Spear Reit Ratios and Metrics

Market cap in millions ZAR. Fiscal year is March - February.

Millions ZAR. Fiscal year is Mar - Feb.

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jul '26 Jul 6, 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
Market Capitalization	5,484	5,161	2,593	1,863	1,666	1,990
Market Cap Growth	70.31%	99.03%	39.14%	11.87%	-16.30%	87.20%
Enterprise Value	7,144	5,979	3,631	3,658	3,448	4,152
Last Close Price	13.17	12.63	8.69	6.83	5.40	5.69
PE Ratio	6.39	6.45	4.94	5.14	9.14	12.07
PS Ratio	6.43	6.06	3.76	3.02	2.87	3.46
PB Ratio	1.02	0.96	0.66	0.61	0.64	0.74
P/OCF Ratio	13.84	13.03	8.52	8.97	7.91	12.39
EV/Sales Ratio	8.38	7.02	5.26	5.94	5.94	7.23
EV/EBITDA Ratio	15.23	12.75	9.35	10.16	10.22	12.50
EV/EBIT Ratio	15.80	13.22	9.74	10.62	10.70	13.04
Debt / Equity Ratio	0.38	0.38	0.41	0.49	0.60	0.67
Debt / EBITDA Ratio	4.35	4.35	4.10	4.17	4.64	5.37
Net Debt / Equity Ratio	0.31	0.31	0.39	0.48	0.59	0.66
Net Debt / EBITDA Ratio	3.51	3.51	3.91	4.10	4.58	5.29
Asset Turnover	0.13	0.13	0.13	0.14	0.13	0.13
Quick Ratio	1.57	1.57	0.14	0.13	0.08	0.58
Current Ratio	1.99	1.99	0.29	1.41	0.97	1.52
Return on Equity (ROE)	17.18%	17.18%	15.01%	12.76%	6.90%	6.51%
Return on Assets (ROA)	4.27%	4.27%	4.52%	4.82%	4.58%	4.37%
Return on Invested Capital (ROIC)	6.06%	6.95%	7.29%	7.84%	7.36%	6.95%
Earnings Yield	14.58%	15.50%	20.25%	19.47%	10.94%	8.29%
Dividend Yield	6.64%	6.82%	9.35%	11.54%	14.08%	11.99%
Payout Ratio	37.56%	37.56%	43.97%	47.39%	91.95%	76.98%
Buyback Yield / Dilution	-32.50%	-32.50%	-27.76%	2.82%	-8.87%	-4.13%
Total Shareholder Return	-25.86%	-25.68%	-18.41%	14.36%	5.21%	7.86%