Financials The Nigerian Exchange Group Plc

Equities

NGXGROUP

NGNGXGROUP09

Financial & Commodity Market Operators

End-of-day quote Nigerian S.E. 23:00:00 12/05/2024 BST 5-day change 1st Jan Change
24.75 NGN 0.00% Intraday chart for The Nigerian Exchange Group Plc +10.00% +5.32%

Valuation

Fiscal Period: December 2021 2022 2023
Capitalization 1 39,086 49,201 51,809
Enterprise Value (EV) 1 32,100 57,935 59,126
P/E ratio 17.5 x 71.1 x 9.69 x
Yield - - 4.26%
Capitalization / Revenue 6.07 x 7.19 x 5.61 x
EV / Revenue 4.98 x 8.46 x 6.41 x
EV / EBITDA 43.1 x 54.4 x 16.7 x
EV / FCF -142 x 37.3 x 46.5 x
FCF Yield -0.7% 2.68% 2.15%
Price to Book 1.15 x 1.5 x 1.31 x
Nbr of stocks (in thousands) 1,964,116 1,964,116 2,204,620
Reference price 2 19.90 25.05 23.50
Announcement Date 03/03/22 02/03/23 04/03/24
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 7,219 7,397 5,378 6,440 6,846 9,230
EBITDA 1 1,871 915.7 376.7 745.6 1,065 3,546
EBIT 1 1,496 531.6 -97.68 350.9 647.4 3,191
Operating Margin 20.73% 7.19% -1.82% 5.45% 9.46% 34.57%
Earnings before Tax (EBT) 1 2,805 2,302 1,909 2,401 823.1 5,289
Net income 1 2,703 2,271 1,839 2,248 698.5 5,251
Net margin 37.45% 30.7% 34.2% 34.91% 10.2% 56.89%
EPS - - - 1.134 0.3524 2.426
Free Cash Flow 1 277.4 541 218.3 -225.8 1,555 1,271
FCF margin 3.84% 7.31% 4.06% -3.51% 22.71% 13.77%
FCF Conversion (EBITDA) 14.82% 59.09% 57.96% - 146.04% 35.85%
FCF Conversion (Net income) 10.26% 23.83% 11.87% - 222.59% 24.21%
Dividend per Share - - - - - 1.000
Announcement Date 05/09/19 27/10/20 11/06/21 03/03/22 02/03/23 04/03/24
1NGN in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - 8,734 7,317
Net Cash position 1 11,500 11,549 10,275 6,986 - -
Leverage (Debt/EBITDA) - - - - 8.204 x 2.064 x
Free Cash Flow 1 277 541 218 -226 1,555 1,271
ROE (net income / shareholders' equity) 11% 8.36% 6.16% 6.88% 1.97% 13.8%
ROA (Net income/ Total Assets) 3.35% 1.09% -0.18% 0.6% 0.85% 3.41%
Assets 1 80,594 209,027 -1,013,778 374,071 81,933 153,911
Book Value Per Share - - - 17.40 16.70 17.90
Cash Flow per Share - - - 1.140 2.150 2.980
Capex 1 301 702 349 361 193 186
Capex / Sales 4.16% 9.49% 6.49% 5.61% 2.82% 2.02%
Announcement Date 05/09/19 27/10/20 11/06/21 03/03/22 02/03/23 04/03/24
1NGN in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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