ZZD.JSE Zeda Ltd.
- Market cap
- ZAR 2.89B
- P/E
- 415.3x
- P/B
- 84.17x
- ROE
- 44.0%
- Dividend yield
- 6.75%
- Fundamental score
- 3.0/5
Ratios use the latest price and the current fiscal year annualized from 1 quarter up to Mar 2026.
Is ZZD.JSE undervalued?
Graham numberThe Graham number of Zeda Ltd. cannot be estimated reliably (the estimate is too far from the market price).
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?
Zeda Ltd. fundamental analysis
15 of 22 checks passedROE 2/2
High return on equity (44.0%), above 20%.
ROA 1/1
Return on assets (10.1%) is above the industry median (4.0%).
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 (12.5%) is above the industry median (4.8%).
Revenue Growth 1/2
Revenue grew 9.4% a year over the past 3 years.
Short-term Liquidity 1/1
Current assets cover short-term liabilities.
Long-term Liabilities 0/1
Current assets do not cover long-term liabilities.
Debt to Equity 0/2
High debt to equity (223.8%), above 100%.
Debt Trend 1/1
Debt to equity has not risen over the past 5 years.
Debt Coverage 0/1
Operating cash flow does not cover 20% of total debt.
Interest Coverage 0/1
EBIT is 2.5x against interest expense, below 5x.
PE vs Market 1/1
PE (4.2x) is below the market median (9.1x).
PE vs Industry 1/1
PE (4.2x) is below the industry median (13.8x).
PBV 1/1
Price to book (0.8x) is below the industry median (1.2x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 3.5, limit 22.5).
PEG 0/1
PEG needs positive PE and positive 5-year earnings growth.
Dividend Yield 1/2
Dividend yield (6.8%) is above the bottom 25% of dividend payers in the market.
Dividend Stability 0/2
Dividends were not paid steadily for the past 5 years.
Dividend Growth 1/1
Dividends paid grew over the past 5 years.
Payout Ratio 1/1
Payout ratio is 29.0%, covered by earnings.
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
Zeda Ltd. stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Zeda Ltd.
Zeda Limited provides mobility solutions in South Africa and other countries in Sub-Saharan Africa. It operates through the Car Rental and Leasing segments. The Car Rental Business segment provides short-term rental and subscription solutions for individuals, business travel, corporates, and government entities under the Avis and Budget brand name; replacement vehicles for its partner insurance companies; and other complementary products, including the hire of child car seat…
Full company profileZeda Ltd. financial statements
2026 annualized: Fiscal year 2026 is not finished. Income statement and cash flow are annualized from 1 quarter up to Mar 31, 2026, the balance sheet is the latest quarter. Figures change when the annual report is published.
Zeda Ltd. annual financial statements
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Anlz |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 10.2B | 8.69B | 7.67B | 8.13B | 9.14B | 10.5B | 10.6B | 22.2B |
| Gross Profit | 3.63B | 2.48B | 2.62B | 3.54B | 4.12B | 4.19B | 4.35B | 5.50B |
| Operating Income | 1.14B | 298M | 827M | 1.26B | 1.55B | 1.45B | 1.62B | 3.35B |
| EBITDA | 2.00B | 1.88B | 2.25B | 2.77B | 3.38B | 3.46B | 3.42B | 6.73B |
| Net Income | 452M | -142M | 360M | 561M | 732M | 599M | 672M | 1.50B |
| EPS | 2.38 | -0.75 | 1.90 | 2.96 | 3.87 | 3.20 | 3.60 | 8.05 |
| Balance Sheet | ||||||||
| Total Assets | 11.1B | 9.38B | 11.0B | 10.6B | 12.8B | 13.4B | 14.2B | 14.9B |
| Total Liabilities | 9.09B | 7.43B | 8.75B | 8.89B | 10.4B | 10.5B | 10.8B | 11.4B |
| Shareholders' Equity | 2.00B | 1.92B | 2.19B | 1.63B | 2.35B | 2.84B | 3.30B | 3.40B |
| Cash & Short-term Investments | 60.0M | 834K | 83.0M | 159M | 842M | 2.03M | 1.11B | 958M |
| Total Debt | 5.34B | 5.07B | 5.39B | 4.98B | 6.17B | 6.32B | 6.71B | 7.61B |
| Cash Flow | ||||||||
| Operating Cash Flow | 264M | 571M | 70.9M | 2.04B | -555M | 236M | -418M | -2.92B |
| Capital Expenditure | 15.4M | 53.1M | 19.4M | 11.3M | 14.0M | 14.8M | 17.6M | 15.5M |
| Free Cash Flow | 248M | 518M | -500M | 867M | -569M | 221M | -436M | -2.94B |
| Ratios | ||||||||
| ROE | 22.6% | -7.4% | 16.5% | 34.4% | 31.1% | 21.1% | 20.4% | 44.0% |
| ROA | 4.1% | -1.5% | 3.3% | 5.3% | 5.7% | 4.5% | 4.7% | 10.1% |
| Net Profit Margin | 4.4% | -1.6% | 4.7% | 6.9% | 8.0% | 5.7% | 6.3% | 6.8% |
| Debt to Equity | 2.68x | 2.64x | 2.47x | 3.05x | 2.62x | 2.22x | 2.03x | 2.24x |
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.
