The Initiates Plc, a waste management company, provides contracting and consultancy services in waste management, industrial cleaning, and decontamination to the private and public sectors.
Price History & Performance
|Historical stock prices|
|Current Share Price||₦0.43|
|52 Week High||₦0.40|
|52 Week Low||₦0.52|
|1 Month Change||-8.51%|
|3 Month Change||-8.51%|
|1 Year Change||-24.56%|
|3 Year Change||-29.51%|
|5 Year Change||n/a|
|Change since IPO||-51.69%|
Recent News & Updates
|TIP||NG Commercial Services||NG Market|
Return vs Industry: TIP underperformed the NG Commercial Services industry which returned 67% over the past year.
Return vs Market: TIP underperformed the NG Market which returned 40.4% over the past year.
Stable Share Price: TIP is less volatile than 75% of NG stocks over the past 3 months, typically moving +/- 0% a week.
Volatility Over Time: TIP's weekly volatility (0%) has been stable over the past year.
About the Company
The Initiates Plc, a waste management company, provides contracting and consultancy services in waste management, industrial cleaning, and decontamination to the private and public sectors. The company offers thermal desorption services; surface cleaning and non-man entry automated tank cleaning systems, FPSOs, tanks, and vessel desludging and cleaning systems; onsite drilling waste management systems; waste incineration services; and e-waste processing services. It also provides waste management consultancy services, including contaminated land investigation and remediation planning, waste auditing and strategy development, and waste trans-boundary movement; asbestos management and soil and groundwater remediation; and municipal solid waste management services comprising waste collection planning and optimization, and processing and recycling, treatment and disposal, as well as cost recovery.
Initiates Fundamentals Summary
|TIP fundamental statistics|
Is TIP overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|TIP income statement (TTM)|
|Cost of Revenue||₦337.61m|
Last Reported Earnings
Dec 31, 2020
Next Earnings Date
|Earnings per share (EPS)||-0.094|
|Net Profit Margin||-17.86%|
How did TIP perform over the long term?See historical performance and comparison
Is Initiates undervalued compared to its fair value and its price relative to the market?
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: Insufficient data to calculate TIP's fair value to establish if it is undervalued.
Significantly Below Fair Value: Insufficient data to calculate TIP's fair value to establish if it is undervalued.
Price To Earnings Ratio
PE vs Industry: TIP is unprofitable, so we can't compare its PE Ratio to the African Commercial Services industry average.
PE vs Market: TIP is unprofitable, so we can't compare its PE Ratio to the NG market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate TIP's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: TIP is good value based on its PB Ratio (0.5x) compared to the XF Commercial Services industry average (1.2x).
How is Initiates forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Commercial Services industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Initiates has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
How has Initiates performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TIP is currently unprofitable.
Growing Profit Margin: TIP is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: TIP is unprofitable, and losses have increased over the past 5 years at a rate of 32.5% per year.
Accelerating Growth: Unable to compare TIP's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: TIP is unprofitable, making it difficult to compare its past year earnings growth to the Commercial Services industry (14.4%).
Return on Equity
High ROE: TIP has a negative Return on Equity (-9.93%), as it is currently unprofitable.
How is Initiates's financial position?
Financial Position Analysis
Short Term Liabilities: TIP's short term assets (NGN279.2M) exceed its short term liabilities (NGN191.6M).
Long Term Liabilities: TIP's short term assets (NGN279.2M) exceed its long term liabilities (NGN108.9M).
Debt to Equity History and Analysis
Debt Level: TIP's debt to equity ratio (2%) is considered satisfactory.
Reducing Debt: TIP's debt to equity ratio has reduced from 16.5% to 2% over the past 5 years.
Debt Coverage: TIP's debt is well covered by operating cash flow (112.4%).
Interest Coverage: Insufficient data to determine if TIP's interest payments on its debt are well covered by EBIT.
What is Initiates's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate TIP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate TIP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if TIP's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if TIP's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: TIP is not paying a notable dividend for the NG market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of TIP's dividend in 3 years as they are not forecast to pay a notable one for the NG market.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Mr. Reuben Mustapha Ossai serves as the Chief Executive Officer, Managing Director and a Director at The Initiates Plc. Mr. Ossai is a Chartered Environmentalist and Waste Manager with over twenty years pr...
Experienced Board: TIP's board of directors are considered experienced (6.6 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
The Initiates Plc's employee growth, exchange listings and data sources
- Name: The Initiates Plc
- Ticker: TIP
- Exchange: NGSE
- Founded: 1995
- Industry: Environmental and Facilities Services
- Sector: Commercial Services
- Market Cap: ₦382.692m
- Shares outstanding: 889.98m
- Website: https://www.initiatesgroup.com
Number of Employees
- The Initiates Plc
- Plot 400, Location (New) Road
- off Aba/PH Expressway
- Port Harcourt
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/21 21:05|
|End of Day Share Price||2021/10/21 00:00|
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.