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Premier Group (PMR) Fair Value & Analysis

Consumer Defensive · ZA · Market cap 30.5B ZAR

PG Premier Group PMR · JSE
Price185.80 ZAR
Fair Value140.30 ZAR
Upside-24.5%
Quality36/100
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Healthy Growth
Thin margins · 7.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Moderate moat 52/100
Evidence: High Range 102.11 ZAR – 199.34 ZAR Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 24 days ago

Share price −8.0% over the past month.

Below-average quality, and screening another 24% overvalued on our models.

What matters now

  • Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (102.11 ZAR to 199.34 ZAR) leaves room in how you read the outcome.
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Price vs Fair Value (3 years)

203.29 ZAR 52.59 ZAR Fair Value 140.30 ZAR Mar 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

40‑month range 52.59 ZAR – 203.29 ZAR · fair‑value band 102.11 ZAR – 199.34 ZAR · the 185.80 ZAR price screens above the 140.30 ZAR fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Premier Group (PMR) currently trades at 185.80 ZAR, while our model-based Fair Value estimate is 140.30 ZAR, implying the stock looks roughly 24.5% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Consumer Defensive 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, Premier Group generated revenue of 20.5B ZAR at a net margin of 6.6%. Revenue grew 6.4% year over year. It earns a return on equity of 27.6%. Net debt stands at 2.4B ZAR. Fundamentals as of Jul 18, 2026

Our scenario range runs from 102.11 ZAR (bear case) to 199.34 ZAR (bull case); at 185.80 ZAR, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Consumer Defensive peers we cover trades at -31% fair-value upside, at -24%, PMR screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Growth DCF 62.87 ZAR 95.84 ZAR 142.87 ZAR 80
Rev-Margin DCF 83.72 ZAR 143.03 ZAR 210.46 ZAR 74
ROIC Compounder 104.51 ZAR 134.44 ZAR 170.94 ZAR 72
All 24 models by family
DCF Models
FCF DCF 61.63 ZAR 98.71 ZAR 154.96 ZAR 38
Owner Earnings 59.47 ZAR 95.37 ZAR 149.83 ZAR 31
5Y Revenue Exit 83.72 ZAR 143.59 ZAR 220.33 ZAR 39
5Y EBITDA Exit 103.81 ZAR 180.99 ZAR 271.12 ZAR 41
5Y P/E Exit 106.92 ZAR 186.79 ZAR 270.55 ZAR 38
10Y Revenue Exit 71.81 ZAR 124.54 ZAR 195.73 ZAR 36
10Y EBITDA Exit 87.83 ZAR 150.44 ZAR 234.34 ZAR 37
10Y P/E Exit 89.81 ZAR 154.46 ZAR 233.90 ZAR 35
Earnings-Based
Graham-Dodd 63.77 ZAR 194.01 ZAR 257.44 ZAR 54
Lynch FV 41.55 ZAR 59.36 ZAR 77.17 ZAR 50
PEG = 1.0 41.55 ZAR 59.36 ZAR 77.17 ZAR 46
EPV 99.16 ZAR 116.73 ZAR 132.10 ZAR 59
Multiples
P/E Multiple 154.72 ZAR 206.30 ZAR 257.87 ZAR 63
P/S Multiple 114.59 ZAR 152.79 ZAR 190.99 ZAR 58
P/B Multiple 119.56 ZAR 159.41 ZAR 199.27 ZAR 55
EV/EBIT 182.88 ZAR 245.91 ZAR 308.95 ZAR 53
EV/EBITDA 143.11 ZAR 192.89 ZAR 242.67 ZAR 54
EV/Revenue 100.72 ZAR 146.56 ZAR 192.40 ZAR 43
Asset-Based
NCAV (Graham) 36.85 ZAR 49.37 ZAR 73.69 ZAR 50
Growth DCF
Growth DCF 62.87 ZAR 95.84 ZAR 142.87 ZAR 80
Rev-Margin DCF 83.72 ZAR 143.03 ZAR 210.46 ZAR 74
Economic Profit
Residual Income 69.55 ZAR 84.46 ZAR 182.14 ZAR 61
ROIC Compounder 104.51 ZAR 134.44 ZAR 170.94 ZAR 72
Growth Earnings
Growth-Adj P/E 126.35 ZAR 180.50 ZAR 234.65 ZAR 68

Widest divergence: Growth Earnings (180.50 ZAR) versus Asset-Based (49.37 ZAR). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 21.2B ZAR
Revenue growth (YoY) +6.8%
Net margin 7.4%
Return on equity 17.9%
Free cash flow 1.0B ZAR FY2026
P/E ratio 16.8
More key figures
Operating margin 11.8%
EPS (TTM) 11.24 ZAR
Dividend yield 0.0%
EPS growth (YoY) +25.7%
Net debt 2.4B ZAR FY2026

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 36/100

Of which business quality 40 · Market factors (momentum, volatility) 68

Profitability 55
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 28
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Premier Group Limited operates as a consumer-packaged goods company in South Africa and internationally. It operates through Millbake and Groceries and International segments. The company manufactures, distributes, and sells bread, flour, maize meal, sugar confectionary, and nutritional beverages, as well as biscuits, pasta, rice, and wheat products.

