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Nedbank Group (NED) Fair Value & Analysis

Financial Services · ZA · Market cap 116B ZAC

NG Nedbank Group NED · JSE
PriceR275.50
Fair ValueR263.47
Upside-4.4%
Quality95/100
Evidence: High Range R197.60 – R329.34

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 4 days ago

Fair value updated Jun 26, 2026 — revised from R662.66 to R263.47 (−60.2%) since Jun 24, 2026. Share price +4.1% over the past month.

Price vs Fair Value (12 months)

R321.35 R212.53 Fair Value R263.47 Jun 2025 Jun 2026

12‑month range R212.53 – R321.35 · fair‑value band R197.60 – R329.34 · the R275.50 price screens above the R263.47 fair value. As of Jun 26, 2026.

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Analysis

Nedbank Group (NED) currently trades at R275.50, while our model-based Fair Value estimate is R263.47 — implying the stock looks roughly 4.4% overvalued today. We read business quality at 95/100 (high quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, Nedbank Group generated revenue of 59.9B ZAR at a net margin of 13.0%. Revenue declined 19.4% year over year. It earns a return on equity of 7.4%. Net debt stands at 21.0T ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 59.9B ZAC
Revenue growth (YoY) -19.4%
Net margin 13.0%
Return on equity 7.4%
Free cash flow 22.7B ZAC FY2025
P/E ratio 15.4
More key figures
Operating margin 17.7%
EPS (TTM) R16.46
Dividend yield 0.1%
EPS growth (YoY) -94.7%
Net debt 21.0T ZAC FY2025

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

About the company

Nedbank Group Limited, together with its subsidiaries, provides various wholesale and retail banking services in South Africa, rest of Africa, Europe, Asia, the United States, and internationally. The company operates through Nedbank Corporate and Investment Banking; Nedbank Business and Commercial Banking; Nedbank Personal and Private Banking; Nedbank Africa Regions; and Centre segments. It offers lending products, advisory services, leverage financing, trading, brokering, structuring, hedging, and client coverage; corporate finance advisory, innovative financial products and services, customised transactional banking, asset management, and commercial property finance; transactional accounts, home loans, vehicle and asset finance, card services, personal loans, insurance and investments; Wealth services include trust and estate planning, stockbroking, and financial planning, as well as tailored banking and services; and franchising and manufacturing industries and public sector. Th…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nedbank Group reported revenue of R161B in FY2025 versus R95.1B in FY2021, a compound +14.1%/yr. Reported net income was R9.3B in FY2025, compounding −6.8%/yr from FY2021.

Revenue +14.1%/yr
FY21 R95.1B
FY22 R56.3B
FY23 R61.0B
FY24 R65.5B
FY25 R161B
Net income −6.8%/yr
FY21 R12.3B
FY22 R15.3B
FY23 R16.8B
FY24 R18.3B
FY25 R9.3B

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Frequently asked questions

Is Nedbank Group (NED) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R263.47 versus a price of R275.50 — about −4% (overvalued). Model-based estimate, not financial advice.
What is the fair value of NED?
Our 21-model fair value for Nedbank Group is R263.47 (as of Jun 26, 2026), built from audited fundamentals. The current price is R275.50.
What is the quality score of NED?
Nedbank Group has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Nedbank Group (NED)?
Nedbank Group reported trailing-twelve-month revenue of about 59.9B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of NED?
The net profit margin of Nedbank Group is about 13.0%, meaning it keeps roughly 13.0% of revenue as net income. Based on the latest reported figures.
Does Nedbank Group pay a dividend?
Nedbank Group currently shows a dividend yield of about 0.08% 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.