Karooooo Ltd.
KARO Nasdaq Services-Prepackaged Software Financials FY2019–FY2026
Last close · Oct 23, 2026
$64.07
0.7%
Revenue
Total sales reported in the income statement.
$313M
25.4%
vs prior year
Operating margin
Operating income as a share of revenue.
25.8%
2.9 pts
Net income
Profit after all expenses, interest and tax.
$56.8M
12.8%
Free cash flow
Cash from operations minus capital spending.
$46.3M
7.1%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
37.2%
3.0 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$2.0B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
34.8x
On $1.84 EPS (TTM)
What Karooooo Ltd. does
No business description yet.
- Legal name
- Karooooo Ltd.
- Fiscal year ends
- February 28, 2026
- Latest annual report
- 20-F · Jun 9, 2026
- Accession · CIK
- 0001213900-26-066795
0001828102
Revenue and margins
Karooooo Ltd. had $313M of revenue in fiscal 2026, up 25.4% on the year before.
FY19
Revenue $125M
FY20
Revenue $133M
FY21
Revenue $139M
FY22
Revenue $185M
FY23
Revenue $210M
FY24
Revenue $225M
FY25
Revenue $250M
FY26
Revenue $313M
Q1 '24
Revenue $53.9M
Q1 '25
Revenue $57.8M
FY19
Gross 71.4%
Operating 29.5%
Net 14.0%
FCF 3.0%
FY20
Gross 70.4%
Operating 32.5%
Net 14.9%
FCF 26.4%
FY21
Gross 70.7%
Operating 31.7%
Net 13.9%
FCF 20.1%
FY22
Gross 66.4%
Operating 25.5%
Net 16.4%
FCF 13.8%
FY23
Gross 64.8%
Operating 25.1%
Net 17.0%
FCF 15.6%
FY24
Gross 64.0%
Operating 24.8%
Net 17.6%
FCF 1.9%
FY25
Gross 70.1%
Operating 28.7%
Net 20.2%
FCF 19.9%
FY26
Gross 68.0%
Operating 25.8%
Net 18.1%
FCF 14.8%
Gross
Operating
Net
FCF
Q1 '24
Gross 62.9%
Operating 22.5%
Net 15.8%
FCF 15.8%
Q1 '25
Gross 69.1%
Operating 27.7%
Net 20.5%
FCF 52.6%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income $17.5M
FY20
Net income $19.9M
FY21
Net income $19.3M
FY22
Net income $30.3M
FY23
Net income $35.7M
FY24
Net income $39.5M
FY25
Net income $50.4M
FY26
Net income $56.8M
Q1 '24
Net income $8.5M
Q1 '25
Net income $11.8M
FY19
Diluted EPS —
FY20
Diluted EPS —
FY21
Diluted EPS $0.95
FY22
Diluted EPS $1.03
FY23
Diluted EPS $1.15
FY24
Diluted EPS $1.28
FY25
Diluted EPS $1.63
FY26
Diluted EPS $1.84
Q1 '24
Diluted EPS $0.28
Q1 '25
Diluted EPS $0.38
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity 29.2%
Return on assets —
FY20
Return on capital —
Return on equity 34.1%
Return on assets 16.8%
FY21
Return on capital 58.1%
Return on equity 33.9%
Return on assets 12.3%
FY22
Return on capital 35.1%
Return on equity 30.8%
Return on assets 15.3%
FY23
Return on capital 39.0%
Return on equity 25.2%
Return on assets 17.7%
FY24
Return on capital 29.9%
Return on equity 26.5%
Return on assets 18.5%
FY25
Return on capital 40.2%
Return on equity 30.8%
Return on assets 20.2%
FY26
Return on capital 37.2%
Return on equity 29.9%
Return on assets 17.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $46.3M in fiscal 2026, 14.8% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow $3.7M
FY20
Free cash flow $35.1M
FY21
Free cash flow $27.9M
FY22
Free cash flow $25.5M
FY23
Free cash flow $32.7M
FY24
Free cash flow $4.2M
FY25
Free cash flow $49.8M
FY26
Free cash flow $46.3M
Q1 '24
Free cash flow $8.5M
Q1 '25
Free cash flow $30.4M
FY19
Cash from operations $34.9M
Capital spending $31.2M
FY20
Cash from operations $61.8M
Capital spending $26.6M
FY21
Cash from operations $56.8M
Capital spending $29.0M
FY22
Cash from operations $62.8M
Capital spending $37.2M
FY23
Cash from operations $67.4M
Capital spending $34.7M
FY24
Cash from operations $51.1M
Capital spending $46.9M
FY25
Cash from operations $106M
Capital spending $55.9M
FY26
Cash from operations $113M
Capital spending $66.2M
Cash from operations
Capital spending
Q1 '24
Cash from operations $18.4M
Capital spending $9.9M
Q1 '25
Cash from operations $44.7M
Capital spending $14.3M
Cash from operations
Capital spending
Dividends, buybacks and share count
Karooooo Ltd. returned $39.7M to shareholders in fiscal 2026, 86% of free cash flow. The diluted share count fell 0.0%.
