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Investec PLC (INVP) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Investec PLC £12.71, price £6.18, upside +105.7%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Financial Services · GB · ISIN GB00B17BBQ50

IP Broad data Sep 24, 2026

Investec PLC

INVP · LSE

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value £12.71 · Strongly undervalued (+106%)
!Quality 46/100
!Expensive Growth (revenue 5y +11.5 %/yr)
✓Highly profitable · 34.1% net margin (TTM)
!Moderate debt · negative free cash flow
·6.07% dividend yield
!Mixed vs. peers (7/13)
✓Wide moat 68/100
!Insider activity 45/100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

£6.82 £1.84 Fair Value £12.71 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range £1.84 – £6.82 · fair‑value band £7.06 – £15.89 · the £6.18 price screens below the £12.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Investec Group provides various financial products and services in South Africa, the United Kingdom, and internationally.

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Investec Group provides various financial products and services in South Africa, the United Kingdom, and internationally. The company provides private banking services; wealth services, including wealth and portfolio management, stockbroking, and offshore and retirement investment, and intergenerational wealth solutions; savings accounts; personal and property financing, and finance for practice; and insurance solutions comprising severe illness, disability, life, mortgage and income protection, and business overloads. It also offers business banking solutions, such as trade and debtor, asset and leverage, structured property, technology asset, supply chain, and medical practice financing services, as well as financing for corporate and private equity firms; transaction banking, private capital, and forex and risk management solutions; foreign exchange services; instant access and call, notice, and fixed-term deposit accounts; and money market services and equity structured products. In addition, the company provides advisory; treasury and risk management for foreign exchange, commodities, interest rates, liquidity management, and equity structuring; fixed-income instruments; execution and custody solutions for institutions, hedge funds, corporates, and intermediaries; securities lending; and clearing services. Investec Group was founded in 1974 and is based in Sandton, South Africa.

Stock analysis

Investec PLC (INVP) currently trades at £6.18, while our model-based Fair Value estimate is £12.71, implying the stock looks roughly 51.4% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of £63.77 per share, and 8 of the 9 models we run sit above the £6.18 price.

Bear case: the Asset-Based group reads lowest at £5.81, and 1 of the 9 models stay below the price. Evidence for this calculation is high.

Scenario range: £7.06 (bear) to £15.89 (bull), the price of £6.18 sits below 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 46/100 (below-average 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 £4.7B in FY2026 versus £2.9B in FY2022, a compound +12.8%/yr. Reported net income was £726M in FY2026, compounding +8.9%/yr from FY2022.

Key figures

Market cap 5.4B GBX · P/E ratio 8.2 · P/S ratio 1.27 · EPS (TTM) £0.7500 · Dividend yield 6.1% · Net margin 15.4% · Return on equity 12.4% · Return on assets (EBIT) 2.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 9% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −17% fair-value upside, at 106%, INVP screens cheaper than that median.

Fair Value models

Bear £7.06 Fair Value £12.71 Bull £15.89
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 (£0.1818 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. 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.
Highest evidence
Owner Earnings £40.32 £63.77 £99.89 75
Residual Income £8.19 £9.84 £19.51 72
Gordon GGM £4.70 £9.36 £14.18 67
All 9 models by family
DCF Models
Owner Earnings £40.32 £63.77 £99.89 75
Earnings-Based
Graham-Dodd £7.83 £28.85 £38.96 64
Lynch FV £6.90 £9.86 £12.82 61
Dividend Discount
Gordon GGM £4.70 £9.36 £14.18 67
DDM Multi-Stage £4.70 £8.09 £9.88 67
Multiples
P/E Multiple £11.23 £14.97 £18.72 63
P/B Multiple £9.11 £12.15 £15.18 55
Asset-Based
NCAV (Graham) £4.34 £5.81 £8.68 54
Economic Profit
Residual Income £8.19 £9.84 £19.51 72

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Quality Score breakdown

Overall quality 46/100

Of which business quality 38 · Market factors (momentum, volatility) 63

Profitability 30
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 21
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 97
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+136.9%
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.
+28.1%
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.
+11.5%
Start year 2021 (pandemic). Over 10 years: +10.0% a year
Revenue growth 26 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.
+5.5%
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.
+14.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
Dividend (yield on the price)6.1%
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.9% vs 8%, steady
Profit margin 2017 to 2022 ⓘ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.25% → 24%
Start year 2021 (pandemic)

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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 · 460 stocks

Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside +106% · Top 25%
Profitability
Return on equity (TTM) 12% · Above median
Return on assets 1% · Below median
Net margin (TTM) 34% · Above median
Operating margin (TTM) 44% · Above median
Growth and dividend
Revenue growth 9% · Below median
Dividend yield (TTM) 6.1% · Top 25%
Balance sheet
Debt / equity 0.51× · Highest 25%

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/E (TTM) 8.2× · Cheapest 25%
P/B 1.30× · Pricier than median
P/S (TTM) 3.36× · Pricier than median
EV/EBITDA 7.0× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 27
FUTURE (revenue growth)47 · sector 92
PAST (return on equity)49 · sector 30
HEALTH (low debt)74 · sector 95
DIVIDEND (yield)100 · sector 41

