Spear Reit Limited (JSE:SEA)

South Africa · Delayed Price · Currency is ZAR · Price in ZAc

1,278.00

-7.00 (-0.54%)

Jul 27, 2026, 5:00 PM SAST

Spear Reit Financials Overview

Financials in millions ZAR. Fiscal year is March - February.

Millions ZAR. Fiscal year is Mar - Feb.

Revenue & Profits

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Revenue	852.32	852.32	690.35	616.21	580.15	574.56
Revenue Growth	9.80%	23.46%	12.03%	6.21%	0.97%	8.30%
Net Income	799.75	799.75	525.12	362.74	182.21	164.92
Earnings Per Share	2.06	2.06	1.79	1.58	0.77	0.76
EPS Growth	4.75%	14.94%	13.31%	104.85%	1.48%	198.82%

Revenue by Segment

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Industrial	367.88	367.88	290.06	230.85	188.35	188.16
Commercial	319.15	319.15	285.86	291.05	272.98	263.2
Retail	164.83	164.83	114.14	96.6	90.68	88.65
Development Land	0.02	0.02	-	0.07	-	-
Total	851.88	851.88	690.06	619.4	581.23	574.86

Cash & Debt

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Cash & Investments	392.72	392.72	73.86	25.05	19.53	29.21
Total Debt	2,040	2,040	1,593	1,501	1,566	1,785
Net Cash (Debt)	-1,647	-1,647	-1,519	-1,476	-1,546	-1,756
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-4.25	-4.25	-5.19	-6.44	-6.56	-8.11

Cash Flow & CapEx

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Operating Cash Flow	396.12	396.12	304.51	207.83	210.66	160.68
Free Cash Flow	396.12	396.12	304.51	207.83	210.66	160.68
Free Cash Flow Growth	10.89%	30.08%	46.52%	-1.35%	31.11%	-1.44%

Margins

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Operating Margin	53.06%	53.06%	54.01%	55.93%	55.54%	55.43%
Pretax Margin	94.30%	94.30%	77.12%	59.18%	31.84%	29.39%
Profit Margin	93.83%	93.83%	76.07%	58.87%	31.41%	28.70%

Dividends

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jul '26 Jul 28, 2026	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Dividend Per Share	0.862	0.862	0.813	0.789	0.760	0.682
Dividend Per Share Growth	6.02%	6.02%	3.06%	3.79%	11.33%	16.27%
Dividend Yield	6.71%	6.82%	9.35%	11.54%	14.08%	11.99%

Valuation

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jul '26 Jul 28, 2026	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
PE Ratio	6.20	6.45	4.94	5.14	9.14	12.07
PS Ratio	6.24	6.06	3.76	3.02	2.87	3.46