GNDP.JSE Grindrod Limited
- Market cap
- ZAC 57.7M
- P/E
- 435.1x
- P/B
- -
- ROE
- 22.2%
- Dividend yield
- 7.88%
- Fundamental score
- 2.3/5
Ratios use the latest price and the fiscal year ending Dec 2025.
Is GNDP.JSE undervalued?
Graham numberThe Graham number of Grindrod Limited cannot be estimated reliably (it needs positive earnings and book value).
Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?
Grindrod Limited fundamental analysis
10 of 22 checks passedROE 2/2
High return on equity (22.1%), above 20%.
ROA 1/1
Return on assets (13.3%) is above the industry median (1.7%).
Profit Consistency 2/2
Profitable for 5 consecutive years.
Earnings Growth 5Y 1/1
Earnings per share grew over the past 5 years.
Earnings Acceleration 0/1
Not enough positive earnings history to compare last year's growth with the 5-year average.
Earnings Growth vs Industry 1/1
Last year's EPS growth (449.7%) is above the industry median (-4.1%).
Revenue Growth 0/2
Revenue shrank 2.4% a year over the past 3 years.
Short-term Liquidity 1/1
Current assets cover short-term liabilities.
Long-term Liabilities 1/1
Current assets cover long-term liabilities.
Debt to Equity 2/2
Low debt to equity (11.0%), 40% or less.
Debt Trend 0/1
Debt to equity has risen over the past 5 years.
Debt Coverage 1/1
Operating cash flow covers 20% of total debt.
Interest Coverage 1/1
EBIT is 9.6x against interest expense, well covered.
PE vs Market 0/1
PE (435.1x) is above the market median (9.1x).
PE vs Industry 0/1
PE (435.1x) is above the industry median (17.0x).
PBV 0/1
Price to book is negative or not available.
Graham Number 0/1
Graham number needs positive earnings and book value.
PEG 0/1
PEG needs positive PE and positive 5-year earnings growth.
Dividend Yield 0/2
No dividend paid in the last reported year.
Dividend Stability 0/2
Dividends were not paid steadily for the past 5 years.
Dividend Growth 0/1
Dividends paid did not grow over the past 5 years.
Payout Ratio 0/1
No dividend, or no profit to pay it from.
Each check is worth 1 or 2 points by how much it says about the quality of the company. The score is the share of points earned, out of 5. Ask AI to explain this score
Grindrod Limited stock price
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About Grindrod Limited
Grindrod Limited, together with its subsidiaries, engages in the logistics services business in the Middle East, Singapore, Asia, the Far East, Australia, South Africa, and Rest of Africa. The company operates through Ports and Terminals; Logistics; Group; Private Equity and Property; and Marine Fuels segments. It engages in the provision of logistics solution for mining, agricultural, new energy commodities and project cargo; import and export solutions; and financing, cons…
Full company profileGrindrod Limited financial statements
Grindrod Limited annual financial statements (ZAR; K = thousand, M = million, B = billion, T = trillion)
| Item | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 9.03B | 3.06B | 3.42B | 3.83B | 3.75B | 3.90B | 5.88B | 4.85B | 4.84B | 5.47B |
| Gross Profit | 2.42B | 1.96B | 3.23B | 3.87B | - | - | 886M | 623M | 785M | 1.34B |
| Operating Income | -130M | 277M | 3.23B | 527M | -193M | 574M | 619M | 531M | 386M | 901M |
| EBITDA | - | 1.41B | 1.31B | 1.16B | 35.0M | 1.07B | 1.90B | 1.97B | 1.29B | 3.32B |
| Net Income | -1.84B | -515M | 2.91B | -342M | -364M | 221M | 657M | 1.06B | 390M | 2.14B |
| EPS | - | -0.69 | 4.28 | -0.50 | -0.54 | 0.33 | 0.98 | 1.59 | 0.58 | 3.21 |
| Balance Sheet | ||||||||||
| Total Assets | 36.2B | 34.9B | 25.7B | 27.9B | 23.6B | 25.2B | 13.8B | 14.6B | 14.8B | 16.1B |
| Total Liabilities | 20.4B | 20.8B | 16.0B | 19.2B | 15.6B | 16.6B | 5.01B | 4.69B | 4.89B | 6.43B |
| Shareholders' Equity | 15.8B | 14.2B | 9.62B | 8.81B | 8.11B | 8.62B | 8.88B | 9.93B | 9.92B | 9.65B |
| Cash & Short-term Investments | 9.48B | 8.97B | 3.82B | 4.73B | 1.85B | 2.06B | 2.61B | 2.11B | 1.45B | 3.30B |
| Cash Flow | ||||||||||
| Operating Cash Flow | 2.31B | 502M | -5.33B | 543M | -1.62B | 1.04B | 824M | 430M | 195M | 1.48B |
| Capital Expenditure | 259M | 146M | 349M | 201M | 241M | 413M | 454M | 702M | 478M | 310M |
| Free Cash Flow | - | 275M | -6.43B | 198M | -1.92B | 582M | 69.5M | -272M | -283M | 1.17B |
| Ratios | ||||||||||
| ROE | -11.7% | -3.6% | 30.3% | -3.9% | -4.5% | 2.6% | 7.4% | 10.7% | 3.9% | 22.2% |
| ROA | -5.1% | -1.5% | 11.3% | -1.2% | -1.5% | 0.9% | 4.8% | 7.3% | 2.6% | 13.3% |
| Net Profit Margin | -20.4% | -16.8% | 85.0% | -8.9% | -9.7% | 5.7% | 11.2% | 21.9% | 8.1% | 39.1% |
What these items mean
- Revenue
- Total sales of goods and services in the period.
