₦airaland Forum

unite4real:
The share price is already N120 sir

Okay I will use that to adjust the PE ratio, Enterprise Value, EV/EBIT

chimex38:
Retiring as a classroom teacher/ pastor or passive lecturer could also be in the books.

You aint out of the woods yet.

Pastor still possible, yes, as volunteer missionary work.

Classroom teacher ruled out.....how much they go pay me?

Unless na Elon Musk private school, wey go pay in dollars.

emmanuelewumi:
Summary of Nahco result for 2025


Revenue N65.2 billion
Gross profit N38.6 billion

Operating profit N24.8 billion

Earnings Before Interest and Taxes N26.4 billion

Profit after tax N18 billion

Market Capitalization N215 billion

Enterprise Value N210 billion

Stock price N110

Equity N26.5 billion

Debt N6.1 billion

Cash N11.2 billion

Capital expenses N1.3 billion

Capital employed N31.3 billion

Total Asset N53.9 billion

Net Operating cash flow N17.7 billion

Free Cash Flow N16.4 billion

Return on Equity 68%

Return on Capital Employed 85%

Cash Flow Return on Investment 56.5%

Gross Profit/Total Asset 71.6%


Working Capital N7.3 billion

Net profit margin 27.6%

Operating Profit margin 38%

EBIT margin 40.5%

Gross margin 59%

Operating cash flow margin 27%

Free Cash Flow margin 25%

Capex/Sales 2%

Capex/OCF 7.5%

Price Earning ratio 11.9

EV/EBIT 7.9

Good company and good result.
Growth though is slowing down.
They did less business and made less profit in q4 2025 compared to q4 2024

Not sure there is anything nice here. If you discount the 2,363,614,000 from the PBT, you will see it is not as fantastic as you think. Check page where you have other income(sundry other income)

PuristForest:
Nice one RTBriscoe
RT Briscoe – TikTok video

pluto09:
Good company and good result.
Growth though is slowing down.
They did less business and made less profit in q4 2025 compared to q4 2024

But Earnings per share increased by over 38% between last year and now.

Return on Equity of 68% for a company that has debt of about N6 billion compared to their equity of N25 billion or EBIT of over N24 billion is massive

Coupled with the fact.that the business is capital light, CAPEX was less than N2 billion, Capex is about 2% of revenue or 8% of the net operating cash flow

Revenue increased by 22%

Agbalowomeri:
He changed his moniker from INTENDIN

You took this from my mouth.
I was about to say he reminds me of one old intendy.

An excellent result! They can possibly do N8 dividend.
I'm anxious to see MTN too.

emmanuelewumi:
Summary of Nahco result for 2025


Revenue N65.2 billion
Gross profit N38.6 billion

Operating profit N24.8 billion

Earnings Before Interest and Taxes N26.4 billion

Profit after tax N18 billion

Market Capitalization N238 billion

Enterprise Value N233 billion

Stock price N120

Equity N26.5 billion

Debt N6.1 billion

Cash N11.2 billion

Capital expenses N1.3 billion

Capital employed N31.3 billion

Total Asset N53.9 billion

Net Operating cash flow N17.7 billion

Free Cash Flow N16.4 billion

Return on Equity 68%

Return on Capital Employed 85%

Cash Flow Return on Investment 56.5%

Gross Profit/Total Asset 71.6%


Working Capital N7.3 billion

Net profit margin 27.6%

Operating Profit margin 38%

EBIT margin 40.5%

Gross margin 59%

Operating cash flow margin 27%

Free Cash Flow margin 25%

Capex/Sales 2%

Capex/OCF 7.5%

Price Earning ratio 13.2

EV/EBIT 8.9

emmanuelewumi:
Summary of Nahco result for 2025


Revenue N65.2 billion
Gross profit N38.6 billion

Operating profit N24.8 billion

Earnings Before Interest and Taxes N26.4 billion

Profit after tax N18 billion

Market Capitalization N238 billion

Enterprise Value N233 billion

Stock price N120

Equity N26.5 billion

Debt N6.1 billion

Cash N11.2 billion

Capital expenses N1.3 billion

Capital employed N31.3 billion

Total Asset N53.9 billion

Net Operating cash flow N17.7 billion

Free Cash Flow N16.4 billion

Return on Equity 68%

Return on Capital Employed 85%

Cash Flow Return on Investment 56.5%

Gross Profit/Total Asset 71.6%


Working Capital N7.3 billion

Net profit margin 27.6%

Operating Profit margin 38%

EBIT margin 40.5%

Gross margin 59%

Operating cash flow margin 27%

Free Cash Flow margin 25%

Capex/Sales 2%

Capex/OCF 7.5%

Price Earning ratio 13.2

EV/EBIT 8.9

What is the expected dividend coming soon?

ogawisdom:
What is the expected dividend coming soon?

