company background image
MEYE

MeyerNGSE:MEYER Stock Report

Market Cap

₦99.5m

7D

0%

1Y

-60.0%

Updated

21 Oct, 2021

Data

Company Financials
MEYER fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance3/6
Financial Health4/6
Dividends3/6

MEYER Overview

Meyer Plc manufactures and sells paint products, coating, adhesives, and flooring products in Nigeria.

Price History & Performance

Summary of all time highs, changes and price drops for Meyer
Historical stock prices
Current Share Price₦0.20
52 Week High₦0.41
52 Week Low₦0.62
Beta0.055
1 Month Change0%
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

Shareholder Returns

MEYERNG ChemicalsNG Market
7D0%0%1.4%
1Y-60.0%3.5%41.3%

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.

Price Volatility

Is MEYER's price volatile compared to industry and market?
MEYER volatility
MEYER Beta0.055
Industry Beta1.88
Market Beta1

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

FoundedEmployeesCEOWebsite
194063n/ahttps://www.meyerpaints.com

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

How do Meyer's earnings and revenue compare to its market cap?
MEYER fundamental statistics
Market Cap₦99.55m
Earnings (TTM)₦1.23b
Revenue (TTM)₦1.02b

0.08x

P/E Ratio

0.1x

P/S Ratio


Dividends

750.0%

Current Dividend Yield

61%

Payout Ratio

Valuation

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

>50%

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).


Future Growth

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

17.5%

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.


Past Performance

How has Meyer performed over the past 5 years?

67.4%

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.


Financial Health

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.


Balance Sheet


Dividend

What is Meyer current dividend yield, its reliability and sustainability?

750.00%

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.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.1yrs

Average management tenure


CEO

Meyer has no CEO, or we have no data on them.


Leadership Team

Experienced Management: MEYER's management team is considered experienced (3.1 years average tenure).


Board Members

Experienced Board: MEYER's board of directors are seasoned and experienced ( 11.3 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

Meyer Plc's employee growth, exchange listings and data sources


Key Information

  • 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


Location

  • Meyer Plc
  • No 32 Billings way
  • Oregun Industrial Estate
  • Ikeja
  • 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
Earnings2021/09/30
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.