company background image
PRES

Prestige AssuranceNGSE:PRESTIGE Stock Report

Market Cap

₦6.0b

7D

-2.2%

1Y

-25.0%

Updated

21 Oct, 2021

Data

Company Financials
PRESTIGE fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance3/6
Financial Health5/6
Dividends2/6

PRESTIGE Overview

Prestige Assurance Plc, a general insurance company, provides non-life insurance products in Nigeria.

Price History & Performance

Summary of all time highs, changes and price drops for Prestige Assurance
Historical stock prices
Current Share Price₦0.45
52 Week High₦0.41
52 Week Low₦0.61
Beta-0.051
1 Month Change-6.25%
3 Month Change-4.26%
1 Year Change-25.00%
3 Year Change33.91%
5 Year Change49.97%
Change since IPO-38.09%

Recent News & Updates

Shareholder Returns

PRESTIGENG InsuranceNG Market
7D-2.2%4.7%1.4%
1Y-25.0%34.4%41.3%

Return vs Industry: PRESTIGE underperformed the NG Insurance industry which returned 32.6% over the past year.

Return vs Market: PRESTIGE underperformed the NG Market which returned 40.4% over the past year.

Price Volatility

Is PRESTIGE's price volatile compared to industry and market?
PRESTIGE volatility
PRESTIGE Beta-0.051
Industry Beta0.70
Market Beta1

Stable Share Price: PRESTIGE is more volatile than 75% of NG stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: PRESTIGE's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of NG stocks.

About the Company

FoundedEmployeesCEOWebsite
195288Sarbeswar Sahoohttps://www.prestigeassuranceplc.com

Prestige Assurance Plc, a general insurance company, provides non-life insurance products in Nigeria. The company offers insurance products in the areas of motor, marine, bond, engineering, fire, aviation, oil and gas, and general accident. Its products include motor, health, travel, salary protection shield, personal accident, agricultural, burglary, money, householder, all risk, prestige device, and group personal accident insurance products; and marine cargo and hull, fidelity guarantee, and aviation insurance products.

Prestige Assurance Fundamentals Summary

How do Prestige Assurance's earnings and revenue compare to its market cap?
PRESTIGE fundamental statistics
Market Cap₦5.96b
Earnings (TTM)₦834.46m
Revenue (TTM)₦5.90b

7.1x

P/E Ratio

1.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PRESTIGE income statement (TTM)
Revenue₦5.90b
Cost of Revenue₦4.04b
Gross Profit₦1.87b
Expenses₦1.03b
Earnings₦834.46m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.063
Gross Margin31.59%
Net Profit Margin14.13%
Debt/Equity Ratio0.2%

How did PRESTIGE perform over the long term?

See historical performance and comparison

Dividends

5.6%

Current Dividend Yield

21%

Payout Ratio

Valuation

Is Prestige Assurance undervalued compared to its fair value and its price relative to the market?

7.15x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate PRESTIGE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate PRESTIGE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: PRESTIGE is poor value based on its PE Ratio (7.1x) compared to the NG Insurance industry average (5x).

PE vs Market: PRESTIGE is good value based on its PE Ratio (7.1x) compared to the NG market (7.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PRESTIGE's PB Ratio (0.5x) is in line with the NG Insurance industry average.


Future Growth

How is Prestige Assurance 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 Prestige Assurance 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 Prestige Assurance performed over the past 5 years?

23.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PRESTIGE has high quality earnings.

Growing Profit Margin: PRESTIGE's current net profit margins (14.1%) are lower than last year (16%).


Past Earnings Growth Analysis

Earnings Trend: PRESTIGE has become profitable over the past 5 years, growing earnings by 23.8% per year.

Accelerating Growth: PRESTIGE's earnings growth over the past year (18.2%) is below its 5-year average (23.8% per year).

Earnings vs Industry: PRESTIGE earnings growth over the past year (18.2%) exceeded the Insurance industry 3.1%.


Return on Equity

High ROE: PRESTIGE's Return on Equity (6.5%) is considered low.


Financial Health

How is Prestige Assurance's financial position?


Financial Position Analysis

Short Term Liabilities: PRESTIGE's short term assets (NGN9.6B) exceed its short term liabilities (NGN5.9B).

Long Term Liabilities: PRESTIGE's short term assets (NGN9.6B) exceed its long term liabilities (NGN640.2M).


Debt to Equity History and Analysis

Debt Level: PRESTIGE's debt to equity ratio (0.2%) is considered satisfactory.

Reducing Debt: PRESTIGE's debt to equity ratio has reduced from 2.3% to 0.2% over the past 5 years.

Debt Coverage: PRESTIGE's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: PRESTIGE's interest payments on its debt are well covered by EBIT (141.3x coverage).


Balance Sheet


Dividend

What is Prestige Assurance current dividend yield, its reliability and sustainability?

5.56%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PRESTIGE's dividend (5.56%) is higher than the bottom 25% of dividend payers in the NG market (3.28%).

High Dividend: PRESTIGE's dividend (5.56%) is low compared to the top 25% of dividend payers in the NG market (7.27%).


Stability and Growth of Payments

Stable Dividend: PRESTIGE's dividend payments have been volatile in the past 10 years.

Growing Dividend: PRESTIGE's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.8%), PRESTIGE'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?

5.4yrs

Average management tenure


CEO

Sarbeswar Sahoo

1.83yrs

Tenure

Mr. Sarbeswar Sahoo has been Managing Director at Prestige Assurance Plc since December 19, 2019 and has been its Chief Executive Officer and served as its General Manager of Risk Control from November 201...


Leadership Team

Experienced Management: PRESTIGE's management team is seasoned and experienced (5.4 years average tenure).


Board Members

Experienced Board: PRESTIGE's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


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 been substantially diluted in the past year, with total shares outstanding growing by 108.3%.


Top Shareholders

Company Information

Prestige Assurance Plc's employee growth, exchange listings and data sources


Key Information

  • Name: Prestige Assurance Plc
  • Ticker: PRESTIGE
  • Exchange: NGSE
  • Founded: 1952
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Market Cap: ₦5.964b
  • Shares outstanding: 13.25b
  • Website: https://www.prestigeassuranceplc.com

Number of Employees


Location

  • Prestige Assurance Plc
  • Prestige House
  • 19, 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 Analysis2021/10/21 20:59
End of Day Share Price2021/10/21 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.