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TIP

InitiatesNGSE:TIP Stock Report

Market Cap

₦382.7m

7D

-8.5%

1Y

-24.6%

Updated

21 Oct, 2021

Data

Company Financials
TIP fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance0/6
Financial Health5/6
Dividends0/6

TIP Overview

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

Summary of all time highs, changes and price drops for Initiates
Historical stock prices
Current Share Price₦0.43
52 Week High₦0.40
52 Week Low₦0.52
Beta0.034
1 Month Change-8.51%
3 Month Change-8.51%
1 Year Change-24.56%
3 Year Change-29.51%
5 Year Changen/a
Change since IPO-51.69%

Recent News & Updates

Shareholder Returns

TIPNG Commercial ServicesNG Market
7D-8.5%-1.5%1.4%
1Y-24.6%63.4%41.3%

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.

Price Volatility

Is TIP's price volatile compared to industry and market?
TIP volatility
TIP Beta0.034
Industry Beta0.91
Market Beta1

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

FoundedEmployeesCEOWebsite
199549Reuben Ossaihttps://www.initiatesgroup.com

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

How do Initiates's earnings and revenue compare to its market cap?
TIP fundamental statistics
Market Cap₦382.69m
Earnings (TTM)-₦83.82m
Revenue (TTM)₦469.38m

0.8x

P/S Ratio

-4.6x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TIP income statement (TTM)
Revenue₦469.38m
Cost of Revenue₦337.61m
Gross Profit₦131.77m
Expenses₦215.59m
Earnings-₦83.82m

Last Reported Earnings

Dec 31, 2020

Next Earnings Date

n/a

Earnings per share (EPS)-0.094
Gross Margin28.07%
Net Profit Margin-17.86%
Debt/Equity Ratio2.0%

How did TIP perform over the long term?

See historical performance and comparison

Valuation

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

0.45x

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).


Future Growth

How is Initiates forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

20.2%

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.


Past Performance

How has Initiates performed over the past 5 years?

-32.5%

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.


Financial Health

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.


Balance Sheet


Dividend

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.


Next Steps

Management

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

6.6yrs

Average board tenure


CEO

Reuben Ossai

no data

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...


Board Members

Experienced Board: TIP's board of directors are considered experienced (6.6 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

The Initiates Plc's employee growth, exchange listings and data sources


Key Information

  • 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


Location

  • The Initiates Plc
  • Plot 400, Location (New) Road
  • off Aba/PH Expressway
  • Port Harcourt
  • Nigeria

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/21 21:05
End of Day Share Price2021/10/21 00:00
Earnings2020/12/31
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.