Access Holdings Past Earnings Performance

Past criteria checks 5/6

Access Holdings has been growing earnings at an average annual rate of 36.2%, while the Banks industry saw earnings growing at 34% annually. Revenues have been growing at an average rate of 29.3% per year. Access Holdings's return on equity is 27.8%, and it has net margins of 41.6%.

Key information

36.2%

Earnings growth rate

33.7%

EPS growth rate

Banks Industry Growth	30.4%
Revenue growth rate	29.3%
Return on equity	27.8%
Net Margin	41.6%
Last Earnings Update	31 Mar 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Access Holdings makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NGSE:ACCESSCORP Revenue, expenses and earnings (NGN Millions)
Date	Revenue	Earnings	G+A Expenses
31 Mar 24	1,675,966	696,467	277,427
31 Dec 23	1,425,310	612,493	222,308
30 Sep 23	953,863	268,573	186,199
30 Jun 23	793,370	202,395	160,844
31 Mar 23	713,522	68,839	156,729
31 Dec 22	669,294	153,790	153,277
30 Sep 22	644,905	172,085	150,788
30 Jun 22	614,295	159,279	147,284
31 Mar 22	575,219	264,622	140,101
31 Dec 21	544,634	158,207	129,548
30 Sep 21	512,395	123,932	124,071
30 Jun 21	487,045	127,499	115,462
31 Mar 21	467,364	116,187	103,989
31 Dec 20	452,431	104,683	102,863
30 Sep 20	434,915	106,501	103,674
30 Jun 20	421,066	95,073	105,055
31 Mar 20	405,133	92,831	106,239
31 Dec 19	368,771	93,049	98,197
30 Sep 19	385,238	119,502	90,198
30 Jun 19	350,489	115,983	81,939
31 Mar 19	317,705	112,848	76,320
31 Dec 18	297,150	94,018	75,014
30 Sep 18	242,750	65,953	69,160
30 Jun 18	247,929	59,900	68,747
31 Mar 18	264,625	59,549	69,064
31 Dec 17	260,952	60,074	68,529
30 Sep 17	291,190	73,657	73,581
30 Jun 17	287,793	77,083	71,252
31 Mar 17	269,712	74,158	66,774
31 Dec 16	250,652	71,117	63,713
30 Sep 16	240,991	71,328	59,992
30 Jun 16	231,811	67,692	55,316
31 Mar 16	227,478	71,121	54,630
31 Dec 15	220,607	65,333	52,702
30 Sep 15	204,550	54,640	49,025
30 Jun 15	186,104	50,758	45,471
31 Mar 15	166,194	44,003	42,299
31 Dec 14	156,627	42,503	40,758
30 Sep 14	143,962	43,502	35,846
30 Jun 14	139,798	37,986	37,944
31 Mar 14	139,998	38,592	39,696
31 Dec 13	135,287	35,836	40,020
30 Sep 13	123,132	38,418	32,945
30 Jun 13	121,124	38,994	33,987

Quality Earnings: ACCESSCORP has high quality earnings.

Growing Profit Margin: ACCESSCORP's current net profit margins (41.6%) are higher than last year (9.6%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: ACCESSCORP's earnings have grown significantly by 36.2% per year over the past 5 years.

Accelerating Growth: ACCESSCORP's earnings growth over the past year (911.7%) exceeds its 5-year average (36.2% per year).

Earnings vs Industry: ACCESSCORP earnings growth over the past year (911.7%) exceeded the Banks industry 128.4%.

Return on Equity

High ROE: Whilst ACCESSCORP's Return on Equity (27.76%) is high, this metric is skewed due to their high level of debt.

