₦airaland Forum

#CWG
COGS:75%(gulps revenue)

Gross profit: 25%

Net income: 8.5%(thin margin)

Operating expenses just 12%(efficienct)

Operating income 12%.

ROE=56%(impressive)
Return on Capital Employed ROCE=80%!! (impressive!)

Working capital(WC)= 8bn.
Out of this 8bn, they have a Work in progress(WIP) asset yet to be deployed= 7bn.
So they are very-very low on liquidity beyond current operations(working-capital).


Any Long term investors will really need to be patient at least I think the stock hardly follows the ASI volatility that much and moves more organic most of the time.
from low to no significant long term debt is a big boost to future returns to investors..

nosa2:
I have EPS of N2.22

Post has been modified from 3.20 to 2.22. I used the wrong OS in my calculation

zendi:
The performance is impressive, everybody agrees. But the price has ceased to be sexy enough to move us like those who got SCOA before the pumping started.

Sorry if this comment reads like a joint work of Nosa and Agba.

ETRANZACT needs to correct properly

https://www.youtube.com/watch?v=lqxM5PnsFrY

A walkthrough Okomu and Presco interim audited FY 2025 earnings

Royalex has take the route of Ci leasing. This has been my fear with these turn around stocks.
What could be responsible for the loss in 2025 q4?

Cc: Stockpromoter

leo1234:
I hope their q4 result will not disappoint us like Ci leasing 2025 q1 result?

PropTrader:
Well, the figures are in and RoyalExchage underperformed. Although it chose to report only year to date figures, if you compare the 12 months PBT of N924m to the nine months figure, you wil deduce that it made a loss of N561 in Q4 2025 which is no where near the N1 billion you projected.

I am not sure of what will push prices up in the short run the way you expect as the NIIRA act effect seems to have cooled and the uptrend in NGX also seems to be selective for now.

With current shareholder funds of only N7.6billion, the company will need to look for new capital within the next 5 months to re-capitalise the following subsidiaries

- Royal Exchange General Insurance: Minimum capital specified by NIIRA is 2025 N15 billion
- Royal Exchange Prudential Life: minimum capital specified by NIIRA is 2025 N10 billion
- Royal Exchange Microfinance Bank: CBN minimum capital for different categories of MFBs range from N50m to N5 billion

This company is prime candidate for merger, or acquisition or massive RI/PO/PP to raise at least N17 billion before July 31, 2025.

17 billion is quite large.

The best bet should be merger or acquisition.

My I B results was good.Na just OS be the big change

Agbalowomeri:
Lol don't discourage a newbie
Not a bad selection for a starter but not much profit to expect

What are you buying sir? Have never seen you share anything like it.

awesomeJ:
Chams Q4: over 50% earnings drop yoy

What is the present EPS of Chams Plc. N0.10 or N0.07 ?

leo1234:
Royalex has take the route of Ci leasing. This has been my fear with these turn around stocks.
What could be responsible for the loss in 2025 q4?

Cc: Stockpromoter

What is the present EPS of Royalex Plc. N0.22 or N0.11 ?

Agbalowomeri:
If you have funds you are willing to keep away for five years and you are not under any pressure for dividend, buy Custodian and Transcorp after Q1

Thanks sir, I got my answer.

EDUECO:
The money wey u take buy FirstHoldco you suppose use am buy UBA or WEMA Bank.

What is the present EPS of Wema Bank Plc. N7.08 or N4.82 ?

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

I'm so glad I participated in the public offer 🤗. Even though na tashere 100k units

Ginalex:
I'm so glad I participated in the public offer 🤗. Even though na tashere 100k units

Same here. On the last day though. I hope I got it

FIRSTHOLDCO

At First HoldCo we decided to clean house properly. We took a huge one time hit of ₦748bn to admit old bad loans instead of pretending they do not exist. That is why profit looks like it crashed by 92%. Painful headline, but it is a serious long term move.

Why do this now? Because the @cenbank is pushing banks to stop kicking problems down the road. So First HoldCo basically closed the chapter on messy loans from past years which sends a clear message that borrowing has consequences and it helps rebuild trust.

The key point is this: our business itself is STILL strong. It made ₦2.96tn in interest income and ₦1.91tn in net interest income, which gave it the strength to take the clean up and still stay standing.

Now at @FirstBankngr and beyond we go into 2026 lighter, cleaner and better prepared for the recapitalisation era and serious growth.

