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PSG Konsult Ltd (KST) fair value: what the stock is really worth

As of Nov 11, 2026: fair value (intrinsic value) of PSG Konsult Ltd stock ZAR 19.66, price ZAR 31.35, that is 37.3% below the price, quality 55 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services ZA · ISIN ZAE000191417

PK PSG Konsult Ltd logo Broad data Nov 7, 2026

PSG Konsult Ltd

KST · JSE

Far too expensive (fair value 37% below the price), but solid company and rising price: meets 2 of 3 rules.

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Rising price (uptrend) 
Healthy Growth (revenue 5y +11.0 %/yr in ZAR) 
Solidly profitable · 17.0% net margin (TTM) 
Broad data 
Last quarter vs. a year ago: revenue +19%, profit +45%. 
Quality 55/100 
Wide moat 72/100 · thin data
Fair value R19.66 · Strongly overvalued 
Trails peers (3/14) 
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What runs behind every stock

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

Price vs Fair Value

R36.00 R9.68 Fair Value R19.66 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range R9.68 – R36.00 · fair‑value band R12.84 – R29.54 · the R31.35 price screens above the R19.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.

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Company profile

PSG Financial Services Limited, together with its subsidiaries, provides various financial services and products in South Africa and Namibia. The company operates through three segments: PSG Wealth, PSG Asset Management, and PSG Insure.

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The PSG Wealth segment offers portfolio management, stockbroking, local and offshore investments, estate planning, financial planning, local and offshore fiduciary, multi-managed solutions, and retirement products to individuals, families, and businesses.

The PSG Asset Management segment provides various investment products, including local and global investment products.

The PSG Insure segment offers personal short-term insurance products, including home, car, and household insurance; and commercial insurance products, such as business and agri-insurance.

The company was formerly known as PSG Konsult Limited and changed its name to PSG Financial Services Limited in August 2023. PSG Financial Services Limited was incorporated in 1993 and is headquartered in Bellville, South Africa.

Stock analysis

PSG Konsult Ltd (KST) currently trades at R31.35, while our model-based Fair Value estimate is R19.66, 37% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Earnings-Based group reads highest at a median of R38.19 per share, and 1 of the 13 models we run sit above the R31.35 price.

Bear case: the Asset-Based group reads lowest at R2.23, and 12 of the 13 models stay below the price. Data coverage for this calculation is high.

Scenario range: R12.84 (bear) to R29.54 (bull), the price of R31.35 sits above 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 55/100 (solid quality), in the Financial Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

PSG Konsult Ltd reported revenue of 8.3B ZAR in FY2026 versus 5.7B ZAR in FY2022, a compound +9.7%/yr. Reported net income was 1.7B ZAR in FY2026, compounding +17.2%/yr from FY2022.

Key figures

Market cap 39.7B ZAR Mid · P/E ratio 23.1 · P/S ratio 3.89 · EPS (TTM) R1.36 · Dividend yield 2.1% · Net margin 17.0% · Return on equity 31.7% · Return on assets (EBIT) 0.9% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 72 out of 100 (low confidence).

What moves the price

The share trades about 13% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at −37%, KST screens richer than that median.

Fair Value models

Bear R12.84 Fair Value R19.66 Bull R29.54
Price R31.35 · Downside -37.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 8 months old). Earnings retained since then (0.4999 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. Coverage ⓘCoverage = 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.
Best data coverage
Growth DCF R12.84 R19.66 R29.54 78
Owner Earnings R10.12 R16.07 R25.47 75
Rev-Margin DCF R12.10 R19.55 R29.69 72
All 13 models by family
DCF Models
Owner Earnings R10.12 R16.07 R25.47 75
5Y P/E Exit R14.16 R24.23 R36.18 70
10Y P/E Exit R13.57 R22.03 R34.73 63
Earnings-Based
Graham-Dodd R9.54 R52.23 R72.45 63
Lynch FV R16.90 R24.14 R31.38 61
Dividend Discount
Gordon GGM R7.07 R12.16 R16.11 68
DDM Multi-Stage R7.07 R11.38 R13.05 67
Multiples
P/E Multiple R13.68 R18.25 R22.81 63
P/B Multiple R3.49 R4.65 R5.81 55
Asset-Based
NCAV (Graham) R1.66 R2.23 R3.32 54
Growth DCF
Growth DCF R12.84 R19.66 R29.54 78
Rev-Margin DCF R12.10 R19.55 R29.69 72
Economic Profit
Residual Income R7.02 R9.78 R18.12 72

