Financials Linkage Assurance Plc

Equities

LINKASSURE

NGLINKASSUR7

Property & Casualty Insurance

End-of-day quote Nigerian S.E. 18:00:00 2024-05-16 EDT 5-day change 1st Jan Change
0.85 NGN +2.41% Intraday chart for Linkage Assurance Plc +2.41% +6.25%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 5,280 5,760 4,240 5,200 7,140 5,600
Enterprise Value (EV) 1 3,524 4,611 2,693 1,607 3,663 1,363
P/E ratio 1.83 x -19.9 x 2.92 x 2.17 x -1.79 x 2.18 x
Yield 7.58% - - - - -
Capitalization / Revenue 0.75 x 0.96 x 0.61 x 0.58 x 0.98 x 0.44 x
EV / Revenue 0.5 x 0.77 x 0.39 x 0.18 x 0.5 x 0.11 x
EV / EBITDA 1.14 x 27.7 x 1.76 x 0.59 x -0.93 x 0.52 x
EV / FCF 2.87 x 1.62 x -153 x 0.14 x -0.53 x 1.55 x
FCF Yield 34.9% 61.8% -0.65% 694% -188% 64.4%
Price to Book 0.26 x 0.32 x 0.18 x 0.2 x 0.28 x 0.23 x
Nbr of stocks (in thousands) 14,000,000 14,000,000 14,000,000 14,000,000 14,000,000 14,000,000
Reference price 2 0.3771 0.4114 0.3029 0.3714 0.5100 0.4000
Announcement Date 5/9/18 4/25/19 3/31/20 3/30/22 3/30/22 4/1/23
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 7,009 6,001 6,935 8,942 7,294 12,682
EBITDA 1 3,103 166.2 1,531 2,714 -3,956 2,623
EBIT 1 2,985 48.53 1,388 2,563 -4,135 2,407
Operating Margin 42.59% 0.81% 20.02% 28.67% -56.7% 18.98%
Earnings before Tax (EBT) 1 2,996 134.7 1,339 2,536 -3,879 2,696
Net income 1 2,891 -290.1 1,452 2,395 -3,991 2,567
Net margin 41.25% -4.83% 20.94% 26.78% -54.71% 20.24%
EPS 2 0.2065 -0.0207 0.1037 0.1711 -0.2850 0.1833
Free Cash Flow 1 1,230 2,848 -17.58 11,154 -6,881 877.7
FCF margin 17.55% 47.46% -0.25% 124.74% -94.34% 6.92%
FCF Conversion (EBITDA) 39.63% 1,713.27% - 411.03% - 33.46%
FCF Conversion (Net income) 42.53% - - 465.74% - 34.19%
Dividend per Share 2 0.0286 - - - - -
Announcement Date 5/9/18 4/25/19 3/31/20 3/30/22 3/30/22 4/1/23
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 1,756 1,149 1,547 3,592 3,477 4,237
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 1,230 2,848 -17.6 11,154 -6,881 878
ROE (net income / shareholders' equity) 15.8% -1.53% 7.09% 9.69% -15.5% 10.3%
ROA (Net income/ Total Assets) 8.55% 0.13% 3.35% 5.12% -7.12% 3.82%
Assets 1 33,814 -222,313 43,391 46,780 56,037 67,136
Book Value Per Share 2 1.430 1.280 1.650 1.880 1.790 1.770
Cash Flow per Share 2 0.1300 0.0900 0.1100 0.2600 0.2500 0.3000
Capex 1 73.4 64.8 150 57.8 298 334
Capex / Sales 1.05% 1.08% 2.16% 0.65% 4.09% 2.64%
Announcement Date 5/9/18 4/25/19 3/31/20 3/30/22 3/30/22 4/1/23
1NGN in Million2NGN
Estimates
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