Access Holdings Past Earnings Performance

Past criteria checks 5/6

Key information

Recent past performance updates

First quarter 2024 earnings released: EPS: ₦4.35 (vs ₦2.06 in 1Q 2023)

Full year 2023 earnings released: EPS: ₦17.23 (vs ₦4.57 in FY 2022)

First quarter 2023 earnings released: EPS: ₦2.06 (vs ₦4.58 in 1Q 2022)

Third quarter 2022 earnings released: EPS: ₦1.36 (vs ₦0.98 in 3Q 2021)

Second quarter 2022 earnings released

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Recent updates

First quarter 2024 earnings released: EPS: ₦4.35 (vs ₦2.06 in 1Q 2023)

Access Holdings Plc, Annual General Meeting, Apr 18, 2024

Upcoming dividend of ₦1.80 per share

Full year 2023 earnings released: EPS: ₦17.23 (vs ₦4.57 in FY 2022)

Access Holdings Plc (NGSE:ACCESSCORP) agreed to acquire National Bank of Kenya Limited from KCB Group PLC (NASE:KCB).

Investor sentiment deteriorates as stock falls 19%

Access Holdings plc Announces CEO Changes

Investor sentiment deteriorates as stock falls 20%

Investor sentiment improves as stock rises 19%

Price target increased by 9.7% to ₦22.67

Consensus EPS estimates increase by 21%

Investor sentiment improves as stock rises 18%

New major risk - Revenue and earnings growth

Investor sentiment improves as stock rises 23%

Investor sentiment improves as stock rises 20%

Access Holdings Plc Appoints Soji-Okusanya as Executive Director

New minor risk - Share price stability

Investor sentiment improves as stock rises 23%

Access Bank Launches the First American Express Cards to Be Issued in Nigeria

Investor sentiment improves as stock rises 16%

Price target increased by 15% to ₦15.30

Upcoming dividend of ₦1.30 per share at 15% yield

First quarter 2023 earnings released: EPS: ₦2.06 (vs ₦4.58 in 1Q 2022)

Price target decreased to ₦12.51

Now 21% undervalued

Now 20% undervalued after recent price drop

Third quarter 2022 earnings released: EPS: ₦1.36 (vs ₦0.98 in 3Q 2021)

Upcoming dividend of ₦0.20 per share

Second quarter 2022 earnings released

Access Holdings Plc (NGSE:ACCESSCORP) entered into an agreement to acquire an unknown majority stake in First Guarantee Pension Limited from First Bank of Nigeria Limited.

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Price target increased to ₦12.99

Upcoming dividend of ₦0.70 per share

Price target increased to ₦12.50

Full year 2021 earnings: EPS and revenues miss analyst expectations

Third quarter 2021 earnings released: EPS ₦0.98 (vs ₦1.16 in 3Q 2020)

Upcoming dividend of ₦0.30 per share

Price target decreased to ₦10.81

Second quarter 2021 earnings released: EPS ₦0.99 (vs ₦0.55 in 2Q 2020)

Consensus EPS estimates increase to ₦3.56

First quarter 2021 earnings released: EPS ₦1.49 (vs ₦1.21 in 1Q 2020)

Upcoming dividend of ₦0.55 per share

Full year 2020 earnings released: EPS ₦3.01 (vs ₦2.79 in FY 2019)

New 90-day low: ₦7.70

Price target raised to ₦12.05

Analysts increase EPS estimates to ₦2.92

Price target raised to ₦10.93

Access Bank Plc Announces Board Changes

Market bids up stock over the past week

New 90-day high: ₦8.00

New 90-day high: ₦7.15

Access Bank Plc (NGSE:ACCESS) entered into definitive agreement to acquire a stake in BancABC Mozambique SA from ABC Holdings Limited.

Access Bank Plc (NGSE:ACCESS) signed a memorandum of agreement to acquire Diamond Bank Plc (NGSE:DIAMONDBNK) from The Carlyle Group L.P. (NasdaqGS:CG) and others for NGN 72.5 billion.

First half earnings released

Price target lowered to ₦9.10

Revenue & Expenses BreakdownBeta

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets

Return on Capital Employed

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