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MAYB

May & Baker NigeriaNGSE:MAYBAKER Stock Report

Market Cap

₦7.5b

7D

-8.0%

1Y

45.3%

Updated

21 Oct, 2021

Data

Company Financials +
MAYBAKER fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance3/6
Financial Health4/6
Dividends2/6

MAYBAKER Overview

May & Baker Nigeria Plc manufactures, sells, and distributes human pharmaceuticals, human vaccines, and consumer products in Nigeria.

Price History & Performance

Summary of all time highs, changes and price drops for May & Baker Nigeria
Historical stock prices
Current Share Price₦4.36
52 Week High₦3.05
52 Week Low₦5.18
Beta0.22
1 Month Change-2.46%
3 Month Change-1.58%
1 Year Change45.33%
3 Year Change85.53%
5 Year Change431.71%
Change since IPO225.55%

Recent News & Updates

Shareholder Returns

MAYBAKERNG PharmaceuticalsNG Market
7D-8.0%1.4%1.4%
1Y45.3%39.0%41.3%

Return vs Industry: MAYBAKER exceeded the NG Pharmaceuticals industry which returned 39.5% over the past year.

Return vs Market: MAYBAKER exceeded the NG Market which returned 40.4% over the past year.

Price Volatility

Is MAYBAKER's price volatile compared to industry and market?
MAYBAKER volatility
MAYBAKER Beta0.22
Industry Beta0.56
Market Beta1

Stable Share Price: MAYBAKER is not significantly more volatile than the rest of NG stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: MAYBAKER's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1944346Patrick Ajahhttps://www.may-baker.com

May & Baker Nigeria Plc manufactures, sells, and distributes human pharmaceuticals, human vaccines, and consumer products in Nigeria. It operates through Pharmaceuticals and Beverage segments. The company offers pharmaceuticals, including anti-diabetic; anti-hypersensitive; anti-infective; anti-malaria; analgesic; cough and cold; anxiolytics; and nature care products.

May & Baker Nigeria Fundamentals Summary

How do May & Baker Nigeria's earnings and revenue compare to its market cap?
MAYBAKER fundamental statistics
Market Cap₦7.52b
Earnings (TTM)₦1.08b
Revenue (TTM)₦10.84b

7.0x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MAYBAKER income statement (TTM)
Revenue₦10.84b
Cost of Revenue₦6.32b
Gross Profit₦4.53b
Expenses₦3.44b
Earnings₦1.08b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.63
Gross Margin41.74%
Net Profit Margin9.97%
Debt/Equity Ratio61.5%

How did MAYBAKER perform over the long term?

See historical performance and comparison

Dividends

6.9%

Current Dividend Yield

48%

Payout Ratio

Valuation

Is May & Baker Nigeria undervalued compared to its fair value and its price relative to the market?

6.96x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MAYBAKER (NGN4.36) is trading above our estimate of fair value (NGN2.37)

Significantly Below Fair Value: MAYBAKER is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MAYBAKER is good value based on its PE Ratio (7x) compared to the African Pharmaceuticals industry average (9.7x).

PE vs Market: MAYBAKER is good value based on its PE Ratio (7x) compared to the NG market (7.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MAYBAKER is good value based on its PB Ratio (1.1x) compared to the XF Pharmaceuticals industry average (1.5x).


Future Growth

How is May & Baker Nigeria forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

14.3%

Forecasted Pharmaceuticals & Biotech 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 May & Baker Nigeria 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 May & Baker Nigeria performed over the past 5 years?

39.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MAYBAKER has high quality earnings.

Growing Profit Margin: MAYBAKER's current net profit margins (10%) are lower than last year (10.7%).


Past Earnings Growth Analysis

Earnings Trend: MAYBAKER's earnings have grown significantly by 39.3% per year over the past 5 years.

Accelerating Growth: MAYBAKER's earnings growth over the past year (24.4%) is below its 5-year average (39.3% per year).

Earnings vs Industry: MAYBAKER earnings growth over the past year (24.4%) exceeded the Pharmaceuticals industry 10%.


Return on Equity

High ROE: MAYBAKER's Return on Equity (15.9%) is considered low.


Financial Health

How is May & Baker Nigeria's financial position?


Financial Position Analysis

Short Term Liabilities: MAYBAKER's short term assets (NGN9.0B) exceed its short term liabilities (NGN3.5B).

Long Term Liabilities: MAYBAKER's short term assets (NGN9.0B) exceed its long term liabilities (NGN3.9B).


Debt to Equity History and Analysis

Debt Level: MAYBAKER's debt to equity ratio (61.5%) is considered high.

Reducing Debt: MAYBAKER's debt to equity ratio has reduced from 93.8% to 61.5% over the past 5 years.

Debt Coverage: MAYBAKER's debt is not well covered by operating cash flow (10.3%).

Interest Coverage: MAYBAKER's interest payments on its debt are well covered by EBIT (5x coverage).


Balance Sheet


Dividend

What is May & Baker Nigeria current dividend yield, its reliability and sustainability?

6.88%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MAYBAKER's dividend (6.88%) is higher than the bottom 25% of dividend payers in the NG market (3.28%).

High Dividend: MAYBAKER's dividend (6.88%) is low compared to the top 25% of dividend payers in the NG market (7.27%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, MAYBAKER has been paying a dividend for less than 10 years.

Growing Dividend: MAYBAKER's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (47.9%), MAYBAKER'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?

2.6yrs

Average board tenure


CEO

Patrick Ajah

0.75

Tenure

Mr. Patrick Ajah serves as Managing Director, Chief Executive Officer and Executive Director at May & Baker Nigeria plc since January 01, 2021. He is a passionate and visionary leader with over two decades...


Board Members

Experienced Board: MAYBAKER's board of directors are not considered experienced ( 2.6 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

May & Baker Nigeria plc's employee growth, exchange listings and data sources


Key Information

  • Name: May & Baker Nigeria plc
  • Ticker: MAYBAKER
  • Exchange: NGSE
  • Founded: 1944
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: ₦7.522b
  • Shares outstanding: 1.73b
  • Website: https://www.may-baker.com

Number of Employees


Location

  • May & Baker Nigeria plc
  • Industrial Estate
  • 3/5 Sapara Street
  • Lagos
  • 21049
  • 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.