FY19
Dividends $11.0M
Buybacks —
FY20
Dividends $6.3M
Buybacks —
FY21
Dividends $25.3M
Buybacks —
FY22
Dividends $0.5M
Buybacks —
FY23
Dividends $19.8M
Buybacks —
FY24
Dividends $26.7M
Buybacks —
FY25
Dividends $33.5M
Buybacks —
FY26
Dividends $39.7M
Buybacks —
Dividends
Buybacks
Q1 '24
Dividends $27.0M
Buybacks —
Q1 '25
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 20.33B
FY20
Diluted shares 20.33B
FY21
Diluted shares 20.33B
FY22
Diluted shares 0.03B
FY23
Diluted shares 0.03B
FY24
Diluted shares 0.03B
FY25
Diluted shares 0.03B
FY26
Diluted shares 0.03B
Balance sheet
Cash, debt and the ratios that show how comfortably Karooooo Ltd. can carry it.
FY19
Cash —
Debt —
FY20
Cash —
Debt —
FY21
Cash $5.1M
Debt $1.9M
FY22
Cash $46.5M
Debt $0.9M
FY23
Cash $52.5M
Debt $0.0M
FY24
Cash $23.8M
Debt $2.5M
FY25
Cash $56.6M
Debt $17.1M
FY26
Cash $72.4M
Debt $28.1M
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $46.5M | $52.5M | $23.8M | $56.6M | $72.4M |
| Debt incl. finance leases | $0.9M | $0.0M | $2.5M | $17.1M | $28.1M |
| Net debt / EBITDA | −0.6x | −0.6x | −0.2x | −0.4x | −0.3x |
| Debt / equity | 0.0x | 0.0x | 0.0x | 0.1x | 0.1x |
| Interest coverage | 56.7x | 87.4x | 65.9x | 25.8x | 18.2x |
| Current ratio | 1.8x | 1.9x | 1.6x | 1.1x | 1.1x |
| Quick ratio | 1.7x | 1.8x | 1.5x | 1.1x | 1.1x |
| Total assets | $200M | $204M | $223M | $276M | $363M |
| Total liabilities | $59.3M | $57.6M | $67.6M | $99.5M | $155M |
| Shareholders' equity | $139M | $145M | $153M | $174M | $206M |
| Net debt (− = net cash) | −$45.6M | −$52.4M | −$21.3M | −$39.5M | −$44.2M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✕ | ✓ | ✓ | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — | ✓ | ✓ | ✕ | ✕ | ✕ |
| Current ratio rose | — | — | ✕ | ✓ | ✓ | ✕ | ✕ | ✕ |
| Share count didn't rise | — | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Gross margin rose | — | ✕ | ✓ | ✕ | ✕ | ✕ | ✓ | ✕ |
| Revenue rose relative to assets | — | — | ✕ | ✓ | ✓ | ✕ | ✕ | ✕ |
| F-score | — / 3 | — / 5 | 5 / 8 | 8 / 9 | 7 / 9 | 5 / 9 | 6 / 9 | 4 / 9 |
| Accruals ratio | — | −35.4% | −23.9% | −16.4% | −15.7% | −5.4% | −22.2% | −17.4% |
| Altman Z'' | — | 5.99 | 2.74 | 6.44 | 6.91 | 6.22 | 5.21 | 4.36 |
8 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $125M | $133M | $139M | $185M | $210M | $225M | $250M | $313M |
| Provision for credit losses | — | — | — | — | — | — | $2.4M | — |
