Obermatt

Netcare

JNB:NTC · ZAE000011953
Health Care Providers & ServicesLarge

360

87
EV / EBIT90
Price / Owner Earnings48
Owner Earnings Yield67
Dividend Yield89
Price/Sales87
EV / Gross Profit94
Price/Book58
Return on Capital81
Cash Return on Capital62
Return on Equity88
EBIT Margin71
Gross Profitability93
Cash Conversion39
Accruals40
Owner Earnings Margin49
Sales growth40
Profit Growth75
Long-Term EPS Growth17
Owner Earnings Growth49
Reinvestment56
Price momentum77
Debt load11
Refinancing73
Debt Payback43
Liquidity32
Analyst ratings55
Opinion Changes50
Price Target Upside9
Market mood69
Value Creation16/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Netcare generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountrySouth Africa
IndustryHealth Care Providers & Services
SizeLarge
TypePublic Company
ExchangeJSE
Founded1996
Employees5,782
ISINZAE000011953
Last UpdateApr 2, 2026
Themes
Health DiagnosticsDigital Mental HealthOutpatient CareCardiovascularCorporate Wellness ProgramsNephrologyDigital WellnessChronic DiseasesOncologyHealth CareHospitalInformation Technology

Description

Netcare Limited operates as a private healthcare provider and is one of the largest healthcare networks in South Africa. The organization is primarily engaged in the provision of hospital and emergency care, primary healthcare, and mental health serv…

Analysis

Bargain bin

Netcare Limited is priced cheaply, and that invites the natural question of why, since the underlying business scores below average. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is fair. The owner-earnings multiple stands at 17.2×; owner earnings: the cash an owner could take out each year.

Growth is moderate; the safety picture is adequate. The company scores 16/20 on our value-creation score: strong value creator.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
91
2023202420252026

All-time high

91

Jun 2026

All-time low

36

Apr 2024

Average rank

58

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
87
85
95
95
Price/Earnings
80
85
88
72
Price/Book
58
72
74
72
Dividend Yield
89
94
92
98
Value (overall)
89
91
85
96

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →