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Attacq Limited (ATT) Fair Value & Analysis

Real Estate · ZA · Market cap 11.7B ZAC

AL Attacq Limited ATT · JSE
PriceR17.50
Fair ValueR27.22
Upside+55.5%
Quality83/100
Evidence: Medium Range R17.89 – R44.10

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Jun 26, 2026 — revised from R35.56 to R27.22 (−23.5%) since Jun 24, 2026. Share price +3.7% over the past month.

Price vs Fair Value (12 months)

R18.52 R13.84 Fair Value R27.22 Jun 2025 Jun 2026

12‑month range R13.84 – R18.52 · fair‑value band R17.89 – R44.10 · the R17.50 price screens below the R27.22 fair value. As of Jun 26, 2026.

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Analysis

Attacq Limited (ATT) currently trades at R17.50, while our model-based Fair Value estimate is R27.22 — implying the stock looks roughly 55.5% undervalued today. We read business quality at 83/100 (high quality), in the Real Estate 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: medium) — always confirm before acting.

Over the trailing twelve months, Attacq Limited generated revenue of 3.0B ZAR at a net margin of 47.7%. Revenue grew 8.9% year over year. It earns a return on equity of 10.8%. Net debt stands at 7.2B ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 3.0B ZAC
Revenue growth (YoY) +8.9%
Net margin 47.7%
Return on equity 10.8%
Free cash flow 922M ZAC FY2025
P/E ratio 8.3
More key figures
Operating margin 49.7%
EPS (TTM) R2.01
Dividend yield 0.1%
EPS growth (YoY) -9.0%
Net debt 7.2B ZAC FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Attacq Limited is a South African Real Estate Investment Trust (REIT), listed on the JSE Limited (JSE) and A2X Markets. Attacq's purpose is to be a trusted, innovative and client-focused real estate precinct developer and owner, creating vibrant, people-first places that function effectively and unlock long-term sustainable growth, turning space into strategic advantage. Attacq's vision for the future, Horizon 2030, is centred around being a purpose-driven business, with 2026 focusing on the theme TRANSFORM as part of its broader mission to THRIVE, TRANSFORM, and TRANSCEND. Attacq's focus is on business drivers (1) Waterfall City, comprising its completed real estate portfolio, developments under construction and leasehold land; (2) Rest of South Africa, comprising the remainder of its South African completed real estate portfolio. Attacq' clear vision is supported by the strategic enablers of (1) Long-term growth through a sound capital structure; (2) A people-centric approach; (3)…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Attacq Limited reported revenue of R2.9B in FY2025 versus R2.4B in FY2021, a compound +5.2%/yr. Reported net income was R1.5B in FY2025, compounding +76.7%/yr from FY2021.

Revenue +5.2%/yr
FY21 R2.4B
FY22 R2.5B
FY23 R2.5B
FY24 R2.6B
FY25 R2.9B
Net income +76.7%/yr
FY21 R154M
FY22 R1.2B
FY23 R520M
FY24 R950M
FY25 R1.5B

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Goodman Group GMGSF $21.70 $4.84 -78%
VICI Properties Inc VICI $26.72 $41.74 +56%
W. P. Carey Inc WPC $72.30 $55.97 -23%
Stockland STKAF $3.00 $2.58 -14%
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Frequently asked questions

Is Attacq Limited (ATT) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R27.22 versus a price of R17.50 — about +56% (undervalued). Model-based estimate, not financial advice.
What is the fair value of ATT?
Our 21-model fair value for Attacq Limited is R27.22 (as of Jun 26, 2026), built from audited fundamentals. The current price is R17.50.
What is the quality score of ATT?
Attacq Limited has a Quality Score of 83/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Attacq Limited (ATT)?
Attacq Limited reported trailing-twelve-month revenue of about 3.0B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of ATT?
The net profit margin of Attacq Limited is about 47.7%, meaning it keeps roughly 47.7% of revenue as net income. Based on the latest reported figures.
Does Attacq Limited pay a dividend?
Attacq Limited currently shows a dividend yield of about 0.05% relative to its recent price (as of Jun 26, 2026).

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.

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