AECI (AFE.JO) Stock Price

AECI Price

JSE·CLOSED
12,774.00ZAR+468.00 (+3.73 %)
Market closed

Revenue has compounded at 7.3% per year over the past 19 years to 33.60 B ZAR. Earnings per share have grown at 5.4% per year over the last 18 years. AECI's net margin stands at -0.8%, down from 0.6% several years earlier. AECI currently offers a dividend yield of about 0.01%. Analysts set a median price target of 123.93 ZAR, implying 99.0% below the current price. Of 5 analysts, 4 rate the stock a buy — an overall Buy consensus. The stock trades about 49% above its 52-week low.

AECI stock price

Volume
Ex-Dividend
Details

Stock Price

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How to Read This Chart

This chart tracks the historical stock price of AECI over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how AECI stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing AECI's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

AECI Stock Price History
DateAECI Price
8/6/202612,774.00 ZAR
8/5/202612,306.00 ZAR
8/4/202612,334.00 ZAR
7/31/202612,500.00 ZAR
7/30/202612,220.00 ZAR
7/29/202612,214.00 ZAR
7/28/202612,131.00 ZAR
7/27/202612,095.00 ZAR
7/24/202611,825.00 ZAR
7/23/202611,927.00 ZAR
7/22/202611,876.00 ZAR
7/21/202611,815.00 ZAR
7/20/202611,852.00 ZAR
7/17/202611,963.00 ZAR
7/16/202612,130.00 ZAR
7/15/202612,148.00 ZAR
7/14/202612,265.00 ZAR
7/13/202612,094.00 ZAR
7/10/202612,349.00 ZAR
7/9/202612,241.00 ZAR
7/8/202612,331.00 ZAR
7/7/202612,484.00 ZAR
7/6/202612,652.00 ZAR
7/3/202612,620.00 ZAR
7/2/202612,727.00 ZAR
7/1/202612,400.00 ZAR
6/30/202612,554.00 ZAR
6/29/202612,600.00 ZAR
6/26/202612,538.00 ZAR
6/25/202612,450.00 ZAR
6/24/202612,554.00 ZAR
6/23/202612,210.00 ZAR
6/22/202612,149.00 ZAR
6/19/202612,136.00 ZAR
6/18/202612,042.00 ZAR
6/17/202612,081.00 ZAR
6/15/202612,351.00 ZAR
6/12/202612,159.00 ZAR
6/11/202612,175.00 ZAR
6/10/202612,171.00 ZAR
6/9/202612,102.00 ZAR
6/8/202611,981.00 ZAR
6/5/202611,558.00 ZAR
6/4/202611,647.00 ZAR
6/3/202611,990.00 ZAR
6/2/202612,130.00 ZAR
6/1/202611,947.00 ZAR
5/29/202612,480.00 ZAR
5/28/202612,619.00 ZAR
5/27/202612,646.00 ZAR
5/26/202612,661.00 ZAR
5/25/202612,676.00 ZAR
5/22/202612,237.00 ZAR
5/21/202611,799.00 ZAR
