBITDA.
What is Sasol's P/B ratio?
Sasol trades at a P/B of 0.9x.
What is Sasol's return on equity (ROE)?
Sasol's ROE is 14.0%.
What is Sasol's market capitalization?
Sasol's market cap is 147.7 bn ZAR.

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