| Gross profit | $89.2M | $93.7M | $98.1M | $123M | $136M | $144M | $175M | $213M |
| Research and development | $3.6M | $3.1M | $6.1M | $10.1M | $10.6M | $11.4M | $12.4M | $15.0M |
| Operating income | $36.9M | $43.2M | $44.0M | $47.1M | $52.7M | $55.8M | $71.8M | $80.9M |
| Interest expense | $2.3M | $1.2M | $0.6M | $0.8M | $0.6M | $0.8M | $2.8M | $4.5M |
| Pretax income | $34.8M | $42.3M | $42.2M | $45.9M | $53.5M | $57.0M | $68.2M | $77.8M |
| Income tax | $8.1M | $11.9M | $12.0M | $13.8M | $17.1M | $16.7M | $16.9M | $19.9M |
| Net income | $17.5M | $19.9M | $19.3M | $30.3M | $35.7M | $39.5M | $50.4M | $56.8M |
| Net income to common | $17.5M | $19.9M | $19.3M | $30.3M | $35.7M | $39.5M | $50.4M | $56.8M |
| Diluted EPS | — | — | $0.95 | $1.03 | $1.15 | $1.28 | $1.63 | $1.84 |
| Diluted shares | 20.33B | 20.33B | 20.33B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B |
| Cash flow | ||||||||
| Cash from operations | $34.9M | $61.8M | $56.8M | $62.8M | $67.4M | $51.1M | $106M | $113M |
| Capital expenditure | $31.2M | $26.6M | $29.0M | $37.2M | $34.7M | $46.9M | $55.9M | $66.2M |
| Free cash flow | $3.7M | $35.1M | $27.9M | $25.5M | $32.7M | $4.2M | $49.8M | $46.3M |
| Depreciation and amortization | — | — | — | $33.5M | $32.6M | $34.7M | $36.2M | $49.8M |
| Acquisitions | — | — | — | $4.5M | — | $0.3M | — | — |
| Dividends paid | $11.0M | $6.3M | $25.3M | $0.5M | $19.8M | $26.7M | $33.5M | $39.7M |
| Dividends and buybacks | $11.0M | $6.3M | $25.3M | $0.5M | $19.8M | $26.7M | $33.5M | $39.7M |
| Balance sheet | ||||||||
| Cash and short-term investments | — | — | $5.1M | $46.5M | $52.5M | $23.8M | $56.6M | $72.4M |
| Total debt | — | — | $1.9M | $0.9M | $0.0M | $2.5M | $17.1M | $28.1M |
| Current assets | — | $36.4M | $88.8M | $72.2M | $79.4M | $75.6M | $89.9M | $110M |
| Current liabilities | — | $26.1M | $96.0M | $40.4M | $42.9M | $48.7M | $78.8M | $105M |
| Inventory | — | $9.7M | — | $1.6M | $4.3M | $0.3M | $0.2M | $0.4M |
| Property and equipment, net | — | $54.9M | $76.1M | $90.1M | $86.5M | $105M | $136M | $198M |
| Goodwill | — | $8.4M | $8.3M | $12.1M | $11.5M | $11.8M | $9.5M | $10.5M |
| Intangible assets | $1.3M | $2.6M | $4.0M | $5.0M | $4.7M | $4.3M | $4.5M | $5.1M |
| Total assets | — | $118M | $195M | $200M | $204M | $223M | $276M | $363M |
| Total liabilities | — | $39.8M | $109M | $59.3M | $57.6M | $67.6M | $99.5M | $155M |
