B 
3,899.00
-2.35%
Close of 9 Nov 2026, in ZAc
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 11.15bn
FY2016FY2025
Net income
ZAR 384.0m
FY2016FY2025
Free cash flow
ZAR 928.9m
FY2016FY2025
Shareholders' equity
ZAR 5.78bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 11.15bn | ZAR 11.70bn | ZAR 13.51bn | ZAR 10.28bn | ZAR 8.02bn | ZAR 6.69bn | ZAR 7.82bn | ZAR 7.53bn | ZAR 6.77bn | ZAR 6.00bn |
| Gross profit | ZAR 2.47bn | ZAR 2.47bn | ZAR 2.70bn | ZAR 2.03bn | ZAR 1.54bn | ZAR 1.23bn | ZAR 1.46bn | ZAR 1.48bn | ZAR 1.44bn | ZAR 1.40bn |
| Research and development | ZAR 47.4m | ZAR 51.1m | ZAR 66.4m | ZAR 69.6m | ZAR 67.4m | ZAR 34.8m | ZAR 34.4m | ZAR 43.4m | ZAR 46.3m | ZAR 35.5m |
| Operating income | ZAR 581.3m | ZAR 754.4m | ZAR 1.19bn | ZAR 705.2m | ZAR 403.7m | ZAR 35.6m | ZAR 230.6m | ZAR 453.8m | ZAR 433.2m | ZAR 148.2m |
| Net income | ZAR 384.0m | ZAR 440.4m | ZAR 763.6m | ZAR 456.8m | ZAR 286.8m | −ZAR 64.3m | ZAR 75.5m | ZAR 269.6m | ZAR 260.2m | ZAR 37.5m |
| Diluted earnings per share | 3.65 | 3.71 | 7.99 | 3.15 | 2.22 | -0.67 | 0.79 | 2.81 | 2.73 | 0.39 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 8.95bn | ZAR 9.09bn | ZAR 10.53bn | ZAR 8.65bn | ZAR 6.92bn | ZAR 6.64bn | ZAR 7.03bn | ZAR 6.53bn | ZAR 5.36bn | ZAR 4.51bn |
| Cash and short-term investments | ZAR 628.2m | ZAR 216.2m | ZAR 251.8m | ZAR 228.6m | ZAR 156.3m | ZAR 82.8m | ZAR 97.9m | ZAR 155.2m | ZAR 263.4m | ZAR 146.2m |
| Total liabilities | ZAR 3.04bn | ZAR 3.42bn | ZAR 5.25bn | ZAR 4.29bn | ZAR 3.06bn | ZAR 3.14bn | ZAR 3.59bn | ZAR 3.16bn | ZAR 2.37bn | ZAR 1.75bn |
| Debt | ZAR 933.7m | ZAR 1.31bn | ZAR 2.30bn | ZAR 1.82bn | ZAR 1.16bn | ZAR 1.57bn | ZAR 2.15bn | ZAR 1.59bn | ZAR 882.7m | ZAR 653.6m |
| Shareholders' equity | ZAR 5.78bn | ZAR 5.57bn | ZAR 5.21bn | ZAR 4.32bn | ZAR 3.84bn | ZAR 3.49bn | ZAR 3.43bn | ZAR 3.35bn | ZAR 2.98bn | ZAR 2.76bn |
| Shares outstanding | 105m | 119m | 96m | 145m | 129m | 96m | 96m | 96m | 95m | 95m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 1.08bn | ZAR 1.93bn | ZAR 251.4m | −ZAR 216.3m | ZAR 593.9m | ZAR 818.6m | −ZAR 272.5m | −ZAR 322.7m | −ZAR 10.2m | ZAR 88.3m |
| Capital spending | −ZAR 151.3m | −ZAR 180.3m | −ZAR 212.3m | −ZAR 130.7m | −ZAR 103.7m | −ZAR 90.7m | −ZAR 182.0m | −ZAR 265.9m | −ZAR 135.8m | −ZAR 135.5m |
| Free cash flow | ZAR 928.9m | ZAR 1.75bn | ZAR 39.0m | −ZAR 347.0m | ZAR 490.2m | ZAR 727.9m | −ZAR 454.5m | −ZAR 588.7m | −ZAR 146.0m | −ZAR 47.1m |
