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Reinet Investments S.C.A. (RNI) Fair Value & Analysis

Financial Services · ZA · Market cap 84.6B ZAC

RI Reinet Investments S.C.A. RNI · JSE
PriceR446.14
Fair ValueR892.28
Upside+100.0%
Quality50/100
Mixed Growth
Thin margins · 0.0% net margin
generates free cash flow
Mixed vs. peers (4/9)
Narrow moat 42/100
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Evidence: Medium Range R805.91 – R1,027 Share as image

Fair value as of: Jul 12, 2026

From 8 valuation models · updated 18 days ago

Fair value updated Jul 12, 2026, revised from R74.34 to R892.28 (+1,100.3%) since Jun 26, 2026. Share price −0.3% over the past month.

What matters now

  • The price is below even our cautious bear case (R805.91). The market is more pessimistic than our downside scenario.
  • Solid quality (50/100) 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.

Price vs Fair Value (12 months)

R580.94 R431.57 Fair Value R892.28 Jul 2025 Jul 2026

12‑month range R431.57 – R580.94 · fair‑value band R805.91 – R1,027 · the R446.14 price screens below the R892.28 fair value. As of Jul 12, 2026.

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Analysis

Reinet Investments S.C.A. (RNI) currently trades at R446.14, while our model-based Fair Value estimate is R892.28, implying the stock looks roughly 100.0% undervalued today. We read business quality at 50/100 (solid 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: medium), always confirm before acting.

Over the trailing twelve months, Reinet Investments S.C.A. generated revenue of 2.6B ZAR at a net margin of -9.3%. It earns a return on equity of 2.0%. The balance sheet holds a net cash position of 7.0M ZAR. Fundamentals as of Jul 12, 2026

Our scenario range runs from R805.91 (bear case) to R1,027 (bull case); at R446.14, the current price sits below that range. For context, the median of 10 Financial Services peers we cover trades at 90% fair-value upside, at 100%, RNI screens cheaper than that median.

Key figures & financial health

Revenue (TTM) −244M ZAC
Revenue growth (YoY) +770%
Return on equity -3.7%
Free cash flow 6.0B ZAC FY2026
Operating margin 104%
EPS (TTM) R-25.47
More key figures
EPS growth (YoY) -42.8%
Net cash 7.0M ZAC FY2022

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100
Profitability 7
Quality Growth 40
Cashflow 100
Fin. Strength 67
Investment 33
Low Volatility 92
Momentum 19
52W Momentum 14
Net Issuance 82

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

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. 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.

Full company description

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. 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.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Reinet Investments S.C.A. reported revenue of R2.7B in FY2026 versus R416M in FY2022, a compound +59.0%/yr. Reported net income was −R247M in FY2026.

Revenue +59.0%/yr
FY22 R416M
FY23 −R87.0M
FY24 R556M
FY25 R820M
FY26 R2.7B
Net income
FY22 R709M
FY23 −R120M
FY24 R519M
FY25 R795M
FY26 −R247M

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Cite: Fair Value Calculator (2026). "Reinet Investments S.C.A. Fair Value". https://www.fairvalue-calculator.com/stock/RNI

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 100 / 35
FUTURE 100 / 8
PAST 0 / 25
HEALTH 0 / 95
DIVIDEND 0 / 69

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
The Schiehallion Fund Limited MNTN $2.27 $4.54 +100%
BlackRock, Inc UU2 €923.80 €569.37 -38%
Blackstone Inc BX $123.26 $52.88 -57%
BH Macro Limited BHMU $0.0442 $0.0900 +104%
Investor AB INVEB kr 388.65 kr 1,430 +268%
BioPharma Credit PLC BPCR $0.0095 $0.0200 +111%
Brookfield Corporation BN $44.13 $11.09 -75%
KKR & Co KKR $96.90 $61.30 -37%
Brookfield Asset Management Ltd BAM C$66.82 C$34.17 -49%

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Frequently asked questions

Is Reinet Investments S.C.A. (RNI) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of R892.28 versus a price of R446.14, about +100% (undervalued).
What is the fair value of RNI?
Our model-based fair value for Reinet Investments S.C.A. is R892.28 (as of Jul 12, 2026), built from audited fundamentals. The current price is R446.14.
What is the quality score of RNI?
Reinet Investments S.C.A. has a Quality Score of 50/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Reinet Investments S.C.A. (RNI)?
Reinet Investments S.C.A. reported trailing-twelve-month revenue of about 2.6B ZAR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of RNI?
The net profit margin of Reinet Investments S.C.A. is about -9.3%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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