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Clicks Group Ltd (CLCGY) Fair Value & Analysis

Healthcare · US · Market cap $3.3B · ISIN US18682W2052

What is Clicks Group Ltd really worth?

CG Clicks Group Ltd logo Clicks Group Ltd CLCGY · US
Price$25.63
Fair Value$35.03
Upside+36.7%
Quality74/100

A solid business, trading 27% below our fair value of $35.03.

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Strengths

Healthy Growth (revenue 5y +7.8 %/yr)
Low debt · generates free cash flow
Ranks above peers (11/11)

Risks

!Thin margins · 6.7% net margin
!Moderate moat 63/100
!Evidence only medium, so the estimate is less certain

For context

·3.70% dividend yield
Evidence: Medium Range $26.27 – $43.78

Fair value as of: Aug 29, 2026

From 26 valuation models · updated 6 days ago

Fair value updated Aug 29, 2026, revised from $35.14 to $35.03 (−0.3%) since Aug 13, 2026. Share price −4.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case ($26.27). The market is more pessimistic than our downside scenario.

Price vs Fair Value (5 years)

$44.57 $22.01 Fair Value $35.03 Oct 2020 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range $22.01 – $44.57 · fair‑value band $26.27 – $43.78 · the $25.63 price screens below the $35.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Clicks Group Ltd (CLCGY) currently trades at $25.63, while our model-based Fair Value estimate is $35.03, implying the stock looks roughly 26.8% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Healthcare sector. Bull case: the Earnings-Based group reads highest at a median of $246.68 per share, and 26 of the 26 models we run sit above the $25.63 price. Bear case: the Asset-Based group reads lowest at $39.17, and 0 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Clicks Group Ltd generated revenue of $49.5B at a net margin of 6.7%. Revenue grew 7.4% year over year. It earns a return on equity of 53.3%. Net debt stands at $3.5B. Fundamentals as of Aug 29, 2026

Our scenario range runs from $26.27 (bear case) to $43.78 (bull case); at $25.63, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 41% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −21% fair-value upside, at 37%, CLCGY screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence $434.71 $694.07 $1,100 79
Growth DCF $435.70 $682.14 $1,059 77
Owner Earnings $422.96 $674.82 $1,069 75
All 26 models by family
DCF Models
FCF DCF best evidence $434.71 $694.07 $1,100 79
Owner Earnings $422.96 $674.82 $1,069 75
5Y Revenue Exit $393.34 $630.04 $939.69 72
5Y EBITDA Exit $483.44 $806.76 $1,197 74
5Y P/E Exit $419.64 $681.63 $967.20 70
10Y Revenue Exit $393.30 $614.77 $929.45 66
10Y EBITDA Exit $461.49 $737.86 $1,130 67
10Y P/E Exit $420.96 $650.70 $950.90 63
Earnings-Based
Graham-Dodd $183.52 $706.70 $957.85 64
Lynch FV $172.67 $246.68 $320.68 61
PEG = 1.0 $172.67 $246.68 $320.68 57
EPV $291.69 $333.37 $369.32 74
Dividend Discount
Gordon GGM $139.99 $278.94 $422.39 67
DDM Multi-Stage $139.99 $241.07 $294.44 67
Multiples
P/E Multiple $425.07 $566.77 $708.46 63
P/S Multiple $344.11 $458.81 $573.51 58
P/B Multiple $241.17 $321.57 $401.96 55
EV/EBIT $525.21 $691.03 $856.84 66
EV/EBITDA $561.18 $738.99 $916.80 67
EV/Revenue $382.80 $534.96 $687.12 54
Asset-Based
NCAV (Graham) $29.23 $39.17 $58.47 54
Growth DCF
Growth DCF $435.70 $682.14 $1,059 77
Rev-Margin DCF $393.34 $628.08 $914.66 72
Economic Profit
Residual Income $173.27 $225.93 $1,601 64
ROIC Compounder $302.54 $358.61 $415.76 72
Growth Earnings
Growth-Adj P/E $312.03 $445.76 $579.48 67

Widest divergence: DCF Models ($674.82) versus Asset-Based ($39.17). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 14.6
P/S ratio 0.92 P/E × margin
EPS (TTM) $1.75 price ÷ EPS = P/E 14.6
Dividend yield 3.7% payout 54.2%
Net margin 6.3% FY2025
Return on equity 53.3% TTM
More key figures
Profitability
Return on assets (EBIT) 19.3% avg 5y
Operating margin 9.1% TTM
Growth
Revenue (TTM) $49.5B TTM
Revenue growth (YoY) +7.4% 3y avg +8.1%
EPS growth (YoY) +8.3%
Balance sheet & cash flow
Free cash flow $4.2B FY2025
Net debt $3.5B FY2025 · ≈ 0.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 73 · Market factors (momentum, volatility) 30

Profitability 83
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Clicks Group Limited, together with its subsidiaries, operates as a health, wellness, and beauty retailer in South Africa and internationally. The company operates through two segments, Retail and Distribution.

