Financials Guaranty Trust Holding Company Plc

Equities

GTCO

NGGTCO000002

Banks

End-of-day quote Nigerian S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
35.5 NGN -1.25% Intraday chart for Guaranty Trust Holding Company Plc +5.97% -12.35%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 825,211 740,797 569,240 490,019 862,860 756,334 - -
Enterprise Value (EV) 1 825,211 740,797 569,240 490,019 862,860 756,334 756,334 756,334
P/E ratio 4.27 x 4.55 x 4.26 x 3.87 x 2.12 x 3.11 x 2.5 x 1.75 x
Yield 9.43% 9.27% 11.5% 13% - 11.8% 14.3% 26.8%
Capitalization / Revenue 2.25 x 1.84 x 1.45 x 1.07 x - 0.95 x 0.82 x 0.63 x
EV / Revenue 2.25 x 1.84 x 1.45 x 1.07 x - 0.95 x 0.82 x 0.63 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.24 x 1.14 x 0.89 x 0.74 x - 0.65 x 0.56 x 0.46 x
Nbr of stocks (in thousands) 27,784,888 22,899,430 21,893,831 21,305,181 21,305,181 21,305,181 - -
Reference price 2 29.70 32.35 26.00 23.00 40.50 35.50 35.50 35.50
Announcement Date 3/2/20 3/19/21 3/7/22 4/17/23 4/9/24 - - -
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 367,490 401,916 393,056 459,983 - 794,763 918,602 1,206,555
EBITDA - - - - - - - -
EBIT 1 236,519 254,477 230,029 226,141 712,262 515,470 602,550 817,387
Operating Margin 64.36% 63.32% 58.52% 49.16% - 64.86% 65.59% 67.75%
Earnings before Tax (EBT) 1 231,708 238,095 221,500 214,200 609,308 433,106 549,704 -
Net income 1 195,382 199,609 172,107 166,737 534,425 332,871 418,284 -
Net margin 53.17% 49.66% 43.79% 36.25% - 41.88% 45.53% -
EPS 2 6.960 7.110 6.100 5.950 19.07 11.42 14.22 20.30
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.800 3.000 3.000 3.000 - 4.180 5.070 9.500
Announcement Date 3/2/20 3/19/21 3/7/22 4/17/23 4/9/24 - - -
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 37.4% 27.1% 20.6% 18.8% - 22.9% 23.4% 28.2%
ROA (Net income/ Total Assets) 6.58% 4.59% 3.4% 2.81% - 3.28% 3.37% 4.1%
Assets 1 2,970,798 4,351,786 5,061,976 5,941,306 - 10,164,010 12,424,250 -
Book Value Per Share 2 24.00 28.40 29.40 31.00 - 54.20 63.10 77.70
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 3/2/20 3/19/21 3/7/22 4/17/23 4/9/24 - - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
35.5 NGN
Average target price
54.83 NGN
Spread / Average Target
+54.46%
Consensus

Annual profits - Rate of surprise

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