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Shoprite Holdings (SHP) ZAR

At a glance: strengths & risks
Revenue growing (+9%)Profit growing (+21%)Net cash balance sheet

Sector: Retail

ZA_SHP

Price chart

297.15 ZARDay -3.24%

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
297.15 ZAR · -3.24%
Market cap
160.9 bn ZAR

Growth

Δ revenue y/y
7.2%
Δ EBITDA y/y
6.5%

Multiples

P/E (LTM)
21.2x
P/B (FY)
5.3x
P/E (ann.)
21.7x
EV/EBITDA (LTM)
6.6x
EV/EBITDA (ann.)
6.2x

Cash return

Dividend yield
2.7%
FCF yield (LTM)
1.8%

Value creation

fundamental value/yr, % of market cap
Value created / year

Liquidity

Daily turnover (listing)
251.2 mln ZAR

Shares: yahoo_fundamentals_timeseries/SHP.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
2025-12-28H1 2026 (6M)OK136.8
y/y 7.2%
7.4
y/y 6.7%
4.9
y/y 6.2%
12.3
y/y 6.5%
3.7
y/y -0.3%
16.1-3.9137.0
y/y 8.9%
30.6
y/y 10.8%
24.4%-8.3Link
2025-06-30FY 2025 (12M)OK252.7
y/y 8.9%
13.7
y/y 17.5%
9.4
y/y 15.2%
23.1
y/y 16.6%
7.6
y/y 21.4%
11.0-8.0124.9
y/y 11.2%
30.2
y/y 8.6%
26.2%-1.1Link
2024-12-29H1 2025 (6M)OK127.6
y/y 8.7%
7.0
y/y 15.7%
4.6
y/y 18.3%
11.6
y/y 16.7%
3.7
y/y 11.3%
6.3-4.2125.8
y/y 16.5%
27.6
y/y 3.6%
26.8%-5.5Link
2024-06-30H2 2024 (6M)OK114.7
y/y 5.5%
5.7
y/y 6.6%
4.2
y/y 12.9%
9.9
y/y 9.2%
2.9
y/y 5.1%
4.3-4.0112.3
y/y 9.6%
27.8
y/y 6.4%
22.9%-2.8Link
2023-12-31H1 2024 (6M)OK117.4
y/y
6.0
y/y
3.9
y/y
9.9
y/y
3.3
y/y
9.5-3.7108.0
y/y
26.7
y/y
25.3%-3.7Link
2023-06-30H2 2023 (6M)OK108.7
y/y
5.3
y/y
3.8
y/y
9.1
y/y
2.8
y/y
0.5-3.3102.5
y/y
26.1
y/y
22.6%0.4Link
2023-01-01H1 2023 (6M)OK106.3
y/y
5.1
y/y
3.4
y/y
8.5
y/y
3.1
y/y
9.4-3.497.0
y/y
26.0
y/y
-3.8Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values (ZAR mln)

050 000100 000150 0002023 H12023 H22024 H12024 H22025 H12025 H2

Year-over-year change

0%5%10%15%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)

-10 000-8 000-6 000-4 000-2 00002023 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 1.56x of reported net profit; after capex, 0.46x.
year2022202320242025
cash flow / profit1.17x1.67x2.21x1.45x
accruals, % of assets-1.1%-3.9%-6.8%-2.7%
Last twelve months (to 2025-12-28): 2.74x of profit came back as operating cash flow.
net debt / EBITDA -0.0x · capex 0.9x 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: +8.3%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2025-12-28 vs 2024-12-29)
= (12 305 − 11 553) × 1.94
1 456
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (160 889 + -8 330) ÷ 23 827
6.4x
3. Target multiple
(Current EV/EBITDA + 8) ÷ 2
= (6.4 + 8) ÷ 2
7.2x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 2 837 + 0 + 0 − 0
2 837
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (1 456 × 7.2 + 2 837) ÷ 160 889
+8.3%

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 +9% vs +8% the year before — a +0.9 pp move. 3-year CAGR +11%.
revenue growth by year: 2023 +17% · 2024 +8% · 2025 +9%
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
2026-03-25307 ZAREx-dividend: 307 ZAR per sharePaidYahoo Finance (ex-div)
2025-09-23496 ZAREx-dividend: 496 ZAR per sharePaidYahoo Finance (ex-div)
2025-03-26285 ZAREx-dividend: 285 ZAR per sharePaidYahoo Finance (ex-div)
2024-09-25445 ZAREx-dividend: 445 ZAR per sharePaidYahoo Finance (ex-div)
2024-03-26267 ZAREx-dividend: 267 ZAR per sharePaidYahoo Finance (ex-div)
2023-09-27415 ZAREx-dividend: 415 ZAR per sharePaidYahoo Finance (ex-div)
2023-04-04248 ZAREx-dividend: 248 ZAR per sharePaidYahoo Finance (ex-div)
2022-09-28367 ZAREx-dividend: 367 ZAR per sharePaidYahoo Finance (ex-div)
2022-04-06233 ZAREx-dividend: 233 ZAR per sharePaidYahoo Finance (ex-div)
2021-09-29353 ZAREx-dividend: 353 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).

Investor reporting (IR): https://www.shopriteholdings.co.za/investor-centre.html

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 Shoprite Holdings (SHP) — from primary filings.

Shoprite Holdings is a South African investment holding company that operates supermarkets, hypermarkets, and franchise stores, selling food, clothing, general merchandise, cosmetics, liquor, and pharmaceutical products. It also runs furniture stores and provides services such as ticketing, car rental, and stadium management.

Frequently asked questions

What is Shoprite Holdings (SHP)'s P/E ratio?
Shoprite Holdings (SHP) trades at a P/E of 21.2x (price to trailing 12-month earnings).
What is Shoprite Holdings (SHP)'s EV/EBITDA?
Shoprite Holdings (SHP) trades at 6.6x EV/EBITDA.
What is Shoprite Holdings (SHP)'s P/B ratio?
Shoprite Holdings (SHP) trades at a P/B of 5.3x.
What is Shoprite Holdings (SHP)'s dividend yield?
Shoprite Holdings (SHP)'s trailing 12-month dividend yield is 2.7%.
What is Shoprite Holdings (SHP)'s return on equity (ROE)?
Shoprite Holdings (SHP)'s ROE is 24.4%.
What is Shoprite Holdings (SHP)'s market capitalization?
Shoprite Holdings (SHP)'s market cap is 160.9 bn ZAR.

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