Open the full fair value analysis →

Quality Score breakdown

Overall quality 55/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 44
How much profit the company makes from its sales and capital
Quality Growth 61
Are margins and returns getting better?
Cashflow 61
Do the profits arrive as real cash?
Financial strength 6
Debt, balance sheet and risk of trouble
Investment 50
Does it invest with discipline instead of growing at any price?
Low Volatility 90
How calm the share price moves, does not count
Price momentum 53
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 60
Distance to the 52-week high, does not count
New shares 94
Buys back shares or issues new ones?

Open the full quality analysis →

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. 93/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.1%
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.
+6.4%
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.
+11.0%
Start year 2021 (pandemic). Over 10 years: +10.2% a year
Revenue growth 21 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.
+20.8%
What shareholders gained per year (last 5 years), in ZAR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in ZAR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+20.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.6%
Dividend (yield on the price)2.1%
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.21.3% vs 18.1%, picking up
Profit margin 2021 to 2026 ⓘ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.17% → 32%
2026 sits 71% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2021 (pandemic)

KST screens overvalued: fair value 37% below the price. Compare with Blackstone Inc →

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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.Asset Management · 632 stocks

Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 55 · Below median
Fair Value upside −37.3% · Bottom 25%
Profitability
Return on equity (12 months) 31.7% · Top 25%
Return on assets 1.1% · Below median
Net margin (12 months) 17.0% · Below median
Operating margin (12 months) 26.7% · Below median
Growth and dividend
Revenue growth (quarter YoY) 19.1% · Above median
Dividend yield (12 months) 2.1% · Below median

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (12 months) 23.1× · Priciest 25%
P/B 7.02× · Priciest 25%
P/S (12 months) 3.89× · Pricier than median
Price / free cash flow (fiscal year) 31.1× · Priciest 25%
EV/EBITDA 12.9× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 37
FUTURE (revenue growth)96 · sector 36
PAST (return on equity)100 · sector 21
HEALTH (low debt)–
DIVIDEND (yield)41 · sector 75

VALUE 0: the price sits above our fair-value range.

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

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 Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Raymond James Financial, Inc RJF $167.13 $281.42 +68% vs KST
Apollo Global Management, Inc APO $122.95 $197.52 +61% vs KST
Ameriprise Financial, Inc AMP $520.06 $639.69 +23% vs KST
Exor N.V EXO €74.45 €76.42 +3% vs KST
State Street Corporation STT $174.17 $168.03 −4% vs KST
Northern Trust Corporation NTRS $178.71 $133.48 −25% vs KST
Ares Management Corporation ARES $137.89 $99.35 −28% vs KST
Brookfield Asset Management Ltd BAM $52.56 $31.26 −41% vs KST
Blackstone Inc BX $122.01 $52.29 −57% vs KST
KKR & Co KKR $100.05 $27.63 −72% vs KST

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PSG Konsult Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "PSG Konsult Ltd Fair Value". https://www.fairvalue-calculator.com/stock/KST

