Pick n Pay Stores Limited

JSE:PIK Stock Report

Market Cap: R20.6b

Pick n Pay Stores Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Discounted Cash Flow
Simply Wall St
R22.49
Fair Value
24.4% overvalued intrinsic discount
7
Number of Analysts

Below Fair Value: PIK (ZAR27.97) is trading above our estimate of fair value (ZAR22.49)

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

Key Valuation Metric

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

Key metric: As PIK is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PIK. This is calculated by dividing PIK's market cap by their current revenue.
What is PIK's PS Ratio?
PS Ratio0.2x
SalesR117.19b
Market CapR20.58b

Price to Sales Ratio vs Peers

How does PIK's PS Ratio compare to its peers?

The above table shows the PS ratio for PIK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.4x
BOX Boxer Retail
0.8x13.7%R31.7b
SHP Shoprite Holdings
0.6x8.3%R154.3b
KAL KAL Group
0.1xn/aR2.8b
SPP SPAR Group
0.1x3.6%R22.1b
PIK Pick n Pay Stores
0.2x4.8%R20.6b

Price-To-Sales vs Peers: PIK is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (0.4x).

Price to Sales Ratio vs Industry

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

56 CompaniesPrice / SalesEstimated GrowthMarket Cap
PIK 0.2xIndustry Avg. 0.4xNo. of Companies91PS00.40.81.21.62+
56 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PIK is good value based on its Price-To-Sales Ratio (0.2x) compared to the Global Consumer Retailing industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

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

PIK PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio0.3x

Price-To-Sales vs Fair Ratio: PIK is good value based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (0.3x).

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 PIK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR27.97
R32.11
+14.8%
12.4%R37.00R24.00n/a7
Apr ’26R27.96
R31.63
+13.1%
13.0%R37.00R24.00n/a6
Mar ’26R28.15
R30.97
+10.0%
11.2%R35.00R24.00n/a6
Feb ’26R28.70
R30.97
+7.9%
11.2%R35.00R24.00n/a6
Jan ’26R30.70
R27.82
-9.4%
8.0%R30.60R24.00n/a5
Dec ’25R30.20
R27.82
-7.9%
8.0%R30.60R24.00n/a5
Nov ’25R25.80
R26.00
+0.8%
5.6%R27.50R24.00n/a5
Oct ’25R26.30
R24.84
-5.6%
4.6%R27.00R23.80n/a5
Sep ’25R24.30
R24.84
+2.2%
4.6%R27.00R23.80n/a5
Aug ’25R22.94
R26.02
+13.4%
10.1%R30.00R23.30n/a6
Jul ’25R25.99
R27.05
+4.1%
10.2%R30.00R23.30n/a6
Jun ’25R24.84
R24.31
-2.1%
18.0%R30.00R20.00n/a7
May ’25R20.16
R24.46
+21.3%
20.1%R33.00R20.00R27.977
Apr ’25R18.68
R24.46
+30.9%
20.1%R33.00R20.00R27.967
Mar ’25R19.90
R25.17
+26.5%
18.1%R33.00R20.00R28.157
Feb ’25R23.22
R34.29
+47.7%
52.7%R75.00R20.00R28.707
Jan ’25R23.27
R35.57
+52.9%
51.0%R75.00R20.00R30.707
Dec ’24R22.71
R35.57
+56.6%
51.0%R75.00R20.00R30.207
Nov ’24R24.28
R39.14
+61.2%
45.0%R75.00R20.00R25.807
Oct ’24R37.00
R48.28
+30.5%
35.2%R85.00R37.00R26.306
Sep ’24R35.33
R48.28
+36.7%
35.2%R85.00R37.00R24.306
Aug ’24R37.40
R48.28
+29.1%
35.2%R85.00R37.00R22.946
Jul ’24R38.88
R48.67
+25.2%
33.9%R85.00R38.00R25.996
Jun ’24R31.25
R48.17
+54.1%
34.4%R85.00R38.00R24.846
May ’24R43.42
R63.40
+46.0%
26.0%R97.00R49.00R20.166
AnalystConsensusTarget
Consensus Narrative from 7 Analysts
R32.11
Fair Value
12.9% undervalued intrinsic discount
7
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/02 01:26
End of Day Share Price 2025/04/30 00:00
Earnings2024/08/25
Annual Earnings2024/02/25

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.

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 Github.

Analyst Sources

Pick n Pay Stores Limited is covered by 22 analysts. 7 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
Katherine DaveyBarclays