UG5A.F
Tiger Brands Limited

Consumer Defensive · Packaged Foods · valued as of 2026-11-03 · statements 2025-09-30

Average Intrinsic Value

1.24B USD

Market Cap

2.31B USD

Margin of Safety

-86.8%

Intrinsic / Market Ratio

0.54×

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

EPV + Growth

1.27B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

1.78B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

659.26M USD

15 years of cash for shareholders and lenders, less what is owed

Intrinsic Value

1.24B USD

the plain average of the three, uncapped, as the screener averages them

Intrinsic Value

1.24B USD

from the sum above

Market Cap

2.31B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.54×

the ratio the screener ranks by; Margin of Safety -86.8% (1 − Market Cap ÷ Intrinsic Value)

Each card below builds one of the three values from the reported years.

Earnings power value plus growth: 1.27B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)1.36B USD
−②Net Debt Today93.86M USD
+③Growth Value0 USD
=Value1.27B USD

EPV of the Operations (NOPAT over WACC)

1.36B USD

Net debt today

-93.86M USD

Growth Value

0 USD

Value

1.27B USD

①EPV (earnings power value)

1.36B USD

②Net Debt Today

93.86M USD

③Growth Value

0 USD

Market value

Market Cap2.31B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-81.9%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 1.78B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE1.21B USD
+②Equity at Year 15, Today575.54M USD
=Value1.78B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

1.21B USD

②Equity at Year 15, Today

575.54M USD

Market value

Market Cap2.31B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-29.7%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 659.26M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 659.26M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap2.31B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-250.7%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 9.87%
Cost of Equity =Risk-Free Rate 4.50%+Beta (default) 1.00×Market Risk Premium 6.00%= 10.50%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 110.95M USDPretax Income 348.52M USD= 31.83%

The tax the interest saves.

Interest Expense =EBIT 349.21M USD−Pretax Income 348.52M USD= 696.34K USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 696.34K USDTotal Debt 151.63M USD×(1 − Tax Rate for WACC 31.83%)= 0.31%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 151.63M USDMarket Cap + Total Debt 2.31B USD + 151.63M USD= 6.15%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 93.85%×Cost of Equity 10.50%+Debt Weight 6.15%×Cost of Debt 0.31%= 9.87%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-03-31.

Total Assets 1.29B USD − Total Liabilities 628.23M USD = Book Value Today 659.26M USD

Total Debt 151.63M USD − Cash and Short-Term Investments 57.76M USD = Net Debt Today 93.86M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-6.5%at most 5%passes146,189,935 / 156,414,443
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-6.9%at least -10.0%passes(132.30M USD − 221.49M USD) ÷ 1.29B USD
Price to bookMarket Cap ÷ Book Value Today3.51×at most 3×does not pass2.31B USD ÷ 659.26M USD
Operating marginOperating Income ÷ Revenue10.7%above 10.0%passes213.25M USD ÷ 2.00B USD
Revenue growthRevenue ÷ Revenue a Year Before − 11.7%above 10.0%does not pass2.00B USD / 1.96B USD
Net cash(Cash − Total Debt) ÷ Market Cap-4.5%above -30%passes(47.57M USD − 151.63M USD) ÷ 2.31B USD
Operating efficiencyOperating Income ÷ Gross Profit34.1%above 25.0%passes213.25M USD ÷ 625.08M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

14.11 EUR

Enterprise value

3.92B EUR

the provider's own figure

EV / EBITDA

0.78×

Price / book

3.43×

the provider's book

Price / earnings

13.69×

Return on equity

21.3%

the provider's figure, not this page's

Profit margin

9.6%

Revenue growth

1.3%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

1.90B1.97B1.96B2.00B

Gross profit

574.77M545.56M571.39M625.08M

Operating income

178.96M155.66M160.74M213.25M

EBITDA

operating income before depreciation and amortisation

268.54M249.15M274.10M398.94M

Pretax income

218.11M187.35M204.56M348.52M

Net income

159.60M142.30M174.75M221.49M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

151.27M137.17M147.35M167.80M

R&D

————
Balance sheet, year end

Total assets

1.34B1.37B1.56B1.56B

Total liabilities

463.90M446.51M480.13M563.80M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

869.69M914.91M1.07B985.55M

Total debt

83.23M110.53M72.76M20.72M

Cash and equivalents

62.18M44.53M95.19M178.09M

Net PP&E

fixed assets after depreciation

324.12M326.59M362.96M363.32M

Working capital

current assets less current liabilities

265.22M333.07M360.80M469.22M
Cash flow

Operating cash flow

36.04M19.53M173.05M132.30M

Capital expenditure

paid out, so below zero

-55.94M-63.98M-56.82M-69.00M

Depreciation and amortisation

47.96M50.14M54.01M49.73M

Free cash flow

operating cash flow plus capital expenditure

-19.90M-44.45M116.22M63.31M