Raubex (RBX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Raubex stock ZAR 106, price ZAR 44.17, upside +140.3%, quality 51 out of 100. Rating: strongly 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 7, 2026.
How to read this chart
60‑month range R20.75 – R57.97 · fair‑value band R49.32 – R160.01 · the R44.17 price screens below the R106.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Raubex Group Limited engages in the infrastructure development and construction materials business in South Africa, Australia, rest of Africa, and internationally.
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The company operates through four segments: Materials Handling and Mining, Construction Materials, Roads and Earthworks, and Infrastructure.
The Materials Handling and Mining segment is involved in the contract mining; contract crushing; materials handling and processing services for the mining industry.
The Construction Materials segment produces and supplies aggregates from commercial quarries, asphalt, and value-added bituminous products.
The Roads and Earthworks segment is involved in the road construction and earthworks, and road surfacing and rehabilitation activities, including laying of asphalt, chip and spray, surface dressing, enrichments, and slurry seals.
The Infrastructure segment undertakes infrastructure projects, which includes renewable energy, telecommunications, facilities management, housing infrastructure, and commercial building refurbishment and construction projects.
Raubex Group Limited was founded in 1974 and is headquartered in Bloemfontein, South Africa.
Stock analysis
Raubex (RBX) currently trades at R44.17, while our model-based Fair Value estimate is R106.16, implying the stock looks roughly 58% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of R142.20 per share, and 18 of the 25 models we run sit above the R44.17 price.
Bear case: the Growth DCF group reads lowest at R15.28, and 7 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: R49.32 (bear) to R160.01 (bull), the price of R44.17 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 51/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Raubex reported revenue of 22.0B ZAR in FY2026 versus 11.6B ZAR in FY2022, a compound +17.5%/yr. Reported net income was 1.1B ZAR in FY2026, compounding +18.7%/yr from FY2022.
Key figures
Market cap 8.1B ZAR Small · P/E ratio 7.4 · P/S ratio 0.37 · EPS (TTM) R5.94 · Dividend yield 4.6% · Net margin 5.0% · Return on equity 15.5% · Return on assets (EBIT) 10.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 140%, RBX screens cheaper than that median.
Fair Value models
BearR49.32Fair Value R106.16BullR160.01
Price R44.17 · Upside +140.3%
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 8 months old). Earnings retained since then (2.75 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.6%
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.
+12.9%
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.
+20.0%
Start year 2021 (pandemic). Over 10 years: +10.8% a year
Revenue growth 22 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.
+16.9%
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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.
+38.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+34.0%
Dividend (yield on the price)4.6%
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.34.0% vs 11.0%, picking up
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.4% → 8%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
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).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
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.Engineering & Construction · 791 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+140.3% · Top 25%
Profitability
Return on equity (12 months)15.5% · Top 25%
Return on assets6.7% · Top 25%
Net margin (12 months)5.0% · Above median
Operating margin (12 months)10.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)10.7% · Above median
Dividend yield (12 months)4.6% · Top 25%
Balance sheet
Debt / equity0.19× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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). "Raubex Fair Value". https://www.fairvalue-calculator.com/stock/RBX
Frequently asked questions
Is Raubex (RBX) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of R106.16 versus a price of R44.17, about +140% upside (undervalued).
What is the fair value of RBX?
Our model-based fair value for Raubex is R106.16 (as of Nov 7, 2026), built from audited fundamentals. The current price: R44.17.
What is the quality score of RBX?
Raubex has a Quality Score of 51/100. 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 Raubex (RBX)?
Our model-based price target is the fair value of R106.16 (as of Nov 7, 2026) from 25 valuation models. Cautious scenario R49.32, optimistic scenario R160.01. It is a calculation from audited fundamentals, not an analyst target.
What is the Raubex stock forecast for 2026?
Our models put fair value at R106.16, about +140% upside versus a price of R44.17 (undervalued). Cautious scenario R49.32, optimistic scenario R160.01. The calculation is refreshed regularly with new filings.
What is the revenue of Raubex (RBX)?
Raubex reported trailing-twelve-month revenue of about 22.0B ZAR (latest available figure, as of Nov 7, 2026).
Does Raubex pay a dividend?
