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RH Bophelo Ltd (RHB) fair value: what the stock is really worth

As of Sep 16, 2026: fair value of RH Bophelo Ltd ZAR 3.60, price ZAR 1.80, upside +100.0%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Financial Services · ZA · ISIN ZAE000244737

RB Thin data Sep 24, 2026

RH Bophelo Ltd

RHB · JSE

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value R3.60 · Strongly undervalued (+100%)
!Quality 49/100
!Expensive Growth (revenue 5y +43.4 %/yr)
✓Highly profitable · 34.8% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (7/12)
!Narrow moat 34/100
!Evidence only low, so the estimate is less certain
!Weak on past: 7 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

R6.73 R1.01 Fair Value R3.60 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range R1.01 – R6.73 · fair‑value band R1.74 – R3.60 · the R1.80 price screens below the R3.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

RH Bophelo Limited, together with its subsdidiaries, invests in the healthcare and financial sector in South Africa. It is involved in investment of equity, quasi-equity, and equity related investments in operational infrastructure, health insurance, private hospital infrastructure, pharmaceuticals, retail and distribution, and healthcare technology.

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RH Bophelo Limited, together with its subsdidiaries, invests in the healthcare and financial sector in South Africa. It is involved in investment of equity, quasi-equity, and equity related investments in operational infrastructure, health insurance, private hospital infrastructure, pharmaceuticals, retail and distribution, and healthcare technology. The company was incorporated in 2016 and is based in Johannesburg, South Africa. RH Bophelo Limited operates as a subsidiary of Public Investment Corporation SOC Limited.

Stock analysis

RH Bophelo Ltd (RHB) currently trades at R1.80, while our model-based Fair Value estimate is R3.60, implying the stock looks roughly 50.0% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of R11.36 per share, and 6 of the 6 models we run sit above the R1.80 price.

Bear case: the Multiples group reads lowest at R4.88, and 0 of the 6 models stay below the price. Evidence for this calculation is low.

Scenario range: R1.74 (bear) to R3.60 (bull), the price of R1.80 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 49/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

RH Bophelo Ltd reported revenue of 89.6M ZAR in FY2026 versus 31.8M ZAR in FY2022, a compound +29.6%/yr. Reported net income was 18.6M ZAR in FY2026, compounding −23.2%/yr from FY2022.

Key figures

Market cap 116M ZAC · P/E ratio 6.2 · P/S ratio 1.29 · EPS (TTM) R0.2900 · Net margin 20.7% · Return on equity 1.7% · Return on assets (EBIT) 3.2% · Operating margin −38.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 40% below its 52-week high and 46% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at 100%, RHB screens cheaper than that median.

Fair Value models

Bear R1.74 Fair Value R3.60 Bull R3.60
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (0.1661 ZAR per share) are deliberately not added. 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 ⓘEvidence = 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.
Highest evidence
Residual Income R11.63 R10.89 R8.20 71
Graham-Dodd R1.95 R13.61 R19.10 63
P/E Multiple R4.74 R6.32 R7.89 63
All 6 models by family
Earnings-Based
Graham-Dodd R1.95 R13.61 R19.10 63
Lynch FV R5.01 R7.15 R9.30 61
Multiples
P/E Multiple R4.74 R6.32 R7.89 63
P/B Multiple R3.66 R4.88 R6.10 55
Asset-Based
NCAV (Graham) R8.48 R11.36 R16.95 54
Economic Profit
Residual Income R11.63 R10.89 R8.20 71

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Quality Score breakdown

Overall quality 49/100

Of which business quality 47 · Market factors (momentum, volatility) 42

Profitability 29
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+124.9%
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.
+31.1%
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.
+43.4%
Start year 2021 (pandemic)
Revenue growth 8 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.
+20.0%
What shareholders gained per year (last 5 years), in ZAR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in ZAR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−26.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−26.1%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.1,167% → 30%

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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.Asset Management · 656 stocks

Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside +100% · Top 25%
Profitability
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 35% · Above median
Operating margin (TTM) −38% · Bottom 25%
Growth and dividend
Revenue growth −85% · Bottom 25%

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (TTM) 6.2× · Cheapest 25%
P/B 0.11× · Cheapest 25%
P/S (TTM) 2.18× · Cheaper than median
EV/EBITDA 3.3× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 56
FUTURE (revenue growth)0 · sector 21
PAST (return on equity)7 · sector 22
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 81

Context: sector, industry, market

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

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $117.21 $52.29 −55%
Brookfield Corporation BN $37.85 $13.75 −64%
KKR & Co KKR $97.21 $29.25 −70%
Apollo Global Management, Inc APO $124.36 $229.64 +85%
State Street Corporation STT $179.95 $138.33 −23%
Ameriprise Financial, Inc AMP $502.79 $579.51 +15%
Ares Management Corporation ARES $124.72 $119.25 −4%
Northern Trust Corporation NTRS $173.40 $122.02 −30%
Raymond James Financial, Inc RJF $158.23 $312.27 +97%
T. Rowe Price Group TROW $104.57 $209.14 +100%