Full company description

Clicks Group Limited, together with its subsidiaries, operates as a health, wellness, and beauty retailer in South Africa and internationally. The company operates through two segments, Retail and Distribution. It provides retail, including Clicks, a specialist health, beauty and homeware retailer; Sorbet, a franchise of hair and beauty salons; 180 Degrees Marketing, a software development company; and The Body shop, which specializes in naturally inspired luxury toiletries, cosmetics, gifting and grooming, with stores. The company also offers various ranges of mother-and-baby products, including baby hardware, accessories, health, food, diaper and wipes, and baby toiletries under the Clicks Baby brand; and diabetic clinic, travel clinic, and wound management practice under the M-KEM brand. In addition, the company is involved in the wholesale and supply of pharmaceutical products to retail pharmacies, private hospitals, dispensing doctors, and retail health stores under the UPD brand. The company was formerly known as New Clicks Holdings Limited and changed its name to Clicks Group Limited in June 2009. Clicks Group Limited was founded in 1968 and is headquartered in Cape Town, South Africa.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Clicks Group Ltd reported revenue of 50.0B ZAR in FY2025 versus 37.3B ZAR in FY2021, a compound +7.6%/yr. Reported net income was 3.2B ZAR in FY2025, compounding +14.5%/yr from FY2021.

Growth Quality 81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$50.0B
Latest YoY
+10.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.8%
Avg. revenue growth/yr (23Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.1%
Value creation/yr (5Y, in ZAR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in ZAR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+16.0% (12.3 + 3.7)
Revenue +7.6%/yr
FY21 37.3B ZAR
FY22 39.6B ZAR
FY23 41.6B ZAR
FY24 45.4B ZAR
FY25 50.0B ZAR
Net income +14.5%/yr
FY21 1.8B ZAR
FY22 2.6B ZAR
FY23 2.5B ZAR
FY24 2.8B ZAR
FY25 3.2B ZAR
Character of growth · EPS growth decomposed (2014-2025) +13.2 % p.a.
Revenue per share +9.1 %

of which total revenue +8.6 % · buybacks/dilution +0.5 %

EBIT margin +3.9 %
Tax rate +0.2 %
Residual (interest, one-offs) −0.3 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Clicks Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/CLCGY

Peer Group

Pharmaceutical Retailers · 57 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 74 · Top 25%
Fair Value upside +37% · Top 25%
Return on equity (TTM) 53% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 9% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 3.7% · Above median

Valuation Multiples vs Pharmaceutical Retailers median · lower = cheaper

P/E (TTM) 14.6× · Cheaper than 75% of peers
P/FCF 0.8× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE82 · sector 20
FUTURE37 · sector 19
PAST100 · sector 15
HEALTH100 · sector 98
DIVIDEND74 · sector 63

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Pharmaceutical Retailers stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
JD Health International Inc 6618 HK$38.86 HK$33.31 −14%
Alibaba Health Information Technology Limited 0241 HK$3.26 HK$2.04 −37%
Yifeng Pharmacy Chain Co 603939 ¥22.90 ¥29.07 +27%
DaShenLin Pharmaceutical Group 603233 ¥18.79 ¥23.86 +27%
MedPlus Health Services Limited MEDPLUS ₹656.80 ₹191.97 −71%
LBX Pharmacy Chain Joint Stock Company 603883 ¥13.44 ¥10.57 −21%
Yixintang Pharmaceutical Group 002727 ¥11.61 ¥9.45 −19%
Anhui Huaren Health Pharmaceutical Co 301408 ¥16.31 ¥10.05 −38%
ShuYu Civilian Pharmacy Corp 301017 ¥13.30 ¥5.91 −56%
Apotea AB APOTEA kr 74.15 kr 46.46 −37%

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Frequently asked questions

Is Clicks Group Ltd (CLCGY) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of $35.03 versus a price of $25.63, about +37% upside (undervalued).
What is the fair value of CLCGY?
Our model-based fair value for Clicks Group Ltd is $35.03 (as of Aug 29, 2026), built from audited fundamentals. The current price: $25.63.
What is the quality score of CLCGY?
Clicks Group Ltd has a Quality Score of 74/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Clicks Group Ltd (CLCGY)?
Clicks Group Ltd reported trailing-twelve-month revenue of about $49.5B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of CLCGY?
The net profit margin of Clicks Group Ltd is about 6.7%, meaning it keeps roughly 6.7% of revenue as net income. Based on the latest reported figures.
Does Clicks Group Ltd pay a dividend?
Clicks Group Ltd currently shows a dividend yield of about 3.70% relative to its recent price (as of Aug 29, 2026).
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