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Nascon Allied Industries

NGSE:NASCON
Snowflake Description

Excellent balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NASCON
NGSE
NGN23B
Market Cap
  1. Home
  2. NG
  3. Food, Beverage & Tobacco
Company description

NASCON Allied Industries Plc engages in refining and selling edible, refined, bulk, and industrial salt in Nigeria. The last earnings update was 12 days ago. More info.


Add to Portfolio Compare Print
  • Nascon Allied Industries has significant price volatility in the past 3 months.
NASCON Share Price and Events
7 Day Returns
7.1%
NGSE:NASCON
-1.7%
NG Food
-1.4%
NG Market
1 Year Returns
-54.5%
NGSE:NASCON
-36.3%
NG Food
-37%
NG Market
NASCON Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Nascon Allied Industries (NASCON) 7.1% -30% -29.7% -54.5% 5.6% 8.6%
NG Food -1.7% -23.7% -38.4% -36.3% 8.9% -23.9%
NG Market -1.4% -22.2% -25.4% -37% -31.3% -50.7%
1 Year Return vs Industry and Market
  • NASCON underperformed the Food industry which returned -36.3% over the past year.
  • NASCON underperformed the Market in Nigeria which returned -37% over the past year.
Price Volatility
NASCON
Industry
5yr Volatility vs Market

Value

 Is Nascon Allied Industries undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Nascon Allied Industries to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Nascon Allied Industries.

NGSE:NASCON Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 22.6%
Perpetual Growth Rate 10-Year NG Government Bond Rate 12.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NGSE:NASCON
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NG Govt Bond Rate 12.7%
Equity Risk Premium S&P Global 12.4%
Food Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.566 (1 + (1- 30%) (31.35%))
0.793
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 12.68% + (0.8 * 12.41%)
22.61%

Discounted Cash Flow Calculation for NGSE:NASCON using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Nascon Allied Industries is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NGSE:NASCON DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NGN, Millions) Source Present Value
Discounted (@ 22.61%)
2020 2,948.00 Analyst x1 2,404.41
2021 3,760.00 Analyst x1 2,501.21
2022 4,027.00 Analyst x1 2,184.87
2023 4,580.00 Analyst x1 2,026.70
2024 5,827.00 Analyst x1 2,103.06
2025 6,654.36 Est @ 14.2% 1,958.82
2026 7,568.88 Est @ 13.74% 1,817.19
2027 8,584.94 Est @ 13.42% 1,681.07
2028 9,718.24 Est @ 13.2% 1,552.09
2029 10,985.95 Est @ 13.04% 1,431.03
Present value of next 10 years cash flows NGN19,660.00
NGSE:NASCON DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NGN10,985.95 × (1 + 12.68%) ÷ (22.61% – 12.68%)
NGN124,687.42
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NGN124,687.42 ÷ (1 + 22.61%)10
NGN16,241.81
NGSE:NASCON Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NGN19,660.00 + NGN16,241.81
NGN35,901.81
Equity Value per Share
(NGN)
= Total value / Shares Outstanding
= NGN35,901.81 / 2,649.44
NGN13.55
NGSE:NASCON Discount to Share Price
Calculation Result
Value per share (NGN) From above. NGN13.55
Current discount Discount to share price of NGN9.10
= -1 x (NGN9.10 - NGN13.55) / NGN13.55
32.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Nascon Allied Industries is available for.
Intrinsic value
33%
Share price is NGN9.1 vs Future cash flow value of NGN13.55
Current Discount Checks
For Nascon Allied Industries to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Nascon Allied Industries's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Nascon Allied Industries's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Nascon Allied Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nascon Allied Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NGSE:NASCON PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in NGN NGN0.70
NGSE:NASCON Share Price ** NGSE (2020-04-03) in NGN NGN9.1
Nigeria Food Industry PE Ratio Median Figure of 10 Publicly-Listed Food Companies 10.64x
Nigeria Market PE Ratio Median Figure of 99 Publicly-Listed Companies 5.92x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Nascon Allied Industries.

