Spear REITJSE:SEA +0.61%63 PS Ratio is 6.03 as of Jul. 08, 2026, which is 70% above its 10-year median of 3.55. GuruFocus rates JSE:SEA with a GF Score™ of 63/100 and a GF Value™ of R6.95 (Significantly Overvalued). The stock has 12 warning signs investors should review. Among 914 REITs companies, Spear REIT ranks better than 57.22% on this metric.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. As of today, Spear REIT's share price is R13.25.
Spear REIT's Revenue per Share for the trailing twelve months (TTM) ended in Feb. 2026 was R2.20. Hence, Spear REIT's PS Ratio for today is 6.03.
Warning Sign:
Spear REIT Ltd stock PS Ratio (=6.03) is close to 10-year high of 6.22.
The historical rank and industry rank for Spear REIT's PS Ratio or its related term are showing as below:
JSE:SEA'
s PS Ratio Range Over the Past 10 Years
Min: 1.91 Med: 3.55 Max: 6.22
Current: 6.03
During the past 10 years, Spear REIT's highest PS Ratio was 6.22. The lowest was 1.91. And the median was 3.55.
JSE:SEA's PS Ratio is ranked better than 57.22% of 914
companies
in the REITs industry
Industry Median: 6.72
vs JSE:SEA: 6.03
Spear REIT Ltd revenue per share has been in decline for the last 5 years.
During the past 12 months, the average Revenue per Share Growth Rate of Spear REIT was -6.80% per year.
During the past 3 years, the average Revenue per Share Growth Rate was -3.70% per year.
During the past 5 years, the average Revenue per Share Growth Rate was -2.90% per year.
During the past 10 years, Spear REIT's highest 3-Year average Revenue per Share Growth Rate was 5.80% per year. The lowest was -3.90% per year. And the median was 1.80% per year.
Back to Basics: PS Ratio
Spear REIT (JSE:SEA) PS Ratio Explanation
The PS Ratio is an excellent valuation indicator if you want to compare a stock with its historical valuation or with the stocks in the same industry. The PS Ratio works especially well when you want to compare the stock's current valuation with its historical valuation. The PS Ratio is a great valuation tool for evaluating cyclical businesses where the PE Ratio works poorly. It works the best when comparing the current valuation with the historical valuation because over time, a company's profit margin tends to revert to the mean.
When the PS Ratio is applied to the whole stock market, it can be used to evaluate the current market valuation and projected returns. In this case, the price is the total market cap of all stocks that are traded, and sales are the GDP of the country. This is how Warren Buffett estimates the broad market valuation and project future returns.
The PS Ratio does not tell you how cheap or expensive the stock is. It cannot be used to compare companies in different industries. It works better for companies within the same industry because these companies tend to have similar capital structures and profit margins. It works the best when comparing a company with itself in the past.
Spear REIT PS Ratio Related Terms
Spear REIT PS Ratio Historical Data
* Premium members only.
The historical data trend for Spear REIT's PS 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 REIT - Diversified subindustry, Spear REIT's PS Ratio, along with its competitors' market caps and PS 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.
Spear REIT PS Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Spear REIT's PS Ratio distribution charts can be found below:
* The bar in red indicates where Spear REIT's PS Ratio falls into.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. It is a ratio widely used to value stocks and it was first used by Ken Fisher.
Spear REIT's Share Price of today is R13.25.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Spear REIT's Revenue per Share for the trailing twelve months (TTM) ended in Feb. 2026 was R2.20.
* 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:
Spear REIT (JSE:SEA) has a PS Ratio of 6.03 as of Jul. 08, 2026. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Spear REIT and its competitors. This is 70% above median its historical median of 3.55. Over the past decade, Spear REIT's PS Ratio has ranged from 1.91 to 6.22. According to the industry distribution chart, Spear REIT ranks #391 out of 914 companies in the REITs industry, placing it in the top 42.8%.
Is Spear REIT's PS Ratio too high?
Spear REIT's current PS Ratio of 6.03 is 70% above median its 10-year median of 3.55. Over the past 10 years, this metric has ranged from a low of 1.91 to a high of 6.22. The REITs industry median PS Ratio is 6.72. Spear REIT's value of 6.03 is 10.3% below this industry median. Based on the distribution chart, Spear REIT ranks #391 out of 914 companies in the REITs industry, which is above the industry midpoint. Overall, Spear REIT has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Spear REIT's PS Ratio compare to VICI and WPC?
According to the REITs industry distribution chart, Spear REIT ranks #391 out of 914 companies for PS Ratio. This puts Spear REIT in the upper half of its industry. The industry median PS Ratio is 6.72. Spear REIT's value of 6.03 is 10.3% below this benchmark. Historically, Spear REIT's own PS Ratio has ranged from 1.91 to 6.22 over the past decade. While the company's 10-year median is 3.55 vs. the industry median of 6.72, Spear REIT has consistently been below 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 PS Ratio for a REITs company?
The median PS Ratio among REITs companies is 6.72, based on 914 companies in the industry. Companies in the top quartile (top 25%) have a PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spear REIT's current PS Ratio of 6.03 is 10.3% below 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 PS Ratio mean?
A high PS Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Spear REIT and its competitors. For the REITs industry, the median PS Ratio is 6.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spear REIT's current PS Ratio is 6.03, which is 70% above median its own 10-year median of 3.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spear REIT stock overvalued right now?
Based on GuruFocus' analysis, Spear REIT (JSE:SEA) is currently considered Significantly Overvalued. The stock's GF Value™ is R6.95, compared to a current price of R13.25 — trading 90.6% above its estimated fair value. The current PS Ratio is 6.03, which is 70% above median its 10-year median of 3.55 and 10.3% below the REITs industry median of 6.72. Spear REIT's overall GF Score™ is 63/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PS Ratio calculated?
PS Ratio is calculated from a company's financial statements. For Spear REIT (JSE:SEA), the current PS Ratio is 6.03 as of Jul. 08, 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 Spear REIT (JSE:SEA) Overvalued in 2026?
Based on GuruFocus' analysis, Spear REIT stock appears to be overvalued.
The current stock price of R13.25 is trading 90.6% above its estimated GF Value™ of R6.95.
GuruFocus considers Spear REIT to be Significantly Overvalued.
Key valuation signals for JSE:SEA:
PS Ratio: 6.03 (70% above median its 10-year median of 3.55)
GF Value™: R6.95 vs. price of R13.25 (90.6% above fair value)
Industry Position: 10.3% below the REITs median (#391 of 914)
No single metric tells the full story. See the JSE:SEA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spear REIT Ltd is a real estate investment trust. The company has five segments Industrial, Commercial, Retail, Development, and Non-property. The company generates majority of revenue from Industrial segment. The industrial portfolio comprises a diverse range of multi-let industrial properties, warehouses, logistics parks, and urban logistics facilities. The company has presence in Cape.
63GF Score
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