Latest Ratios: P/E Ratio 15.5x · EV/EBITDA 3.5x · ROE 4.4%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.3B | $2.8B | $4.8B | $8.2B | $14.6B | $9.6B | $4.8B | $15.4B | $22.5B | $17.1B | $16.6B |
| Enterprise Value | $11.2B | $82.5B | $94.6B | $93.0B | $90.9B | $95.2B | $175.6B | $138.2B | $116.9B | $73.6B | $46.7B |
| P/E Ratio → | 15.46 | 0.42 | — | 0.95 | 0.38 | 1.07 | — | 4.55 | 2.58 | 0.84 | 1.25 |
| P/S Ratio | 0.41 | 0.01 | 0.02 | 0.03 | 0.05 | 0.05 | 0.03 | 0.08 | 0.12 | 0.10 | 0.10 |
| P/B Ratio | 0.66 | 0.02 | 0.03 | 0.04 | 0.08 | 0.06 | 0.03 | 0.07 | 0.10 | 0.08 | 0.08 |
| P/FCF | 7.99 | 0.22 | 0.66 | 0.44 | 0.85 | 0.54 | — | — | — | — | — |
| P/OCF | 2.69 | 0.07 | 0.13 | 0.17 | 0.36 | 0.28 | 0.16 | 0.37 | 0.67 | 0.46 | 0.37 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.33 | 0.34 | 0.32 | 0.33 | 0.47 | 0.92 | 0.68 | 0.64 | 0.43 | 0.27 |
| EV / EBITDA | 3.48 | 1.57 | 1.54 | 1.36 | 1.34 | 1.98 | 5.61 | 3.07 | 2.66 | 1.49 | 0.90 |
| EV / EBIT | 4.75 | 3.81 | 2.12 | 1.84 | 3.54 | 7.15 | 6.13 | 4.99 | 3.55 | 2.07 | 0.97 |
| EV / FCF | — | 6.39 | 12.94 | 5.04 | 5.30 | 5.38 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.5% | 42.5% | 44.2% | 42.2% | 49.7% | 51.7% | 47.2% | 50.5% | 52.7% | 53.5% | 53.9% |
| Operating Margin | 15.4% | 15.4% | 17.5% | 18.8% | 18.5% | 12.7% | 7.0% | 14.1% | 15.3% | 19.1% | 20.6% |
| Net Profit Margin | 2.7% | 2.7% | -16.1% | 3.0% | 14.3% | 4.5% | -48.2% | 1.7% | 4.8% | 11.8% | 7.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.4% | 4.4% | -25.4% | 4.5% | 22.5% | 5.9% | -48.4% | 1.5% | 3.9% | 9.5% | 6.5% |
| ROA | 1.9% | 1.9% | -11.1% | 2.1% | 10.0% | 2.2% | -19.5% | 0.7% | 2.1% | 5.2% | 3.7% |
| ROIC | 12.2% | 12.2% | 13.8% | 14.7% | 14.9% | 6.8% | 3.0% | 6.4% | 7.0% | 9.6% | 12.3% |
| ROCE | 12.8% | 12.8% | 14.7% | 16.2% | 16.0% | 7.5% | 3.3% | 7.2% | 7.6% | 9.5% | 11.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.77 | 0.77 | 0.92 | 0.69 | 0.62 | 0.77 | 1.32 | 0.62 | 0.49 | 0.39 | 0.38 |
| Debt / EBITDA | 2.30 | 2.30 | 2.20 | 2.02 | 1.76 | 2.42 | 6.57 | 3.08 | 2.54 | 1.71 | 1.54 |
| Net Debt / Equity | — | 0.51 | 0.61 | 0.42 | 0.39 | 0.56 | 1.10 | 0.55 | 0.41 | 0.26 | 0.14 |
| Net Debt / EBITDA | 1.52 | 1.52 | 1.46 | 1.24 | 1.12 | 1.78 | 5.46 | 2.72 | 2.15 | 1.15 | 0.58 |
| Debt / FCF | — | 6.17 | 12.28 | 4.59 | 4.44 | 4.83 | — | — | — | — | — |
| Interest Coverage | 4.12 | 4.12 | 4.69 | — | — | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.87 | 1.87 | 2.33 | 1.52 | 1.44 | 1.83 | 1.91 | 1.59 | 1.36 | 1.69 | 2.60 |
| Quick Ratio | 1.27 | 1.27 | 1.58 | 1.04 | 0.99 | 1.31 | 1.61 | 0.99 | 0.87 | 1.20 | 2.03 |
| Cash Ratio | 0.67 | 0.67 | 0.87 | 0.61 | 0.47 | 0.54 | 0.37 | 0.34 | 0.29 | 0.53 | 1.20 |
| Asset Turnover | — | 0.69 | 0.75 | 0.67 | 0.65 | 0.56 | 0.40 | 0.44 | 0.41 | 0.43 | 0.44 |
| Inventory Turnover | 3.43 | 3.43 | 3.77 | 3.97 | 3.34 | 3.28 | 3.62 | 3.40 | 2.92 | 3.16 | 3.35 |
| Days Sales Outstanding | — | 61.02 | 36.41 | 40.72 | 31.37 | 32.37 | 54.79 | 42.88 | 42.72 | 44.72 | 45.52 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 100.0% | 0.6% | 0.3% | 0.3% | 100.0% | 51.6% | 42.7% | 62.4% | 76.9% |
| Payout Ratio | — | — | — | 0.6% | 0.1% | 0.3% | — | 234.6% | 110.2% | 52.4% | 96.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.5% | 238.9% | — | 105.2% | 266.1% | 93.9% | — | 22.0% | 38.8% | 119.0% | 79.9% |
