Discovery Limited (DSBP) Fair Value & Analysis
Financial Services · ZA · Market cap 1.3B ZAC
Fair value as of: Aug 13, 2026
From 6 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from R192.75 to R153.60 (−20.3%) since Jul 17, 2026. Share price +1.6% over the past month.
A solid business, screening 16% undervalued on our models.
What matters now
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
- Our model range runs from R115.20 (bear) to R192.00 (bull), base R153.60. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 52/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range R66.66 – R141.05 · fair‑value band R115.20 – R192.00 · the R131.95 price screens below the R153.60 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Discovery Limited (DSBP) currently trades at R131.95, while our model-based Fair Value estimate is R153.60, implying the stock looks roughly 16.4% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Financial Services 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, Discovery Limited generated revenue of 91.1B ZAR at a net margin of 11.9%. Revenue grew 8.8% year over year. It earns a return on equity of 15.7%. Net debt stands at 1.6B ZAR. Fundamentals as of Aug 13, 2026
Our scenario range runs from R115.20 (bear case) to R192.00 (bull case); at R131.95, the current price sits within 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 Financial Services peers we cover trades at 34% fair-value upside, at 16%, DSBP screens richer 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 6 models by family
Widest divergence: Multiples (R142.60) versus Dividend Discount (R32.02). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 56
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
Discovery Limited provides various insurance products and services primarily in South Africa and the United Kingdom. It operates through SA Health, SA Life, SA Invest, SA Insure, SA Bank, UK Health, UK Life, and All Other segments.
Full company description
Discovery Limited provides various insurance products and services primarily in South Africa and the United Kingdom. It operates through SA Health, SA Life, SA Invest, SA Insure, SA Bank, UK Health, UK Life, and All Other segments. The company offers health, life, car, travel, business, and home insurance products; motor, building, household content, and portable possessions insurance products; private medical insurance products; and commercial short-term risk insurance products. It also provides pension and provident fund solutions; managed care services; financial solutions; investment products; retail banking solutions, including deposits and loans and advances; and Vitality, which offers health and lifestyle benefits. The company was formerly known as Discovery Holdings Limited and changed its name to Discovery Limited in December 2012. The company was founded in 1992 and is based in Sandton, South Africa.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Discovery Limited reported revenue of R81.9B in FY2025 versus R75.2B in FY2021, a compound +2.2%/yr. Reported net income was R9.6B in FY2025, compounding +31.3%/yr from FY2021.
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Peer Group
Insurance - Life · 96 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 Insurance - Life 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 Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥37.33 | ¥49.98 | +34% |
| Ping An Insurance (Group) Company 601318 | ¥52.60 | ¥84.72 | +61% |
| Manulife Financial Corporation 0945 | HK$343.40 | HK$143.17 | -58% |
| Life Insurance Corporation LICI | ₹412.15 | ₹392.93 | -5% |
| Samsung Life Insurance Co 032830 | 302,500 KRW | 191,293 KRW | -37% |
| China Pacific Insurance (Group) Co 601601 | ¥30.48 | ¥57.51 | +89% |
| Prudential plc PUKN | 545.00 MXN | 499.36 MXN | -8% |
| New China Life Insurance Company 601336 | ¥58.83 | ¥99.92 | +70% |
| SBI Life Insurance Company SBILIFE | ₹1,830 | ₹293.11 | -84% |
| Cathay Financial Holding 2882B | 59.00 TWD | 107.71 TWD | +83% |
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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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