How does UACN's PE Ratio compare to its peers?

UACN is good value based on its Price-To-Earnings Ratio (6.1x) compared to the peer average (10x).

How does UACN's PE Ratio compare vs other companies in the African Food Industry?

UACN is good value based on its Price-To-Earnings Ratio (6.1x) compared to the African Food industry average (10.4x).

What is UACN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Insufficient data to calculate UACN's Price-To-Earnings Fair Ratio for valuation analysis.

What is the Fair Price of UACN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

UACN (NGN30.25) is trading above our estimate of [[fair value]] (NGN1.09)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is lower than the current share price.

UACN Stock Overview

Operates in the animal feeds and other edibles, packaged food and beverages, and quick service restaurant business in Nigeria. More details

UACN fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	5/6
Financial Health	5/6
Dividends	0/6

Rewards

Price-To-Earnings ratio (6.1x) is below the NG market (7.6x)

Earnings grew by 165.3% over the past year

Risk Analysis

High level of non-cash earnings

Volatile share price over the past 3 months compared to the NG market

Does not have a meaningful market cap (NGN89B)

My Notes

Capture your thoughts, links and company narrative

UAC of Nigeria PLC Competitors

Nascon Allied Industries

NGSE:NASCON

₦87.6b

Flour Mills of Nigeria

NGSE:FLOURMILL

₦335.4b

Northern Nigeria Flour Mills

NGSE:NNFM

₦7.1b

McNichols

NGSE:MCNICHOLS

₦1.7b

Price History & Performance

Summary of share price highs, lows and changes for UAC of Nigeria
Historical stock prices
Current Share Price	₦30.25
52 Week High	₦30.25
52 Week Low	₦10.60
Beta	0.12
1 Month Change	29.27%
3 Month Change	37.81%
1 Year Change	101.67%
3 Year Change	218.42%
5 Year Change	253.80%
Change since IPO	610.10%

Recent updates

Shareholder Returns

	UACN	NG Food	NG Market
7D	26.3%	0.6%	2.5%
1Y	101.7%	93.9%	51.2%

Return vs Industry: UACN exceeded the NG Food industry which returned 93.1% over the past year.

Return vs Market: UACN exceeded the NG Market which returned 50.4% over the past year.

Price Volatility

Is UACN's price volatile compared to industry and market?
UACN volatility
UACN Average Weekly Movement	7.8%
Food Industry Average Movement	5.3%
Market Average Movement	6.1%
10% most volatile stocks in NG Market	8.5%
10% least volatile stocks in NG Market	3.1%

Stable Share Price: UACN's share price has been volatile over the past 3 months compared to the NG market.

Volatility Over Time: UACN's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of NG stocks.

About the Company

Founded	Employees	CEO	Website
1879	1,458	Fola Aiyesimoju	www.uacnplc.com

UAC of Nigeria PLC operates in the animal feeds and other edibles, packaged food and beverages, and quick service restaurant business in Nigeria. The company operates through Animal Feeds & Other Edibles, Paints, Packaged Food & Beverages, and Quick Service Restaurants (QSR) segments. The Animal Feeds & Other Edibles segment engages in the manufacture and sale of livestock feeds and edible oil, as well as cereals.

UAC of Nigeria PLC Fundamentals Summary

How do UAC of Nigeria's earnings and revenue compare to its market cap?
UACN fundamental statistics
Market cap	₦88.52b
Earnings (TTM)	₦14.44b
Revenue (TTM)	₦172.18b

6.1x

P/E Ratio

0.5x

P/S Ratio

Is UACN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
UACN income statement (TTM)
Revenue	₦172.18b
Cost of Revenue	₦134.26b
Gross Profit	₦37.92b
Other Expenses	₦23.48b
Earnings	₦14.44b

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	4.94
Gross Margin	22.02%
Net Profit Margin	8.39%
Debt/Equity Ratio	41.0%

How did UACN perform over the long term?

