Resilient REIT Limited

JSE:RES Stock Report

Market Cap: R19.2b

Resilient REIT Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 RES when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RES (ZAR57.35) is trading above our estimate of fair value (ZAR27.89)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for RES. This is calculated by dividing RES's market cap by their current earnings.
What is RES's PE Ratio?
PE Ratio4.8x
EarningsR4.00b
Market CapR19.21b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for RES vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.6x
HYP Hyprop Investments
6.4xn/aR16.0b
VKE Vukile Property Fund
12.5xn/aR19.6b
EXP Exemplar REITail
5.3xn/aR3.8b
DIB Dipula Income Fund
6.1xn/aR4.8b
RES Resilient REIT
4.8xn/aR19.2b

Price-To-Earnings vs Peers: RES is good value based on its Price-To-Earnings Ratio (4.8x) compared to the peer average (7.6x).

Price to Earnings Ratio vs Industry

How does RES's PE Ratio compare vs other companies in the Global Retail REITs Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
RES 4.8xIndustry Avg. 20.7xNo. of Companies13PE01224364860+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: RES is good value based on its Price-To-Earnings Ratio (4.8x) compared to the Global Retail REITs industry average (20.7x).

Price to Earnings Ratio vs Fair Ratio

What is RES'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.

RES PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate RES's Price-To-Earnings Fair Ratio for valuation analysis.

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 RES forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR57.35
R59.60
+3.9%
5.6%R63.50R55.30n/a3
Nov ’25R55.90
R58.27
+4.2%
6.4%R63.50R55.30n/a3
Oct ’25R58.16
R52.41
-9.9%
8.8%R56.00R45.92n/a3
Sep ’25R57.17
R52.41
-8.3%
8.8%R56.00R45.92n/a3
Aug ’25R51.19
R50.81
-0.8%
6.7%R55.30R45.92n/a4
Jul ’25R48.31
R49.06
+1.5%
8.3%R55.30R45.00n/a4
Jun ’25R42.65
R45.81
+7.4%
1.7%R47.00R45.00n/a4
May ’25R44.24
R45.81
+3.5%
1.7%R47.00R45.00n/a4
Apr ’25R46.39
R45.93
-1.0%
2.1%R47.50R45.00n/a4
Mar ’25R47.34
R46.43
-1.9%
1.9%R47.50R45.30n/a4
Feb ’25R46.42
R45.93
-1.1%
2.8%R48.00R44.50n/a4
Jan ’25R44.29
R45.93
+3.7%
2.8%R48.00R44.50n/a4
Dec ’24R41.00
R45.43
+10.8%
1.3%R46.00R44.50n/a4
Nov ’24R38.00
R46.43
+22.2%
4.6%R50.00R44.50R55.904
Oct ’24R39.11
R49.88
+27.5%
11.4%R59.10R44.50R58.164
Sep ’24R39.95
R52.03
+30.2%
9.9%R59.10R47.00R57.173
Aug ’24R44.43
R53.86
+21.2%
10.1%R59.34R47.00R51.194
Jul ’24R42.31
R53.86
+27.3%
10.1%R59.34R47.00R48.314
Jun ’24R40.51
R53.86
+33.0%
10.1%R59.34R47.00R42.654
May ’24R45.42
R56.11
+23.5%
6.7%R59.34R50.00R44.244
Apr ’24R46.60
R57.39
+23.1%
3.2%R59.34R55.10R46.394
Mar ’24R50.93
R57.39
+12.7%
3.2%R59.34R55.10R47.344
Feb ’24R52.35
R57.11
+9.1%
3.9%R59.34R54.00R46.424
Jan ’24R53.75
R57.11
+6.3%
3.9%R59.34R54.00R44.294
Dec ’23R51.55
R56.61
+9.8%
5.2%R59.34R52.00R41.004
Nov ’23R50.52
R56.61
+12.1%
5.2%R59.34R52.00R38.004

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

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