Dividend payout is 90% of profi after tax

So I expect a dividend of N8.30k compared to N5.96k paid last year

emmanuelewumi:
Dividend payout is 90% of profi after tax

So I expect a dividend of N8.30k compared to N5.96k paid last year

That will make a wonderful dividend growth for wealth building. Dividend growing companies are the real wealth builders.

ogawisdom:
That will make a wonderful dividend growth for wealth building. Dividend growing companies are the real wealth builders.

If you know you know .


Imagine buying a stock for N2.20k on 30th January 2021 and you will earn a dividend of N8.30k from the stock by May or June 2026

nosa2:
Please all this my talk of market crash is extremely premature oh!

Nigerian economy is just resuming growth. Even though it seems prices have risen, earnings have risen to justify the new prices. Stanbic for example released result today and despite the recent run up in prices the stock is trading with a PE of less than 5! That stock could easily touch N200 and still be buy.

So even though I believe we would end up in a bubble I don't think we would get there for another 5-7 years.

I understand you completely.

I didn't misquote you. I believe your advice was to always invest/trade with caution. Avoid FOMO and doing proper due diligence when investing.

I only provided additional insights in response to the person I quoted.

Iskalamong!

.

Outstanding performance. RI and PO worth every kobo invested.

ojeysky:
TIP profit and EPS tripled wow!
https://doclib.ngxgroup.com/Financial_NewsDocs/45888_THE_INITIATES_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_JANUARY_2026.pdf

ogawisdom:
That will make a wonderful dividend growth for wealth building. Dividend growing companies are the real wealth builders.

The stock has been that way for long.

Its Nigeria's Nvidia in terms of returns and momentum.

When you consider the dividend payout, dividend yield and dividend growth, its even better.

The stock is growing rapidly in performance, dividend and share price.

Now people are getting acquainted with the stock judging by its current price.

In previous years, it would be trading at N80 by now and when dividend (and result) is announced, it will go past the N100 mark. This makes it not only good for holding for the long haul but also for very easy, almost risk free trading.

But now, it is already trading at N120 (more than 10x of the expected dividend).

I think Nigerian investors are becoming more savvy. Media outlets like Nairametrics e.t.c. may be one of the reasons for this.

There used to be so many mispricings on the NGX especially close to earnings season (especially for the tier one high dividend paying banks).

Iskalamong!

.

.

emmanuelewumi:
If you know you know .


Imagine buying a stock for N2.20k on 30th January 2021 and you will earn a dividend of N8.30k from the stock by May or June 2026

These kinds of opportunities are becoming harder to get these days.

I remember GTCO dropping to N16.80 or so in 2022. For someone who bought then, the capital appreciation as well as cumulative dividends received would be massive. All through these periods, GTCO paid both interim and final dividend. Just market mispricing.

What makes your NAHCO play more attrative is the combination of value and rapid company growth.

Cheers

Iskalamong!

.

zendi:
Pastor still possible, yes, as volunteer missionary work.

Classroom teacher ruled out.....how much they go pay me?

Unless na Elon Musk private school, wey go pay in dollars.

Lol..School teaching fit also be mission work

iskalamong:
The stock has been that way for long.

Its Nigeria's Nvidia in terms of returns and momentum.

When you consider the dividend payout, dividend yield and dividend growth, its even better.

The stock is growing rapidly in performance, dividend and share price.

Now people are getting acquainted with the stock judging by its current price.

In previous years, it would be trading at N80 by now and when dividend (and result) is announced, it will go past the N100 mark. This makes it not only good for holding for the long haul but also for very easy, almost risk free trading.

But now, it is already trading at N120 (more than 10x of the expected dividend).

I think Nigerian investors are becoming more savvy. Media outlets like Nairametrics e.t.c. may be one of the reasons for this.

There used to be so many mispricings in the NGX especially close to earnings season (especially for the tier one high dividend paying banks).

Iskalamong!

.

.

The important thing is that a long term Investor (5 years plus) is heavily rewarded both ways; dividend growth and capital appreciation, what more can one ask for.

A short term Investor (2 years n below) may not get much value.

Shalom428:
My stock pick for 2026 in no particular order

TIP
NAHCO
NASCON
UBA
WAPCO
DANGSUGAR
TRANSCORP

I will set aside funds for DANGOTE FERTILISER, hopefully it will be listed this year.

