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Sasfin HoldingsJSE:SFN Stock Report

Market Cap







25 Oct, 2021


Company Financials
SFN fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance1/6
Financial Health2/6

SFN Overview

Sasfin Holdings Limited operates as a bank controlling company that provides various financial products and services primarily in South Africa.

Price History & Performance

Summary of all time highs, changes and price drops for Sasfin Holdings
Historical stock prices
Current Share PriceR27.26
52 Week HighR15.20
52 Week LowR30.00
1 Month Change-5.94%
3 Month Change3.69%
1 Year Change67.55%
3 Year Change-9.13%
5 Year Change-58.69%
Change since IPO2,080.80%

Recent News & Updates

Dec 15
Our View On Sasfin Holdings' (JSE:SFN) CEO Pay

Our View On Sasfin Holdings' (JSE:SFN) CEO Pay

This article will reflect on the compensation paid to Michael E. Sassoon who has served as CEO of Sasfin Holdings...

Shareholder Returns

SFNZA BanksZA Market

Return vs Industry: SFN exceeded the ZA Banks industry which returned 30.6% over the past year.

Return vs Market: SFN exceeded the ZA Market which returned 19% over the past year.

Price Volatility

Is SFN's price volatile compared to industry and market?
SFN volatility
SFN Beta0.72
Industry Beta0.91
Market Beta1

Stable Share Price: SFN is more volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: SFN's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of ZA stocks.

About the Company

1951n/aMichael E. Sassoon

Sasfin Holdings Limited operates as a bank controlling company that provides various financial products and services primarily in South Africa. The company offers business banking, transactional banking, and treasury services. It also provides digital banking and business management tools; and direct feed integration, forex, debt capital market, and equipment finance services, as well as investment, and business and personal accounts; and forex risk solutions.

Sasfin Holdings Fundamentals Summary

Earnings & Revenue

Key profitability statistics from the latest earnings report
SFN income statement (TTM)
Cost of RevenueR0
Gross ProfitR1.10b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date


Earnings per share (EPS)2.52
Gross Margin100.00%
Net Profit Margin7.05%
Debt/Equity Ratio261.7%

How did SFN perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


Is Sasfin Holdings undervalued compared to its fair value and its price relative to the market?


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate SFN's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate SFN's fair value to establish if it is undervalued.

Price To Earnings Ratio

PE vs Industry: SFN is good value based on its PE Ratio (10.8x) compared to the ZA Banks industry average (10.9x).

PE vs Market: SFN is good value based on its PE Ratio (10.8x) compared to the ZA market (11.3x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SFN's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: SFN is good value based on its PB Ratio (0.5x) compared to the ZA Banks industry average (0.9x).

Future Growth

How is Sasfin Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Sasfin Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Sasfin Holdings performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SFN has a large one-off loss of ZAR44.3M impacting its June 30 2021 financial results.

Growing Profit Margin: SFN became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: SFN's earnings have declined by 37.4% per year over the past 5 years.

Accelerating Growth: SFN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: SFN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Banks industry (24.9%).

Return on Equity

High ROE: SFN's Return on Equity (4.8%) is considered low.

Financial Health

How is Sasfin Holdings's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: SFN's Assets to Equity ratio (7.6x) is low.

Allowance for Bad Loans: SFN has a low allowance for bad loans (88%).

Low Risk Liabilities: 55% of SFN's liabilities are made up of primarily higher risk sources of funding.

Loan Level: SFN has an appropriate level of Loans to Assets ratio (55%).

Low Risk Deposits: SFN's Loans to Deposits ratio (142%) is high.

Level of Bad Loans: SFN has a high level of bad loans (7.3%).


What is Sasfin Holdings's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SFN's dividend (4.81%) is higher than the bottom 25% of dividend payers in the ZA market (3.14%).

High Dividend: SFN's dividend (4.81%) is low compared to the top 25% of dividend payers in the ZA market (7.52%).

Stability and Growth of Payments

Stable Dividend: SFN's dividend payments have been volatile in the past 10 years.

Growing Dividend: SFN's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.3%), SFN's dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Michael E. Sassoon (39 yo)





Mr. Michael E. E. Sassoon, (BCom), MBA, has been Group Chief Executive Officer of Sasfin Holdings Limited since January 1, 2018 and its Executive Director since October 23, 2015. Mr. Sassoon is Co-Owner of...

CEO Compensation Analysis

Compensation vs Market: Michael E.'s total compensation ($USD322.22K) is about average for companies of similar size in the ZA market ($USD278.61K).

Compensation vs Earnings: Michael E.'s compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: SFN's management team is considered experienced (4.1 years average tenure).

Board Members

Experienced Board: SFN's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Sasfin Holdings Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Sasfin Holdings Limited
  • Ticker: SFN
  • Exchange: JSE
  • Founded: 1951
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: R838.868m
  • Shares outstanding: 30.77m
  • Website:

Number of Employees


  • Sasfin Holdings Limited
  • 29 Scott Street
  • Waverley
  • Johannesburg
  • Gauteng
  • 2090
  • South Africa


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/25 21:36
End of Day Share Price2021/10/25 00:00
Annual Earnings2021/06/30

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.