SLM Stock Overview
Sanlam Limited provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, and internationally.
No risks detected for SLM from our risk checks.
Price History & Performance
|Historical stock prices|
|Current Share Price||R51.59|
|52 Week High||R73.20|
|52 Week Low||R50.00|
|1 Month Change||-3.66%|
|3 Month Change||-1.43%|
|1 Year Change||-19.93%|
|3 Year Change||-31.89%|
|5 Year Change||-24.36%|
|Change since IPO||761.27%|
Recent News & Updates
|SLM||ZA Insurance||ZA Market|
Return vs Industry: SLM exceeded the ZA Insurance industry which returned -23.5% over the past year.
Return vs Market: SLM underperformed the ZA Market which returned -5.6% over the past year.
|SLM Average Weekly Movement||3.9%|
|Insurance Industry Average Movement||4.0%|
|Market Average Movement||5.5%|
|10% most volatile stocks in ZA Market||10.2%|
|10% least volatile stocks in ZA Market||3.1%|
Stable Share Price: SLM is less volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: SLM's weekly volatility (4%) has been stable over the past year.
About the Company
Sanlam Limited provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, and internationally. The company operates through Sanlam Life and Savings, Sanlam Emerging Markets, Sanlam Investment Group, and Santam segments. It offers life, disability, severe illness, income protection, funeral, credit life, health, short-term, medical, and group risk benefits, business debt, commercial insurance products; reinsurance products; financial planning and retirement, personal motor and property, solutions; investment products; wealth, and professionals and graduates insurance services; and personal and home loans, and credit cards.
Sanlam Fundamentals Summary
|SLM fundamental statistics|
Is SLM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|SLM income statement (TTM)|
|Cost of Revenue||R82.32b|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
Mar 09, 2023
|Earnings per share (EPS)||5.57|
|Net Profit Margin||8.40%|
How did SLM perform over the long term?See historical performance and comparison
6.5%Current Dividend Yield
Is SLM undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 2/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for SLM?
Other financial metrics that can be useful for relative valuation.
|What is SLM's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does SLM's PE Ratio compare to its peers?
|SLM PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
OMU Old Mutual
RMI Rand Merchant Investment Holdings
MTM Momentum Metropolitan Holdings
Price-To-Earnings vs Peers: SLM is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (15.4x).
Price to Earnings Ratio vs Industry
How does SLM's PE Ratio compare vs other companies in the African Insurance Industry?
Price-To-Earnings vs Industry: SLM is expensive based on its Price-To-Earnings Ratio (9.3x) compared to the African Insurance industry average (7.7x)
Price to Earnings Ratio vs Fair Ratio
What is SLM'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.
|Current PE Ratio||9.3x|
|Fair PE Ratio||22.1x|
Price-To-Earnings vs Fair Ratio: SLM is good value based on its Price-To-Earnings Ratio (9.3x) compared to the estimated Fair Price-To-Earnings Ratio (22.1x).
Share Price vs Fair Value
What is the Fair Price of SLM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: SLM (ZAR51.59) is trading above our estimate of fair value (ZAR14.25)
Significantly Below Fair Value: SLM is trading above our estimate of fair value.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.
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How is Sanlam forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Future Growth Score2/6
Future Growth Score 2/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SLM's forecast earnings growth (10.7% per year) is above the savings rate (9%).
Earnings vs Market: SLM's earnings (10.7% per year) are forecast to grow faster than the ZA market (-1.7% per year).
High Growth Earnings: SLM's earnings are forecast to grow, but not significantly.
Revenue vs Market: SLM's revenue is expected to decline over the next 3 years (-6% per year).
High Growth Revenue: SLM's revenue is forecast to decline over the next 3 years (-6% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SLM's Return on Equity is forecast to be low in 3 years time (16.4%).
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How has Sanlam performed over the past 5 years?
Past Performance Score3/6
Past Performance Score 3/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SLM has high quality earnings.
Growing Profit Margin: SLM's current net profit margins (8.4%) are higher than last year (4.5%).
Past Earnings Growth Analysis
Earnings Trend: SLM's earnings have declined by 10.2% per year over the past 5 years.
Accelerating Growth: SLM's earnings growth over the past year (50.1%) exceeds its 5-year average (-10.2% per year).
Earnings vs Industry: SLM earnings growth over the past year (50.1%) underperformed the Insurance industry 71.7%.
Return on Equity
High ROE: SLM's Return on Equity (16.9%) is considered low.
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How is Sanlam's financial position?
Financial Health Score4/6
Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: SLM's short term assets (ZAR238.8B) exceed its short term liabilities (ZAR143.4B).
Long Term Liabilities: SLM's short term assets (ZAR238.8B) do not cover its long term liabilities (ZAR752.5B).
