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5-day change | 1st Jan Change | ||
| 1,180.00 NGN | 0.00% |
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0.00% | +93.76% |
| 13/05 | Dangote Cement in early talks over potential London listing | RE |
| 07/05 | Africa's richest man Dangote plans London listing of cement empire - FT | RE |
Projected Income Statement: Dangote Cement Plc
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 13,83,637 | 16,18,323 | 22,08,090 | 35,80,550 | 43,06,704 | 48,42,126 | 54,65,236 | 62,12,257 |
| Change | - | 16.96% | 36.44% | 62.16% | 20.28% | 12.43% | 12.87% | 13.67% |
| EBITDA 1 | 6,84,595 | 7,08,238 | 8,86,129 | 13,82,016 | 19,81,134 | 23,04,807 | 25,43,768 | 28,42,912 |
| Change | - | 3.45% | 25.12% | 55.96% | 43.35% | 16.34% | 10.37% | 11.76% |
| EBIT 1 | 5,82,491 | 5,85,876 | 7,34,267 | 11,52,042 | 17,65,277 | 20,79,766 | 23,08,422 | 25,98,262 |
| Change | - | 0.58% | 25.33% | 56.9% | 53.23% | 17.82% | 10.99% | 12.56% |
| Interest Paid 1 | -44,942 | -91,655 | -2,83,557 | -5,31,727 | -2,41,562 | -2,08,020 | -1,89,130 | -2,06,430 |
| Earnings before Tax (EBT) 1 | 5,38,366 | 5,24,002 | 5,53,104 | 7,32,537 | 15,32,660 | 18,79,454 | 21,13,690 | 24,06,062 |
| Change | - | -2.67% | 5.55% | 32.44% | 109.23% | 22.63% | 12.46% | 13.83% |
| Net income 1 | 3,61,008 | 3,75,988 | 4,45,214 | 4,98,192 | 10,02,847 | 12,97,876 | 14,61,552 | 16,62,788 |
| Change | - | 4.15% | 18.41% | 11.9% | 101.3% | 29.42% | 12.61% | 13.77% |
| Announcement Date | 01/03/22 | 27/02/23 | 01/03/24 | 01/03/25 | 28/02/26 | - | - | - |
Forecast Balance Sheet: Dangote Cement Plc
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 2,48,318 | 4,51,803 | - | 22,13,910 | 7,92,824 | 3,66,760 | -1,35,240 | -4,70,260 |
| Change | - | 81.95% | - | - | -64.19% | -53.74% | -136.87% | -247.72% |
| Announcement Date | 01/03/22 | 27/02/23 | 01/03/24 | 01/03/25 | 28/02/26 | - | - | - |
Cash Flow Forecast: Dangote Cement Plc
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| CAPEX 1 | 1,58,508 | 65,945 | 1,02,176 | 4,13,777 | 8,61,089 | 5,92,455 | 4,48,769 | 3,25,272 |
| Change | - | -58.4% | 54.94% | 304.96% | 108.1% | -31.2% | -24.25% | -27.52% |
| Free Cash Flow (FCF) 1 | 4,38,201 | 3,13,222 | 5,38,568 | 4,07,303 | 8,49,673 | 10,38,236 | 14,20,412 | 17,05,687 |
| Change | - | -28.52% | 71.94% | -24.37% | 108.61% | 22.19% | 36.81% | 20.08% |
| Announcement Date | 01/03/22 | 27/02/23 | 01/03/24 | 01/03/25 | 28/02/26 | - | - | - |
Forecast Financial Ratios: Dangote Cement Plc
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
Profitability | ||||||||
| EBITDA Margin (%) | 49.48% | 43.76% | 40.13% | 38.6% | 46% | 47.6% | 46.54% | 45.76% |
| EBIT Margin (%) | 42.1% | 36.2% | 33.25% | 32.18% | 40.99% | 42.95% | 42.24% | 41.82% |
| EBT Margin (%) | 38.91% | 32.38% | 25.05% | 20.46% | 35.59% | 38.81% | 38.68% | 38.73% |
| Net margin (%) | 26.09% | 23.23% | 20.16% | 13.91% | 23.29% | 26.8% | 26.74% | 26.77% |
| FCF margin (%) | 31.67% | 19.35% | 24.39% | 11.38% | 19.73% | 21.44% | 25.99% | 27.46% |
| FCF / Net Income (%) | 121.38% | 83.31% | 120.97% | 81.76% | 84.73% | 80% | 97.19% | 102.58% |
Profitability | ||||||||
| ROA | 16.36% | 15.02% | 13.59% | 9.63% | 16.12% | 20% | 20.6% | 21.35% |
| ROE | 39.21% | 37.23% | 32.43% | 26.13% | 43.2% | 43.3% | 42.15% | 42.55% |
Financial Health | ||||||||
| Leverage (Debt/EBITDA) | 0.36x | 0.64x | - | 1.6x | 0.4x | 0.16x | - | - |
| Debt / Free cash flow | 0.57x | 1.44x | - | 5.44x | 0.93x | 0.35x | - | - |
Capital Intensity | ||||||||
| CAPEX / Current Assets (%) | 11.46% | 4.07% | 4.63% | 11.56% | 19.99% | 12.24% | 8.21% | 5.24% |
| CAPEX / EBITDA (%) | 23.15% | 9.31% | 11.53% | 29.94% | 43.46% | 25.71% | 17.64% | 11.44% |
| CAPEX / FCF (%) | 36.17% | 21.05% | 18.97% | 101.59% | 101.34% | 57.06% | 31.59% | 19.07% |
Items per share | ||||||||
| Cash flow per share 1 | - | 22.98 | 40.36 | 49.02 | - | - | - | - |
| Change | - | - | 75.67% | 21.44% | - | - | - | - |
| Dividend per Share 1 | 20 | 20 | 30 | 30 | 45 | 60 | 75 | 92.9 |
| Change | - | 0% | 50% | 0% | 50% | 33.33% | 25% | 23.87% |
| Book Value Per Share 1 | 56.79 | 62.46 | 100.9 | 126.7 | 150.4 | 188.4 | 229.7 | 261.1 |
| Change | - | 10% | 61.61% | 25.49% | 18.76% | 25.22% | 21.92% | 13.68% |
| EPS 1 | 21.24 | 22.27 | - | 29.74 | 59.86 | 77 | 86.77 | 98.66 |
| Change | - | 4.85% | - | - | 101.28% | 28.64% | 12.68% | 13.7% |
| Nbr of stocks (in thousands) | 1,70,00,307 | 1,68,73,559 | 1,67,52,155 | 1,67,52,155 | 1,67,52,155 | 1,67,52,155 | 1,67,52,155 | 1,67,52,155 |
| Announcement Date | 01/03/22 | 27/02/23 | 01/03/24 | 01/03/25 | 28/02/26 | - | - | - |
| 2026 * | 2027 * | |
|---|---|---|
| P/E ratio | 15.3x | 13.6x |
| PBR | 6.26x | 5.14x |
| EV / Sales | 4.16x | 3.59x |
| Yield | 5.08% | 6.36% |
EPS & Dividend
Y-o-Y evolution of P/E
Year-on-year evolution of the Yield
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