Financials KCB Group PLC

Equities

End-of-day quote Nairobi S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
30.15 ^KES	+0.50%		+7.87%	+37.67%

Mar. 21	KCB Group PLC Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Mar. 20	Access Holdings Plc agreed to acquire National Bank of Kenya Limited from KCB Group PLC.	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	114,824	165,567	122,433	146,052	122,433	96,886	96,886	-
Enterprise Value (EV) ¹	114,824	165,567	122,433	146,052	122,433	70,375	96,886	96,886
P/E ratio	4.78 x	6.66 x	6.25 x	4.27 x	3 x	1.88 x	1.99 x	1.7 x
Yield	9.35%	6.48%	2.62%	6.6%	5.25%	6.63%	7.74%	12.2%
Capitalization / Revenue	1.6 x	1.96 x	1.27 x	1.34 x	0.94 x	0.43 x	0.48 x	0.42 x
EV / Revenue	1.6 x	1.96 x	1.27 x	1.34 x	0.94 x	0.43 x	0.48 x	0.42 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.01 x	1.34 x	0.86 x	0.85 x	0.61 x	0.41 x	0.35 x	0.3 x
Nbr of stocks (in thousands)	3,066,063	3,066,063	3,213,463	3,213,463	3,213,463	3,213,463	3,213,463	-
Reference price ²	37.45	54.00	38.10	45.45	38.10	30.15	30.15	30.15
Announcement Date	3/6/19	3/12/20	3/17/21	3/16/22	3/15/23	3/21/24	-	-

¹KES in Million²KES

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	71,804	84,303	96,388	109,323	129,905	165,239	200,015	228,478
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	36,803	45,786	53,227	61,557	-	82,088	108,900	128,067
Operating Margin	51.26%	54.31%	55.22%	56.31%	-	49.68%	54.45%	56.05%
Earnings before Tax (EBT) ¹	33,859	36,897	25,719	47,815	57,331	48,452	73,938	87,698
Net income ¹	23,995	25,165	19,604	34,092	40,614	37,462	52,667	62,469
Net margin	33.42%	29.85%	20.34%	31.18%	31.26%	22.67%	26.33%	27.34%
EPS ²	7.830	8.110	6.100	10.64	12.71	11.66	15.15	17.72
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	3.500	3.500	1.000	3.000	2.000	2.000	2.333	3.667
Announcement Date	3/6/19	3/12/20	3/17/21	3/16/22	3/15/23	3/21/24	-	-

¹KES in Million²KES

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	21.9%	20.7%	14.4%	22.4%	21.8%	19.7%	20.5%	20.6%
ROA (Net income/ Total Assets)	3.53%	3.12%	2.08%	3.2%	3.02%	2.3%	2.3%	2.4%
Assets ¹	680,496	806,447	943,208	1,063,779	1,347,049	1,867,826	2,289,870	2,602,875
Book Value Per Share ²	37.10	40.40	44.30	53.40	62.30	73.50	87.00	101.0
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	3/6/19	3/12/20	3/17/21	3/16/22	3/15/23	3/21/24	-	-

¹KES in Million²KES

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

30.15 KES

Average target price

51.24 KES

Spread / Average Target

+69.94%

	1st Jan change	Capi.
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