Full company description

Premier Group Limited operates as a consumer-packaged goods company in South Africa and internationally. It operates through Millbake and Groceries and International segments. The company manufactures, distributes, and sells bread, flour, maize meal, sugar confectionary, and nutritional beverages, as well as biscuits, pasta, rice, and wheat products. It also provides animal feeds, feminine hygiene, and other personal care products that include intimate care, menstrual, and cotton wool products. In addition, the company engages in flour milling; food processing; investment holding; baking; sales and distribution; and management services. The company sells its products under the Fepro, Iwisa Mageu, Iwisa No.1 PowerUp, Mandla Mahewu, Nyala Amahewu, Super Sun Mageu, Cream and Smileez biscuits, CIM Dry Biscuits, BB Bakeries, Blue Ribbon, Blue Ribbon Square, Mister Bread, S.U.B., Star Bakeries, Manhattan, Champion, Mister Sweet, Rascals, Super C, Impala, Invicta, Ligugu, Mega Star, Nyala, Premier Braaipap, Super Sun, Top Score, Polana, Sunblest, Dove Cotton, Lil-Lets, Crown Select, Dourado, Bakers Pride, Favorita, Florbela, and Snowflake brands. The company was founded in 1824 and is headquartered in Waterfall, South Africa.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2023 – FY2026 · reported fiscal years

Premier Group reported revenue of 21.2B ZAR in FY2026 versus 17.9B ZAR in FY2023, a compound +5.7%/yr. Reported net income was 1.6B ZAR in FY2026, compounding +25.2%/yr from FY2023.

Growth Quality 70/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
21.2B ZAR
Latest YoY
+6.6%
Avg. growth/yr (3Y) 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.
+5.7%
Revenue +5.7%/yr
FY23 17.9B ZAR
FY24 18.6B ZAR
FY25 19.9B ZAR
FY26 21.2B ZAR
Net income +25.2%/yr
FY23 794M ZAR
FY24 921M ZAR
FY25 1.2B ZAR
FY26 1.6B ZAR

PMR screens 24% overvalued. Compare with Loblaw Companies Limited →

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Cite: Fair Value Calculator (2026). "Premier Group Fair Value". https://www.fairvalue-calculator.com/stock/PMR

Peer Group

Grocery Stores · 83 stocks

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.

Quality Score 36 · Bottom 25%
Fair Value upside −25% · Below median
Return on equity (TTM) 18% · Above median
Return on assets 9% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 12% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.14× · Lower than median

Valuation Multiples vs Grocery Stores median · lower = cheaper

P/E (TTM) 16.3× · Cheaper than median
P/B 2.49× · Pricier than median
P/S (TTM) 1.44× · Pricier than 75% of peers
P/FCF 1.9× · Cheaper than median
EV/EBITDA 11.5× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 1 · sector 36
FUTURE 34 · sector 17
PAST 72 · sector 51
HEALTH 93 · sector 92
DIVIDEND 0 · sector 48

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Grocery Stores stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Loblaw Companies Limited L C$65.49 C$44.44 -32%
Koninklijke Ahold Delhaize N.V AD €36.30 €53.50 +47%
The Kroger Co KR $58.82 $28.19 -52%
Woolworths Group WOW A$39.20 A$13.40 -66%
George Weston Limited WN C$100.98 C$63.61 -37%
Coles Group COL A$23.56 A$15.86 -33%
Metro Inc MRU C$93.64 C$94.01 +0%
Carrefour SA CA €16.40 €11.51 -30%
CP ALL Public Company TCPD 1.89 SGD 2.36 SGD +25%
BIM Birlesik Magazalar A.S., BIMAS 385.75 TRY 267.12 TRY -31%

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Frequently asked questions

Is Premier Group (PMR) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 140.30 ZAR versus a price of 185.80 ZAR, about −24% (overvalued).
What is the fair value of PMR?
Our model-based fair value for Premier Group is 140.30 ZAR (as of Jul 18, 2026), built from audited fundamentals. The current price is 185.80 ZAR.
What is the quality score of PMR?
Premier Group has a Quality Score of 36/100. 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 revenue of Premier Group (PMR)?
Premier Group reported trailing-twelve-month revenue of about 20.5B ZAR (latest available figure, as of Jul 18, 2026).
What is the net profit margin of PMR?
The net profit margin of Premier Group is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. Based on the latest reported figures.
Does Premier Group pay a dividend?
Premier Group currently shows a dividend yield of about 0.02% relative to its recent price (as of Jul 18, 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.

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