Clicks Group Limited

JSE:CLS Stock Report

Market Cap: R91.9b

Clicks Group Valuation

Is CLS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CLS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CLS (ZAR385.83) is trading above our estimate of fair value (ZAR202.71)

Significantly Below Fair Value: CLS is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CLS?

Key metric: As CLS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CLS. This is calculated by dividing CLS's market cap by their current earnings.
What is CLS's PE Ratio?
PE Ratio32.4x
EarningsR2.84b
Market CapR91.85b

Price to Earnings Ratio vs Peers

How does CLS's PE Ratio compare to its peers?

The above table shows the PE ratio for CLS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.7x
DCP Dis-Chem Pharmacies
29.6x19.3%R31.5b
SHP Shoprite Holdings
25x12.8%R164.4b
BID Bid
18.4x7.8%R147.7b
SPP SPAR Group
17.5x17.9%R28.9b
CLS Clicks Group
32.4x12.1%R91.9b

Price-To-Earnings vs Peers: CLS is expensive based on its Price-To-Earnings Ratio (32.4x) compared to the peer average (22.7x).

Price to Earnings Ratio vs Industry

How does CLS's PE Ratio compare vs other companies in the Global Consumer Retailing Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CLS 32.4xIndustry Avg. 16.4xNo. of Companies55PE01224364860+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CLS is expensive based on its Price-To-Earnings Ratio (32.4x) compared to the Global Consumer Retailing industry average (16.4x).

Price to Earnings Ratio vs Fair Ratio

What is CLS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CLS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio32.4x
Fair PE Ratio26x

Price-To-Earnings vs Fair Ratio: CLS is expensive based on its Price-To-Earnings Ratio (32.4x) compared to the estimated Fair Price-To-Earnings Ratio (26x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CLS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR385.83
R378.00
-2.0%
11.1%R430.00R320.00n/a5
Dec ’25R392.90
R378.00
-3.8%
11.1%R430.00R320.00n/a5
Nov ’25R377.85
R369.60
-2.2%
14.1%R430.00R296.00n/a5
Oct ’25R392.53
R346.60
-11.7%
11.5%R395.00R296.00n/a5
Sep ’25R373.69
R346.60
-7.2%
11.5%R395.00R296.00n/a5
Aug ’25R354.74
R326.50
-8.0%
9.4%R387.00R295.00n/a6
Jul ’25R342.86
R318.67
-7.1%
6.3%R350.00R295.00n/a6
Jun ’25R295.76
R318.67
+7.7%
6.3%R350.00R295.00n/a6
May ’25R291.53
R317.67
+9.0%
6.4%R353.00R295.00n/a6
Apr ’25R296.11
R311.60
+5.2%
8.6%R353.00R271.00n/a5
Mar ’25R298.44
R311.60
+4.4%
8.6%R353.00R271.00n/a5
Feb ’25R299.65
R289.60
-3.4%
10.0%R322.00R243.00n/a5
Jan ’25R325.71
R281.80
-13.5%
9.6%R315.00R243.00n/a5
Dec ’24R295.30
R281.80
-4.6%
9.6%R315.00R243.00R392.905
Nov ’24R278.76
R279.40
+0.2%
10.2%R315.00R243.00R377.855
Oct ’24R258.65
R281.60
+8.9%
9.7%R321.00R254.00R392.535
Sep ’24R269.64
R281.60
+4.4%
9.7%R321.00R254.00R373.695
Aug ’24R285.64
R281.60
-1.4%
9.7%R321.00R254.00R354.745
Jul ’24R261.29
R282.00
+7.9%
9.9%R321.00R254.00R342.865
Jun ’24R239.50
R295.75
+23.5%
7.9%R321.00R259.00R295.764
May ’24R267.34
R293.25
+9.7%
9.4%R321.00R249.00R291.534
Apr ’24R257.13
R294.75
+14.6%
12.4%R330.00R236.00R296.114
Mar ’24R270.63
R300.00
+10.9%
11.5%R330.00R236.00R298.445
Feb ’24R270.02
R299.40
+10.9%
11.6%R330.00R236.00R299.655
Jan ’24R270.08
R302.80
+12.1%
12.5%R343.00R236.00R325.715
Dec ’23R282.46
R302.80
+7.2%
12.5%R343.00R236.00R295.305

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 10:01
End of Day Share Price 2024/12/20 00:00
Earnings2024/08/31
Annual Earnings2024/08/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Clicks Group Limited is covered by 19 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Victor DimaArqaam Capital Research Offshore S.A.L.
Michael de NobregaAvior Capital Markets
Rod SalmonBarclays