See historical performance and comparison

Dividends

0.7%

Current Dividend Yield

4%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/20 08:44
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

UAC of Nigeria PLC is covered by 9 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ARM Research
Hootan Yazhari	BofA Global Research
Olufisayo Ademilua	CardinalStone Partners Limited

UACN Stock Overview

Rewards

Risk Analysis

UAC of Nigeria PLC Competitors

NGSE:NASCON

₦87.6b

NGSE:FLOURMILL

₦335.4b

NGSE:NNFM

₦7.1b

NGSE:MCNICHOLS

₦1.7b

Price History & Performance

Recent News & Updates

Investor sentiment improves as stock rises 17%

New minor risk - Share price stability

Investor sentiment improves as stock rises 16%

New major risk - Earnings quality

Third quarter 2024 earnings released: EPS: ₦1.21 (vs ₦1.93 in 3Q 2023)

UAC of Nigeria PLC to Report Q3, 2024 Results on Oct 29, 2024

Recent updates

Investor sentiment improves as stock rises 17%

New minor risk - Share price stability

Investor sentiment improves as stock rises 16%

New major risk - Earnings quality

Third quarter 2024 earnings released: EPS: ₦1.21 (vs ₦1.93 in 3Q 2023)

UAC of Nigeria PLC to Report Q3, 2024 Results on Oct 29, 2024

Investor sentiment improves as stock rises 20%

Second quarter 2024 earnings released: EPS: ₦1.19 (vs ₦0.82 in 2Q 2023)

Upcoming dividend of ₦0.22 per share

First quarter 2024 earnings released: EPS: ₦1.85 (vs ₦0.29 loss in 1Q 2023)

Investor sentiment deteriorates as stock falls 15%

UAC of Nigeria PLC, Annual General Meeting, Jun 20, 2024

Dividend of ₦0.22 announced

Investor sentiment deteriorates as stock falls 18%

Full year 2023 earnings released: EPS: ₦2.76 (vs ₦1.07 loss in FY 2022)

New major risk - Earnings quality

Investor sentiment deteriorates as stock falls 15%

New minor risk - Share price stability

Investor sentiment improves as stock rises 27%

Third quarter 2023 earnings released: EPS: ₦1.93 (vs ₦0.29 loss in 3Q 2022)

Second quarter 2023 earnings released: EPS: ₦0.82 (vs ₦0.35 loss in 2Q 2022)

Upcoming dividend of ₦0.22 per share at 2.3% yield

First quarter 2023 earnings released: ₦0.29 loss per share (vs ₦0.18 profit in 1Q 2022)

Full year 2022 earnings released: ₦1.20 loss per share (vs ₦0.63 profit in FY 2021)

Price target decreased to ₦10.59

Less than half of directors are independent

Third quarter 2022 earnings released: ₦0.29 loss per share (vs ₦0.09 loss in 3Q 2021)

Price target decreased to ₦10.59

Second quarter 2022 earnings released: ₦0.35 loss per share (vs ₦0.059 loss in 2Q 2021)

Upcoming dividend of ₦0.65 per share

Investor sentiment deteriorated over the past week

First quarter 2022 earnings released: EPS: ₦0.18 (vs ₦0.12 in 1Q 2021)

Less than half of directors are independent

Full year 2021 earnings released: EPS: ₦0.63 (vs ₦0.74 in FY 2020)

Investor sentiment improved over the past week

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Third quarter 2021 earnings released: ₦0.085 loss per share (vs ₦0.33 profit in 3Q 2020)

UAC of Nigeria PLC (NGSE:UACN) agreed to acquire remaining 49% stake in UAC Foods Limited from Tiger Brands Limited (JSE:TBS).

Second quarter 2021 earnings released: ₦0.059 loss per share (vs ₦0.48 loss in 2Q 2020)

Upcoming dividend of ₦1.20 per share

Investor sentiment improved over the past week

Full year 2020 earnings released: EPS ₦0.76 (vs ₦3.23 in FY 2019)

Investor sentiment improved over the past week

New 90-day high: ₦8.95

Revenue and earnings beat expectations

Full year 2020 earnings released: EPS ₦0.90 (vs ₦3.23 in FY 2019)

Third quarter earnings released

New 90-day high: ₦7.25

Analysts update estimates

New 90-day low - ₦5.50

New 90-day low - ₦6.20

Custodian Investment Plc (NGSE:CUSTODIAN) sign a binding agreement to acquire 51% stake in UACN Property Development Company Plc (NGSE:UAC-PROP) from UAC of Nigeria Plc (NGSE:UACN)

Imperial Logistics Limited (JSE:IPL) completed the acquisition of an additional 8% stake in MDS Logistics Limited from UAC of Nigeria PLC (NGSE:UACN).

Shareholder Returns

Price Volatility

About the Company

UAC of Nigeria PLC Fundamentals Summary

6.1x

0.5x