FirstRand (FSR.JO) Stock Price

FirstRand Price

JSE·CLOSED
9,733.00ZAR+0.00 (+0.00 %)
Market closed

Over the last 19 years FirstRand grew revenue by 6.9% annually, reaching 165.53 B ZAR. Earnings per share have grown at 8.2% per year over the last 19 years. For FirstRand, the net margin of 25.3% is up versus 23.0% a few years ago. At today's price the dividend yield works out to roughly 0.05%. The payout ratio is around 62% of earnings. The dividend has grown at 10.8% per year over the past 19 years. The consensus 12-month price target for FirstRand is 97.92 ZAR, about 99.0% below where the stock trades today. Of 14 analysts, 11 rate the stock a buy — an overall Buy consensus. The stock trades about 34% above its 52-week low.

FirstRand stock price

Volume
Ex-Dividend
Details

Stock Price

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How to Read This Chart

This chart tracks the historical stock price of FirstRand over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how FirstRand stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing FirstRand's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

FirstRand Stock Price History
DateFirstRand Price
8/19/20269,733.00 ZAR
8/18/20269,733.00 ZAR
8/17/20269,816.00 ZAR
8/14/20269,904.00 ZAR
8/13/20269,921.00 ZAR
8/12/20269,892.00 ZAR
8/11/20269,956.00 ZAR
8/7/202610,103.00 ZAR
8/6/202610,129.00 ZAR
8/5/202610,061.00 ZAR
8/4/202610,104.00 ZAR
7/31/20269,868.00 ZAR
7/30/20269,683.00 ZAR
7/29/20269,618.00 ZAR
7/28/20269,604.00 ZAR
7/27/20269,618.00 ZAR
7/24/20269,587.00 ZAR
7/23/20269,536.00 ZAR
7/22/20269,623.00 ZAR
7/21/20269,607.00 ZAR
7/20/20269,646.00 ZAR
7/17/20269,719.00 ZAR
7/16/20269,786.00 ZAR
7/15/20269,723.00 ZAR
7/14/20269,730.00 ZAR
7/13/20269,691.00 ZAR
7/10/20269,685.00 ZAR
7/9/20269,597.00 ZAR
7/8/20269,510.00 ZAR
7/7/20269,736.00 ZAR
7/6/20269,839.00 ZAR
7/3/20269,603.00 ZAR
7/2/20269,631.00 ZAR
7/1/20269,477.00 ZAR
6/30/20269,726.00 ZAR
6/29/20269,629.00 ZAR
6/26/20269,552.00 ZAR
6/25/20269,751.00 ZAR
6/24/20269,623.00 ZAR
6/23/20269,900.00 ZAR
6/22/20269,902.00 ZAR
6/19/20269,910.00 ZAR
6/18/20269,793.00 ZAR
6/17/20269,574.00 ZAR
6/15/20269,548.00 ZAR
6/12/20269,473.00 ZAR
6/11/20269,245.00 ZAR
6/10/20269,156.00 ZAR
6/9/20269,164.00 ZAR
6/8/20269,085.00 ZAR
6/5/20269,201.00 ZAR
6/4/20269,115.00 ZAR
6/3/20269,099.00 ZAR
6/2/20269,089.00 ZAR
6/1/20269,249.00 ZAR
5/29/20269,310.00 ZAR
5/28/20269,240.00 ZAR
5/27/20269,400.00 ZAR
5/26/20269,226.00 ZAR
5/25/20269,089.00 ZAR
5/22/20268,986.00 ZAR
5/21/20268,983.00 ZAR
5/20/20268,875.00 ZAR
5/19/20268,789.00 ZAR
5/18/20268,856.00 ZAR
5/15/20268,776.00 ZAR
5/14/20268,950.00 ZAR
5/13/20268,806.00 ZAR
5/12/20268,795.00 ZAR
5/11/20268,853.00 ZAR
5/8/20268,953.00 ZAR
5/7/20269,193.00 ZAR
5/6/20269,091.00 ZAR
5/5/20268,800.00 ZAR
5/4/20268,715.00 ZAR
4/30/20268,823.00 ZAR
4/29/20268,816.00 ZAR
4/28/20268,800.00 ZAR
4/24/20268,800.00 ZAR
4/23/20268,871.00 ZAR
4/22/20268,827.00 ZAR
4/21/20268,886.00 ZAR
4/20/20268,953.00 ZAR
4/17/20269,178.00 ZAR
4/16/20268,949.00 ZAR
4/15/20269,025.00 ZAR
4/14/20268,973.00 ZAR
4/13/20268,753.00 ZAR
4/10/20268,839.00 ZAR
4/9/20268,800.00 ZAR
4/8/20269,123.00 ZAR
4/7/20268,700.00 ZAR
4/2/20268,664.00 ZAR
4/1/20268,694.00 ZAR
3/31/20268,614.00 ZAR
3/30/20268,632.00 ZAR
3/27/20268,774.00 ZAR
3/26/20268,804.00 ZAR
3/25/20269,011.00 ZAR
3/24/20268,649.00 ZAR
