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Brikor Limited (BIK) Fair Value & Analysis

Basic Materials · ZA · Market cap 132M ZAC

BL Brikor Limited BIK · JSE
PriceR0.1600
Fair ValueR0.2400
Upside+50.0%
Quality44/100
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Mixed Growth
Loss-making · -3.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/12)
Narrow moat 21/100
Evidence: Medium Range R0.1800 – R0.3200 Share as image

Fair value as of: Jul 18, 2026

From 11 valuation models · updated 24 days ago

Fair value updated Jul 18, 2026, revised from R0.1200 to R0.2400 (+100.0%) since Jun 26, 2026.

Below-average quality, screening 50% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (R0.1800). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

R1.99 R0.0010 Fair Value R0.2400 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range R0.0010 – R1.99 · fair‑value band R0.1800 – R0.3200 · the R0.1600 price screens below the R0.2400 fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Brikor Limited (BIK) currently trades at R0.1600, while our model-based Fair Value estimate is R0.2400, implying the stock looks roughly 50.0% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Basic Materials 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, Brikor Limited generated revenue of 326M ZAR at a net margin of -7.7%. Revenue declined 24.4% year over year. It earns a return on equity of -23.5%. Net debt stands at 16.9M ZAR. Fundamentals as of Jul 18, 2026

Our scenario range runs from R0.1800 (bear case) to R0.3200 (bull case); at R0.1600, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 50%, BIK screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF R0.0500 R0.0600 R0.0800 80
Rev-Margin DCF R0.0500 R0.0800 R0.1100 74
EV/EBITDA R0.1000 R0.1300 R0.1700 54
All 11 models by family
DCF Models
FCF DCF R0.0500 R0.0600 R0.0800 38
Owner Earnings R0.1100 R0.1400 R0.1800 31
5Y Revenue Exit R0.0500 R0.0800 R0.1100 39
5Y EBITDA Exit R0.0700 R0.1100 R0.1500 41
10Y Revenue Exit R0.0500 R0.0700 R0.0900 36
10Y EBITDA Exit R0.0600 R0.0900 R0.1200 37
Multiples
EV/EBITDA R0.1000 R0.1300 R0.1700 54
EV/Revenue R0.0600 R0.0900 R0.1200 43
Asset-Based
NCAV (Graham) R0.0600 R0.0800 R0.1200 50
Growth DCF
Growth DCF R0.0500 R0.0600 R0.0800 80
Rev-Margin DCF R0.0500 R0.0800 R0.1100 74

Widest divergence: Multiples (R0.0900) versus Growth DCF (R0.0600). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 326M ZAC
Revenue growth (YoY) -24.4%
Net margin -7.7%
Return on equity -23.5%
Free cash flow 6.2M ZAC FY2026
Operating margin -8.4%
More key figures
EPS (TTM) R-0.0300
EPS growth (YoY) -63.5%
Net debt 16.9M ZAC FY2026

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

Quality Score breakdown

Overall quality 44/100

Of which business quality 43 · Market factors (momentum, volatility) 63

Profitability 19
Margins and returns on capital today
Quality Growth 11
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Brikor Limited, together with its subsidiaries, manufactures and supplies building and construction materials in the Republic of South Africa. It operates through Bricks and Coal segments.

Full company description

Brikor Limited, together with its subsidiaries, manufactures and supplies building and construction materials in the Republic of South Africa. It operates through Bricks and Coal segments. The company offers clay bricks, clay minerals, and related ancillary products that include bricks pallets and wrapping for housing, residential, commercial, industrial, civil engineering, and infrastructure projects. It also provides coal minerals and related transportation services. The company was founded in 1994 and is based in Nigel, South Africa. Brikor Limited operates as a subsidiary of Nikkel Trading 392 (Proprietary) Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Brikor Limited reported revenue of R318M in FY2026 versus R273M in FY2022, a compound +3.9%/yr. Reported net income was −R9.9M in FY2026.

Growth Quality 33/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
318M ZAR
Latest YoY
−16.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.3%
Avg. growth/yr (18Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.1%
Revenue +3.9%/yr
FY22 R273M
FY23 R312M
FY24 R351M
FY25 R381M
FY26 R318M
Net income
FY22 R2.8M
FY23 −R5.9M
FY24 R8.2M
FY25 −R2.6M
FY26 −R9.9M

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Cite: Fair Value Calculator (2026). "Brikor Limited Fair Value". https://www.fairvalue-calculator.com/stock/BIK

Peer Group

Building Materials · 253 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 44 · Below median
Fair Value upside +50% · Top 25%
Return on assets -0% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) 8% · Above median
Revenue growth -5% · Below median
Debt / equity 0.07× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/B 0.08× · Cheaper than 75% of peers
P/S (TTM) 0.03× · Cheaper than 75% of peers
P/FCF 1.3× · Cheaper than median
EV/EBITDA 1.5× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 27
FUTURE 0 · sector 2
PAST 0 · sector 15
HEALTH 96 · sector 92
DIVIDEND 0 · sector 42

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Brikor Limited (BIK) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of R0.2400 versus a price of R0.1600, about +50% (undervalued).
What is the fair value of BIK?
Our model-based fair value for Brikor Limited is R0.2400 (as of Jul 18, 2026), built from audited fundamentals. The current price is R0.1600.
What is the quality score of BIK?
Brikor Limited has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Brikor Limited (BIK)?
Brikor Limited reported trailing-twelve-month revenue of about 326M ZAR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of BIK?
The net profit margin of Brikor Limited is about -7.7%, meaning it is currently running at a net loss. 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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