KARONasdaqServices-Prepackaged SoftwareFiscal year ends February 28
Karooooo Ltd.
Financials through fiscal 2025, year ended Feb 28, 2025Last filing: 20-F on Jun 9, 2026
$62.10+1.72 (+2.85%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
70.1%−0.3 pts over 5 years
Operating margin
28.7%−3.8 pts over 5 years
Net margin
20.2%+5.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.6% | +18.5% | +18.7% | – | |
| Gross profit | +19.0% | +20.7% | +18.6% | – | |
| Operating income | +25.9% | +23.4% | +15.8% | – | |
| Net income | +24.8% | +27.0% | +26.0% | – | |
| EPS, diluted | +25.0% | +25.1% | – | – | |
| Free cash flow | +1057.7% | +33.9% | +12.2% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 29.9% | |
| Return on assets | – | – | 19.6% | |
| Current ratio | – | 1.39 | 1.14 | |
| Debt to equity | – | – | 0.10 | |
| Net debt to EBITDA | – | – | -0.37× | |
| Interest coverage | 15.9× | 37.5× | 25.8× | |
| Inventory turnover | – | – | 262.1× | |
| Capex to revenue | 24.9% | 20.0% | 22.4% | |
| Diluted shares | 20.33B | 20.33B | 31M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Karooooo generated 5.88B ZAR from operations and spent 5.38B ZAR on capital expenditure, dividends and share buybacks. 65% of that went back into the business.
Generated
5.88B ZAR
Used
5.38B ZAR
Capital expenditure3.51B ZAR65%Dividends1.87B ZAR35%Share buybacks0 ZAR0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin20.2%
×Asset turnover0.97×
×Equity multiplier1.52×
=Return on equity, FY202529.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 20.2% | 0.97× | 1.52× | 29.9% |
| FY2024 | 17.6% | 1.04× | 1.43× | 26.3% |
| FY2023 | 17.0% | 1.03× | 1.42× | 24.8% |
| FY2022 | 16.4% | 0.91× | 2.00× | 29.9% |
| FY2021 | 13.9% | 0.96× | 2.75× | 36.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero921.03M ZAR
- Cash generatingOperating cash flow above zero1.93B ZAR
- Return on assets improvedROA up on the prior year19.7% → 21.4%
- Earnings backed by cashOperating cash flow above net income1.93B ZAR vs 921.03M ZAR
- Less leverageLong-term debt to assets fell1.0% → 0.6%
- Better liquidityCurrent ratio rose1.55 → 1.14
- No dilutionShare count did not rise31M → 31M
- Gross margin improvedGross margin up on the prior year63.98% → 70.13%
- More efficientAsset turnover rose1.12 → 1.06