3/23/20268,785.00 ZAR
3/20/20268,726.00 ZAR
3/19/20268,721.00 ZAR
3/18/20268,859.00 ZAR
3/17/20269,017.00 ZAR
3/16/20268,915.00 ZAR
3/13/20268,800.00 ZAR
3/12/20268,801.00 ZAR
3/11/20269,018.00 ZAR
3/10/20269,078.00 ZAR
3/9/20268,837.00 ZAR
3/6/20268,696.00 ZAR
3/5/20269,274.00 ZAR
3/4/20269,264.00 ZAR
3/3/20269,172.00 ZAR
3/2/20269,590.00 ZAR
2/27/20269,919.00 ZAR
2/26/20269,952.00 ZAR
2/25/20269,727.00 ZAR
2/24/20269,871.00 ZAR
2/23/20269,743.00 ZAR
2/20/20269,804.00 ZAR
2/19/20269,773.00 ZAR
2/18/20269,807.00 ZAR
2/17/20269,531.00 ZAR
2/16/20269,588.00 ZAR
2/13/20269,500.00 ZAR
2/12/20269,537.67 ZAR
2/11/20269,519.00 ZAR
2/10/20269,472.00 ZAR
2/9/20269,361.00 ZAR
2/6/20269,425.00 ZAR
2/5/20269,343.00 ZAR
2/4/20269,346.00 ZAR
2/3/20269,413.00 ZAR
2/2/20269,403.00 ZAR
1/30/20269,254.00 ZAR
1/29/20269,303.00 ZAR
1/28/20269,178.15 ZAR
1/27/20269,292.00 ZAR
1/26/20269,121.00 ZAR
1/23/20269,144.00 ZAR
1/22/20269,286.00 ZAR
1/21/20269,046.00 ZAR
1/20/20269,030.00 ZAR
1/19/20269,087.00 ZAR
1/16/20269,116.00 ZAR
1/15/20269,133.00 ZAR
1/14/20268,996.55 ZAR
1/13/20269,039.00 ZAR
1/12/20269,100.00 ZAR
1/9/20269,174.00 ZAR
1/8/20269,217.00 ZAR
1/7/20269,158.00 ZAR
1/6/20269,203.00 ZAR
1/5/20268,999.00 ZAR
1/2/20269,063.00 ZAR
12/31/20259,075.00 ZAR
12/30/20259,050.00 ZAR
12/29/20259,061.00 ZAR
12/24/20259,063.00 ZAR
12/23/20258,967.00 ZAR
12/22/20258,809.00 ZAR
12/19/20258,962.00 ZAR
12/18/20258,936.00 ZAR
12/17/20258,920.00 ZAR
12/15/20258,749.00 ZAR
12/12/20258,589.00 ZAR
12/11/20258,686.00 ZAR
12/10/20258,665.32 ZAR
12/9/20258,642.00 ZAR
12/8/20258,560.00 ZAR
12/5/20258,674.00 ZAR
12/4/20258,619.00 ZAR
12/3/20258,523.00 ZAR
12/2/20258,335.00 ZAR
12/1/20258,200.00 ZAR
11/28/20258,142.21 ZAR
11/27/20258,100.00 ZAR
11/26/20258,265.00 ZAR
11/25/20258,110.00 ZAR
11/24/20258,152.91 ZAR
11/21/20258,152.00 ZAR
11/20/20258,223.00 ZAR
11/19/20258,215.00 ZAR
11/18/20258,210.00 ZAR
11/17/20258,450.00 ZAR
11/14/20258,347.00 ZAR
11/13/20258,414.00 ZAR
11/12/20258,155.00 ZAR
11/11/20258,026.00 ZAR
11/10/20258,091.00 ZAR
11/7/20258,040.00 ZAR
11/6/20258,106.00 ZAR
11/5/20258,243.00 ZAR
11/4/20258,154.00 ZAR
11/3/20258,249.00 ZAR
10/31/20258,223.00 ZAR
10/30/20258,228.00 ZAR
10/29/20258,348.00 ZAR
10/28/20258,320.00 ZAR
10/27/20258,164.00 ZAR
10/24/20258,294.00 ZAR
10/23/20258,314.00 ZAR
10/22/20258,320.62 ZAR
10/21/20258,229.12 ZAR
10/20/20258,168.00 ZAR
10/17/20257,883.67 ZAR
10/16/20257,971.97 ZAR
10/15/20257,988.00 ZAR
10/14/20258,034.00 ZAR
10/13/20258,100.00 ZAR
10/10/20258,129.00 ZAR
10/9/20258,078.00 ZAR
10/8/20257,819.00 ZAR
10/7/20258,110.00 ZAR
10/6/20258,096.00 ZAR
10/3/20257,964.00 ZAR
10/2/20257,810.00 ZAR
10/1/20257,775.00 ZAR
9/30/20257,771.33 ZAR
9/29/20257,771.00 ZAR
9/26/20257,832.00 ZAR
9/25/20257,906.44 ZAR
9/23/20258,057.73 ZAR
9/22/20257,966.00 ZAR
9/19/20258,099.00 ZAR
9/18/20258,120.00 ZAR
9/17/20258,006.00 ZAR
9/16/20257,965.00 ZAR
9/15/20257,937.00 ZAR
9/12/20257,983.00 ZAR
9/11/20257,907.00 ZAR
9/10/20257,433.00 ZAR
9/9/20257,411.00 ZAR
9/8/20257,413.00 ZAR
9/5/20257,360.00 ZAR
9/4/20257,257.00 ZAR
9/3/20257,251.00 ZAR
9/2/20257,386.00 ZAR
9/1/20257,436.00 ZAR
8/29/20257,441.00 ZAR
8/28/20257,617.00 ZAR
8/27/20257,531.00 ZAR
8/26/20257,482.00 ZAR
8/25/20257,705.00 ZAR
8/22/20257,807.00 ZAR
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FirstRand Revenue, EBIT, Net Income

