Remgro Ltd (REM) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of Remgro Ltd stock ZAR 93.18, price ZAR 209, that is 55.5% below the price, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range R97.97 – R209.97 · fair‑value band R74.94 – R111.37 · the R209.39 price screens above the R93.18 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 1, 2026.
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Remgro Limited is a principal investment firm. The firm prefers to invest in financial services, food, liquor and home care, banking, insurance, industrial, healthcare, infrastructure, information technology infrastructure services, media, and sport.
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It considers investments in Africa, UAE, UK, Switzerland and other international countries though investee companies. The firm typically invests in companies with significant influence and board representation.
It mainly focuses on the provision of support rather than on being involved in the day-to-day management of business units of investees. Remgro Limited was founded in 1948 and is based in Stellenbosch, South Africa.
Stock analysis
Remgro Ltd (REM) currently trades at R209.39, while our model-based Fair Value estimate is R93.18, 55.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of R136.24 per share, and 1 of the 13 models we run sit above the R209.39 price.
Bear case: the Earnings-Based group reads lowest at R20.89, and 12 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: R74.94 (bear) to R111.37 (bull), the price of R209.39 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 60/100 (solid quality), in the Financial Services sector.
Mixed Growth: Spin-off in 2016: revenue and profit before it include the divested business. Growth is measured afresh from 2016.
Remgro Ltd reported revenue of 51.0B ZAR in FY2026 versus 76.7B ZAR in FY2022, a compound −9.7%/yr. Reported net income was 1.4B ZAR in FY2026, compounding −22.6%/yr from FY2022.
Key figures
Market cap 117B ZAR Mid · P/E ratio 79.6 · P/S ratio 2.91 · EPS (TTM) R2.51 · Dividend yield 2.8% · Net margin 2.8% · Return on equity 1.5% · Return on assets (EBIT) 2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −18% fair-value upside, at −55%, REM screens richer than that median.
Fair Value models
BearR74.94Fair Value R93.18BullR111.37
Price R209.39 · Downside -55.5%
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.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.55/100
Spin-off in 2016: revenue and profit before it include the divested business. Growth is measured afresh from 2016.
Revenue growth 1 year
−3.7%
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.
+0.5%
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.
−5.1%
Start year 2021 (pandemic). Over 10 years: +6.3% a year
Revenue growth 10 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.
+6.3%
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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. 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.
−9.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.8%
Dividend (yield on the price)2.8%
Per share before 2016divided by the spin-off factor 1.0187
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.−16.2% vs −16.2%, 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.9% → 6%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+5.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Africa: IMF forecast 3.3% a year to 2030, 4.9% from 2016 to 2025) that is about +2.3% a year for the 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.Asset Management · 589 stocks
Beats the industry median on 3/15 measures
Overall it trails its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−55.5% · Bottom 25%
Profitability
Return on equity (12 months)1.5% · Below median
Return on assets1.3% · Below median
Net margin (12 months)3.6% · Bottom 25%
Operating margin (12 months)7.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−1.2% · Below median
Dividend yield (12 months)2.8% · Below median
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)79.6× · Priciest 25%
P/B0.97× · Pricier than median
P/S (12 months)2.91× · Cheaper than median
Price / free cash flow19.5× · Pricier than median
EV/EBITDA27.0× · Priciest 25%
PEG226.49× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 59
FUTURE (revenue growth)0· sector 43
PAST (return on equity)6· sector 30
HEALTH (low debt)98· sector 96
DIVIDEND (yield)57· sector 81
VALUE 0: the price sits above our fair-value range.
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). "Remgro Ltd Fair Value". https://www.fairvalue-calculator.com/stock/REM
Frequently asked questions
Is Remgro Ltd (REM) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of R93.18 versus a price of R209.39, about 55% lower (overvalued).
What is the fair value of REM?
Our model-based fair value for Remgro Ltd is R93.18 (as of Nov 1, 2026), built from audited fundamentals. The current price: R209.39.
What is the quality score of REM?
Remgro Ltd has a Quality Score of 60/100. 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 Remgro Ltd (REM)?
Our model-based price target is the fair value of R93.18 (as of Nov 1, 2026) from 13 valuation models. Cautious scenario R74.94, optimistic scenario R111.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Remgro Ltd stock forecast for 2026?
Our models put fair value at R93.18, about 55% lower versus a price of R209.39 (overvalued). Cautious scenario R74.94, optimistic scenario R111.37. The calculation is refreshed regularly with new filings.
What is the revenue of Remgro Ltd (REM)?
Remgro Ltd reported trailing-twelve-month revenue of about 51.0B ZAR (latest available figure, as of Nov 1, 2026).
Does Remgro Ltd pay a dividend?
