Spar GroupJSE:SPP +1.11%52 Days Payable is 57.85 as of Mar. 2026, which is 21% above its 10-year median of 47.67. GuruFocus rates JSE:SPP with a GF Score™ of 52/100 and a GF Value™ of R107.93 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 302 Retail - Defensive companies, Spar Group ranks better than 72.52% on this metric.
Spar Group's average Accounts Payable for the
six
months ended in Mar. 2026 was R19,137 Mil. Spar Group's Cost of Goods Sold for the
six
months ended in Mar. 2026 was R60,371 Mil.
Hence, Spar Group's Days Payable for the
six
months ended in Mar. 2026 was 57.85.
The historical rank and industry rank for Spar Group's Days Payable or its related term are showing as below:
JSE:SPP'
s Days Payable Range Over the Past 10 Years
Min: 43.39 Med: 47.67 Max: 60.33
Current: 60.33
During the past 13 years, Spar Group's highest Days Payable was 60.33. The lowest was 43.39. And the median was 47.67.
JSE:SPP's Days Payable is ranked better than 72.52% of 302
companies
in the Retail - Defensive industry
Industry Median: 43.205
vs JSE:SPP: 60.33
Spar Group's Days Payable
declined
from Mar. 2025 (59.30) to Mar. 2026 (57.85).
It may suggest that Spar Groupaccelerated paying its suppliers.
Spar Group Days Payable Related Terms
Spar Group Days Payable Historical Data
* Premium members only.
The historical data trend for Spar Group'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.
JSE:SPP vs SYY, USFD, PFGC: Days Payable Comparison
For the Food Distribution subindustry, Spar Group'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.
Spar Group Days Payable vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Spar Group's Days Payable distribution charts can be found below:
* The bar in red indicates where Spar Group'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.
Spar Group's Days Payable for the fiscal year that ended in Sep. 2025 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.
Spar Group (JSE:SPP) has a Days Payable of 57.85 as of Mar. 2026. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Spar Group and its competitors. This is 21% above median its historical median of 47.67. Over the past decade, Spar Group's Days Payable has ranged from 43.39 to 60.33. According to the industry distribution chart, Spar Group ranks #83 out of 302 companies in the Retail - Defensive industry, placing it in the top 27.5%.
Is Spar Group's Days Payable too high?
Spar Group's current Days Payable of 57.85 is 21% above median its 10-year median of 47.67. Over the past 10 years, this metric has ranged from a low of 43.39 to a high of 60.33. The Retail - Defensive industry median Days Payable is 43.21. Spar Group's value of 57.85 is 33.9% above this industry median. Based on the distribution chart, Spar Group ranks #83 out of 302 companies in the Retail - Defensive industry, which is above the industry midpoint. Overall, Spar Group has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spar Group's Days Payable compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Spar Group ranks #83 out of 302 companies for Days Payable. This puts Spar Group in the upper half of its industry. The industry median Days Payable is 43.21. Spar Group's value of 57.85 is 33.9% above this benchmark. Historically, Spar Group's own Days Payable has ranged from 43.39 to 60.33 over the past decade. While the company's 10-year median is 47.67 vs. the industry median of 43.21, Spar Group has consistently been above 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 Retail - Defensive company?
The median Days Payable among Retail - Defensive companies is 43.21, based on 302 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. Spar Group's current Days Payable of 57.85 is 33.9% above 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 Spar Group and its competitors. For the Retail - Defensive industry, the median Days Payable is 43.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spar Group's current Days Payable is 57.85, which is 21% above median its own 10-year median of 47.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spar Group stock overvalued right now?
Based on GuruFocus' analysis, Spar Group (JSE:SPP) is currently considered Significantly Undervalued. The stock's GF Value™ is R107.93, compared to a current price of R46.29 — trading 57.1% below its estimated fair value. The current Days Payable is 57.85, which is 21% above median its 10-year median of 47.67 and 33.9% above the Retail - Defensive industry median of 43.21. Spar Group's overall GF Score™ is 52/100 with 3 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 Spar Group (JSE:SPP), the current Days Payable is 57.85 as of Mar. 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 Spar Group (JSE:SPP) Overvalued in 2026?
Based on GuruFocus' analysis, Spar Group stock appears to be undervalued.
The current stock price of R46.29 is trading 57.1% below its estimated GF Value™ of R107.93.
GuruFocus considers Spar Group to be Significantly Undervalued.
Key valuation signals for JSE:SPP:
Days Payable: 57.85 (21% above median its 10-year median of 47.67)
GF Value™: R107.93 vs. price of R46.29 (57.1% below fair value)
Industry Position: 33.9% above the Retail - Defensive median (#83 of 302)
No single metric tells the full story. See the JSE:SPP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spar Group Ltd operates as a wholesaler and distributor of goods and services to SPAR grocery stores and multiple other branded group retail outlets across multiple regions. It supplies fresh produce and merchandise to a network of independent retailers who operate under its brands like TOPS at SPAR, Build it, SPAR Health, and Encore. The company's revenue mainly comprise the revenue from the sale of merchandise, marketing and promotional activities as well as franchise fees. Geographically, it has a presence in Southern Africa, Ireland and South West England, Switzerland, Poland and Sri Lanka, with the majority of revenue generated from South Africa.
52GF Score
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