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Data-driven stock valuation

Investec PLC (INVP) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Investec PLC stock £12.29, price £6.33, upside +94.2%, quality 47 out of 100. Rating: strongly undervalued. Calculated from audited financials with 8 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services GB · Based in South Africa · ISIN GB00B17BBQ50

IP Investec PLC logo Broad data Nov 8, 2026

Investec PLC

INVP · LSE
Cheap, value-trap risk

The stock costs 48% less than our calculation considers fair.

Fair value £12.29 · Strongly undervalued
Highly profitable · 34.1% net margin (TTM)
5.9% dividend yield · Low payout
Ranks above peers (9/13)
Broad data
Costs just 8.4 times its yearly profit.
Quality 47/100
Expensive Growth (revenue 5y +11.5 %/yr in GBP)
Wide moat 68/100 · thin data

Risks from the AI analysis

🚩FCA motor finance probe and redress
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

£6.82 £1.93 Fair Value £12.29 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range £1.93 – £6.82 · fair‑value band £6.83 – £15.36 · the £6.33 price screens below the £12.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.

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Company profile

Investec Group provides various financial products and services in South Africa, the United Kingdom, and internationally.

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The company provides private banking services; wealth services, including wealth and portfolio management, stockbroking, and offshore and retirement investment, and intergenerational wealth solutions; savings accounts; personal and property financing, and finance for practice; and insurance solutions comprising severe illness, disability, life, mortgage and income protection, and business overloads.

It also offers business banking solutions, such as trade and debtor, asset and leverage, structured property, technology asset, supply chain, and medical practice financing services, as well as financing for corporate and private equity firms; transaction banking, private capital, and forex and risk management solutions; foreign exchange services; instant access and call, notice, and fixed-term deposit accounts; and money market services and equity structured products.

In addition, the company provides advisory; treasury and risk management for foreign exchange, commodities, interest rates, liquidity management, and equity structuring; fixed-income instruments; execution and custody solutions for institutions, hedge funds, corporates, and intermediaries; securities lending; and clearing services.

Investec Group was founded in 1974 and is based in Sandton, South Africa.

Stock analysis

Investec PLC (INVP) currently trades at £6.33, while our model-based Fair Value estimate is £12.29, implying the stock looks roughly 48% undervalued today.

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Valuation

Bull case: the Earnings-Based group reads highest at a median of £19.48 per share, and 7 of the 8 models we run sit above the £6.33 price.

Bear case: the Asset-Based group reads lowest at £5.74, and 1 of the 8 models stay below the price. Data coverage for this calculation is high.

Scenario range: £6.83 (bear) to £15.36 (bull), the price of £6.33 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 47/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Investec PLC reported revenue of £4.7B in FY2026 versus £2.9B in FY2022, a compound +12.8%/yr. Reported net income was £726M in FY2026, compounding +8.9%/yr from FY2022.

Key figures

Market cap £5.5B Mid · P/E ratio 8.4 · P/S ratio 2.60 · EPS (TTM) £0.7500 · Dividend yield 5.9% · Net margin 34.1% · Return on equity 12.4% · Return on assets (EBIT) 2.5% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).

What moves the price

The share trades about 7% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at 94%, INVP screens cheaper than that median.

Fair Value models

Bear £6.83 Fair Value £12.29 Bull £15.36
Price £6.33 · Upside +94.2%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (£0.2291 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income £8.38 £10.22 £14.36 75
Gordon GGM £4.95 £10.29 £16.33 66
DDM Multi-Stage £4.95 £8.67 £10.80 66
All 8 models by family
Earnings-Based
Graham-Dodd £7.88 £29.03 £39.21 64
Lynch FV £6.94 £9.92 £12.90 61
Dividend Discount
Gordon GGM £4.95 £10.29 £16.33 66
DDM Multi-Stage £4.95 £8.67 £10.80 66
Multiples
P/E Multiple £11.30 £15.07 £18.83 63
P/B Multiple £8.99 £11.99 £14.99 55
Asset-Based
NCAV (Graham) £4.28 £5.74 £8.56 54
Economic Profit
Residual Income £8.38 £10.22 £14.36 75

