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Old Mutual Limited (OMU) Fair Value & Analysis

Financial Services · ZA · Market cap 52.8B ZAC

OM Old Mutual Limited OMU · JSE
PriceR13.36
Fair ValueR21.11
Upside+58.0%
Quality95/100
Evidence: High Range R15.83 – R26.39

Fair value as of: Jun 26, 2026

From 17 valuation models · updated 4 days ago

Fair value updated Jun 26, 2026 — revised from R35.84 to R21.11 (−41.1%) since Jun 24, 2026. Share price +4.0% over the past month.

Price vs Fair Value (12 months)

R16.06 R10.52 Fair Value R21.11 Jun 2025 Jun 2026

12‑month range R10.52 – R16.06 · fair‑value band R15.83 – R26.39 · the R13.36 price screens below the R21.11 fair value. As of Jun 26, 2026.

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Analysis

Old Mutual Limited (OMU) currently trades at R13.36, while our model-based Fair Value estimate is R21.11 — implying the stock looks roughly 58.0% 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, Old Mutual Limited generated revenue of 118B ZAR at a net margin of 7.1%. Revenue grew 19.9% year over year. It earns a return on equity of 14.8%. Net debt stands at 12.0B ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 118B ZAC
Revenue growth (YoY) +19.9%
Net margin 7.1%
Return on equity 14.8%
Free cash flow −4.8B ZAC FY2025
P/E ratio 7.0
More key figures
Operating margin 20.1%
EPS (TTM) R1.89
Dividend yield 0.1%
EPS growth (YoY) +79.7%
Net debt 12.0B ZAC FY2025

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

About the company

Old Mutual Limited, together with its subsidiaries, provides financial solutions to retail and corporate customers in South Africa and rest of Africa. It operates through Old Mutual Life and Savings, Old Mutual Investments, Old Mutual Banking, Old Mutual Insure, Old Mutual Africa Regions, and Other Group Activities segments. The company offers risk, savings, investment, lending, and income products; simple financial solutions for low- to lower-middle income customers; financial advice and tailored investment for middle-income and high-net-worth individuals; and employee benefits and business solutions for SMEs. It is also involved in listed asset management, Old Mutual alternative investment, and specialized finance businesses; and provision of banking and lending services, including micro lending. In addition, the company provides banking services to customers in the low-income and lower-middle income markets; non-life insurance products through multiple channels; and life and savi…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Old Mutual Limited reported revenue of R167B in FY2025 versus R248B in FY2021, a compound −9.4%/yr. Reported net income was R8.4B in FY2025, compounding +6.0%/yr from FY2021.

Revenue −9.4%/yr
FY21 R248B
FY22 R130B
FY23 R144B
FY24 R159B
FY25 R167B
Net income +6.0%/yr
FY21 R6.7B
FY22 R5.2B
FY23 R7.1B
FY24 R7.7B
FY25 R8.4B

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Frequently asked questions

Is Old Mutual Limited (OMU) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R21.11 versus a price of R13.36 — about +58% (undervalued). Model-based estimate, not financial advice.
What is the fair value of OMU?
Our 21-model fair value for Old Mutual Limited is R21.11 (as of Jun 26, 2026), built from audited fundamentals. The current price is R13.36.
What is the quality score of OMU?
Old Mutual Limited has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Old Mutual Limited (OMU)?
Old Mutual Limited reported trailing-twelve-month revenue of about 118B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of OMU?
The net profit margin of Old Mutual Limited is about 7.1%, meaning it keeps roughly 7.1% of revenue as net income. Based on the latest reported figures.
Does Old Mutual Limited pay a dividend?
Old Mutual Limited currently shows a dividend yield of about 0.07% 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.