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FCMB

FCMB GroupNGSE:FCMB Stock Report

Market Cap

₦62.4b

7D

2.9%

1Y

39.4%

Updated

20 Oct, 2021

Data

Company Financials +
FCMB fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance1/6
Financial Health5/6
Dividends3/6

FCMB Overview

FCMB Group Plc, through its subsidiaries, provides various banking and financial services to the wholesale and retail customers in Nigeria and Europe.

FCMB Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for FCMB Group
Historical stock prices
Current Share Price₦3.15
52 Week High₦2.25
52 Week Low₦3.99
Beta1.45
1 Month Change5.71%
3 Month Change5.35%
1 Year Change39.38%
3 Year Change103.23%
5 Year Change188.99%
Change since IPO-27.27%

Recent News & Updates

Shareholder Returns

FCMBNG BanksNG Market
7D2.9%3.2%0.6%
1Y39.4%21.0%38.8%

Return vs Industry: FCMB exceeded the NG Banks industry which returned 21% over the past year.

Return vs Market: FCMB matched the NG Market which returned 38.8% over the past year.

Price Volatility

Is FCMB's price volatile compared to industry and market?
FCMB volatility
FCMB Beta1.45
Industry Beta0.87
Market Beta1

Stable Share Price: FCMB is not significantly more volatile than the rest of NG stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: FCMB's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19773,610Ladi Balogunhttps://fcmbgroup.com

FCMB Group Plc, through its subsidiaries, provides various banking and financial services to the wholesale and retail customers in Nigeria and Europe. The company’s Investment Banking segment offers banking services to structured corporate organizations. This segment is also involved in capital raising activities for organizations in money and capital markets; and the provision of financial advisory services to organizations in raising funds.

FCMB Group Fundamentals Summary

How do FCMB Group's earnings and revenue compare to its market cap?
FCMB fundamental statistics
Market Cap₦62.38b
Earnings (TTM)₦17.28b
Revenue (TTM)₦108.00b

3.6x

P/E Ratio

0.3x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FCMB income statement (TTM)
Revenue₦108.00b
Cost of Revenue₦892.48m
Gross Profit₦107.11b
Expenses₦89.82b
Earnings₦17.28b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 24, 2021

Earnings per share (EPS)0.87
Gross Margin99.17%
Net Profit Margin16.00%
Debt/Equity Ratio146.3%

How did FCMB perform over the long term?

See historical performance and comparison

Dividends

4.8%

Current Dividend Yield

17%

Payout Ratio

Valuation

Is FCMB Group undervalued compared to its fair value and its price relative to the market?

3.61x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate FCMB's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate FCMB's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: FCMB is good value based on its PE Ratio (3.6x) compared to the NG Banks industry average (3.9x).

PE vs Market: FCMB is good value based on its PE Ratio (3.6x) compared to the NG market (7.4x).


Price to Earnings Growth Ratio

PEG Ratio: FCMB is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: FCMB is good value based on its PB Ratio (0.3x) compared to the NG Banks industry average (0.5x).


Future Growth

How is FCMB Group forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

13.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FCMB's forecast earnings growth (13.3% per year) is above the savings rate (13.2%).

Earnings vs Market: FCMB's earnings (13.3% per year) are forecast to grow slower than the NG market (15.2% per year).

High Growth Earnings: FCMB's earnings are forecast to grow, but not significantly.

Revenue vs Market: FCMB's revenue (9.3% per year) is forecast to grow slower than the NG market (10.4% per year).

High Growth Revenue: FCMB's revenue (9.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FCMB's Return on Equity is forecast to be low in 3 years time (11.3%).


Past Performance

How has FCMB Group performed over the past 5 years?

17.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FCMB has a high level of non-cash earnings.

Growing Profit Margin: FCMB's current net profit margins (16%) are lower than last year (19.1%).


Past Earnings Growth Analysis

Earnings Trend: FCMB's earnings have grown by 17% per year over the past 5 years.

Accelerating Growth: FCMB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FCMB had negative earnings growth (-12.8%) over the past year, making it difficult to compare to the Banks industry average (10.5%).


Return on Equity

High ROE: FCMB's Return on Equity (7.4%) is considered low.


Financial Health

How is FCMB Group's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FCMB's Assets to Equity ratio (9.6x) is low.

Allowance for Bad Loans: FCMB has a sufficient allowance for bad loans (163%).

Low Risk Liabilities: 74% of FCMB's liabilities are made up of primarily low risk sources of funding.

Loan Level: FCMB has an appropriate level of Loans to Assets ratio (41%).

Low Risk Deposits: FCMB's Loans to Deposits ratio (62%) is appropriate.

Level of Bad Loans: FCMB has a high level of bad loans (3.3%).


Dividend

What is FCMB Group current dividend yield, its reliability and sustainability?

4.76%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FCMB's dividend (4.76%) is higher than the bottom 25% of dividend payers in the NG market (3.25%).

High Dividend: FCMB's dividend (4.76%) is low compared to the top 25% of dividend payers in the NG market (7.24%).


Stability and Growth of Payments

Stable Dividend: FCMB's dividend payments have been volatile in the past 10 years.

Growing Dividend: FCMB's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (17.2%), FCMB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FCMB's dividends in 3 years are forecast to be thoroughly covered by earnings (12.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.1yrs

Average management tenure


CEO

Ladi Balogun (49 yo)

4.58yrs

Tenure

Mr. Ladipupo O. Balogun, also known as Ladi, is Non-Executive Director at FCMB Bank (UK) Ltd. Mr. Balogun has been the Group Chief Executive of FCMB Group Plc since March 14, 2017 and served its Managing D...


Leadership Team

Experienced Management: FCMB's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

Experienced Board: FCMB's board of directors are considered experienced (3.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

FCMB Group Plc's employee growth, exchange listings and data sources


Key Information

  • Name: FCMB Group Plc
  • Ticker: FCMB
  • Exchange: NGSE
  • Founded: 1977
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₦62.379b
  • Shares outstanding: 19.80b
  • Website: https://fcmbgroup.com

Number of Employees


Location

  • FCMB Group Plc
  • First City Plaza
  • 44, Marina
  • Lagos
  • Nigeria

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/20 15:36
End of Day Share Price2021/10/20 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.