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DCF valuation

What is Lesaka Technologies Inc worth?

With the base-case assumptions below, a discounted cash flow model on Lesaka Technologies Inc's reported free cash flow gives $11.58 per share. The share price was $3.53 on November 10, 2026, 70% below that value.

Inputs from the filings

Free cash flow, fiscal 2026
$31.8M
Average free cash flow, last 5 years
-$7.2M
Cash
$85.8M
balance sheet of September 30, 2026
Debt
$213.8M
balance sheet of September 30, 2026
Diluted shares, fiscal 2026
79,677,000
Revenue growth per year, last 5 years
40.7%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$6.40+81%
Base15.0%9.0%2.5%9.0%$11.58+228%
Bull20.0%11.5%3.0%8.0%$21.21+501%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$15.50$16.72$18.21$20.08$22.48
8.0%$12.55$13.35$14.28$15.40$16.78
9.0%$10.41$10.95$11.58$12.31$13.17
10.0%$8.79$9.17$9.61$10.11$10.68
11.0%$7.52$7.80$8.12$8.47$8.87

Where the presets come from

Base: years 1 to 5 grow at Lesaka Technologies Inc's revenue growth rate over the last 5 fiscal years (40.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Lesaka Technologies Inc company page