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Quality Score breakdown

Overall quality 47/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 30
How much profit the company makes from its sales and capital
Quality Growth 44
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 21
Debt, balance sheet and risk of trouble
Investment 76
Does it invest with discipline instead of growing at any price?
Low Volatility 90
How calm the share price moves, does not count
Price momentum 42
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 60
Distance to the 52-week high, does not count
New shares 97
Buys back shares or issues new ones?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+136.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+28.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.5%
Start year 2021 (pandemic). Over 10 years: +10.0% a year
Revenue growth 26 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.5%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+14.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
Dividend (yield on the price)5.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.8% vs 7.5%, steady
Pace: the 5-year rate starts in 2021 (pandemic)

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Note from the team Oct 11, 2026
AI conclusion: The business draws strength from recurring client income in specialist banking and wealth franchises yet shows limited signals of a durable moat alongside weak cash conversion.
Main risk: Ongoing FCA review of historical motor finance practices could lead to higher provisions or redress payments that reduce margins in the specialist lending business.
Bull case: Investec could resolve the motor finance matters with limited additional costs and redirect resources toward its wealth and advisory franchises that rely on recurring client relationships.
Bear case: Extended regulatory scrutiny or larger redress requirements might constrain capital allocation and slow growth in the UK lending activities that support the overall specialist banking model.
Investec continues to act as broker and exempt principal trader across multiple UK stocks while opening its UK real estate equity strategy to outside high-net-worth investors and family offices. This mix of trading activity and co-investment opportunities sits alongside its core specialist banking and wealth franchises focused on recurring client income. Does the expansion into property deals add more stable, capital-light revenue than the trading desk contributes through cyclical deal flow?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 385 stocks

Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside +94.2% · Top 25%
Profitability
Return on equity (12 months) 12.4% · Above median
Return on assets 1.1% · Below median
Net margin (12 months) 34.1% · Above median
Operating margin (12 months) 43.8% · Above median
Growth and dividend
Revenue growth (quarter YoY) 9.4% · Below median
Dividend yield (12 months) 5.9% · Top 25%
Balance sheet
Debt / equity 0.51× · Above median

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/E (12 months) 8.4× · Cheaper than median
P/B 1.01× · Cheaper than median
P/S (12 months) 2.60× · Cheaper than median
EV/EBITDA 5.1× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 42
FUTURE (revenue growth)47 · sector 68
PAST (return on equity)49 · sector 38
HEALTH (low debt)–
DIVIDEND (yield)100 · sector 47

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Morgan Stanley MS $181.44 $260.72 +44% vs INVP
The Charles Schwab Corporation SCHW $91.49 $117.60 +29% vs INVP
Guotai Haitong Securities Co 601211 ¥16.32 ¥18.02 +10% vs INVP
Nomura Holdings NMR $9.42 $10.17 +8% vs INVP
The Goldman Sachs Group GS $865.82 $766.86 −11% vs INVP
CITIC Securities Company 600030 ¥25.64 ¥20.42 −20% vs INVP
Robinhood Markets, Inc HOOD $80.91 $47.60 −41% vs INVP
Macquarie Group MQG A$247.94 A$123.84 −50% vs INVP
East Money Information Co 300059 ¥18.78 ¥6.72 −64% vs INVP
Interactive Brokers Group IBKR $75.82 $17.48 −77% vs INVP

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Investec PLC: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Investec PLC Fair Value". https://www.fairvalue-calculator.com/stock/INVP

