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CORN

Cornerstone InsuranceNGSE:CORNERST Stock Report

Market Cap

₦10.1b

7D

0%

1Y

-6.7%

Updated

26 Oct, 2021

Data

Company Financials
CORNERST fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance2/6
Financial Health6/6
Dividends0/6

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

Summary of all time highs, changes and price drops for Cornerstone Insurance
Historical stock prices
Current Share Price₦0.56
52 Week High₦0.48
52 Week Low₦0.89
Beta0.10
1 Month Change-3.45%
3 Month Change5.66%
1 Year Change-6.67%
3 Year Change213.94%
5 Year Change38.13%
Change since IPO-10.77%

Recent News & Updates

Shareholder Returns

CORNERSTNG InsuranceNG Market
7D0%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

Is CORNERST's price volatile compared to industry and market?
CORNERST volatility
CORNERST Beta0.10
Industry Beta0.69
Market Beta1

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

FoundedEmployeesCEOWebsite
1991156Ganiyu Musahttps://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

How do Cornerstone Insurance's earnings and revenue compare to its market cap?
CORNERST fundamental statistics
Market Cap₦10.11b
Earnings (TTM)₦1.98b
Revenue (TTM)₦11.05b

5.1x

P/E Ratio

0.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
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 Margin38.19%
Net Profit Margin17.90%
Debt/Equity Ratio0.0%

How did CORNERST perform over the long term?

See historical performance and comparison

Valuation

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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 16:20
End of Day Share Price2021/10/26 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.