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2021
116.06 B ZAR
0.00 ZAR
26.74 B ZAR
Jan 1, 2022
122.74 B ZAR
45.58 B ZAR
32.76 B ZAR
Jan 1, 2023
138.15 B ZAR
0.00 ZAR
36.33 B ZAR
Jan 1, 2024
156.73 B ZAR
0.00 ZAR
38.19 B ZAR
Jan 1, 2025
165.53 B ZAR
0.00 ZAR
41.88 B ZAR
Jan 1, 2026 (e)
160.41 B ZAR
36.28 B ZAR
38.97 B ZAR
Jan 1, 2027 (e)
172.37 B ZAR
38.98 B ZAR
53.55 B ZAR
Jan 1, 2028 (e)
185.02 B ZAR
41.84 B ZAR
57.38 B ZAR

FirstRand Income Statement, Balance Sheet, Cash Flow Statement

Last updated Aug 21, 2026, 11:34 PM
 
REVENUEB ZAR
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB ZAR
EBITB ZAR
EBIT MARGIN%
NET INCOMEB ZAR
NET INCOME GROWTH%
DIV.ZAR
DIV. GROWTH%
SHARESB
20132014201520162017201820192020202120222023202420252026e2027e2028e
78.4090.93101.56114.20127.01140.97173.13170.07158.70165.33213.61262.80275.83160.41172.37185.02
4.9515.9811.6912.4511.2210.9922.81-1.77-6.684.1829.2023.024.96-41.847.457.34
135.38116.73104.5192.9483.5675.2961.3162.4166.8864.2049.6940.3938.4864.2064.2064.20
106.14106.14106.14106.14106.14106.14106.14106.14106.14106.14106.14106.14106.14102.98110.65118.78
–––––––––45.58–––36.2838.9841.84
–––––––––27.57–––22.6122.6122.61
14.7918.4421.6222.5624.5726.5530.2117.0226.7432.7636.3338.1941.8838.9753.5557.38
12.0424.7217.264.358.908.0313.81-43.6657.1222.5010.905.129.65-6.9437.407.17
1.361.742.102.262.552.752.911.462.203.423.846.274.66261.47313.76376.52
33.3327.9420.697.6212.837.845.82-49.8350.6855.4512.2863.28-25.685,510.9420.0020.00
5.555.545.545.615.615.615.615.615.615.615.615.605.605.605.605.60
Details

