Spear REITJSE:SEA +0.45%63 Days Payable is 71.49 as of Feb. 2026, which is 194% above its 10-year median of 24.31. GuruFocus rates JSE:SEA with a GF Score™ of 63/100 and a GF Value™ of R7.00 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 548 REITs companies, Spear REIT ranks worse than 68.07% on this metric.
Spear REIT's average Accounts Payable for the
six
months ended in Feb. 2026 was R64.3 Mil. Spear REIT's Cost of Goods Sold for the
six
months ended in Feb. 2026 was R164.1 Mil.
Hence, Spear REIT's Days Payable for the
six
months ended in Feb. 2026 was 71.49.
The historical rank and industry rank for Spear REIT's Days Payable or its related term are showing as below:
JSE:SEA'
s Days Payable Range Over the Past 10 Years
Min: 13.36 Med: 24.31 Max: 178.47
Current: 56.67
During the past 10 years, Spear REIT's highest Days Payable was 178.47. The lowest was 13.36. And the median was 24.31.
JSE:SEA's Days Payable is ranked worse than 68.07% of 548
companies
in the REITs industry
Industry Median: 119.45
vs JSE:SEA: 56.67
Spear REIT's Days Payable
increased
from Feb. 2025 (69.98) to Feb. 2026 (71.49).
It may suggest that Spear REITdelayed paying its suppliers.
Spear REIT Days Payable Related Terms
Spear REIT Days Payable Historical Data
* Premium members only.
The historical data trend for Spear REIT's Days Payable 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.
For the REIT - Diversified subindustry, Spear REIT's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Spear REIT Days Payable vs REITs Industry
For the REITs industry and Real Estate sector, Spear REIT's Days Payable distribution charts can be found below:
* The bar in red indicates where Spear REIT's Days Payable falls into.
Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.
Spear REIT's Days Payable for the fiscal year that ended in Feb. 2026 is calculated as
* 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 (JSE:SEA) has a Days Payable of 71.49 as of Feb. 2026. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Spear REIT and its competitors. This is 194% above median its historical median of 24.31. Over the past decade, Spear REIT's Days Payable has ranged from 13.36 to 178.47. According to the industry distribution chart, Spear REIT ranks #373 out of 548 companies in the REITs industry, placing it in the top 68.1%.
Is Spear REIT's Days Payable too high?
Spear REIT's current Days Payable of 71.49 is 194% above median its 10-year median of 24.31. Over the past 10 years, this metric has ranged from a low of 13.36 to a high of 178.47. The REITs industry median Days Payable is 119.45. Spear REIT's value of 71.49 is 40.2% below this industry median. Based on the distribution chart, Spear REIT ranks #373 out of 548 companies in the REITs industry, which is below the industry midpoint. Overall, Spear REIT has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Spear REIT's Days Payable compare to VICI and WPC?
According to the REITs industry distribution chart, Spear REIT ranks #373 out of 548 companies for Days Payable. This places Spear REIT in the lower half of its industry. The industry median Days Payable is 119.45. Spear REIT's value of 71.49 is 40.2% below this benchmark. Historically, Spear REIT's own Days Payable has ranged from 13.36 to 178.47 over the past decade. While the company's 10-year median is 24.31 vs. the industry median of 119.45, Spear REIT has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for a REITs company?
The median Days Payable among REITs companies is 119.45, based on 548 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spear REIT's current Days Payable of 71.49 is 40.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Spear REIT and its competitors. For the REITs industry, the median Days Payable is 119.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spear REIT's current Days Payable is 71.49, which is 194% above median its own 10-year median of 24.31. 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 R7.00, compared to a current price of R13.26 — trading 89.4% above its estimated fair value. The current Days Payable is 71.49, which is 194% above median its 10-year median of 24.31 and 40.2% below the REITs industry median of 119.45. Spear REIT's overall GF Score™ is 63/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For Spear REIT (JSE:SEA), the current Days Payable is 71.49 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 R13.26 is trading 89.4% above its estimated GF Value™ of R7.00.
GuruFocus considers Spear REIT to be Significantly Overvalued.
Key valuation signals for JSE:SEA:
Days Payable: 71.49 (194% above median its 10-year median of 24.31)
GF Value™: R7.00 vs. price of R13.26 (89.4% above fair value)
Industry Position: 40.2% below the REITs median (#373 of 548)
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 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.
63GF Score
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