NGSE:NASCON PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NGSE:NASCON Share Price ÷ EPS (both in NGN)

= 9.1 ÷ 0.70

13.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nascon Allied Industries is overvalued based on earnings compared to the NG Food industry average.
  • Nascon Allied Industries is overvalued based on earnings compared to the Nigeria market.
Price based on expected Growth
Does Nascon Allied Industries's expected growth come at a high price?
Raw Data
NGSE:NASCON PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
Not available
Nigeria Food Industry PEG Ratio Median Figure of 7 Publicly-Listed Food Companies 0.38x
Nigeria Market PEG Ratio Median Figure of 24 Publicly-Listed Companies 0.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Nascon Allied Industries, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Nascon Allied Industries's assets?
Raw Data
NGSE:NASCON PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in NGN NGN4.19
NGSE:NASCON Share Price * NGSE (2020-04-03) in NGN NGN9.1
Nigeria Food Industry PB Ratio Median Figure of 15 Publicly-Listed Food Companies 1.09x
Nigeria Market PB Ratio Median Figure of 128 Publicly-Listed Companies 0.59x
NGSE:NASCON PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NGSE:NASCON Share Price ÷ Book Value per Share (both in NGN)

= 9.1 ÷ 4.19

2.17x

* Primary Listing of Nascon Allied Industries.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nascon Allied Industries is overvalued based on assets compared to the NG Food industry average.
X
Value checks
We assess Nascon Allied Industries's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Nascon Allied Industries has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Nascon Allied Industries expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.3%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Nascon Allied Industries expected to grow at an attractive rate?
  • Unable to compare Nascon Allied Industries's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Nascon Allied Industries's earnings growth to the Nigeria market average as no estimate data is available.
  • Nascon Allied Industries's revenue growth is expected to exceed the Nigeria market average.
Annual Growth Rates Comparison
Raw Data
NGSE:NASCON Future Growth Rates Data Sources
Data Point Source Value (per year)
NGSE:NASCON Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 7.3%
Nigeria Food Industry Earnings Growth Rate Market Cap Weighted Average 11.9%
Nigeria Food Industry Revenue Growth Rate Market Cap Weighted Average 9.1%
Nigeria Market Earnings Growth Rate Market Cap Weighted Average 8.3%
Nigeria Market Revenue Growth Rate Market Cap Weighted Average 5.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NGSE:NASCON Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in NGN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NGSE:NASCON Future Estimates Data
Date (Data in NGN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 39,605 8,124 1
2023-12-31 36,048 6,887 1
2022-12-31 34,021 7,722 2
2021-12-31 31,077 6,847 2
2020-12-31 28,532 11,133 1
2020-04-04
NGSE:NASCON Past Financials Data
Date (Data in NGN Millions) Revenue Cash Flow Net Income *
2019-12-31 27,488 6,090 1,845
2019-09-30 28,041 1,647 2,652
2019-06-30 25,920 3,669
2019-03-31 25,822 -3 4,053
2018-12-31 25,769 1,022 4,420
2018-09-30 25,110 6,000 5,079
2018-06-30 27,165 10,981 5,413
2018-03-31 27,371 10,938 5,608
2017-12-31 27,064 13,836 5,344
2017-09-30 26,209 10,174 4,706
2017-06-30 22,425 5,795 3,100
2017-03-31 20,292 5,446 2,565

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Nascon Allied Industries is high growth as no earnings estimate data is available.
  • Nascon Allied Industries's revenue is expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NGSE:NASCON Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Nascon Allied Industries Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NGSE:NASCON Future Estimates Data
Date (Data in NGN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-04-04
NGSE:NASCON Past Financials Data
Date (Data in NGN Millions) EPS *
2019-12-31 0.70
2019-09-30 1.00
2019-06-30
2019-03-31 1.53
2018-12-31 1.67
2018-09-30 1.92
2018-06-30 2.04
2018-03-31 2.12
2017-12-31 2.02
2017-09-30 1.78
2017-06-30 1.17
2017-03-31 0.97

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Nascon Allied Industries will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Nascon Allied Industries's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Nigeria market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Nigeria market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Nascon Allied Industries has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Nascon Allied Industries performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Nascon Allied Industries's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Nascon Allied Industries's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Nascon Allied Industries's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Nascon Allied Industries's 1-year earnings growth is negative, it can't be compared to the NG Food industry average.
Earnings and Revenue History
Nascon Allied Industries's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Nascon Allied Industries Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NGSE:NASCON Past Revenue, Cash Flow and Net Income Data
Date (Data in NGN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 27,487.79 1,845.24 2,890.17
2019-09-30 28,040.74 2,651.69 2,813.45
2019-06-30 25,920.35 3,669.22 2,633.35
2019-03-31 25,821.56 4,052.69 2,699.50
2018-12-31 25,769.35 4,420.22 2,633.35
2018-09-30 25,109.97 5,079.49 2,483.38
2018-06-30 27,165.19 5,413.46 2,655.89
2018-03-31 27,371.38 5,608.26 2,440.89
2017-12-31 27,064.33 5,343.59 2,337.45
2017-09-30 26,209.28 4,706.31 2,315.62
2017-06-30 22,425.23 3,099.54 2,150.72
2017-03-31 20,292.16 2,564.74 2,062.59
2016-12-31 18,291.79 2,415.18 2,088.52
2016-09-30 18,780.75 2,250.31 1,984.32
2016-06-30 18,162.22 2,347.21 1,889.87
2016-03-31 17,765.71 2,280.65 1,738.32
2015-12-31 16,178.20 2,105.65 1,462.48
2015-09-30 13,270.13 1,911.60 1,301.98
2015-06-30 12,476.76 1,836.37 1,149.24
2015-03-31 11,429.20 1,786.93 1,065.53
2014-12-31 11,250.54 1,867.04 1,035.48
2014-09-30 10,816.17 2,210.08 1,028.62
2014-06-30 10,880.32 2,372.52 941.54
2014-03-31 10,750.24 2,566.02 993.93
2013-12-31 10,837.26 2,699.54 1,004.86
2013-09-30 11,531.13 2,780.56 1,060.92
2013-06-30 11,751.67 2,794.04 1,281.21

