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Fairvest Ltd (FTA) fair value: what the stock is really worth

As of Nov 2, 2026: fair value (intrinsic value) of Fairvest Ltd stock ZAR 49.25, price ZAR 19.70, upside +150.0%, quality 38 out of 100. Rating: strongly undervalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.

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Real Estate ZA · ISIN ZAE000304788

FL Fairvest Ltd logo Some data Nov 4, 2026

Fairvest Ltd

FTA · JSE
Cheap, value-trap risk

The stock costs 60% less than our calculation considers fair.

Fair value R49.25 · Strongly undervalued (60%)
Highly profitable · 61.8% net margin (TTM)
Low debt
Ranks above peers (8/13)
Even on cautious assumptions the value is 120% above the price (R43.35).
Mixed Growth (revenue YoY +6.8 %/yr in ZAR)
7.3% dividend yield · Watch coverage
Wide moat 76/100 · thin data
Some data
Quality 38/100
Negative free cash flow
⚠ Thinly traded
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

R21.00 R6.29 Fair Value R49.25 Apr 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

60‑month range R6.29 – R21.00 · fair‑value band R43.35 – R64.78 · the R19.70 price screens below the R49.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.

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Company profile

Fairvest Limited (Fairvest) is a diversified South African Real Estate Investment Trust (REIT) focused on creating long-term shareholder value. Fairvest holds a portfolio of 130 retail, office and industrial properties valued at R13.4 billion (held directly and through subsidiaries).

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The average value per property held as of 30 September 2025 was R103.3 million. As of 30 September 2025, Fairvest held a 23.6% interest (2024: 5.0%) in Dipula Properties Limited (Dipula).

As of 30 September 2025, Fairvest held a 79.9% interest (2024: 0%) in Onepath Investments (RF) Proprietary Limited (Onepath). Onepath owns fibre infrastructure in townships which is rented to a fibre network operator to provide high quality internet access to township homes and communities.

Fairvest Limited was incorporated in 1998 in South Africa.

Stock analysis

Fairvest Ltd (FTA) currently trades at R19.70, while our model-based Fair Value estimate is R49.25, implying the stock looks roughly 60% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of R253.64 per share, and 9 of the 9 models we run sit above the R19.70 price.

Bear case: the Dividend Discount group reads lowest at R77.55, and 0 of the 9 models stay below the price. Data coverage for this calculation is medium.

Scenario range: R43.35 (bear) to R64.78 (bull), the price of R19.70 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 38/100 (below-average quality), in the Real Estate sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Fairvest Ltd reported revenue of 2.2B ZAR in FY2025 versus 550M ZAR in FY2021, a compound +41.1%/yr. Reported net income was 1.5B ZAR in FY2025, compounding +50.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap 39.0B ZAR Mid · P/E ratio 10.8 · P/S ratio 7.24 · EPS (TTM) R1.83 · Dividend yield 7.3% · Net margin 67.3% · Return on equity 15.9% · Return on assets (EBIT) 7.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 76 out of 100 (low confidence).

What moves the price

The share trades about 6% below its 52-week high and 23% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −30% fair-value upside, at 150%, FTA screens cheaper than that median.

Fair Value models

Bear R43.35 Fair Value R49.25 Bull R64.78
Price R19.70 · Upside +150.0%
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 2025 figures (about 12 months old). Earnings retained since then (0.3830 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.
Best data coverage
Residual Income R153.94 R174.89 R230.05 73
EV/EBITDA R174.95 R253.64 R332.34 67
Gordon GGM R48.17 R82.87 R109.80 65
All 9 models by family
Dividend Discount
Gordon GGM R48.17 R82.87 R109.80 65
DDM Multi-Stage R48.17 R77.55 R88.93 65
Multiples
P/S Multiple R169.38 R225.84 R282.30 58
P/B Multiple R263.20 R350.93 R438.66 55
EV/EBIT R242.38 R343.55 R444.72 65
EV/EBITDA R174.95 R253.64 R332.34 67
EV/Revenue R106.25 R177.99 R249.74 52
Asset-Based
NCAV (Graham) R87.73 R117.56 R175.46 54
Economic Profit
Residual Income R153.94 R174.89 R230.05 73

