Spar GroupJSE:SPP -3.11%52 PB Ratio is 1.74 as of Jun. 25, 2026, which is 61% below its 10-year median of 4.44. GuruFocus rates JSE:SPP with a GF Score™ of 52/100 and a GF Value™ of R107.89 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 306 Retail - Defensive companies, Spar Group ranks worse than 51.63% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-25), Spar Group's share price is R48.84. Spar Group's Book Value per Share for the quarter that ended in Mar. 2026 was R28.05. Hence, Spar Group's PB Ratio of today is 1.74.
Good Sign:
Spar Group Ltd stock PB Ratio (=1.89) is close to 2-year low of 1.77.
The historical rank and industry rank for Spar Group's PB Ratio or its related term are showing as below:
JSE:SPP'
s PB Ratio Range Over the Past 10 Years
Min: 1.63 Med: 4.44 Max: 11.08
Current: 1.73
During the past 13 years, Spar Group's highest PB Ratio was 11.08. The lowest was 1.63. And the median was 4.44.
JSE:SPP's PB Ratio is ranked worse than 51.63% of 306
companies
in the Retail - Defensive industry
Industry Median: 1.655
vs JSE:SPP: 1.73
During the past 12 months, Spar Group's average Book Value Per Share Growth Rate was -17.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -18.40% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -3.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 5.90% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Spar Group was 29.40% per year. The lowest was -18.40% per year. And the median was 11.40% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Spar Group PB Ratio Related Terms
Spar Group PB Ratio Historical Data
* Premium members only.
The historical data trend for Spar Group's PB Ratio 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 Food Distribution subindustry, Spar Group's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Spar Group's PB Ratio distribution charts can be found below:
* The bar in red indicates where Spar Group's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Spar Group's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Spar Group (JSE:SPP) has a PB Ratio of 1.74 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Spar Group and its competitors. This is 61% below median its historical median of 4.44. Over the past decade, Spar Group's PB Ratio has ranged from 1.63 to 11.08. According to the industry distribution chart, Spar Group ranks #158 out of 306 companies in the Retail - Defensive industry, placing it in the top 51.6%.
Is Spar Group's PB Ratio too high?
Spar Group's current PB Ratio of 1.74 is 61% below median its 10-year median of 4.44. Over the past 10 years, this metric has ranged from a low of 1.63 to a high of 11.08. The Retail - Defensive industry median PB Ratio is 1.66. Spar Group's value of 1.74 is 5.1% above this industry median. Based on the distribution chart, Spar Group ranks #158 out of 306 companies in the Retail - Defensive industry, which is below 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 PB Ratio compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Spar Group ranks #158 out of 306 companies for PB Ratio. This places Spar Group in the lower half of its industry. The industry median PB Ratio is 1.66. Spar Group's value of 1.74 is 5.1% above this benchmark. Historically, Spar Group's own PB Ratio has ranged from 1.63 to 11.08 over the past decade. While the company's 10-year median is 4.44 vs. the industry median of 1.66, 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 PB Ratio for a Retail - Defensive company?
The median PB Ratio among Retail - Defensive companies is 1.66, based on 306 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spar Group's current PB Ratio of 1.74 is 5.1% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Spar Group and its competitors. For the Retail - Defensive industry, the median PB Ratio is 1.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spar Group's current PB Ratio is 1.74, which is 61% below median its own 10-year median of 4.44. 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 R107.89, compared to a current price of R48.84 — trading 54.7% below its estimated fair value. The current PB Ratio is 1.74, which is 61% below median its 10-year median of 4.44 and 5.1% above the Retail - Defensive industry median of 1.66. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Spar Group (JSE:SPP), the current PB Ratio is 1.74 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 Spar Group (JSE:SPP) Overvalued in 2026?
Based on GuruFocus' analysis, Spar Group stock appears to be undervalued.
The current stock price of R48.84 is trading 54.7% below its estimated GF Value™ of R107.89.
GuruFocus considers Spar Group to be Significantly Undervalued.
Key valuation signals for JSE:SPP:
PB Ratio: 1.74 (61% below median its 10-year median of 4.44)
GF Value™: R107.89 vs. price of R48.84 (54.7% below fair value)
Industry Position: 5.1% above the Retail - Defensive median (#158 of 306)
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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