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STOCK COMPARISON

Amazon.com vs Naspers: Fair Value & Quality

Both stocks run through our valuation models. Here is how Amazon.com (AMZN) and Naspers (NPN) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Amazon.com as the less overvalued of the two: Amazon.com trades at $259 versus a fair value of $128 (-51%), while Naspers trades at ZAR 754 versus ZAR 208 (-72%).
Amazon.com
AMZN · USD · Consumer Discretionary
-51%
upside to fair value
overvalued
Price$259
Fair Value$128
Quality54/100
Naspers
NPN.JSE · ZAC · Communication Services
-72%
upside to fair value
overvalued
PriceZAR 754
Fair ValueZAR 208
Quality65/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Amazon.comNaspers
Valuation
29.3×P/E (TTM)8.5×
3.55×P/S (TTM)3.74×
6.42×P/B1.73×
16.8×EV/EBITDA78.2×
1.41×PEG239.09×
−50.7%Fair value upside−72.4%
—Dividend yield0.1%
—Dividend per shareZAR 0.06
Profitability
13%Operating margin3%
1.90×EBIT margin trend (5Y)—
24%Return on equity22%
7%Return on assets0%
Growth
17%Revenue growth (YoY)20%
11.7%Avg. growth/yr (3Y)17.9%
13.2%Avg. growth/yr (5Y)13.3%
+28.0%Value creation/yr+67.3%
Balance & size
35.2×Interest coverage (EBIT/interest)0.3×
0.16×Debt / equity0.66×
$2.6TMarket cap$41B
expensiveGrowth qualitymixed
Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

Amazon.com leads: 6 to 4 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Amazon.comof which business quality 55 · market factors 54 Naspersof which business quality 61 · market factors 31
ProfitabilityMargins and returns on capital today
65
47
Quality GrowthAre margins and returns improving?
52
61
CashflowEarnings quality: real cash, not paper profit
44
54
Fin. StrengthBalance sheet, leverage, solvency risk
80
46
InvestmentDisciplined investing over empire-building
3
76
Low VolatilityCalm price path (market factor)
42
70
MomentumPrice trend over the last 3–12 months (market factor)
56
22
52W MomentumDistance to the 52-week high (market factor)
63
0
Net IssuanceBuybacks instead of dilution
66
100

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyAmazon.comPrice $259NaspersPrice ZAR 754
DCF Models-40%below the price$155-97%below the priceZAR 25.17
Earnings-Based-29%below the price$184-91%below the priceZAR 66.91
Dividend Discountn/a-98%below the priceZAR 13.71
Multiples-50%below the price$129-89%below the priceZAR 80.48
Asset-Based-90%below the price$25.60-97%below the priceZAR 20.93
Growth DCF-73%below the price$69.38-97%below the priceZAR 18.93
Economic Profit-65%below the price$90.56-91%below the priceZAR 67.94
Growth Earnings-8%close to the price$239-84%below the priceZAR 119
Minimum-90%below the price$25.60-98%below the priceZAR 13.71
Maximum-8%close to the price$239-84%below the priceZAR 119
Median-50%below the price$129-94%below the priceZAR 46.04
Geometric mean-59%below the price$105-95%below the priceZAR 39.54

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Amazon.com: 23 of 24 models see the stock below the current price.

Naspers: 22 of 22 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Amazon.com
Bear $69.09Fair Value $128Bull $209
$259 = current price (white tick)
Naspers
Bear ZAR 152Fair Value ZAR 208Bull ZAR 318
ZAR 754 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Amazon.com · Consumer Discretionary

Quality score54 · above median
Fair value upside-51% · bottom 25%

Naspers · Communication Services

Quality score65 · Top 25%
Fair value upside-72% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Amazon.com as the less overvalued of the two: Amazon.com trades at $259 versus a fair value of $128 (-51%), while Naspers trades at ZAR 754 versus ZAR 208 (-72%).

Naspers has the higher quality score (65/100).

See the full analysis →
Amazon.com · Naspers

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.