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JSE Limited (JSE) Fair Value & Analysis

Financial Services · ZA · Market cap 12.3B ZAC

JL JSE Limited JSE · JSE
PriceR156.00
Fair ValueR171.80
Upside+10.1%
Quality95/100
Evidence: High Range R128.85 – R353.24

Fair value as of: Jun 26, 2026

From 20 valuation models · updated 4 days ago

Fair value updated Jun 26, 2026 — revised from R110.23 to R171.80 (+55.9%) since Jun 24, 2026. Share price +1.6% over the past month.

Price vs Fair Value (12 months)

R176.38 R123.80 Fair Value R171.80 Jun 2025 Jun 2026

12‑month range R123.80 – R176.38 · fair‑value band R128.85 – R353.24 · the R156.00 price screens below the R171.80 fair value. As of Jun 26, 2026.

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Analysis

JSE Limited (JSE) currently trades at R156.00, while our model-based Fair Value estimate is R171.80 — implying the stock looks roughly 10.1% undervalued today. We read business quality at 95/100 (high 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, JSE Limited generated revenue of 3.4B ZAR at a net margin of 31.2%. Revenue grew 17.4% year over year. It earns a return on equity of 22.0%. The balance sheet holds a net cash position of 3.0B ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 3.4B ZAC
Revenue growth (YoY) +17.4%
Net margin 31.2%
Return on equity 22.0%
Free cash flow 1.2B ZAC FY2025
P/E ratio 11.8
More key figures
Operating margin 29.9%
EPS (TTM) R12.90
Dividend yield 0.1%
EPS growth (YoY) +21.0%
Net cash 3.0B ZAC FY2025

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

About the company

JSE Limited operates as a stock exchange in South Africa. It offers international securities identification number (ISIN) and national numbering agency (NNA) related services, regulatory compliance services in post-trade activities, capital market, and colocation and connectivity services; and operates training academy. The company was founded in 1887 and is based in Johannesburg, South Africa.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

JSE Limited reported revenue of R3.4B in FY2025 versus R2.5B in FY2021, a compound +8.0%/yr. Reported net income was R1.1B in FY2025, compounding +10.3%/yr from FY2021.

Revenue +8.0%/yr
FY21 R2.5B
FY22 R2.7B
FY23 R2.8B
FY24 R3.0B
FY25 R3.4B
Net income +10.3%/yr
FY21 R722M
FY22 R749M
FY23 R831M
FY24 R918M
FY25 R1.1B

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Similar stocks

6 more Financial Data & Stock Exchanges stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
S&P Global Inc SPGI C$19.84 C$14.02 -29%
CME Group CME $256.06 $117.90 -54%
Intercontinental Exchange, Inc ICE $131.34 $128.86 -2%
Moody's Corporation MCO $447.33 $194.74 -56%
Hong Kong Exchanges and Clearing Limited 0388 HK$396.40 HK$449.83 +13%
London Stock Exchange Group LDNXF $109.65 $57.38 -48%

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Frequently asked questions

Is JSE Limited (JSE) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R171.80 versus a price of R156.00 — about +10% (undervalued). Model-based estimate, not financial advice.
What is the fair value of JSE?
Our 21-model fair value for JSE Limited is R171.80 (as of Jun 26, 2026), built from audited fundamentals. The current price is R156.00.
What is the quality score of JSE?
JSE Limited has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of JSE Limited (JSE)?
JSE Limited reported trailing-twelve-month revenue of about 3.4B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of JSE?
The net profit margin of JSE Limited is about 31.2%, meaning it keeps roughly 31.2% of revenue as net income. Based on the latest reported figures.
Does JSE Limited pay a dividend?
JSE Limited currently shows a dividend yield of about 0.06% 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.