GrowingGrass.
Companies
All company profiles

KUKZ — Kakuzi PLC

Graham's number is √(22.5 × EPS × BVPS): a P/E ceiling of 15 times a P/B ceiling of 1.5, applied to one year's earnings and book value. The Graham number primer works through it. It is a computation, not a recommendation.

Tests: Graham's criteria for industrial companies. Kakuzi grows avocados, macadamia, blueberries, tea, forestry and livestock on its farms in Murang'a, so Graham's industrial tests apply: sales for size, and the current ratio and long-term debt against working capital for strength. Long-term debt is taken as the whole non-current liability block, which the condensed statements do not break out, so it is an upper bound. Per-share figures rest on 19.6m shares, the count implied by the printed earnings per share against reported profit. Earnings swing with the harvest and with shipping: the group issued a profit warning alongside its 2026 half-year results.

six months to 30 Jun 2026

Interim: six months to 30 Jun 2026, unaudited. Earnings use the trailing twelve months to Jun 2026, built from reported half-year and full-year figures. Every test below is flagged interim and will be replaced when the full year is published.

Showing FY2026

√(22.5 × 5.05 × 268.45) = 174.65

The Graham number for the twelve months to Jun 2026, from trailing-twelve-month EPS and BVPS at the period end. Tap a figure below for its source and date.

Discount to Graham number: −146.1% at the results-day price of 429.75. Positive means the price was below the Graham number; negative means above.

The figures

Per share (KES)

Earnings (EPS) (6 months)
0.36

basic and diluted, six-month figure as printed; profit for the period 7,110k against 295,538k a year earlier. Avocado operating profit fell to 215.9m from 394.9m and macadamia to 68.2m from 318.8m; the directors recommend no interim dividend and issued a profit warning that net earnings for 2026 may be at least 25% below 2025 · basic · Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026

Book value (BVPS)
268.45

share capital 98,000k, other reserves 40,206k and retained earnings 5,123,342k; no non-controlling interests and no proposed dividend at the period end, the 2025 final having been paid · attributable · computed: total equity 5,261,548k ÷ 19.6m shares, Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026

Dividend (DPS)
Not compiled
Price on results day
429.75

NSE daily price list VWAP, the exchange's official end-of-day price. The chairman signed the statements on 25 Aug 2026 and the PDF was created that evening at 18:55, after the market closed, so the first trading day after that is used · NSE daily price list 2026-08-26, p.1 · 26 Aug 2026

Size and balance sheet (KES m)

Revenue (6 months)
1,117.7

sales, down from 1,511.3m, on a lower avocado crop, softer macadamia demand and disrupted shipping routes · Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026

Current assets
2,762.2

current assets excluding cash 2,487.6m plus cash and bank balances 274.6m · Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026

Current liabilities
396.4

Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026

Long-term debt
1,270.6

all non-current liabilities, because the condensed statement does not break them out; an upper bound on long-term debt · Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026

KES per US$
129.45

CBK daily exchange rates (mean) · 26 Aug 2026

Computed

EPS, trailing twelve months
5.05

attributable · computed: H1 FY2026 EPS 0.36 + FY2025 19.77 − H1 FY2025 15.08 · 25 Mar 2026

Revenue, trailing twelve months
4,975.0

computed: H1 FY2026 revenue 1,117.7m + FY2025 5,368.6m − H1 FY2025 1,511.3m · 25 Mar 2026

EPS, three-year average
Not compiled
P/E on three-year EPS
Not compiled
P/B
1.60

computed: price ÷ BVPS · 26 Aug 2026

Dividend yield
Not compiled
Current ratio
6.97

computed: current assets ÷ current liabilities · 26 Aug 2026

Price ÷ Graham number
2.46×

computed: price ÷ Graham number · 25 Mar 2026

Discount to Graham number
−146.1%

computed: (Graham number − price) ÷ Graham number · 25 Mar 2026

Graham's tests

  1. Adequate size

    Revenue of at least US$100m

    Interim
    Not met
  2. Financial strength

    Current ratio of at least 2; long-term debt no more than working capital

    Interim
    Met
  3. Earnings stability

    Positive EPS in each of the past 10 years

    Interim
    No result: data not compiled
  4. Dividend record

    A dividend paid in each of the past 20 years

    Interim
    No result: data not compiled
  5. Earnings growth

    EPS up at least one-third over 10 years, on three-year averages

    Interim
    No result: data not compiled
  6. Moderate P/E

    Price no more than 15 × three-year average EPS

    Interim
    No result: data not compiled
  7. Moderate P/B

    Price no more than 1.5 × BVPS, or P/E × P/B no more than 22.5

    Interim
    No result: data not compiled

Sources and notes

  • Book value (BVPS): attributable · computed: total equity 5,261,548k ÷ 19.6m shares, Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026 (share capital 98,000k, other reserves 40,206k and retained earnings 5,123,342k; no non-controlling interests and no proposed dividend at the period end, the 2025 final having been paid)
  • Price on results day: NSE daily price list 2026-08-26, p.1 · 26 Aug 2026 (NSE daily price list VWAP, the exchange's official end-of-day price. The chairman signed the statements on 25 Aug 2026 and the PDF was created that evening at 18:55, after the market closed, so the first trading day after that is used)
  • Current assets: Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026 (current assets excluding cash 2,487.6m plus cash and bank balances 274.6m)
  • Current liabilities: Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026
  • Long-term debt: Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026 (all non-current liabilities, because the condensed statement does not break them out; an upper bound on long-term debt)
  • KES per US$: CBK daily exchange rates (mean) · 26 Aug 2026
  • EPS, 6 months to 2026-06-30: basic · Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026 (basic and diluted, six-month figure as printed; profit for the period 7,110k against 295,538k a year earlier. Avocado operating profit fell to 215.9m from 394.9m and macadamia to 68.2m from 318.8m; the directors recommend no interim dividend and issued a profit warning that net earnings for 2026 may be at least 25% below 2025)
  • EPS, same 6 months a year earlier: basic · Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026 (six months to 30 Jun 2025 as printed in the 2026 statements)
  • Revenue, 6 months to 2026-06-30: Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026 (sales, down from 1,511.3m, on a lower avocado crop, softer macadamia demand and disrupted shipping routes)
  • Revenue, same 6 months a year earlier: Extract from the interim financial statements for the six months to 30 Jun 2026, p.1 · 26 Aug 2026 (sales for the six months to 30 Jun 2025 as printed in the 2026 statements)

Disclaimer: This profile is published for educational purposes only and does not constitute financial advice. It presents reported company data and arithmetic derived from it — not a recommendation to buy, hold or sell. Investing in securities involves risk, including the possible loss of principal. Readers should conduct their own research and consult with a qualified financial advisor before making investment decisions.

Profile compiled 2026-09-25 from Kakuzi announcement of group results for the year ended 31 Dec 2025 and extract from the interim financial statements for the six months to 30 Jun 2026, with the profit warning published alongside them (issuer filings hosted by NSE, nse.co.ke), NSE daily price lists (nse.co.ke) and CBK daily exchange rates (centralbank.go.ke); primary sources only.