Bad loans cleared + strong income engine + long term thinking = real value creation 💪🏾🏦🐘 ….

F.Ote💲

https://x.com/i/status/2017642890902573162

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

They made a mistake in TIP EPS. That 3.81 is in Naira, and not in Kobo.

debeey87:
ETRANZACT needs to correct properly

The post was about CWG.

essentialone:
What is the present EPS of Wema Bank Plc. N7.08 or N4.82 ?

The N7.08 figure was calculated using weighted average outstanding shares. N4.82 is the actual figure (not looking at my spreadsheet right now).

P.S this was the stock I was referring to in my previous post.

Ote$ has something to say about Firstbank's poor report. They simply took a hit from bad loans.

Multiverse unaudited 4th Quarter 2025 submitted to ngx, when compared to 3rd Quarter 2025 earlier submitted, there are a lot of discrepancies. The numbers do not add up.

Raider76:
FIRSTHOLDCO will shoot up like a growth stock once the current management sort all the problems of the NPLs of the past. I quote the following from the Nairametrics report;

"The profit decline can primarily be attributed to impairment charges for losses, particularly loans and advances to customers, amounting to N710 billion."

We all know of at least 2 major battles in court the bank is fighting to recover money from debtors who are trying to run away with billions of dollars they took from the bank in its yahoo days. Many banks would have collapsed under the weight of such NPLs. Imagine if all such loans were recovered. I will be surprised if the SP of FIRSTHOLDCO dips much after tomorrow.

Despite paying them off at present.
The move Ote$ might play going forward is to try and get back those loans via write-backs in future. Bus restructuring, court-cases or sell collaterals.
It will come of as a line item as q huge one-off income to boost earnings.
He may not give up on thw loans despite making provisions for them.

So presco did over 156 in eps without considering the right issue dilution.

A clear message to who can decode it.

This one that agba is recommending stocks for people I hope it's not what I'm thinking.

Oyel money sweet well well.

CAP, BERGER, MEYER
https://businessday.ng/market-intelligence/article/cap-berger-meyer-which-performed-better-in-2025/

NSEMPA analysts were kinda in Sync with this.

essentialone:
They made a mistake in TIP EPS. That 3.81 is in Naira, and not in Kobo.

Yeah they made a mistake with the symbol, the stock at less than 5x of EPS juicy stuff

Bigdeal01:
Ote$ has something to say about Firstbank's poor report. They simply took a hit from bad loans.

Dude needs to fire his security advisor . His investment strategies are not so good.

CWG fair price is N70.

Don’t focus on short term headwinds just look at long term. The business model remains very solid, well positioned to benefit from government’s digital economy transformation and broadband growth.

Therefore, when the weak hands are shakened out refuse to sell your holding cheap and buy back at expensive price later or now trying to catch a moving train.

Ire o.

essentialone:
What is the present EPS of Royalex Plc. N0.22 or N0.11 ?

0.22

Last year was 0.30



Overall, the company made significant improvements in key areas like

Free cash

Retained earnings from 939 million deficit to 4.8 million surplus

Investments eg real estate, treasurybills and corporate papers with full divestment from equity

Share of profits from associates

Assets

Total equity

No significant borrowing

Aggressive loan write-off of 229.4 million reducing impairment significantly

Administrative expenses reduced by 4.5%

Coolcash1:
CWG fair price is N70.

Don’t focus on short term headwinds just look at long term. The business model remains very solid, well positioned to benefit from government’s digital economy transformation and broadband growth.

Therefore, when the weak hands are shakened out refuse to sell your holding cheap and buy back at expensive price later or now trying to catch a moving train.

Ire o.

Oga, which valuation method did you use to arrive at N70 fair price for CWG?

pluto09:
Oga, which valuation method did you use to arrive at N70 fair price for CWG?

CWG appears to have already priced in much of the upside; my fair value range is ₦16–₦33. PZ is the better bet based on its six-month results and forward projections, with a fair value range of ₦61–₦115.

zendi:
The post was about CWG.

I know

Investment remains an expectation of the future. But, now that the interim results have been dropped. This will be a good time to quickly reshuffle the portfolio to discard those that failed to meet expectation and buy more those that did wonderfully well before corporate actions are declared. You can't be 100% on the upside, but your wins should be more than your loss. I have penciled out those that will go and more to be bought without actually committing fresh funds.

It seem Otedola is acquiring more FBN shares in anticipation of seeing through merger with GTB.

Still speculative though.