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Zambeef Products PLC (ZAM) Fair Value & Analysis

Consumer Defensive · GB · Market cap 30.5M GBX

What is Zambeef Products PLC really worth?

ZP Zambeef Products PLC ZAM · LSE
Price£0.0525
Fair Value£0.0425
Upside−19.1%
Quality23/100

Below-average quality, and trading another 24% above our fair value of £0.0425.

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Risks

!Mixed Growth (revenue 5y +14.5 %/yr)
!Thin margins · 3.2% net margin
!Low debt · negative free cash flow
!Trails peers (3/11)
!Narrow moat 33/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 8 out of 100
!Weak on future: 12 out of 100
Evidence: Low Range £0.0354 – £0.0496

Fair value as of: Aug 22, 2026

From 17 valuation models · updated 10 days ago

Share price +7.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (£0.0496). The favourable scenario is already priced in.
  • Weak quality (23/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

£0.1020 £0.0315 Fair Value £0.0425 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range £0.0315 – £0.1020 · fair‑value band £0.0354 – £0.0496 · the £0.0525 price screens above the £0.0425 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Zambeef Products PLC (ZAM) currently trades at £0.0525, while our model-based Fair Value estimate is £0.0425, implying the stock looks roughly 23.5% overvalued today. The Quality Score stands at 23/100 (below-average quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of £0.0947 per share, and 8 of the 17 models we run sit above the £0.0525 price. Bear case: the Economic Profit group reads lowest at £0.0417, and 9 of the 17 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Zambeef Products PLC generated revenue of £7.7B at a net margin of 2.8%. Revenue grew 8.1% year over year. It earns a return on equity of 4.0%. Net debt stands at £2.2B. Fundamentals as of Aug 22, 2026

Our scenario range runs from £0.0354 (bear case) to £0.0496 (bull case); at £0.0525, the current price sits above 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 Consumer Defensive peers we cover trades at −25% fair-value upside, at −19%, ZAM screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly £0.0276 per share, which is 65.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model 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
Highest evidence
Residual Income best evidence £0.0451 £0.0417 £0.0308 76
EPV £0.0367 £0.0419 £0.0460 74
Owner Earnings £0.0453 £0.0947 £0.1809 72
All 17 models by family
DCF Models
Owner Earnings £0.0453 £0.0947 £0.1809 72
Earnings-Based
Graham-Dodd £0.0166 £0.1159 £0.1626 63
Lynch FV £0.0409 £0.0584 £0.0759 61
PEG = 1.0 £0.0409 £0.0584 £0.0759 57
EPV £0.0367 £0.0419 £0.0460 74
Dividend Discount
Gordon GGM £0.0001 £0.0001 £0.0001 67
DDM Multi-Stage £0.0001 £0.0001 £0.0001 67
Multiples
P/E Multiple £0.0385 £0.0513 £0.0641 63
P/S Multiple £0.0312 £0.0415 £0.0519 58
P/B Multiple £0.0312 £0.0415 £0.0519 55
EV/EBIT £0.0786 £0.1068 £0.1350 66
EV/EBITDA £0.0809 £0.1099 £0.1388 67
EV/Revenue £0.0544 £0.0803 £0.1061 53
Asset-Based
NCAV (Graham) £0.0345 £0.0463 £0.0691 54
Economic Profit
Residual Income best evidence £0.0451 £0.0417 £0.0308 76
ROIC Compounder £0.0367 £0.0419 £0.0460 72
Growth Earnings
Growth-Adj P/E £0.0531 £0.0759 £0.0986 67

Widest divergence: DCF Models (£0.0947) versus Dividend Discount (£0.0001). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 2.6
P/S ratio 0.08 P/E × margin
EPS (TTM) £0.0200 price ÷ EPS = P/E 2.6
Dividend yield 4.5% payout 11.9%
Net margin 3.0% FY2025
Return on equity 4.0% TTM
More key figures
Profitability
Return on assets (EBIT) 4.7% avg 5y
Growth
Revenue (TTM) £7.7B TTM
Revenue growth (YoY) +8.1% 3y avg +12.2%
EPS growth (YoY) +60.1%
Balance sheet & cash flow
Free cash flow −3.0M GBX FY2025
Net debt 2.2B GBX FY2025

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 23/100

Of which business quality 25 · Market factors (momentum, volatility) 70

Profitability 31
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Zambeef Products PLC, together with its subsidiaries, engages in the agri-businesses in Zambia, Nigeria, and Ghana. It operates through Retailing and Food Production and Cropping and Milling segments.

