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General information

Sector: Industrials

The company is available at Interactive Brokers

Bidvest Group (JSE:BVT) is a leading South African services, trading and distribution group. The group operates in the areas of consumer and industrial products, electrical products, financial services, freight management, office and print solutions, outsourced hard and soft services, travel and aviation services and automotive retailing.

With roots firmly established in South Africa, the group consistently broadens its product offering through organic and acquisitive growth in local as well as select niche international markets.



  • Bad financial results growth rate -3.6% (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 -3.4% (LTM)
  • Share price is 45.1% higher than minimum and 17.0% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (7.5x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (+3.8%)239.54
Share price, USD: 12.74
Common stocks: 340 265 142

Dividend Yield:  0.0%
FCF Yield LTM: -3.4%
EV / LTM EBITDA: 7.5x
Last revenue growth (y/y):  -1.8%
Last growth of EBITDA (y/y):  -5.3%
Historical revenue growth:  +12.0%
Historical growth of EBITDA:  +12.8%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 4 333
Net Debt ($m): 1 860
EV (Enterprise Value): 6 193
EBITDA LTM ($m): 829
EV / LTM EBITDA: 7.5x
Price to Book: 2.15x

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

South Africa’s battle of the spreadsheet warriors

Last weekend saw 14 spreadsheet warriors – experts at Excel – showcasing what’s possible with the software for big prize money.

2023-09-07 12:26 +02:00
by Nkosinathi Ndlovu

JSE:BVT JSE:MPT JSE:HUG JSE:ISA

TC|Daily | PayShap: The fintech revolution coming to SA’s payments system

Big changes are coming to the payments industry in South Africa early next year. BankservAfrica CEO unpacks all the details in this episode of TC|Daily.

2022-09-19 11:19 +02:00
by TechCentral

JSE:FSR JSE:SBK JSE:ABG JSE:NED JSE:BVT JSE:INP JSE:INL JSE:MPT JSE:SFN JSE:HUG JSE:ISA

Huge changes coming to South Africa’s payments system

Big changes are coming to South Africa’s payments industry that will shake up the financial services sector, according to BankservAfrica CEO Jan Pilbauer.

2022-02-18 15:29 +02:00
by Duncan McLeod

JSE:FSR JSE:MTN JSE:SBK JSE:ABG JSE:NED JSE:BVT JSE:INP JSE:INL JSE:AVI JSE:SFN JSE:ISA

EOH among firms Cape Town warns over contracts

Cape Town has threatened to scrap contracts with companies including EOH, EY and Nedbank after the firms were named in the Zondo probe into state capture.

2022-02-15 06:55 +02:00
by Agency Staff

JSE:NED JSE:BVT JSE:EMN JSE:EOH JSE:EMH

Cell tower battery theft scourge continues despite some progress

MTN South Africa said on Tuesday that it’s some making progress in fighting the scourge of cellphone tower battery theft, though the problem is far from being overcome.

2020-02-18 13:06 +02:00
by Staff Reporter

JSE:MTN JSE:BVT JSE:AVI JSE:TKG

Criminals are destroying South Africa’s mobile infrastructure

There has been an alarming rise in incidents of battery theft from cellphone towers in South Africa and urgent action is needed to address the situation, MTN said on Monday.

2019-07-29 16:00 +02:00
by Staff Reporter

JSE:MTN JSE:BVT JSE:MPT JSE:ISA

Meet Naspers’s new South African CEO

A little more than 100 years ago, Naspers was created by white South Africans to produce a Dutch-language newspaper. Now the continent’s biggest company, Naspers just named its first woman, and first black person, as CEO.

2019-07-04 06:30 +02:00
by Agency Staff

JSE:PRX JSE:NPN JSE:VOD JSE:GFI JSE:BVT JSE:AVI JSE:JSE JSE:EMN JSE:EMH JSE:ISA

Reuters Headlines

S.African service provider Bidvest reports 6% half-year profit rise

South Africa`s diversified service provider Bidvest Group reported a 6.1% year-on-year rise in profit for the six months that ended Dec. 31, the company said on Monday.

2021-03-01

JSE:BVT JSE:MPT JSE:ISA

UPDATE 1-South Africa`s rand recovers in global emerging market bounce

South Africa`s rand firmed on Tuesday, shaking off a batch of poor domestic data recently, as moves by several countries to ease coronavirus lockdowns lifted global risk appetite.

2020-05-05

JSE:GFI JSE:SSW JSE:ANG JSE:BVT JSE:AVI JSE:ENX JSE:ISA

UPDATE 1-South African rand stumbles on economic data

South Africa`s rand was weaker on Thursday on lingering ecomnomic weakness highlighted by the country`s current account deficit and business confidence data.

2019-12-05

JSE:GFI JSE:BVT JSE:MRP JSE:AVI JSE:JSE

UPDATE 1-South Africa`s rand firms, stocks flat

* Sasol results delayed on Lake Charles project (Updates prices, adds stocks)

2019-08-16

JSE:SOL JSE:DSY JSE:BVT JSE:TFG JSE:SAP JSE:HUG

South Africa`s ANC says central bank nationalization won`t affect mandate

The plans of South Africa`s ruling African National Congress (ANC) to nationalize the central bank will be implemented responsibly and will not affect the institution`s mandate or independence, party officials said on Tuesday.

