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MKT CAP:$8B

Sasol Limited

Market Cap

$8B

Basic Materials·Chemicals - Specialty·🇿🇦 South Africa·NYSE

Materials·Chemicals·🇿🇦·NYSE

Stock Price

$12.88+$6.22 (+93.39%)

Apr 23, 2026

Company Details

Sasol Limited, together with its subsidiaries, operates as an integrated chemical and energy company in South Africa. The company operates through six segments: Mining, Gas, Fuels, Chemicals Africa, Chemicals America, and Chemicals Eurasia....

CEO

Simon Baloyi

IPO Date

Apr 26, 1982

Website

www.sasol.com

Key Metrics TTM

Revenue

$30.4B

-12.5% YoY

Net Income

-$2.8B

EPS (Diluted)

-$4.46

Free Cash Flow

$1.7B

Revenue / Share

$46.89

Gross Margin

36.1%

Operating Margin

16.8%

Net Margin

-9.3%

FCF Margin

5.5%

P/S

0.3x

P/E

—

Earnings Reports

Q2 2026

Dec 30, 2025

$7.0B-4.5%EPS $0.02

Q4 2025

Jun 29, 2025

$7.7B-8.5%EPS $0.20

Q2 2025

Dec 31, 2024

$7.4B-10.4%EPS $0.43

FY 2024

Sep 6, 2024

$16.6B-5.0%EPS -$4.22

Q4 2024

Sep 6, 2024

$8.4B+0.6%EPS -$5.12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 18	$5.6B	$2.9B	$679M
Q2 19	$6.2B	$3.2B	$1.1B
Q4 19	$6.1B	$3.0B	$581M
Q2 20	$6.0B	$2.9B	$577M
Q4 20	$5.5B	$2.5B	$227M
Q2 21	$5.6B	$2.7B	$866M
Q4 21	$6.6B	$3.6B	$730M
Q2 22	$7.2B	$3.5B	$1.1B
Q4 22	$9.2B	$4.7B	$2.0B
Q2 23	$9.0B	$3.7B	$1.8B
Q4 23	$8.3B	$3.7B	$1.6B
Q2 24	$8.2B	$3.4B	$1.2B
Q4 24	$8.4B	$3.9B	$1.6B
Q2 25	$7.4B	$3.1B	$950M
Q4 25	$7.7B	$2.3B	$1.5B
Q2 26	$7.0B	$1.8B	$1.1B

Valuation

Quarter	P/S	P/E
Q4 18	0.4x	4.7x
Q2 19	0.4x	3.9x
Q4 19	0.4x	10.4x
Q2 20	0.3x	13.4x
Q4 20	0.3x	—
Q2 21	0.4x	—
Q4 21	0.3x	—
Q2 22	0.3x	—
Q4 22	0.3x	2.8x
Q2 23	0.3x	2.8x
Q4 23	0.2x	2.8x
Q2 24	0.2x	3.2x
Q4 24	0.2x	—
Q2 25	0.3x	—
Q4 25	0.3x	—
Q2 26	0.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 18	$1.5B	-$93M
Q2 19	$1.4B	-$467M
Q4 19	$1.2B	-$371M
Q2 20	$807M	-$487M
Q4 20	$989M	$162M
Q2 21	$432M	-$21M
Q4 21	$1.6B	$1.1B
Q2 22	$959M	$341M
Q4 22	$1.5B	$694M
Q2 23	$813M	-$165M
Q4 23	$2.2B	$1.3B
Q2 24	$540M	-$418M
Q4 24	$1.7B	$859M
Q2 25	$837M	-$68M
Q4 25	$1.5B	$839M
Q2 26	$543M	$47M