5/20/202611,700.00 ZAR
5/19/202611,554.00 ZAR
5/18/202611,474.00 ZAR
5/15/202611,404.00 ZAR
5/14/202611,433.00 ZAR
5/13/202611,279.00 ZAR
5/12/202611,316.00 ZAR
5/11/202611,575.00 ZAR
5/8/202611,495.00 ZAR
5/7/202611,495.00 ZAR
5/6/202611,495.00 ZAR
5/5/202611,289.00 ZAR
5/4/202611,295.00 ZAR
4/30/202611,050.00 ZAR
4/29/202610,956.00 ZAR
4/28/202610,927.00 ZAR
4/24/202610,898.00 ZAR
4/23/202610,979.00 ZAR
4/22/202611,221.00 ZAR
4/21/202611,161.00 ZAR
4/20/202611,272.00 ZAR
4/17/202611,254.00 ZAR
4/16/202611,217.00 ZAR
4/15/202611,000.00 ZAR
4/14/202611,049.00 ZAR
4/13/202610,907.00 ZAR
4/10/202611,042.00 ZAR
4/9/202611,250.00 ZAR
4/8/202611,320.00 ZAR
4/7/202611,210.00 ZAR
4/2/202611,305.00 ZAR
4/1/202611,511.00 ZAR
3/31/202611,429.00 ZAR
3/30/202611,619.00 ZAR
3/27/202611,589.00 ZAR
3/26/202611,624.00 ZAR
3/25/202611,524.00 ZAR
3/24/202611,350.00 ZAR
3/23/202611,285.00 ZAR
3/20/202611,252.00 ZAR
3/19/202611,295.00 ZAR
3/18/202611,267.00 ZAR
3/17/202611,159.00 ZAR
3/16/202611,120.00 ZAR
3/13/202610,796.00 ZAR
3/12/202610,928.00 ZAR
3/11/202610,974.00 ZAR
3/10/202610,976.00 ZAR
3/9/202610,788.00 ZAR
3/6/202610,980.00 ZAR
3/5/202611,265.00 ZAR
3/4/202611,003.00 ZAR
3/3/202610,860.00 ZAR
3/2/202611,182.00 ZAR
2/27/202610,970.00 ZAR
2/26/202610,710.00 ZAR
2/25/202610,353.00 ZAR
2/24/202610,102.00 ZAR
2/23/202610,196.00 ZAR
2/20/20269,991.00 ZAR
2/19/202610,110.00 ZAR
2/18/202610,489.00 ZAR
2/17/202610,577.00 ZAR
2/16/202610,455.00 ZAR
2/13/20269,664.00 ZAR
2/12/20269,700.00 ZAR
2/11/20269,765.00 ZAR
2/10/20269,740.00 ZAR
2/9/20269,650.00 ZAR
2/6/20269,573.00 ZAR
2/5/20269,560.00 ZAR
2/4/20269,590.00 ZAR
2/3/20269,650.00 ZAR
2/2/20269,650.00 ZAR
1/30/20269,508.00 ZAR
1/29/20269,677.00 ZAR
1/28/20269,630.65 ZAR
1/27/20269,670.00 ZAR
1/26/20269,651.01 ZAR
1/23/20269,659.00 ZAR
1/22/20269,974.00 ZAR
1/21/20269,570.00 ZAR
1/20/20269,497.00 ZAR
1/19/20269,370.00 ZAR
1/16/20269,323.00 ZAR
1/15/20269,450.00 ZAR
1/14/20269,471.00 ZAR
1/13/20269,368.00 ZAR
1/12/20269,353.00 ZAR
1/9/20269,510.00 ZAR
1/8/20269,260.00 ZAR
1/7/20269,262.00 ZAR
1/6/20269,360.00 ZAR
1/5/20269,069.00 ZAR
1/2/20269,070.00 ZAR
12/31/20258,932.00 ZAR
12/30/20258,970.00 ZAR
12/29/20258,915.00 ZAR
12/24/20258,950.00 ZAR
12/23/20258,869.00 ZAR