| Dividends paid | −ZAR 155.1m | −ZAR 3.0m | −ZAR 88.0m | −ZAR 48.8m | −ZAR 189,000 | −ZAR 189,000 | −ZAR 43.0m | −ZAR 42.9m | −ZAR 19.1m | −ZAR 14.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 5.35bn | ZAR 5.05bn | ZAR 6.10bn | ZAR 5.32bn | ZAR 6.38bn | ZAR 3.19bn | ZAR 7.51bn | ZAR 3.75bn |
| Gross profit | ZAR 1.04bn | ZAR 1.13bn | ZAR 1.34bn | ZAR 1.11bn | ZAR 1.35bn | ZAR 673.0m | ZAR 1.55bn | ZAR 773.1m |
| Operating income | ZAR 120.9m | ZAR 278.5m | ZAR 302.8m | ZAR 588.1m | ZAR 526.7m | ZAR 263.4m | ZAR 657.8m | ZAR 328.9m |
| Net income | ZAR 67.0m | ZAR 169.3m | ZAR 214.7m | ZAR 132.4m | ZAR 308.1m | ZAR 154.0m | ZAR 435.8m | ZAR 217.9m |
| Diluted earnings per share | 0.70 | 1.61 | 2.04 | 1.11 | 2.59 | 1.30 | 4.56 | 2.28 |
| Cash from operations | ZAR 157.0m | — | ZAR 1.08bn | ZAR 1.25bn | ZAR 674.0m | ZAR 337.0m | ZAR 390.0m | ZAR 195.0m |
| Capital spending | −ZAR 69.0m | −ZAR 87.0m | −ZAR 63.0m | −ZAR 107.0m | −ZAR 73.0m | −ZAR 36.0m | −ZAR 121.0m | −ZAR 60.0m |
| Free cash flow | ZAR 88.0m | — | ZAR 1.02bn | ZAR 1.14bn | ZAR 601.0m | ZAR 301.0m | ZAR 269.0m | ZAR 135.0m |
| Total assets | ZAR 9.15bn | ZAR 8.95bn | ZAR 9.20bn | ZAR 9.09bn | ZAR 10.40bn | ZAR 10.40bn | ZAR 10.53bn | ZAR 10.53bn |
| Cash and short-term investments | ZAR 664.3m | ZAR 628.2m | ZAR 512.0m | ZAR 216.2m | ZAR 245.0m | ZAR 245.0m | ZAR 251.8m | ZAR 251.8m |
| Debt | ZAR 479.5m | ZAR 568.7m | ZAR 340.5m | ZAR 923.6m | ZAR 1.71bn | ZAR 1.57bn | ZAR 1.86bn | ZAR 1.71bn |
| Shareholders' equity | ZAR 5.68bn | ZAR 5.78bn | ZAR 5.78bn | ZAR 5.57bn | ZAR 5.43bn | ZAR 5.43bn | ZAR 5.21bn | ZAR 5.21bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.8% | 10.8% | 6.6% |
| Operating income | -6.2% | 74.8% | 7.1% |
| Net income | -5.6% | — | 8.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.6% | 20.7% | 20.3% | 20.5% |
| Operating margin | 5.8% | 6.9% | 6.0% | 5.5% |
| Net margin | 3.6% | 4.4% | 3.7% | 3.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 11.5 | 11.0 | 2.9 | 4.8 | 5.6 | -9.7 | 5.3 | 2.0 | 2.2 | 14.0 |
| Price to sales | 0.4 | 0.4 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 22 Sept 2026.
| FY2026 | FY2025 | FY2023 | FY2022 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.30 | 1.60 | 0.90 | 0.50 | 0.45 | 0.45 | 0.20 | 0.15 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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