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South Ocean Holdings Ltd (SOH) fair value: what the stock is really worth

As of Sep 15, 2026: fair value of South Ocean Holdings Ltd ZAR 1.11, price ZAR 1.00, upside +11.0%, quality 42 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
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Industrials · ZA · ISIN ZAE000092748

SO Thin data Sep 24, 2026

South Ocean Holdings Ltd

SOH · JSE

Low PriorityFair Value upside is limited and quality is weak.

·Fair value R1.11 · Fairly valued (+11%)
!Quality 42/100
!Expensive Growth (revenue 5y +7.5 %/yr)
!Loss-making · -0.6% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (4/11)
!Narrow moat 19/100
!Evidence only low, so the estimate is less certain
!Weak on future: 27 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

R2.85 R0.5221 Fair Value R1.11 Apr 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 R0.5221 – R2.85 · fair‑value band R0.5500 – R1.67 · the R1.00 price screens below the R1.11 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

South Ocean Holdings Limited, an investment holding company, manufactures and distributes electrical wires in South Africa.

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South Ocean Holdings Limited, an investment holding company, manufactures and distributes electrical wires in South Africa. The company offers bare copper earth wires, general purpose house wires, flat-twin and earth cables, surface wiring products, twin illumination cables, cabtyres, single core flex, solid panel wires, flex power products, ripcord, mains cord, submersible pump cables, nitrile trailing cables, and PVC nitrile welding cables. It also provides flame retardant armoured cables, low halogen armoured cables, armoured cables, single core double PVC cables, single core double PVC and AWA PVC cables, aluminum conductors, aluminum conductor steel reinforced, low-voltage aerial bundle conductors, and conduit pipes. In addition, it is involved in electrical wire manufacturing; manufacturing compounding material; and anchor park investments. It sells its products to wholesalers and distributors who supply the building and construction industries. South Ocean Holdings Limited was founded in 1989 and is based in Alrode, South Africa.

Stock analysis

South Ocean Holdings Ltd (SOH) currently trades at R1.00, while our model-based Fair Value estimate is R1.11, implying the stock looks roughly 9.9% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of R2.44 per share, and 3 of the 5 models we run sit above the R1.00 price.

Bear case: the Dividend Discount group reads lowest at R0.8000, and 2 of the 5 models stay below the price. Evidence for this calculation is low.

Scenario range: R0.5500 (bear) to R1.67 (bull), the price of R1.00 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 42/100 (below-average quality), in the Industrials sector.

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

South Ocean Holdings Ltd reported revenue of 2.5B ZAR in FY2025 versus 2.0B ZAR in FY2021, a compound +5.7%/yr. Reported net income was −15.3M ZAR in FY2025.

Key figures

Market cap 203M ZAC · P/E ratio 14.3 · P/S ratio 0.08 · EPS (TTM) R0.0700 · Dividend yield 5.5% · Net margin −0.6% · Return on equity −2.3% · Return on assets (EBIT) 8.1%.

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 41% below its 52-week high and 85% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −28% fair-value upside, at 11%, SOH screens cheaper than that median.

Fair Value models

Bear R0.5500 Fair Value R1.11 Bull R1.67
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 2025 figures (about 9 months old). Earnings retained since then (0.0512 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
Owner Earnings R1.42 R2.44 R3.95 75
EV/EBITDA R1.22 R1.78 R2.34 67
Gordon GGM R0.4800 R0.9600 R1.46 66
All 5 models by family
DCF Models
Owner Earnings R1.42 R2.44 R3.95 75
Dividend Discount
Gordon GGM R0.4800 R0.9600 R1.46 66
DDM Multi-Stage R0.4800 R0.8000 R1.02 66
Multiples
EV/EBITDA R1.22 R1.78 R2.34 67
Asset-Based
NCAV (Graham) R1.75 R2.35 R3.50 54

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Quality Score breakdown

Overall quality 42/100

Of which business quality 45 · Market factors (momentum, volatility) 31

Profitability 28
Margins and returns on capital today
Quality Growth 13
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 19
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. 23/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−2.6%
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.
+10.1%
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.
+7.5%
Start year 2020 (pandemic). Over 10 years: +4.2% a year
Revenue growth 19 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.
+9.3%
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.
2.2% (2020) → −0.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Electrical Equipment & Parts · 552 stocks

Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside +11% · Top 25%
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) 1% · Below median
Growth and dividend
Revenue growth 5% · Below median
Dividend yield (TTM) 5.5% · Top 25%
Balance sheet
Debt / equity 0.15× · Above median

Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 14.3× · Cheapest 25%
EV/EBITDA 15.0× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)48 · sector 0
FUTURE (revenue growth)27 · sector 58
PAST (return on equity)0 · sector 26
HEALTH (low debt)93 · sector 97
DIVIDEND (yield)100 · sector 23

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$492.80 HK$815.59 +66%
ABB Ltd ABBN CHF 80.50 CHF 29.56 −63%
Vertiv Holdings VRT $248.78 $179.08 −28%
Prysmian S.p.A PRY €122.35 €77.45 −37%
Legrand SA LR €134.60 €82.53 −39%
Sungrow Power Supply Co 300274 ¥88.20 ¥201.23 +128%
Hubbell Incorporated HUBB $463.70 $293.12 −37%
Shenzhen Inovance Technology Co 300124 ¥54.05 ¥47.94 −11%
nVent Electric plc NVT $162.65 $43.54 −73%
HD Hyundai Electric Co 267260 708,000 KRW 778,800 KRW +10%

