R 
4,297.00
-2.72%
Close of 9 Nov 2026, in ZAc
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At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 22.05bn
FY2017FY2026
Net income
ZAR 1.10bn
FY2017FY2026
Free cash flow
ZAR 13.8m
FY2017FY2026
Shareholders' equity
ZAR 7.30bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 22.05bn | ZAR 21.08bn | ZAR 17.43bn | ZAR 15.31bn | ZAR 11.58bn | ZAR 8.85bn | ZAR 8.73bn | ZAR 8.52bn | ZAR 8.54bn | ZAR 9.01bn |
| Gross profit | ZAR 2.84bn | ZAR 2.50bn | ZAR 2.48bn | ZAR 2.11bn | ZAR 1.59bn | ZAR 1.01bn | ZAR 1.09bn | ZAR 726.8m | ZAR 1.13bn | ZAR 1.24bn |
| Operating income | ZAR 1.76bn | ZAR 1.56bn | ZAR 1.54bn | ZAR 1.28bn | ZAR 945.3m | ZAR 364.5m | ZAR 480.5m | ZAR 207.0m | ZAR 671.9m | ZAR 661.7m |
| Net income | ZAR 1.10bn | ZAR 1.08bn | ZAR 847.6m | ZAR 704.3m | ZAR 553.7m | ZAR 158.1m | ZAR 251.9m | ZAR 58.0m | ZAR 423.6m | ZAR 372.1m |
| Diluted earnings per share | 5.93 | 5.94 | 4.66 | 3.86 | 3.05 | 0.87 | 1.38 | 0.32 | 2.33 | 2.05 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 16.46bn | ZAR 14.91bn | ZAR 13.20bn | ZAR 11.34bn | ZAR 10.00bn | ZAR 8.49bn | ZAR 7.98bn | ZAR 7.27bn | ZAR 7.14bn | ZAR 6.99bn |
| Cash and short-term investments | ZAR 1.87bn | ZAR 2.12bn | ZAR 1.66bn | ZAR 1.70bn | ZAR 1.50bn | ZAR 1.90bn | ZAR 1.01bn | ZAR 962.6m | ZAR 1.08bn | ZAR 1.10bn |
| Total liabilities | ZAR 8.59bn | ZAR 7.76bn | ZAR 6.59bn | ZAR 5.54bn | ZAR 4.78bn | ZAR 3.81bn | ZAR 3.47bn | ZAR 2.94bn | ZAR 2.94bn | ZAR 3.04bn |
| Debt | ZAR 2.85bn | ZAR 2.39bn | ZAR 2.09bn | ZAR 1.63bn | ZAR 1.42bn | ZAR 1.20bn | ZAR 1.29bn | ZAR 671.9m | ZAR 800.9m | ZAR 956.6m |
| Shareholders' equity | ZAR 7.30bn | ZAR 6.60bn | ZAR 5.91bn | ZAR 5.30bn | ZAR 4.80bn | ZAR 4.40bn | ZAR 4.26bn | ZAR 4.06bn | ZAR 4.04bn | ZAR 3.80bn |
| Shares outstanding | 185m | 182m | 182m | 183m | 181m | 182m | 183m | 182m | 182m | 182m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ZAR 1.17bn | ZAR 1.96bn | ZAR 1.48bn | ZAR 1.59bn | ZAR 566.1m | ZAR 1.12bn | ZAR 590.3m | ZAR 615.8m | ZAR 846.4m | ZAR 984.5m |
| Capital spending | −ZAR 1.15bn | −ZAR 1.38bn | −ZAR 1.70bn | −ZAR 1.15bn | −ZAR 695.9m | −ZAR 417.2m | −ZAR 581.5m | −ZAR 420.9m | −ZAR 441.3m | −ZAR 440.5m |
| Free cash flow | ZAR 13.8m | ZAR 577.0m | −ZAR 219.5m | ZAR 438.4m | −ZAR 129.7m | ZAR 703.2m | ZAR 8.7m | ZAR 195.0m | ZAR 405.1m | ZAR 543.9m |
| Dividends paid | −ZAR 333.2m | −ZAR 334.5m | −ZAR 249.5m | −ZAR 192.2m | −ZAR 137.1m | −ZAR 43.4m | −ZAR 79.8m | −ZAR 81.8m | −ZAR 163.5m | −ZAR 160.1m |
