Sab Zenzele Kabili Holdings (SZK) fair value: what the stock is really worth
As of Nov 3, 2026: fair value (intrinsic value) of Sab Zenzele Kabili Holdings stock ZAR 67.98, price ZAR 33.99, upside +100.0%, quality 48 out of 100. Rating: strongly undervalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
SAB Zenzele Kabili Holdings (RF) Limited produces, markets, distributes, and sells beer. Its beer brands include Corona and Stella Artois. The company was incorporated in 2019 and is based in Johannesburg, South Africa.
Stock analysis
Sab Zenzele Kabili Holdings (SZK) currently trades at R33.99, while our model-based Fair Value estimate is R67.98, implying the stock looks roughly 50% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of R121.18 per share, and 9 of the 9 models we run sit above the R33.99 price.
Bear case: the Asset-Based group reads lowest at R44.05, and 0 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: R42.51 (bear) to R91.45 (bull), the price of R33.99 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 48/100 (below-average quality), in the Financial Services sector.
Sab Zenzele Kabili Holdings reported revenue of 0 ZAR in FY2023 versus 0 ZAR in FY2020. Reported net income was 426M ZAR in FY2023.
Key figures
Market cap 1.4B ZAR Micro · P/E ratio 4.2 · P/S ratio 11.2 · EPS (TTM) R8.06 · Return on equity 30.1% · Return on assets (EBIT) −3.0% (4-year average) · Operating margin −3.0% · Revenue (TTM) 123M ZAR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −51% fair-value upside, at 100%, SZK screens cheaper than that median.
Fair Value models
BearR42.51Fair Value R67.98BullR91.45
Price R33.99 · Upside +100.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
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.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
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).
+25.6%
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 +21.6% a year for the price.
Compare Sab Zenzele Kabili Holdings with another stock
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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.Shell Companies · 30 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+100.0% · Top 25%
Profitability
Return on equity (12 months)30.1% · Top 25%
Return on assets6.9% · Top 25%
Operating margin (12 months)−3.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)44.4% · Top 25%
Valuation Multiplesvs Shell Companies median · lower = cheaper
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Is Sab Zenzele Kabili Holdings (SZK) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of R67.98 versus a price of R33.99, about +100% upside (undervalued).
What is the fair value of SZK?
Our model-based fair value for Sab Zenzele Kabili Holdings is R67.98 (as of Nov 9, 2026), built from audited fundamentals. The current price: R33.99.
What is the quality score of SZK?
Sab Zenzele Kabili Holdings has a Quality Score of 48/100. 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 Sab Zenzele Kabili Holdings (SZK)?
Our model-based price target is the fair value of R67.98 (as of Nov 9, 2026) from 9 valuation models. Cautious scenario R42.51, optimistic scenario R91.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Sab Zenzele Kabili Holdings stock forecast for 2026?
Our models put fair value at R67.98, about +100% upside versus a price of R33.99 (undervalued). Cautious scenario R42.51, optimistic scenario R91.45. The calculation is refreshed regularly with new filings.
What is the revenue of Sab Zenzele Kabili Holdings (SZK)?
Sab Zenzele Kabili Holdings reported trailing-twelve-month revenue of about 123M ZAR (latest available figure, as of Nov 9, 2026).
What growth is priced into Sab Zenzele Kabili Holdings (SZK)?
For today's price to be fair in a discounted-cash-flow model, Sab Zenzele Kabili Holdings would have to grow free cash flow by +25.6 % per year for five years (discount rate 14.9 %, then slowing evenly to 2 % perpetual growth by year ten). As of Nov 9, 2026.
What discount rate (WACC) does the fair value of SZK use?
Our models discount Sab Zenzele Kabili Holdings at 14.9 %: a base by market capitalisation (micro), damped by beta 0.19, 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 Sab Zenzele Kabili Holdings that is +25.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (14.9 %) and the same formula as our fair value.
How fast is the sector of Sab Zenzele Kabili Holdings (SZK) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Sab Zenzele Kabili Holdings (+25.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sab Zenzele Kabili Holdings (SZK)?