12/22/20258,830.00 ZAR
12/19/20258,714.00 ZAR
12/18/20258,789.00 ZAR
12/17/20258,695.00 ZAR
12/15/20258,688.00 ZAR
12/12/20258,683.00 ZAR
12/11/20258,575.00 ZAR
12/10/20258,711.00 ZAR
12/9/20258,701.00 ZAR
12/8/20258,776.00 ZAR
12/5/20258,800.00 ZAR
12/4/20258,790.00 ZAR
12/3/20258,800.00 ZAR
12/2/20258,768.00 ZAR
12/1/20258,830.00 ZAR
11/28/20258,827.00 ZAR
11/27/20258,848.00 ZAR
11/26/20258,941.00 ZAR
11/25/20258,800.00 ZAR
11/24/20258,800.00 ZAR
11/21/20258,663.00 ZAR
11/20/20258,736.00 ZAR
11/19/20258,680.00 ZAR
11/18/20258,674.00 ZAR
11/17/20258,799.00 ZAR
11/14/20258,698.00 ZAR
11/13/20258,775.00 ZAR
11/12/20258,810.00 ZAR
11/11/20258,859.00 ZAR
11/10/20258,840.00 ZAR
11/7/20258,804.00 ZAR
11/6/20258,892.00 ZAR
11/5/20258,926.00 ZAR
11/4/20258,848.00 ZAR
11/3/20258,919.00 ZAR
10/31/20258,949.00 ZAR
10/30/20258,976.00 ZAR
10/29/20258,893.00 ZAR
10/28/20258,949.00 ZAR
10/27/20258,897.00 ZAR
10/24/20258,886.00 ZAR
10/23/20258,908.00 ZAR
10/22/20258,822.00 ZAR
10/21/20258,864.00 ZAR
10/20/20258,877.00 ZAR
10/17/20258,851.00 ZAR
10/16/20258,749.21 ZAR
10/15/20258,800.00 ZAR
10/14/20259,649.00 ZAR
10/13/20259,698.00 ZAR
10/10/20259,653.00 ZAR
10/9/20259,688.00 ZAR
10/8/20259,686.00 ZAR
10/7/20259,600.00 ZAR
10/6/20259,536.00 ZAR
10/3/20259,612.00 ZAR
10/2/20259,576.00 ZAR
10/1/20259,570.00 ZAR
9/30/20259,714.00 ZAR
9/29/20259,481.00 ZAR
9/26/20259,514.00 ZAR
9/25/20259,486.00 ZAR
9/23/20259,683.00 ZAR
9/22/202510,100.00 ZAR
9/19/202510,317.00 ZAR
9/18/202510,435.00 ZAR
9/17/202510,643.00 ZAR
9/16/202510,517.00 ZAR
9/15/202510,479.00 ZAR
9/12/202510,578.00 ZAR
9/11/202510,668.00 ZAR
9/10/202510,444.00 ZAR
9/9/202510,430.00 ZAR
9/8/202510,571.00 ZAR
9/5/202510,452.00 ZAR
9/4/202510,479.00 ZAR
9/3/202510,600.00 ZAR
9/2/202510,713.00 ZAR
9/1/202510,754.00 ZAR
8/29/202510,754.00 ZAR
8/28/202510,695.00 ZAR
8/27/202510,645.00 ZAR
8/26/202510,815.00 ZAR
8/25/202510,910.00 ZAR
8/22/202510,861.00 ZAR
8/21/202510,696.00 ZAR
8/20/202510,771.00 ZAR
8/19/202510,776.00 ZAR
8/18/202510,816.00 ZAR
8/15/202510,873.00 ZAR
8/14/202510,935.00 ZAR
8/13/202510,999.00 ZAR
8/12/202510,966.00 ZAR
8/11/202510,807.00 ZAR
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AECI Revenue, EBIT, Net Income

