N 
24,544.00
-1.88%
Close of 6 Nov 2026, in ZAc
At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 53.79bn
FY2017FY2026
Net income
ZAR 13.88bn
FY2017FY2026
Free cash flow
ZAR 11.32bn
FY2017FY2026
Shareholders' equity
ZAR 42.48bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 53.79bn | ZAR 32.90bn | ZAR 30.81bn | ZAR 39.55bn | ZAR 34.06bn | ZAR 32.63bn | ZAR 17.76bn | ZAR 10.73bn | ZAR 7.48bn | ZAR 6.87bn |
| Gross profit | ZAR 13.85bn | ZAR 3.59bn | ZAR 4.87bn | ZAR 15.45bn | ZAR 14.89bn | ZAR 16.11bn | ZAR 5.18bn | ZAR 2.42bn | ZAR 717.0m | ZAR 573.3m |
| Operating income | ZAR 13.85bn | ZAR 3.50bn | ZAR 4.86bn | ZAR 15.36bn | ZAR 14.82bn | ZAR 16.04bn | ZAR 5.18bn | ZAR 701.9m | −ZAR 473.0m | ZAR 573.3m |
| Net income | ZAR 13.88bn | ZAR 1.49bn | ZAR 1.80bn | ZAR 2.55bn | ZAR 9.85bn | ZAR 9.38bn | ZAR 2.17bn | ZAR 60.1m | −ZAR 705.0m | −ZAR 635.9m |
| Diluted earnings per share | 34.38 | 3.73 | 4.49 | 6.55 | 25.23 | 25.84 | 5.49 | 0.17 | -2.01 | -1.82 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 71.05bn | ZAR 58.08bn | ZAR 54.02bn | ZAR 60.28bn | ZAR 57.35bn | ZAR 37.95bn | ZAR 30.67bn | ZAR 26.94bn | ZAR 23.82bn | ZAR 19.89bn |
| Cash and short-term investments | ZAR 13.67bn | ZAR 6.69bn | ZAR 7.51bn | ZAR 5.14bn | ZAR 926.1m | ZAR 3.78bn | ZAR 2.16bn | ZAR 950.3m | ZAR 388.7m | ZAR 1.79bn |
| Total liabilities | ZAR 28.57bn | ZAR 25.93bn | ZAR 23.54bn | ZAR 27.97bn | ZAR 27.62bn | ZAR 18.94bn | ZAR 21.02bn | ZAR 19.49bn | ZAR 16.44bn | ZAR 11.80bn |
| Debt | ZAR 11.08bn | ZAR 12.23bn | ZAR 10.76bn | ZAR 14.95bn | ZAR 15.64bn | ZAR 7.82bn | ZAR 5.75bn | ZAR 14.89bn | ZAR 12.65bn | ZAR 8.96bn |
| Shareholders' equity | ZAR 42.48bn | ZAR 32.15bn | ZAR 30.48bn | ZAR 32.30bn | ZAR 29.73bn | ZAR 19.02bn | ZAR 9.65bn | ZAR 7.46bn | ZAR 7.39bn | ZAR 8.09bn |
| Shares outstanding | 404m | 400m | 400m | 390m | 390m | 363m | 395m | 350m | 350m | 350m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 17.17bn | ZAR 4.74bn | ZAR 1.65bn | ZAR 13.99bn | ZAR 11.39bn | ZAR 12.10bn | ZAR 5.80bn | ZAR 2.30bn | −ZAR 500.4m | ZAR 951.8m |
| Capital spending | −ZAR 5.85bn | −ZAR 4.97bn | −ZAR 4.66bn | −ZAR 5.54bn | −ZAR 4.62bn | −ZAR 3.22bn | −ZAR 2.39bn | −ZAR 2.50bn | −ZAR 3.42bn | −ZAR 1.62bn |
| Free cash flow | ZAR 11.32bn | −ZAR 231.2m | −ZAR 3.00bn | ZAR 8.45bn | ZAR 6.78bn | ZAR 8.88bn | ZAR 3.41bn | −ZAR 197.4m | −ZAR 3.92bn | −ZAR 669.0m |
