Bytes Technology Group plc

JSE:BYI Stock Report

Market Cap: R24.0b

Bytes Technology Group Valuation

Is BYI 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-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 BYI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BYI (ZAR100.58) is trading above our estimate of fair value (ZAR84.09)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BYI. This is calculated by dividing BYI's market cap by their current earnings.
What is BYI's PE Ratio?
PE Ratio20.2x
EarningsUK£51.91m
Market CapUK£1.05b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BYI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average87.3x
AEL Altron
12.1xn/aR8.0b
2531 GL-Carlink Technology Holding
231.1xn/aHK$12.4b
4686 JustSystems
19.7xn/aJP¥230.2b
IRE Iress
86.2x29.1%AU$1.7b
BYI Bytes Technology Group
20.2x6.7%R1.0b

Price-To-Earnings vs Peers: BYI is good value based on its Price-To-Earnings Ratio (20.2x) compared to the peer average (87.3x).

Price to Earnings Ratio vs Industry

How does BYI's PE Ratio compare vs other companies in the Global Software Industry?

34 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BYI 20.2xIndustry Avg. 32.8xNo. of Companies77PE020406080100+
34 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BYI is good value based on its Price-To-Earnings Ratio (20.2x) compared to the Global Software industry average (32.9x).

Price to Earnings Ratio vs Fair Ratio

What is BYI'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.

BYI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BYI'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 BYI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentR100.58
R139.60
+38.8%
8.8%R155.03R114.84n/a10
Dec ’25R104.40
R137.71
+31.9%
8.8%R152.93R113.28n/a10
Nov ’25R104.29
R139.22
+33.5%
8.8%R154.62R114.53n/a10
Oct ’25R117.11
R141.83
+21.1%
9.9%R157.77R116.01n/a10
Sep ’25R112.11
R146.93
+31.1%
7.3%R158.79R121.43n/a9
Aug ’25R115.23
R147.93
+28.4%
9.0%R169.96R121.07n/a8
Jul ’25R126.36
R147.72
+16.9%
7.6%R167.90R128.80n/a8
Jun ’25R133.33
R150.30
+12.7%
7.1%R170.60R130.87n/a9
May ’25R115.56
R150.09
+29.9%
7.4%R170.75R132.81n/a8
Apr ’25R125.24
R155.29
+24.0%
10.5%R191.38R133.97n/a8
Mar ’25R140.59
R160.21
+14.0%
9.0%R193.35R138.97n/a8
Feb ’25R146.00
R156.52
+7.2%
10.9%R189.81R136.43n/a6
Jan ’25R143.21
R143.55
+0.2%
5.9%R156.28R130.62n/a7
Dec ’24R134.21
R139.59
+4.0%
5.7%R152.76R127.68R104.408
Nov ’24R112.95
R138.87
+22.9%
4.8%R147.14R128.75R104.297
Oct ’24R114.62
R139.89
+22.0%
5.0%R148.93R130.31R117.117
Sep ’24R118.65
R139.47
+17.5%
6.4%R150.74R124.83R112.116
Aug ’24R120.12
R139.47
+16.1%
6.4%R150.74R124.83R115.236
Jul ’24R126.48
R138.18
+9.2%
8.9%R152.56R119.19R126.366
Jun ’24R126.89
R132.97
+4.8%
10.0%R155.94R116.95R133.337
May ’24R94.00
R122.26
+30.1%
10.8%R146.53R109.90R115.565
Apr ’24R80.81
R120.67
+49.3%
10.4%R142.14R106.61R125.246
Mar ’24R89.88
R113.10
+25.8%
13.2%R135.72R89.06R140.596
Feb ’24R85.93
R113.10
+31.6%
13.2%R135.72R89.06R146.006
Jan ’24R78.85
R108.12
+37.1%
14.4%R130.56R81.60R143.216
Dec ’23R88.00
R108.12
+22.9%
14.4%R130.56R81.60R134.216

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 04:42
End of Day Share Price 2024/12/18 00:00
Earnings2024/08/31
Annual Earnings2024/02/29

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

Bytes Technology Group plc is covered by 17 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
James ZarembaBarclays
Benjamin MayBerenberg
Alexander James ShortBerenberg