Meyer Plc manufactures and sells paint products, coating, adhesives, and flooring products in Nigeria.
Price History & Performance
|Historical stock prices|
|Current Share Price||₦0.20|
|52 Week High||₦0.41|
|52 Week Low||₦0.62|
|1 Month Change||0%|
|3 Month Change||-66.10%|
|1 Year Change||-60.00%|
|3 Year Change||-70.59%|
|5 Year Change||-78.02%|
|Change since IPO||-79.24%|
Recent News & Updates
|MEYER||NG Chemicals||NG Market|
Return vs Industry: MEYER underperformed the NG Chemicals industry which returned 3.4% over the past year.
Return vs Market: MEYER underperformed the NG Market which returned 40.4% over the past year.
Stable Share Price: MEYER is more volatile than 90% of NG stocks over the past 3 months, typically moving +/- 19% a week.
Volatility Over Time: MEYER's weekly volatility has increased from 10% to 19% over the past year.
About the Company
Meyer Plc manufactures and sells paint products, coating, adhesives, and flooring products in Nigeria. The company operates in Paints and Painting services segments. It is also involved in application of paints on completed buildings.
Meyer Fundamentals Summary
|MEYER fundamental statistics|
Is MEYER overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|MEYER income statement (TTM)|
|Cost of Revenue||₦621.25m|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
|Earnings per share (EPS)||2.47|
|Net Profit Margin||120.36%|
How did MEYER perform over the long term?See historical performance and comparison
750.0%Current Dividend Yield
Is Meyer undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MEYER (NGN0.2) is trading below our estimate of fair value (NGN14.77)
Significantly Below Fair Value: MEYER is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MEYER is good value based on its PE Ratio (0.1x) compared to the African Chemicals industry average (12.9x).
PE vs Market: MEYER is good value based on its PE Ratio (0.1x) compared to the NG market (7.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MEYER's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MEYER is good value based on its PB Ratio (0.1x) compared to the NG Chemicals industry average (1.6x).
How is Meyer forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Materials 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 Meyer 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.
How has Meyer performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MEYER has a large one-off gain of NGN1.7B impacting its September 30 2021 financial results.
Growing Profit Margin: MEYER became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: MEYER's earnings have grown significantly by 67.4% per year over the past 5 years.
Accelerating Growth: MEYER has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: MEYER has become profitable in the last year, making it difficult to compare its past year earnings growth to the Chemicals industry (27%).
Return on Equity
High ROE: MEYER's Return on Equity (81.3%) is considered outstanding.
How is Meyer's financial position?
Financial Position Analysis
Short Term Liabilities: MEYER's short term assets (NGN1.7B) exceed its short term liabilities (NGN507.8M).
Long Term Liabilities: MEYER's short term assets (NGN1.7B) exceed its long term liabilities (NGN30.4M).
Debt to Equity History and Analysis
Debt Level: MEYER's debt to equity ratio (0.1%) is considered satisfactory.
Reducing Debt: MEYER's debt to equity ratio has reduced from 101.2% to 0.1% over the past 5 years.
Debt Coverage: MEYER's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if MEYER's interest payments on its debt are well covered by EBIT.
What is Meyer current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MEYER's dividend (750%) is higher than the bottom 25% of dividend payers in the NG market (3.28%).
High Dividend: MEYER's dividend (750%) is in the top 25% of dividend payers in the NG market (7.27%)
Stability and Growth of Payments
Stable Dividend: Too early to tell whether MEYER's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if MEYER's dividend payments are increasing as they only just started paying a dividend.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (60.7%), MEYER's dividend payments are 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.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Meyer has no CEO, or we have no data on them.
Experienced Management: MEYER's management team is considered experienced (3.1 years average tenure).
Experienced Board: MEYER's board of directors are seasoned and experienced ( 11.3 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Meyer Plc's employee growth, exchange listings and data sources
- Name: Meyer Plc
- Ticker: MEYER
- Exchange: NGSE
- Founded: 1940
- Industry: Commodity Chemicals
- Sector: Materials
- Market Cap: ₦99.546m
- Shares outstanding: 497.73m
- Website: https://www.meyerpaints.com
Number of Employees
- Meyer Plc
- No 32 Billings way
- Oregun Industrial Estate
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/21 20:59|
|End of Day Share Price||2021/10/21 00:00|
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.