Latest quarters
By quarter end
| Feb 2026 | Aug 2025 | Feb 2025 | Aug 2024 | Feb 2024 | Nov 2023 | Aug 2023 | May 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 11.20bn | ZAR 10.84bn | ZAR 10.12bn | ZAR 10.95bn | ZAR 8.98bn | ZAR 8.98bn | ZAR 8.45bn | ZAR 4.22bn |
| Gross profit | ZAR 1.70bn | ZAR 1.16bn | ZAR 1.12bn | ZAR 1.37bn | ZAR 1.39bn | ZAR 1.39bn | ZAR 1.09bn | ZAR 547.0m |
| Operating income | ZAR 1.11bn | ZAR 570.2m | ZAR 611.2m | ZAR 846.2m | ZAR 908.3m | ZAR 908.3m | ZAR 593.4m | ZAR 314.2m |
| Net income | ZAR 657.9m | ZAR 441.6m | ZAR 569.5m | ZAR 512.7m | ZAR 501.6m | ZAR 501.6m | ZAR 346.1m | ZAR 173.0m |
| Diluted earnings per share | 3.55 | 2.42 | 3.13 | 2.82 | 2.76 | 2.75 | 1.90 | 0.95 |
| Cash from operations | ZAR 742.0m | ZAR 423.0m | ZAR 677.0m | ZAR 1.28bn | ZAR 991.0m | ZAR 991.0m | ZAR 490.0m | ZAR 245.0m |
| Capital spending | −ZAR 571.0m | −ZAR 597.0m | −ZAR 624.0m | −ZAR 757.0m | −ZAR 703.0m | −ZAR 703.0m | −ZAR 997.0m | −ZAR 498.0m |
| Free cash flow | ZAR 171.0m | −ZAR 174.0m | ZAR 53.0m | ZAR 524.0m | ZAR 288.0m | ZAR 288.0m | −ZAR 507.0m | −ZAR 253.0m |
| Total assets | ZAR 16.46bn | ZAR 15.96bn | ZAR 14.91bn | ZAR 14.70bn | ZAR 13.20bn | ZAR 13.20bn | ZAR 12.19bn | ZAR 12.19bn |
| Cash and short-term investments | ZAR 1.87bn | ZAR 1.65bn | ZAR 2.12bn | ZAR 2.15bn | ZAR 1.66bn | ZAR 1.66bn | ZAR 1.28bn | ZAR 1.27bn |
| Debt | ZAR 2.76bn | ZAR 2.53bn | ZAR 2.30bn | ZAR 1.97bn | ZAR 1.76bn | ZAR 700.4m | ZAR 1.63bn | ZAR 595.2m |
| Shareholders' equity | ZAR 7.30bn | ZAR 6.80bn | ZAR 6.60bn | ZAR 6.22bn | ZAR 5.91bn | ZAR 5.91bn | ZAR 5.47bn | ZAR 5.47bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.9% | 20.0% | 10.8% |
| Operating income | 11.2% | 37.0% | 9.5% |
| Net income | 16.0% | 47.4% | 9.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.4% | 13.1% | 13.0% | 12.8% |
| Operating margin | 7.7% | 8.1% | 7.7% | 7.3% |
| Net margin | 5.1% | 4.9% | 4.6% | 4.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 7.6 | 7.5 | 11.4 | 7.2 | 9.1 | 45.7 | 6.8 | 32.7 | 3.2 | 4.2 |
| Price to sales | 0.4 | 0.4 | 0.6 | 0.3 | 0.4 | 0.8 | 0.2 | 0.2 | 0.2 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 19 years. Last went ex-dividend on 27 May 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.21 | 1.85 | 1.86 | 1.39 | 1.07 | 0.76 | 0.24 | 0.44 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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