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Octodec Investments Limited (OCT) Fair Value & Analysis

Real Estate · ZA · Market cap 4.7B ZAC

OI Octodec Investments Limited OCT · JSE
PriceR17.68
Fair ValueR24.22
Upside+37.0%
Quality95/100
Evidence: High Range R20.88 – R39.20

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Jun 26, 2026 — revised from R29.45 to R24.22 (−17.8%) since Jun 24, 2026. Share price +4.2% over the past month.

Price vs Fair Value (12 months)

R19.02 R10.38 Fair Value R24.22 Jun 2025 Jun 2026

12‑month range R10.38 – R19.02 · fair‑value band R20.88 – R39.20 · the R17.68 price screens below the R24.22 fair value. As of Jun 26, 2026.

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Analysis

Octodec Investments Limited (OCT) currently trades at R17.68, while our model-based Fair Value estimate is R24.22 — implying the stock looks roughly 37.0% undervalued today. We read business quality at 95/100 (high quality), in the Real Estate 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, Octodec Investments Limited generated revenue of 2.2B ZAR at a net margin of 24.0%. Revenue grew 2.4% year over year. It earns a return on equity of 8.1%. Net debt stands at 4.2B ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 2.2B ZAC
Revenue growth (YoY) +2.4%
Net margin 24.0%
Return on equity 8.1%
Free cash flow 142M ZAC FY2025
P/E ratio 8.8
More key figures
Operating margin 39.6%
EPS (TTM) R2.00
Dividend yield 0.1%
EPS growth (YoY) +17.6%
Net debt 4.2B ZAC FY2025

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

About the company

Octodec Investments Limited (Octodec or the company), its subsidiaries and associated company (the group) is a real estate investment trust (REIT) listed on the JSE Ltd (JSE) and A2X, with a diversified portfolio of 226 residential, retail, office and industrial properties situated in the major metropolitan areas of Tshwane and Johannesburg. The portfolio, including an equity-accounted joint venture, has a lettable area of 1 504 601m2 and is valued at R11.3 billion.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Octodec Investments Limited reported revenue of R2.1B in FY2025 versus R1.8B in FY2021, a compound +3.9%/yr. Reported net income was R491M in FY2025.

Revenue +3.9%/yr
FY21 R1.8B
FY22 R1.9B
FY23 R2.0B
FY24 R2.0B
FY25 R2.1B
Net income
FY21 −R175M
FY22 R605M
FY23 R610M
FY24 R216M
FY25 R491M

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Similar stocks

6 more REIT - Diversified stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
Graphene Manufacturing Group GMG A$31.69 A$10.07 -68%
Goodman Group GMGSF $21.70 $4.84 -78%
VICI Properties Inc VICI $26.72 $41.74 +56%
W. P. Carey Inc WPC $72.30 $55.97 -23%
Stockland STKAF $3.00 $2.58 -14%
Charter Hall Group CTOUF $15.42 $10.45 -32%

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Frequently asked questions

Is Octodec Investments Limited (OCT) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R24.22 versus a price of R17.68 — about +37% (undervalued). Model-based estimate, not financial advice.
What is the fair value of OCT?
Our 21-model fair value for Octodec Investments Limited is R24.22 (as of Jun 26, 2026), built from audited fundamentals. The current price is R17.68.
What is the quality score of OCT?
Octodec Investments Limited has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Octodec Investments Limited (OCT)?
Octodec Investments Limited reported trailing-twelve-month revenue of about 2.2B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of OCT?
The net profit margin of Octodec Investments Limited is about 24.0%, meaning it keeps roughly 24.0% of revenue as net income. Based on the latest reported figures.
Does Octodec Investments Limited pay a dividend?
Octodec Investments Limited 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.