Avi Ltd (AVI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Avi Ltd stock ZAR 110, price ZAR 84.20, upside +30.8%, quality 81 out of 100. Rating: undervalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range R56.99 – R115.17 · fair‑value band R77.51 – R146.94 · the R84.20 price screens below the R110.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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AVI Limited manufactures, processes, markets, and distributes branded consumer products in the food, beverage, footwear, apparel, and cosmetics sectors in South Africa, other African countries, Europe, and internationally.
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It operates through Entyce Beverages, Snackworks, I&J, Personal Care, and Footwear and Apparel segments.
The company provides hot beverages, such as tea, coffee, and creamer; sweet and savoury biscuits; baked and fried potato, and maize snacks; personal care products, including body spray, fragrance, cosmetics, and body lotion products; footwear and apparel; and catches, processes, markets, and distributes seafood.
It offers beverages under the Five Roses, Freshpak, TRINCO, Ellis Brown, HOUSE OF COFFEES, Koffiehuis, ciro, LAVAZZA, and frisco brands; biscuits and snacks under the BAKERS, Willards, Baker Street, and PROVITA brands; frozen food under the I&J brand; and personal care products under the YARDLEY, Exclamation, and LENTHÉRIC brand names.
The company also provides fashion products under the SPITZ, KURT GEIGER, LACOSTE, CARVELA, TOSONI, GANT, and Green Cross GX&Co brands. AVI Limited was incorporated in 1944 and is based in Johannesburg, South Africa.
Stock analysis
Avi Ltd (AVI) currently trades at R84.20, while our model-based Fair Value estimate is R110.12, implying the stock looks roughly 24% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of R132.43 per share, and 11 of the 25 models we run sit above the R84.20 price.
Bear case: the Economic Profit group reads lowest at R51.73, and 14 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: R77.51 (bear) to R146.94 (bull), the price of R84.20 sits inside 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 81/100 (high quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Avi Ltd reported revenue of 16.2B ZAR in FY2026 versus 13.8B ZAR in FY2022, a compound +4.1%/yr. Reported net income was 2.6B ZAR in FY2026, compounding +10.0%/yr from FY2022.
Key figures
Market cap 28.4B ZAR Small · P/E ratio 11.1 · P/S ratio 1.75 · EPS (TTM) R7.60 · Dividend yield 7.9% · Net margin 15.8% · Return on equity 45.7% · Return on assets (EBIT) 31.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 81 out of 100 (medium confidence).
What moves the price
The share trades about 27% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −1% fair-value upside, at 31%, AVI screens cheaper than that median.
Fair Value models
BearR77.51Fair Value R110.12BullR146.94
Price R84.20 · Upside +30.8%
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 4 months old). Earnings retained since then (0.3508 ZAR 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.
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.77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.4%
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.
+2.9%
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.
+4.1%
Start year 2021 (pandemic). Over 10 years: +2.9% a year
Revenue growth 24 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.
+4.5%
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What shareholders gained per year (last 5 years), in ZAR ⓘ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. Measured in ZAR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+15.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.5%
Dividend (yield on the price)7.9%
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.7.5% vs 5.2%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.18% → 23%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+4.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Africa: IMF forecast 3.3% a year to 2030, 4.9% from 2016 to 2025) that is about +1.3% a year for the price and +1.4% for the forecasts.
Price, fair value, quality and upside side by side.
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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.Packaged Foods · 625 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score81 · Top 25%
Fair Value upside+30.8% · Above median
Profitability
Return on equity (12 months)45.7% · Top 25%
Return on assets24.7% · Top 25%
Net margin (12 months)15.8% · Top 25%
Operating margin (12 months)20.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−2.6% · Bottom 25%
Dividend yield (12 months)7.9% · Top 25%
Valuation Multiplesvs Packaged Foods median · lower = cheaper
P/E (12 months)11.1× · Cheaper than median
P/B4.85× · Priciest 25%
P/S (12 months)1.75× · Priciest 25%
Price / free cash flow (fiscal year)9.8× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Avi Ltd Fair Value". https://www.fairvalue-calculator.com/stock/AVI
Frequently asked questions
Is Avi Ltd (AVI) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of R110.12 versus a price of R84.20, about +31% upside (undervalued).
What is the fair value of AVI?
Our model-based fair value for Avi Ltd is R110.12 (as of Nov 6, 2026), built from audited fundamentals. The current price: R84.20.
What is the quality score of AVI?
Avi Ltd has a Quality Score of 81/100. 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 Avi Ltd (AVI)?
Our model-based price target is the fair value of R110.12 (as of Nov 6, 2026) from 25 valuation models. Cautious scenario R77.51, optimistic scenario R146.94. It is a calculation from audited fundamentals, not an analyst target.
What is the Avi Ltd stock forecast for 2026?
Our models put fair value at R110.12, about +31% upside versus a price of R84.20 (undervalued). Cautious scenario R77.51, optimistic scenario R146.94. The calculation is refreshed regularly with new filings.
What is the revenue of Avi Ltd (AVI)?