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2021
26.05 B ZAR
2.05 B ZAR
1.19 B ZAR
Jan 1, 2022
35.58 B ZAR
2.05 B ZAR
927.00 M ZAR
Jan 1, 2023
34.94 B ZAR
2.44 B ZAR
1.17 B ZAR
Jan 1, 2024
33.60 B ZAR
1.54 B ZAR
-283.00 M ZAR
Jan 1, 2025 (e)
34.25 B ZAR
2.32 B ZAR
1.26 B ZAR
Jan 1, 2026 (e)
35.82 B ZAR
2.42 B ZAR
1.74 B ZAR
Jan 1, 2027 (e)
36.62 B ZAR
2.48 B ZAR
2.11 B ZAR
Jan 1, 2028 (e)
39.05 B ZAR
2.64 B ZAR
2.44 B ZAR

AECI Income Statement, Balance Sheet, Cash Flow Statement

Last updated Aug 9, 2026, 9:03 PM
 
REVENUEB ZAR
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB ZAR
EBITB ZAR
EBIT MARGIN%
NET INCOMEB ZAR
NET INCOME GROWTH%
DIV.ZAR
DIV. GROWTH%
SHARESM
2013201420152016201720182019202020212022202320242025e2026e2027e2028e
15.9416.9018.4518.6018.4823.3124.8024.1126.0535.5834.9433.6034.2535.8236.6239.05
6.886.039.130.81-0.6126.146.37-2.778.0536.58-1.80-3.851.944.592.226.64
33.3832.1633.3932.4533.6533.4033.4833.0131.3027.6730.5232.0632.0632.0632.0632.06
5.325.446.166.046.227.798.307.968.169.8510.6710.7710.9811.4811.7412.52
1.401.601.701.341.582.002.030.922.052.052.441.542.322.422.482.64
8.779.449.237.188.548.578.193.807.885.756.994.606.766.766.766.76
0.951.101.010.780.950.991.290.131.190.931.17-0.281.261.742.112.44
50.1615.86-8.12-22.8422.274.2130.40-89.70792.48-21.9026.65-124.11-546.2937.8521.0215.99
2.903.257.253.954.384.895.225.146.506.996.802.383.193.193.19–
12.8412.07123.08-45.5210.8911.646.75-1.5326.467.54-2.72-65.0034.03–––
120.00117.92113.66107.97110.55108.97109.51109.98106.76106.11105.52105.52105.52105.52105.52105.52
Details

Income Statement Key Figures

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Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales AECI generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue AECI retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare AECI's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares AECI has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against AECI's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

AECI stock margins

The AECI margin analysis displays the gross margin, EBIT margin, as well as the profit margin of AECI. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for AECI.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2020
33.01 %
3.80 %
0.55 %
Jan 1, 2021
31.30 %
7.88 %
4.56 %
Jan 1, 2022
27.67 %
5.75 %
2.61 %
Jan 1, 2023
30.52 %
6.99 %
3.36 %
Jan 1, 2024
32.06 %
4.60 %
-0.84 %
Jan 1, 2025 (e)
32.06 %
6.76 %
3.69 %
Jan 1, 2026 (e)
32.06 %
6.76 %
4.86 %
Jan 1, 2027 (e)
32.06 %
6.76 %
5.75 %

AECI Stock Revenue, EBIT, Earnings per Share

The AECI earnings per share therefore indicates how much revenue AECI has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2020
219.24 ZAR
8.34 ZAR
1.21 ZAR
Jan 1, 2021
244.04 ZAR
19.22 ZAR
11.12 ZAR
Jan 1, 2022
335.35 ZAR
19.29 ZAR
8.74 ZAR
Jan 1, 2023
331.15 ZAR
23.16 ZAR
11.13 ZAR
Jan 1, 2024
318.41 ZAR
14.63 ZAR
-2.68 ZAR
Jan 1, 2025 (e)
324.60 ZAR
21.95 ZAR
11.97 ZAR
Jan 1, 2026 (e)
339.49 ZAR
22.96 ZAR
16.50 ZAR
Jan 1, 2027 (e)
347.01 ZAR
23.47 ZAR
19.97 ZAR