Shalom

2026 is going to be a good one for discerning investors. TIP and NAHCO don deliver. Expecting another banger from NASCON

Follow The Money

Shalom428:
2026 is going to be a good one for discerning investors. TIP and NAHCO don deliver. Expecting another banger from NASCON

Follow The Money

TIP will change alot of financial stories for those that can hold up to 5years. I hope they allot all the units I asked for in their public offer.

ogawisdom:
TIP will change alot of financial stories for those that can hold up to 5years. I hope they allot all the units I asked for in their public offer.

Patient funds will reap bountifully.

I bought a Toyota Camry from Canada for a total cost of N2.2m in June 2020. If I had put that sum in NAHCO at the time, returns from dividends alone would even buy a better car now but I knew next to nothing about the stock market at the time. Life; time and season.

emmanuelewumi:
If you know you know .


Imagine buying a stock for N2.20k on 30th January 2021 and you will earn a dividend of N8.30k from the stock by May or June 2026

Based on historical trend, NAHCO should pay a DIV of up to ₦8.31

ogawisdom:
TIP will change alot of financial stories for those that can hold up to 5years. I hope they allot all the units I asked for in their public offer.

I also hope so as I applied for as much as I could.
I also sold off all my holdings in Cadbury for N67.95 and deployed all funds into TIP at N14.70 in case I do not get all my allotments on the public offer. I am only guaranteed the rights issue of N7 per share. Although I didn't apply for additional rights because it will only be stupid for people to not take up such rights. I can't go and tie my money down.

GeeKudi:
I bought a Toyota Camry from Canada for a total cost of N2.2m in June 2020. If I had put that sum in NAHCO at the time, returns from dividends alone would even buy a better car now but I knew next to nothing about the stock market at the time. Life; time and season.

The stock price in January 2021 and January 2026

emmanuelewumi:
Summary of Nahco result for 2025


Revenue N65.2 billion
Gross profit N38.6 billion

Operating profit N24.8 billion

Earnings Before Interest and Taxes N26.4 billion

Profit after tax N18 billion

Market Capitalization N238 billion

Enterprise Value N233 billion

Stock price N120

Equity N26.5 billion

Debt N6.1 billion

Cash N11.2 billion

Capital expenses N1.3 billion

Capital employed N31.3 billion

Total Asset N53.9 billion

Net Operating cash flow N17.7 billion

Free Cash Flow N16.4 billion

Return on Equity 68%

Return on Capital Employed 85%

Cash Flow Return on Investment 56.5%

Gross Profit/Total Asset 71.6%


Working Capital N7.3 billion

Net profit margin 27.6%

Operating Profit margin 38%

EBIT margin 40.5%

Gross margin 59%

Operating cash flow margin 27%

Free Cash Flow margin 25%

Capex/Sales 2%

Capex/OCF 7.5%

Price Earning ratio 13.2

EV/EBIT 8.9

Omo, Thesis
Ese

chimex38:
Omo, Thesis
Ese

The beauty of the stock is that CAPEX is very low and yet earning increased by 50% and earning conversion to cash of 94%.


Free Cash Flow at about N17 billion and Profit after Tax at about N18 billion

A silent money spinner.
I got some extra units today...

emmanuelewumi:
The beauty of the stock is that CAPEX is very low and yet earning increased by 50% and earning conversion to cash of 94%.


Free Cash Flow at about N17 billion and Profit after Tax at about N18 billion

In just 5 years!! I'm not sure this sort of growth potential exist again in the market. Sir, can you think of any?

emmanuelewumi:
The stock price in January 2021 and January 2026

GeeKudi:
In just 5 years!! I'm not sure this sort of growth potential exist again in the market. Sir, can you think of any?

N1 million invested in Presco in January 2021 is now worth about N22 million in January 2026.


You can't get this from Banking stocks lailai

Presco stock price in January 2021 and January 2026

chimex38:
Lol..School teaching fit also be mission work

You're quite right.
There are missionary schools all over the place.

emmanuelewumi:
The beauty of the stock is that CAPEX is very low and yet earning increased by 50% and earning conversion to cash of 94%.


Free Cash Flow at about N17 billion and Profit after Tax at about N18 billion

I can see that.
Earnings closely mirrors Cash. Testament to their transaction-collection efficiency.

I read an article today on guardian(below) where they started their export zone about 6months ago..
By the time that Asset-class is run close to full capacity within the next 1-2yrs+..
It's going to be another game changer.