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STOCK COMPARISON

Impala Platinum Holdings vs SAP: Fair Value & Quality

Both stocks run through our valuation models. Here is how Impala Platinum Holdings (IMP) and SAP (SAP) compare, as of Sep 6, 2026.

As of Sep 6, 2026, Fair Value Calculator sees Impala Platinum Holdings as the more attractively valued of the two: Impala Platinum Holdings trades at ZAR 242 versus a fair value of ZAR 288 (+19%), while SAP trades at €186 versus €170 (-9%).
Impala Platinum Holdings
IMP.JSE · ZAC · Materials
+19%
upside to fair value
undervalued
PriceZAR 242
Fair ValueZAR 288
Quality57/100
SAP
SAP.XETRA · EUR · Information Technology
-9%
upside to fair value
fairly valued
Price€186
Fair Value€170
Quality81/100
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Head-to-head numbers

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

Impala Platinum HoldingsSAP
Valuation
19.4×P/E (TTM)22.1×
1.53×P/S (TTM)5.01×
1.73×P/B4.18×
6.8×EV/EBITDA15.8×
125.20×PEG1.37×
+19.0%Fair value upside−8.7%
2.4%Dividend yield1.3%
ZAR 5.75Dividend per share€2.50
Profitability
22%Operating margin30%
0.08×EBIT margin trend (5Y)1.16×
8%Return on equity16%
6%Return on assets9%
Growth
44%Revenue growth (YoY)6%
-10.3%Avg. growth/yr (3Y)6.0%
4.1%Avg. growth/yr (5Y)6.1%
−43.8%Value creation/yr+8.8%
Balance & size
5.5×Interest coverage (EBIT/interest)7.5×
0.01×Debt / equity0.09×
$10BMarket cap$187B
weakGrowth qualityhealthy
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.

SAP leads: 3 to 9 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.

Impala Platinum Holdingsof which business quality 53 · market factors 45 SAPof which business quality 78 · market factors 45
ProfitabilityMargins and returns on capital today
20
62
Quality GrowthAre margins and returns improving?
54
76
CashflowEarnings quality: real cash, not paper profit
39
80
Fin. StrengthBalance sheet, leverage, solvency risk
73
79
InvestmentDisciplined investing over empire-building
89
94
Low VolatilityCalm price path (market factor)
26
61
MomentumPrice trend over the last 3–12 months (market factor)
49
43
52W MomentumDistance to the 52-week high (market factor)
59
28
Net IssuanceBuybacks instead of dilution
66
84

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 familyImpala Platinum HoldingsPrice ZAR 242SAPPrice €186
DCF Models-84%below the priceZAR 38.78-20%below the price€149
Earnings-Based-95%below the priceZAR 11.76-68%below the price€60.32
Dividend Discount-88%below the priceZAR 28.38-78%below the price€41.03
Multiples-88%below the priceZAR 30.25-21%below the price€147
Asset-Based-72%below the priceZAR 68.30-86%below the price€25.68
Growth DCF-91%below the priceZAR 21.24-30%below the price€131
Economic Profit-80%below the priceZAR 48.43-62%below the price€69.81
Growth Earnings-95%below the priceZAR 13.08-16%below the price€156
Minimum-95%below the priceZAR 11.76-86%below the price€25.68
Maximum-72%below the priceZAR 68.30-16%below the price€156
Median-88%below the priceZAR 29.32-46%below the price€100
Geometric mean-89%below the priceZAR 27.83-56%below the price€81.68

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%.

Impala Platinum Holdings: 25 of 25 models see the stock below the current price.

SAP: 24 of 26 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.

Impala Platinum Holdings
Bear ZAR 175Fair Value ZAR 288Bull ZAR 366
ZAR 242 = current price (white tick)
SAP
Bear €104Fair Value €170Bull €220
€186 = 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.

Impala Platinum Holdings · Materials

Quality score57 · above median
Fair value upside+19% · Top 25%

SAP · Information Technology

Quality score81 · Top 25%
Fair value upside-9% · above median

Bottom line

As of Sep 6, 2026, Fair Value Calculator sees Impala Platinum Holdings as the more attractively valued of the two: Impala Platinum Holdings trades at ZAR 242 versus a fair value of ZAR 288 (+19%), while SAP trades at €186 versus €170 (-9%).

SAP has the higher quality score (81/100).

See the full analysis →
Impala Platinum Holdings · SAP

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