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Exemplar REITail Limited (EXP) Fair Value & Analysis

Real Estate · ZA · Market cap 5.9B ZAC

ER Exemplar REITail Limited EXP · JSE
PriceR18.00
Fair ValueR32.16
Upside+78.7%
Quality92/100
Evidence: High Range R21.68 – R43.24

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Jun 26, 2026 — revised from R37.75 to R32.16 (−14.8%) since Jun 24, 2026. Share price +10,274.6% over the past month.

Price vs Fair Value (12 months)

R18.00 R0.1290 Fair Value R32.16 Jun 2025 Jun 2026

12‑month range R0.1290 – R18.00 · fair‑value band R21.68 – R43.24 · the R18.00 price screens below the R32.16 fair value. As of Jun 26, 2026.

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Analysis

Exemplar REITail Limited (EXP) currently trades at R18.00, while our model-based Fair Value estimate is R32.16 — implying the stock looks roughly 78.7% undervalued today. We read business quality at 92/100 (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, Exemplar REITail Limited generated revenue of 1.5B ZAR at a net margin of 93.0%. Revenue grew 12.5% year over year. It earns a return on equity of 23.4%. Net debt stands at 4.2B ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 1.5B ZAC
Revenue growth (YoY) +12.5%
Net margin 93.0%
Return on equity 23.4%
Free cash flow 79.5M ZAC FY2026
P/E ratio 4.2
More key figures
Operating margin 61.6%
EPS (TTM) R4.14
Dividend yield 0.1%
EPS growth (YoY) +34.3%
Net debt 4.2B ZAC FY2026

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

About the company

Exemplar REITail Limited is a listed Real Estate Investment Trust (REIT), which develops, owns and manages township and rural retail real estate. The company was incorporated on January 17th, 2018 in South Africa and is based in Centurion, South Africa.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Exemplar REITail Limited reported revenue of R1.5B in FY2026 versus R885M in FY2022, a compound +14.6%/yr. Reported net income was R1.4B in FY2026, compounding +11.6%/yr from FY2022.

Revenue +14.6%/yr
FY22 R885M
FY23 R1.0B
FY24 R1.2B
FY25 R1.3B
FY26 R1.5B
Net income +11.6%/yr
FY22 R914M
FY23 R975M
FY24 R709M
FY25 R1.1B
FY26 R1.4B

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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 Exemplar REITail Limited (EXP) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R32.16 versus a price of R18.00 — about +79% (undervalued). Model-based estimate, not financial advice.
What is the fair value of EXP?
Our 21-model fair value for Exemplar REITail Limited is R32.16 (as of Jun 26, 2026), built from audited fundamentals. The current price is R18.00.
What is the quality score of EXP?
Exemplar REITail Limited has a Quality Score of 92/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Exemplar REITail Limited (EXP)?
Exemplar REITail Limited reported trailing-twelve-month revenue of about 1.5B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of EXP?
The net profit margin of Exemplar REITail Limited is about 93.0%, meaning it keeps roughly 93.0% of revenue as net income. Based on the latest reported figures.
Does Exemplar REITail Limited pay a dividend?
Exemplar REITail Limited currently shows a dividend yield of about 0.09% relative to its recent price (as of Jun 26, 2026).

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.