Financials Royal Exchange Plc

Equities

ROYALEX

NGROYALEX007

Multiline Insurance & Brokers

End-of-day quote Nigerian S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
0.63 NGN 0.00% Intraday chart for Royal Exchange Plc -7.35% 0.00%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 2,448 1,077 1,469 1,273 4,528 5,454
Enterprise Value (EV) 1 -8,315 -5,954 -10,090 -9,349 4,044 5,390
P/E ratio -2.65 x -7.25 x -1.14 x -3.44 x -8.15 x -18.9 x
Yield - - - - - -
Capitalization / Revenue 0.25 x 0.1 x 0.13 x 0.12 x 1.5 x 9.8 x
EV / Revenue -0.86 x -0.53 x -0.89 x -0.9 x 1.34 x 9.69 x
EV / EBITDA -30.6 x -2.96 x -16.9 x -12.3 x -14.5 x 32.6 x
EV / FCF -9.5 x 4.11 x -30.7 x -4.48 x -0.48 x -15.1 x
FCF Yield -10.5% 24.3% -3.25% -22.3% -206% -6.64%
Price to Book 0.44 x 0.21 x 0.37 x 0.35 x 5.31 x 2.59 x
Nbr of stocks (in thousands) 4,895,370 4,895,370 4,895,370 4,895,370 5,145,370 5,145,370
Reference price 2 0.5000 0.2200 0.3000 0.2600 0.8800 1.060
Announcement Date 7/18/18 8/28/19 8/24/20 9/30/21 8/31/22 9/11/23
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 9,676 11,152 11,337 10,353 3,014 556.6
EBITDA 1 271.3 2,013 596.5 757.3 -278.4 165.5
EBIT 1 52.55 1,818 437 630.1 -321.5 158.9
Operating Margin 0.54% 16.31% 3.85% 6.09% -10.67% 28.55%
Earnings before Tax (EBT) 1 -682.1 326.9 -1,013 130 -554.6 -148.3
Net income 1 -969.6 -156.2 -1,359 -388.6 -555.5 -288.5
Net margin -10.02% -1.4% -11.99% -3.75% -18.43% -51.83%
EPS 2 -0.1884 -0.0304 -0.2641 -0.0755 -0.1080 -0.0561
Free Cash Flow 1 874.9 -1,448 328.3 2,087 -8,351 -358
FCF margin 9.04% -12.98% 2.9% 20.16% -277.06% -64.33%
FCF Conversion (EBITDA) 322.45% - 55.03% 275.57% - -
FCF Conversion (Net income) - - - - - -
Dividend per Share - - - - - -
Announcement Date 7/18/18 8/28/19 8/24/20 9/30/21 8/31/22 9/11/23
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 10,763 7,031 11,558 10,622 484 63.6
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 875 -1,448 328 2,087 -8,351 -358
ROE (net income / shareholders' equity) -16.2% -2.93% -20.6% -1.02% -13% -7.31%
ROA (Net income/ Total Assets) 0.1% 3.3% 0.81% 1.22% -0.89% 0.93%
Assets 1 -959,093 -4,726 -168,395 -31,811 62,313 -31,095
Book Value Per Share 2 1.140 1.040 0.8100 0.7500 0.1700 0.4100
Cash Flow per Share 2 2.550 3.250 2.830 2.620 0.5600 0.1200
Capex 1 93.8 66.8 147 123 7.7 10.5
Capex / Sales 0.97% 0.6% 1.29% 1.19% 0.26% 1.88%
Announcement Date 7/18/18 8/28/19 8/24/20 9/30/21 8/31/22 9/11/23
1NGN in Million2NGN
Estimates
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