Fact based stock research
Nedbank Group (JSE:NED)

ZAE000004875

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Nedbank Group stock research in summary

nedbank.co.za

ANALYSIS: With an Obermatt Combined Rank of 86 (better than 86% compared with investment alternatives), Nedbank Group (Diversified Banks, South Africa) shares have much better financial characteristics than comparable stocks. Shares of Nedbank Group are a good value (attractively priced) with a consolidated Value Rank of 89 (better than 89% of alternatives), are safely financed (Safety Rank of 84, which means low debt burdens), but show below-average growth (Growth Rank of 22). ...read more

RECOMMENDATION: A Combined Rank of 86, is a strong buy recommendation based on Nedbank Group's financial characteristics. As the company Nedbank Group's key financial metrics exhibit good value (Obermatt Value Rank of 89) but low growth (Obermatt Growth Rank of 22) while being safely financed (Obermatt Safety Rank of 84), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 89% of comparable companies, may also indicate that the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity and the downside is limited due to below-average financing risks. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	89
Growth Rank	22
Safety Rank	84
Combined Rank	86

Country	South Africa
Industry	Diversified Banks
Index	Human Rights, Independent Boards Growth Markets, JSE All Shares
Size class	Small

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Nedbank Group

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	89	85	81	89
GROWTH
GROWTH	57	23	33	22
SAFETY
SAFETY	11	35	38	84
SENTIMENT
SENTIMENT	5	41	67	^new
360° VIEW
360° VIEW	11	39	58	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Nedbank Group is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	89	85	81	89
GROWTH
GROWTH	57	23	33	22
SAFETY
SAFETY	11	35	38	84
COMBINED
COMBINED	53	47	46	86

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Nedbank Group the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 89 (better than 89% compared with alternatives) for 2025, Nedbank Group shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Nedbank Group. Price-to-Sales is 84 which means that the stock price compared with what market professionals expect for future sales is lower than for 84% of comparable companies, indicating a good value for Nedbank Group's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 82% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 63. Compared with other companies in the same industry, dividend yields of Nedbank Group are expected to be higher than for 94% of all competitors (a Dividend Yield rank of 94). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 89, is a buy recommendation based on Nedbank Group's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Nedbank Group based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	75	82	75	84
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	86	77	75	82
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	69	67	49	63
DIVIDEND YIELD
DIVIDEND YIELD	88	94	90	94
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	89	85	81	89

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Nedbank Group; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 22 (better than 22% compared with alternatives), Nedbank Group shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with all four metrics below average for Nedbank Group. Sales Growth has a rank of 34, which means that currently professionals expect the company to grow less than 66% of its competitors. The same is valid for Profit Growth, with a rank of 48, and Capital Growth with 39. In addition, Stock Returns have a below market rank of 27, which means that the stock returns have recently been below 73% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 22, is a sell recommendation for growth and momentum investors. These are all bad growth momentum indicators. These are negative signals for investors interested in growth companies. Value is likely good for this company, as investors may have left this stock in the cold. If that is the case, investors should look at the company's outlook, especially Sentiment performance, because it may be a turnaround situation that could entail above-average stock returns in the future. But it remains a risky bet, as no growth signals are in the green zone yet. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is low here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	40	18	34	34
PROFIT GROWTH
PROFIT GROWTH	80	42	54	48
CAPITAL GROWTH
CAPITAL GROWTH	19	43	5	39
STOCK RETURNS
STOCK RETURNS	91	45	79	27
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	57	23	33	22

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Nedbank Group.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 84 (better than 84% compared with alternatives) for 2025, the company Nedbank Group has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Nedbank Group is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, where all three are above average for Nedbank Group. Leverage is at 68, meaning the company has a below-average debt-to-equity ratio. It has less debt than 68% of its competitors. Refinancing is at a rank of 61, meaning that the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 61% of its competitors. Finally, Liquidity is also good at a rank of 51, which means that the company generates more profit to service its debt than 51% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 84 (better than 84% compared with alternatives), Nedbank Group has a financing structure that is significantly safer than that of its competitors. These three positive financing indicators signal that the company is less likely to default on its debt obligations. However, it also means that its shareholder returns will be more modest if things go well. A low safety means fewer troubles in downtimes and less upside in good times. Investors may not have a debt issue with Nedbank Group but they should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	24	50	60	68
REFINANCING
REFINANCING	52	47	56	61
LIQUIDITY
LIQUIDITY	27	44	33	51
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	11	35	38	84

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Nedbank Group and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	70	45	^new
OPINIONS CHANGE
OPINIONS CHANGE	18	16	59	^new
PRO HOLDINGS
PRO HOLDINGS	21	37	73	^new
MARKET PULSE
MARKET PULSE	20	56	43	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	5	41	67	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Nedbank Group.
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