Full company description

Zambeef Products PLC, together with its subsidiaries, engages in the agri-businesses in Zambia, Nigeria, and Ghana. It operates through Retailing and Food Production and Cropping and Milling segments. The company engages in the production, processing, distribution, and retailing of beef, chicken, pork, fish, milk, dairy, leather, eggs, edible oils, flour, day-old chick, and stockfeed products. It is also involved in the row cropping operations, such as maize, soya beans, and wheat, as well as flour mill and bread. In addition, the company operates transport and trucking fleets; and processes and sells leather, shoes, and poultry products, as well as chicken breeding. It operates distribution and retail outlets directly to end-consumers. The company serves its products through Zambeef Farming, Novatek, Zambeef, Zammilk, Zamhatch, Zamchick, Master Pork, Zamflour, Zamloaf, and Zamshu brand names. Zambeef Products PLC was incorporated in 1994 and is based in Lusaka, Zambia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zambeef Products PLC reported revenue of 7.6B ZMW in FY2025 versus 5.0B ZMW in FY2021, a compound +11.2%/yr. Reported net income was 226M ZMW in FY2025, compounding +7.7%/yr from FY2021.

Growth Quality 50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£7.6B
Latest YoY
+4.1%
Avg. revenue growth/yr (3Y) 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.
+12.2%
Avg. revenue growth/yr (5Y) 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.
+14.5%
Avg. revenue growth/yr (17Y) 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.
+17.5%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+23.9% (19.4 + 4.5)
Revenue +11.2%/yr
FY21 5.0B ZMW
FY22 5.4B ZMW
FY23 6.0B ZMW
FY24 7.3B ZMW
FY25 7.6B ZMW
Net income +7.7%/yr
FY21 168M ZMW
FY22 29.2M ZMW
FY23 119M ZMW
FY24 180M ZMW
FY25 226M ZMW

ZAM screens 24% overvalued. Compare with Nestlé S.A →

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Cite: Fair Value Calculator (2026). "Zambeef Products PLC Fair Value". https://www.fairvalue-calculator.com/stock/ZAM

Peer Group

Packaged Foods · 670 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.

Quality Score 23 · Bottom 25%
Fair Value upside −19% · Below median
Return on equity (TTM) 5% · Below median
Return on assets 7% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 2% · Below median
Dividend yield (TTM) 4.5% · Above median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 2.6× · Cheaper than 75% of peers
PEG 452.38× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE8 · sector 24
FUTURE12 · sector 20
PAST18 · sector 27
HEALTH94 · sector 96
DIVIDEND90 · sector 54

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
Nestlé India Limited NESTLEIND ₹1,478 ₹251.94 −83%
The Kraft Heinz Company KHC $25.13 $24.59 −2%
Foshan Haitian Flavouring and Food Company 603288 ¥35.05 ¥21.93 −37%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
General Mills, Inc GIS $40.44 $28.32 −30%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
McCormick & Company MKCV $55.65 $43.29 −22%

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Frequently asked questions

Is Zambeef Products PLC (ZAM) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of £0.0425 versus a price of £0.0525, about −19% upside (overvalued).
What is the fair value of ZAM?
Our model-based fair value for Zambeef Products PLC is £0.0425 (as of Aug 22, 2026), built from audited fundamentals. The current price: £0.0525.
What is the quality score of ZAM?
Zambeef Products PLC has a Quality Score of 23/100. 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 revenue of Zambeef Products PLC (ZAM)?
Zambeef Products PLC reported trailing-twelve-month revenue of about £7.7B (latest available figure, as of Aug 22, 2026).
What is the net profit margin of ZAM?
The net profit margin of Zambeef Products PLC is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does Zambeef Products PLC pay a dividend?
Zambeef Products PLC currently shows a dividend yield of about 4.52% relative to its recent price (as of Aug 22, 2026).
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