CLEARVIEW FINANCIAL
Listed companies, explained from their own numbers.
One listed company at a time, from the JSE and abroad: years of published results, a plain-English read of what changed, and a business health score you can check yourself. No buy or sell calls, and no price targets.
Latest analyses
Newest firstProcter & Gamble: sales grew, but operating profit slipped, and payouts matched free cash flow.
A US household and personal care group (Tide, Pampers, Gillette, Olay). FY2021–FY2026 from the audited 10-K; US dollars, US GAAP.
Net sales FY26
$87.03bn
▲ +3.3%
Operating profit
$19.75bn
▼ −3.4%
Operating margin
22.7%
from 24.3%
Business health score
28/ 40
Calculated from P&G’s published numbers using the general rubric. It describes the business and is not a rating.
Clicks Group: profit grew more slowly in FY26, and shareholder payouts rose faster than the cash left after lease payments.
A South African health, beauty and wellness retailer (Clicks, UniCare, The Body Shop) with a pharmaceutical wholesaler, UPD. FY2021–FY2026; FY26 results are reviewed, not yet audited.
Revenue FY26
R50.41bn
▲ +5.4%
Operating profit
R4.90bn
▲ +4.7%
Operating margin
9.7%
from 9.8%
Business health score
30/ 40
Calculated from Clicks’ published numbers using the general rubric. It describes the business and is not a rating.
AVI Limited: profits rose faster than sales, while cash conversion and the balance sheet moved the other way.
A South African branded consumer group covering tea and coffee, snacks, fishing, personal care, and footwear and apparel.
Revenue FY25
R16.02bn
▲ +1.0%
Operating profit
R3.56bn
▲ +7.8%
Operating margin
22.2%
▲ from 20.8%
Business health score
27/ 40
Calculated from AVI’s published numbers using the general rubric. It describes the business and is not a rating.
How a Deep Dive works
Start from the company’s own numbers
Every figure comes from the company’s own annual financial statements and results announcements, several years at a time, so you see the trend and not just one year. Where the latest year is not yet audited, the report says so.
Score it on a public rubric
Four areas (Operations, Liquidity, Solvency and Qualitative) are each scored out of 10. The thresholds are fixed and published, so anyone can reproduce a score.
Read the reasons
Every score comes with what drives it and a plain-English comment. Use the reasons, not just the total, to decide what the numbers mean for you.
A score is a comparison, not a verdict. A higher or lower score is a point of comparison between companies, not a statement that one is better than another. Businesses are built differently: a company that pays out most of its cash will score differently from one that keeps it. Scores are only comparable between companies scored on the same rubric.
Scoring rubrics
All rubrics →General
Non-financial companies, such as retailers, manufacturers and consumer groups.
Read the rubric → Draft v0.95Property
JSE-listed property companies and REITs.
Read the rubric → Draft v0.95Insurance
Life, short-term and composite insurers.
Read the rubric → Draft v0.95Banking
JSE-listed banks and banking groups.
Read the rubric →Clearview Financial also works with small businesses
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