Buy Or Sell Opportunity • May 04
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to R1.99. The fair value is estimated to be R2.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 11%. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to R1.99, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 28x in the Software industry in Africa. Total returns to shareholders of 129% over the past three years. Upcoming Dividend • Nov 26
Upcoming dividend of R0.094 per share Eligible shareholders must have bought the stock before 03 December 2025. Payment date: 08 December 2025. Payout ratio and cash payout ratio are on the higher end at 100% and 90% respectively. Trailing yield: 6.9%. Lower than top quartile of South African dividend payers (7.6%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R2.45, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 27x in the Software industry globally. Total returns to shareholders of 162% over the past three years. Reported Earnings • Nov 09
First half 2026 earnings released: EPS: R0.094 (vs R0.085 in 1H 2025) First half 2026 results: EPS: R0.094 (up from R0.085 in 1H 2025). Revenue: R68.8m (up 53% from 1H 2025). Net income: R14.6m (up 11% from 1H 2025). Profit margin: 21% (down from 29% in 1H 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R2.15, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 24x in the Software industry in Africa. Total returns to shareholders of 149% over the past three years. Buy Or Sell Opportunity • Nov 04
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to R2.15. The fair value is estimated to be R1.76, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 18%. Upcoming Dividend • Jul 09
Upcoming dividend of R0.17 per share Eligible shareholders must have bought the stock before 16 July 2025. Payment date: 21 July 2025. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 8.8%. Within top quartile of South African dividend payers (8.3%). Higher than average of industry peers (0.7%). Reported Earnings • May 29
Full year 2025 earnings released: EPS: R0.17 (vs R0.19 in FY 2024) Full year 2025 results: EPS: R0.17 (down from R0.19 in FY 2024). Revenue: R117.7m (up 17% from FY 2024). Net income: R26.1m (down 12% from FY 2024). Profit margin: 22% (down from 29% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 20% per year. Declared Dividend • May 26
Dividend of R0.17 announced Shareholders will receive a dividend of R0.17. Ex-date: 16th July 2025 Payment date: 21st July 2025 Dividend yield will be 9.0%, which is higher than the industry average of 0.8%. Sustainability & Growth The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. New Risk • May 25
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended February 2024. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported February 2024 fiscal period end). High level of non-cash earnings (24% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (R288.6m market cap, or US$16.2m). Annonce • May 24
ISA Holdings Limited, Annual General Meeting, Jun 25, 2025 ISA Holdings Limited, Annual General Meeting, Jun 25, 2025. Annonce • May 23
ISA Holdings Limited Declares Final Ordinary Dividend for the Year Ended 28 February 2025, Payable on 21 July 2025 ISA Holdings Limited declared a final ordinary dividend to shareholders for the year ended 28 February 2025 of 16.7 cents per share, which will be subject to dividend tax legislation. Declaration date is 23 May 2025. Payment date is 21 July 2025. Record date is 18 July 2025. Last day to trade is 15 July 2025. Shares trade ex-dividend is 16 July 2025. The South African dividend tax (DT) rate is 20%. The net ordinary dividend payable to shareholders who are not exempt from DT is therefore 13.36 cents per share, while a gross ordinary dividend of 16.7 cents per share is payable to those shareholders who are exempt from DT. New Risk • May 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported February 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.5% average weekly change). Market cap is less than US$100m (R308.9m market cap, or US$16.9m). Annonce • Apr 23
ISA Announces the Passing of Desmond Charles Seaton, an Independent Non-Executive Director of ISA and the Chairperson of the Audit and Risk Committee on 20 April 2025 The board of directors of ISA announced the passing of Mr. Desmond Charles Seaton, an independent non-executive director of ISA and the chairperson of the Audit and Risk committee on 20 April 2025.
