Financials Nascon Allied Industries Plc

Equities

NASCON

NGNASCON0005

Food Processing

End-of-day quote Nigerian S.E. 06:00:00 2024-05-30 pm EDT 5-day change 1st Jan Change
40.85 NGN -.--% Intraday chart for Nascon Allied Industries Plc +20.15% -22.48%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 34,310 38,417 34,973 29,409 142,407 110,394 - -
Enterprise Value (EV) 1 33,098 35,188 34,973 25,236 142,407 76,479 64,984 57,115
P/E ratio - - 11.8 x 5.39 x 10.4 x 7.54 x 5.3 x 4.85 x
Yield 3.09% 2.76% 3.03% 9.01% - 4.16% 5.95% 6.49%
Capitalization / Revenue 1.24 x 1.37 x 1.05 x 0.5 x - 1.01 x 0.85 x 0.74 x
EV / Revenue 1.2 x 1.26 x 1.05 x 0.43 x - 0.7 x 0.5 x 0.38 x
EV / EBITDA 6.47 x 5.05 x 5.08 x 2.28 x - 3 x 1.89 x 1.53 x
EV / FCF 35.6 x 8.84 x 9.22 x 11.4 x - 6.1 x 4.06 x 3.99 x
FCF Yield 2.81% 11.3% 10.8% 8.75% - 16.4% 24.6% 25%
Price to Book - - - 1.54 x - 2.59 x 1.87 x 1.47 x
Nbr of stocks (in thousands) 2,702,427 2,702,427 2,702,427 2,702,427 2,702,427 2,702,427 - -
Reference price 2 12.70 14.22 12.94 10.88 52.70 40.85 40.85 40.85
Announcement Date 1/29/20 2/26/21 3/2/22 3/2/23 3/4/24 - - -
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 27,576 28,010 33,280 58,786 - 109,212 130,046 148,997
EBITDA 1 5,113 6,964 6,885 11,074 - 25,468 34,334 37,278
EBIT 1 3,063 4,028 4,317 8,674 - 23,045 31,876 34,668
Operating Margin 11.11% 14.38% 12.97% 14.76% - 21.1% 24.51% 23.27%
Earnings before Tax (EBT) 1 - - 4,238 8,374 - 21,257 30,257 33,041
Net income 1 - - 2,971 5,469 13,728 14,352 20,429 22,309
Net margin - - 8.93% 9.3% - 13.14% 15.71% 14.97%
EPS 2 - - 1.098 2.020 5.078 5.420 7.710 8.420
Free Cash Flow 1 930.8 3,983 3,792 2,209 - 12,532 16,012 14,298
FCF margin 3.38% 14.22% 11.4% 3.76% - 11.47% 12.31% 9.6%
FCF Conversion (EBITDA) 18.2% 57.19% 55.08% 19.95% - 49.21% 46.64% 38.36%
FCF Conversion (Net income) - - 127.65% 40.39% - 87.32% 78.38% 64.09%
Dividend per Share 2 0.3922 0.3922 0.3922 0.9804 - 1.700 2.430 2.650
Announcement Date 1/29/20 2/26/21 3/2/22 3/2/23 3/4/24 - - -
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,213 3,229 - 4,172 - 33,915 45,410 53,279
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 931 3,983 3,792 2,209 - 12,532 16,012 14,298
ROE (net income / shareholders' equity) 16.8% 22.6% 21.7% 32.5% - 39.6% 28.8% 31.1%
ROA (Net income/ Total Assets) - - - 11.4% - 15% 17.7% 16.5%
Assets 1 - - - 48,026 - 95,680 115,418 135,206
Book Value Per Share 2 - - - 7.050 - 15.80 21.80 27.80
Cash Flow per Share - - - - - - - -
Capex 1 5,320 4,038 1,203 1,291 - 2,538 3,152 3,760
Capex / Sales 19.29% 14.42% 3.62% 2.2% - 2.32% 2.42% 2.52%
Announcement Date 1/29/20 2/26/21 3/2/22 3/2/23 3/4/24 - - -
1NGN in Million2NGN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
2
Last Close Price
40.85 NGN
Average target price
40.98 NGN
Spread / Average Target
+0.31%
Consensus

Annual profits - Rate of surprise

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