| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 0/6 |
| Past Performance | 5/6 |
| Financial Health | 5/6 |
| Dividends | 4/6 |
WAPCO Overview
Lafarge Africa Plc, together with its subsidiaries, manufactures and sells a range of cement products in Nigeria and South Africa.
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₦24.70 |
| 52 Week High | ₦17.55 |
| 52 Week Low | ₦31.50 |
| Beta | 1.28 |
| 1 Month Change | 10.27% |
| 3 Month Change | 7.86% |
| 1 Year Change | 37.22% |
| 3 Year Change | 35.34% |
| 5 Year Change | -48.00% |
| Change since IPO | 1,773.79% |
Recent News & Updates
Shareholder Returns
| WAPCO | NG Basic Materials | NG Market | |
|---|---|---|---|
| 7D | -0.2% | 1.1% | 1.5% |
| 1Y | 37.2% | 66.7% | 40.2% |
Return vs Industry: WAPCO underperformed the NG Basic Materials industry which returned 66.3% over the past year.
Return vs Market: WAPCO underperformed the NG Market which returned 40.9% over the past year.
Price Volatility
| WAPCO volatility | |
|---|---|
| WAPCO Beta | 1.28 |
| Industry Beta | 0.51 |
| Market Beta | 1 |
Stable Share Price: WAPCO is not significantly more volatile than the rest of NG stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: WAPCO's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1959 | 1,379 | Khaled Abdel El Dokani | https://www.lafarge.com.ng |
Lafarge Africa Plc, together with its subsidiaries, manufactures and sells a range of cement products in Nigeria and South Africa. It also offers other cementitious products, such as ready-mix concrete, aggregates, and fly-ash. The company offers its products under the Elephant, Powermax, Supaset, Etex, SRC, Ashaka, and Supafix brands.
Lafarge Africa Fundamentals Summary
| WAPCO fundamental statistics | |
|---|---|
| Market Cap | ₦402.69b |
| Earnings (TTM) | ₦35.84b |
| Revenue (TTM) | ₦255.05b |
11.1x
P/E Ratio1.6x
P/S RatioIs WAPCO overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| WAPCO income statement (TTM) | |
|---|---|
| Revenue | ₦255.05b |
| Cost of Revenue | ₦180.33b |
| Gross Profit | ₦74.72b |
| Expenses | ₦38.89b |
| Earnings | ₦35.84b |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.22 |
| Gross Margin | 29.30% |
| Net Profit Margin | 14.05% |
| Debt/Equity Ratio | 3.9% |
How did WAPCO perform over the long term?
See historical performance and comparisonDividends
4.0%
Current Dividend Yield45%
Payout RatioValuation
Is Lafarge Africa undervalued compared to its fair value and its price relative to the market?
31.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WAPCO (NGN24.7) is trading below our estimate of fair value (NGN35.96)
Significantly Below Fair Value: WAPCO is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: WAPCO is good value based on its PE Ratio (11.1x) compared to the African Basic Materials industry average (12.1x).
PE vs Market: WAPCO is poor value based on its PE Ratio (11.1x) compared to the NG market (7.4x).
Price to Earnings Growth Ratio
PEG Ratio: WAPCO is poor value based on its PEG Ratio (3.6x)
Price to Book Ratio
PB vs Industry: WAPCO is good value based on its PB Ratio (1.1x) compared to the XF Basic Materials industry average (2.4x).
Future Growth
How is Lafarge Africa forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
3.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WAPCO's forecast earnings growth (3.1% per year) is below the savings rate (13.2%).
Earnings vs Market: WAPCO's earnings (3.1% per year) are forecast to grow slower than the NG market (15.4% per year).
High Growth Earnings: WAPCO's earnings are forecast to grow, but not significantly.
Revenue vs Market: WAPCO's revenue (3.6% per year) is forecast to grow slower than the NG market (10.4% per year).
High Growth Revenue: WAPCO's revenue (3.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: WAPCO's Return on Equity is forecast to be low in 3 years time (10.8%).
Past Performance
How has Lafarge Africa performed over the past 5 years?
26.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WAPCO has high quality earnings.
Growing Profit Margin: WAPCO's current net profit margins (14.1%) are higher than last year (10.7%).
Past Earnings Growth Analysis
Earnings Trend: WAPCO has become profitable over the past 5 years, growing earnings by 26.2% per year.
Accelerating Growth: WAPCO's earnings growth over the past year (55.8%) exceeds its 5-year average (26.2% per year).
Earnings vs Industry: WAPCO earnings growth over the past year (55.8%) exceeded the Basic Materials industry 44.8%.
Return on Equity
High ROE: WAPCO's Return on Equity (9.6%) is considered low.
Financial Health
How is Lafarge Africa's financial position?
Financial Position Analysis
Short Term Liabilities: WAPCO's short term assets (NGN116.5B) do not cover its short term liabilities (NGN121.3B).
Long Term Liabilities: WAPCO's short term assets (NGN116.5B) exceed its long term liabilities (NGN18.5B).
Debt to Equity History and Analysis
Debt Level: WAPCO's debt to equity ratio (3.9%) is considered satisfactory.
Reducing Debt: WAPCO's debt to equity ratio has reduced from 130.8% to 3.9% over the past 5 years.
Debt Coverage: WAPCO's debt is well covered by operating cash flow (600%).
Interest Coverage: WAPCO's interest payments on its debt are well covered by EBIT (8.7x coverage).
Balance Sheet
Dividend
What is Lafarge Africa current dividend yield, its reliability and sustainability?
4.05%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: WAPCO's dividend (4.05%) is higher than the bottom 25% of dividend payers in the NG market (3.33%).
High Dividend: WAPCO's dividend (4.05%) is low compared to the top 25% of dividend payers in the NG market (7.34%).
Stability and Growth of Payments
Stable Dividend: WAPCO's dividend payments have been volatile in the past 10 years.
Growing Dividend: WAPCO's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (44.9%), WAPCO's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WAPCO's dividends in 3 years are forecast to be covered by earnings (72.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.3yrs
Average management tenure
CEO
Khaled Abdel El Dokani
1.75yrs
Tenure
₦345,516,704
Compensation
Mr. Khaled Abdel Aziz El Dokani is Group Managing Director, Chief Executive Officer and Director at Lafarge Africa Plc since January 18, 2020. Prior to appointment, he was the Country CEO of Iraq, a role h...
CEO Compensation Analysis
Compensation vs Market: Khaled Abdel's total compensation ($USD839.71K) is about average for companies of similar size in the NG market ($USD877.75K).
Compensation vs Earnings: Insufficient data to compare Khaled Abdel's compensation with company performance.
Leadership Team
Experienced Management: WAPCO's management team is considered experienced (2.3 years average tenure).
Board Members
Experienced Board: WAPCO's board of directors are not considered experienced ( 1.8 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 not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Lafarge Africa Plc's employee growth, exchange listings and data sources
Key Information
- Name: Lafarge Africa Plc
- Ticker: WAPCO
- Exchange: NGSE
- Founded: 1959
- Industry: Construction Materials
- Sector: Materials
- Market Cap: ₦402.695b
- Shares outstanding: 16.11b
- Website: https://www.lafarge.com.ng
Number of Employees
Location
- Lafarge Africa Plc
- 27B, Gerrard Road
- Ikoyi
- Nigeria
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/25 16:46 |
| End of Day Share Price | 2021/10/25 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
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.