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Morgan Stanley, a financial holding company, MS $196.32 $314.07 +60%
The Goldman Sachs Group GS $923.29 $766.86 −17%
The Charles Schwab Corporation SCHW $99.49 $118.07 +19%
Interactive Brokers Group IBKR $89.82 $23.27 −74%
Robinhood Markets, Inc HOOD $122.70 $47.73 −61%
Macquarie Group MQG A$242.55 A$80.51 −67%
CITIC Securities Company 600030 ¥26.79 ¥18.35 −32%
Guotai Haitong Securities Co 601211 ¥17.67 ¥19.29 +9%
East Money Information Co 300059 ¥18.77 ¥4.94 −74%
CSC Financial Co 601066 ¥23.67 ¥39.83 +68%

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Investec PLC · Fair Value
£12.71 +51%Fair Value
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Cite: Fair Value Calculator (2026). "Investec PLC Fair Value". https://www.fairvalue-calculator.com/stock/INVP

Frequently asked questions

Is Investec PLC (INVP) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of £12.71 versus a price of £6.18, about +106% upside (undervalued).
What is the fair value of INVP?
Our model-based fair value for Investec PLC is £12.71 (as of Sep 24, 2026), built from audited fundamentals. The current price: £6.18.
What is the quality score of INVP?
Investec PLC has a Quality Score of 46/100. 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 (INVP)?
Our model-based price target is the fair value of £12.71 (as of Sep 24, 2026) from 9 valuation models. Cautious scenario £7.06, optimistic scenario £15.89. 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 £12.71, about +106% upside versus a price of £6.18 (undervalued). Cautious scenario £7.06, optimistic scenario £15.89. The calculation is refreshed regularly with new filings.
What is the revenue of Investec PLC (INVP)?
Investec PLC reported trailing-twelve-month revenue of about £2.1B (latest available figure, as of Sep 24, 2026).
Does Investec PLC pay a dividend?
Investec PLC currently shows a dividend yield of about 6.07% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Investec PLC (INVP)?
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 £12.71 per share (as of Sep 24, 2026), against a price of £6.18. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Investec PLC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, INVP trades below its calculated fair value: price £6.18, fair value £12.71, a gap of about +106% (undervalued). 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 INVP?
No. The price is what the market pays today (£6.18); the fair value is what the company's own numbers justify (£12.71). For Investec PLC the two are £6.53 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 5.4B GBX (market capitalisation, as of Sep 24, 2026). Per share that is £6.18; our models calculate a fair value of £12.71 per share.
What do the bullish and bearish scenarios say about INVP?
Our models span a range for Investec PLC: cautious scenario £7.06, base £12.71, optimistic £15.89 per share (as of Sep 24, 2026, price £6.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INVP?
Investec PLC trades at a price-to-earnings ratio of 8.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £12.71 is built from several models across several years. Other multiples: P/B 1.3, P/S 3.4, EV/EBITDA 7.0.
How solid is the balance sheet of Investec PLC (INVP)?
Balance-sheet figures for Investec PLC (as of Sep 24, 2026): return on equity 12.4%, debt of 0.51 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is INVP from its 52-week high?
Investec PLC trades at £6.18, about 9% below its 52-week high of £6.82 and 22% above the low of £5.07 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of £12.71 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 Sep 24, 2026: price £6.18, calculated fair value £12.71 (+106%), Quality Score 46/100, from 9 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 INVP calculated?
We run Investec PLC through 9 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 £12.71, 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 14.0 % above its aggregate fair value. Investec PLC currently trades 106 % below its own fair value, and the market average says nothing about that. 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 (INVP)?
The closing price on Sep 24, 2026 was £6.18. Our model-based fair value is £12.71, about +106% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Investec PLC right now?
The price is below even our cautious bear case (£7.06). The market is more pessimistic than our downside scenario. Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (£7.06 to £15.89) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Investec PLC (INVP) come from?
Earnings per share at Investec PLC grew +9.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +4.6 %, EBIT margin +9.0 %, tax rate +0.8 %, residual (interest, one-offs) −4.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Investec PLC

How large is the market capitalisation of Investec PLC (INVP)?
The market capitalisation of Investec PLC is 5.4B GBX. 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 (INVP)?
The price-to-sales ratio of Investec PLC is 1.27 (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 (INVP)?
Earnings per share at Investec PLC are £0.7500 (price ÷ EPS = P/E 8.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Investec PLC (INVP)?
The dividend yield of Investec PLC is 6.1% (payout 50.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Investec PLC (INVP)?
The net margin of Investec PLC is 15.4% (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 (INVP)?
The return on equity (ROE) of Investec PLC is 12.4% (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 (INVP)?
On an EBIT basis the return on assets of Investec PLC is 2.5% (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 (INVP)?
The operating margin of Investec PLC is 43.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Investec PLC (INVP)?
Revenue at Investec PLC is growing +9.4% versus a year earlier (3y avg +28.1%). 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 (INVP)?
Earnings per share at Investec PLC are growing +9.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Investec PLC (INVP) generate?
The free cash flow of Investec PLC is −371M GBX (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Investec PLC (INVP) carry?
The net debt of Investec PLC is 3.9B GBX (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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