AECI business model & stock analysis

AECI Ltd is a South African company that was originally involved in mining but has diversified over the years to become a conglomerate operating in various industries. The company was founded in 1924 and is headquartered in Sandton, Johannesburg. The company started as African Explosives and Chemical Industries Limited, focusing on the production of explosives for the mining industry. Over the years, AECI expanded into other areas including chemicals, water treatment, and crop protection. In the 1990s, AECI established its own investment division and began investing in other companies operating in its diversified business segments. AECI operates through four main business segments: Mining Solutions, Water, Chemicals, and Property. The company produces and markets a variety of products and services within these areas. AECI continually seeks to optimize its business segments to gain competitive advantages and drive growth. Mining Solutions is one of AECI's largest business segments, offering products and services that cater to the needs of the mining industry in Africa. This includes high-quality explosives, accessories, and blasting services. The company also provides drilling equipment, grouting equipment, and solutions for optimizing mining operations. Water is a scarce resource but also an essential need for people to live. AECI's Water segment offers a wide range of products and services tailored to the needs of industry, commerce, and households. This includes water treatment, filtration media, water treatment chemicals, and technologies related to water treatment and recycling. In the Chemicals segment, AECI produces a wide range of chemical products such as furfuryl alcohol, organic pigments, specialty chemicals, polymers, and metal chemicals. These chemicals are used in various industries including construction, automotive, printing, paper manufacturing, textile production, and electronics. AECI also had extensive securities and assets, which it consolidated under the Property segment. These assets include industrial and commercial properties in the southern part of Johannesburg that are leased and managed by AECI. Innovation and sustainability are central to AECI. The company pursues sustainable business practices and strives to offer its products and services in an environmentally and resource-friendly manner. In conclusion, AECI has undergone continuous growth and significant transformation over the past decades. It is now a diversified conglomerate with a wide portfolio of products and services across different industries, including mining, water, chemicals, and property. AECI has a long history of innovation and sustainability to gain competitive advantages in the various industries it operates in. This commitment to excellence has helped establish AECI as one of the leading companies in South Africa and the African continent as a whole.

AECI SWOT Analysis

Strengths

AECI Ltd has several strengths that contribute to its competitive advantage in the market. These strengths include:

  • Strong market position: AECI Ltd has established itself as a leading company in the industry, with a significant market share and a wide customer base.
  • Diverse product portfolio: The company offers a diverse range of products, including chemicals, fertilizers, and explosives, catering to different industries and market segments.
  • Robust research and development capabilities: AECI Ltd invests in R&D activities to develop innovative products and solutions, enhancing its ability to meet specific customer needs.
  • Strong brand reputation: The company has built a strong brand reputation over the years, known for its quality products and reliable customer service.
  • Well-established distribution network: AECI Ltd has a widespread and efficient distribution network, ensuring timely delivery of products to customers across various regions.

Weaknesses

Despite its strengths, AECI Ltd also faces certain weaknesses that may hinder its growth and performance. These weaknesses include:

  • High dependency on the South African market: A significant portion of AECI Ltd's revenue is generated from the South African market, making the company vulnerable to economic fluctuations and regulatory changes in the country.
  • Reliance on external suppliers: AECI Ltd relies on external suppliers for raw materials, which exposes the company to supply chain risks and potential price fluctuations.
  • Limited geographic presence: Although the company operates internationally, its geographic presence is not as widespread as some of its competitors, limiting its market reach and growth opportunities in certain regions.

Opportunities

AECI Ltd can leverage various opportunities to expand its business and increase its market share. These opportunities include:

  • Emerging markets: The company can target emerging markets with growing industrial sectors, such as Asia and Africa, to diversify its revenue streams.
  • Increasing demand for sustainable solutions: AECI Ltd can capitalize on the rising demand for environmentally friendly and sustainable products by developing and promoting eco-friendly alternatives.
  • Strategic partnerships and acquisitions: The company can explore strategic partnerships and acquisitions to enhance its capabilities, enter new markets, and expand its product portfolio.

Threats

AECI Ltd faces certain threats that could negatively impact its business operations and financial performance. These threats include:

  • Intense competition: The industry is highly competitive, with both domestic and international players vying for market share, which may put pressure on pricing and margins.
  • Regulatory and environmental challenges: Compliance with stringent regulations and environmental standards can increase costs and pose challenges to the company's operations.
  • Volatility in raw material prices: Sudden fluctuations in the prices of raw materials can impact AECI Ltd's profitability and ability to offer competitive pricing.
  • Global economic uncertainties: Economic uncertainties, such as recessions or geopolitical tensions, can affect the demand for AECI Ltd's products and overall market conditions.

