Sasol Limited SSL

MaterialsChemicalsSouth Africa

Last close 17.22 USD on Nov 1, 2026, +164.5% year to date

Quant rating

Quant rating B Rank 60 of 220 in Materials

Growth C 151 of 220
Valuation A 32 of 220
Quality D 186 of 220
Revisions B 60 of 220
Momentum A 7 of 220

Wall Street consensus Strong Buy (1.00)Average target 19.75 USD +14.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 11.3B
Enterprise value: 15.7B
52-week range: 5.97 – 18.19
3-year range: 2.93 – 18.19
Dividend yield: –
Beta (5 years): 0.21
Shares outstanding: 654M
Next earnings: Feb 22, 2027

About the company

Sasol Limited is a South Africa-based company, which is a global chemical and energy company. The Company operates in two divisions: Chemical and Energy. Its Energy business operates in three segments Mining, Fuel and Gas. The Mining segment is responsible for securing coal feedstock for the Southern African value chain, mainly for gasification, but also to generate electricity and steam. The Gas segment reflects the upstream feedstock, transport of gas through the Republic of Mozambique Pipeline Investments Company (ROMPCO) pipeline, and external natural and methane rich gas sales. The Fuels segment comprises the sales and marketing of liquid fuels produced in South Africa. The Chemical products are grouped into Advanced Materials, Base Chemicals, Essential Care Chemicals and Performance Solutions.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	16,604	14,038	15,128	15,388	16,762	–
Revenue growth	18.3%	−7.2%	−1.7%	−8.2%	18.4%	3.2%
EPS (basic, normalized)	2.24	1.92	0.90	2.86	3.08	–
EPS growth	16.4%	114.9%	−68.7%	−7.2%	–	–
Gross margin	49.3%	48.2%	49.9%	47.4%	54.5%	49.9%
Net margin	4.5%	2.7%	−16.1%	3.0%	14.3%	1.7%
ROE	7.7%	4.6%	−26.0%	4.6%	23.2%	2.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	16,604	+18.3%	0.9x	3,595	+22.6%	4.4x	2.24	+16.4%	7.7x
2027	17,792	+7.2%	0.9x	5,346	+48.7%	2.9x	3.57	+59.5%	4.8x
2028	16,811	−5.5%	0.9x	4,561	−14.7%	3.4x	2.88	−19.3%	6.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	17,792	+3.0%	+17.2%	+13.6%	3.57	+18.2%	+115.1%	+58.0%
2028	16,811	−0.9%	–	–	2.88	+3.2%	–	–
2029	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Chemicals

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SSL Sasol Limited	11.3B	–	4.5%	1.13x	4.8x	6.0x	2.9x	3.4x
SHW Sherwin-Williams Co	80.4B	2.50x	10.9%	20.21x	27.6x	25.1x	18.9x	17.8x
ECL Ecolab Inc.	85.0B	3.22x	12.9%	8.15x	37.1x	32.3x	22.2x	19.8x
APD Air Products and Chemicals, Inc.	70.5B	3.82x	−3.2%	5.08x	23.6x	22.0x	16.4x	15.4x
NTR Nutrien Ltd	33.1B	2.03x	8.4%	1.28x	14.0x	13.6x	7.1x	7.1x
BASFn BASF SE	53.2B	2.60x	2.4%	1.29x	16.9x	17.5x	8.6x	8.5x
Mean		2.84x	6.0%	6.19x	20.7x	19.4x	12.7x	12.0x
Median		2.60x	6.4%	3.18x	20.2x	19.7x	12.5x	11.9x