Frequently asked questions

Is PSG Konsult Ltd (KST) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of R19.66 versus a price of R31.35, about 37% lower (overvalued).
What is the fair value of KST?
Our model-based fair value for PSG Konsult Ltd is R19.66 (as of Nov 7, 2026), built from audited fundamentals. The current price: R31.35.
What is the quality score of KST?
PSG Konsult Ltd has a Quality Score of 55/100. 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 PSG Konsult Ltd (KST)?
Our model-based price target is the fair value of R19.66 (as of Nov 7, 2026) from 13 valuation models. Cautious scenario R12.84, optimistic scenario R29.54. It is a calculation from audited fundamentals, not an analyst target.
What is the PSG Konsult Ltd stock forecast for 2026?
Our models put fair value at R19.66, about 37% lower versus a price of R31.35 (overvalued). Cautious scenario R12.84, optimistic scenario R29.54. The calculation is refreshed regularly with new filings.
What is the revenue of PSG Konsult Ltd (KST)?
PSG Konsult Ltd reported trailing-twelve-month revenue of about 10.2B ZAR (latest available figure, as of Nov 7, 2026).
Does PSG Konsult Ltd pay a dividend?
PSG Konsult Ltd currently shows a dividend yield of 2.07% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of PSG Konsult Ltd (KST) and when is the ex-dividend date?
PSG Konsult Ltd pays a dividend of R0.65 per share a year, a dividend yield of 2.1%. The last ex-dividend date was Nov 3, 2026. The payout ratio is 47.8% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of PSG Konsult Ltd (KST)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PSG Konsult Ltd it is R19.66 per share (as of Nov 7, 2026), against a price of R31.35. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is PSG Konsult Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, KST trades above its calculated fair value: price R31.35, fair value R19.66, a gap of about −37% (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 KST?
No. The price is what the market pays today (R31.35); the fair value is what the company's own numbers justify (R19.66). For PSG Konsult Ltd the two are R11.69 per share apart. That gap is exactly why we show both numbers side by side.
How much is PSG Konsult Ltd worth?
The market values PSG Konsult Ltd at about 39.7B ZAR (market capitalisation, as of Nov 7, 2026). Per share that is R31.35; our models calculate a fair value of R19.66 per share.
What do the bullish and bearish scenarios say about KST?
Our models span a range for PSG Konsult Ltd: cautious scenario R12.84, base R19.66, optimistic R29.54 per share (as of Nov 7, 2026, price R31.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KST?
PSG Konsult Ltd trades at a price-to-earnings ratio of 23.1 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R19.66 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 19.4. Other multiples: P/B 7.0, P/S 3.9, EV/EBITDA 12.9.
How solid is the balance sheet of PSG Konsult Ltd (KST)?
Balance-sheet figures for PSG Konsult Ltd (as of Nov 7, 2026): return on equity 31.7%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is KST from its 52-week high?
PSG Konsult Ltd trades at R31.35, about 13% below its 52-week high of R36.00 and 27% above the low of R24.75 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of R19.66 is for.
Which stocks are comparable to PSG Konsult Ltd?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Asset Management Ltd, Apollo Global Management, Inc, 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 PSG Konsult Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price R31.35, calculated fair value R19.66 (−37%), Quality Score 55/100, from 13 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 KST calculated?
We run PSG Konsult Ltd through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of R19.66 builds on their evidence-weighted average, 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. PSG Konsult Ltd 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 PSG Konsult Ltd (KST)?
The closing price on Nov 11, 2026 was R31.35. Our model-based fair value is R19.66, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PSG Konsult Ltd right now?
The price sits above even our optimistic bull case (R29.54). The favourable scenario is already priced in. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (R12.84 to R29.54) 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 PSG Konsult Ltd (KST) come from?
Earnings per share at PSG Konsult Ltd grew +15.7 % a year from 2015 to 2026. Broken into its drivers: revenue per share +11.6 %, EBIT margin +5.3 %, tax rate +1.3 %, residual (interest, one-offs) −2.8 %. 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 PSG Konsult Ltd

How large is the market capitalisation of PSG Konsult Ltd (KST)?
The market capitalisation of PSG Konsult Ltd is 39.7B ZAR. 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 PSG Konsult Ltd (KST)?
The price-to-sales ratio of PSG Konsult Ltd is 3.89 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PSG Konsult Ltd (KST)?
Earnings per share at PSG Konsult Ltd are R1.36 (price ÷ EPS = P/E 23.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PSG Konsult Ltd (KST)?
The dividend yield of PSG Konsult Ltd is 2.1% (payout 47.8%). 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 PSG Konsult Ltd (KST)?
The net margin of PSG Konsult Ltd is 17.0% (last twelve months). 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 PSG Konsult Ltd (KST)?
The return on equity (ROE) of PSG Konsult Ltd is 31.7% (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 PSG Konsult Ltd (KST)?
On an EBIT basis the return on assets of PSG Konsult Ltd is 0.9% (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 PSG Konsult Ltd (KST)?
The operating margin of PSG Konsult Ltd is 26.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PSG Konsult Ltd (KST)?
Revenue at PSG Konsult Ltd is growing +19.1% versus a year earlier (3y avg +6.4%). 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 PSG Konsult Ltd (KST)?
Earnings per share at PSG Konsult Ltd are growing +45.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PSG Konsult Ltd (KST) generate?
The free cash flow of PSG Konsult Ltd is 1.3B ZAR (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does PSG Konsult Ltd (KST) hold?
PSG Konsult Ltd holds more cash than debt, 2.3B ZAR net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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