Income Statement Key Figures

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Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales FirstRand generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue FirstRand retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare FirstRand's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares FirstRand has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against FirstRand's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

FirstRand stock margins

The FirstRand margin analysis displays the gross margin, EBIT margin, as well as the profit margin of FirstRand. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for FirstRand.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2021
86.47 %
0.00 %
23.04 %
Jan 1, 2022
86.47 %
37.14 %
26.69 %
Jan 1, 2023
86.47 %
0.00 %
26.30 %
Jan 1, 2024
86.47 %
0.00 %
24.37 %
Jan 1, 2025
86.47 %
0.00 %
25.30 %
Jan 1, 2026 (e)
86.47 %
22.61 %
24.29 %
Jan 1, 2027 (e)
86.47 %
22.61 %
31.07 %
Jan 1, 2028 (e)
86.47 %
22.61 %
31.01 %

FirstRand Stock Revenue, EBIT, Earnings per Share

The FirstRand earnings per share therefore indicates how much revenue FirstRand has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2021
20.69 ZAR
0.00 ZAR
4.77 ZAR
Jan 1, 2022
21.89 ZAR
8.13 ZAR
5.84 ZAR
Jan 1, 2023
24.65 ZAR
0.00 ZAR
6.48 ZAR
Jan 1, 2024
27.96 ZAR
0.00 ZAR
6.81 ZAR
Jan 1, 2025
29.56 ZAR
0.00 ZAR
7.48 ZAR
Jan 1, 2026 (e)
28.65 ZAR
6.48 ZAR
6.96 ZAR
Jan 1, 2027 (e)
30.78 ZAR
6.96 ZAR
9.56 ZAR
Jan 1, 2028 (e)
33.05 ZAR
7.47 ZAR
10.25 ZAR

FirstRand business model & stock analysis

FirstRand Ltd is a holding company that offers various financial services in South Africa and selected markets worldwide. It was founded in 1970 as the Rand Merchant Bank and later established as a holding company in 1998. FirstRand has grown to become one of the largest financial service providers in South Africa and the African continent. Its business model is based on three pillars: First National Bank (FNB), Rand Merchant Bank (RMB), and WesBank. FNB offers a wide range of financial products including credit and debit cards, accounts, loans, investments, and insurance. RMB provides investment and corporate banking services such as stocks, bonds, derivatives, mergers and acquisitions, and consulting for private and institutional clients. WesBank is a leading provider of vehicle financing in South Africa, offering services related to car purchases such as insurance and payment guarantees. In addition to these three pillars, FirstRand operates several specialized companies including FirstRand Securities, which offers stock trading and brokerage services, Ashburton Investments, a leading asset manager with a wide range of investment products and solutions, and FirstRand Namibia, a subsidiary providing banking and financial services in Namibia. FirstRand sets itself apart from other financial service providers through its focus on innovative technology and digital solutions. FNB is a pioneer in digital banking in South Africa, offering a wide range of online and mobile banking products. The FNB App, for example, allows customers to conduct their banking transactions through their smartphones without having to visit a branch. This allows customers to manage their banking anytime and anywhere, saving time and effort. Beyond innovation in the banking sector, FirstRand is also committed to community and country development. The company actively participates in charitable projects and initiatives, investing in education, healthcare, and environmental conservation. For example, FNB has partnered with the nonprofit organization Mahala Africa to provide access to education and IT for children and youth in South Africa. Other initiatives supported by FirstRand include promoting small businesses, developing rural areas, supporting environmental and conservation projects, and fostering technology start-ups. Overall, FirstRand is a consumer-focused company that emphasizes innovation and technology to provide its customers with high-quality products and services. With a wide range of services, a strong focus on digitalization, and a solid ethical foundation, FirstRand is well positioned to continue growing and solidify its position as a leading financial service provider in South Africa and beyond.

