Why is SASOL stock price going up?
Bulls say
Free cash flow recovery
H1 FY26 positive free cash flow (first time in four years; >100% improvement) signals improved cash conversion and disciplined cash levers. Sustained FCF strengthens the company’s ability to deleverage, fund strategic capex and renewables, and absorb commodity cycles over the medium term.
Deleveraging & liquidity
Net debt of USD 3.8bn, gross debt down 9% YoY and >USD4bn liquidity headroom demonstrate measurable balance-sheet repair. This improved leverage and ample liquidity provide financial flexibility to invest in transformations, support operations, and withstand commodity-driven earnings volatility.
Operational recovery at Secunda
A 10% production increase at Secunda and a destoning plant achieving target specs indicate stronger asset reliability and feedstock quality. Restored throughput reduces unit costs, secures internal feedstocks, and supports more stable margins and cash generation as operations normalize over the coming months.