The Board will convene in due course to discuss changes to the Board and its committees, which changes will
be communicated once finalised. New Risk • Dec 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended February 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.5% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported February 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (R288.6m market cap, or US$16.2m). Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to R1.89, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 33x in the Software industry globally. Total returns to shareholders of 260% over the past three years. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R1.96, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 30x in the Software industry globally. Total returns to shareholders of 288% over the past three years. Upcoming Dividend • Jul 10
Upcoming dividend of R0.11 per share Eligible shareholders must have bought the stock before 17 July 2024. Payment date: 22 July 2024. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 9.5%. Within top quartile of South African dividend payers (8.8%). Higher than average of industry peers (0.7%). Reported Earnings • May 27
Full year 2024 earnings released: EPS: R0.19 (vs R0.14 in FY 2023) Full year 2024 results: EPS: R0.19 (up from R0.14 in FY 2023). Revenue: R100.8m (up 33% from FY 2023). Net income: R29.5m (up 35% from FY 2023). Profit margin: 29% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 26
ISA Holdings Limited, Annual General Meeting, Jun 26, 2024 ISA Holdings Limited, Annual General Meeting, Jun 26, 2024. Annonce • May 25
ISA Holdings Limited Declares Final Ordinary Cash Dividend for the Year Ended 29 February 2024, Payable on 22 July 2024 ISA Holdings Limited declared a final ordinary cash dividend to shareholders for the year ended 29 February 2024 of 11.2 cents per share, which will be subject to dividend tax legislation. Shares trade ex-dividend is 17 July 2024, Record date is 19 July 2024 and payment date is 22 July 2024. Annonce • May 18
ISA Holdings Limited Provides Earnings Guidance for the Year Ended 29 February 2024 ISA Holdings Limited announced that further to the initial trading statement released on SENS on 8 February 2024, a review by management of the financial results for the year ended 29 February 2024 has indicated that the earnings per share and headline earnings per share is expected to be between 17.50 cents and 20.30 cents, reflecting an increase of between 25% and 45% compared to the EPS and HEPS of 14 cents for the year ended 28 February 2023. Buy Or Sell Opportunity • May 09
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to R1.61. The fair value is estimated to be R1.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 20%. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to R1.59, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 34x in the Software industry globally. Total returns to shareholders of 191% over the past three years. Buy Or Sell Opportunity • Apr 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to R1.59. The fair value is estimated to be R1.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 20%. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to R1.35, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 35x in the Software industry globally. Total returns to shareholders of 185% over the past three years. Buy Or Sell Opportunity • Mar 14
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 36% to R1.66. The fair value is estimated to be R1.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 20%. New Risk • Mar 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 177% Earnings have declined by 9.0% per year over the past 5 years. High level of non-cash earnings (43% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Revenue is less than US$5m (R90m revenue, or US$4.8m). Market cap is less than US$100m (R232.4m market cap, or US$12.4m). Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R1.44, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 33x in the Software industry globally. Total returns to shareholders of 181% over the past three years. Annonce • Feb 08
ISA Holdings Limited Provides Earnings Guidance for the Full Year Ending 29 February 2024 ISA Holdings Limited provided earnings guidance for the full year ending 29 February 2024. for the year, the company expects the earnings per share is expected to be increase by at least 20% compared to the EPS for the year ended 28 February 2023. Upcoming Dividend • Nov 29
Upcoming dividend of R0.077 per share at 11% yield Eligible shareholders must have bought the stock before 06 December 2023. Payment date: 11 December 2023. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 11%. Within top quartile of South African dividend payers (9.0%). Higher than average of industry peers (4.5%). New Risk • Nov 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: R187.2m (US$9.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 158% Earnings have declined by 9.0% per year over the past 5 years. High level of non-cash earnings (43% accrual ratio). Market cap is less than US$10m (R187.2m market cap, or US$9.93m). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Revenue is less than US$5m (R90m revenue, or US$4.8m). Annonce • Nov 12
ISA Holdings Limited Declares Interim Dividend for the Six Months Ended 31 August 2023, Payable on 11 December 2023 ISA Holdings Limited announced that the board of directors of ISA has declared an interim dividend to shareholders for the six months ended 31 August 2023 of 7.7 cents per share, which will be subject to the dividend tax legislation. Shares trade ex-dividend on 6 December 2023 with Record date is on 8 December 2023. Payment date on 11 December 2023. Annonce • Oct 25
ISA Holdings Limited to Report First Half, 2024 Results on Nov 10, 2023 ISA Holdings Limited announced that they will report first half, 2024 results on Nov 10, 2023 Annonce • Sep 20
