NESTLÉ NIGERIA PLC |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 905 NGN | +0.56% |
|
+0.56% | -17.73% |
| Apr. 30 | Nestlé Nigeria Plc Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Feb. 28 | Nestlé Nigeria Plc Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,165,125 | 1,192,948 | 1,233,769 | 871,922 | 871,922 | 717,354 | - | - |
| Enterprise Value (EV) 1 | 1,171,359 | 1,174,459 | 1,210,118 | 909,471 | 1,106,686 | 899,354 | 834,354 | 717,354 |
| P/E ratio | 25.5 x | 30.4 x | 30.8 x | 17.8 x | -11 x | -6.77 x | 10.5 x | 8.22 x |
| Yield | 4.76% | 4.02% | 3.24% | 4.68% | - | 7.76% | - | 7.86% |
| Capitalization / Revenue | 4.1 x | 4.16 x | 3.51 x | 1.95 x | 1.59 x | 1.01 x | 0.92 x | 0.78 x |
| EV / Revenue | 4.12 x | 4.09 x | 3.44 x | 2.04 x | 2.02 x | 1.27 x | 1.08 x | 0.78 x |
| EV / EBITDA | 14.7 x | 16.3 x | 15.1 x | 9.41 x | 8.17 x | 6.57 x | 4.98 x | 3.76 x |
| EV / FCF | 32.4 x | 14.6 x | 27.9 x | -28.3 x | 51.6 x | 112 x | 11.1 x | 5.92 x |
| FCF Yield | 3.09% | 6.87% | 3.58% | -3.54% | 1.94% | 0.89% | 8.99% | 16.9% |
| Price to Book | 25.6 x | 40.7 x | 57.7 x | 28.8 x | -11 x | -38.7 x | 21.7 x | 4.67 x |
| Nbr of stocks (in thousands) | 792,656 | 792,656 | 792,656 | 792,656 | 792,656 | 792,656 | - | - |
| Reference price 2 | 1,470 | 1,505 | 1,556 | 1,100 | 1,100 | 905.0 | 905.0 | 905.0 |
| Announcement Date | 2/28/20 | 2/26/21 | 3/1/22 | 2/28/23 | 2/27/24 | - | - | - |
1NGN in Million2NGN
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 284,035 | 287,084 | 351,822 | 446,819 | 547,119 | 706,808 | 775,969 | 914,550 |
| EBITDA 1 | 79,513 | 72,170 | 80,375 | 96,619 | 135,461 | 136,922 | 167,664 | 190,755 |
| EBIT 1 | 72,062 | 64,419 | 71,966 | 86,866 | 123,788 | 123,409 | 145,890 | 165,774 |
| Operating Margin | 25.37% | 22.44% | 20.46% | 19.44% | 22.63% | 17.46% | 18.8% | 18.13% |
| Earnings before Tax (EBT) 1 | 71,124 | 60,638 | 61,875 | 71,109 | -104,025 | -163,131 | 101,244 | 127,917 |
| Net income 1 | 45,683 | 39,212 | 40,037 | 48,965 | -79,474 | -106,035 | 68,313 | 87,232 |
| Net margin | 16.08% | 13.66% | 11.38% | 10.96% | -14.53% | -15% | 8.8% | 9.54% |
| EPS 2 | 57.63 | 49.47 | 50.51 | 61.77 | -100.3 | -133.8 | 86.05 | 110.0 |
| Free Cash Flow 1 | 36,182 | 80,694 | 43,359 | -32,157 | 21,455 | 8,000 | 75,000 | 121,195 |
| FCF margin | 12.74% | 28.11% | 12.32% | -7.2% | 3.92% | 1.13% | 9.67% | 13.25% |
| FCF Conversion (EBITDA) | 45.5% | 111.81% | 53.95% | - | 15.84% | 5.84% | 44.73% | 63.53% |
| FCF Conversion (Net income) | 79.2% | 205.79% | 108.3% | - | - | - | 109.79% | 138.93% |
| Dividend per Share 2 | 70.00 | 60.50 | 50.50 | 51.50 | - | 70.20 | - | 71.09 |
| Announcement Date | 2/28/20 | 2/26/21 | 3/1/22 | 2/28/23 | 2/27/24 | - | - | - |
1NGN in Million2NGN
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|
| Net sales | 90,231 | - | - |
| EBITDA | - | - | - |
| EBIT 1 | 15,844 | - | 32,201 |
| Operating Margin | 17.56% | - | - |
| Earnings before Tax (EBT) | 10,291 | - | - |
| Net income 1 | 6,453 | 6,913 | -36,406 |
| Net margin | 7.15% | - | - |
| EPS | 8.140 | 8.720 | - |
| Dividend per Share | - | - | - |
| Announcement Date | 3/1/22 | 10/27/23 | 2/27/24 |
1NGN in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 6,233 | - | - | 37,549 | 234,764 | 182,000 | 117,000 | - |
| Net Cash position 1 | - | 18,489 | 23,651 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.0784 x | - | - | 0.3886 x | 1.733 x | 1.329 x | 0.6978 x | - |
| Free Cash Flow 1 | 36,182 | 80,694 | 43,359 | -32,157 | 21,455 | 8,000 | 75,000 | 121,195 |
| ROE (net income / shareholders' equity) | 95.4% | 105% | 158% | 190% | - | - | 182% | 48.2% |
| ROA (Net income/ Total Assets) | 25.7% | 17.8% | 14.4% | 13.5% | -15.9% | -12.1% | 6.25% | 8.9% |
| Assets 1 | 177,854 | 219,780 | 278,212 | 362,640 | 498,409 | 876,322 | 1,093,013 | 980,135 |
| Book Value Per Share 2 | 57.50 | 37.00 | 27.00 | 38.20 | -100.0 | -23.40 | 41.60 | 194.0 |
| Cash Flow per Share | - | 123.0 | - | - | - | - | - | - |
| Capex 1 | 13,763 | 16,502 | 21,077 | 27,724 | 61,248 | 58,914 | 51,745 | 65,164 |
| Capex / Sales | 4.85% | 5.75% | 5.99% | 6.2% | 11.19% | 8.34% | 6.67% | 7.13% |
| Announcement Date | 2/28/20 | 2/26/21 | 3/1/22 | 2/28/23 | 2/27/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
905
NGN
Average target price
1,246
NGN
Spread / Average Target
+37.63%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -17.73% | 543M | |
| -2.00% | 277B | |
| -5.38% | 91.92B | |
| -4.35% | 42.95B | |
| +0.75% | 41.25B | |
| +6.11% | 40.01B | |
| +5.54% | 38.81B | |
| -13.54% | 30.87B | |
| -11.43% | 27.21B | |
| +7.73% | 24.19B |
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- Financials Nestlé Nigeria Plc
