Financials Red Star Express Plc

Equities

REDSTAREX

NGREDSTAREX9

Air Freight & Logistics

End-of-day quote Nigerian S.E. 03:30:00 21/06/2024 am IST 5-day change 1st Jan Change
3.9 NGN 0.00% Intraday chart for Red Star Express Plc 0.00% +22.64%

Valuation

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Capitalization 1 3,537 3,242 2,779 3,150 2,863 2,644
Enterprise Value (EV) 1 3,135 2,844 1,247 2,859 2,872 2,459
P/E ratio 10.2 x 6.95 x 4.3 x 21 x 32.6 x 8.42 x
Yield 6.67% 7.82% 11.7% 1.47% 2.5% 5.42%
Capitalization / Revenue 0.42 x 0.32 x 0.26 x 0.33 x 0.23 x 0.19 x
EV / Revenue 0.37 x 0.28 x 0.12 x 0.3 x 0.23 x 0.18 x
EV / EBITDA 3.35 x 2.52 x 1.24 x 4.55 x 3.06 x 2.14 x
EV / FCF 14.1 x 6.68 x 4.85 x -3.51 x 15.3 x 75.7 x
FCF Yield 7.1% 15% 20.6% -28.5% 6.54% 1.32%
Price to Book 1.4 x 1.17 x 0.64 x 0.74 x 0.68 x 0.58 x
Nbr of stocks (in thousands) 6,07,360 6,07,360 9,54,423 9,54,423 9,54,423 9,54,423
Reference price 2 5.824 5.338 2.912 3.300 3.000 2.770
Announcement Date 28/06/18 28/06/19 28/08/20 30/06/21 30/06/22 06/07/23
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net sales 1 8,408 10,067 10,549 9,458 12,599 13,875
EBITDA 1 936.4 1,128 1,004 628.3 939.6 1,151
EBIT 1 629.8 794.2 690.5 236.1 485.8 647.8
Operating Margin 7.49% 7.89% 6.55% 2.5% 3.86% 4.67%
Earnings before Tax (EBT) 1 610.6 743.5 750.1 220.8 413.9 593.4
Net income 1 347.6 466.2 469 150.1 87.81 313.9
Net margin 4.13% 4.63% 4.45% 1.59% 0.7% 2.26%
EPS 2 0.5722 0.7677 0.6771 0.1572 0.0920 0.3289
Free Cash Flow 1 222.5 425.7 257.2 -813.9 187.8 32.48
FCF margin 2.65% 4.23% 2.44% -8.61% 1.49% 0.23%
FCF Conversion (EBITDA) 23.76% 37.73% 25.62% - 19.98% 2.82%
FCF Conversion (Net income) 64.01% 91.3% 54.84% - 213.85% 10.35%
Dividend per Share 2 0.3882 0.4174 0.3397 0.0485 0.0750 0.1500
Announcement Date 28/06/18 28/06/19 28/08/20 30/06/21 30/06/22 06/07/23
1NGN in Million2NGN
Estimates

Balance Sheet Analysis

Fiscal Period: March 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - 8.97 -
Net Cash position 1 402 398 1,532 290 - 185
Leverage (Debt/EBITDA) - - - - 0.009547 x -
Free Cash Flow 1 222 426 257 -814 188 32.5
ROE (net income / shareholders' equity) 14% 17.6% 13.1% 3.49% 2.08% 7.16%
ROA (Net income/ Total Assets) 8.35% 9.42% 6.7% 1.99% 3.97% 4.93%
Assets 1 4,161 4,951 6,996 7,559 2,211 6,361
Book Value Per Share 2 4.160 4.550 4.590 4.440 4.390 4.800
Cash Flow per Share 2 0.9100 0.8600 1.910 1.000 0.4800 0.6200
Capex 1 377 372 546 1,517 722 1,110
Capex / Sales 4.49% 3.7% 5.18% 16.04% 5.73% 8%
Announcement Date 28/06/18 28/06/19 28/08/20 30/06/21 30/06/22 06/07/23
1NGN in Million2NGN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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