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VERI

Veritas Kapital AssuranceNGSE:VERITASKAP Stock Report

Market Cap

₦2.8b

7D

4.5%

1Y

15.0%

Updated

17 Oct, 2021

Data

Company Financials
VERITASKAP fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance3/6
Financial Health6/6
Dividends0/6

VERITASKAP Overview

Veritas Kapital Assurance Plc provides non-life insurance products and services to individuals and institutions in Nigeria.

Price History & Performance

Summary of all time highs, changes and price drops for Veritas Kapital Assurance
Historical stock prices
Current Share Price₦0.23
52 Week High₦0.20
52 Week Low₦0.34
Beta0.24
1 Month Change0%
3 Month Change-8.00%
1 Year Change15.00%
3 Year Change-23.33%
5 Year Change-54.00%
Change since IPO-67.72%

Recent News & Updates

Shareholder Returns

VERITASKAPNG InsuranceNG Market
7D4.5%3.4%1.6%
1Y15.0%26.9%40.0%

Return vs Industry: VERITASKAP underperformed the NG Insurance industry which returned 26.9% over the past year.

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

Price Volatility

Is VERITASKAP's price volatile compared to industry and market?
VERITASKAP volatility
VERITASKAP Beta0.24
Industry Beta0.70
Market Beta1

Stable Share Price: VERITASKAP is more volatile than 90% of NG stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: VERITASKAP's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of NG stocks.

About the Company

FoundedEmployeesCEOWebsite
197386Ken Egbaranhttps://veritaskapital.com

Veritas Kapital Assurance Plc provides non-life insurance products and services to individuals and institutions in Nigeria. The company operates through Non-Life Business, Pension Administration, and Health Care Segments. It offers marine, aviation, motor, oil and energy, bond, fire and property, household, agriculture, group and personal accident, and health insurance products.

Veritas Kapital Assurance Fundamentals Summary

How do Veritas Kapital Assurance's earnings and revenue compare to its market cap?
VERITASKAP fundamental statistics
Market Cap₦2.77b
Earnings (TTM)₦885.03m
Revenue (TTM)₦4.71b

3.6x

P/E Ratio

0.7x

P/S Ratio

Is VERITASKAP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
VERITASKAP income statement (TTM)
Revenue₦4.71b
Cost of Revenue₦1.47b
Gross Profit₦3.24b
Expenses₦2.35b
Earnings₦885.03m

Last Reported Earnings

Dec 31, 2020

Next Earnings Date

n/a

Earnings per share (EPS)0.064
Gross Margin68.80%
Net Profit Margin18.80%
Debt/Equity Ratio0.0%

How did VERITASKAP perform over the long term?

See historical performance and comparison

Valuation

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

3.6x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

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

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


Price To Earnings Ratio

PE vs Industry: VERITASKAP is good value based on its PE Ratio (3.6x) compared to the NG Insurance industry average (5.1x).

PE vs Market: VERITASKAP is good value based on its PE Ratio (3.6x) compared to the NG market (7.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: VERITASKAP's PB Ratio (0.4x) is in line with the NG Insurance industry average.


Future Growth

How is Veritas Kapital Assurance forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

27.1%

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 Veritas Kapital 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 Veritas Kapital Assurance performed over the past 5 years?

374.5%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: VERITASKAP has a high level of non-cash earnings.

Growing Profit Margin: VERITASKAP's current net profit margins (18.8%) are higher than last year (4.9%).


Past Earnings Growth Analysis

Earnings Trend: VERITASKAP has become profitable over the past 5 years.

Accelerating Growth: Insufficient data to compare VERITASKAP's past year earnings growth to its 5-year average.

Earnings vs Industry: VERITASKAP earnings growth over the past year (374.5%) exceeded the Insurance industry 3.1%.


Return on Equity

High ROE: VERITASKAP's Return on Equity (9.9%) is considered low.


Financial Health

How is Veritas Kapital Assurance's financial position?


Financial Position Analysis

Short Term Liabilities: VERITASKAP's short term assets (NGN9.4B) exceed its short term liabilities (NGN4.1B).

Long Term Liabilities: VERITASKAP's short term assets (NGN9.4B) exceed its long term liabilities (NGN578.4M).


Debt to Equity History and Analysis

Debt Level: VERITASKAP is debt free.

Reducing Debt: VERITASKAP has not had any debt for past 5 years.

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

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


Balance Sheet


Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate VERITASKAP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate VERITASKAP'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 VERITASKAP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VERITASKAP's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VERITASKAP'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

Ken Egbaran

2.25yrs

Tenure

Mr. Kenneth Edore Egbaran, ACII, ACIB, MBA., has been Managing Director and Chief Executive Officer of Veritas Kapital Assurance Plc since July 25, 2019 and also serves as its Director since January 2020....


Leadership Team

Experienced Management: VERITASKAP's management team is considered experienced (2.8 years average tenure).


Board Members

Experienced Board: VERITASKAP's board of directors are considered experienced (4.4 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

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


Key Information

  • Name: Veritas Kapital Assurance Plc
  • Ticker: VERITASKAP
  • Exchange: NGSE
  • Founded: 1973
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Market Cap: ₦2.773b
  • Shares outstanding: 13.87b
  • Website: https://veritaskapital.com

Number of Employees


Location

  • Veritas Kapital Assurance Plc
  • Plot 497
  • Off Constitution Avenue
  • Abuja
  • 13233
  • 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
Earnings2020/12/31
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.