Financials Presco Plc

Equities

PRESCO

NGPRESCO0005

Food Processing

End-of-day quote Nigerian S.E. 06:00:00 2024-06-04 pm EDT 5-day change 1st Jan Change
293.9 NGN 0.00% Intraday chart for Presco Plc +9.99% +52.28%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 64,000 47,500 70,950 87,800 137,500 193,000
Enterprise Value (EV) 1 79,735 67,245 88,185 124,445 193,624 253,578
P/E ratio 14.9 x 12.4 x 13.5 x 4.54 x 10.6 x 5.87 x
Yield 3.13% 4.21% 2.82% 8.66% 6.4% 13.6%
Capitalization / Revenue 3 x 2.41 x 2.97 x 1.85 x 1.7 x 1.88 x
EV / Revenue 3.74 x 3.41 x 3.69 x 2.62 x 2.39 x 2.48 x
EV / EBITDA 8.97 x 7.02 x 7.17 x 3.95 x 6 x 4.32 x
EV / FCF -7.79 x -14.9 x 1,972 x 4.35 x -23.6 x -25.8 x
FCF Yield -12.8% -6.7% 0.05% 23% -4.24% -3.88%
Price to Book 2.65 x 1.7 x 2.28 x 2.95 x 4.03 x 3.38 x
Nbr of stocks (in thousands) 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Reference price 2 64.00 47.50 70.95 87.80 137.5 193.0
Announcement Date 6/1/19 5/29/20 4/1/21 5/19/22 8/3/23 4/30/24
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 21,345 19,724 23,892 47,426 81,030 102,419
EBITDA 1 8,894 9,573 12,306 31,472 32,260 58,747
EBIT 1 7,611 8,142 10,547 28,853 28,221 54,760
Operating Margin 35.66% 41.28% 44.15% 60.84% 34.83% 53.47%
Earnings before Tax (EBT) 1 6,321 6,060 8,690 26,378 19,815 50,007
Net income 1 4,284 3,839 5,262 19,320 13,032 32,861
Net margin 20.07% 19.46% 22.02% 40.74% 16.08% 32.09%
EPS 2 4.284 3.839 5.260 19.32 13.03 32.86
Free Cash Flow 1 -10,230 -4,506 44.72 28,589 -8,202 -9,845
FCF margin -47.93% -22.85% 0.19% 60.28% -10.12% -9.61%
FCF Conversion (EBITDA) - - 0.36% 90.84% - -
FCF Conversion (Net income) - - 0.85% 147.98% - -
Dividend per Share 2 2.000 2.000 2.000 7.600 8.800 26.30
Announcement Date 6/1/19 5/29/20 4/1/21 5/19/22 8/3/23 4/30/24
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 15,735 19,745 17,235 36,645 56,124 60,578
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.769 x 2.062 x 1.4 x 1.164 x 1.74 x 1.031 x
Free Cash Flow 1 -10,230 -4,506 44.7 28,589 -8,202 -9,845
ROE (net income / shareholders' equity) 18.6% 14.7% 17.9% 63.5% 40.8% 72%
ROA (Net income/ Total Assets) 9.09% 7.83% 9.11% 16.8% 12.9% 22.6%
Assets 1 47,134 49,031 57,784 114,836 100,850 145,313
Book Value Per Share 2 24.20 27.90 31.10 29.80 34.20 57.20
Cash Flow per Share 2 2.550 5.210 2.590 22.40 10.10 9.790
Capex 1 17,688 7,150 7,383 5,388 12,540 12,420
Capex / Sales 82.87% 36.25% 30.9% 11.36% 15.48% 12.13%
Announcement Date 6/1/19 5/29/20 4/1/21 5/19/22 8/3/23 4/30/24
1NGN in Million2NGN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
293.9 NGN
Average target price
297 NGN
Spread / Average Target
+1.05%
Consensus

Annual profits - Rate of surprise