Investec plc (INPP) fair value: what the stock is really worth
As of Sep 16, 2026: fair value of Investec plc ZAR 121, price ZAR 145, upside -16.4%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range R1.20 – R154.00 · fair‑value band R90.90 – R151.49 · the R145.00 price screens above the R121.19 fair value. Dashed = 300-day average. As of Oct 4, 2026.
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Investec Plc, a specialist bank, provides integrated banking and wealth management products and services to high-net-worth private, corporate, private, intermediary, government, and institutional clients in the United Kingdom and internationally.
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Investec Plc, a specialist bank, provides integrated banking and wealth management products and services to high-net-worth private, corporate, private, intermediary, government, and institutional clients in the United Kingdom and internationally. The company operates four segments: Wealth & Investment; Private Banking; Corporate, Investment Banking, and Other; and Group Investments. It offers wealth and investment services, such as investments and savings, financial planning, and pensions and retirement services to private clients, trusts, charities, intermediaries, pension schemes, and professional advisors. The company also provides specialist banking products and services comprising private client banking services, including lending, private capital, transactional banking, savings, and foreign exchange; corporate and investment banking services, such as lending, treasury and risk management, and advisory solutions, as well as institutional research, sales, and trading. In addition, it offers debt issuance, property, nominee, financing, shipping, fund and investment management, trustee, leasing, custodian, corporate secretary and director, insurance, ITES outsourcing, aircraft leasing, loan credit, MiFiD, securities, trading, mining, online trading, and merchant banking and stock broking services. The company was founded in 1974 and is based in London, United Kingdom. Investec Plc operates as a subsidiary of Investec Group.
Stock analysis
Investec plc (INPP) currently trades at R145.00, while our model-based Fair Value estimate is R121.19, 16.4% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 15 models at a data quality of 96/100, which puts the evidence level at medium.
Scenario range: R90.90 (bear) to R151.49 (bull), the price of R145.00 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Investec plc reported revenue of £2.2B in FY2026 versus £1.9B in FY2022, a compound +3.5%/yr. Reported net income was £725M in FY2026, compounding +8.8%/yr from FY2022.
Key figures
Market cap 1.5B ZAC · P/E ratio 2.2 · P/S ratio 0.73 · EPS (TTM) R0.6600 · Net margin 33.1% · Return on equity 9.4% · Return on assets (EBIT) 1.7% · Operating margin 36.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at −16%, INPP screens richer than that median.
Fair Value models
Bear R90.90Fair Value R121.19Bull R151.49
Price R145.00 · Upside -16.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (0.1416 ZAR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.5%
Start year 2021 (pandemic). Over 10 years: +1.9% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+15.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.0%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15.0% vs 9.0%, picking up
Profit margin 2014 to 2019 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.26% → 31%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 1.1%/yr over ~7Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Capital Markets · 457 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+103.8% · Top 25%
Profitability
Return on equity (TTM)9.4% · Above median
Return on assets1.1% · Below median
Net margin (TTM)33.6% · Above median
Operating margin (TTM)36.0% · Above median
Growth and dividend
Revenue growth−2.6% · Below median
Dividend yield (TTM)22.9% · Top 25%
Balance sheet
Debt / equity0.73× · Highest 25%
Valuation Multiplesvs Capital Markets median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Investec plc Fair Value". https://www.fairvalue-calculator.com/stock/INPP.JSE
Frequently asked questions
Is Investec plc (INPP) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of R121.19 versus the last price from Sep 16, 2026 of R145.00, about −16% upside (overvalued).
What is the fair value of INPP?
Our model-based fair value for Investec plc is R121.19 (as of Oct 4, 2026), built from audited fundamentals. Last price (from Sep 16, 2026): R145.00.
What is the quality score of INPP?
Investec plc has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Investec plc (INPP)?
Our model-based price target is the fair value of R121.19 (as of Oct 4, 2026) from 2 valuation models. Cautious scenario R90.90, optimistic scenario R151.49. It is a calculation from audited fundamentals, not an analyst target.
What is the Investec plc stock forecast for 2026?
Our models put fair value at R121.19, about −16% upside versus the last price from Sep 16, 2026 of R145.00 (overvalued). Cautious scenario R90.90, optimistic scenario R151.49. The calculation is refreshed regularly with new filings.
What is the revenue of Investec plc (INPP)?
Investec plc reported trailing-twelve-month revenue of about £1.0B (latest available figure, as of Oct 4, 2026).
What is the intrinsic value of Investec plc (INPP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Investec plc it is R121.19 per share (as of Oct 4, 2026), against a price of R145.00. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Investec plc stock overvalued or undervalued in 2026?
As of Oct 4, 2026, INPP trades above its calculated fair value: price R145.00, fair value R121.19, a gap of about −16% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of INPP?
No. The price is what the market pays today (R145.00); the fair value is what the company's own numbers justify (R121.19). For Investec plc the two are R23.81 per share apart. That gap is exactly why we show both numbers side by side.
How much is Investec plc worth?
The market values Investec plc at about 1.5B ZAC (market capitalisation, as of Oct 4, 2026). Per share that is R145.00; our models calculate a fair value of R121.19 per share.
What do the bullish and bearish scenarios say about INPP?
Our models span a range for Investec plc: cautious scenario R90.90, base R121.19, optimistic R151.49 per share (as of Oct 4, 2026, price R145.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INPP?
Investec plc trades at a price-to-earnings ratio of 2.2 (as of Oct 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R121.19 is built from several models across several years.
How solid is the balance sheet of Investec plc (INPP)?
Balance-sheet figures for Investec plc (as of Oct 4, 2026): return on equity 9.4%, debt of 0.73 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is INPP from its 52-week high?
Investec plc trades at R145.00, about 6% below its 52-week high of R154.00 and 4% above the low of R140.00 (as of Sep 16, 2026). Distance from the high says nothing about value: that is what the fair value of R121.19 is for.
Which stocks are comparable to Investec plc?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Investec plc stock attractive at the current price?
The data as of Oct 4, 2026: price R145.00, calculated fair value R121.19 (−16%), Quality Score 52/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of INPP calculated?
We run Investec plc through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R121.19, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0 % above its aggregate fair value. Investec plc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Investec plc (INPP)?
The latest price we hold is from Sep 16, 2026 and stands at R145.00. Our model-based fair value is R121.19, about −16% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Investec plc right now?
Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Investec plc
How large is the market capitalisation of Investec plc (INPP)?
The market capitalisation of Investec plc is 1.5B ZAC. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Investec plc (INPP)?
The price-to-sales ratio of Investec plc is 0.73 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Investec plc (INPP)?
Earnings per share at Investec plc are R0.6600 (price ÷ EPS = P/E 2.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Investec plc (INPP)?
The net margin of Investec plc is 33.1% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Investec plc (INPP)?
The return on equity (ROE) of Investec plc is 9.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Investec plc (INPP)?
On an EBIT basis the return on assets of Investec plc is 1.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Investec plc (INPP)?
The operating margin of Investec plc is 36.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Investec plc (INPP)?
Revenue at Investec plc is growing −2.6% versus a year earlier (3y avg +5.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Investec plc (INPP)?
Earnings per share at Investec plc are growing −3.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Investec plc (INPP) generate?
The free cash flow of Investec plc is −£371M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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