Spar Group (JSE:SPP) ROCE %: 10.66% (As of Mar. 2026)


JSE:SPP Spar Group Ltd JSE:SPP
52 GF Score
Price R48.84
GF Value R107.89
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Spar Group ROCE %?

Spar Group JSE:SPP -3.11% 52 ROCE % is 10.66% as of Mar. 2026. 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.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Spar Group's annualized ROCE % for the quarter that ended in Mar. 2026 was 10.66%.

Spar Group  (JSE:SPP) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Spar Group ROCE % Related Terms

Spar Group ROCE % Historical Data

* Premium members only.

The historical data trend for Spar Group's ROCE % 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.

Spar Group ROCE % Chart

Spar Group Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13.95 13.46 9.78 10.81 10.88

Spar Group Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 11.27 10.59 13.57 9.23 10.66
JSE:SPP
52GF Score
Spar Group Ltd JSE:SPP
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Spar Group ROCE % Calculation

Spar Group's annualized ROCE % for the fiscal year that ended in Sep. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Sep. 2025 )  (A: Sep. 2024 )(A: Sep. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Sep. 2025 )  (A: Sep. 2024 )(A: Sep. 2025 )
=2591.9/( ( (58642 - 30432.5) + (46221.4 - 26797.2) )/ 2 )
=2591.9/( (28209.5+19424.2)/ 2 )
=2591.9/23816.85
=10.88 %

Spar Group's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Sep. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Sep. 2025 )(Q: Mar. 2026 )
=2061/( ( (46221.4 - 26797.2) + (44848.2 - 25603.6) )/ 2 )
=2061/( ( 19424.2 + 19244.6 )/ 2 )
=2061/19334.4
=10.66 %

(1) Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 10.66% mean?
Spar Group (JSE:SPP) has a ROCE % of 10.66% as of Mar. 2026.
Is Spar Group's ROCE % too high?
Spar Group's current ROCE % is 10.66%. The Retail - Defensive industry median ROCE % is 8.98. Spar Group's value of 10.66% is 18.7% above this industry median. 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 ROCE % compare to SYY and USFD?
Spar Group's ROCE % of 10.66% can be compared against companies in the Retail - Defensive industry. The industry median ROCE % is 8.98. Spar Group's value of 10.66% is 18.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Retail - Defensive company?
The median ROCE % among Retail - Defensive companies is 8.98, based on 307 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spar Group's current ROCE % of 10.66% is 18.7% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Retail - Defensive industry, the median ROCE % is 8.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spar Group's current ROCE % is 10.66%. 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 ROCE % is 10.66% and 18.7% above the Retail - Defensive industry median of 8.98. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Spar Group (JSE:SPP), the current ROCE % is 10.66% as of Mar. 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:

  • ROCE %: 10.66%
  • GF Value™: R107.89 vs. price of R48.84 (54.7% below fair value)
  • GF Score™: 52/100 with 3 warning signs
  • Industry Position: 18.7% above the Retail - Defensive median

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 Business Description

Other Exchanges SGPPY:USA
Address 1 Ncondo Place, The Umhlanga Arch, Umhlanga Ridge, Durban, NL, ZAF, 4001
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

Get the complete analysis for JSE:SPP

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R48.84
Price
R107.89
GF Value