Fact based stock research
Santam (JSE:SNT)

ZAE000093779

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Santam stock research in summary

santam.co.za

ANALYSIS: With an Obermatt Combined Rank of 90 (better than 90% compared with investment alternatives), Santam (Property & Casualty Insurance, South Africa) shares have much better financial characteristics than comparable stocks. Shares of Santam are a good value (attractively priced) with a consolidated Value Rank of 59 (better than 59% of alternatives), show above-average growth (Growth Rank of 95), and are safely financed (Safety Rank of 81), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 90, is a strong buy recommendation based on Santam's financial characteristics. As the company Santam's key financial metrics all exhibit excellent performance, such as good value (Obermatt Value Rank of 59), above-average growth (Obermatt Growth Rank of 95), and indicate that the company is safely financed (Obermatt Safety Rank of 81), it is a solid stock investment where the risk of paying too much for the share is limited, unless the company has a bleak future. Such good financial performance can indicate that the company's future might actually be challenging, as it may be difficult to maintain the good performance. If they are safely financed and have been growing above average, and are still a good value, it means that the market is keeping prices low, for a reason which may become clearer over time. We recommend evaluating the future of Santam. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	59
Growth Rank	95
Safety Rank	81
Combined Rank	90

Country	South Africa
Industry	Property & Casualty Insurance
Index	Good Governace Growth Markets, JSE All Shares
Size class	Large

This stock has achievements: Top 10 Stock.

10-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Santam

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	79	55	57	59
GROWTH
GROWTH	29	37	65	95
SAFETY
SAFETY	81	81	81	81
SENTIMENT
SENTIMENT	72	70	81	^new
360° VIEW
360° VIEW	85	59	59	^new

Most recent update of the stock research: 10-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Santam is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	79	55	57	59
GROWTH
GROWTH	29	37	65	95
SAFETY
SAFETY	81	81	81	81
COMBINED
COMBINED	90	90	90	90

Last update of combined financial performance: 6-Oct-2022. Stock analysis on combined financial performance: The higher the rank of Santam the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 59 (better than 59% compared with alternatives), Santam shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Santam. Price-to-Sales (P/S) is 87, which means that the stock price compared with what market professionals expect for future sales is lower than for 87% of comparable companies, indicating a good value concerning Santam's revenue size. The same is valid for expected Price-to-Profits (or Price / Earnings, P/E), more favorable than for 51% of alternatives. It is also positive for expected dividend yields with a Dividend Yield rank of 60 (dividends are expected to be higher than 60% of other stocks). But, compared with other companies in the same industry, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is higher than average, making the stock more expensive. Only 81% of all competitors have an even higher price compared with book capital which puts the Price-to-Capital Rank for Santam to 19. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 59, is a buy recommendation based on Santam's stock price compared with the company's operational size and dividend yields. A low level of book capital means that the company has a business that is leaner in assets than its competitors. For instance, the company could be leasing its production facilities or be more focussed on intellectual property, such as its brand and software, which is less visible in its book capital. If that is the case, the three good value ranks for Sales, Profits, and Dividends are reliable indicators for the stock price value. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	84	85	88	87
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	58	50	38	51
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	31	20	16	19
DIVIDEND YIELD
DIVIDEND YIELD	96	70	57	60
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	79	55	57	59

Last update of Value Rank: 10-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Santam; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 95 (better than 95% compared with alternatives) for 2022, Santam shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Santam. Sales Growth has a rank of 100 which means that currently, professionals expect the company to grow more than 100% of its competitors. Capital Growth is also above 48% of competitors with a rank of 90, and Stock Returns with the rank of 77 is also an outperformance. Only Profit Growth is low with a rank of 48 which means that currently, professionals expect the company to grow its profits less than 52% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 95, is a buy recommendation for growth and momentum investors. All three operating growth indicators, namely revenue, profit, and capital growth, are showing improvements. This is a good indication of a company with a positive future. That might, at the same time, be the simple reason why profit growth is low. A growing company needs money and thus can't yet show high profit growth. Look out for signs in corporate communication about extra growth efforts costing time and money. If that is the case, Santam is a good growth stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	19	33	53	100
PROFIT GROWTH
PROFIT GROWTH	79	43	89	48
CAPITAL GROWTH
CAPITAL GROWTH	9	19	3	90
STOCK RETURNS
STOCK RETURNS	33	67	83	77
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	29	37	65	95

Last update of Growth Rank: 10-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Santam.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 81 (better than 81% compared with alternatives) for 2022, the company Santam has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Santam is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Santam. Leverage is at a rank of 56, meaning the company has a below-average debt-to-equity ratio. It has less debt than 56% of its competitors. Liquidity is also good at a rank of 74, meaning the company generates more profit to service its debt than 74% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 6, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 94% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 81 (better than 81% compared with alternatives), Santam has a financing structure that is significantly safer than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Santam. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Santam and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	53	65	47	56
REFINANCING
REFINANCING	6	6	6	6
LIQUIDITY
LIQUIDITY	78	82	70	74
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	81	81	81	81

Last update of Safety Rank: 6-Oct-2022. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Santam and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	36	17	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	92	^new
PRO HOLDINGS
PRO HOLDINGS	4	84	90	^new
MARKET PULSE
MARKET PULSE	66	57	56	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	72	70	81	^new

Last update of Sentiment Rank: 10-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Santam.
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