SPAR Group (SPP) Stock Overview
Engages in the wholesale and distribution of goods and services to grocery stores and other group retail outlets in South Africa and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 4/6 |
| Past Performance | 0/6 |
| Financial Health | 2/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
SPP Community Fair Values
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Analyst Price Targets
The SPAR Group Ltd Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | R40.00 |
| 52 Week High | R111.82 |
| 52 Week Low | R37.26 |
| Beta | -0.0014 |
| 1 Month Change | -11.97% |
| 3 Month Change | -23.50% |
| 1 Year Change | -62.36% |
| 3 Year Change | -60.40% |
| 5 Year Change | -80.57% |
| Change since IPO | 100.00% |
Recent News & Updates
Narrative Update • Sep 03
SPP: Higher Margin Outlook And Lower P/E Assumptions Will Support Long-Term Upside
Analysts have revised their price target for SPAR Group from ZAR118.00 to ZAR72.58 as they adjust fair value assumptions, discount rates, revenue growth, profit margins and future P/E expectations in their updated models. What’s in the News for SPAR Group No recent SPAR Group news items were identified from the provided sources as of 3 Sep 2026.
Narrative Update • Aug 14
SPP: Earnings Guidance And Revised Assumptions Will Shape Measured Upside Potential
Analysts have revised their price target for SPAR Group from ZAR52 to ZAR45 as updated assumptions for discount rate, revenue growth, profit margin and future P/E filter through their models. What’s in the News for SPAR Group SPAR Group issued earnings guidance for the 26 weeks ending 27 September 2026, providing the market with an updated earnings reference point.
Narrative Update • Jul 31
SPP: Earnings Guidance And Higher Growth Assumptions Will Support Share Price Rebound
Analysts have trimmed their price target for SPAR Group to ZAR66.29 from ZAR75.04, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that point to a more balanced risk and return profile. What’s in the News for SPAR Group SPAR Group issued earnings guidance for the 26 weeks ending 27 September 2026, giving investors a fresh reference point ahead of that reporting period.Recent updates
Narrative Update • Sep 03
SPP: Higher Margin Outlook And Lower P/E Assumptions Will Support Long-Term Upside
Analysts have revised their price target for SPAR Group from ZAR118.00 to ZAR72.58 as they adjust fair value assumptions, discount rates, revenue growth, profit margins and future P/E expectations in their updated models. What’s in the News for SPAR Group No recent SPAR Group news items were identified from the provided sources as of 3 Sep 2026.Narrative Update • Aug 14
SPP: Earnings Guidance And Revised Assumptions Will Shape Measured Upside Potential
Analysts have revised their price target for SPAR Group from ZAR52 to ZAR45 as updated assumptions for discount rate, revenue growth, profit margin and future P/E filter through their models. What’s in the News for SPAR Group SPAR Group issued earnings guidance for the 26 weeks ending 27 September 2026, providing the market with an updated earnings reference point.Narrative Update • Jul 31
SPP: Earnings Guidance And Higher Growth Assumptions Will Support Share Price Rebound
Analysts have trimmed their price target for SPAR Group to ZAR66.29 from ZAR75.04, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that point to a more balanced risk and return profile. What’s in the News for SPAR Group SPAR Group issued earnings guidance for the 26 weeks ending 27 September 2026, giving investors a fresh reference point ahead of that reporting period.Narrative Update • Jul 09
SPP: Higher Required Returns And EPS Outlook Will Support Share Price Rebound
Analysts have revised their price target on SPAR Group from ZAR101.75 to ZAR75.04, reflecting updated views on fair value, discount rate assumptions, revenue growth, profit margin expectations, and a lower future P/E multiple. What’s in the News for SPAR Group SPAR Group issued earnings guidance for the 26 weeks ended 27 September 2026, indicating expected EPS in the range of ZAR0.70 to ZAR0.80 per share.Narrative Update • Jun 25
SPP: Higher Margin Outlook And EPS Guidance Will Support Long-Term Upside
The latest Narrative Update on SPAR Group reflects a lower analyst price target from ZAR146.00 to ZAR118.00. Analysts cited adjustments to fair value assumptions, a slightly higher discount rate, modestly different revenue growth expectations, a revised profit margin outlook, and a lower future P/E multiple.Narrative Update • Jun 08
