Spear REIT (JSE:SEA) Change In Receivables: R6.0 Mil (TTM As of Feb. 2026)

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JSE:SEA Spear REIT Ltd JSE:SEA
67 GF Score
Price R13.00
GF Value R6.69
Valuation Significantly Overvalued
! 12 Warning Signs
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What is Spear REIT Change In Receivables?

Spear REIT JSE:SEA -1.59% 67 Change In Receivables is R6.0 Mil as of Feb. 2026. GuruFocus rates JSE:SEA with a GF Score™ of 67/100 and a GF Value™ of R6.69 (Significantly Overvalued). The stock has 12 warning signs investors should review.

Spear REIT's change in receivables for the quarter that ended in Feb. 2026 was R7.3 Mil. It means Spear REIT's Accounts Receivable declined by R7.3 Mil from Aug. 2025 to Feb. 2026 .

Spear REIT's change in receivables for the fiscal year that ended in Feb. 2026 was R6.0 Mil. It means Spear REIT's Accounts Receivable declined by R6.0 Mil from Feb. 2025 to Feb. 2026 .

Spear REIT's Accounts Receivable for the quarter that ended in Feb. 2026 was R8.9 Mil.

Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's Accounts Receivable are being managed. Spear REIT's Days Sales Outstanding for the six months ended in Feb. 2026 was 3.55.

In Ben Graham's calculation of liquidation value, Apple Inc's Accounts Receivable are only considered to be worth 75% of book value. Spear REIT's liquidation value for the six months ended in Feb. 2026 was R-1,741.2 Mil.

Spear REIT  (JSE:SEA) Change In Receivables Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's Accounts Receivable are being managed.

Spear REIT's Days Sales Outstanding for the quarter that ended in Feb. 2026 is calculated as:

Days Sales Outstanding
=Accounts Receivable/Revenue*Days in Period
=8.885/457.032*91
=3.55

2. In Ben Graham's calculation of liquidation value, Spear REIT's accounts receivable are only considered to be worth 75% of book value:

Spear REIT's liquidation value for the quarter that ended in Feb. 2026 is calculated as:

Liquidation Value
=Cash, Cash Equivalents, Marketable Securities-Total Liabilities+(0.75 * Accounts Receivable)+(0.5 * Total Inventories)
=393.786-2194.476+0.75 * 8.885+0.5 * 105.64
=-1,741.2

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Spear REIT Change In Receivables Related Terms

Spear REIT Change In Receivables Historical Data

* Premium members only.

The historical data trend for Spear REIT's Change In Receivables can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Spear REIT Change In Receivables Chart

Spear REIT Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Change In Receivables
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.98 -2.36 -5.04 6.58 5.95

Spear REIT Semi-Annual Data
Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
Change In Receivables Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -5.27 -2.14 8.72 -1.37 7.33
JSE:SEA
67GF Score
Spear REIT Ltd JSE:SEA
Change In Receivables is just one metric. See GF Score™, valuation, warning signs, and more.
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Spear REIT Change In Receivables Calculation

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.

Change In Receivables for the trailing twelve months (TTM) ended in Feb. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was R6.0 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Change In Receivables →
What does a Change In Receivables of R6.0 Mil mean?
Spear REIT (JSE:SEA) has a Change In Receivables of R6.0 Mil as of Feb. 2026. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for Spear REIT and its competitors.
Is Spear REIT's Change In Receivables too high?
Spear REIT's current Change In Receivables is R6.0 Mil. Overall, Spear REIT has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Spear REIT's Change In Receivables compare to VICI and WPC?
Spear REIT's Change In Receivables of R6.0 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Change In Receivables for a REITs company?
A good Change In Receivables depends on the REITs industry context. However, Change In Receivables should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Change In Receivables mean?
A high Change In Receivables can signal that a stock is expensive relative to its fundamentals. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for Spear REIT and its competitors. Spear REIT's current Change In Receivables is R6.0 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spear REIT stock overvalued right now?
Based on GuruFocus' analysis, Spear REIT (JSE:SEA) is currently considered Significantly Overvalued. The stock's GF Value™ is R6.69, compared to a current price of R13.00 — trading 94.3% above its estimated fair value. The current Change In Receivables is R6.0 Mil. Spear REIT's overall GF Score™ is 67/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Change In Receivables calculated?
Change In Receivables is calculated from a company's financial statements. For Spear REIT (JSE:SEA), the current Change In Receivables is R6.0 Mil as of Feb. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Spear REIT (JSE:SEA) Overvalued in 2026?

Based on GuruFocus' analysis, Spear REIT stock appears to be overvalued. The current stock price of R13.00 is trading 94.3% above its estimated GF Value™ of R6.69. GuruFocus considers Spear REIT to be Significantly Overvalued.

Key valuation signals for JSE:SEA:

  • Change In Receivables: R6.0 Mil
  • GF Value™: R6.69 vs. price of R13.00 (94.3% above fair value)
  • GF Score™: 67/100 with 12 warning signs

No single metric tells the full story. See the JSE:SEA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Spear REIT Business Description

Industry Real EstateREITs
Address 2 Long Street, PO Box 50, 16th Floor, Observatory, 7935, Cape Town, ZAF, 8001
Spear REIT Ltd is a real estate investment trust. The company has five segments Industrial, Commercial, Retail, Development, and Non-property. The company generates majority of revenue from Industrial segment. The industrial portfolio comprises a diverse range of multi-let industrial properties, warehouses, logistics parks, and urban logistics facilities. The company has presence in Cape.
67GF Score

Get the complete analysis for JSE:SEA

Change In Receivables is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R13.00
Price
R6.69
GF Value