ISA Holdings Limited Provides Earnings Guidance for the Six-Month Period Ended 31 August 2023 ISA Holdings Limited provided earnings guidance for the six-month period ended 31 August 2023. A review of the financial results for the six-month period ended 31 August 2023 by management has indicated that the earnings per share ("EPS") and headline earnings per share ("HEPS") are expected to increase by at least 20% compared to the EPS and HEPS of 6.0 cents for the six-month period ended 31 August 2022. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R1.20, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 35x in the Software industry globally. Total returns to shareholders of 160% over the past three years. New Risk • Jul 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: R168.5m (US$9.57m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 182% Earnings have declined by 14% per year over the past 5 years. High level of non-cash earnings (40% accrual ratio). Market cap is less than US$10m (R168.5m market cap, or US$9.57m). Minor Risk Revenue is less than US$5m (R76m revenue, or US$4.3m). Upcoming Dividend • Jul 12
Upcoming dividend of R0.08 per share at 12% yield Eligible shareholders must have bought the stock before 19 July 2023. Payment date: 24 July 2023. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 12%. Within top quartile of South African dividend payers (9.8%). Higher than average of industry peers (4.0%). Annonce • Jul 07
ISA Holdings Limited Announces Resignation of Clarissa Pillay as Non-Executive Director ISA Holdings Limited announced that Mrs. Clarissa Pillay has resigned as a non-executive director of the Board with immediate effect. Reported Earnings • May 30
Full year 2023 earnings released: EPS: R0.14 (vs R0.10 in FY 2022) Full year 2023 results: EPS: R0.14 (up from R0.10 in FY 2022). Revenue: R75.6m (up 1.1% from FY 2022). Net income: R21.9m (up 34% from FY 2022). Profit margin: 29% (up from 22% in FY 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to R1.24, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 22x in the Software industry in Africa. Total returns to shareholders of 329% over the past three years. Upcoming Dividend • Nov 30
Upcoming dividend of R0.06 per share Eligible shareholders must have bought the stock before 07 December 2022. Payment date: 12 December 2022. Trailing yield: 8.1%. Lower than top quartile of South African dividend payers (8.6%). Higher than average of industry peers (3.3%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Chairperson of the Board Onica Seku was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 21% share price gain to R1.17, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 15x in the Software industry in Africa. Total returns to shareholders of 1.9% over the past three years. Upcoming Dividend • Jul 13
Upcoming dividend of R0.16 per share Eligible shareholders must have bought the stock before 20 July 2022. Payment date: 25 July 2022. Trailing yield: 9.4%. Within top quartile of South African dividend payers (8.9%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 17% share price gain to R1.25, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 20x in the Software industry in Africa. Total returns to shareholders of 5.9% over the past three years. Annonce • May 28
ISA Holdings Limited, Annual General Meeting, Jun 30, 2022 ISA Holdings Limited, Annual General Meeting, Jun 30, 2022, at 10:00 South Africa Standard Time. Annonce • May 14
ISA Holdings Limited to Report Fiscal Year 2022 Results on May 27, 2022 ISA Holdings Limited announced that they will report fiscal year 2022 results on May 27, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Chairperson of the Board Onica Seku was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 01
Upcoming dividend of R0.043 per share Eligible shareholders must have bought the stock before 08 December 2021. Payment date: 13 December 2021. Trailing yield: 8.4%. Within top quartile of South African dividend payers (7.6%). Higher than average of industry peers (0.8%). Upcoming Dividend • Jul 14
Upcoming dividend of R0.033 per share Eligible shareholders must have bought the stock before 21 July 2021. Payment date: 26 July 2021. Trailing yield: 9.4%. Within top quartile of South African dividend payers (7.9%). Higher than average of industry peers (0.8%). Annonce • May 26
ISA Holdings Limited Provides Earnings Guidance for the Year Ended 28 February 2021 ISA Holdings Limited provided earnings guidance for the year ended 28 February 2021. The company announced that a review by management of the financial results for the year ended 28 February 2021 has indicated that the earnings per share expected to be between 6.80 cents and 9.80 cents, reflecting a decrease of between 34.7% and 54.7% compared to the HEPS of 15.00 cents for the year ended 29 February 2020. Is New 90 Day High Low • Feb 23
New 90-day low: R0.70 The company is down 12% from its price of R0.80 on 25 November 2020. The South African market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 52% over the same period. Is New 90 Day High Low • Feb 06
New 90-day low: R0.71 The company is down 10.0% from its price of R0.79 on 06 November 2020. The South African market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 44% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: R0.86 The company is up 2.0% from its price of R0.84 on 02 September 2020. The South African market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 34% over the same period. Upcoming Dividend • Nov 25
Upcoming Dividend of R0.05 Per Share Will be paid on the 7th of December to those who are registered shareholders by the 2nd of December. The trailing yield of 12% is in the top quartile of South African dividend payers (11%), and it is higher than industry peers (4.0%). Annonce • Sep 18
ISA Holdings Limited to Report Q2, 2021 Results on Nov 13, 2020 ISA Holdings Limited announced that they will report Q2, 2021 results on Nov 13, 2020 Annonce • Jul 17
ISA Holdings Limited to Report Fiscal Year 2020 Results on May 27, 2020 ISA Holdings Limited announced that they will report fiscal year 2020 results on May 27, 2020