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Quality Score breakdown

Overall quality 38/100

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

Profitability 54
How much profit the company makes from its sales and capital
Quality Growth 62
Are margins and returns getting better?
Cashflow 6
Do the profits arrive as real cash?
Financial strength 50
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 60
How calm the share price moves, does not count
Price momentum 51
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 63
Distance to the 52-week high, does not count
New shares 38
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. 37/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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. Basis: EBIT basis. 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.
≈ +30.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.1%
Dividend (yield on the price)7.3%
Profit margin 2021 to 2025 ⓘ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.58% → 53%
⚠ Rate on operating basis: 2025 sits 126% above its own trend.

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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.REIT - Retail · 89 stocks

Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside +150.0% · Top 25%
Profitability
Return on equity (12 months) 15.9% · Top 25%
Return on assets 9.2% · Top 25%
Net margin (12 months) 61.8% · Above median
Operating margin (12 months) 57.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) 18.1% · Top 25%
Dividend yield (12 months) 7.3% · Top 25%
Balance sheet
Debt / equity 0.27× · Lowest 25%

Valuation Multiplesvs REIT - Retail median · lower = cheaper

P/E (12 months) 10.8× · Cheaper than median
P/B 3.54× · Priciest 25%
P/S (12 months) 14.96× · Priciest 25%
EV/EBITDA 27.3× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 16
FUTURE (revenue growth)91 · sector 27
PAST (return on equity)63 · sector 31
HEALTH (low debt)86 · sector 68
DIVIDEND (yield)100 · sector 100

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 REIT - Retail stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Realty Income Corporation O $59.50 $88.46 +49% vs FTA
Scentre Group SCG A$3.61 A$3.48 −4% vs FTA
Link Real Estate Investment Trust (Link REIT) 0823 HK$41.08 HK$38.24 −7% vs FTA
Unibail-Rodamco-Westfield SE URW €93.82 €71.26 −24% vs FTA
Kimco Realty Corporation KIM $25.63 $17.89 −30% vs FTA
Brixmor Property Group BRX $29.94 $18.82 −37% vs FTA
CapitaLand Integrated Commercial Trust (CICT or the Trust) C38U 2.37 SGD 1.38 SGD −42% vs FTA
Regency Centers Corporation REG $76.28 $38.54 −49% vs FTA
Simon Property Group SPG $226.55 $96.63 −57% vs FTA
Federal Realty Investment Trust FRT $113.24 $40.47 −64% vs FTA

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Fairvest Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Fairvest Ltd Fair Value". https://www.fairvalue-calculator.com/stock/FTA