FirstRand SWOT Analysis

Strengths

FirstRand Ltd has several strengths that contribute to its success. Firstly, it is one of the largest financial services providers in South Africa, with a strong market presence. This allows the company to leverage its size and scale to capture more opportunities and gain a competitive edge in the industry.

Secondly, FirstRand Ltd has a diversified business portfolio, spanning across banking, insurance, asset management, and investment banking. This diversification helps the company mitigate risks associated with any particular sector and enhances its resilience in changing economic conditions.

Additionally, the company has a solid financial performance track record, characterized by steady revenue growth and healthy profitability. This not only boosts investor confidence but also demonstrates FirstRand Ltd's ability to effectively navigate market challenges and deliver value to its stakeholders.

Weaknesses

Despite its strengths, FirstRand Ltd also faces certain weaknesses that could potentially hinder its performance. One of the notable weaknesses is its heavy reliance on the South African market. This concentration exposes the company to risks associated with the local economy, such as regulatory changes, political instability, and currency fluctuations.

Another weakness is the susceptibility to economic downturns. Given the company's significant exposure to the financial sector, a recession or financial crisis could adversely impact its operations and profitability. FirstRand Ltd must continually monitor and manage these risks to ensure its long-term sustainability.

Opportunities

FirstRand Ltd has identified several growth opportunities that it intends to capitalize on. Firstly, expanding its presence in other African countries with promising economic prospects can provide the company with access to new markets and customer segments. This can drive revenue growth and reduce its dependence on the South African market.

Furthermore, technological advancements offer opportunities for FirstRand Ltd to enhance its digital banking capabilities and provide innovative financial solutions. Embracing digital transformation can enable the company to streamline operations, improve customer experience, and attract a larger customer base.

Threats

FirstRand Ltd faces various threats that could impact its performance and market position. One significant threat is increasing competition from both traditional financial institutions and emerging fintech players. The rapidly evolving financial landscape requires the company to continuously innovate and adapt to stay ahead of competitors.

Additionally, regulatory changes and compliance requirements pose a threat to FirstRand Ltd's operations. Stringent regulations can increase compliance costs and restrict certain revenue-generating activities, potentially affecting profitability. The company must proactively monitor and comply with regulatory updates to minimize any negative impact.

FirstRand Eulerpool Fair Value

Details

Fair Value Estimate

ⓘ

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

FirstRand historical P/E ratio, EBIT multiple, and P/S ratio

FirstRand annual returns

Details

Annual Return

ⓘ

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

FirstRand shares outstanding

The number of shares of FirstRand was 5.6 B in 2025. This indicates how many shares FirstRand is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2021
5.61 B Stocks
Jan 1, 2022
5.61 B Stocks
Jan 1, 2023
5.61 B Stocks
Jan 1, 2024
5.60 B Stocks
Jan 1, 2025
5.60 B Stocks
Jan 1, 2026 (e)
5.60 B Stocks
Jan 1, 2027 (e)
5.60 B Stocks
Jan 1, 2028 (e)
5.60 B Stocks

FirstRand stock splits

In FirstRand's history, there have been no stock splits.

FirstRand Dividend History

37 years of dividend payments

YearAnnual DividendYoY ChangePayments
2026259.00ZARYTD—1×
Mar 31, 2026259.00ZAR↑ 10,385.8%1/1
20254.66ZAR↓ 25.7%2×
Apr 2, 20252.19ZAR↑ 1,725.0%1/2
Oct 8, 20252.47ZAR↑ 12.8%2/2
20246.27ZAR↑ 63.3%4×
20233.84ZAR↑ 12.3%2×
20223.42ZAR↑ 30.0%2×
20212.63ZAR↑ 80.1%2×
20201.46ZAR↓ 49.8%1×
20192.91ZAR↑ 5.8%2×
20182.75ZAR↑ 7.8%2×
20172.55ZAR↑ 12.8%2×

