Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
MASJSE:MSP -1.14%77 EV-to-OCF is 9.45 as of Aug. 23, 2026, which is 50% below its 10-year median of 18.93. GuruFocus rates JSE:MSP with a GF Score™ of 77/100 and a GF Value™ of R20.21 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,793 Real Estate companies, MAS ranks worse than 53.43% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, MAS's Enterprise Value is R20,474 Mil.
MAS's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was R2,166 Mil. Therefore, MAS's EV-to-OCF for today is 9.45.
The historical rank and industry rank for MAS's EV-to-OCF or its related term are showing as below:
JSE:MSP'
s EV-to-OCF Range Over the Past 10 Years
Min: 9.45 Med: 18.93 Max: 65.36
Current: 9.45
During the past 13 years, the highest EV-to-OCF of MAS was 65.36. The lowest was 9.45. And the median was 18.93.
JSE:MSP's EV-to-OCF is ranked worse than 53.43% of 1793
companies
in the Real Estate industry
Industry Median: 7.68
vs JSE:MSP: 9.45
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-08-23), MAS's stock price is R21.75.
MAS's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was R1.956. Therefore, MAS's PE Ratio (TTM) for today is 11.12.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
MAS's share price for today is R21.75.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. MAS's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was R1.956.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
MAS EV-to-OCF Related Terms
MAS EV-to-OCF Historical Data
* Premium members only.
The historical data trend for MAS's EV-to-OCF 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 Real Estate - Diversified subindustry, MAS's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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.
MAS EV-to-OCF vs Real Estate Industry
For the Real Estate industry and Real Estate sector, MAS's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where MAS's EV-to-OCF falls into.
MAS's current Enterprise Value is R20,474 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. MAS's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was R2,166 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.
MAS (JSE:MSP) has a EV-to-OCF of 9.45 as of Aug. 23, 2026. This is 50% below median its historical median of 18.93. Over the past decade, MAS's EV-to-OCF has ranged from 9.45 to 65.36. According to the industry distribution chart, MAS ranks #958 out of 1793 companies in the Real Estate industry, placing it in the top 53.4%.
Is MAS's EV-to-OCF too high?
MAS's current EV-to-OCF of 9.45 is 50% below median its 10-year median of 18.93. Over the past 10 years, this metric has ranged from a low of 9.45 to a high of 65.36. The Real Estate industry median EV-to-OCF is 7.68. MAS's value of 9.45 is 23% above this industry median. Based on the distribution chart, MAS ranks #958 out of 1793 companies in the Real Estate industry, which is below the industry midpoint. Overall, MAS has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does MAS's EV-to-OCF compare to competitors?
According to the Real Estate industry distribution chart, MAS ranks #958 out of 1793 companies for EV-to-OCF. This places MAS in the lower half of its industry. The industry median EV-to-OCF is 7.68. MAS's value of 9.45 is 23% above this benchmark. Historically, MAS's own EV-to-OCF has ranged from 9.45 to 65.36 over the past decade. While the company's 10-year median is 18.93 vs. the industry median of 7.68, MAS 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 EV-to-OCF for a Real Estate company?
The median EV-to-OCF among Real Estate companies is 7.68, based on 1,793 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MAS's current EV-to-OCF of 9.45 is 23% 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Real Estate industry, the median EV-to-OCF is 7.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MAS's current EV-to-OCF is 9.45, which is 50% below median its own 10-year median of 18.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MAS stock overvalued right now?
Based on GuruFocus' analysis, MAS (JSE:MSP) is currently considered Fairly Valued. The stock's GF Value™ is R20.21, compared to a current price of R21.75 — trading 7.6% above its estimated fair value. The current EV-to-OCF is 9.45, which is 50% below median its 10-year median of 18.93 and 23% above the Real Estate industry median of 7.68. MAS's overall GF Score™ is 77/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For MAS (JSE:MSP), the current EV-to-OCF is 9.45 as of Aug. 23, 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 MAS (JSE:MSP) Overvalued in 2026?
Based on GuruFocus' analysis, MAS stock appears to be overvalued.
The current stock price of R21.75 is trading 7.6% above its estimated GF Value™ of R20.21.
GuruFocus considers MAS to be Fairly Valued.
Key valuation signals for JSE:MSP:
EV-to-OCF: 9.45 (50% below median its 10-year median of 18.93)
GF Value™: R20.21 vs. price of R21.75 (7.6% above fair value)
Industry Position: 23% above the Real Estate median (#958 of 1793)
No single metric tells the full story. See the JSE:MSP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MAS PLC is a property investor. It owns income generating properties in Romania, Bulgaria, and Poland. The company acquires, develops, and manages retail, office, industrial, and hotel properties. The company's reportable segments are CEE direct assets (CEE), CEE development joint venture (DJV), WE direct assets (WE), and Corporate. Its key revenue is derived from the CEE direct assets (CEE) segment which includes income properties located in CEE fully owned and managed by the company. Geographically, the company derives maximum revenue from Romania, and the rest from Bulgaria, Poland, and Germany.
77GF Score
Get the complete analysis for JSE:MSP
EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
JSE:MSP has been successfully added to your 
