Investec Ltd (INL) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of Investec Ltd stock ZAR 21.45, price ZAR 133, that is 83.9% below the price, quality 50 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Investec Ltd
INL · JSEOur calculation puts a fair price 84% below what the stock costs today.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.
How to read this chart
60‑month range R35.77 – R144.00 · fair‑value band R19.10 – R26.53 · the R133.33 price screens above the R21.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 31, 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 Ltd (INL) currently trades at R133.33, while our model-based Fair Value estimate is R21.45, 83.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of R29.74 per share, and 0 of the 6 models we run sit above the R133.33 price.
Bear case: the Dividend Discount group reads lowest at R14.04, and 6 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: R19.10 (bear) to R26.53 (bull), the price of R133.33 sits above 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 50/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Investec Ltd reported revenue of 2.1B ZAR in FY2026 versus 1.9B ZAR in FY2022, a compound +3.1%/yr. Reported net income was 725M ZAR in FY2026, compounding +8.8%/yr from FY2022.
Key figures
Market cap 34.0B ZAR Mid · P/E ratio 14.5 · P/S ratio 4.95 · EPS (TTM) R9.17 · Dividend yield 1.0% · Net margin 34.1% · Return on equity 12.4% · Return on assets (EBIT) 2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −32% fair-value upside, at −84%, INL screens richer than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
INL screens overvalued: fair value 84% below the price. Compare with DBS Group →
Compare Investec Ltd with another stock
Price, fair value, quality and upside side by side.
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.Banks - Regional · 999 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Return on equity by industry
- Quality Score by industry
- Piotroski F-Score screener with fair value
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| China Merchants Bank Co 600036 | ¥43.18 | ¥52.73 | +22% | vs INL |
| BNP Paribas SA BNP | €87.04 | €106.06 | +22% | vs INL |
| Itaú Unibanco Holding ITUB | $7.13 | $6.90 | −3% | vs INL |
| Intesa Sanpaolo S.p.A ISP | €5.95 | €4.53 | −24% | vs INL |
| UniCredit S.p.A UCG | €74.40 | €50.44 | −32% | vs INL |
| Oversea-Chinese Banking Corporation O39 | 28.32 SGD | 18.20 SGD | −36% | vs INL |
| Mizuho Financial Group MFG | $9.66 | $5.92 | −39% | vs INL |
| HDFC Bank Limited HDFCBANK | ₹700.00 | ₹406.39 | −42% | vs INL |
| DBS Group D05 | 71.71 SGD | 40.39 SGD | −44% | vs INL |
| ICICI Bank Limited ICICIBANK | ₹1,387 | ₹615.63 | −56% | vs INL |
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Frequently asked questions
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Key figures of Investec Ltd
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