FirstRand dividend history and estimates

In 2025, FirstRand paid a dividend amounting to 4.66 ZAR. Dividend means that FirstRand distributes a portion of its profits to its owners.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Dividend
Dividend (Estimate)
Details
Date
Dividend
Dividend (Estimate)
Jan 1, 2021 (e)
2.63 ZAR
-0.43 ZAR
Jan 1, 2022
3.42 ZAR
0.00 ZAR
Jan 1, 2023
3.84 ZAR
0.00 ZAR
Jan 1, 2024
6.27 ZAR
0.00 ZAR
Jan 1, 2025
4.66 ZAR
0.00 ZAR
Jan 1, 2026
261.47 ZAR
0.00 ZAR
Jan 1, 2027 (e)
0.00 ZAR
313.76 ZAR
Jan 1, 2028 (e)
0.00 ZAR
376.52 ZAR

FirstRand dividend payout ratio

In 2025, FirstRand had a payout ratio of 62.31%. The payout ratio indicates the percentage of the company's profits that FirstRand distributes as dividends.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2021
55.14 %
Jan 1, 2022
58.53 %
Jan 1, 2023
59.25 %
Jan 1, 2024
501.88 %
Jan 1, 2025
62.31 %
Jan 1, 2026 (e)
3,756.60 %
Jan 1, 2027 (e)
3,280.88 %
Jan 1, 2028 (e)
3,673.72 %

Current FirstRand forecasts and price targets in August 2026

Analyst Price Targets 2026
Δ MOM Price Target
1.05 %
Buy
78.57 % (11)
Hold
21.43 % (3)
Sell
0.00 % (0)
12M Price Target
97.92
Last Price
9,637.00
Currency
ZAR
12M Return Potential
-98.98 %
LTM Return
0 %

FirstRand Earnings Calls

FirstRand Earnings Estimates & Surprises

DateEPS estimateEPS ActualRevenue EstimatePrice reactionQuarterly report
2/29/20243.31ZAR-71.33 BZAR-2024 Q2
3/1/20233.04ZAR-60.85 BZAR-2023 Q2
9/15/20223.07ZAR--ZAR-2022 Q4
3/3/20222.84ZAR--ZAR-2022 Q2
9/16/20212.46ZAR-55.04 BZAR-2021 Q4
3/4/20211.95ZAR-52.42 BZAR-2021 Q2
9/10/20200.37ZAR-51.09 BZAR-2020 Q4
3/10/20202.51ZAR-56.09 BZAR-2020 Q2
9/5/20192.60ZAR-53.36 BZAR-2019 Q4
3/12/20192.39ZAR-53.27 BZAR-2019 Q2

EESG©

Eulerpool ESG Scorecard© for the FirstRand stock

83/100
99
Environment
99
Social
51
Governance
E

Environment

20
Scope 1 - Direct Emissions16,743
Scope 2 - Indirect emissions from purchased energy148,712
Scope 3 - Indirect emissions within the value chain14,533,538
Total CO₂ emissions165,455
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather—
Pesticides—
Palm Oil—
Tobacco
Genetically modified organisms
Climate concept—
Sustainable forestry—
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees60
Percentage of women in management—
Percentage of Asian employees—
Share of Asian management—
Percentage of Hispanic/Latino employees—
Hispano/Latino Management share—
Percentage of Black employees—
Black Management Share—
Percentage of white employees—
White Management Share—
Adult content
Alcohol
Weapons—
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept—
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

FirstRand shareholder structure

% Name
3.22302%
The Vanguard Group, Inc.
The Vanguard Group, Inc.
1.60785%
Fidelity Management & Research Company LLC
Fidelity Management & Research Company LLC
1.02942%
Ninety One SA Pty Ltd.
Ninety One SA Pty Ltd.
0.94561%
MandG Investment Managers (Pty) Ltd
MandG Investment Managers (Pty) Ltd
0.91433%
Invesco Advisers, Inc.
Invesco Advisers, Inc.
0.87030%
Allan Gray Proprietary Limited
Allan Gray Proprietary Limited
...