Avi Ltd reported trailing-twelve-month revenue of about 16.2B ZAR (latest available figure, as of Nov 6, 2026).
Does Avi Ltd pay a dividend?
Avi Ltd currently shows a dividend yield of 7.87% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Avi Ltd (AVI) and when is the ex-dividend date?
Avi Ltd pays a dividend of R6.63 per share a year, a dividend yield of 7.9%. The last ex-dividend date was Oct 14, 2026. The payout ratio is 87.2% of earnings. Free cash flow covers the dividend 1.30 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Avi Ltd (AVI)?
For today's price to be fair in a discounted-cash-flow model, Avi Ltd would have to grow free cash flow by +4.6 % per year for five years (discount rate 13.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.1 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of AVI use?
Our models discount Avi Ltd at 13.4 %: a base by market capitalisation (small), damped by beta 0.20, country premium for South Africa. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Avi Ltd that is +4.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.4 %) and the same formula as our fair value.
How much growth has Avi Ltd (AVI) delivered so far?
Over the past 5 years revenue at Avi Ltd grew +4.1 % a year. The price currently implies free-cash-flow growth of +4.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Avi Ltd (AVI) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Avi Ltd (+4.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Avi Ltd (AVI)?
The free-cash-flow yield on the price is 10.20 %: that much free cash flow Avi Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Avi Ltd (AVI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Avi Ltd it is R110.12 per share (as of Nov 6, 2026), against a price of R84.20. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Avi Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, AVI trades below its calculated fair value: price R84.20, fair value R110.12, a gap of about +31% (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 AVI?
No. The price is what the market pays today (R84.20); the fair value is what the company's own numbers justify (R110.12). For Avi Ltd the two are R25.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is Avi Ltd worth?
The market values Avi Ltd at about 28.4B ZAR (market capitalisation, as of Nov 6, 2026). Per share that is R84.20; our models calculate a fair value of R110.12 per share.
What do the bullish and bearish scenarios say about AVI?
Our models span a range for Avi Ltd: cautious scenario R77.51, base R110.12, optimistic R146.94 per share (as of Nov 6, 2026, price R84.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AVI?
Avi Ltd trades at a price-to-earnings ratio of 11.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R110.12 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 13.6. Other multiples: PEG 44.5, P/B 4.9, P/S 1.7, EV/EBITDA 6.8.
What is the PEG ratio of AVI?
The PEG ratio of Avi Ltd is 44.52 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Avi Ltd (AVI)?
Balance-sheet figures for Avi Ltd (as of Nov 6, 2026): return on equity 45.7%. They feed the Quality Score of 81/100, which measures business quality independently of the share price.
How far is AVI from its 52-week high?
Avi Ltd trades at R84.20, about 27% below its 52-week high of R115.17 and 7% above the low of R78.71 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of R110.12 is for.
Which stocks are comparable to Avi Ltd?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, Foshan Haitian Flavouring and Food Company, The Kraft Heinz Company, 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 Avi Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price R84.20, calculated fair value R110.12 (+31%), Quality Score 81/100, from 25 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 AVI calculated?
We run Avi Ltd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of R110.12 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. Avi Ltd currently trades 24% 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 Avi Ltd (AVI)?
The closing price on Nov 6, 2026 was R84.20. Our model-based fair value is R110.12, about +31% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Avi Ltd right now?
The rarer combination: high quality (81/100) AND below fair value. That earns a closer look rather than a quick verdict. A fairly wide model range (R77.51 to R146.94) leaves room in how you read the outcome.
Where does the earnings growth of Avi Ltd (AVI) come from?
Earnings per share at Avi Ltd grew +5.4 % a year from 2015 to 2026. Broken into its drivers: revenue per share +2.7 %, EBIT margin +2.5 %, tax rate +0.2 %, residual (interest, one-offs) +0.0 %. 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 Avi Ltd
How large is the market capitalisation of Avi Ltd (AVI)?
The market capitalisation of Avi Ltd is 28.4B ZAR. 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 Avi Ltd (AVI)?
The price-to-sales ratio of Avi Ltd is 1.75 (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 Avi Ltd (AVI)?
Earnings per share at Avi Ltd are R7.60 (price ÷ EPS = P/E 11.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Avi Ltd (AVI)?
The dividend yield of Avi Ltd is 7.9% (payout 87.2%). 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 Avi Ltd (AVI)?
The net margin of Avi Ltd is 15.8% (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 Avi Ltd (AVI)?
The return on equity (ROE) of Avi Ltd is 45.7% (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 Avi Ltd (AVI)?
On an EBIT basis the return on assets of Avi Ltd is 31.1% (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 Avi Ltd (AVI)?
The operating margin of Avi Ltd is 20.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Avi Ltd (AVI)?
Revenue at Avi Ltd is growing −2.6% versus a year earlier (3y avg +2.9%). 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 Avi Ltd (AVI)?
Earnings per share at Avi Ltd are growing −1.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Avi Ltd (AVI) carry?
The net debt of Avi Ltd is 1.7B ZAR (fiscal year 2026, ≈ 0.6 yrs of FCF). 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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Broad data
Nov 6, 2026