Raubex currently shows a dividend yield of 4.57% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Raubex (RBX) and when is the ex-dividend date?
Raubex pays a dividend of R2.02 per share a year, a dividend yield of 4.6%. The last ex-dividend date was May 27, 2026. The payout ratio is 33.8% of earnings. Free cash flow covers the dividend 0.04 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Raubex (RBX)?
For today's price to be fair in a discounted-cash-flow model, Raubex would have to grow free cash flow by more than 80 % 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 +20.0 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of RBX use?
Our models discount Raubex at 13.4 %: a base by market capitalisation (small), damped by beta 0.27, 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 Raubex that is more than 80 % 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 Raubex (RBX) delivered so far?
Over the past 5 years revenue at Raubex grew +20.0 % a year. The price currently implies free-cash-flow growth of more than 80 % 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 Raubex (RBX) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Raubex (more than 80 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Raubex (RBX)?
The free-cash-flow yield on the price is 0.17 %: that much free cash flow Raubex 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 Raubex (RBX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Raubex it is R106.16 per share (as of Nov 7, 2026), against a price of R44.17. 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 Raubex stock overvalued or undervalued in 2026?
As of Nov 7, 2026, RBX trades below its calculated fair value: price R44.17, fair value R106.16, a gap of about +140% (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 RBX?
No. The price is what the market pays today (R44.17); the fair value is what the company's own numbers justify (R106.16). For Raubex the two are R61.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Raubex worth?
The market values Raubex at about 8.1B ZAR (market capitalisation, as of Nov 7, 2026). Per share that is R44.17; our models calculate a fair value of R106.16 per share.
What do the bullish and bearish scenarios say about RBX?
Our models span a range for Raubex: cautious scenario R49.32, base R106.16, optimistic R160.01 per share (as of Nov 7, 2026, price R44.17). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RBX?
Raubex trades at a price-to-earnings ratio of 7.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R106.16 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: 10.9. Other multiples: P/B 1.1, P/S 0.4, EV/EBITDA 3.0.
How solid is the balance sheet of Raubex (RBX)?
Balance-sheet figures for Raubex (as of Nov 7, 2026): return on equity 15.5%, debt of 0.19 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is RBX from its 52-week high?
Raubex trades at R44.17, about 23% below its 52-week high of R57.05 and 13% above the low of R39.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of R106.16 is for.
Which stocks are comparable to Raubex?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, 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 Raubex stock attractive at the current price?
The data as of Nov 7, 2026: price R44.17, calculated fair value R106.16 (+140%), Quality Score 51/100, 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 RBX calculated?
We run Raubex 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 R106.16 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. Raubex currently trades 58% 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 Raubex (RBX)?
The closing price on Nov 6, 2026 was R44.17. Our model-based fair value is R106.16, about +140% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Raubex right now?
The price is below even our cautious bear case (R49.32). The market is more pessimistic than our downside scenario. The model range is unusually wide (R49.32 to R160.01). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Raubex (RBX) come from?
Earnings per share at Raubex grew +11.0 % a year from 2015 to 2026. Broken into its drivers: revenue per share +11.1 %, EBIT margin −0.3 %, tax rate +0.3 %, 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 Raubex
How large is the market capitalisation of Raubex (RBX)?
The market capitalisation of Raubex is 8.1B 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 Raubex (RBX)?
The price-to-sales ratio of Raubex is 0.37 (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 Raubex (RBX)?
Earnings per share at Raubex are R5.94 (price ÷ EPS = P/E 7.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Raubex (RBX)?
The dividend yield of Raubex is 4.6% (payout 34.0%). 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 Raubex (RBX)?
The net margin of Raubex is 5.0% (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 Raubex (RBX)?
The return on equity (ROE) of Raubex is 15.5% (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 Raubex (RBX)?
On an EBIT basis the return on assets of Raubex is 10.7% (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 Raubex (RBX)?
The operating margin of Raubex is 10.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Raubex (RBX)?
Revenue at Raubex is growing +10.7% versus a year earlier (3y avg +12.9%). 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 Raubex (RBX)?
Earnings per share at Raubex are growing +13.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Raubex (RBX) carry?
The net debt of Raubex is 975M ZAR (fiscal year 2026, ≈ 70.4 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 7, 2026