FirstRand Beneficial Ownership Filings (SEC 13D/G)

Free Float
99.3%
Float Shares
-
Shares Outstanding
-

FirstRand Executives and Management Board

14 members · avg. age 58 · 43 % women

EB

Ms. Emrie Brown

Chief Executive Officer - RMB

28.31 M ZAR

Management

HK

Mr. Hetash Kellan (52)

Chief Executive Officer - FNB · since 2013

24.09 M ZAR
MV

Ms. Mary Vilakazi (47)

Chief Executive Officer, Executive Director · since 2018

23.95 M ZAR
MD

Ms. Markos Davias (43)

Chief Financial Officer, Executive Director · since 2024

18.94 M ZAR
SC

Mr. Steven Cooper

Chief Executive Officer - Aldermore

2.30 M ZAR

Board of Directors

GG

Mr. Grant Gelink (74)

Independent Non-Executive Director

4.57 M ZAR
ZR

Ms. Zelda Roscherr (57)

Independent Non-Executive Director

4.36 M ZAR
LZ

Mr. Louis von Zeuner (63)

Independent Non-Executive Director

4.08 M ZAR
TW

Mr. Thomas Winterboer

Independent Non-Executive Director

3.52 M ZAR
JB

Mr. Johan Burger (65)

Non-Executive Independent Chairman of the Board

3.22 M ZAR
SS

Dr. Sibusiso Sibisi (69)

Lead Independent Non-Executive Director

3.10 M ZAR

Frequently asked questions about FirstRand

The business model of FirstRand Ltd revolves around being a leading financial services group in South Africa. As one of the largest banks in the country, FirstRand operates through a portfolio of different brands and subsidiaries. The company offers a wide range of financial services, including retail and commercial banking, investment banking, asset management, and insurance. With a strong focus on innovation and customer-centric solutions, FirstRand aims to meet the diverse needs of individuals, businesses, and institutions across various sectors. By leveraging its extensive network and expertise, FirstRand strives to deliver sustainable growth and value to its shareholders and stakeholders.

FirstRand Ltd is primarily active in the financial services industry.

Some of the main competitors of FirstRand Ltd in the market include Standard Bank Group Ltd, Absa Group Limited, and Nedbank Group Limited. These companies also operate in the financial services sector and provide similar banking and financial products and services. Competing with strong market players, FirstRand Ltd strives to differentiate itself through innovative offerings, customer-centric approach, and efficient operations. Eminently participating in the competitive landscape, FirstRand Ltd focuses on sustaining its market position and serving its customers with superior financial solutions.

FirstRand Ltd is a leading financial services provider based in South Africa. Established in 1998, the company has a rich history and background. It was formed through the merger of First National Bank (FNB), Momentum, and Rand Merchant Bank (RMB). FirstRand Ltd has since grown to become one of the largest banking institutions in Africa, offering a comprehensive range of financial products and services. With its commitment to innovation and customer-centric approach, FirstRand Ltd has gained a strong reputation in the industry. The company has consistently demonstrated its ability to adapt and thrive in a dynamic and competitive market, making it a trusted choice for individuals and businesses alike.

Over the years, FirstRand Ltd has achieved several significant milestones. These include consolidating its position as one of the largest financial services groups in South Africa. FirstRand Ltd has successfully expanded both locally and internationally, establishing a presence in various African countries, India, and the United Kingdom. The company's commitment to innovation and digital transformation has allowed it to stay ahead in the ever-evolving financial industry. FirstRand Ltd has consistently delivered strong financial performance, with an impressive track record of sustainable growth and profitability. Through its subsidiaries, including First National Bank, WesBank, and Ashburton Investments, FirstRand Ltd continues to lead in providing comprehensive financial solutions to its customers.

FirstRand Ltd, a leading financial services provider, primarily operates in South Africa. As one of the largest banking and insurance groups in the country, FirstRand Ltd serves a wide customer base across different provinces and cities. With a dominant presence in the South African market, FirstRand Ltd has established a strong network of branches and digital platforms to cater to the financial needs of individuals, businesses, and institutional clients. The company's focus on innovation and growth has further allowed it to expand its footprint into neighboring countries within the Southern African Development Community (SADC) region, including Namibia, Botswana, Mozambique, Zambia, and Lesotho.

FirstRand Ltd represents values of integrity, innovation, and accountability. With a corporate philosophy centered around customer-centricity, the company aims to create long-term value for its stakeholders. FirstRand values diversity and inclusivity, fostering an inclusive work environment where different perspectives are encouraged. The company's commitment to responsible business practices is reflected in its focus on sustainability and environmental stewardship. As one of the leading financial services providers in South Africa, FirstRand strives to deliver exceptional service, build lasting customer relationships, and contribute to the socio-economic development of the communities it serves.

