SantamJSE:SNT +0.77%72 Net Margin % is 11.83% as of Dec. 2025, which is 42% above its 10-year median of 8.34. GuruFocus rates JSE:SNT with a GF Score™ of 72/100 and a GF Value™ of R468.04 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 506 Insurance companies, Santam ranks better than 50.2% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Santam's Net Income for the
six
months ended in Dec. 2025 was R2,014 Mil. Santam's Revenue for the
six
months ended in Dec. 2025 was R17,023 Mil. Therefore, Santam's net margin for the quarter that ended in Dec. 2025 was 11.83%.
The historical rank and industry rank for Santam's Net Margin % or its related term are showing as below:
JSE:SNT'
s Net Margin % Range Over the Past 10 Years
Min: 1.15 Med: 8.34 Max: 9.31
Current: 9.31
JSE:SNT's Net Margin % is ranked better than 50.2% of 506
companies
in the Insurance industry
Industry Median: 9.275
vs JSE:SNT: 9.31
Santam (JSE:SNT) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Santam Net Margin % Related Terms
Santam Net Margin % Historical Data
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The historical data trend for Santam's Net Margin % 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 Insurance - Specialty subindustry, Santam's Net Margin %, along with its competitors' market caps and Net Margin % 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.
Santam Net Margin % vs Insurance Industry
For the Insurance industry and Financial Services sector, Santam's Net Margin % distribution charts can be found below:
* The bar in red indicates where Santam's Net Margin % falls into.
* 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.
Santam (JSE:SNT) has a Net Margin % of 11.83% as of Dec. 2025. Net margin is the ratio of total net income to net sales. View historical data on Santam and its competitors. This is 42% above median its historical median of 8.34. Over the past decade, Santam's Net Margin % has ranged from 1.15 to 9.31. According to the industry distribution chart, Santam ranks #252 out of 506 companies in the Insurance industry, placing it in the top 49.8%.
Is Santam's Net Margin % too high?
Santam's current Net Margin % of 11.83% is 42% above median its 10-year median of 8.34. Over the past 10 years, this metric has ranged from a low of 1.15 to a high of 9.31. The Insurance industry median Net Margin % is 9.28. Santam's value of 11.83% is 27.5% above this industry median. Based on the distribution chart, Santam ranks #252 out of 506 companies in the Insurance industry, which is above the industry midpoint. Overall, Santam has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Santam's Net Margin % compare to FNF and AXS?
According to the Insurance industry distribution chart, Santam ranks #252 out of 506 companies for Net Margin %. This puts Santam in the upper half of its industry. The industry median Net Margin % is 9.28. Santam's value of 11.83% is 27.5% above this benchmark. Historically, Santam's own Net Margin % has ranged from 1.15 to 9.31 over the past decade. While the company's 10-year median is 8.34 vs. the industry median of 9.28, Santam 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 Net Margin % for an Insurance company?
The median Net Margin % among Insurance companies is 9.28, based on 506 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Santam's current Net Margin % of 11.83% is 27.5% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Santam and its competitors. For the Insurance industry, the median Net Margin % is 9.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Santam's current Net Margin % is 11.83%, which is 42% above median its own 10-year median of 8.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Santam stock overvalued right now?
Based on GuruFocus' analysis, Santam (JSE:SNT) is currently considered Modestly Undervalued. The stock's GF Value™ is R468.04, compared to a current price of R390.45 — trading 16.6% below its estimated fair value. The current Net Margin % is 11.83%, which is 42% above median its 10-year median of 8.34 and 27.5% above the Insurance industry median of 9.28. Santam's overall GF Score™ is 72/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Santam (JSE:SNT), the current Net Margin % is 11.83% as of Dec. 2025. 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 Santam (JSE:SNT) Overvalued in 2026?
Based on GuruFocus' analysis, Santam stock appears to be undervalued.
The current stock price of R390.45 is trading 16.6% below its estimated GF Value™ of R468.04.
GuruFocus considers Santam to be Modestly Undervalued.
Key valuation signals for JSE:SNT:
Net Margin %: 11.83% (42% above median its 10-year median of 8.34)
GF Value™: R468.04 vs. price of R390.45 (16.6% below fair value)
Industry Position: 27.5% above the Insurance median (#252 of 506)
No single metric tells the full story. See the JSE:SNT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Santam Ltd is a South African general insurance group. The company offers a range of policies against eventualities such as property damage, motor accidents, loss of income, crop losses, and catastrophe events, as well as reinsurance. The company helps mitigate risk to protect and grow financial well-being, and clients' insured losses are paid out of invested premiums.
72GF Score
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