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RH Bophelo Ltd · Fair Value
R3.60 +50%Fair Value
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Cite: Fair Value Calculator (2026). "RH Bophelo Ltd Fair Value". https://www.fairvalue-calculator.com/stock/RHB

Frequently asked questions

Is RH Bophelo Ltd (RHB) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of R3.60 versus the last price from Sep 16, 2026 of R1.80, about +100% upside (undervalued).
What is the fair value of RHB?
Our model-based fair value for RH Bophelo Ltd is R3.60 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 16, 2026): R1.80.
What is the quality score of RHB?
RH Bophelo Ltd has a Quality Score of 49/100. 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 RH Bophelo Ltd (RHB)?
Our model-based price target is the fair value of R3.60 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario R1.74, optimistic scenario R3.60. It is a calculation from audited fundamentals, not an analyst target.
What is the RH Bophelo Ltd stock forecast for 2026?
Our models put fair value at R3.60, about +100% upside versus the last price from Sep 16, 2026 of R1.80 (undervalued). Cautious scenario R1.74, optimistic scenario R3.60. The calculation is refreshed regularly with new filings.
What is the revenue of RH Bophelo Ltd (RHB)?
RH Bophelo Ltd reported trailing-twelve-month revenue of about 53.4M ZAR (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of RH Bophelo Ltd (RHB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For RH Bophelo Ltd it is R3.60 per share (as of Sep 24, 2026), against a price of R1.80. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is RH Bophelo Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, RHB trades below its calculated fair value: price R1.80, fair value R3.60, a gap of about +100% (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 RHB?
No. The price is what the market pays today (R1.80); the fair value is what the company's own numbers justify (R3.60). For RH Bophelo Ltd the two are R1.80 per share apart. That gap is exactly why we show both numbers side by side.
How much is RH Bophelo Ltd worth?
The market values RH Bophelo Ltd at about 116M ZAC (market capitalisation, as of Sep 24, 2026). Per share that is R1.80; our models calculate a fair value of R3.60 per share.
What do the bullish and bearish scenarios say about RHB?
Our models span a range for RH Bophelo Ltd: cautious scenario R1.74, base R3.60, optimistic R3.60 per share (as of Sep 24, 2026, price R1.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RHB?
RH Bophelo Ltd trades at a price-to-earnings ratio of 6.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R3.60 is built from several models across several years. Other multiples: P/B 0.1, P/S 2.2, EV/EBITDA 3.3.
How solid is the balance sheet of RH Bophelo Ltd (RHB)?
Balance-sheet figures for RH Bophelo Ltd (as of Sep 24, 2026): return on equity 1.7%. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is RHB from its 52-week high?
RH Bophelo Ltd trades at R1.80, about 40% below its 52-week high of R3.00 and 46% above the low of R1.23 (as of Sep 16, 2026). Distance from the high says nothing about value: that is what the fair value of R3.60 is for.
Which stocks are comparable to RH Bophelo Ltd?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, 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 RH Bophelo Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price R1.80, calculated fair value R3.60 (+100%), Quality Score 49/100, from 6 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 RHB calculated?
We run RH Bophelo Ltd through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R3.60, 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 14.0 % above its aggregate fair value. RH Bophelo Ltd currently trades 100 % 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 RH Bophelo Ltd (RHB)?
The latest price we hold is from Sep 16, 2026 and stands at R1.80. Our model-based fair value is R3.60, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with RH Bophelo Ltd right now?
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 (49/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (R1.74 to R3.60) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of RH Bophelo Ltd

How large is the market capitalisation of RH Bophelo Ltd (RHB)?
The market capitalisation of RH Bophelo Ltd is 116M ZAC. 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 RH Bophelo Ltd (RHB)?
The price-to-sales ratio of RH Bophelo Ltd is 1.29 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of RH Bophelo Ltd (RHB)?
Earnings per share at RH Bophelo Ltd are R0.2900 (price ÷ EPS = P/E 6.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of RH Bophelo Ltd (RHB)?
The net margin of RH Bophelo Ltd is 20.7% (fiscal year 2026). 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 RH Bophelo Ltd (RHB)?
The return on equity (ROE) of RH Bophelo Ltd is 1.7% (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 RH Bophelo Ltd (RHB)?
On an EBIT basis the return on assets of RH Bophelo Ltd is 3.2% (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 RH Bophelo Ltd (RHB)?
The operating margin of RH Bophelo Ltd is −38.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at RH Bophelo Ltd (RHB)?
Revenue at RH Bophelo Ltd is growing −84.5% versus a year earlier (3y avg +31.1%). 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 RH Bophelo Ltd (RHB)?
Earnings per share at RH Bophelo Ltd are growing −0.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does RH Bophelo Ltd (RHB) generate?
The free cash flow of RH Bophelo Ltd is −16.5M ZAC (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does RH Bophelo Ltd (RHB) carry?
The net debt of RH Bophelo Ltd is 516K ZAC (fiscal year 2026). 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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