Lesaka Technologies Inc. (LSK) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Lesaka Technologies Inc. ZAR 113, price ZAR 72.72, upside +55.9%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Lesaka Technologies, Inc. provides financial technology (fintech) products and services through its platform in South Africa and internationally. It operates in three segments: Merchant, Consumer, and Enterprise.
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Lesaka Technologies, Inc. provides financial technology (fintech) products and services through its platform in South Africa and internationally. It operates in three segments: Merchant, Consumer, and Enterprise. The company offers merchant solutions comprising merchant acquiring, integrated POS software and hardware for the hospitality industry, cash management and digitalization, and small cash advances and business credit solutions; and alternative digital products (ADP), including bill payments, international money transfers, and supplier enabled payments, as well as prepaid solutions for airtime, data, electricity, and gaming. It also provides low-cost EasyPay Everywhere transactional bank accounts, short-term personal loans, life and funeral insurance, and secure payout solutions; Adumo, a payments and commerce enablement platform that provides payment processing and integrated software solutions; and Recharger, a prepaid electricity platform that provides submetering administration and payment processing solutions. In addition, the company offers card acquiring, payment gateway, cash management, payment, digital wallet, and various value-added services. Further, it engages in the sale of POS devices, SIM cards, and other consumables; and the licensing of rights to use certain technology developed by the company. The company serves unbanked and underbanked consumers; small-to-medium and micro merchants; and corporate and government organizations, including banks, mobile network operators, and municipalities. The company was formerly known as Net 1 UEPS Technologies, Inc. and changed its name to Lesaka Technologies, Inc. in May 2022. Lesaka Technologies, Inc. was founded in 1989 and is headquartered in Johannesburg, South Africa.
Stock analysis
Lesaka Technologies Inc. (LSK) currently trades at 72.72 ZAR, while our model-based Fair Value estimate is 113.36 ZAR, implying the stock looks roughly 35.9% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 33.08 ZAR per share, and 1 of the 3 models we run sit above the 72.72 ZAR price.
Bear case: the Multiples group reads lowest at 15.10 ZAR, and 2 of the 3 models stay below the price. Evidence for this calculation is low.
Scenario range: 78.01 ZAR (bear) to 148.72 ZAR (bull), the price of 72.72 ZAR 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 35/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Lesaka Technologies Inc. reported revenue of $660M in FY2025 versus $131M in FY2021, a compound +49.9%/yr. Reported net income was −$87.5M in FY2025.
Key figures
Market cap 6.9B ZAR (≈ $412M) · P/S ratio 9.78 · EPS (TTM) −5.43 ZAR · Net margin −13.3% · Return on equity −15.2% · Return on assets (EBIT) −3.2% · Operating margin 3.7% · Revenue (TTM) $702M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −23% fair-value upside, at 56%, LSK screens cheaper than that median.
Fair Value models
Bear 78.01 ZARFair Value 113.36 ZARBull 148.72 ZAR
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.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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+16.9%
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.
+43.6%
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.
+35.5%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
−26.3% (2020) → 1.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare Lesaka Technologies Inc. with another stock
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.Software - Infrastructure · 332 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score35 · Bottom 25%
Fair Value upside+200.0% · Top 25%
Profitability
Return on assets1.3% · Below median
Net margin (TTM)−4.0% · Below median
Operating margin (TTM)3.7% · Below median
Growth and dividend
Revenue growth13.4% · Above median
Balance sheet
Debt / equity0.74× · Highest 25%
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/B1.62× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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). "Lesaka Technologies Inc. Fair Value". https://www.fairvalue-calculator.com/stock/LSK
Frequently asked questions
Is Lesaka Technologies Inc. (LSK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 113.36 ZAR versus a price of 72.72 ZAR, about +56% upside (undervalued).
What is the fair value of LSK?
Our model-based fair value for Lesaka Technologies Inc. is 113.36 ZAR (as of Sep 24, 2026), built from audited fundamentals. The current price: 72.72 ZAR.
What is the quality score of LSK?
Lesaka Technologies Inc. has a Quality Score of 35/100. 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 Lesaka Technologies Inc. (LSK)?
Our model-based price target is the fair value of 113.36 ZAR (as of Sep 24, 2026) from 4 valuation models. Cautious scenario 78.01 ZAR, optimistic scenario 148.72 ZAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Lesaka Technologies Inc. stock forecast for 2026?