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Nascon Allied Industries has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Nascon Allied Industries used its assets less efficiently than the NG Food industry average last year based on Return on Assets.
  • Nascon Allied Industries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Nascon Allied Industries's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Nascon Allied Industries has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Nascon Allied Industries's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Nascon Allied Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Nascon Allied Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Nascon Allied Industries's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Nascon Allied Industries's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Nascon Allied Industries Company Filings, last reported 3 months ago.

NGSE:NASCON Past Debt and Equity Data
Date (Data in NGN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 11,089.29 3,338.57 4,251.08
2019-09-30 11,265.62 2,393.31 1,284.43
2019-06-30 12,588.39 38.57 2,069.63
2019-03-31 12,588.39 38.57 2,069.63
2018-12-31 11,893.48 38.57 3,021.41
2018-09-30 11,351.16 38.57 5,290.59
2018-06-30 9,762.13 38.57 7,055.87
2018-03-31 12,597.66 38.57 10,230.07
2017-12-31 11,535.21 38.57 9,945.53
2017-09-30 10,245.83 38.57 5,103.99
2017-06-30 8,149.85 38.57 2,906.76
2017-03-31 8,844.00 38.57 3,982.97
2016-12-31 8,046.23 38.57 2,492.07
2016-09-30 7,394.13 43.81 730.21
2016-06-30 6,904.92 43.81 2,035.16
2016-03-31 7,736.45 43.81 2,399.20
2015-12-31 7,088.23 43.81 2,548.69
2015-09-30 6,601.01 43.81 941.04
2015-06-30 6,014.90 43.81 1,791.69
2015-03-31 6,780.53 43.81 330.52
2014-12-31 6,307.31 43.81 887.75
2014-09-30
2014-06-30 5,571.12 43.81 780.13
2014-03-31 7,445.95 43.81 1,183.17
2013-12-31 6,892.63 43.81 1,192.88
2013-09-30 5,601.78 43.81 1,437.94
2013-06-30 5,601.78 43.81 1,437.94
  • Nascon Allied Industries's level of debt (30.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.7% vs 30.1% today).
  • Debt is well covered by operating cash flow (182.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 22x coverage).
X
Financial health checks
We assess Nascon Allied Industries's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Nascon Allied Industries has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Nascon Allied Industries's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.4%
Current annual income from Nascon Allied Industries dividends. Estimated to be 14.08% next year.
If you bought NGN2,000 of Nascon Allied Industries shares you are expected to receive NGN88 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Nascon Allied Industries's pays a lower dividend yield than the bottom 25% of dividend payers in Nigeria (5.34%).
  • Nascon Allied Industries's dividend is below the markets top 25% of dividend payers in Nigeria (12.01%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NGSE:NASCON Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Nigeria Food Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 8.7%
Nigeria Market Average Dividend Yield Market Cap Weighted Average of 68 Stocks 11.3%
Nigeria Minimum Threshold Dividend Yield 10th Percentile 2.2%
Nigeria Bottom 25% Dividend Yield 25th Percentile 5.3%
Nigeria Top 25% Dividend Yield 75th Percentile 12%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NGSE:NASCON Future Dividends Estimate Data
Date (Data in NGN) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 2.29 1.00
2023-12-31 1.72 1.00
2022-12-31 1.11 2.00
2021-12-31 0.87 2.00
2020-12-31 1.00 1.00
2020-04-04
NGSE:NASCON Past Annualized Dividends Data
Date (Data in NGN) Dividend per share (annual) Avg. Yield (%)
2020-03-23 0.400 4.661
2019-03-22 1.000 6.964
2018-03-09 1.500 7.681
2017-04-03 0.700 5.641
2016-03-30 0.550 7.136
2015-05-14 0.500 7.174
2014-08-29 0.900 12.087
2014-05-15 0.900 8.063
2013-06-07 0.900 7.275
2012-04-12 0.700 11.000
2011-05-31 0.500 11.446
2011-05-25 0.500 8.175
2010-09-17 0.500 8.567
2009-09-04 0.400 6.981
2009-09-01 0.400 10.427