Remgro Ltd currently shows a dividend yield of 2.84% relative to its recent price (as of Nov 1, 2026).
What growth is priced into Remgro Ltd (REM)?
For today's price to be fair in a discounted-cash-flow model, Remgro Ltd would have to grow free cash flow by +5.6 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -5.1 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of REM use?
Our models discount Remgro Ltd at 11.9 %: a base by market capitalisation (mid), damped by beta 0.32, 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 Remgro Ltd that is +5.6 % per year a year over ten years, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has Remgro Ltd (REM) delivered so far?
Over the past 5 years revenue at Remgro Ltd grew -5.1 % a year. The price currently implies +5.6 % per year free-cash-flow growth a 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 Remgro Ltd (REM) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into Remgro Ltd (+5.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Remgro Ltd (REM)?
The free-cash-flow yield on the price is 6.53 %: that much free cash flow Remgro Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Remgro Ltd (REM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Remgro Ltd it is R93.18 per share (as of Nov 1, 2026), against a price of R209.39. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Remgro Ltd stock overvalued or undervalued in 2026?
As of Nov 1, 2026, REM trades above its calculated fair value: price R209.39, fair value R93.18, a gap of about −55% (overvalued). 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 REM?
No. The price is what the market pays today (R209.39); the fair value is what the company's own numbers justify (R93.18). For Remgro Ltd the two are R116.21 per share apart. That gap is exactly why we show both numbers side by side.
How much is Remgro Ltd worth?
The market values Remgro Ltd at about 117B ZAR (market capitalisation, as of Nov 1, 2026). Per share that is R209.39; our models calculate a fair value of R93.18 per share.
What do the bullish and bearish scenarios say about REM?
Our models span a range for Remgro Ltd: cautious scenario R74.94, base R93.18, optimistic R111.37 per share (as of Nov 1, 2026, price R209.39). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of REM?
Remgro Ltd trades at a price-to-earnings ratio of 79.6 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R93.18 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2026), reported earnings: 17.9. Other multiples: PEG 226.5, P/B 1.0, P/S 2.9, EV/EBITDA 27.0.
What is the PEG ratio of REM?
The PEG ratio of Remgro Ltd is 226.49 (P/E divided by earnings growth, as of Nov 1, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Remgro Ltd (REM)?
Balance-sheet figures for Remgro Ltd (as of Nov 1, 2026): return on equity 1.5%, debt of 0.03 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is REM from its 52-week high?
Remgro Ltd trades at R209.39, at its 52-week high of R209.97 and 24% above the low of R168.69 (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of R93.18 is for.
Which stocks are comparable to Remgro Ltd?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, 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 Remgro Ltd stock attractive at the current price?
The data as of Nov 1, 2026: price R209.39, calculated fair value R93.18 (−55%), Quality Score 60/100, from 13 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 REM calculated?
We run Remgro Ltd through 13 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 R93.18, 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 14.9 % above its aggregate fair value. Remgro Ltd itself currently trades above fair value. 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 Remgro Ltd (REM)?
The closing price on Nov 2, 2026 was R209.39. Our model-based fair value is R93.18, about 55% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Remgro Ltd right now?
The price sits above even our optimistic bull case (R111.37). The favourable scenario is already priced in. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Remgro Ltd (REM) come from?
Earnings per share at Remgro Ltd grew −15.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share +7.2 %, EBIT margin −0.3 %, tax rate −4.1 %, residual (interest, one-offs) −17.4 %. 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 Remgro Ltd
How large is the market capitalisation of Remgro Ltd (REM)?
The market capitalisation of Remgro Ltd is 117B 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 Remgro Ltd (REM)?
The price-to-sales ratio of Remgro Ltd is 2.91 (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 Remgro Ltd (REM)?
Earnings per share at Remgro Ltd are R2.51 (price ÷ EPS = P/E 79.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Remgro Ltd (REM)?
The dividend yield of Remgro Ltd is 2.8%. 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 Remgro Ltd (REM)?
The net margin of Remgro Ltd is 2.8% (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 Remgro Ltd (REM)?
The return on equity (ROE) of Remgro Ltd is 1.5% (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 Remgro Ltd (REM)?
On an EBIT basis the return on assets of Remgro Ltd is 2.2% (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 Remgro Ltd (REM)?
The operating margin of Remgro Ltd is 7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Remgro Ltd (REM)?
Revenue at Remgro Ltd is growing −1.2% versus a year earlier (3y avg +0.5%). 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 Remgro Ltd (REM)?
Earnings per share at Remgro Ltd are growing +41.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Remgro Ltd (REM) hold?
Remgro Ltd holds more cash than debt, 10.1B ZAR net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 1, 2026