Balwin Properties Limited (BWN) Fair Value & Analysis
Real Estate · ZA · Market cap 2.0B ZAC
Fair value as of: Jul 20, 2026
From 16 valuation models · updated 22 days ago
Share price +1.7% over the past month.
A solid business, screening 76% undervalued on our models.
What matters now
- The price is below even our cautious bear case (R6.05). The market is more pessimistic than our downside scenario.
- Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (R6.05 to R11.06) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range R1.69 – R4.22 · fair‑value band R6.05 – R11.06 · the R4.20 price screens below the R7.38 fair value. Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Balwin Properties Limited (BWN) currently trades at R4.20, while our model-based Fair Value estimate is R7.38, implying the stock looks roughly 75.7% undervalued today. The Quality Score stands at 52/100 (solid 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: high), always confirm before acting.
Over the trailing twelve months, Balwin Properties Limited generated revenue of 2.7B ZAR at a net margin of 9.1%. Revenue grew 7.4% year over year. It earns a return on equity of 5.8%. Net debt stands at 3.0B ZAR. Fundamentals as of Jul 20, 2026
Our scenario range runs from R6.05 (bear case) to R11.06 (bull case); at R4.20, 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 Real Estate peers we cover trades at 32% fair-value upside, at 76%, BWN 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.
All 16 models by family
Widest divergence: Multiples (R8.85) versus Dividend Discount (R1.84). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 84
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
Balwin Properties Limited, together with its subsidiaries, engages in the development and sale of residential properties in South Africa. It operates through Sale of Apartments and Land; Provision of Services to Residential Estates; Bond Commission; Property Rentals; and Balwin Foundation segments. The company sells sectional title apartments.
Full company description
Balwin Properties Limited, together with its subsidiaries, engages in the development and sale of residential properties in South Africa. It operates through Sale of Apartments and Land; Provision of Services to Residential Estates; Bond Commission; Property Rentals; and Balwin Foundation segments. The company sells sectional title apartments. It also engages in various businesses, including fibre infrastructure and related services; mortgage bonds; manages and deploys renewable assets, solar PV systems, and wastewater treatment plants; security and access control supply and services; internet services; and maintenance services to body corporates. In addition, the company is involved in the art activities; operation on run series; rental of residential properties; investment and management of commercial properties; management of lifestyle amenities within developments; rental of digital advertising and cell tower infrastructure; online sale of sports equipment; and resale of previously owned Balwin apartments. Balwin Properties Limited was founded in 1996 and is based in Johannesburg, South Africa.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Balwin Properties Limited reported revenue of R2.7B in FY2026 versus R3.1B in FY2022, a compound −3.6%/yr. Reported net income was R245M in FY2026, compounding −9.3%/yr from FY2022.
of which total revenue +1.9 pp · buybacks/dilution −1.1 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Real Estate - Development · 588 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.
Valuation Multiples vs Real Estate - Development median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹657.75 | ₹159.49 | -76% |
| Lodha Developers Limited LODHA | ₹1,188 | ₹583.43 | -51% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,125 IDR | 1,330 IDR | -78% |
| Oberoi Realty Limited OBEROIRLTY | ₹1,925 | ₹1,183 | -39% |
| Godrej Properties Limited GODREJPROP | ₹2,102 | ₹1,044 | -50% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 555.00 IDR | 1,388 IDR | +150% |
| PT Sentul City Tbk, BKSL | 64.00 IDR | 84.16 IDR | +32% |
| PT Ciputra Development Tbk, CTRA | 555.00 IDR | 1,388 IDR | +150% |
| PT Duta Pertiwi Tbk DUTI | 4,100 IDR | 6,239 IDR | +52% |
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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.
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