SPP: Earnings Guidance And Margin Assumptions Will Shape Measured Upside Potential
Analysts have reduced their ZAR fair value estimate for SPAR Group from ZAR81.00 to ZAR52.00, citing updates to assumptions on the discount rate, revenue growth, profit margin and future P/E, which they believe better reflect current expectations. What's in the News SPAR Group issued earnings guidance for the 26 weeks ending 27 September 2026, indicating expected EPS in a range of ZAR0.70 to ZAR0.80 per share, according to company guidance.Narrative Update • May 25
SPP: Higher Required Returns Will Eventually Support Share Price Rebound
Analysts have adjusted their price target for SPAR Group slightly lower to ZAR101.75 from ZAR103.34. This reflects updated assumptions for the discount rate, revenue growth, profit margin and future P/E, resulting in a modestly different view of fair value.Narrative Update • May 06
SPP: Leadership Transition And Governance Focus Will Support Future Share Price Rebound
Analysts have trimmed their price target for SPAR Group from ZAR107.09 to ZAR103.34, citing small adjustments to fair value inputs such as the discount rate, revenue growth expectations, profit margin assumptions and the future P/E multiple. What's in the News Group CEO Angelo Swartz has resigned, with his role ending on 28 February 2026 after 19 years at SPAR Group.Narrative Update • Apr 20
SPP: Leadership Changes And Higher Future P/E Will Support Long-Term Upside
Analysts now hold SPAR Group's fair value steady at ZAR146.00 per share, with updated assumptions reflecting slightly higher expected revenue growth, a lower profit margin and a higher future P/E multiple that together support this unchanged price target. What's in the News Group CEO Angelo Swartz has resigned, effective 28 February 2026, after 19 years with SPAR Group, during which he led operational stabilization, portfolio simplification and balance sheet strengthening (Key Developments).Narrative Update • Apr 06
SPP: Leadership Transition And Capital Discipline Will Support Future Share Price Rebound
Analysts have adjusted their price target on SPAR Group to ZAR107.09 from ZAR136.69, reflecting updated assumptions for a slightly higher discount rate, firmer revenue growth, a lower profit margin, and a modestly higher future P/E multiple. What's in the News Group CEO Angelo Swartz has resigned, effective 28 February 2026, after 19 years with SPAR Group, with a transition period to support ongoing projects (Key Developments).Narrative Update • Mar 23
SPP: Leadership Changes And Margin Recovery Will Drive Future Upside Potential
Analysts have kept their ZAR 81.00 price target for SPAR Group unchanged, indicating that only small adjustments in the discount rate, revenue growth, profit margin and future P/E assumptions have been made, rather than a major shift in their overall view. What's in the News Group CEO Angelo Swartz has resigned effective 28 February 2026 after 19 years at SPAR, with the board highlighting his role in operational stabilization, portfolio simplification and balance sheet strengthening during his tenure (Key Developments).Narrative Update • Mar 09
SPP: Leadership Transition And Margin Recovery Efforts Will Shape Future Risk Profile
Analysts have reduced their price target on SPAR Group from ZAR104 to ZAR81. This reflects updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E multiples.Narrative Update • Feb 23
SPP: Leadership Transition And Refined Assumptions Will Support Long-Term Upside
Analysts have nudged their price target for SPAR Group slightly higher to ZAR146.0 from ZAR145.5, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Group CEO Angelo Swartz has resigned, effective 28 February 2026, after 19 years with SPAR Group.Narrative Update • Feb 08
SPP: Maintained Fair Value And Lower Discount Rate Will Support Long-Term Upside
Analysts have maintained their fair value estimate for SPAR Group at $145.50. Small adjustments to assumptions on discount rate, revenue growth, profit margin and future P/E have fed into this unchanged price target, indicating that their overall view on the stock remains broadly consistent with prior analysis.Narrative Update • Jan 25
SPP: Higher Discount Rate Will Still Support Attractive Long Term Returns
Analysts have adjusted their price target on SPAR Group to $145.50 from $171.00, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What's in the News SPAR Group issued earnings guidance for the 52 weeks ending 26 September 2025, giving investors a fresh reference point for its expected performance over that period (company guidance).Narrative Update • Jan 11