AECI Eulerpool Fair Value

Details

Fair Value Estimate

ⓘ

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

AECI historical P/E ratio, EBIT multiple, and P/S ratio

AECI annual returns

Details

Annual Return

ⓘ

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

AECI shares outstanding

The number of shares of AECI was 105.52 M in 2025. This indicates how many shares AECI is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2020
109.98 M Stocks
Jan 1, 2021
106.76 M Stocks
Jan 1, 2022
106.11 M Stocks
Jan 1, 2023
105.52 M Stocks
Jan 1, 2024
105.52 M Stocks
Jan 1, 2025 (e)
105.52 M Stocks
Jan 1, 2026 (e)
105.52 M Stocks
Jan 1, 2027 (e)
105.52 M Stocks

AECI stock splits

In AECI's history, there have been no stock splits.

AECI Dividend History

36 years of dividend payments

YearAnnual DividendYoY ChangePayments
20253.19ZAR↑ 168.1%2×
Apr 9, 20252.19ZAR↑ 84.0%1/2
Aug 27, 20251.00ZAR↓ 54.3%2/2
20241.19ZAR↓ 82.5%1×
20236.80ZAR↓ 2.7%2×
20226.99ZAR↑ 7.5%2×
20216.50ZAR↑ 26.5%2×
20205.14ZAR↓ 1.5%2×
20195.22ZAR↑ 6.7%2×
20184.89ZAR↑ 11.6%2×
20174.38ZAR↑ 10.9%2×
20163.95ZAR↓ 45.5%2×

AECI dividend history and estimates

In 2025, AECI paid a dividend amounting to 3.19 ZAR. Dividend means that AECI distributes a portion of its profits to its owners.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Dividend
Dividend (Estimate)
Special dividend
Details
Date
Dividend
Dividend (Estimate)
Special dividend
Jan 1, 2020
5.14 ZAR
0.00 ZAR
0.00 ZAR
Jan 1, 2021
6.50 ZAR
0.00 ZAR
0.00 ZAR
Jan 1, 2022
6.99 ZAR
0.00 ZAR
0.00 ZAR
Jan 1, 2023
6.80 ZAR
0.00 ZAR
0.00 ZAR
Jan 1, 2024 (e)
1.19 ZAR
1.19 ZAR
0.00 ZAR
Jan 1, 2025
3.19 ZAR
0.00 ZAR
0.00 ZAR
Jan 1, 2026 (e)
0.00 ZAR
3.19 ZAR
0.00 ZAR
Jan 1, 2027 (e)
0.00 ZAR
3.19 ZAR
0.00 ZAR

AECI dividend payout ratio

In 2025, AECI had a payout ratio of 26.65%. The payout ratio indicates the percentage of the company's profits that AECI distributes as dividends.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2020
425.00 %
Jan 1, 2021
58.46 %
Jan 1, 2022
80.01 %
Jan 1, 2023
61.15 %
Jan 1, 2024
-44.40 %
Jan 1, 2025 (e)
26.65 %
Jan 1, 2026 (e)
19.33 %
Jan 1, 2027 (e)
15.97 %

Current AECI forecasts and price targets in August 2026

Analyst Price Targets 2026
Δ MOM Price Target
0.00 %
Buy
80.00 % (4)
Hold
20.00 % (1)
Sell
0.00 % (0)
12M Price Target
123.93
Last Price
12,490.00
Currency
ZAR
12M Return Potential
-99.01 %
LTM Return
0 %

EESG©

Eulerpool ESG Scorecard© for the AECI stock

76/100
61
Environment
88
Social
79
Governance
E

Environment

20
Scope 1 - Direct Emissions213,711
Scope 2 - Indirect emissions from purchased energy226,177
Scope 3 - Indirect emissions within the value chain1,533,299
Total CO₂ emissions439,888
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather—
Pesticides
Palm Oil—
Tobacco
Genetically modified organisms
Climate concept—
Sustainable forestry—
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees24.718
Percentage of women in management—
Percentage of Asian employees—
Share of Asian management—
Percentage of Hispanic/Latino employees—
Hispano/Latino Management share—
Percentage of Black employees—
Black Management Share—
Percentage of white employees—
White Management Share—
Adult content
Alcohol
Weapons—
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept—
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