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Nascon Allied Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Nascon Allied Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 2.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Nascon Allied Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Nascon Allied Industries has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Nascon Allied Industries's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paul Farrer
TENURE AS CEO 5.3 years
CEO Bio

Mr. Paul Farrer has been the Managing Director at Nascon Allied Industries Plc since 2015. Mr. Farrer serves as Chief Operating Officer of Mass Market Products Division at Food Concept and Entertainment Plc. He has over 16 years' experience in the food and hospitality business including Nandos, TGI Fridays, Innscor and Steers. He served as Country Manager of Innscor International Ghana (Nandos/Mobil 'on the run'). Mr. Farrer has operated in 13 African countries including South Africa, Ghana, Uganda, Kenya, Tanzania, Botswana and Zimbabwe. He serves as a Director of Nascon Allied Industries Plc.

CEO Compensation
  • Insufficient data for Paul to compare compensation growth.
  • Insufficient data for Paul to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure of the Nascon Allied Industries management team in years:

3.1
Average Tenure
  • The tenure for the Nascon Allied Industries management team is about average.
Management Team

Paul Farrer

TITLE
MD & Director
TENURE
5.3 yrs

Aderemi Saka

TITLE
Chief Finance Officer

Gerhard Scheepers

TITLE
Head of Operations
TENURE
4.9 yrs

Murtala Zubair

TITLE
Head of Human Resources & Administration
TENURE
1.7 yrs

ShoIa Shosanya

TITLE
Head of Sales
TENURE
3.2 yrs

Olusegun Ajala

TITLE
Head of Marketing
TENURE
1.8 yrs

Fatima Aliko-Dangote

TITLE
Executive Director of Commercial & Executive Director

Nura Shuaibu

TITLE
Head of Projects
TENURE
3.1 yrs

Patrick Mogaha

TITLE
Head of Internal Audit
TENURE
3.4 yrs

Jude Amaechi

TITLE
Head of Health
TENURE
2.9 yrs
Board of Directors Tenure

Average tenure of the Nascon Allied Industries board of directors in years:

4.3
Average Tenure
  • The tenure for the Nascon Allied Industries board of directors is about average.
Board of Directors

Yemisi Ayeni

TITLE
Chairperson
TENURE
4.3 yrs

Paul Farrer

TITLE
MD & Director

Fatima Aliko-Dangote

TITLE
Executive Director of Commercial & Executive Director
TENURE
4.1 yrs

Chris Ogbechie

TITLE
Independent Director
TENURE
4.3 yrs

Mallam Ladan-Baki

TITLE
Non-Executive Director

Olakunle Alake

TITLE
Non-Executive Director
TENURE
15.3 yrs

Knut Ulvmoen

TITLE
Non-Executive Director

Abdu Dantata

TITLE
Non-Executive Director
TENURE
15.3 yrs

Halima Aliko-Dangote

TITLE
Non-Executive Director
TENURE
7.4 yrs

Fatima Wali-Abdurrahman

TITLE
Independent Director
TENURE
4.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NGN) Value (NGN)
X
Management checks
We assess Nascon Allied Industries's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Nascon Allied Industries has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

NASCON Allied Industries Plc engages in refining and selling edible, refined, bulk, and industrial salt in Nigeria. It also produces seasonings, tomato paste, and vegetable oils; and provides freight services. The company sells salt, tomato paste, and vegetable oil under the Dangote; and seasonings under the Dan-Q brand names. It sells its products directly to distributors who redistribute to small wholesalers, confectioners, supermarkets, and retailers. NASCON Allied Industries Plc serves manufacturers of confectioneries, seasonings, refined edible oil, processed leather, noodles, and oil industries. The company was formerly known as National Salt Company of Nigeria Plc and changed its name to NASCON Allied Industries Plc in July 2015. NASCON Allied Industries Plc was founded in 1973 and is headquartered in Ikeja, Nigeria. NASCON Allied Industries Plc is a subsidiary of Dangote Industries Limited.

Details
Name: Nascon Allied Industries Plc
NASCON
Exchange: NGSE
Founded: 1973
NGN22,520,226,213
2,649,438,378
Website: http://www.nasconplc.com
Address: Nascon Allied Industries Plc
15b, Ikosi Road,
Oregun Industrial Estate,
Ikeja,
Nigeria
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NGSE NASCON Ordinary Shares Nigerian Stock Exchange NG NGN 06. Dec 2000
Number of employees
Current staff
Staff numbers
566
Nascon Allied Industries employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 18:11
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/03/23
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.