| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 3/6 |
| Past Performance | 2/6 |
| Financial Health | 5/6 |
| Dividends | 0/6 |
ARDOVA Overview
Ardova Plc, an integrated energy company, markets petroleum products in Nigeria.
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₦14.90 |
| 52 Week High | ₦11.90 |
| 52 Week Low | ₦22.00 |
| Beta | 0.65 |
| 1 Month Change | -3.87% |
| 3 Month Change | -17.22% |
| 1 Year Change | 25.21% |
| 3 Year Change | -31.02% |
| 5 Year Change | -87.58% |
| Change since IPO | 298.81% |
Recent News & Updates
Shareholder Returns
| ARDOVA | NG Oil and Gas | NG Market | |
|---|---|---|---|
| 7D | -1.3% | 2.1% | 1.5% |
| 1Y | 25.2% | 71.6% | 39.2% |
Return vs Industry: ARDOVA underperformed the NG Oil and Gas industry which returned 77.1% over the past year.
Return vs Market: ARDOVA underperformed the NG Market which returned 40.2% over the past year.
Price Volatility
| ARDOVA volatility | |
|---|---|
| ARDOVA Beta | 0.65 |
| Industry Beta | 0.54 |
| Market Beta | 1 |
Stable Share Price: ARDOVA is not significantly more volatile than the rest of NG stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: ARDOVA's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1964 | 146 | Olumide Adeosun | https://www.ardovaplc.com |
Ardova Plc, an integrated energy company, markets petroleum products in Nigeria. It operates through four segments: Fuels, Lubricants and Greases, LPG and Cylinder Sales, and Solar System. The Fuels segment engages in sales and distribution of petroleum products and aviation turbine kerosene for various automobiles and machinery in retail outlets, as well as to industrial customers.
Ardova Fundamentals Summary
| ARDOVA fundamental statistics | |
|---|---|
| Market Cap | ₦19.44b |
| Earnings (TTM) | ₦2.63b |
| Revenue (TTM) | ₦181.40b |
7.4x
P/E Ratio0.1x
P/S RatioIs ARDOVA overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ARDOVA income statement (TTM) | |
|---|---|
| Revenue | ₦181.40b |
| Cost of Revenue | ₦167.95b |
| Gross Profit | ₦13.45b |
| Expenses | ₦10.82b |
| Earnings | ₦2.63b |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.01 |
| Gross Margin | 7.41% |
| Net Profit Margin | 1.45% |
| Debt/Equity Ratio | 63.0% |
How did ARDOVA perform over the long term?
See historical performance and comparisonValuation
Is Ardova undervalued compared to its fair value and its price relative to the market?
7.4x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: ARDOVA (NGN14.9) is trading above our estimate of fair value (NGN1.95)
Significantly Below Fair Value: ARDOVA is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: ARDOVA is poor value based on its PE Ratio (7.4x) compared to the African Oil and Gas industry average (7.1x).
PE vs Market: ARDOVA is poor value based on its PE Ratio (7.4x) compared to the NG market (7.3x).
Price to Earnings Growth Ratio
PEG Ratio: ARDOVA is good value based on its PEG Ratio (0.3x)
Price to Book Ratio
PB vs Industry: ARDOVA is overvalued based on its PB Ratio (1x) compared to the NG Oil and Gas industry average (0.8x).
Future Growth
How is Ardova forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
23.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ARDOVA's forecast earnings growth (23.7% per year) is above the savings rate (13.2%).
Earnings vs Market: ARDOVA's earnings (23.7% per year) are forecast to grow faster than the NG market (15.4% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: ARDOVA's revenue (8.8% per year) is forecast to grow slower than the NG market (10.4% per year).
High Growth Revenue: ARDOVA's revenue (8.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ARDOVA's Return on Equity is forecast to be low in 3 years time (14.5%).
Past Performance
How has Ardova performed over the past 5 years?
9.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ARDOVA has a high level of non-cash earnings.
Growing Profit Margin: ARDOVA became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: ARDOVA's earnings have grown by 9.2% per year over the past 5 years.
Accelerating Growth: ARDOVA has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: ARDOVA has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (50.7%).
Return on Equity
High ROE: ARDOVA's Return on Equity (13.4%) is considered low.
Financial Health
How is Ardova's financial position?
Financial Position Analysis
Short Term Liabilities: ARDOVA's short term assets (NGN51.5B) exceed its short term liabilities (NGN51.0B).
Long Term Liabilities: ARDOVA's short term assets (NGN51.5B) exceed its long term liabilities (NGN1.1B).
Debt to Equity History and Analysis
Debt Level: ARDOVA's debt to equity ratio (63%) is considered high.
Reducing Debt: ARDOVA's debt to equity ratio has reduced from 100.7% to 63% over the past 5 years.
Debt Coverage: ARDOVA's debt is well covered by operating cash flow (32.7%).
Interest Coverage: ARDOVA's interest payments on its debt are well covered by EBIT (4x coverage).
Balance Sheet
Dividend
What is Ardova current dividend yield, its reliability and sustainability?
2.80%
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate ARDOVA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate ARDOVA'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 ARDOVA's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if ARDOVA's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: ARDOVA is not paying a notable dividend for the NG market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of ARDOVA'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?
2.8yrs
Average management tenure
CEO
Olumide Adeosun
2.75yrs
Tenure
Mr. Olumide Adeosun has been Chief Executive Officer of Ardova Plc (formerly known as Forte Oil Plc) since 2019 and is its Director since June 20, 2019. Mr. Adeosun has experience providing transactional,...
Leadership Team
Experienced Management: ARDOVA's management team is considered experienced (2.8 years average tenure).
Board Members
Experienced Board: ARDOVA's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.
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
Ardova Plc's employee growth, exchange listings and data sources
Key Information
- Name: Ardova Plc
- Ticker: ARDOVA
- Exchange: NGSE
- Founded: 1964
- Industry: Oil and Gas Refining and Marketing
- Sector: Energy
- Market Cap: ₦19.445b
- Shares outstanding: 1.31b
- Website: https://www.ardovaplc.com
Number of Employees
Location
- Ardova Plc
- 13 Walter Carrington Crescent
- Victoria Island
- Lagos
- Nigeria
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/26 21:18 |
| End of Day Share Price | 2021/10/26 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
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.