SPP: Earnings Guidance Range Will Shape Risk Profile And Margin Expectations
Analysts have kept their fair value estimate for SPAR Group unchanged at $104.00. Only minor adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions were made to support this same price target.Analysis Article • Dec 20
SPAR Group's (JSE:SPP) Soft Earnings Are Actually Better Than They Appear
Investors were disappointed with the weak earnings posted by The SPAR Group Ltd ( JSE:SPP ). While the headline numbers...Narrative Update • Dec 19
SPP: Earnings Reset Will Define Risk Profile Amid Modest Margin Outlook
Analysts have trimmed their price target on SPAR Group to $104.00 from $111.00, reflecting slightly higher perceived risk despite modestly improved growth and margin expectations. What's in the News SPAR Group issued earnings guidance for the 52 weeks ending September 26, 2025, projecting EPS of 375.4 to 458.9 cents per share, significantly below the prior year's 834.3 cents per share (company guidance).Analysis Article • Dec 11
Is SPAR Group (JSE:SPP) A Risky Investment?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Narrative Update • Dec 05
SPP: Steady Margins And Earnings Reset Will Support Future Share Price Rebound
Analysts have nudged their price target for SPAR Group slightly higher to approximately $136.69 per share, citing modest adjustments to discount rate and future earnings multiple assumptions while leaving fair value essentially unchanged. What's in the News Issued earnings guidance for the 52 weeks ending 26 September 2025, projecting EPS of 375.4 to 458.9 cents per share, less than half of the 834.3 cents reported a year earlier (company guidance) Guided diluted EPS to a range of 375.3 to 458.7 cents per share for fiscal 2025, down from 834.0 cents per share in the prior year, signaling a sharp earnings reset (company guidance) The widened EPS ranges for 2025 highlight management's caution around operating conditions and execution, even as the business maintains visibility on near term profitability (company guidance) Valuation Changes Fair Value: Unchanged at approximately ZAR 136.69 per share, indicating no material shift in the intrinsic value estimate.Narrative Update • Nov 21
SPP: Improved Margin Outlook Will Drive Renewed Share Price Optimism
Analysts have slightly lowered their fair value estimate for SPAR Group from $137.08 to $136.69, citing moderated revenue growth but improved profit margin expectations. Valuation Changes The Fair Value Estimate was reduced slightly from ZAR137.08 to ZAR136.69.Narrative Update • Nov 01
SPP: Operational Efficiencies And company2U Expansion Will Strengthen Future Performance
Narrative Update on SPAR Group Analysts have maintained their price target for SPAR Group at $137.08 per share. They cite consistent revenue growth estimates and stable profit margin expectations as supporting factors behind the unchanged outlook.Narrative Update • Oct 18
Operational Efficiencies And company2U Expansion Will Strengthen Future Performance
Analysts have maintained their price target for SPAR Group at $137.08. They cited minimal recent shifts in revenue growth, profit margin, and discount rate assumptions.Narrative Update • Oct 03
Operational Efficiencies And company2U Expansion Will Strengthen Future Performance
Analysts have lowered their price target for SPAR Group from $144.42 to $137.08. They cite modestly reduced expectations for revenue growth, even though there is a slight improvement in projected profit margins.Analysis Article • Sep 04
SPAR Group (JSE:SPP) Takes On Some Risk With Its Use Of Debt
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Jun 12
Solid Earnings Reflect SPAR Group's (JSE:SPP) Strength As A Business
Even though The SPAR Group Ltd's ( JSE:SPP ) recent earnings release was robust, the market didn't seem to notice. Our...Analysis Article • Jun 11
What Does The Future Hold For The SPAR Group Ltd (JSE:SPP)? These Analysts Have Been Cutting Their Estimates
Market forces rained on the parade of The SPAR Group Ltd ( JSE:SPP ) shareholders today, when the analysts downgraded...Analysis Article • May 03
The SPAR Group Ltd (JSE:SPP) Not Lagging Market On Growth Or Pricing
With a price-to-earnings (or "P/E") ratio of 13.7x The SPAR Group Ltd ( JSE:SPP ) may be sending very bearish signals...Analysis Article • Apr 04
Here's What's Concerning About SPAR Group's (JSE:SPP) Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world...
