| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
CORNERST Overview
Cornerstone Insurance Plc, together with its subsidiaries, provides risk underwriting and related financial services for corporate and individual customers in Nigeria.
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₦0.56 |
| 52 Week High | ₦0.48 |
| 52 Week Low | ₦0.89 |
| Beta | 0.10 |
| 1 Month Change | -3.45% |
| 3 Month Change | 5.66% |
| 1 Year Change | -6.67% |
| 3 Year Change | 213.94% |
| 5 Year Change | 38.13% |
| Change since IPO | -10.77% |
Recent News & Updates
Shareholder Returns
| CORNERST | NG Insurance | NG Market | |
|---|---|---|---|
| 7D | 0% | 1.4% | 1.5% |
| 1Y | -6.7% | 32.4% | 40.2% |
Return vs Industry: CORNERST underperformed the NG Insurance industry which returned 32.4% over the past year.
Return vs Market: CORNERST underperformed the NG Market which returned 40.2% over the past year.
Price Volatility
| CORNERST volatility | |
|---|---|
| CORNERST Beta | 0.10 |
| Industry Beta | 0.69 |
| Market Beta | 1 |
Stable Share Price: CORNERST is more volatile than 75% of NG stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: CORNERST's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of NG stocks.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1991 | 156 | Ganiyu Musa | https://www.cornerstone.com.ng |
Cornerstone Insurance Plc, together with its subsidiaries, provides risk underwriting and related financial services for corporate and individual customers in Nigeria. It operates through Non-Life Insurance, Life Insurance, Halal Islamic Insurance, Fin Insurance Company Limited, and Cornerstone Leasing and Investment Limited segments. The company offers property-casualty insurance and life/health insurance products.
Cornerstone Insurance Fundamentals Summary
| CORNERST fundamental statistics | |
|---|---|
| Market Cap | ₦10.11b |
| Earnings (TTM) | ₦1.98b |
| Revenue (TTM) | ₦11.05b |
5.1x
P/E Ratio0.9x
P/S RatioIs CORNERST overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| CORNERST income statement (TTM) | |
|---|---|
| Revenue | ₦11.05b |
| Cost of Revenue | ₦6.83b |
| Gross Profit | ₦4.22b |
| Expenses | ₦2.24b |
| Earnings | ₦1.98b |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.11 |
| Gross Margin | 38.19% |
| Net Profit Margin | 17.90% |
| Debt/Equity Ratio | 0.0% |
How did CORNERST perform over the long term?
See historical performance and comparisonValuation
Is Cornerstone Insurance undervalued compared to its fair value and its price relative to the market?
5.11x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CORNERST (NGN0.56) is trading above our estimate of fair value (NGN0.45)
Significantly Below Fair Value: CORNERST is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CORNERST's PE Ratio (5.1x) is in line with the NG Insurance industry average.
PE vs Market: CORNERST is good value based on its PE Ratio (5.1x) compared to the NG market (7.3x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate CORNERST's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CORNERST is overvalued based on its PB Ratio (0.6x) compared to the NG Insurance industry average (0.4x).
Future Growth
How is Cornerstone Insurance forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
27.0%
Forecasted Insurance 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 Cornerstone Insurance 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 Cornerstone Insurance performed over the past 5 years?
42.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CORNERST has high quality earnings.
Growing Profit Margin: CORNERST's current net profit margins (17.9%) are lower than last year (43.2%).
Past Earnings Growth Analysis
Earnings Trend: CORNERST's earnings have grown significantly by 42.7% per year over the past 5 years.
Accelerating Growth: CORNERST's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CORNERST had negative earnings growth (-56.7%) over the past year, making it difficult to compare to the Insurance industry average (3.1%).
Return on Equity
High ROE: CORNERST's Return on Equity (11.3%) is considered low.
Financial Health
How is Cornerstone Insurance's financial position?
Financial Position Analysis
Short Term Liabilities: CORNERST's short term assets (NGN31.1B) exceed its short term liabilities (NGN20.2B).
Long Term Liabilities: CORNERST's short term assets (NGN31.1B) exceed its long term liabilities (NGN8.4B).
Debt to Equity History and Analysis
Debt Level: CORNERST is debt free.
Reducing Debt: CORNERST has not had any debt for past 5 years.
Debt Coverage: CORNERST has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: CORNERST has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Dividend
What is Cornerstone Insurance current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate CORNERST's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate CORNERST'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 CORNERST's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if CORNERST's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: CORNERST is not paying a notable dividend for the NG market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CORNERST'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
Ganiyu Musa
no data
Tenure
Mr. Ganiyu Musa serves as the Chief Executive Officer and Group Managing Director of Cornerstone Insurance Plc. Mr. Musa serves as a Principal and Financial Services Professional at African Capital Allianc...
Leadership Team
Experienced Management: CORNERST's management team is considered experienced (2.8 years average tenure).
Board Members
Experienced Board: CORNERST's board of directors are considered experienced (4.8 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
Cornerstone Insurance Plc's employee growth, exchange listings and data sources
Key Information
- Name: Cornerstone Insurance Plc
- Ticker: CORNERST
- Exchange: NGSE
- Founded: 1991
- Industry: Multi-line Insurance
- Sector: Insurance
- Market Cap: ₦10.110b
- Shares outstanding: 18.05b
- Website: https://www.cornerstone.com.ng
Number of Employees
Location
- Cornerstone Insurance Plc
- 21, Water Corporation Drive
- Off Ligali Ayorinde Street
- Lagos
- Nigeria
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/26 16:20 |
| 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.