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    Investment managers
Vunani Limited

Vunani Limited

JJSE:VUN
200.00
ZAC
+8.00
(+4.17%)
30.57BMarket Cap
Vunani Limited
JSE:VUN
(Johannesburg Stock Exchange)

Recent

price

200.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
ZAR
0.79
1.2
1.14
1.2
1.27
- -
1.48
2.26
2.69
2.2
3.33
4.12
4.36
4.18
4.59
5.33
- -
Revenue per Share
-1.12
-0.49
- -
0.1
0.55
- -
0.3
0.26
0.55
0.22
0.13
0.38
0.33
0.09
-0.07
0.06
- -
Basic EPS, GAAP
1.37
0.13
-0.61
-0.36
-0.76
- -
-0.08
0.02
0.11
0.28
0.4
0.37
0.3
0.1
-0.15
0.16
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
2.63
1.89
1.91
2.14
2.36
2.34
2.29
2.5
2.91
3.03
1.74
1.99
2.07
2
1.81
1.76
1.81
Book Value per Share
2.11
1.55
1.58
1.78
2.04
2.02
0.76
1.08
1.57
0.98
0.02
0.26
0.35
0.32
0.32
0.43
0.32
Tangible Book Value per Share
86
98
101
100
103
109
126
158
162
161
160
160
159
159
161
161
160
Basic Weighted Avg Shares
67
118
115
120
130
- -
187
356
436
353
534
660
691
666
739
858
- -
Sales/Revenue/Turnover
-2.95
63.37
63.36
32.46
8.84
- -
3.19
25.44
42.71
25.04
22.2
13
30.35
24.68
14.85
28.22
- -
Operating Margin (%)
- -
3
3
2
3
- -
3
15
14
23
27
26
27
26
28
24
- -
Depreciation Expense
-96
-48
- -
10
56
- -
38
41
89
36
21
61
52
14
-12
10
- -
Net Income, GAAP
- -
- -
66.59
- -
- -
- -
17.83
13.23
16.4
16.02
- -
34.06
40.59
59.43
118.23
31.94
- -
Effective Tax Rate (%)
-141.65
-40.49
-0.19
8.23
43.01
- -
20.31
11.52
20.29
10.17
3.87
9.21
7.58
2.16
-1.56
1.18
- -
Profit Margin (%)
-196
-116
31
16
54
47
43
24
45
162
93
126
95
28
2
64
2
Working Capital
- -
- -
60
46
20
- -
- -
- -
- -
12
4
11
19
8
11
12
11
LT Debt
424
213
214
208
255
257
353
399
478
558
334
382
400
390
361
424
361
Total Equity
- -
- -
7.81
- -
- -
- -
13.04
19.63
32.09
11.27
- -
17.99
16.24
4.89
-3.33
18.07
- -
Return on Invested Capital (%)
- -
- -
1.69
- -
- -
- -
12.87
12.23
21.19
7.29
- -
13.62
12.05
2.47
-5.43
-1.53
- -
Return on Capital (%)
-70.3
-21.2
-0.11
4.74
23.74
- -
12.44
10.85
20.38
7.51
5.39
20.4
16.26
4.43
-3.77
3.52
- -
Return on Common Equity (%)

Capital Structure

ZAR

•

in mil. unless spec.
Feb'24
Aug'25
Feb'25
ST Debt
31
31
33
LT Borrowings
- -
- -
- -
LT Finance Leases
8
6
11
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
159
161
161
Market Capitalization
430
333
306

Working Capital

ZAR

•

in mil. unless spec.
Feb'24
Aug'25
Feb'25
Total Current Assets
364
353
592
Cash, Cash Equivalents & STI
223
180
188
Accounts Receivable, Net
106
150
350
Inventories
- -
- -
- -
Total Current Liabilities
336
334
590
Payables & Accruals
- -
- -
- -
ST Debt
31
31
33
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.33%
5.35%
17.34%
Free Cash Flow
- -
-108.51%
-206.21%
Net Income, GAAP
- -
-52.03%
-187.72%
Sales/Revenue/Turnover
- -
10.33%
16.07%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
666
2025
- -
- -
739
2026
- -
- -
858

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.09
2025
- -
- -
-0.07
2026
- -
- -
0.06

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -
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Business
Vunani Limited Vunani Limited (VUN.JO) is an independent black-owned and managed diversified financial services group operating primarily in South Africa with a presence across Africa. Founded in the late 1990s and headquartered in Sandton, South Africa, the company listed on the JSE AltX in November 2007 before transferring to the main board in 2019; it provides a broad range of products and services through segments including fund management, asset administration, insurance, advisory services, and institutional securities broking. Core offerings encompass institutional and retail investment products such as equities, bonds, inflation-linked bonds, properties, absolute return funds, and smart beta funds; beneficiary fund administration for minor dependents of deceased retirement fund members; short-term insurance, medical aid, individual life insurance, and employee benefit insurance products; corporate advisory and investment services featuring capital raising, IPOs, BEE transactions, transaction structuring, book builds, share placements, mergers, acquisitions, and disposals; as well as equity, derivative, and capital market trading services for institutional clients including index futures, single stock futures, currency and interest rate futures, stocks, commodities, equity options, over-the-counter options, money market products, and bonds. Vunani targets public and private sector clients, emphasizing black economic empowerment and customized solutions via its robust operational platform. Recent developments include a merger between Vunani Fund Managers and Sentio Capital, which became unconditional on October 1, 2025, to form Vunani Sentio Fund Managers as a scaled investment entity; a trading statement for the six months ended August 2025 projecting headline earnings per share growth of 32% to 52% (8.8 to 10.2 cents); and sustained revenue growth to R665.2 million for the year ended February 2024 alongside operating profit of R55.2 million.