- Total Debt
- Short and long-term borrowings.
- 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.
- Debt to Equity
- Total debt divided by shareholders' equity.
Zeda Ltd. dividends
- Dividend yield
- 6.75%
- Forward dividend
- 1.60 ZAR
- Payout ratio
- 29.0%
- Ex-dividend date
- Jun 17, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | ZAR 195M | 1.05 | 29.0% |
| 2024 | ZAR 99.3M | 0.53 | 16.6% |
| 2023 | ZAR 3.94M | 0.02 | 0.5% |
| 2022 | ZAR 1.16B | 6.11 | 206.5% |
| 2021 | ZAR 130M | 0.68 | 36.0% |
| 2020 | 53.0M | 0.28 | - |
| 2019 | 225M | 1.19 | 49.7% |
| 2002 | - | - | - |
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 Zeda Ltd.
- Insiders 29.94%
- Institutions 18.99%
- Public & others 51.07%
- Shares outstanding 184M
- Free float 132M
Zeda Ltd. company profile
- Company name
- Zeda Ltd.
- Ticker
- ZZD.JSE
- Exchange
- Johannesburg Exchange
- Sector
- Industrials
- Industry
- Trading Companies & Distributors
- Employees
- 1,962
- Fiscal year end
- September
- Address
- 2 Sysie Road, Kempton Park, South Africa, 1619
- Phone
- 27 11 387 8027
- Website
- zeda.co.za
About Zeda Ltd.
Zeda Limited provides mobility solutions in South Africa and other countries in Sub-Saharan Africa. It operates through the Car Rental and Leasing segments. The Car Rental Business segment provides short-term rental and subscription solutions for individuals, business travel, corporates, and government entities under the Avis and Budget brand name; replacement vehicles for its partner insurance companies; and other complementary products, including the hire of child car seats, GPS and bike racks, and specialized insurance products. Its Leasing Business segment offers leasing services of vehicles, such as motorcycles and heavy commercial vehicles for corporates, small businesses, and government entities; complementary products, such as telematics, intelligent fuel and accident management, roadside assistance, insurance, and managed maintenance services; and service and maintenance plans. In addition, the company sells its cars from its rental and leasing businesses to retail customers and wholesalers through dealerships, wholesale outlets, online channels, and independent wholesalers. It also engages in the advertisement of its retail vehicles through Avis Car Sales and other third-party websites, as well as the sale of wholesale stock through the Avis Auction online auction trading platform and bulk deal offerings directly to the market. The company was founded in 1967 and is headquartered in Kempton Park, South Africa.
Zeda Ltd. management
10- Ms. Ramasela Joyce GandaGroup CEO & Executive Director · born 1974
- Ms. Thobeka Ntshiza C.A.Group Financial Director & Executive Director · born 1981
- Ms. Thlabi Ntlha C.A.Chief Operations Officer
- Mr. Litha Carl Nkombisa BCom, MDPChief Sales Executive · born 1967
- Ms. Babalwa GeorgeChief Corporate Affairs, Investor Relations and Strategy
- Ms. Chioneso SakutukwaCompany Secretary and General Counsel
- Ms. Itumeleng RamoganyakaChief Risk and Sustainability Officer
- Ms. Mmabatho TlaleChief Human Capital Officer
- Ms. Ana BonanniChief Retail & Business Development
- Ms. Amanda MoletsaneChief Transformation Officer