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Adcorp Holdings (ADR) Fair Value & Analysis

Industrials · ZA · Market cap 669M ZAC

AH Adcorp Holdings ADR · JSE
PriceR6.90
Fair ValueR19.27
Upside+179.3%
Quality57/100
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Evidence: High Range R12.73 – R27.98

Fair value as of: Jul 18, 2026

From 24 valuation models · updated today

Share price +8.7% over the past month.

Price vs Fair Value (12 months)

R7.41 R5.41 Fair Value R19.27 Jul 2025 Jul 2026

12‑month range R5.41 – R7.41 · fair‑value band R12.73 – R27.98 · the R6.90 price screens below the R19.27 fair value. As of Jul 18, 2026.

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Analysis

Adcorp Holdings (ADR) currently trades at R6.90, while our model-based Fair Value estimate is R19.27, implying the stock looks roughly 179.3% undervalued today. We read business quality at 57/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Adcorp Holdings generated revenue of 12.5B ZAR at a net margin of 1.2%. Revenue declined 6.2% year over year. It earns a return on equity of 9.7%. The balance sheet holds a net cash position of 46.5M ZAR. Fundamentals as of Jul 18, 2026

Our scenario range runs from R12.73 (bear case) to R27.98 (bull case); at R6.90, the current price sits below that range. For context, the median of 10 Industrials peers we cover trades at 30% fair-value upside, at 179%, ADR screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 12.5B ZAC
Revenue growth (YoY) -6.2%
Net margin 1.2%
Return on equity 9.7%
Free cash flow 31.6M ZAC FY2026
P/E ratio 4.8
More key figures
Operating margin 1.7%
EPS (TTM) R1.36
EPS growth (YoY) -16.4%
Net cash 46.5M ZAC FY2026

Figures from reported company fundamentals (EODHD) · as of Jul 18, 2026. TTM = trailing twelve months.

About the company

Adcorp Holdings Limited provides workforce solutions in South Africa and Australia. The company operates through Contingent Staffing, Professional Services, Staffing Solutions, and Business Support segments. The Contingent Staffing segment offers industrial contingent staffing solutions to the blue-collar and healthcare personnel and skills development solutions. The Staffing Solutions segment offers productivity and process efficiencies services to FMCG, warehousing, telecommunications, and logistics sectors, as well as offers niche industrial and office cleaning services. The Professional Services segment provides ICT personnel resourcing; project management; temporary and permanent placement services for front and back-office professionals across multiple industries; and operates a fully digital marketplace for freelancers and hirers, as well as offers training for the Microsoft product suite. The Business Support segment offers finance, human resources, payroll, IT, legal, …

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Adcorp Holdings reported revenue of R12.5B in FY2026 versus R11.5B in FY2022, a compound +2.0%/yr. Reported net income was R146M in FY2026, compounding +5.8%/yr from FY2022.

Revenue +2.0%/yr
FY22 R11.5B
FY23 R12.0B
FY24 R13.0B
FY25 R13.2B
FY26 R12.5B
Net income +5.8%/yr
FY22 R116M
FY23 R121M
FY24 R86.2M
FY25 R139M
FY26 R146M

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Cite: Fair Value Calculator (2026). "Adcorp Holdings Fair Value". https://www.fairvalue-calculator.com/stock/ADR

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Frequently asked questions

Is Adcorp Holdings (ADR) undervalued?
As of Jul 18, 2026, our model estimates a fair value of R19.27 versus a price of R6.90, about +179% (undervalued). Model-based estimate, not financial advice.
What is the fair value of ADR?
Our model-based fair value for Adcorp Holdings is R19.27 (as of Jul 18, 2026), built from audited fundamentals. The current price is R6.90.
What is the quality score of ADR?
Adcorp Holdings has a Quality Score of 57/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Adcorp Holdings (ADR)?
Adcorp Holdings reported trailing-twelve-month revenue of about 12.5B ZAR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of ADR?
The net profit margin of Adcorp Holdings is about 1.2%, meaning it keeps roughly 1.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.