Bell Equipment Limited (BLLQF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Bell Equipment Limited $5.20, price $2.35, upside +121.3%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Bell Equipment Limited
BLLQF · USClearly undervaluedStrong Fair Value upside, but quality is only moderate.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $0.3273 – $2.59 · fair‑value band $3.90 – $6.50 · the $2.35 price screens below the $5.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
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.
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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 forestry and agriculture industries. In addition, the company offers aftermarket products and services; spare parts, lubricants, and service kits; apprentice, operator, and technical training services; care packages and extended cover; product support services; and Fleetm@tic, a fleet management tool. It sells its products under the BELL, JCB, KOBELCO, and FINLAY brands through a network of customer service centers and independent dealers. The company was founded in 1954 and is based in Richards Bay, South Africa. Bell Equipment Limited is a subsidiary of I A Bell and Company (Pty) Limited.
Stock analysis
Bell Equipment Limited (BLLQF) currently trades at $2.35, while our model-based Fair Value estimate is $5.20, implying the stock looks roughly 54.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $6.69 per share, and 22 of the 24 models we run sit above the $2.35 price.
Bear case: the Earnings-Based group reads lowest at $2.15, and 2 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: $3.90 (bear) to $6.50 (bull), the price of $2.35 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bell Equipment Limited reported revenue of 11.2B ZAR in FY2025 versus 8.0B ZAR in FY2021, a compound +8.6%/yr. Reported net income was 384M ZAR in FY2025, compounding +7.6%/yr from FY2021.
Key figures
Market cap $225M · P/E ratio 10.2 · P/S ratio 0.35 · EPS (TTM) $0.2300 · Net margin 3.4% · Return on equity 6.5% · Return on assets (EBIT) 8.0% · Operating margin 5.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 85% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at 121%, BLLQF screens cheaper than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 74
Revenue & earnings trend
Growth Forecast
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Compare Bell Equipment Limited with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Farm & Heavy Construction Machinery · 145 stocks
Valuation Multiplesvs Farm & Heavy Construction Machinery median · lower = cheaper
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Caterpillar Inc CAT | $810.79 | $308.45 | −62% |
| Deere & Company DE | $671.55 | $258.17 | −62% |
| PACCAR Inc PCAR | $109.81 | $120.79 | +10% |
| Daimler Truck Holding DTG | €42.54 | €50.36 | +18% |
| Sany Heavy Industry Co 600031 | ¥17.20 | ¥20.84 | +21% |
| CNH Industrial N.V CNH | $13.06 | $8.65 | −34% |
| Traton SE 8TRA | €34.04 | €32.82 | −4% |
| Metso Oyj METSO | €17.08 | €18.79 | +10% |
| XCMG Construction Machinery Co 000425 | ¥7.17 | ¥14.52 | +103% |
| Sinotruk (Hong Kong) Limited 3808 | HK$35.30 | HK$56.32 | +60% |
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Key figures of Bell Equipment Limited
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