Financials The CIC Insurance Group Plc

Equities

CIC

KE2000002317

Multiline Insurance & Brokers

End-of-day quote Nairobi S.E. 06:00:00 2024-07-04 pm EDT 5-day change 1st Jan Change
2.15 KES -3.15% Intraday chart for The CIC Insurance Group Plc +0.94% -4.02%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 10,096 7,010 5,571 5,780 5,100 5,859
Enterprise Value (EV) 1 10,936 9,049 7,663 6,668 6,131 6,384
P/E ratio 16.4 x 22.7 x -23.9 x 9.81 x 4.82 x 3.91 x
Yield 3.37% - - - 6.67% 5.8%
Capitalization / Revenue 0.61 x 0.41 x 0.33 x 0.31 x 0.23 x 0.2 x
EV / Revenue 0.66 x 0.52 x 0.46 x 0.36 x 0.28 x 0.22 x
EV / EBITDA 10.4 x 10.2 x 10.4 x 6.28 x 3.19 x 2.18 x
EV / FCF -11.9 x 12.6 x 5.32 x 2.43 x 1.12 x 3.73 x
FCF Yield -8.42% 7.95% 18.8% 41.2% 89.2% 26.8%
Price to Book 1.28 x 0.89 x 0.73 x 0.73 x 0.6 x 0.76 x
Nbr of stocks (in thousands) 2,615,539 2,615,539 2,615,539 2,615,539 2,615,539 2,615,539
Reference price 2 3.860 2.680 2.130 2.210 1.950 2.240
Announcement Date 4/26/19 4/29/20 4/29/21 3/16/22 3/21/23 5/23/24
1KES in Million2KES
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 16,459 17,284 16,790 18,706 21,925 28,916
EBITDA 1 1,050 883.6 734.8 1,062 1,920 2,929
EBIT 1 872.7 696 582.3 948 1,857 2,849
Operating Margin 5.3% 4.03% 3.47% 5.07% 8.47% 9.85%
Earnings before Tax (EBT) 1 851.6 385.6 -79.54 959.7 2,030 2,544
Net income 1 615.2 309.3 -232.9 589.4 1,058 1,498
Net margin 3.74% 1.79% -1.39% 3.15% 4.83% 5.18%
EPS 2 0.2352 0.1183 -0.0890 0.2253 0.4045 0.5727
Free Cash Flow 1 -921 719 1,439 2,747 5,468 1,711
FCF margin -5.6% 4.16% 8.57% 14.69% 24.94% 5.92%
FCF Conversion (EBITDA) - 81.37% 195.9% 258.66% 284.75% 58.42%
FCF Conversion (Net income) - 232.44% - 466.11% 516.84% 114.23%
Dividend per Share 2 0.1300 - - - 0.1300 0.1300
Announcement Date 4/26/19 4/29/20 4/29/21 3/16/22 3/21/23 5/23/24
1KES in Million2KES
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 840 2,039 2,092 888 1,031 525
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.7992 x 2.308 x 2.847 x 0.8359 x 0.5368 x 0.1792 x
Free Cash Flow 1 -921 719 1,439 2,747 5,468 1,711
ROE (net income / shareholders' equity) 8.06% 4.13% -3.83% 8.56% 13.2% 19.2%
ROA (Net income/ Total Assets) 1.72% 1.27% 0.98% 1.48% 2.63% 3.8%
Assets 1 35,800 24,303 -23,709 39,953 40,230 39,445
Book Value Per Share 2 3.020 3.000 2.930 3.050 3.270 2.940
Cash Flow per Share 2 1.650 0.7400 0.7900 1.390 1.450 1.860
Capex 1 54.6 66.9 34.9 63.3 55.7 240
Capex / Sales 0.33% 0.39% 0.21% 0.34% 0.25% 0.83%
Announcement Date 4/26/19 4/29/20 4/29/21 3/16/22 3/21/23 5/23/24
1KES in Million2KES
Estimates
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