Frequently asked questions

Is Investec PLC (INVP) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of £12.29 versus a price of £6.33, about +94% upside (undervalued).
What is the fair value of INVP?
Our model-based fair value for Investec PLC is £12.29 (as of Nov 8, 2026), built from audited fundamentals. The current price: £6.33.
What is the quality score of INVP?
Investec PLC has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Investec PLC (INVP)?
Our model-based price target is the fair value of £12.29 (as of Nov 8, 2026) from 8 valuation models. Cautious scenario £6.83, optimistic scenario £15.36. It is a calculation from audited fundamentals, not an analyst target.
What is the Investec PLC stock forecast for 2026?
Our models put fair value at £12.29, about +94% upside versus a price of £6.33 (undervalued). Cautious scenario £6.83, optimistic scenario £15.36. The calculation is refreshed regularly with new filings.
What is the revenue of Investec PLC (INVP)?
Investec PLC reported trailing-twelve-month revenue of about £2.1B (latest available figure, as of Nov 8, 2026).
Does Investec PLC pay a dividend?
Investec PLC currently shows a dividend yield of 5.92% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Investec PLC (INVP) and when is the ex-dividend date?
Investec PLC pays a dividend of £0.375 per share a year, a dividend yield of 5.9%. The last ex-dividend date was Aug 20, 2026. A dividend has been paid every year since at least 2002. The payout ratio is 50.0% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Investec PLC (INVP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Investec PLC it is £12.29 per share (as of Nov 8, 2026), against a price of £6.33. It is the blended result of 8 valuation models in 5 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Investec PLC stock overvalued or undervalued in 2026?
As of Nov 8, 2026, INVP trades below its calculated fair value: price £6.33, fair value £12.29, a gap of about +94% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of INVP?
No. The price is what the market pays today (£6.33); the fair value is what the company's own numbers justify (£12.29). For Investec PLC the two are £5.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Investec PLC worth?
The market values Investec PLC at about £5.5B (market capitalisation, as of Nov 8, 2026). Per share that is £6.33; our models calculate a fair value of £12.29 per share.
What do the bullish and bearish scenarios say about INVP?
Our models span a range for Investec PLC: cautious scenario £6.83, base £12.29, optimistic £15.36 per share (as of Nov 8, 2026, price £6.33). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INVP?
Investec PLC trades at a price-to-earnings ratio of 8.4 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £12.29 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 6.5. Other multiples: P/B 1.0, P/S 2.6, EV/EBITDA 5.1.
How solid is the balance sheet of Investec PLC (INVP)?
Balance-sheet figures for Investec PLC (as of Nov 8, 2026): return on equity 12.4%, debt of 0.51 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is INVP from its 52-week high?
Investec PLC trades at £6.33, about 7% below its 52-week high of £6.82 and 25% above the low of £5.07 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of £12.29 is for.
Which stocks are comparable to Investec PLC?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Investec PLC stock attractive at the current price?
The data as of Nov 8, 2026: price £6.33, calculated fair value £12.29 (+94%), Quality Score 47/100, from 8 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of INVP calculated?
We run Investec PLC through 8 models from 5 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of £12.29 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Investec PLC currently trades 48% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Investec PLC (INVP)?
The closing price on Nov 9, 2026 was £6.33. Our model-based fair value is £12.29, about +94% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Investec PLC right now?
The large discount to fair value meets weak quality (47/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (£6.83). The market is more pessimistic than our downside scenario. A fairly wide model range (£6.83 to £15.36) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Investec PLC (INVP) come from?
Earnings per share at Investec PLC grew +9.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +4.6 %, EBIT margin +9.0 %, tax rate +0.8 %, residual (interest, one-offs) −4.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Investec PLC

How large is the market capitalisation of Investec PLC (INVP)?
The market capitalisation of Investec PLC is £5.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Investec PLC (INVP)?
The price-to-sales ratio of Investec PLC is 2.60 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Investec PLC (INVP)?
Earnings per share at Investec PLC are £0.7500 (price ÷ EPS = P/E 8.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Investec PLC (INVP)?
The dividend yield of Investec PLC is 5.9% (payout 50.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Investec PLC (INVP)?
The net margin of Investec PLC is 34.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Investec PLC (INVP)?
The return on equity (ROE) of Investec PLC is 12.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Investec PLC (INVP)?
On an EBIT basis the return on assets of Investec PLC is 2.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Investec PLC (INVP)?
The operating margin of Investec PLC is 43.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Investec PLC (INVP)?
Revenue at Investec PLC is growing +9.4% versus a year earlier (3y avg +28.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Investec PLC (INVP)?
Earnings per share at Investec PLC are growing +9.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Investec PLC (INVP) generate?
The free cash flow of Investec PLC is −£371M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Investec PLC (INVP) carry?
The net debt of Investec PLC is £3.9B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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