2019-07-30

JSE:ABG JSE:BVT JSE:ARH JSE:ISA

UPDATE 1-South Africa`s rand retreats as Fed pendulum swings back to soft cuts

South Africa`s rand weakened on Friday, giving back some of the big gains from the previous session as expectations of an aggressive interest rate cut by the Federal Reserve cooled, prompting investors to pocket end-of-week profits.

2019-07-19

JSE:GFI JSE:BVT JSE:ZED JSE:ARH

UPDATE 2-South Africa`s Long4Life beats sales estimates, shares jump

* Still looking for deals (Adds analyst comment, cash capacity for deals)

2019-05-15

JSE:BVT JSE:L4L JSE:ISA

UPDATE 2-South Africa`s Bidvest confirms Madisa as CEO-in-waiting

* Bidvest shares down 0.07 pct to 211.46 rand at 1350 GMT (Recasts with CEO designate)

2019-03-04

JSE:BVT JSE:AVI JSE:AIP JSE:ISA

Insider trades

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Releases

2022-07-07
Voluntary Announcement: Bidvest acquires Bic Australia
2022-05-30
Voluntary Trading Update: ten months to 30 April 2022
2022-02-28
Unaudited Financial Results and cash dividend declaration for the six months ended 31 December 2021
2022-02-11
Trading Statement
2022-01-17
Publication of Broad-Based Black Economic Empowerment annual compliance report
2021-12-10
Acceptance of Share Appreciation Rights (“Sar”) by the company secretary
2021-12-07
Appointment to the board and board committees
2021-11-29
Report on Annual General Meeting Proceedings and Granting of Long-Term Incentive Awards
2021-11-26
Voluntary Trading Update: Four months to 31 October 2021
2021-11-05
Disclosure of significant holding of Bidvest ordinary shares
2021-10-27
Distribution of notice of AGM, Annual Integrated Report for the period ended 30 June 2021 and no change statement
2021-10-20
Disclosure of significant holding of Bidvest ordinary shares
2021-10-15
Disclosure of significant holding of Bidvest ordinary shares
2021-10-04
Disclosure of significant holding of Bidvest ordinary shares

SENS Announcements

2024-04-08
Disclosure of Significant Holding of Bidvest Ordinary Shares
2024-03-28
Disclosure of Significant Holding of Bidvest Ordinary Shares
2024-03-11
Disclosure of Significant Holding of Bidvest Ordinary Shares
2023-12-13
Disclosure of Significant Holding of Bidvest Ordinary Shares
2023-12-11
Acceptance of Share Appreciation Rights by the Company Secretary
2023-11-29
Report on Annual General Meeting Proceedings and Granting and Acceptance of Long-Term Incentive Awards
2023-11-28
Voluntary Trading Update: Four Months to 31 October 2023
2023-11-02
Disclosure of Significant Holding of Bidvest Ordinary Shares
2023-11-01
Director Dealings in Securities
2023-10-10
Disclosure of Significant Holding of Bidvest Ordinary Shares
2023-10-05
Notice in terms of section 45(5) of the Companies Act of 2008 as amended
2023-10-03
Publication of Broad-Based Black Economic Empowerment Annual Compliance Report
2023-09-29
Award of Long-Term Incentives in terms of the 2008 Bidvest Conditional Share Plan and Director Dealings
2023-09-20
Voluntary Announcement: Bidvest Acquires Consolidated Property Services Australia
2023-08-22
Trading Statement
2023-06-08
Voluntary trading update: Ten months to 30 April 2023
2023-05-03
Disclosure of significant holding of Bidvest ordinary shares
2023-04-12
Disclosure of Significant Holding of Bidvest Ordinary Shares
2023-03-07
Disclosure of significant holding of Bidvest ordinary shares
2023-02-13
Disclosure of significant holding of Bidvest ordinary shares
2022-12-09
Acceptance of Share Appreciation Rights (“SAR”) by the Company Secretary
2022-11-25
Report of the annual general meeting proceedings and granting of long-term incentive awards
2022-11-25
Voluntary Trading Update: Four months to 31 October 2022
2022-10-31
Correction to the 2022 AGM Form of Proxy
2022-10-25
Publication Of Broad-Based Black Economic Empowerment Annual Compliance Report
2022-10-25
Director Dealings in Securities
2022-10-14
Director Dealings in Securities
2022-10-13
Amendment to Director’s Declaration
2022-10-11
Disclosure of Significant Holding of Bidvest Ordinary Shares
2022-09-26
Notice in terms of section 45(5) of the Companies Act of 2008 as amended
2022-09-23
Notice in terms of Section 45(5) of the Companies Act of 2008 as amended
2022-09-14
Changes in Directorship
2022-09-06
Granting of Long-term Incentive Awards in terms of the 2008 Bidvest Conditional Share Plan
2022-08-23
Trading Statement
2022-07-07
Voluntary Announcement: Bidvest acquires Bic Australia
2022-05-30
Voluntary Trading Update: ten months to 30 April 2022