Bell Equipment Limited (BEL) Fair Value & Analysis
Industrials · ZA · Market cap 3.7B ZAC
Fair value as of: Jun 26, 2026
From 26 valuation models · updated 3 days ago
Share price −16.8% over the past month.
Price vs Fair Value (12 months)
12‑month range R36.49 – R48.60 · fair‑value band R63.27 – R105.45 · the R36.49 price screens below the R84.36 fair value. As of Jun 26, 2026.
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Bell Equipment Limited (BEL) currently trades at R36.49, while our model-based Fair Value estimate is R84.36 — implying the stock looks roughly 131.2% undervalued today. We read business quality at 93/100 (high 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, Bell Equipment Limited generated revenue of 6.2B ZAR at a net margin of -1.5%. Revenue declined 5.1% year over year. It earns a return on equity of 6.5%. Net debt stands at 305M ZAR. Fundamentals as of Jun 26, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.
About the company
Bell Equipment Limited designs, manufactures, exports, distributes, and supports a range of heavy equipment for the mining and quarrying, construction, forestry, agriculture, and industry sectors in South Africa, Rest of Africa, and Europe. It operates through two segments, Manufacturing, Assembly, Logistics and Dealer Sales Operations and Direct Sales Operations. The company offers articulated dump trucks (ADT), water tankers, motor graders, tracked carriers, and articulated haulers; backhoe, skid steer, and wheel loaders; compaction; excavators, telehandlers, and rough terrain forklifts; and crushers, screeners, and conveyors for the mining and construction industries. It also provides forklifts and versalifts, haulage tractors, loggers and cane loaders, logpro and canepro, skoggers, slew loaders, and timber trucks; telecopic wheel loaders and loadalls; and attachments comprising cross-cut grapples, felling and harvesting heads, pickaroons, and stem and timber grapples for the for…
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Bell Equipment Limited reported revenue of R11.2B in FY2025 versus R8.0B in FY2021, a compound +8.6%/yr. Reported net income was R384M in FY2025, compounding +7.6%/yr from FY2021.
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Similar stocks
6 more Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Caterpillar Inc CAT | $1,022 | $307.83 | -70% |
| Deere & Company DE | $598.59 | $186.23 | -69% |
| Sany Heavy Industry Co SNHIY | $11.25 | $2.82 | -75% |
| AB Volvo (publ), VLVLY | $33.51 | $27.98 | -17% |
| PACCAR Inc PCAR | $120.12 | $94.80 | -21% |
| Toyota Industries Corporation TYIDF | $128.00 | $89.56 | -30% |
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Frequently asked questions
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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.