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PZ

PZ Cussons NigeriaNGSE:PZ Stock Report

Market Cap

₦21.4b

7D

0%

1Y

22.7%

Updated

17 Oct, 2021

Data

Company Financials
PZ fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance1/6
Financial Health6/6
Dividends1/6

PZ Overview

PZ Cussons Nigeria Plc, together with its subsidiaries, engages in the manufacture, distribution, and sale of various consumer products and home appliances in Nigeria and internationally.

Price History & Performance

Summary of all time highs, changes and price drops for PZ Cussons Nigeria
Historical stock prices
Current Share Price₦5.40
52 Week High₦4.10
52 Week Low₦6.30
Beta0.27
1 Month Change-7.69%
3 Month Change-6.90%
1 Year Change22.73%
3 Year Change-56.45%
5 Year Change-69.11%
Change since IPO16.51%

Recent News & Updates

Shareholder Returns

PZNG Household ProductsNG Market
7D0%0%1.6%
1Y22.7%-7.4%40.0%

Return vs Industry: PZ exceeded the NG Household Products industry which returned -7.4% over the past year.

Return vs Market: PZ underperformed the NG Market which returned 40% over the past year.

Price Volatility

Is PZ's price volatile compared to industry and market?
PZ volatility
PZ Beta0.27
Industry Beta0.46
Market Beta1

Stable Share Price: PZ is not significantly more volatile than the rest of NG stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PZ's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1899n/aPanos Katsishttps://www.pzcussons.com/nigeria/

PZ Cussons Nigeria Plc, together with its subsidiaries, engages in the manufacture, distribution, and sale of various consumer products and home appliances in Nigeria and internationally. The company operates through Home and Personal Care Products, and Durable Electrical Appliances segments. It offers personal care products, such as Premier Cool Deo Antiseptic soaps; hand hygiene products under the Carex brand; baby personal and skin care products under the Cussons Baby brand; Imperial Leather offers bathing and personal care products; detergent powders, bulk powders, and laundry soaps under the Zip, and Canoe brands; and dish wash products under the Morning fresh brand name.

PZ Cussons Nigeria Fundamentals Summary

How do PZ Cussons Nigeria's earnings and revenue compare to its market cap?
PZ fundamental statistics
Market Cap₦21.44b
Earnings (TTM)₦1.74b
Revenue (TTM)₦82.38b

12.3x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PZ income statement (TTM)
Revenue₦82.38b
Cost of Revenue₦59.09b
Gross Profit₦23.30b
Expenses₦21.55b
Earnings₦1.74b

Last Reported Earnings

May 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.44
Gross Margin28.28%
Net Profit Margin2.12%
Debt/Equity Ratio0%

How did PZ perform over the long term?

See historical performance and comparison

Dividends

1.9%

Current Dividend Yield

22%

Payout Ratio

Valuation

Is PZ Cussons Nigeria undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PZ (NGN5.4) is trading below our estimate of fair value (NGN11.6)

Significantly Below Fair Value: PZ is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PZ is good value based on its PE Ratio (12.3x) compared to the Global Household Products industry average (21.4x).

PE vs Market: PZ is poor value based on its PE Ratio (12.3x) compared to the NG market (7.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PZ's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PZ is good value based on its PB Ratio (0.6x) compared to the XF Household Products industry average (1.2x).


Future Growth

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

11.3%

Forecasted Household 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 PZ Cussons Nigeria 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 PZ Cussons Nigeria performed over the past 5 years?

-51.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PZ has a large one-off gain of NGN1.9B impacting its May 31 2021 financial results.

Growing Profit Margin: PZ became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: PZ's earnings have declined by 51.3% per year over the past 5 years.

Accelerating Growth: PZ has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: PZ has become profitable in the last year, making it difficult to compare its past year earnings growth to the Household Products industry (8.6%).


Return on Equity

High ROE: PZ's Return on Equity (5.1%) is considered low.


Financial Health

How is PZ Cussons Nigeria's financial position?


Financial Position Analysis

Short Term Liabilities: PZ's short term assets (NGN60.4B) exceed its short term liabilities (NGN45.9B).

Long Term Liabilities: PZ's short term assets (NGN60.4B) exceed its long term liabilities (NGN5.9B).


Debt to Equity History and Analysis

Debt Level: PZ is debt free.

Reducing Debt: PZ had no debt 5 years ago.

Debt Coverage: PZ has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: PZ has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is PZ Cussons Nigeria current dividend yield, its reliability and sustainability?

1.85%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PZ's dividend (1.85%) isn’t notable compared to the bottom 25% of dividend payers in the NG market (3.3%).

High Dividend: PZ's dividend (1.85%) is low compared to the top 25% of dividend payers in the NG market (7.31%).


Stability and Growth of Payments

Stable Dividend: PZ has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PZ has only been paying a dividend for 9 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (21.7%), PZ's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.8yrs

Average management tenure


CEO

Panos Katsis

1.25yrs

Tenure

Mr. Panagiotis Katsis also Known as Panos, serves as Director, Managing Director and Chief Executive Officer at PZ Cussons Nigeria Plc since July 01, 2020. He joined the PZ Cussons Group in 1998 and has wo...


Leadership Team

Experienced Management: PZ's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: PZ's board of directors are considered experienced (3.6 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

PZ Cussons Nigeria Plc's employee growth, exchange listings and data sources


Key Information

  • Name: PZ Cussons Nigeria Plc
  • Ticker: PZ
  • Exchange: NGSE
  • Founded: 1899
  • Industry: Household Products
  • Sector: Household
  • Market Cap: ₦21.441b
  • Shares outstanding: 3.97b
  • Website: https://www.pzcussons.com/nigeria/

Number of Employees


Location

  • PZ Cussons Nigeria Plc
  • 45/47 Town Planning Way
  • Ilupeju Industrial Estate
  • Ikeja
  • Nigeria

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/17 15:22
End of Day Share Price2021/10/15 00:00
Earnings2021/05/31
Annual Earnings2021/05/31


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.