New Risk • Mar 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.2% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (KSh8.33b market cap, or US$64.3m). Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to KSh68.50, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 13x in the Chemicals industry in Africa. Total returns to shareholders of 132% over the past three years. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to KSh59.75, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 12x in the Chemicals industry in Africa. Total returns to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to KSh57.00, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 13x in the Chemicals industry in Africa. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to KSh38.10, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 10x in the Chemicals industry in Africa. Total returns to shareholders of 9.0% over the past three years. Upcoming Dividend • Jun 16
Upcoming dividend of KSh3.00 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 30 June 2025. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 6.8%. Lower than top quartile of Kenyan dividend payers (9.7%). Lower than average of industry peers (9.2%). New Risk • May 30
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 7.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 18% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (KSh5.51b market cap, or US$42.6m). Reported Earnings • May 24
Full year 2024 earnings released: EPS: KSh3.83 (vs KSh0.20 loss in FY 2023) Full year 2024 results: EPS: KSh3.83 (up from KSh0.20 loss in FY 2023). Revenue: KSh13.5b (up 7.7% from FY 2023). Net income: KSh544.0m (up KSh573.1m from FY 2023). Profit margin: 4.0% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. New Risk • May 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Kenyan stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.0% average weekly change). Earnings have declined by 25% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Profit margins are more than 30% lower than last year (0.07% net profit margin). Market cap is less than US$100m (KSh5.25b market cap, or US$40.6m). Announcement • May 01
Crown Paints Kenya PLC announces Annual dividend, payable on June 30, 2025 Crown Paints Kenya PLC announced Annual dividend of KES 3.0000 per share payable on June 30, 2025, ex-date on June 23, 2025 and record date on June 20, 2025. Announcement • Apr 30
Crown Paints Kenya PLC, Annual General Meeting, Jun 20, 2025 Crown Paints Kenya PLC, Annual General Meeting, Jun 20, 2025, at 11:00 E. Africa Standard Time. New Risk • Apr 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (9.1% average weekly change). Profit margins are more than 30% lower than last year (0.07% net profit margin). Market cap is less than US$100m (KSh4.98b market cap, or US$38.4m). New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Kenyan stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Profit margins are more than 30% lower than last year (0.07% net profit margin). Market cap is less than US$100m (KSh4.98b market cap, or US$38.4m). Reported Earnings • Sep 28
First half 2024 earnings released: EPS: KSh0.53 (vs KSh0.26 in 1H 2023) First half 2024 results: EPS: KSh0.53 (up from KSh0.26 in 1H 2023). Revenue: KSh6.20b (up 9.9% from 1H 2023). Net income: KSh75.0m (up 103% from 1H 2023). Profit margin: 1.2% (up from 0.7% in 1H 2023). The increase in margin was driven by higher revenue. New Risk • Sep 26
New major risk - Revenue and earnings growth Earnings have declined by 25% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.07% net profit margin). Market cap is less than US$100m (KSh4.27b market cap, or US$33.2m). Announcement • Jun 05
Crown Paints Kenya PLC, Annual General Meeting, Jun 27, 2024 Crown Paints Kenya PLC, Annual General Meeting, Jun 27, 2024, at 11:00 E. Africa Standard Time. New Risk • Dec 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (32% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (KSh4.98b market cap, or US$32.0m). New Risk • Aug 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Kenyan stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.3% average weekly change). High level of non-cash earnings (32% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (KSh5.66b market cap, or US$39.1m). Upcoming Dividend • Jun 22
Upcoming dividend of KSh4.00 per share at 9.1% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 14 August 2023. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 9.1%. Lower than top quartile of Kenyan dividend payers (11%). Higher than average of industry peers (6.2%). New Risk • Jun 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (32% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (KSh6.19b market cap, or US$44.4m). Reported Earnings • Jun 08
Full year 2022 earnings released: EPS: KSh5.79 (vs KSh6.85 in FY 2021) Full year 2022 results: EPS: KSh5.79. Revenue: KSh11.4b (up 6.1% from FY 2021). Net income: KSh824.0m (up 13% from FY 2021). Profit margin: 7.2% (up from 6.8% in FY 2021). The increase in margin was driven by higher revenue. Announcement • Jun 06
Crown Paints Kenya PLC, Annual General Meeting, Jun 27, 2023 Crown Paints Kenya PLC, Annual General Meeting, Jun 27, 2023, at 08:00 Coordinated Universal Time. Agenda: To adopt the audited financial statements for the year ended 31st December 2022 together with the Directors' and Auditors' Reports thereon; to approve the Directors' Remuneration Report and the remuneration paid to the Directors for the year ended 31st December 2022 and to authorize Directors to fix the remuneration of the Non-Executive Directors; to declare a final dividend of KShs 4/= per ordinary share for the financial year ended 31 December 2022 and to approve the closure of the Register of Members at 4.30 pm on 27th June 2023 for one day only; to re-elect directors; and to transact other business. Board Change • Nov 18
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non Executive Director Alice Owuor was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 29
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non Executive Director Alice Owuor was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 22
Full year 2021 earnings released: EPS: KSh6.85 (vs KSh8.42 in FY 2020) Full year 2021 results: EPS: KSh6.85. Revenue: KSh10.7b (up 17% from FY 2020). Net income: KSh731.2m (up 22% from FY 2020). Profit margin: 6.8% (up from 6.5% in FY 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Jun 22
Upcoming dividend of KSh4.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 August 2022. The company last paid an ordinary dividend in July 2011. The average dividend yield among industry peers is 5.9%. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to KSh26.80, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 13x in the Chemicals industry in Africa. Total loss to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 19% share price gain to KSh31.45, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 12x in the Chemicals industry in Africa. Total loss to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 17% share price gain to KSh23.20, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 12x in the Chemicals industry in Africa. Total loss to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment deteriorated over the past week After last week's 15% share price decline to KSh30.50, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 12x in the Chemicals industry in Africa. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorated over the past week After last week's 74% share price decline to KSh10.00, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 11x in the Chemicals industry in Africa. Total loss to shareholders of 81% over the past three years. Is New 90 Day High Low • Dec 04
New 90-day low: KSh36.95 The company is down 17% from its price of KSh44.50 on 02 September 2020. The Kenyan market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period. Is New 90 Day High Low • Nov 06
New 90-day low: KSh38.00 The company is down 18% from its price of KSh46.50 on 06 August 2020. The Kenyan market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 13% over the same period. Is New 90 Day High Low • Oct 23
New 90-day low: KSh41.45 The company is down 12% from its price of KSh47.00 on 24 July 2020. The Kenyan market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 8.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day high: KSh49.00 The company is up 2.0% from its price of KSh48.00 on 23 June 2020. The Kenyan market is flat over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Chemicals industry, which is also up 2.0% over the same period.