- Gross Profit
- Revenue minus the direct cost of producing what was sold.
- Operating Income
- Profit from the core business after operating expenses.
- EBITDA
- Earnings before interest, taxes, depreciation and amortization.
- Net Income
- Profit left for shareholders after all expenses, interest and taxes.
- EPS
- Net income divided by shares outstanding.
- Total Assets
- Everything the company owns.
- Total Liabilities
- Everything the company owes.
- Shareholders' Equity
- Assets minus liabilities: the book value that belongs to shareholders.
- Cash & Short-term Investments
- Cash and investments that can be turned into cash quickly.
- Operating Cash Flow
- Cash generated by the core business.
- Capital Expenditure
- Cash spent on property, plant and equipment.
- Free Cash Flow
- Operating cash flow minus capital expenditure: cash left for dividends, buybacks or debt repayment.
- ROE
- Return on equity: net income divided by shareholders' equity.
- ROA
- Return on assets: net income divided by total assets.
- Net Profit Margin
- Net income as a share of revenue.
Grindrod Limited dividends
- Dividend yield
- 7.88%
- Forward dividend
- 8.98 ZAC
- Payout ratio
- -
- Ex-dividend date
- Sep 9, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | - | - | - |
| 2024 | - | - | - |
| 2023 | - | - | - |
| 2022 | ZAC 300M | 0.45 | 45.7% |
| 2021 | ZAR 46.6M | 0.07 | 21.0% |
| 2020 | ZAC 159M | 0.24 | - |
| 2019 | ZAC 206M | 0.30 | - |
| 2018 | ZAC 71.1M | 0.10 | 2.4% |
| 2017 | ZAC 76.8M | 0.10 | - |
| 2016 | ZAR 113M | - | - |
From the cash flow statement: dividends paid in the fiscal year, divided by that year's shares outstanding. Payout ratio = dividends paid / net income.
Who owns Grindrod Limited
- Insiders 0.00%
- Institutions 4.00%
- Public & others 96.00%
- Shares outstanding 753M
- Free float 561M
Grindrod Limited company profile
- Company name
- Grindrod Limited
- Ticker
- GNDP.JSE
- Exchange
- Johannesburg Exchange
- Sector
- Industrials
- Industry
- Air Freight & Logistics
- Employees
- 4,000
- Fiscal year end
- December
- Address
- Grindrod House, Durban, South Africa, 4001
- Phone
- 27 31 304 1451
- Website
- grindrod.com
About Grindrod Limited
Grindrod Limited, together with its subsidiaries, engages in the logistics services business in the Middle East, Singapore, Asia, the Far East, Australia, South Africa, and Rest of Africa. The company operates through Ports and Terminals; Logistics; Group; Private Equity and Property; and Marine Fuels segments. It engages in the provision of logistics solution for mining, agricultural, new energy commodities and project cargo; import and export solutions; and financing, constructing, rehabilitating, operating, and maintaining the ports. The company also provides dry bulk services, such as storage, cargo flow management, ship loading or discharging, stevedoring, clearing and forwarding, stock management, and rail scheduling; and car terminal services, including terminal handling, stevedoring, tallying, inspection and vehicle surveys, preservation, storage and managing of project cargo, and other value-added services. In addition, it offers cross dock and bonded warehousing solutions comprising containerization of bulk commodities, empty and full container depots, sales of gensets to the reefer market, container packing and unpacking, cargo handling, storage and distribution, and customs services; container depot services storage and handling of empty marine containers, mechanical and structural container repairs, cold treatment preparation for reefer containers, warranty repairs on reefer equipment, washing and cleaning of containers, empty container transport, gassing of containers, CA preparations - STERI preparations, port monitoring / on-board monitoring, reefer services, parts sales, and bonded and duty paid warehousing; ships agency and marine technical services; clearing and forwarding; and border and project logistics. Further, the company provides rail freight broking and consultancy and rolling stock advice and maintenance; road haulage services; seafreight; and air freight solutions. The company was founded in 1910 and is based in Durban, South Africa.
Grindrod Limited management
5- Mr. Kwazi MabasoChief Executive Officer & Executive Director · born 1982
- Ms. Fathima Ally C.A.CFO & Executive Director · born 1981
- Alison BriggsPublic Relations & Marketing Manager
- Ms. Vicky CommailleGroup Company Secretary
- Reshmee SoniInvestor Relations