| Dividends paid | −ZAR 3.54bn | −ZAR 331.4m | −ZAR 2.73bn | — | −ZAR 59.4m | −ZAR 59.4m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 30.77bn | ZAR 23.02bn | ZAR 18.22bn | ZAR 14.53bn | ZAR 15.77bn | ZAR 15.04bn | ZAR 7.50bn | ZAR 19.64bn |
| Gross profit | ZAR 8.29bn | ZAR 5.56bn | ZAR 2.31bn | ZAR 1.13bn | ZAR 2.36bn | ZAR 2.42bn | ZAR 1.55bn | ZAR 6.55bn |
| Operating income | ZAR 8.29bn | ZAR 5.56bn | ZAR 2.31bn | ZAR 1.13bn | ZAR 2.36bn | ZAR 2.42bn | ZAR 1.19bn | ZAR 6.55bn |
| Net income | ZAR 5.98bn | ZAR 7.90bn | ZAR 1.25bn | ZAR 239.9m | ZAR 1.27bn | ZAR 532.6m | ZAR 266.3m | −ZAR 3.67bn |
| Diluted earnings per share | 14.82 | 19.77 | 3.13 | 0.60 | 3.16 | 1.37 | 0.68 | -9.42 |
| Cash from operations | ZAR 11.21bn | ZAR 5.96bn | ZAR 3.66bn | −ZAR 253.0m | ZAR 1.93bn | −ZAR 275.0m | ZAR 349.0m | ZAR 6.15bn |
| Capital spending | −ZAR 3.12bn | −ZAR 2.73bn | −ZAR 2.55bn | −ZAR 2.42bn | −ZAR 2.23bn | −ZAR 2.43bn | −ZAR 1.22bn | −ZAR 2.96bn |
| Free cash flow | ZAR 8.10bn | ZAR 3.23bn | ZAR 1.11bn | −ZAR 2.67bn | −ZAR 296.0m | −ZAR 2.71bn | −ZAR 867.0m | ZAR 3.19bn |
| Total assets | ZAR 71.05bn | ZAR 67.40bn | ZAR 58.08bn | ZAR 53.04bn | ZAR 54.02bn | ZAR 56.39bn | ZAR 56.39bn | ZAR 60.28bn |
| Cash and short-term investments | ZAR 13.67bn | ZAR 9.25bn | ZAR 6.69bn | ZAR 3.97bn | ZAR 7.51bn | ZAR 11.78bn | ZAR 11.78bn | ZAR 5.14bn |
| Debt | ZAR 10.98bn | ZAR 11.93bn | ZAR 12.14bn | ZAR 10.20bn | ZAR 10.66bn | ZAR 14.24bn | ZAR 4.11bn | ZAR 14.87bn |
| Shareholders' equity | ZAR 42.48bn | ZAR 39.25bn | ZAR 32.15bn | ZAR 30.45bn | ZAR 30.48bn | ZAR 30.45bn | ZAR 30.45bn | ZAR 32.30bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.8% | 10.5% | 24.3% |
| Operating income | -3.4% | -2.9% | 42.7% |
| Net income | 75.8% | 8.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.1% | 24.0% | 30.7% | 28.6% |
| Operating margin | 20.0% | 23.9% | 30.6% | 27.4% |
| Net margin | 17.7% | 12.6% | 17.4% | 14.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Price to earnings | 6.7 | 90.5 | 21.7 | 21.4 | 7.4 | 8.1 |
| Price to sales | 1.7 | 4.1 | 1.3 | 1.4 | 2.1 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 16 Sept 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | |
|---|---|---|---|---|
| Paid in the year | 10.00 | 9.00 | 0.90 | 7.00 |
- 1-to-1 reverse split · 11 Jun 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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