Putprop Ltd (PPR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Putprop Ltd stock ZAR 13.45, price ZAR 8.67, upside +55.1%, quality 55 out of 100. Rating: strongly undervalued. Calculated from audited financials with 11 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range R0.0305 – R9.98 · fair‑value band R6.08 – R23.13 · the R8.67 price screens below the R13.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Putprop Limited operates as a property investment company in South Africa. The company operates through Property Rental Operations Categorized by Sector and Energy segments.
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It is involved in property rental and related services; owns and manages a portfolio of commercial, retail, industrial, and residential properties; and generates and sells of solar electricity, including the recovery of related service costs.
The company was formerly known as Putco Properties Limited and changed its name to Putprop Limited in 2006. The company was incorporated in 1988 and is based in Johannesburg, South Africa. Putprop Limited is a subsidiary of Carleo Enterprises Proprietary Limited.
Stock analysis
Putprop Ltd (PPR) currently trades at R8.67, while our model-based Fair Value estimate is R13.45, implying the stock looks roughly 36% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of R17.40 per share, and 11 of the 11 models we run sit above the R8.67 price.
Bear case: the Asset-Based group reads lowest at R10.05, and 0 of the 11 models stay below the price. Data coverage for this calculation is low.
Scenario range: R6.08 (bear) to R23.13 (bull), the price of R8.67 sits inside 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 55/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Putprop Ltd reported revenue of 138M ZAR in FY2026 versus 111M ZAR in FY2022, a compound +5.5%/yr. Reported net income was −87.7M ZAR in FY2026.
Key figures
Market cap 368M ZAR Micro · P/S ratio 2.65 · EPS (TTM) R−2.07 · Dividend yield 2.0% · Net margin −63.0% · Return on equity −14.3% · Return on assets (EBIT) 6.0% (5-year average) · Operating margin 48.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 148% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at 55%, PPR screens cheaper than that median.
Fair Value models
BearR6.08Fair Value R13.45BullR23.13
Price R8.67 · Upside +55.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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.Coverage ⓘCoverage = 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.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.6%
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.
+2.5%
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.
+13.6%
Start year 2021 (pandemic). Over 10 years: +7.7% a year
Revenue growth 24 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.
+6.8%
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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.
57.9% (2020) → 53.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+15.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Africa: IMF forecast 3.3% a year to 2030, 4.9% from 2016 to 2025) that is about +11.7% a year for the price.
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.Real Estate Services · 472 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Below median
Fair Value upside+55.1% · Above median
Profitability
Return on assets−8.1% · Bottom 25%
Net margin (12 months)−63.0% · Bottom 25%
Operating margin (12 months)48.9% · Above median
Growth and dividend
Revenue growth (quarter YoY)0.1% · Below median
Dividend yield (12 months)2.0% · Below median
Balance sheet
Debt / equity0.56× · Above median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
P/B0.58× · Cheaper than median
P/S (12 months)2.64× · Cheaper than median
Price / free cash flow (fiscal year)10.2× · Cheaper than median
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). "Putprop Ltd Fair Value". https://www.fairvalue-calculator.com/stock/PPR
Frequently asked questions
Is Putprop Ltd (PPR) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of R13.45 versus a price of R8.67, about +55% upside (undervalued).
What is the fair value of PPR?
Our model-based fair value for Putprop Ltd is R13.45 (as of Nov 3, 2026), built from audited fundamentals. The current price: R8.67.
What is the quality score of PPR?
Putprop Ltd has a Quality Score of 55/100. 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 Putprop Ltd (PPR)?
Our model-based price target is the fair value of R13.45 (as of Nov 3, 2026) from 11 valuation models. Cautious scenario R6.08, optimistic scenario R23.13. It is a calculation from audited fundamentals, not an analyst target.
What is the Putprop Ltd stock forecast for 2026?
Our models put fair value at R13.45, about +55% upside versus a price of R8.67 (undervalued). Cautious scenario R6.08, optimistic scenario R23.13. The calculation is refreshed regularly with new filings.
What is the revenue of Putprop Ltd (PPR)?
Putprop Ltd reported trailing-twelve-month revenue of about 139M ZAR (latest available figure, as of Nov 3, 2026).
Does Putprop Ltd pay a dividend?
Putprop Ltd currently shows a dividend yield of 1.96% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Putprop Ltd (PPR) and when is the ex-dividend date?
