Financials The CIC Insurance Group Plc

Equities

CIC

KE2000002317

Multiline Insurance & Brokers

End-of-day quote Nairobi S.E. 18:00:00 2024-04-25 EDT 5-day change 1st Jan Change
2.28 KES +3.64% Intraday chart for The CIC Insurance Group Plc -2.56% +1.79%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 14,647 10,096 7,010 5,571 5,780 5,100
Enterprise Value (EV) 1 16,910 10,936 9,049 7,663 6,668 6,131
P/E ratio 29.9 x 16.4 x 22.7 x -23.9 x 9.81 x 4.82 x
Yield 2.14% 3.37% - - - 6.67%
Capitalization / Revenue 0.99 x 0.61 x 0.41 x 0.33 x 0.31 x 0.23 x
EV / Revenue 1.15 x 0.66 x 0.52 x 0.46 x 0.36 x 0.28 x
EV / EBITDA 25.7 x 10.4 x 10.2 x 10.4 x 6.28 x 3.19 x
EV / FCF 23.8 x -11.9 x 12.6 x 5.32 x 2.43 x 1.12 x
FCF Yield 4.19% -8.42% 7.95% 18.8% 41.2% 89.2%
Price to Book 1.94 x 1.28 x 0.89 x 0.73 x 0.73 x 0.6 x
Nbr of stocks (in thousands) 2,615,539 2,615,539 2,615,539 2,615,539 2,615,539 2,615,539
Reference price 2 5.600 3.860 2.680 2.130 2.210 1.950
Announcement Date 18-05-01 19-04-26 20-04-29 21-04-29 22-03-16 23-03-21
1KES in Million2KES
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 14,725 16,459 17,284 16,790 18,706 21,925
EBITDA 1 658.1 1,050 883.6 734.8 1,062 1,920
EBIT 1 481.4 872.7 696 582.3 948 1,857
Operating Margin 3.27% 5.3% 4.03% 3.47% 5.07% 8.47%
Earnings before Tax (EBT) 1 519.2 851.6 385.6 -79.54 959.7 2,030
Net income 1 489.5 615.2 309.3 -232.9 589.4 1,058
Net margin 3.32% 3.74% 1.79% -1.39% 3.15% 4.83%
EPS 2 0.1871 0.2352 0.1183 -0.0890 0.2253 0.4045
Free Cash Flow 1 709.2 -921 719 1,439 2,747 5,468
FCF margin 4.82% -5.6% 4.16% 8.57% 14.69% 24.94%
FCF Conversion (EBITDA) 107.77% - 81.37% 195.9% 258.66% 284.75%
FCF Conversion (Net income) 144.89% - 232.44% - 466.11% 516.84%
Dividend per Share 2 0.1200 0.1300 - - - 0.1300
Announcement Date 18-05-01 19-04-26 20-04-29 21-04-29 22-03-16 23-03-21
1KES in Million2KES
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 2,263 840 2,039 2,092 888 1,031
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 3.439 x 0.7992 x 2.308 x 2.847 x 0.8359 x 0.5368 x
Free Cash Flow 1 709 -921 719 1,439 2,747 5,468
ROE (net income / shareholders' equity) 6.33% 8.06% 4.13% -3.83% 8.56% 13.2%
ROA (Net income/ Total Assets) 1.05% 1.72% 1.27% 0.98% 1.48% 2.63%
Assets 1 46,635 35,800 24,303 -23,709 39,953 40,230
Book Value Per Share 2 2.890 3.020 3.000 2.930 3.050 3.270
Cash Flow per Share 2 1.100 1.650 0.7400 0.7900 1.390 1.450
Capex 1 71.7 54.6 66.9 34.9 63.3 55.7
Capex / Sales 0.49% 0.33% 0.39% 0.21% 0.34% 0.25%
Announcement Date 18-05-01 19-04-26 20-04-29 21-04-29 22-03-16 23-03-21
1KES in Million2KES
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
2.28 KES
Average target price
2.92 KES
Spread / Average Target
+28.07%
Consensus
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