Debt to Equity History and Analysis
Debt Level: SLM has more cash than its total debt.
Reducing Debt: SLM's debt to equity ratio has increased from 12.5% to 18.4% over the past 5 years.
Debt Coverage: SLM's debt is well covered by operating cash flow (113.5%).
Interest Coverage: SLM's interest payments on its debt are well covered by EBIT (23.2x coverage).
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What is Sanlam current dividend yield, its reliability and sustainability?
Dividend Score 5/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
|Sanlam Dividend Yield vs Market|
|Market Bottom 25% (ZA)||3.5%|
|Market Top 25% (ZA)||9.0%|
|Industry Average (Insurance)||5.9%|
|Analyst forecast in 3 Years (Sanlam)||7.8%|
Notable Dividend: SLM's dividend (6.47%) is higher than the bottom 25% of dividend payers in the ZA market (3.49%).
High Dividend: SLM's dividend (6.47%) is low compared to the top 25% of dividend payers in the ZA market (8.97%).
Stability and Growth of Payments
Stable Dividend: SLM's dividends per share have been stable in the past 10 years.
Growing Dividend: SLM's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: With its reasonable payout ratio (60.1%), SLM's dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its reasonably low cash payout ratio (43.9%), SLM's dividend payments are well covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Paul Hanratty (61 yo)
Mr. Paul Brendan Hanratty, B.Bus. Sc. (Hons), F.I.A, serves as a Non-Executive Director at Santam Ltd. Since August 11, 2020.Mr. Hanratty has been Group Chief Executive Officer and Executive Director of S...
CEO Compensation Analysis
|Paul Hanratty's Compensation vs Sanlam Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Jun 30 2022||n/a||n/a|
|Mar 31 2022||n/a||n/a|
|Dec 31 2021||R6m||R6m|
|Sep 30 2021||n/a||n/a|
|Jun 30 2021||n/a||n/a|
|Mar 31 2021||n/a||n/a|
|Dec 31 2020||R7m||R3m|
|Sep 30 2020||n/a||n/a|
|Jun 30 2020||n/a||n/a|
|Mar 31 2020||n/a||n/a|
|Dec 31 2019||R3m||n/a|
Compensation vs Market: Paul's total compensation ($USD340.24K) is below average for companies of similar size in the ZA market ($USD2.30M).
Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.
Experienced Management: SLM's management team is considered experienced (2 years average tenure).
Experienced Board: SLM's board of directors are considered experienced (5.7 years average tenure).
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
|28 Jun 22||BuyR6,459,631||Heinie Werth||Individual||117,812||R54.83|
|28 Jun 22||BuyR3,024,971||Jeanett Modise||Individual||55,170||R54.83|
|28 Jun 22||BuyR2,053,548||Abigail Mukhuba||Individual||37,453||R54.83|
|17 Jun 22||BuyR205,994,995||Sanlam Limited Share Incentive Trust||Company||3,737,500||R56.19|
|15 Jun 22||SellR1,439,085||Heinie Werth||Individual||25,643||R56.12|
|15 Jun 22||BuyR3,169,770||Heinie Werth||Individual||56,482||R56.12|
|13 Jun 22||BuyR237,796,099||Sanlam Limited Share Incentive Trust||Company||4,013,190||R63.69|
|04 May 22||BuyR29,205,003||Sanlam Limited Share Incentive Trust||Company||450,000||R64.90|
|Owner Type||Number of Shares||Ownership Percentage|
|Employee Share Scheme||35,152,371||1.7%|
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
Sanlam Limited's employee growth, exchange listings and data sources
- Name: Sanlam Limited
- Ticker: SLM
- Exchange: JSE
- Founded: 1918
- Industry: Life and Health Insurance
- Sector: Insurance
- Implied Market Cap: R105.734b
- Shares outstanding: 2.05b
- Website: https://www.sanlam.co.za
Number of Employees
- Sanlam Limited
- 2 Strand Road
- Western Cape
- South Africa
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SLMA.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||Nov 1998|
|SLM||JSE (The Johannesburg Securities Exchange)||Yes||Ordinary Shares||ZA||ZAR||Nov 1998|
|SLA||NMSE (Namibian Stock Exchange)||Yes||Ordinary Shares||NA||ZAR||Nov 1998|
|LA6A||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||Nov 1998|
|SLLD.Y||OTCPK (Pink Sheets LLC)||ADR EACH REPR 2 SHS||US||USD||Mar 2009|
|LA6S||DB (Deutsche Boerse AG)||ADR EACH REPR 2 SHS||DE||EUR||Mar 2009|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/10/01 00:00|
|End of Day Share Price||2022/09/30 00:00|
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.