Flour Mills of Nigeria Plc engages in the flour milling business in Nigeria and internationally.
Price History & Performance
|Historical stock prices|
|Current Share Price||₦29.30|
|52 Week High||₦21.10|
|52 Week Low||₦35.00|
|1 Month Change||0.86%|
|3 Month Change||-1.84%|
|1 Year Change||35.34%|
|3 Year Change||42.58%|
|5 Year Change||46.50%|
|Change since IPO||602.67%|
Recent News & Updates
|FLOURMILL||NG Food||NG Market|
Return vs Industry: FLOURMILL exceeded the NG Food industry which returned 30.3% over the past year.
Return vs Market: FLOURMILL underperformed the NG Market which returned 40.1% over the past year.
Stable Share Price: FLOURMILL is less volatile than 75% of NG stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: FLOURMILL's weekly volatility (3%) has been stable over the past year.
About the Company
Flour Mills of Nigeria Plc engages in the flour milling business in Nigeria and internationally. The company operates through Food, Agro Allied, Support Services, and Sugar segments. It produces pasta, snacks, noodles, edible oil, and livestock feeds; produces and distributes fertilizers; and manufactures and markets laminated woven polypropylene sacks and flexible packaging materials.
Flour Mills of Nigeria Fundamentals Summary
|FLOURMILL fundamental statistics|
Is FLOURMILL overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|FLOURMILL income statement (TTM)|
|Cost of Revenue||₦743.80b|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||6.36|
|Net Profit Margin||3.06%|
How did FLOURMILL perform over the long term?See historical performance and comparison
5.6%Current Dividend Yield
Is Flour Mills of Nigeria undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FLOURMILL (NGN29.3) is trading below our estimate of fair value (NGN124.74)
Significantly Below Fair Value: FLOURMILL is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FLOURMILL is good value based on its PE Ratio (4.6x) compared to the NG Food industry average (11.5x).
PE vs Market: FLOURMILL is good value based on its PE Ratio (4.6x) compared to the NG market (7.5x).
Price to Earnings Growth Ratio
PEG Ratio: FLOURMILL is good value based on its PEG Ratio (0.6x)
Price to Book Ratio
PB vs Industry: FLOURMILL is good value based on its PB Ratio (0.7x) compared to the NG Food industry average (1.3x).
How is Flour Mills of Nigeria forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FLOURMILL's forecast earnings growth (8.3% per year) is below the savings rate (13.2%).
Earnings vs Market: FLOURMILL's earnings (8.3% per year) are forecast to grow slower than the NG market (15.3% per year).
High Growth Earnings: FLOURMILL's earnings are forecast to grow, but not significantly.
Revenue vs Market: FLOURMILL's revenue (5% per year) is forecast to grow slower than the NG market (10.7% per year).
High Growth Revenue: FLOURMILL's revenue (5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FLOURMILL's Return on Equity is forecast to be low in 3 years time (13.1%).
How has Flour Mills of Nigeria performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FLOURMILL has high quality earnings.
Growing Profit Margin: FLOURMILL's current net profit margins (3.1%) are higher than last year (1.8%).
Past Earnings Growth Analysis
Earnings Trend: FLOURMILL's earnings have grown significantly by 21.3% per year over the past 5 years.
Accelerating Growth: FLOURMILL's earnings growth over the past year (144.9%) exceeds its 5-year average (21.3% per year).
Earnings vs Industry: FLOURMILL earnings growth over the past year (144.9%) exceeded the Food industry 34.1%.
Return on Equity
High ROE: FLOURMILL's Return on Equity (14.5%) is considered low.
How is Flour Mills of Nigeria's financial position?
Financial Position Analysis
Short Term Liabilities: FLOURMILL's short term assets (NGN301.8B) exceed its short term liabilities (NGN191.6B).
Long Term Liabilities: FLOURMILL's short term assets (NGN301.8B) exceed its long term liabilities (NGN168.8B).
Debt to Equity History and Analysis
Debt Level: FLOURMILL's debt to equity ratio (78.3%) is considered high.
Reducing Debt: FLOURMILL's debt to equity ratio has reduced from 155.1% to 78.3% over the past 5 years.
Debt Coverage: FLOURMILL's debt is not well covered by operating cash flow (15.8%).
Interest Coverage: FLOURMILL's interest payments on its debt are well covered by EBIT (3.2x coverage).
What is Flour Mills of Nigeria current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FLOURMILL's dividend (5.63%) is higher than the bottom 25% of dividend payers in the NG market (3.3%).
High Dividend: FLOURMILL's dividend (5.63%) is low compared to the top 25% of dividend payers in the NG market (7.31%).
Stability and Growth of Payments
Stable Dividend: FLOURMILL's dividend payments have been volatile in the past 10 years.
Growing Dividend: FLOURMILL's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (25.5%), FLOURMILL's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FLOURMILL's dividends in 3 years are forecast to be covered by earnings (54.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. Omoboyede Oyebolanle Olusanya also known as Boye is Executive Director at Flour Mills of Nigeria PLC since 29 July 2020. He serves as a Group Chief Operating Officer at Northern Nigeria Flour Mills Plc...
Experienced Management: FLOURMILL's management team is considered experienced (2.8 years average tenure).
Experienced Board: FLOURMILL's board of directors are considered experienced (8.1 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.
Flour Mills of Nigeria PLC's employee growth, exchange listings and data sources
- Name: Flour Mills of Nigeria PLC
- Ticker: FLOURMILL
- Exchange: NGSE
- Founded: 1960
- Industry: Packaged Foods and Meats
- Sector: Food, Beverage & Tobacco
- Market Cap: ₦120.142b
- Shares outstanding: 4.10b
- Website: https://www.fmnplc.com
Number of Employees
- Flour Mills of Nigeria PLC
- 1, Golden Penny Place
- Wharf road
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/16 15:21|
|End of Day Share Price||2021/10/15 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.