Frequently asked questions

Is Fairvest Ltd (FTA) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of R49.25 versus a price of R19.70, about +150% upside (undervalued).
What is the fair value of FTA?
Our model-based fair value for Fairvest Ltd is R49.25 (as of Nov 4, 2026), built from audited fundamentals. The current price: R19.70.
What is the quality score of FTA?
Fairvest Ltd has a Quality Score of 38/100. 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 Fairvest Ltd (FTA)?
Our model-based price target is the fair value of R49.25 (as of Nov 4, 2026) from 9 valuation models. Cautious scenario R43.35, optimistic scenario R64.78. It is a calculation from audited fundamentals, not an analyst target.
What is the Fairvest Ltd stock forecast for 2026?
Our models put fair value at R49.25, about +150% upside versus a price of R19.70 (undervalued). Cautious scenario R43.35, optimistic scenario R64.78. The calculation is refreshed regularly with new filings.
What is the revenue of Fairvest Ltd (FTA)?
Fairvest Ltd reported trailing-twelve-month revenue of about 2.6B ZAR (latest available figure, as of Nov 4, 2026).
Does Fairvest Ltd pay a dividend?
Fairvest Ltd currently shows a dividend yield of 7.35% relative to its recent price (as of Nov 4, 2026).
What is the intrinsic value of Fairvest Ltd (FTA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fairvest Ltd it is R49.25 per share (as of Nov 4, 2026), against a price of R19.70. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Fairvest Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, FTA trades below its calculated fair value: price R19.70, fair value R49.25, a gap of about +150% (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 FTA?
No. The price is what the market pays today (R19.70); the fair value is what the company's own numbers justify (R49.25). For Fairvest Ltd the two are R29.55 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fairvest Ltd worth?
The market values Fairvest Ltd at about 39.0B ZAR (market capitalisation, as of Nov 4, 2026). Per share that is R19.70; our models calculate a fair value of R49.25 per share.
What do the bullish and bearish scenarios say about FTA?
Our models span a range for Fairvest Ltd: cautious scenario R43.35, base R49.25, optimistic R64.78 per share (as of Nov 4, 2026, price R19.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FTA?
Fairvest Ltd trades at a price-to-earnings ratio of 10.8 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R49.25 is built from several models across several years. Other multiples: P/B 3.5, P/S 15.0, EV/EBITDA 27.3.
How solid is the balance sheet of Fairvest Ltd (FTA)?
Balance-sheet figures for Fairvest Ltd (as of Nov 4, 2026): return on equity 15.9%, debt of 0.27 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is FTA from its 52-week high?
Fairvest Ltd trades at R19.70, about 6% below its 52-week high of R21.00 and 23% above the low of R15.97 (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of R49.25 is for.
Which stocks are comparable to Fairvest Ltd?
From the same area (Real Estate) we also value Simon Property Group, Realty Income Corporation, Kimco Realty Corporation, Unibail-Rodamco-Westfield SE, 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 Fairvest Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price R19.70, calculated fair value R49.25 (+150%), Quality Score 38/100, from 9 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 FTA calculated?
We run Fairvest Ltd through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R49.25, 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 15.5% above its aggregate fair value. Fairvest Ltd currently trades 60% 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 Fairvest Ltd (FTA)?
The closing price on Nov 2, 2026 was R19.70. Our model-based fair value is R49.25, about +150% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fairvest Ltd right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (R43.35). The market is more pessimistic than our downside scenario. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Fairvest Ltd

How large is the market capitalisation of Fairvest Ltd (FTA)?
The market capitalisation of Fairvest Ltd is 39.0B 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 Fairvest Ltd (FTA)?
The price-to-sales ratio of Fairvest Ltd is 7.24 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fairvest Ltd (FTA)?
Earnings per share at Fairvest Ltd are R1.83 (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fairvest Ltd (FTA)?
The dividend yield of Fairvest Ltd is 7.3% (payout 79.1%). 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 Fairvest Ltd (FTA)?
The net margin of Fairvest Ltd is 67.3% (fiscal year 2025). 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 Fairvest Ltd (FTA)?
The return on equity (ROE) of Fairvest Ltd is 15.9% (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 Fairvest Ltd (FTA)?
On an EBIT basis the return on assets of Fairvest Ltd is 7.9% (avg 4y). 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 Fairvest Ltd (FTA)?
The operating margin of Fairvest Ltd is 57.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fairvest Ltd (FTA)?
Revenue at Fairvest Ltd is growing +18.1% versus a year earlier (3y avg +58.2%). 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 Fairvest Ltd (FTA)?
Earnings per share at Fairvest Ltd are growing +10.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fairvest Ltd (FTA) generate?
The free cash flow of Fairvest Ltd is −505M ZAR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Fairvest Ltd (FTA) carry?
The net debt of Fairvest Ltd is 3.8B ZAR (fiscal year 2025). 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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