Wilson Bayly Holmes-Ovcon Limited (WBO) Fair Value & Analysis
Industrials · ZA · Market cap 8.8B ZAC
Fair value as of: Jul 16, 2026
From 26 valuation models · updated 26 days ago
Share price −6.0% over the past month.
A solid business, screening 197% undervalued on our models.
What matters now
- The price is below even our cautious bear case (R376.40). The market is more pessimistic than our downside scenario.
- Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range R76.51 – R251.98 · fair‑value band R376.40 – R627.33 · the R168.98 price screens below the R501.86 fair value. Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Wilson Bayly Holmes-Ovcon Limited (WBO) currently trades at R168.98, while our model-based Fair Value estimate is R501.86, implying the stock looks roughly 197.0% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Industrials 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: high), always confirm before acting.
Over the trailing twelve months, Wilson Bayly Holmes-Ovcon Limited generated revenue of 27.9B ZAR at a net margin of 4.4%. Revenue declined 4.3% year over year. It earns a return on equity of 23.9%. The balance sheet holds a net cash position of 3.5B ZAR. Fundamentals as of Jul 16, 2026
Our scenario range runs from R376.40 (bear case) to R627.33 (bull case); at R168.98, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 197%, WBO screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models (R564.07) versus Asset-Based (R68.71). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 43
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
Wilson Bayly Holmes-Ovcon Limited operates as a construction company in South Africa, rest of Africa, and the United Kingdom.
Full company description
Wilson Bayly Holmes-Ovcon Limited operates as a construction company in South Africa, rest of Africa, and the United Kingdom. It undertakes construction of buildings, including retail, commercial offices, residential, healthcare, hotels and entertainment, warehousing and industrial, and data centres; civil engineering and infrastructure for mining, industrial, and water and energy infrastructure; and roads and earthworks, such as road and bridges, bulk earthworks, dams, oil and gas, and rail and pipeline infrastructure projects. The company also undertakes construction of airports, toll roads, renewable energy, and serviced accommodation; and manufactures, supplies, and installs long-steel products. Wilson Bayly Holmes-Ovcon Limited was founded in 1970 and is headquartered in Johannesburg, South Africa.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Wilson Bayly Holmes-Ovcon Limited reported revenue of R28.5B in FY2025 versus R19.5B in FY2021, a compound +10.0%/yr. Reported net income was R1.2B in FY2025, compounding +40.8%/yr from FY2021.
of which total revenue −0.8 pp · buybacks/dilution +0.5 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
Watch WBO: get an alert when its fair value changes →
Peer Group
Engineering & Construction · 842 stocks
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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹96.32 | ₹48.22 | -50% |
| Cemindia Projects Limited CEMPRO | ₹1,330 | ₹730.69 | -45% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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Frequently asked questions
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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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