| FCF Yield | 12.5% | 455.4% | 151.8% | 225.2% | 117.2% | 184.1% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 100.0% | 0.6% | 0.3% | 0.3% | 100.0% | 51.6% | 42.7% | 62.4% | 76.9% |
| Shares Outstanding | — | $641M | $633M | $662M | $635M | $628M | $618M | $620M | $616M | $612M | $611M |
Commodity and currency volatility
Based on reported figures, Sasol trades at a P/S of 0.40 and an EV/EBITDA of 3.43, suggesting that the market is heavily discounting the company's future earnings potential relative to its historical averages and broader chemical sector peers.
The low valuation multiples appear to be a direct consequence of the persistent earnings volatility and the significant 'South Africa discount' applied by global investors. While the forward EV/EBITDA of 0.22 may imply an expectation of recovery, it likely reflects the market's skepticism regarding the company's ability to sustain margins amidst ongoing operational and regulatory headwinds.
As reported in financial statements, Sasol's ROIC has trended downward from 9.1% in 2022Q4 to 5.4% in 2026Q2, indicating a clear decay in the company's ability to generate adequate returns on its massive, capital-intensive asset base.
The decline in ROIC suggests that the high capital expenditure required to maintain the Secunda complex and other facilities is not being matched by proportional growth in operating income. Investors should monitor whether this trend continues, as it may indicate that the company is struggling to achieve a cost of capital that justifies its current investment strategy.
According to quarterly data, the cash conversion cycle has fluctuated significantly, reaching 124 days in 2026Q2, which highlights the company's struggle to optimize its inventory and collection processes in a volatile commodity environment.
The elevated days inventory outstanding (DIO) of 172 days suggests that Sasol is carrying substantial inventory, which ties up critical liquidity and exposes the firm to commodity price fluctuations. This inefficiency, combined with a lengthy DSO, indicates that the company lacks the leverage to dictate terms to its customers or streamline its supply chain effectively.
The P/E ratio is frequently misapplied to Sasol's business model, as reported in financial filings, because it fails to account for the massive, non-recurring impairment charges that frequently distort net income and obscure the underlying operational cash generation.
Analysts should prioritize EV/EBITDA or free cash flow metrics over P/E, as these provide a clearer picture of the company's ability to service its debt and fund operations without the noise of accounting-driven write-downs. Relying on P/E in this context may lead to an inaccurate assessment of the firm's true earning power and valuation.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SSL stock.
Sasol Limited's current P/E ratio is 15.5x. The historical average is 1.5x. This places it at the 100th percentile of its historical range.
Sasol Limited's current EV/EBITDA is 3.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.4x.
Sasol Limited's return on equity (ROE) is 4.4%. The historical average is 14.8%.
Based on historical data, Sasol Limited is trading at a P/E of 15.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Sasol Limited has 42.5% gross margin and 15.4% operating margin. Operating margin between 10-20% is typical for established companies.
Sasol Limited's Debt/EBITDA ratio is 2.3x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.