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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Afrimat's retained earnings for the quarter that ended in Feb. 2026 was R3,766 Mil.
Afrimat's quarterly retained earnings
increased
from Feb. 2025 (R3,699 Mil) to Aug. 2025 (R3,832 Mil) but then
declined
from Aug. 2025 (R3,832 Mil) to Feb. 2026 (R3,766 Mil).
Afrimat's annual retained earnings
declined
from Feb. 2024 (R3,816 Mil) to Feb. 2025 (R3,699 Mil) but then
increased
from Feb. 2025 (R3,699 Mil) to Feb. 2026 (R3,766 Mil).
Afrimat (JSE:AFT) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Afrimat Retained Earnings Historical Data
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The historical data trend for Afrimat's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
Afrimat (JSE:AFT) has a Retained Earnings of R3,766 Mil as of Feb. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Afrimat and its competitors.
Is Afrimat's Retained Earnings too high?
Afrimat's current Retained Earnings is R3,766 Mil. Overall, Afrimat has a GF Score™ of 71/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Afrimat's Retained Earnings compare to CRH and VMC?
Afrimat's Retained Earnings of R3,766 Mil can be compared against companies in the Building Materials industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Building Materials company?
A good Retained Earnings depends on the Building Materials industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Afrimat and its competitors. Afrimat's current Retained Earnings is R3,766 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Afrimat stock overvalued right now?
Based on GuruFocus' analysis, Afrimat (JSE:AFT) is currently considered Significantly Undervalued. The stock's GF Value™ is R98.72, compared to a current price of R27.47 — trading 72.2% below its estimated fair value. The current Retained Earnings is R3,766 Mil. Afrimat's overall GF Score™ is 71/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Afrimat (JSE:AFT), the current Retained Earnings is R3,766 Mil as of Feb. 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 Afrimat (JSE:AFT) Overvalued in 2026?
Based on GuruFocus' analysis, Afrimat stock appears to be undervalued.
The current stock price of R27.47 is trading 72.2% below its estimated GF Value™ of R98.72.
GuruFocus considers Afrimat to be Significantly Undervalued.
Key valuation signals for JSE:AFT:
Retained Earnings: R3,766 Mil
GF Value™: R98.72 vs. price of R27.47 (72.2% below fair value)
No single metric tells the full story. See the JSE:AFT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Afrimat Ltd is a South Africa-based company. It has five segment Construction Materials, Industrial Minerals, Bulk Commodities, Future Materials and Metals, and Services. The company generates majority of revenue from Construction Materials comprises two distinct product segments: Aggregates and Cement. Aggregates include the sale of sand, gravel, crushed stone, and concrete-based products. Concrete-based products are produced using rock, sand, water, cement, and readymix concrete are typically used in various construction applications. The segment also includes the processing and sale of fly-ash, a by-product used to enhance concrete performance. Cement consists of the manufacturing and supply of cement. The Group views the entire southern African region as a single geographical area.
71GF Score
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Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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