Reinet Investments SCA (RNI) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Reinet Investments SCA stock ZAR 916, price ZAR 458, upside +100.0%, quality 53 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Undervalued, but in a downtrendFair value well above the price and solid quality, but a downtrend.Plus: Even on cautious assumptions the value is 50% above the price (R687.33).
The stock costs 50% less than our calculation considers fair.
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 Oct 29, 2026.
How to read this chart
60‑month range R233.88 – R580.43 · fair‑value band R687.33 – R1,146 · the R458.22 price screens below the R916.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.
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Reinet Investments S.C.A. operates as a securitization vehicle in Luxembourg. The company, through its subsidiary, Reinet Fund S.C.A., F.I.S., identifies and invests in assets that offers long term growth.
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Reinet Investments Manager S.A. operates as a general partner of Reinet Investments S.C.A. The company was formerly known as Richemont S.A. and changed its name to Reinet Investments S.C.A. in October 2008. Reinet Investments S.C.A. was incorporated in 1979 and is based in Luxembourg, Luxembourg.
Stock analysis
Reinet Investments SCA (RNI) currently trades at R458.22, while our model-based Fair Value estimate is R916.44, implying the stock looks roughly 50.0% undervalued today.
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Valuation
How firm this estimate is: it rests on 10 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: R687.33 (bear) to R1,146 (bull), the price of R458.22 sits below 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 53/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Reinet Investments SCA reported revenue of €2.7B in FY2026 versus €416M in FY2022, a compound +59.0%/yr. Reported net income was −€247M in FY2026.
Key figures
Market cap 83.3B ZAR Mid · EPS (TTM) R−27.39 · Net margin −9.3% · Return on equity −3.7% · Return on assets (EBIT) 45.5% · Operating margin 104% · Revenue (TTM) −244M ZAR · Revenue growth (YoY) +770%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 100%, RNI screens cheaper than that median.
Fair Value models
BearR687.33Fair Value R916.44BullR1,146
Price R458.22 · Upside +100.0%
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.57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+224.3%
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.
+64.3%
Start year 2021 (pandemic). Over 10 years: −2.3% a year
Revenue growth 18 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.
+19.9%
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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.
602.9% (2021) → −9.3% (2026)
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
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.Asset Management · 664 stocks
Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+100.0% · Top 25%
Profitability
Return on assets−0.2% · Below median
Net margin (12 months)−9.3% · Bottom 25%
Operating margin (12 months)103.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)770.2% · Top 25%
Dividend yield (12 months)1.8% · Bottom 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Asset Management median · lower = cheaper
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Is Reinet Investments SCA (RNI) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of R916.44 versus a price of R458.22, about +100% upside (undervalued).
What is the fair value of RNI?
Our model-based fair value for Reinet Investments SCA is R916.44 (as of Oct 29, 2026), built from audited fundamentals. The current price: R458.22.
What is the quality score of RNI?
Reinet Investments SCA has a Quality Score of 53/100. 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 Reinet Investments SCA (RNI)?
Our model-based price target is the fair value of R916.44 (as of Oct 29, 2026) from 2 valuation models. Cautious scenario R687.33, optimistic scenario R1,146. It is a calculation from audited fundamentals, not an analyst target.
What is the Reinet Investments SCA stock forecast for 2026?
Our models put fair value at R916.44, about +100% upside versus a price of R458.22 (undervalued). Cautious scenario R687.33, optimistic scenario R1,146. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Reinet Investments SCA (RNI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Reinet Investments SCA it is R916.44 per share (as of Oct 29, 2026), against a price of R458.22. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Reinet Investments SCA stock overvalued or undervalued in 2026?
As of Oct 29, 2026, RNI trades below its calculated fair value: price R458.22, fair value R916.44, 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 RNI?
No. The price is what the market pays today (R458.22); the fair value is what the company's own numbers justify (R916.44). For Reinet Investments SCA the two are R458.22 per share apart. That gap is exactly why we show both numbers side by side.
How much is Reinet Investments SCA worth?
The market values Reinet Investments SCA at about 83.3B ZAR (market capitalisation, as of Oct 29, 2026). Per share that is R458.22; our models calculate a fair value of R916.44 per share.
What do the bullish and bearish scenarios say about RNI?
Our models span a range for Reinet Investments SCA: cautious scenario R687.33, base R916.44, optimistic R1,146 per share (as of Oct 29, 2026, price R458.22). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Reinet Investments SCA (RNI)?
Balance-sheet figures for Reinet Investments SCA (as of Oct 29, 2026): return on equity −3.7%, debt of 0.00 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is RNI from its 52-week high?
Reinet Investments SCA trades at R458.22, about 21% below its 52-week high of R577.57 and 8% above the low of R423.54 (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of R916.44 is for.
Which stocks are comparable to Reinet Investments SCA?
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 Reinet Investments SCA stock attractive at the current price?
The data as of Oct 29, 2026: price R458.22, calculated fair value R916.44 (+100%), Quality Score 53/100, from 2 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 RNI calculated?
We run Reinet Investments SCA through 2 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 R916.44, 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 13.4 % above its aggregate fair value. Reinet Investments SCA currently trades 50 % 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 Reinet Investments SCA (RNI)?
The closing price on Oct 28, 2026 was R458.22. Our model-based fair value is R916.44, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Reinet Investments SCA right now?
The price is below even our cautious bear case (R687.33). The market is more pessimistic than our downside scenario. 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 (53/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Reinet Investments SCA (RNI) come from?
Earnings per share at Reinet Investments SCA grew −17.2 % a year from 2011 to 2022. Broken into its drivers: revenue per share −18.3 %, EBIT margin +21.9 %, tax rate +0.1 %, residual (interest, one-offs) −17.0 %. 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 Reinet Investments SCA
How large is the market capitalisation of Reinet Investments SCA (RNI)?
The market capitalisation of Reinet Investments SCA is 83.3B 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 are the earnings per share of Reinet Investments SCA (RNI)?
Earnings per share at Reinet Investments SCA are R−27.39. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Reinet Investments SCA (RNI)?
The net margin of Reinet Investments SCA is −9.3% (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 Reinet Investments SCA (RNI)?
The return on equity (ROE) of Reinet Investments SCA is −3.7% (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 Reinet Investments SCA (RNI)?
On an EBIT basis the return on assets of Reinet Investments SCA is 45.5% (avg 4y). 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 Reinet Investments SCA (RNI)?
The operating margin of Reinet Investments SCA is 104% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much revenue does Reinet Investments SCA (RNI) generate?
Reinet Investments SCA generates revenue of −244M ZAR (last twelve months). Revenue of the last twelve months (TTM), the most recent full year, not the calendar year.
How fast is revenue growing at Reinet Investments SCA (RNI)?
Revenue at Reinet Investments SCA is growing +770% versus a year earlier. 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 Reinet Investments SCA (RNI)?
Earnings per share at Reinet Investments SCA are growing −42.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Reinet Investments SCA (RNI) generate?
The free cash flow of Reinet Investments SCA is €6.0B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Reinet Investments SCA (RNI) hold?
Reinet Investments SCA holds more cash than debt, €7.0M net (fiscal year 2022). The company holds more cash than debt, a safety cushion.
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Thin data
Oct 29, 2026