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Remgro ZAR

At a glance: strengths & risks
✓Profit growing (+166%)✓Margins improving (3%→8%)✓Net cash balance sheet

Sector: Investment holding

ZA_REM

Price chart

191.22 ZARDay -0.25%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
191.22 ZAR · -0.25%
Market cap
106.3 bn ZAR

Growth

Δ revenue y/y
2.8%
Δ EBITDA y/y
4.5%

Multiples

P/E (LTM)
22.1x
P/B (FY)
0.9x
P/E (ann.)
10.3x
EV/EBITDA (LTM)
22.5x
EV/EBITDA (ann.)
18.3x

Cash return

Dividend yield
3.2%
FCF yield (LTM)
2.3%

Value creation

fundamental value/yr, % of market cap
Value created / year
+5.1%
↓ details

Liquidity

Daily turnover (listing)
145.2 mln ZAR

Shares: yahoo_fundamentals_timeseries/REM.JO

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B ZAR, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB ZAROperating profitB ZARD&AB ZAREBITDAB ZARNet profitB ZAROperating CFB ZARCapex + M&AB ZARAssetsB ZAREquityB ZARROE (annualized)Net debtB ZARSource
2025-12-31H1 2026 (6M)OK27.1
y/y 2.8%
2.0
y/y 3.1%
0.7
y/y 9.0%
2.7
y/y 4.5%
5.2
y/y 41.3%
5.8-0.9146.7
y/y -0.8%
126.3
y/y -1.5%
8.5%-6.4Link
2025-06-30H2 2025 (6M)OK26.6
y/y -1.6%
1.0
y/y 192.5%
0.7
y/y 15.5%
1.7
y/y 412.2%
-0.4
y/y -112.3%
2.1-1.1142.2
y/y 2.2%
117.0
y/y 4.4%
2.7%-5.0—
2024-12-31H1 2025 (6M)OK26.4
y/y 3.9%
2.0
y/y 33.3%
0.6
y/y 13.9%
2.6
y/y 28.1%
3.7
y/y —
2.9-0.8147.9
y/y 5.7%
128.3
y/y 9.7%
6.1%-3.9Link
2024-06-30H2 2024 (6M)OK27.0
y/y —
-1.1
y/y —
0.6
y/y —
-0.5
y/y —
2.9
y/y —
2.1-1.1139.2
y/y -7.4%
112.1
y/y -2.7%
1.1%-0.9—
2023-12-31H1 2024 (6M)OK25.4
y/y —
1.5
y/y —
0.5
y/y —
2.0
y/y —
-1.6
y/y —
1.0-0.8139.9
y/y —
116.9
y/y —
-2.8%1.9Link
2023-06-30FY 2023 (12M)OK50.6
y/y —
4.8
y/y —
2.3
y/y —
7.1
y/y —
9.6
y/y —
1.4-3.3150.3
y/y —
115.3
y/y —
—6.2—

Revenue & EBITDA

RevenueEBITDA

Quarterly values (ZAR mln)

-10 000010 00020 00030 0002023 H12023 H22024 H12024 H22025 H12025 H2

Year-over-year change

-150%-100%-50%0%50%2023 H12023 H22024 H12024 H22025 H12025 H2

Cash flow

FCF (ZAR mln)

-4 000-2 00002 0004 0006 0002023 H12023 H22024 H12024 H22025 H12025 H2

Net debt / cash (ZAR mln)

-10 000-5 00005 0002023 H12023 FY2024 H12024 FY2025 H12025 FY

Profit and cash

Profit is cash-backed
In a typical year of 2022–2025 operating cash flow came to 1.02x of reported net profit; after capex, 0.60x.
year2022202320242025
cash flow / profit0.54x0.15x2.53x1.51x
accruals, % of assets3.9%5.5%-1.4%-1.2%
Last twelve months (to 2025-12-31): 1.63x of profit came back as operating cash flow.
net debt / EBITDA -1.1x · capex 1.5x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +5.1%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2025-12-31 vs 2024-12-31)
= (2 728 − 2 610) × 1.63
192
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (106 292 + -6 431) ÷ 4 439
22.5x
3. Target multiple
(Current EV/EBITDA + 8) ÷ 2
= (22.5 + 8) ÷ 2
15.2x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 2 496 + 0 + 0 − 0
2 496
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (192 × 15.2 + 2 496) ÷ 106 292
+5.1%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • half-year basis (semi-annual reporter)
  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +1% vs +4% the year before — a -2.5 pp move. 3-year CAGR +7%.
revenue growth by year: 2023 +17% · 2024 +4% · 2025 +1%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-04-22173 ZAREx-dividend: 173 ZAR per sharePaidYahoo Finance (ex-div)
2025-10-22448 ZAREx-dividend: 448 ZAR per sharePaidYahoo Finance (ex-div)
2025-04-1596 ZAREx-dividend: 96 ZAR per sharePaidYahoo Finance (ex-div)
2024-11-13184 ZAREx-dividend: 184 ZAR per sharePaidYahoo Finance (ex-div)
2024-04-1780 ZAREx-dividend: 80 ZAR per sharePaidYahoo Finance (ex-div)
2023-11-08160 ZAREx-dividend: 160 ZAR per sharePaidYahoo Finance (ex-div)
2023-04-1980 ZAREx-dividend: 80 ZAR per sharePaidYahoo Finance (ex-div)
2022-11-09100 ZAREx-dividend: 100 ZAR per sharePaidYahoo Finance (ex-div)
2022-04-2050 ZAREx-dividend: 50 ZAR per sharePaidYahoo Finance (ex-div)
2021-11-1760 ZAREx-dividend: 60 ZAR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Remgro — from primary filings.

Remgro Limited is a South African investment holding company that acquires significant stakes in a diverse range of industries, including financial services, food and beverages, healthcare, and infrastructure, primarily in Africa and select international markets. It provides strategic support and board representation to its investee companies without engaging in their day-to-day management.

Frequently asked questions

What is Remgro's P/E ratio?
Remgro trades at a P/E of 22.1x (price to trailing 12-month earnings).
What is Remgro's EV/EBITDA?
Remgro trades at 22.5x EV/EBITDA.
What is Remgro's P/B ratio?
Remgro trades at a P/B of 0.9x.
What is Remgro's dividend yield?
Remgro's trailing 12-month dividend yield is 3.2%.
What is Remgro's return on equity (ROE)?
Remgro's ROE is 8.5%.
What is Remgro's market capitalization?
Remgro's market cap is 106.3 bn ZAR.

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