Technical analysis

1M+23.6%
3M+57.0%
1Y+172.9%
3Y+33.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Sasol Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	16,604	14,038	15,128	15,388	16,762	14,152
Cost of revenue	8,423	7,278	7,586	8,090	7,620	5,983
Gross profit	8,182	6,760	7,542	7,298	9,141	8,168
Selling, general & administrative expenses	3,724	3,400	3,382	3,151	3,344	3,714
Research & development	0.1	16.8	2.6	47.8	0	21.1
Depreciation/amortization	830	789	860	876	865	1,237
Interest expense (income), operating	128	−154	−181	−459	891	−603
Unusual expense (income)	1,057	1,090	4,144	1,753	−609	1,627
Other operating expenses	876	558	835	786	875	1,008
Operating income	1,568	1,061	−1,502	1,143	3,774	1,165
Net interest income (expense)	−428	−357	−385	−364	−334	−381
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−3.8	−11.3	−11.2	−7.8	−27.5	−32.7
Net income before taxes	1,135	692	−1,897	771	3,413	751
Provision for taxes	253	257	536	275	852	13.0
Minority interest	−141	−54.0	−1.4	−28.4	−167	−105
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	741	381	−2,434	467	2,394	633
Extraordinary items	–	–	–	–	–	–
Net income	741	381	−2,434	467	2,394	633
EBIT, normalized	2,752	1,997	2,462	2,437	4,057	2,189
EBITDA, normalized	3,582	2,786	3,323	3,313	4,922	3,425
Basic EPS, normalized	2.24	1.92	0.90	2.86	3.08	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Sasol Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	2,833	2,482	2,557	2,814	2,513	2,295
Receivables	2,691	2,234	1,949	1,796	2,783	2,116
Total inventory	3,071	2,355	2,239	2,242	2,526	2,085
Prepaid expenses	125	112	85.4	133	130	130
Other current assets	188	148	133	144	158	0
Total current assets	8,908	7,332	6,963	7,129	8,110	6,626
Property, plant & equipment	9,646	9,573	9,675	12,597	14,377	14,783
Goodwill	–	–	–	–	–	–
Intangibles	153	132	135	169	188	174
Long-term investments	1,037	944	975	925	938	900
Note receivable	169	163	168	149	186	272
Other long-term assets	2,287	2,119	2,155	2,074	1,985	2,529
Total assets	22,200	20,262	20,070	23,044	25,783	25,284
Liabilities
Accounts payable	2,045	1,841	1,606	1,647	1,977	1,552
Payable/accrued	–	–	–	–	–	–
Accrued expenses	220	232	242	257	324	315
Short-term debt	77.2	37.6	37.8	12.6	15.7	21.2
Current portion of long-term debt	1,602	917	848	2,319	1,481	510
Other current liabilities	1,039	885	929	1,185	1,842	1,377
Total current liabilities	4,984	3,913	3,662	5,420	5,640	3,775
Long-term debt	5,099	5,846	6,546	5,136	5,947	7,783
Minority interest	426	292	243	245	281	419
Other liabilities	1,742	1,622	1,755	1,783	2,324	3,040
Total liabilities	12,250	11,672	12,206	12,585	14,192	15,017
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	603	557	544	525	608	693
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	6,472	5,254	4,706	7,256	8,638	7,038
Treasury stock	–	–	–	–	–	–
Other equity	2,874	2,779	2,614	2,678	2,346	2,536
Total equity	9,949	8,590	7,864	10,459	11,592	10,267
Total liabilities & shareholders' equity	22,200	20,262	20,070	23,044	25,783	25,284

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Sasol Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	195	327	−165	−434	192	−47.6
Cash from operations	1,982	2,159	1,636	1,882	2,474	2,312
Investing activities
Capital expenditures	−1,274	−1,432	−1,658	−1,639	−1,396	−1,118
Other investing cash flows	−49.8	−26.7	−27.4	139	469	2,877
Cash from investing	−1,323	−1,459	−1,686	−1,500	−927	1,759
Financing activities
Financing cash flow items	–	–	–	–	–	–
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−445	−936	−383	63.1	−919	−4,084
Cash from financing	−445	−936	−383	63.1	−919	−4,084
Foreign exchange effects	−83.2	−1.5	−34.8	129	108	−204
Net change in cash	130	−237	−468	574	736	−218
Free cash flow	708	727	−22.4	243	1,078	1,194

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.