Putprop Ltd pays a dividend of R0.17 per share a year, a dividend yield of 2.0%. The last ex-dividend date was Oct 14, 2026. Free cash flow covers the dividend 4.98 times. Our assessment: Cash covered. The dividend is fully funded by free cash flow. The payout ratio on earnings is not available for this company.
What growth is priced into Putprop Ltd (PPR)?
For today's price to be fair in a discounted-cash-flow model, Putprop Ltd would have to grow free cash flow by +15.3 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.6 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of PPR use?
Our models discount Putprop Ltd at 11.9 %: a base by market capitalisation (nano), damped by beta 0.20, country premium for South Africa. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Putprop Ltd that is +15.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has Putprop Ltd (PPR) delivered so far?
Over the past 5 years revenue at Putprop Ltd grew +13.6 % a year. The price currently implies free-cash-flow growth of +15.3 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Putprop Ltd (PPR) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Putprop Ltd (+15.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Putprop Ltd (PPR)?
The free-cash-flow yield on the price is 9.77 %: that much free cash flow Putprop Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Putprop Ltd (PPR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Putprop Ltd it is R13.45 per share (as of Nov 3, 2026), against a price of R8.67. It is the blended result of 11 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Putprop Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, PPR trades below its calculated fair value: price R8.67, fair value R13.45, a gap of about +55% (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 PPR?
No. The price is what the market pays today (R8.67); the fair value is what the company's own numbers justify (R13.45). For Putprop Ltd the two are R4.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is Putprop Ltd worth?
The market values Putprop Ltd at about 368M ZAR (market capitalisation, as of Nov 3, 2026). Per share that is R8.67; our models calculate a fair value of R13.45 per share.
What do the bullish and bearish scenarios say about PPR?
Our models span a range for Putprop Ltd: cautious scenario R6.08, base R13.45, optimistic R23.13 per share (as of Nov 3, 2026, price R8.67). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of PPR?
The PEG ratio of Putprop Ltd is 125.73 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Putprop Ltd (PPR)?
Balance-sheet figures for Putprop Ltd (as of Nov 3, 2026): return on equity −14.3%, debt of 0.56 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is PPR from its 52-week high?
Putprop Ltd trades at R8.67, about 13% below its 52-week high of R9.98 and 148% above the low of R3.50 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of R13.45 is for.
Which stocks are comparable to Putprop Ltd?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties Limited, 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 Putprop Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price R8.67, calculated fair value R13.45 (+55%), Quality Score 55/100, from 11 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 PPR calculated?
We run Putprop Ltd through 11 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of R13.45 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Putprop Ltd 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 Putprop Ltd (PPR)?
The closing price on Nov 6, 2026 was R8.67. Our model-based fair value is R13.45, about +55% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Putprop Ltd right now?
The model range is unusually wide (R6.08 to R23.13). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Putprop Ltd (PPR) come from?
Earnings per share at Putprop Ltd grew −6.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.9 %, EBIT margin −4.6 %, tax rate +0.6 %, residual (interest, one-offs) −10.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Putprop Ltd
How large is the market capitalisation of Putprop Ltd (PPR)?
The market capitalisation of Putprop Ltd is 368M ZAR. 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 Putprop Ltd (PPR)?
The price-to-sales ratio of Putprop Ltd is 2.65 (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 Putprop Ltd (PPR)?
Earnings per share at Putprop Ltd are R−2.07. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Putprop Ltd (PPR)?
The dividend yield of Putprop Ltd is 2.0%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Putprop Ltd (PPR)?
The net margin of Putprop Ltd is −63.0% (last twelve months). 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 Putprop Ltd (PPR)?
The return on equity (ROE) of Putprop Ltd is −14.3% (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 Putprop Ltd (PPR)?
On an EBIT basis the return on assets of Putprop Ltd is 6.0% (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 Putprop Ltd (PPR)?
The operating margin of Putprop Ltd is 48.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Putprop Ltd (PPR)?
Revenue at Putprop Ltd is growing +0.1% versus a year earlier (3y avg +2.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Putprop Ltd (PPR)?
Earnings per share at Putprop Ltd are growing +60.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Putprop Ltd (PPR) carry?
The net debt of Putprop Ltd is 360M ZAR (fiscal year 2026, ≈ 10.0 yrs of FCF). 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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Thin data
Nov 3, 2026