AECI shareholder structure

% Name
19.68600%
Public Investment Corporation (SOC) Limited
Public Investment Corporation (SOC) Limited
5.15000%
Truffle Asset Management (Pty) Limited
Truffle Asset Management (Pty) Limited
1.72765%
BlackRock Institutional Trust Company, N.A.
BlackRock Institutional Trust Company, N.A.
0.44557%
American Century Investment Management, Inc.
American Century Investment Management, Inc.
0.42409%
Old Mutual Investment Group (South Africa) (Pty) Limited
Old Mutual Investment Group (South Africa) (Pty) Limited
0.31523%
Thrivent Asset Management, LLC
Thrivent Asset Management, LLC

AECI Beneficial Ownership Filings (SEC 13D/G)

Free Float
99.9%
Float Shares
-
Shares Outstanding
-

AECI Executives and Management Board

14 members · avg. age 57 · 43 % women

CS

Ms. Cheryl Singh (46)

General Counsel, Group Company Secretary

7.94 M ZAR

Management

HR

Mr. Holger Riemensperger (53)

Group Chief Executive Officer, Executive Director · since 2023

–
RG

Ms. Rochelle Gabriels

Group Chief Financial Officer, Group Executive Director · since 2023

–
JM

Mr. John Mahlase (61)

Acting Group Executive - Human Capital

–

Board of Directors

DM

Mr. Dean Mulqueeny (56)

Member of the Executive Board

9.65 M ZAR
DM

Mr. Dean Murray (54)

Member of the Executive Board

9.44 M ZAR
KM

Dr. Khotso Mokhele (67)

Independent Non-Executive Chairman of the Board

2.41 M ZAR
WD

Mr. Walter Dissinger (60)

Independent Non-Executive Director

2.07 M ZAR
SD

Mr. Stephen Dawson (58)

Independent Non-Executive Director

2.00 M ZAR
PO

Ms. Patricia O'Brien (57)

Independent Non-Executive Director

1.77 M ZAR

Frequently asked questions about AECI

AECI Ltd operates with a diversified business model. The company primarily focuses on offering innovative solutions in the fields of specialty chemicals, explosives and specialty mining chemicals, plant and animal health, as well as water treatment to various industries. AECI Ltd aims to consistently deliver exceptional products and services that cater to the unique needs of its customers. With a strong emphasis on research and development, AECI Ltd strives to maintain its position as a leading provider of integrated chemical solutions globally.

AECI Ltd is primarily active in the chemical and mining industries.

Some of the main competitors of AECI Ltd in the market include Sasol Limited, Omnia Holdings Limited, and Epp Industries (Pty) Ltd.

AECI Ltd is a renowned company that specializes in providing diverse chemical products and services globally. Founded in 1924 in South Africa, AECI has grown to become a trusted name in the chemical industry. With a rich history spanning nearly a century, AECI has continuously adapted and evolved, keeping pace with market demands. The company has expanded its operations across various sectors, including explosives, mining, water, agricultural, and more. AECI's commitment to innovation, safety, and sustainability has cemented its position as a leader in the chemical industry. Today, it continues to thrive, delivering high-quality solutions to a wide range of customers worldwide.

AECI Ltd has achieved several significant milestones throughout its history. The company has successfully expanded its operations globally, becoming a leading provider of specialty chemicals and explosives. AECI has also demonstrated a strong commitment to innovation, continuously investing in research and development to enhance its product offerings. Additionally, the company has strategically pursued mergers and acquisitions, strengthening its market presence and diversifying its business portfolio. AECI has consistently delivered strong financial performance, reflecting its focus on efficient operations and customer satisfaction. Overall, AECI Ltd has achieved remarkable growth and success, solidifying its position as a prominent player in the industry.

AECI Ltd is primarily present in South Africa.

AECI Ltd represents a strong commitment to integrity, innovation, and sustainable growth. With a corporate philosophy focused on delivering value to its stakeholders, AECI embraces ethical business practices and strives to maintain long-term relationships with its customers, employees, and communities. The company's core values include excellence, customer-centricity, and a proactive approach towards environmental and social responsibilities. By consistently applying these principles, AECI aims to remain a leading provider of specialty chemicals, mining solutions, and water treatment technologies. Through continuous advancement, AECI Ltd aims to contribute positively to the industries it operates in while enhancing shareholder value.