New Narrative • Mar 14
Operational Efficiencies And company2U Expansion Will Strengthen Future Performance
Enhancements in operational efficiencies and strategic exits are geared towards better margins and increased investor confidence through improved financial metrics.Analysis Article • Feb 08
Is SPAR Group (JSE:SPP) Using Too Much Debt?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Shareholder Returns
| SPP | ZA Consumer Retailing | ZA Market | |
|---|---|---|---|
| 7D | -0.2% | -1.2% | -1.0% |
| 1Y | -62.4% | -10.0% | 9.2% |
Return vs Industry: SPP underperformed the ZA Consumer Retailing industry which returned -10% over the past year.
Return vs Market: SPP underperformed the ZA Market which returned 9.2% over the past year.
Price Volatility
| SPP volatility | |
|---|---|
| SPP Average Weekly Movement | 6.1% |
| Consumer Retailing Industry Average Movement | 3.5% |
| Market Average Movement | 4.5% |
| 10% most volatile stocks in ZA Market | 10.9% |
| 10% least volatile stocks in ZA Market | 2.6% |
Stable Share Price: SPP has not had significant price volatility in the past 3 months compared to the ZA market.
Volatility Over Time: SPP's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1932 | n/a | Moegamat Isaacs | www.spar.co.za |
The SPAR Group Ltd engages in the wholesale and distribution of goods and services to grocery stores and other group retail outlets in South Africa and internationally. The company offers fresh produce, in-store bakery, butchery, deli, ready-to-eat meals, home-meal replacements, groceries, general merchandise, baked foods, liquor products, building and hardware products, coffee, dispensary and health-related products, confectionery, health and beauty, frozen foods, catering products, wines, and non-food items. The SPAR Group Ltd operates stores under the SUPERSPAR, SPAR, KWIKSPAR, SPAR EXPRESS, PHARMACY at SPAR, TOPS at SPAR, and SAVEMOR brands.
The SPAR Group Ltd Fundamentals Summary
| SPP fundamental statistics | |
|---|---|
| Market cap | R7.70b |
| Earnings (TTM) | R343.40m |
| Revenue (TTM) | R133.78b |
22.4x
P/E Ratio0.1x
P/S RatioIs SPP overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| SPP income statement (TTM) | |
|---|---|
| Revenue | R133.78b |
| Cost of Revenue | R119.52b |
| Gross Profit | R14.26b |
| Other Expenses | R13.92b |
| Earnings | R343.40m |
Last Reported Earnings
Mar 27, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.78 |
| Gross Margin | 10.66% |
| Net Profit Margin | 0.26% |
| Debt/Equity Ratio | 155.7% |
How did SPP perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/13 03:55 |
| End of Day Share Price | 2026/09/11 00:00 |
| Earnings | 2026/03/27 |
| Annual Earnings | 2025/09/26 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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 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
The SPAR Group Ltd is covered by 17 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Darren Cohn | Absa Bank Limited |
| Victor Dima | Arqaam Capital Research Offshore S.A.L. |
| Michael de Nobrega | Avior Capital Markets |