Financials Conoil Plc

Equities

CONOIL

NGCONOIL0003

Oil & Gas Refining and Marketing

End-of-day quote Nigerian S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
90.9 NGN 0.00% Intraday chart for Conoil Plc 0.00% +8.34%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 19,431 16,134 12,838 14,469 15,267 18,390
Enterprise Value (EV) 1 -1,165 5,548 14,908 8,764 15,959 18,214
P/E ratio 12.3 x 8.98 x 6.51 x 10 x 4.95 x 3.71 x
Yield 7.14% 8.6% 10.8% 7.19% 11.4% 9.43%
Capitalization / Revenue 0.17 x 0.13 x 0.09 x 0.12 x 0.12 x 0.14 x
EV / Revenue -0.01 x 0.05 x 0.11 x 0.07 x 0.13 x 0.14 x
EV / EBITDA -0.16 x 0.86 x 2.45 x 2.18 x 3.03 x 2.23 x
EV / FCF 0.12 x -0.69 x -1.36 x 0.95 x -2.64 x 12.3 x
FCF Yield 823% -144% -73.5% 106% -37.9% 8.14%
Price to Book 1.09 x 0.88 x 0.66 x 0.74 x 0.7 x 0.74 x
Nbr of stocks (in thousands) 693,952 693,952 693,952 693,952 693,952 693,952
Reference price 2 28.00 23.25 18.50 20.85 22.00 26.50
Announcement Date 6/1/18 7/4/19 6/30/20 5/31/21 4/5/22 5/25/23
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 115,513 122,213 139,758 117,471 126,726 131,422
EBITDA 1 7,361 6,420 6,097 4,023 5,275 8,182
EBIT 1 6,587 5,420 5,080 3,065 4,528 7,657
Operating Margin 5.7% 4.43% 3.63% 2.61% 3.57% 5.83%
Earnings before Tax (EBT) 1 2,305 2,567 2,832 2,145 3,832 6,135
Net income 1 1,579 1,796 1,972 1,440 3,083 4,958
Net margin 1.37% 1.47% 1.41% 1.23% 2.43% 3.77%
EPS 2 2.270 2.588 2.840 2.075 4.440 7.140
Free Cash Flow 1 -9,585 -8,011 -10,965 9,248 -6,042 1,482
FCF margin -8.3% -6.56% -7.85% 7.87% -4.77% 1.13%
FCF Conversion (EBITDA) - - - 229.88% - 18.11%
FCF Conversion (Net income) - - - 642.16% - 29.89%
Dividend per Share 2 2.000 2.000 2.000 1.500 2.500 2.500
Announcement Date 6/1/18 7/4/19 6/30/20 5/31/21 4/5/22 5/25/23
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - 2,070 - 692 -
Net Cash position 1 20,596 10,587 - 5,705 - 176
Leverage (Debt/EBITDA) - - 0.3395 x - 0.1311 x -
Free Cash Flow 1 -9,585 -8,011 -10,965 9,248 -6,042 1,482
ROE (net income / shareholders' equity) 8.68% 9.92% 10.4% 7.39% 14.9% 21.2%
ROA (Net income/ Total Assets) 6.2% 5.47% 5.1% 3.41% 5.5% 7.98%
Assets 1 25,440 32,807 38,665 42,274 56,009 62,099
Book Value Per Share 2 25.80 26.40 28.10 28.10 31.40 36.00
Cash Flow per Share 2 37.10 22.10 10.20 8.490 9.600 8.480
Capex 1 804 1,512 369 132 35.5 8.91
Capex / Sales 0.7% 1.24% 0.26% 0.11% 0.03% 0.01%
Announcement Date 6/1/18 7/4/19 6/30/20 5/31/21 4/5/22 5/25/23
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
90.9 NGN
Average target price
101.6 NGN
Spread / Average Target
+11.79%
Consensus