Financials Coronation Insurance Plc

Equities

WAPIC

NGWAPIC00004

Multiline Insurance & Brokers

End-of-day quote Nigerian S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
0.69 NGN 0.00% Intraday chart for Coronation Insurance Plc +7.81% +1.47%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 6,691 5,621 4,550 9,597 13,435 9,597
Enterprise Value (EV) 1 1,645 2,733 3,501 7,271 6,401 3,779
P/E ratio 4.37 x 16 x 21.2 x 5.76 x -5.19 x -10.2 x
Yield - - - - - -
Capitalization / Revenue 0.8 x 0.62 x 0.43 x 0.92 x 1.22 x 0.84 x
EV / Revenue 0.2 x 0.3 x 0.33 x 0.7 x 0.58 x 0.33 x
EV / EBITDA 11.6 x -7.01 x -11.8 x 29.7 x -2.81 x 10.1 x
EV / FCF 2.07 x 0.81 x -2.11 x -8.91 x 6.97 x 9.7 x
FCF Yield 48.3% 123% -47.4% -11.2% 14.3% 10.3%
Price to Book 0.37 x 0.33 x 0.25 x 0.38 x 0.62 x 0.49 x
Nbr of stocks (in thousands) 13,382,738 13,382,738 13,382,738 23,991,680 23,991,904 23,991,680
Reference price 2 0.5000 0.4200 0.3400 0.4000 0.5600 0.4000
Announcement Date 3/29/18 4/30/19 5/20/20 6/7/21 1/10/23 5/18/23
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 8,366 9,006 10,648 10,439 11,052 11,429
EBITDA 1 142.2 -389.9 -296.1 244.6 -2,280 374.1
EBIT 1 -308.9 -825.5 -729.4 -169.6 -2,709 80.21
Operating Margin -3.69% -9.17% -6.85% -1.62% -24.51% 0.7%
Earnings before Tax (EBT) 1 1,623 187.2 23.62 1,145 -2,112 -783.1
Net income 1 1,531 351.2 214.3 1,202 -2,583 -935.1
Net margin 18.3% 3.9% 2.01% 11.52% -23.37% -8.18%
EPS 2 0.1144 0.0262 0.0160 0.0695 -0.1080 -0.0391
Free Cash Flow 1 793.5 3,364 -1,658 -815.7 917.7 389.8
FCF margin 9.49% 37.35% -15.57% -7.81% 8.3% 3.41%
FCF Conversion (EBITDA) 558.18% - - - - 104.2%
FCF Conversion (Net income) 51.84% 957.86% - - - -
Dividend per Share - - - - - -
Announcement Date 3/29/18 4/30/19 5/20/20 6/7/21 1/10/23 5/18/23
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 5,047 2,888 1,050 2,326 7,035 5,818
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 794 3,364 -1,658 -816 918 390
ROE (net income / shareholders' equity) 8.87% 2% 1.2% 5.53% -11.1% -4.53%
ROA (Net income/ Total Assets) -0.71% -1.75% -1.49% -0.3% -4.26% 0.13%
Assets 1 -216,125 -20,070 -14,365 -399,654 60,659 -722,632
Book Value Per Share 2 1.340 1.280 1.380 1.040 0.9000 0.8200
Cash Flow per Share 2 0.3800 0.2200 0.0900 0.1000 0.2900 0.2400
Capex 1 329 171 198 430 419 468
Capex / Sales 3.93% 1.9% 1.86% 4.12% 3.79% 4.09%
Announcement Date 3/29/18 4/30/19 5/20/20 6/7/21 1/10/23 5/18/23
1NGN in Million2NGN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
0.69 NGN
Average target price
0.65 NGN
Spread / Average Target
-5.80%
Consensus
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