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Dipula Properties Limited (DIB) Fair Value & Analysis

Real Estate · ZA · Market cap 7.3B ZAC

DP Dipula Properties Limited DIB · JSE
PriceR7.29
Fair ValueR11.04
Upside+51.4%
Quality93/100
Evidence: High Range R7.35 – R14.74

Fair value as of: Jun 26, 2026

From 16 valuation models · updated 3 days ago

Fair value updated Jun 26, 2026 — revised from R11.44 to R11.04 (−3.5%) since Jun 24, 2026. Share price +0.3% over the past month.

Price vs Fair Value (12 months)

R7.44 R5.30 Fair Value R11.04 Jun 2025 Jun 2026

12‑month range R5.30 – R7.44 · fair‑value band R7.35 – R14.74 · the R7.29 price screens below the R11.04 fair value. As of Jun 26, 2026.

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Analysis

Dipula Properties Limited (DIB) currently trades at R7.29, while our model-based Fair Value estimate is R11.04 — implying the stock looks roughly 51.4% undervalued today. We read business quality at 93/100 (high 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, Dipula Properties Limited generated revenue of 1.6B ZAR at a net margin of 61.7%. Revenue grew 6.5% year over year. It earns a return on equity of 14.2%. Net debt stands at 3.8B ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 1.6B ZAC
Revenue growth (YoY) +6.5%
Net margin 61.7%
Return on equity 14.2%
Free cash flow −229M ZAC FY2025
P/E ratio 7.2
More key figures
Operating margin 57.3%
EPS (TTM) R1.01
EPS growth (YoY) +4.1%
Net debt 3.8B ZAC FY2025

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

About the company

Dipula Properties Limited is an internally managed, South Africa focused Real Estate Investment Trust (REIT). It owns a portfolio of retail, office, industrial and residential property assets throughout South Africa, with most of the portfolio located in Gauteng. Dipula's strategy is to own a defensive portfolio with a bias towards convenience, rural and township retail centres. The portfolio has yielded a solid performance since listing. The Company focuses on specific market segments and continuously repositions the portfolio to adapt to changing market conditions. Dipula Properties Limited was incorporated in 2005 in South Africa.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dipula Properties Limited reported revenue of R1.5B in FY2025 versus R1.3B in FY2021, a compound +3.6%/yr. Reported net income was R932M in FY2025, compounding +21.4%/yr from FY2021.

Revenue +3.6%/yr
FY21 R1.3B
FY22 R1.4B
FY23 R1.4B
FY24 R1.5B
FY25 R1.5B
Net income +21.4%/yr
FY21 R429M
FY22 R1.1B
FY23 R588M
FY24 R774M
FY25 R932M

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Similar stocks

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

Stock Price Fair Value vs Fair Value
Simon Property Group SPG $216.74 $127.96 -41%
Realty Income Corporation O 1,055 MXN 664.56 MXN -37%
Unibail-Rodamco-Westfield SE UNBLF $117.90 $115.55 -2%
Kimco Realty Corporation KIM $25.19 $20.39 -19%
Scentre Group STGPF $2.65 $2.31 -13%
CapitaLand Integrated Commercial Trust (CICT or the Trust) CPAMF $1.86 $1.07 -42%

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Frequently asked questions

Is Dipula Properties Limited (DIB) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R11.04 versus a price of R7.29 — about +51% (undervalued). Model-based estimate, not financial advice.
What is the fair value of DIB?
Our 21-model fair value for Dipula Properties Limited is R11.04 (as of Jun 26, 2026), built from audited fundamentals. The current price is R7.29.
What is the quality score of DIB?
Dipula Properties Limited has a Quality Score of 93/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Dipula Properties Limited (DIB)?
Dipula Properties Limited reported trailing-twelve-month revenue of about 1.6B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of DIB?
The net profit margin of Dipula Properties Limited is about 61.7%, meaning it keeps roughly 61.7% 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.