Analysts currently set an average price target of 123.93 ZAR for the AECI stock (median: 123.93 ZAR), implying -99.0 % versus the latest price. The consensus is based on 5 analyst ratings.

AECI Analyst Price Targets 2026

5 analysts currently rate the AECI stock: 4 recommend buying, 1 holding and 0 selling. For 2026, analysts expect AECI to generate revenue of 35.82 B ZAR and earnings per share of 16.50 ZAR.

AECI Analyst Price Targets 2026

Converted at the current exchange rate, the AECI share trades at 683.66 EUR (12,774.00 ZAR).

The AECI share (AFE.JO) is listed on 2 stock exchanges, including: Frankfurt (A7Z.F).

The South African company AECI Ltd is a diversified company that operates in various sectors. It was founded in 1924 and is headquartered in Johannesburg. AECI has become a significant market player in the mining, chemicals, and explosives sectors. AECI's divisions include chemicals, explosives, mine services, water technology, and specialty chemicals. The chemicals division is the largest, offering a wide range of chemical products, including pigments, dyes, food additives, and polymers. The explosives division is also a major business for AECI, providing a broad range of explosives for mining and construction applications. AECI's mine services division, called AEL Mining Services, offers both explosives and drilling systems for the mining industry. In the water technology sector, AECI provides solutions for water treatment, irrigation, and industrial purposes. This segment is expected to grow in the coming years, particularly in emerging countries with increasing demand for clean water. AECI's specialty chemicals division offers a wide range of products for the paper, textile, cosmetics, food, and paint industries. AECI takes pride in offering innovative products and solutions to help customers achieve their goals, especially in the mining industry. This includes improved efficiency, safety, and environmental friendliness. AECI has also set ambitious sustainability goals, including reducing energy consumption, addressing climate change, and promoting a circular economy. AECI operates a total of 94 locations worldwide and employs over 6,000 people. The company is listed on the Johannesburg Stock Exchange and reported a revenue of 24.2 billion South African Rand (approximately 1.36 billion Euros) in 2020. AECI is a major player in the South African mining sector and operates internationally, particularly in other African countries as well as Australia, South America, and Asia. Overall, AECI's business model is focused on offering innovative products and solutions to meet the needs of customers in various sectors, including mining, chemicals, and environmental technology. The company is committed to promoting sustainable practices and a circular economy to minimize its global footprint.

The expected revenue of AECI is 35.82 B ZAR. This figure is based on current financial data and reflects the company's business performance.

The expected profit of AECI is 1.74 B ZAR. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of AECI is currently 774.18. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the AECI stock.

The price-to-sales ratio (P/S) of AECI is currently 37.63. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the AECI stock.

The Eulerpool Quality Score for AECI is 3/10.

The ISIN of AECI is ZAE000000220. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The WKN of AECI is 863727. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.

The ticker of AECI is AFE.JO. The ticker symbol is used to trade AECI shares on the stock exchange.

Over the past 12 months, AECI paid a dividend of 1.19 ZAR . This corresponds to a dividend yield of about 0.01 %. For the coming 12 months, AECI is expected to pay a dividend of 3.19 ZAR.

The current dividend yield of AECI is 0.01 %.

AECI pays a dividend, distributed in the months of , , , .

AECI paid dividends every year for the past 36 years.

For the upcoming 12 months, dividends amounting to 3.19 ZAR are expected. This corresponds to a dividend yield of 0.03 %.

AECI is assigned to the 'Commodities' sector.

To receive the latest dividend of AECI from amounting to 1 ZAR, you needed to have the stock in your portfolio before the ex-date on .

The last dividend was paid out on .

In the year 2025, AECI distributed 1.19 ZAR as dividends.

The dividends of AECI are distributed in ZAR.

All fundamentals and in-depth analysis of AECI

Our stock analysis for AECI stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of AECI. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

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