Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. This ratio does not apply to banks.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. This ratio does not apply to banks.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, Firstrand's Enterprise Value is R383,351 Mil.
Firstrand's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was R155,399 Mil. Therefore, Firstrand's EV-to-Revenue ratio for today is 2.47.
EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, Firstrand's Enterprise Value is R383,351 Mil.
Firstrand's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was R9,524 Mil. Therefore, Firstrand's EV-to-FCF ratio for today is 40.25.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
Firstrand (NAM:FST) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
Firstrand's current Enterprise Value is R383,351 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Firstrand's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was R155,399 Mil.
Firstrand's current Enterprise Value is R383,351 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Firstrand's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was R18,700 Mil.
Firstrand's current Enterprise Value is R383,351 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. Firstrand's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was R9,524 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.
Firstrand Enterprise Value Related Terms
Firstrand Enterprise Value Historical Data
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The historical data trend for Firstrand's Enterprise Value 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.
NAM:FST vs JPM, BAC, WFC: Enterprise Value Comparison
For the Banks - Diversified subindustry, Firstrand's Enterprise Value, along with its competitors' market caps and Enterprise Value 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.
Firstrand Enterprise Value vs Banks Industry
For the Banks industry and Financial Services sector, Firstrand's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Firstrand's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Firstrand's Enterprise Value for the fiscal year that ended in Jun. 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.
What does a Enterprise Value of R383,351 Mil mean?
Firstrand (NAM:FST) has a Enterprise Value of R383,351 Mil as of Jun. 25, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Firstrand and its competitors.
Is Firstrand's Enterprise Value too high?
Firstrand's current Enterprise Value is R383,351 Mil. Overall, Firstrand has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Firstrand's Enterprise Value compare to JPM and BAC?
Firstrand's Enterprise Value of R383,351 Mil can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for a Banks company?
A good Enterprise Value depends on the Banks industry context. However, Enterprise Value 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 Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Firstrand and its competitors. Firstrand's current Enterprise Value is R383,351 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Firstrand stock overvalued right now?
Based on GuruFocus' analysis, Firstrand (NAM:FST) is currently considered Modestly Overvalued. The stock's GF Value™ is R84.35, compared to a current price of R96.23 — trading 14.1% above its estimated fair value. The current Enterprise Value is R383,351 Mil. Firstrand's overall GF Score™ is 85/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For Firstrand (NAM:FST), the current Enterprise Value is R383,351 Mil as of Jun. 25, 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 Firstrand (NAM:FST) Overvalued in 2026?
Based on GuruFocus' analysis, Firstrand stock appears to be overvalued.
The current stock price of R96.23 is trading 14.1% above its estimated GF Value™ of R84.35.
GuruFocus considers Firstrand to be Modestly Overvalued.
Key valuation signals for NAM:FST:
Enterprise Value: R383,351 Mil
GF Value™: R84.35 vs. price of R96.23 (14.1% above fair value)
No single metric tells the full story. See the NAM:FST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Firstrand Ltd wholly owns FirstRand Bank, a full-service bank providing a comprehensive range of retail, commercial, corporate and investment banking services in South Africa and offers niche products. The bank has three divisions, which are separately branded: First National Bank (FNB), WesBank and Rand Merchant Bank (RMB). The firm's reportable segment includes Retail and commercial segment, Corporate and institutional segment, Centre (including group treasury), Firstrand Bank Normalised, and Normalised adjustments.
85GF Score
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