Try our mobile app

General information

Sector: Industrials

The company is not available at Interactive Brokers

Adcorp Holdings Limited (JSE:ADR) is a leading workplace solutions company, driven to grow people, businesses and economies through connections that allow them to realise their potential.

In a world that’s constantly reinventing itself, we need new skills, talents and capabilities to interact, connect and collaborate. Adcorp is the workplace solutions provider that seeks new ways to shape markets, economies and our shared future.

The company's driving passion is connecting people with jobs that create more efficient workplaces. Along the way, the company goes beyond helping businesses to access the skills they need to grow their companies, to streamlining complex processes and giving clients the power to do better, smarter, faster business.

At the same time, Adcorp is all about making job-seeker’s dreams a reality.

Its solutions also enable employees to access the financial support they need, the healthcare they require, and the peace of mind they crave. In this way, they have the freedom and the focus to make the company a success.



  • Bad financial results growth rate -16.3% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (-0.1%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 11.4% (LTM)
  • Share price is 34.7% higher than minimum and 42.2% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (2.5x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)4.27
Share price, USD: 0.2313
Common stocks: 109 880 562

Dividend Yield:  0.0%
FCF Yield LTM: 11.4%
EV / LTM EBITDA: 2.5x
Last revenue growth (y/y):  -6.8%
Last growth of EBITDA (y/y):  -25.9%
Historical revenue growth:  -5.6%
Historical growth of EBITDA:  -9.1%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 25
Net Debt ($m): 13
EV (Enterprise Value): 38
EBITDA LTM ($m): 15
EV / LTM EBITDA: 2.5x
Price to Book: 0.34x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

TechCentral Headlines

The company buying up Altron shares

Value Capital Partners, chaired by former Brait CEO Antony Ball, recently made further big purchases of Altron shares.

2023-08-31 15:46 +02:00
by Sandra Laurence

JSE:PPH JSE:TBS JSE:BYI JSE:AVI JSE:TKG JSE:KAP JSE:JSE JSE:ADH JSE:SUI JSE:PPC JSE:BAT JSE:ADR JSE:ISA

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-07-29
General repurchase of ordinary shares
2022-07-28
Results of the Annual General Meeting
2022-07-06
Settlement of shares in terms of the Adcorp Share Plan
2022-07-01
Broad-Based Black Economic Empowerment Act (“The Act”): Annual Compliance Report
2022-06-29
No change statement, distribution of integrated annual report and notice of annual general meeting
2022-06-27
Notification of change in external auditor
2022-06-27
General repurchase of ordinary shares
2022-06-27
Changes to the board
2022-05-30
Summarised Audited Consolidated Results and Dividend Declaration for the Year Ended 28 February 2022
2022-05-30
Appointment of Lead Independent Director
2022-05-23
Updated trading statement for the twelve months ending 28 February 2022 and notice of results presentation
2022-05-13
Trading Statement and Operational Update for the Twelve Months Ending 28 February 2022
2022-03-10
Passing of Adcorp Holdings Limited Lead Independent Director: Mr Michael Spicer
2022-02-18
General Repurchase of Ordinary Shares
2022-02-17
Dealing in Shares by Prescribed Officers
2022-02-09
Dealing in Shares by a Prescribed Officer
2021-12-06
Changes to the Board: Appointment of Alternative Non-Executive Director & Resignation of a Non-Executive Director
2021-11-26
Dealing in Shares by a Prescribed Officer
2021-11-19
Dealing in Shares by a Prescribed Officer
2021-11-03
Dealing in Shares by a Director
2021-10-28
Summary of the Unaudited Interim Financial Results for the Six Months Ended 31 August 2021
2021-10-21
Trading Statement And Results Presentation
2021-08-27
Dealing in Shares By a Prescribed Officer
2021-08-23
Dealing in Shares by a Prescribed Officer

SENS Announcements

2024-03-25
Results of the Odd-lot Offer
2024-03-07
Resignation of company secretary
2024-03-05
Acceptance of awards in terms of the Adcorp Long-Term Incentive (“LTI”) Plan
2024-03-05
Finalisation announcement: odd-lot offer
2024-02-27
Results of general meeting – odd-lot offer
2024-01-29
Proposed odd-lot offer, distribution of circular and notice of general meeting
2023-12-14
Settlement of shares in terms of the Adcorp Share Plan
2023-10-30
Summary of the unaudited interim financial results and dividend declaration for the six months ended 31 August 2023
2023-10-16
Trading Statement and Results Presentation
2023-08-29
Dealing in securities
2023-08-03
Dealings in securities by a director
2023-08-01
Finalisation announcement regarding the declaration of the special dividend
2023-07-27
Results of the annual general meeting
2023-07-18
Annual compliance report prepared in terms of the Broad-Based Black Economic Empowerment Act
2023-07-07
Dealings in securities
2023-06-30
No change statement, distribution of notice of annual general meeting (“AGM”) and annual financial statements
2023-06-29
Audited consolidated results for the year ended 28 February 2023 – additional update to full announcement
2023-06-01
Dealings in securities
2023-05-29
AUDITED CONSOLIDATED RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2023 – UPDATE TO FULL ANNOUNCEMENT
2023-05-29
Summary of the Audited Consolidated Results for the year ended 28 February 2023
2023-05-22
Trading statement, operational update and results presentation
2023-02-28
Change in sponsor
2023-01-23
General repurchase of ordinary shares
2023-01-16
Dealing in securities: Award and acceptance of shares in terms of the Adcorp Share Plan
2022-12-14
Update on Allaboutxpert Australia
2022-10-31
Unaudited Interim Financial Results And Declaration of Interim Cash Dividend For The Six Months Ended 31 August 2022
2022-10-19
Trading Statement and Results Presentation
2022-09-01
Dealing in shares by a prescribed officer
2022-08-31
Dealings in shares by a prescribed officer
2022-07-29
General repurchase of ordinary shares
2022-07-28
Results of the Annual General Meeting
2022-07-06
Settlement of shares in terms of the Adcorp Share Plan
2022-07-01
Broad-Based Black Economic Empowerment Act (“The Act”): Annual Compliance Report
2022-06-29
No change statement, distribution of integrated annual report and notice of annual general meeting
2022-06-27
Notification of change in external auditor
2022-06-27
General repurchase of ordinary shares
2022-06-27
Changes to the board
2022-05-30
Summarised Audited Consolidated Results and Dividend Declaration for the Year Ended 28 February 2022
2022-05-30
Appointment of Lead Independent Director
2022-05-23
Updated trading statement for the twelve months ending 28 February 2022 and notice of results presentation
2022-05-13
Trading Statement and Operational Update for the Twelve Months Ending 28 February 2022