The free-cash-flow yield on the price is 4.04 %: that much free cash flow Sab Zenzele Kabili Holdings produces per unit of market value. When it exceeds the discount rate of our models (14.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sab Zenzele Kabili Holdings (SZK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sab Zenzele Kabili Holdings it is R67.98 per share (as of Nov 9, 2026), against a price of R33.99. It is the blended result of 9 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Sab Zenzele Kabili Holdings stock overvalued or undervalued in 2026?
As of Nov 9, 2026, SZK trades below its calculated fair value: price R33.99, fair value R67.98, 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 SZK?
No. The price is what the market pays today (R33.99); the fair value is what the company's own numbers justify (R67.98). For Sab Zenzele Kabili Holdings the two are R33.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sab Zenzele Kabili Holdings worth?
The market values Sab Zenzele Kabili Holdings at about 1.4B ZAR (market capitalisation, as of Nov 9, 2026). Per share that is R33.99; our models calculate a fair value of R67.98 per share.
What do the bullish and bearish scenarios say about SZK?
Our models span a range for Sab Zenzele Kabili Holdings: cautious scenario R42.51, base R67.98, optimistic R91.45 per share (as of Nov 9, 2026, price R33.99). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SZK?
Sab Zenzele Kabili Holdings trades at a price-to-earnings ratio of 4.2 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R67.98 is built from several models across several years. Other multiples: P/B 0.5, P/S 11.2.
How solid is the balance sheet of Sab Zenzele Kabili Holdings (SZK)?
Balance-sheet figures for Sab Zenzele Kabili Holdings (as of Nov 9, 2026): return on equity 30.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is SZK from its 52-week high?
Sab Zenzele Kabili Holdings trades at R33.99, about 8% below its 52-week high of R37.00 and 17% above the low of R29.00 (as of Nov 3, 2026). Distance from the high says nothing about value: that is what the fair value of R67.98 is for.
Which stocks are comparable to Sab Zenzele Kabili Holdings?
From the same area (Financial Services) we also value Vylor Inc, Lionheart III Corp, AA Mission Acquisition Corp, Berto Acquisition Corp, 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 Sab Zenzele Kabili Holdings stock attractive at the current price?
The data as of Nov 9, 2026: price R33.99, calculated fair value R67.98 (+100%), Quality Score 48/100, from 9 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 SZK calculated?
We run Sab Zenzele Kabili Holdings through 9 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of R67.98 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. Sab Zenzele Kabili Holdings 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 Sab Zenzele Kabili Holdings (SZK)?
The closing price on Nov 3, 2026 was R33.99. Our model-based fair value is R67.98, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sab Zenzele Kabili Holdings right now?
The large discount to fair value meets weak quality (48/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (R42.51). 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. A fairly wide model range (R42.51 to R91.45) leaves room in how you read the outcome.
Key figures of Sab Zenzele Kabili Holdings
How large is the market capitalisation of Sab Zenzele Kabili Holdings (SZK)?
The market capitalisation of Sab Zenzele Kabili Holdings is 1.4B 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 Sab Zenzele Kabili Holdings (SZK)?
The price-to-sales ratio of Sab Zenzele Kabili Holdings is 11.2 (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 Sab Zenzele Kabili Holdings (SZK)?
Earnings per share at Sab Zenzele Kabili Holdings are R8.06 (price ÷ EPS = P/E 4.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Sab Zenzele Kabili Holdings (SZK)?
The return on equity (ROE) of Sab Zenzele Kabili Holdings is 30.1% (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 Sab Zenzele Kabili Holdings (SZK)?
On an EBIT basis the return on assets of Sab Zenzele Kabili Holdings is −3.0% (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 Sab Zenzele Kabili Holdings (SZK)?
The operating margin of Sab Zenzele Kabili Holdings is −3.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sab Zenzele Kabili Holdings (SZK)?
Revenue at Sab Zenzele Kabili Holdings is growing +44.4% 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 Sab Zenzele Kabili Holdings (SZK)?
Earnings per share at Sab Zenzele Kabili Holdings are growing −39.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sab Zenzele Kabili Holdings (SZK) carry?
The net debt of Sab Zenzele Kabili Holdings is 2.4M ZAR (fiscal year 2023, ≈ 0.0 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 9, 2026