Capital Expenditures

Quarter	CapEx
Q4 18	$1.5B
Q2 19	$1.8B
Q4 19	$1.5B
Q2 20	$1.3B
Q4 20	$827M
Q2 21	$453M
Q4 21	$535M
Q2 22	$618M
Q4 22	$779M
Q2 23	$978M
Q4 23	$869M
Q2 24	$958M
Q4 24	$857M
Q2 25	$905M
Q4 25	$638M
Q2 26	$496M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 18	+5.5%	+11.3%
Q2 19	+21.3%	+19.4%
Q4 19	+15.0%	+35.0%
Q2 20	+12.5%	+25.0%
Q4 20	-2.3%	+6.6%
Q2 21	-10.7%	-7.7%
Q4 21	+9.3%	+7.5%
Q2 22	+20.9%	+14.2%
Q4 22	+67.6%	+37.4%
Q2 23	+62.9%	+55.1%
Q4 23	+25.5%	+14.6%
Q2 24	+13.7%	+14.2%
Q4 24	-9.2%	-6.4%
Q2 25	-18.5%	-11.6%
Q4 25	-7.9%	-8.8%
Q2 26	-14.5%	-15.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 18	$267M	4.7%
Q2 19	$0	0.0%
Q4 19	$74M	1.2%
Q2 20	$0	0.0%
Q4 20	$117M	2.1%
Q2 21	$52M	0.9%
Q4 21	$65M	1.0%
Q2 22	$36M	0.5%
Q4 22	$34M	0.4%
Q2 23	$34M	0.4%
Q4 23	$28M	0.3%
Q2 24	$28M	0.3%
Q4 24	$31M	0.4%
Q2 25	$31M	0.4%
Q4 25	$0	0.0%
Q2 26	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q4 18	$937M	$222M	—
Q2 19	$903M	$229M	—
Q4 19	$1.1B	$244M	—
Q2 20	$1.0B	$231M	—
Q4 20	$876M	$275M	—
Q2 21	$877M	$249M	—
Q4 21	$1.1B	$235M	—
Q2 22	$978M	$247M	—
Q4 22	$983M	$277M	—
Q2 23	$989M	$293M	—
Q4 23	$1.0B	$339M	—
Q2 24	$1.1B	$306M	—
Q4 24	$1.1B	$321M	—
Q2 25	$1.1B	$284M	—
Q4 25	$941M	—	—
Q2 26	—	—	$710M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 18	$1.0B	$5M	$1.0B
Q2 19	$958M	$0	$958M
Q4 19	$958M	$0	$958M
Q2 20	$765M	$0	$765M
Q4 20	$2.1B	$0	$2.1B
Q2 21	$1.7B	$0	$1.7B
Q4 21	$1.9B	$0	$1.9B
Q2 22	$1.9B	$0	$1.9B
Q4 22	$2.6B	$0	$2.6B
Q2 23	$2.1B	$0	$2.1B
Q4 23	$3.3B	$0	$3.3B
Q2 24	$2.4B	$0	$2.4B
Q4 24	$2.7B	$131M	$2.9B
Q2 25	$2.2B	$0	$2.2B
Q4 25	$2.5B	$339M	$2.8B
Q2 26	$2.0B	$397M	$2.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 18	618M	+0.7%	+1.2%
Q2 19	621M	+0.4%	+1.6%
Q4 19	620M	-0.1%	+1.0%
Q2 20	621M	+0.1%	+1.1%
Q4 20	618M	-0.4%	-0.0%
Q2 21	622M	+0.7%	+0.3%
Q4 21	633M	+1.8%	+2.1%
Q2 22	633M	-0.1%	+1.9%
Q4 22	637M	+0.8%	+3.1%
Q2 23	638M	+0.1%	+2.5%
Q4 23	686M	+7.5%	+8.3%
Q2 24	706M	+2.9%	+11.6%
Q4 24	635M	-10.0%	-0.3%
Q2 25	641M	+0.9%	+0.4%
Q4 25	649M	+1.4%	-5.3%
Q2 26	649M	+0.0%	-8.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 18	$180.1K	31K
Q2 19	$198.7K	31K
Q4 19	$193.2K	31K
Q2 20	$190.4K	31K
Q4 20	$177.5K	31K
Q2 21	$179.0K	31K
Q4 21	$229.2K	29K
Q2 22	$250.0K	29K
Q4 22	$322.2K	29K
Q2 23	$315.7K	29K
Q4 23	$286.3K	29K
Q2 24	$282.9K	29K
Q4 24	$297.7K	28K
Q2 25	$261.8K	28K
Q4 25	$279.6K	27K
Q2 26	$256.7K	27K

Revenue / Employee