Analysts currently set an average price target of 101.05 ZAR for the FirstRand stock (median: 97.92 ZAR), implying -99.0 % versus the latest price. The consensus is based on 14 analyst ratings.

FirstRand Analyst Price Targets 2026

14 analysts currently rate the FirstRand stock: 11 recommend buying, 3 holding and 0 selling. For 2026, analysts expect FirstRand to generate revenue of 160.41 B ZAR and earnings per share of 6.96 ZAR.

FirstRand Analyst Price Targets 2026

Converted at the current exchange rate, the FirstRand share trades at 516.60 EUR (9,733.00 ZAR).

The FirstRand share (FSR.JO) is listed on 4 stock exchanges, including: Frankfurt (FSRA.F), München (FSRA.MU).

FirstRand Limited is a leading South African group of companies involved in financial services, banking, and insurance. The company is structured through its three main divisions: First National Bank (FNB), Rand Merchant Bank (RMB), and WesBank, which cover the various business segments of the group. First National Bank (FNB) offers a wide range of financial and banking services to private, commercial, and institutional customers. These include current accounts, savings and investment accounts, credit cards, loans, mortgages, insurance, investment and asset management, as well as electronic payment and banking services. FNB also has a strong retail presence and offers various products and services for customers, including mobile services, smart banking, online banking, and a diverse range of products for small businesses. Rand Merchant Bank (RMB) specializes in investment banking and corporate banking. RMB provides a comprehensive range of services to institutional customers and companies, including structuring and financial advisory, capital raising, mergers and acquisitions, trade finance, risk management, foreign exchange trading, and investment advice. WesBank is one of the leading automotive finance companies in South Africa and offers various financing solutions for new and used cars, including leasing, installment agreements, personal loans, purchase and repurchase agreements, insurance, and warranties. WesBank also offers financial products for customers in other African countries. In recent years, FirstRand has also focused on digitization and innovation by expanding its product range and introducing new business models. The company has partnered with the smartphone bank TymeDigital by Commonwealth Bank of Australia and offers digital wallet and payment solutions. Meanwhile, RMB Ventures, together with telecommunications company MTN, has launched a platform to promote startups and entrepreneurship in Africa. FirstRand also has a strong presence in other African countries such as Namibia, Botswana, Ghana, Swaziland, Lesotho, Tanzania, Zambia, Mozambique, Nigeria, and Uganda. The company is committed to establishing a strong presence throughout Africa and operating as one of the leading African financial service providers. Overall, FirstRand has a diversified business model based on different segments and product offerings. The company has a strong presence in South Africa and other African countries and is focused on innovation and digitization to unlock new business opportunities. FirstRand also has a strong financial position and a solid growth strategy aimed at strengthening its market position and expanding its customer base.

The expected revenue of FirstRand is 160.41 B ZAR. This figure is based on current financial data and reflects the company's business performance.

The expected profit of FirstRand is 38.97 B ZAR. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of FirstRand is currently 1,398.36. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the FirstRand stock.

The price-to-sales ratio (P/S) of FirstRand is currently 339.73. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the FirstRand stock.

The Eulerpool Quality Score for FirstRand is 5/10.

The ISIN of FirstRand is ZAE000066304. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The WKN of FirstRand is A0EACV. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.

The ticker of FirstRand is FSR.JO. The ticker symbol is used to trade FirstRand shares on the stock exchange.

Over the past 12 months, FirstRand paid a dividend of 4.66 ZAR . This corresponds to a dividend yield of about 0.05 %. For the coming 12 months, FirstRand is expected to pay a dividend of 313.76 ZAR.

The current dividend yield of FirstRand is 0.05 %.

FirstRand pays a dividend, distributed in the months of , , , .

FirstRand paid dividends every year for the past 36 years.

For the upcoming 12 months, dividends amounting to 313.76 ZAR are expected. This corresponds to a dividend yield of 3.22 %.

FirstRand is assigned to the 'Finance' sector.

In the year 2025, FirstRand distributed 5.95 ZAR as dividends.

The dividends of FirstRand are distributed in ZAR.

All fundamentals and in-depth analysis of FirstRand

Our stock analysis for FirstRand stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of FirstRand. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

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