Financials AXA Mansard Insurance Plc

Equities

MANSARD

NGGTASSURE05

Life & Health Insurance

End-of-day quote Nigerian S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
5.44 NGN 0.00% Intraday chart for AXA Mansard Insurance Plc -1.09% -1.09%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 19,839 18,811 20,353 37,006 20,691 17,814
Enterprise Value (EV) 1 17,802 16,921 9,664 17,963 6,690 7,377
P/E ratio 10.2 x 8.71 x 7.67 x 5.27 x 6.63 x 6.9 x
Yield 3.11% - - 5.24% 10.8% 18%
Capitalization / Revenue 0.87 x 0.68 x 0.58 x 0.88 x 0.47 x 0.32 x
EV / Revenue 0.78 x 0.61 x 0.28 x 0.43 x 0.15 x 0.13 x
EV / EBITDA 4.23 x 3.96 x 1.78 x 2.06 x 1.19 x 1.47 x
EV / FCF 2.52 x -4.34 x 1.4 x 6.23 x 1.31 x 4.08 x
FCF Yield 39.7% -23.1% 71.4% 16% 76.2% 24.5%
Price to Book 0.98 x 0.9 x 0.81 x 1.1 x 0.69 x 0.62 x
Nbr of stocks (in thousands) 8,811,056 8,811,056 8,811,056 8,811,056 8,918,489 8,907,071
Reference price 2 2.252 2.135 2.310 4.200 2.320 2.000
Announcement Date 3/30/18 3/29/19 5/5/20 1/29/21 3/30/22 3/31/23
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 22,881 27,776 35,062 42,074 44,219 55,655
EBITDA 1 4,207 4,277 5,435 8,700 5,642 5,019
EBIT 1 3,792 3,828 5,006 8,198 5,035 4,249
Operating Margin 16.57% 13.78% 14.28% 19.48% 11.39% 7.63%
Earnings before Tax (EBT) 1 3,232 3,380 3,928 5,870 5,785 3,377
Net income 1 1,978 2,204 2,709 4,601 3,165 2,649
Net margin 8.64% 7.94% 7.73% 10.93% 7.16% 4.76%
EPS 2 0.2200 0.2452 0.3010 0.7976 0.3500 0.2900
Free Cash Flow 1 7,068 -3,901 6,905 2,883 5,101 1,806
FCF margin 30.89% -14.04% 19.69% 6.85% 11.54% 3.25%
FCF Conversion (EBITDA) 168.01% - 127.05% 33.14% 90.4% 35.99%
FCF Conversion (Net income) 357.33% - 254.92% 62.66% 161.17% 68.2%
Dividend per Share 2 0.0700 - - 0.2200 0.2500 0.3600
Announcement Date 3/30/18 3/29/19 5/5/20 1/29/21 3/30/22 3/31/23
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 2,037 1,890 10,689 19,043 14,001 10,437
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 7,068 -3,901 6,905 2,883 5,101 1,806
ROE (net income / shareholders' equity) 12.2% 10.1% 10.5% 12.7% 10.4% 7.21%
ROA (Net income/ Total Assets) 3.9% 3.41% 3.77% 5.35% 3.17% 2.53%
Assets 1 50,708 64,651 71,888 86,006 99,822 104,878
Book Value Per Share 2 2.290 2.360 2.850 3.820 3.360 3.240
Cash Flow per Share 2 0.6000 0.6100 2.020 2.560 1.940 1.510
Capex 1 359 615 556 1,020 1,004 1,119
Capex / Sales 1.57% 2.21% 1.58% 2.42% 2.27% 2.01%
Announcement Date 3/30/18 3/29/19 5/5/20 1/29/21 3/30/22 3/31/23
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
5.44 NGN
Average target price
6.3 NGN
Spread / Average Target
+15.81%
Consensus
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