| Shareholders' equity | $60.0M | $56.4M | $57.3M | $139M | $145M | $153M | $174M | $206M |
| Margins | ||||||||
| Gross margin | 71.4% | 70.4% | 70.7% | 66.4% | 64.8% | 64.0% | 70.1% | 68.0% |
| Operating margin | 29.5% | 32.5% | 31.7% | 25.5% | 25.1% | 24.8% | 28.7% | 25.8% |
| EBITDA margin | — | — | — | 43.6% | 40.7% | 40.2% | 43.2% | 41.7% |
| Net margin | 14.0% | 14.9% | 13.9% | 16.4% | 17.0% | 17.6% | 20.2% | 18.1% |
| FCF margin | 3.0% | 26.4% | 20.1% | 13.8% | 15.6% | 1.9% | 19.9% | 14.8% |
| Returns | ||||||||
| Return on capital | — | — | 58.1% | 35.1% | 39.0% | 29.9% | 40.2% | 37.2% |
| Return on capital employed | — | 46.8% | 44.4% | 29.5% | 32.8% | 32.0% | 36.5% | 31.3% |
| Return on equity | 29.2% | 34.1% | 33.9% | 30.8% | 25.2% | 26.5% | 30.8% | 29.9% |
| Return on assets | — | 16.8% | 12.3% | 15.3% | 17.7% | 18.5% | 20.2% | 17.8% |
| Return on tangible equity | 29.8% | 43.8% | 42.9% | 24.8% | 27.8% | 28.8% | 31.5% | 29.9% |
| Growth | ||||||||
| Revenue growth | — | 6.5% | 4.3% | 33.3% | 13.3% | 7.3% | 11.0% | 25.4% |
| Net income growth | — | 13.6% | −3.0% | 57.2% | 17.8% | 10.7% | 27.5% | 12.8% |
| EPS growth | — | — | — | 8.3% | 12.3% | 10.7% | 27.8% | 12.8% |
| FCF growth | — | 847.6% | −20.7% | −8.3% | 28.1% | −87.1% | 1,083.3% | −7.1% |
| Share count change | — | 0.0% | 0.0% | −99.9% | 4.8% | −0.0% | −0.2% | −0.0% |
| Financial health | ||||||||
| Net debt / EBITDA | — | — | — | −0.6x | −0.6x | −0.2x | −0.4x | −0.3x |
| Debt / equity | — | — | 0.0x | 0.0x | 0.0x | 0.0x | 0.1x | 0.1x |
| Interest coverage | 15.9x | 37.5x | 78.1x | 56.7x | 87.4x | 65.9x | 25.8x | 18.2x |
| Current ratio | — | 1.4x | 0.9x | 1.8x | 1.9x | 1.6x | 1.1x | 1.1x |
| Quick ratio | — | 1.0x | 0.9x | 1.7x | 1.8x | 1.5x | 1.1x | 1.1x |
| Capital allocation | ||||||||
| Capex / revenue | 24.9% | 20.0% | 20.9% | 20.1% | 16.5% | 20.8% | 22.4% | 21.1% |
| Payouts / FCF | 295.9% | 18.0% | 90.9% | 1.8% | 60.6% | 634.8% | 67.2% | 85.7% |
| Quality scores | ||||||||
| Piotroski F-score | — | — | 5.0 | 8.0 | 7.0 | 5.0 | 6.0 | 4.0 |
| Altman Z'' | — | 6.0 | 2.7 | 6.4 | 6.9 | 6.2 | 5.2 | 4.4 |
| Accruals ratio | — | −35.4% | −23.9% | −16.4% | −15.7% | −5.4% | −22.2% | −17.4% |
Source: SEC EDGAR XBRL filings (CIK 0001828102). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in ZAR under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.