Our models put fair value at 113.36 ZAR, about +56% upside versus a price of 72.72 ZAR (undervalued). Cautious scenario 78.01 ZAR, optimistic scenario 148.72 ZAR. The calculation is refreshed regularly with new filings.
What is the revenue of Lesaka Technologies Inc. (LSK)?
Lesaka Technologies Inc. reported trailing-twelve-month revenue of about $702M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Lesaka Technologies Inc. (LSK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lesaka Technologies Inc. it is 113.36 ZAR per share (as of Sep 24, 2026), against a price of 72.72 ZAR. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Lesaka Technologies Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, LSK trades below its calculated fair value: price 72.72 ZAR, fair value 113.36 ZAR, a gap of about +56% (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 LSK?
No. The price is what the market pays today (72.72 ZAR); the fair value is what the company's own numbers justify (113.36 ZAR). For Lesaka Technologies Inc. the two are 40.64 ZAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Lesaka Technologies Inc. worth?
The market values Lesaka Technologies Inc. at about 6.9B ZAR (market capitalisation, as of Sep 24, 2026). Per share that is 72.72 ZAR; our models calculate a fair value of 113.36 ZAR per share.
What do the bullish and bearish scenarios say about LSK?
Our models span a range for Lesaka Technologies Inc.: cautious scenario 78.01 ZAR, base 113.36 ZAR, optimistic 148.72 ZAR per share (as of Sep 24, 2026, price 72.72 ZAR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Lesaka Technologies Inc. (LSK)?
Balance-sheet figures for Lesaka Technologies Inc. (as of Sep 24, 2026): return on equity −15.2%, debt of 0.74 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is LSK from its 52-week high?
Lesaka Technologies Inc. trades at 72.72 ZAR, about 19% below its 52-week high of 89.88 ZAR and 11% above the low of 65.50 ZAR (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 113.36 ZAR is for.
Which stocks are comparable to Lesaka Technologies Inc.?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, CrowdStrike Holdings, 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 Lesaka Technologies Inc. stock attractive at the current price?
The data as of Sep 24, 2026: price 72.72 ZAR, calculated fair value 113.36 ZAR (+56%), Quality Score 35/100, from 4 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 LSK calculated?
We run Lesaka Technologies Inc. through 4 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 113.36 ZAR, 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 14.5 % above its aggregate fair value. Lesaka Technologies Inc. currently trades 36 % 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 Lesaka Technologies Inc. (LSK)?
The closing price on Oct 2, 2026 was 72.72 ZAR. Our model-based fair value is 113.36 ZAR, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lesaka Technologies Inc. right now?
The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (78.01 ZAR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (78.01 ZAR to 148.72 ZAR) leaves room in how you read the outcome.
Key figures of Lesaka Technologies Inc.
How large is the market capitalisation of Lesaka Technologies Inc. (LSK)?
The market capitalisation of Lesaka Technologies Inc. is 6.9B ZAR (≈ $412M). 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 Lesaka Technologies Inc. (LSK)?
The price-to-sales ratio of Lesaka Technologies Inc. is 9.78 (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 Lesaka Technologies Inc. (LSK)?
Earnings per share at Lesaka Technologies Inc. are −5.43 ZAR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Lesaka Technologies Inc. (LSK)?
The net margin of Lesaka Technologies Inc. is −13.3% (fiscal year 2025). 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 Lesaka Technologies Inc. (LSK)?
The return on equity (ROE) of Lesaka Technologies Inc. is −15.2% (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 Lesaka Technologies Inc. (LSK)?
On an EBIT basis the return on assets of Lesaka Technologies Inc. is −3.2% (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 Lesaka Technologies Inc. (LSK)?
The operating margin of Lesaka Technologies Inc. is 3.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lesaka Technologies Inc. (LSK)?
Revenue at Lesaka Technologies Inc. is growing +13.4% versus a year earlier (3y avg +43.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Lesaka Technologies Inc. (LSK) generate?
The free cash flow of Lesaka Technologies Inc. is −$30.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Lesaka Technologies Inc. (LSK) carry?
The net debt of Lesaka Technologies Inc. is $149M (fiscal year 2025). 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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