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Coronation Fund Managers Limited (CML) Fair Value & Analysis

Financial Services · ZA · Market cap 15.1B ZAC

CF Coronation Fund Managers Limited CML · JSE
PriceR39.87
Fair ValueR10.74
Upside-73.1%
Quality95/100
Evidence: High Range R8.06 – R13.43

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Jun 26, 2026 — revised from R60.63 to R10.74 (−82.3%) since Jun 24, 2026. Share price −5.7% over the past month.

Price vs Fair Value (12 months)

R51.35 R38.35 Fair Value R10.74 Jun 2025 Jun 2026

12‑month range R38.35 – R51.35 · fair‑value band R8.06 – R13.43 · the R39.87 price screens above the R10.74 fair value. As of Jun 26, 2026.

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Analysis

Coronation Fund Managers Limited (CML) currently trades at R39.87, while our model-based Fair Value estimate is R10.74 — implying the stock looks roughly 73.1% overvalued today. We read business quality at 95/100 (high quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, Coronation Fund Managers Limited generated revenue of 4.4B ZAR at a net margin of 38.7%. Revenue grew 7.6% year over year. It earns a return on equity of 68.8%. The balance sheet holds a net cash position of 976M ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 4.4B ZAC
Revenue growth (YoY) +7.6%
Net margin 38.7%
Return on equity 68.8%
Free cash flow 139M ZAC FY2025
P/E ratio 8.9
More key figures
Operating margin 45.7%
EPS (TTM) R4.87
EPS growth (YoY) +6.3%
Net cash 976M ZAC FY2025

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

About the company

Coronation Fund Managers Limited is a publicly owned investment manager. The firm provides its services to pension and provident funds, medical schemes, unit trusts, banks, insurers and other fund managers, international retirement funds, endowments and family offices. It launches and manages equity, fixed income, and balanced mutual funds. The firm invests in the public equity and fixed income markets across the globe. It employs fundamental analysis with bottom-up stock picking approach. Coronation Fund Managers Limited was founded in 1993 and is based in Cape Town, South Africa with additional office in London, United Kingdom and Dublin, Ireland.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Coronation Fund Managers Limited reported revenue of R4.3B in FY2025 versus R4.3B in FY2021, a compound +0.2%/yr. Reported net income was R1.7B in FY2025, compounding −0.5%/yr from FY2021.

Revenue +0.2%/yr
FY21 R4.3B
FY22 R3.7B
FY23 R3.6B
FY24 R3.9B
FY25 R4.3B
Net income −0.5%/yr
FY21 R1.7B
FY22 R1.3B
FY23 R640M
FY24 R2.2B
FY25 R1.7B

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6 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

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The Schiehallion Fund Limited MNTN $2.27 $4.54 +100%
BlackRock, Inc BLK 17,417 MXN 465.03 MXN -97%
BH Macro Limited BHMU $4.42 $8.84 +100%
Blackstone Inc BX $118.55 $61.04 -49%
Investor AB IVSBF $39.99 $79.98 +100%

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Frequently asked questions

Is Coronation Fund Managers Limited (CML) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R10.74 versus a price of R39.87 — about −73% (overvalued). Model-based estimate, not financial advice.
What is the fair value of CML?
Our 21-model fair value for Coronation Fund Managers Limited is R10.74 (as of Jun 26, 2026), built from audited fundamentals. The current price is R39.87.
What is the quality score of CML?
Coronation Fund Managers Limited has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Coronation Fund Managers Limited (CML)?
Coronation Fund Managers Limited reported trailing-twelve-month revenue of about 4.4B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of CML?
The net profit margin of Coronation Fund Managers Limited is about 38.7%, meaning it keeps roughly 38.7% of revenue as net income. 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.

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