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South Ocean Holdings Ltd · Fair Value
R1.11 +10%Fair Value
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Cite: Fair Value Calculator (2026). "South Ocean Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SOH

Frequently asked questions

Is South Ocean Holdings Ltd (SOH) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of R1.11 versus the last price from Sep 15, 2026 of R1.00, about +11% upside (undervalued).
What is the fair value of SOH?
Our model-based fair value for South Ocean Holdings Ltd is R1.11 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 15, 2026): R1.00.
What is the quality score of SOH?
South Ocean Holdings Ltd has a Quality Score of 42/100. 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 South Ocean Holdings Ltd (SOH)?
Our model-based price target is the fair value of R1.11 (as of Sep 24, 2026) from 5 valuation models. Cautious scenario R0.5500, optimistic scenario R1.67. It is a calculation from audited fundamentals, not an analyst target.
What is the South Ocean Holdings Ltd stock forecast for 2026?
Our models put fair value at R1.11, about +11% upside versus the last price from Sep 15, 2026 of R1.00 (undervalued). Cautious scenario R0.5500, optimistic scenario R1.67. The calculation is refreshed regularly with new filings.
What is the revenue of South Ocean Holdings Ltd (SOH)?
South Ocean Holdings Ltd reported trailing-twelve-month revenue of about 2.5B ZAR (latest available figure, as of Sep 24, 2026).
Does South Ocean Holdings Ltd pay a dividend?
South Ocean Holdings Ltd currently shows a dividend yield of about 5.50% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of South Ocean Holdings Ltd (SOH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For South Ocean Holdings Ltd it is R1.11 per share (as of Sep 24, 2026), against a price of R1.00. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is South Ocean Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SOH trades below its calculated fair value: price R1.00, fair value R1.11, a gap of about +11% (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 SOH?
No. The price is what the market pays today (R1.00); the fair value is what the company's own numbers justify (R1.11). For South Ocean Holdings Ltd the two are R0.1100 per share apart. That gap is exactly why we show both numbers side by side.
How much is South Ocean Holdings Ltd worth?
The market values South Ocean Holdings Ltd at about 203M ZAC (market capitalisation, as of Sep 24, 2026). Per share that is R1.00; our models calculate a fair value of R1.11 per share.
What do the bullish and bearish scenarios say about SOH?
Our models span a range for South Ocean Holdings Ltd: cautious scenario R0.5500, base R1.11, optimistic R1.67 per share (as of Sep 24, 2026, price R1.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SOH?
South Ocean Holdings Ltd trades at a price-to-earnings ratio of 14.3 (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 R1.11 is built from several models across several years. Other multiples: EV/EBITDA 15.0.
How solid is the balance sheet of South Ocean Holdings Ltd (SOH)?
Balance-sheet figures for South Ocean Holdings Ltd (as of Sep 24, 2026): return on equity −2.3%, debt of 0.15 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is SOH from its 52-week high?
South Ocean Holdings Ltd trades at R1.00, about 41% below its 52-week high of R1.70 and 85% above the low of R0.5400 (as of Sep 15, 2026). Distance from the high says nothing about value: that is what the fair value of R1.11 is for.
Which stocks are comparable to South Ocean Holdings Ltd?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Prysmian S.p.A, 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 South Ocean Holdings Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price R1.00, calculated fair value R1.11 (+11%), Quality Score 42/100, from 5 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 SOH calculated?
We run South Ocean Holdings Ltd through 5 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 R1.11, 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 13.0 % above its aggregate fair value. South Ocean Holdings Ltd currently trades 11 % 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 South Ocean Holdings Ltd (SOH)?
The latest price we hold is from Sep 15, 2026 and stands at R1.00. Our model-based fair value is R1.11, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with South Ocean Holdings Ltd right now?
The model range is unusually wide (R0.5500 to R1.67). The outcome hinges heavily on assumptions, so read the point estimate with caution. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of South Ocean Holdings Ltd

How large is the market capitalisation of South Ocean Holdings Ltd (SOH)?
The market capitalisation of South Ocean Holdings Ltd is 203M 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 South Ocean Holdings Ltd (SOH)?
The price-to-sales ratio of South Ocean Holdings Ltd is 0.08 (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 South Ocean Holdings Ltd (SOH)?
Earnings per share at South Ocean Holdings Ltd are R0.0700 (price ÷ EPS = P/E 14.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of South Ocean Holdings Ltd (SOH)?
The dividend yield of South Ocean Holdings Ltd is 5.5% (payout 78.6%). 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 South Ocean Holdings Ltd (SOH)?
The net margin of South Ocean Holdings Ltd is −0.6% (fiscal year 2025). 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 South Ocean Holdings Ltd (SOH)?
The return on equity (ROE) of South Ocean Holdings Ltd is −2.3% (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 South Ocean Holdings Ltd (SOH)?
On an EBIT basis the return on assets of South Ocean Holdings Ltd is 8.1% (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 South Ocean Holdings Ltd (SOH)?
The operating margin of South Ocean Holdings Ltd is 1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at South Ocean Holdings Ltd (SOH)?
Revenue at South Ocean Holdings Ltd is growing +5.3% versus a year earlier (3y avg +10.1%). 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 South Ocean Holdings Ltd (SOH)?
Earnings per share at South Ocean Holdings Ltd are growing −10.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does South Ocean Holdings Ltd (SOH) generate?
The free cash flow of South Ocean Holdings Ltd is −122M ZAC (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does South Ocean Holdings Ltd (SOH) carry?
The net debt of South Ocean Holdings Ltd is 231M ZAC (fiscal year 2025). 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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