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NAHC

Nigerian Aviation HandlingNGSE:NAHCO Stock Report

Market Cap

₦5.8b

7D

0%

1Y

68.2%

Updated

19 Oct, 2021

Data

Company Financials
NAHCO fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health6/6
Dividends2/6

NAHCO Overview

Nigerian Aviation Handling Company Plc provides aircraft and cargo handling, passenger handling, and other related services in Nigeria.

Price History & Performance

Summary of all time highs, changes and price drops for Nigerian Aviation Handling
Historical stock prices
Current Share Price₦3.60
52 Week High₦2.00
52 Week Low₦3.70
Beta-0.24
1 Month Change18.42%
3 Month Change59.29%
1 Year Change68.22%
3 Year Change9.09%
5 Year Change28.11%
Change since IPO-20.64%

Recent News & Updates

Shareholder Returns

NAHCONG InfrastructureNG Market
7D0%0.4%0.6%
1Y68.2%31.8%38.8%

Return vs Industry: NAHCO exceeded the NG Infrastructure industry which returned 31.4% over the past year.

Return vs Market: NAHCO exceeded the NG Market which returned 38.9% over the past year.

Price Volatility

Is NAHCO's price volatile compared to industry and market?
NAHCO volatility
NAHCO Beta-0.24
Industry Beta0.68
Market Beta1

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

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

About the Company

FoundedEmployeesCEOWebsite
19791,508Olatokunbo Fagbemihttps://www.nahcoaviance.com

Nigerian Aviation Handling Company Plc provides aircraft and cargo handling, passenger handling, and other related services in Nigeria. The company offers aircraft handling services, including general air traffic, baggage, flight dispatch, and aircraft cleaning services; and passenger profiling, such as access control, passenger interviewing/screening, travel document verification, baggage screening, and baggage reconciliation services. It also offers crew transportation, aviation training, and fueling services; and leases ground handling equipment.

Nigerian Aviation Handling Fundamentals Summary

How do Nigerian Aviation Handling's earnings and revenue compare to its market cap?
NAHCO fundamental statistics
Market Cap₦5.85b
Earnings (TTM)₦934.68m
Revenue (TTM)₦8.26b

6.3x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NAHCO income statement (TTM)
Revenue₦8.26b
Cost of Revenue₦5.16b
Gross Profit₦3.10b
Expenses₦2.17b
Earnings₦934.68m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.58
Gross Margin37.54%
Net Profit Margin11.31%
Debt/Equity Ratio0%

How did NAHCO perform over the long term?

See historical performance and comparison

Dividends

3.5%

Current Dividend Yield

22%

Payout Ratio

Valuation

Is Nigerian Aviation Handling undervalued compared to its fair value and its price relative to the market?

6.26x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: NAHCO (NGN3.6) is trading above our estimate of fair value (NGN1.88)

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


Price To Earnings Ratio

PE vs Industry: NAHCO is good value based on its PE Ratio (6.3x) compared to the African Infrastructure industry average (10.7x).

PE vs Market: NAHCO is good value based on its PE Ratio (6.3x) compared to the NG market (7.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: NAHCO is good value based on its PB Ratio (0.8x) compared to the XF Infrastructure industry average (2.6x).


Future Growth

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

37.0%

Forecasted Transportation 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 Nigerian Aviation Handling 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 Nigerian Aviation Handling performed over the past 5 years?

-7.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NAHCO has high quality earnings.

Growing Profit Margin: NAHCO's current net profit margins (11.3%) are higher than last year (1.2%).


Past Earnings Growth Analysis

Earnings Trend: NAHCO's earnings have declined by 7.8% per year over the past 5 years.

Accelerating Growth: NAHCO's earnings growth over the past year (813.8%) exceeds its 5-year average (-7.8% per year).

Earnings vs Industry: NAHCO earnings growth over the past year (813.8%) exceeded the Infrastructure industry 0.2%.


Return on Equity

High ROE: NAHCO's Return on Equity (13.7%) is considered low.


Financial Health

How is Nigerian Aviation Handling's financial position?


Financial Position Analysis

Short Term Liabilities: NAHCO's short term assets (NGN6.8B) exceed its short term liabilities (NGN5.7B).

Long Term Liabilities: NAHCO's short term assets (NGN6.8B) exceed its long term liabilities (NGN2.1B).


Debt to Equity History and Analysis

Debt Level: NAHCO is debt free.

Reducing Debt: NAHCO has no debt compared to 5 years ago when its debt to equity ratio was 60.9%.

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

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


Balance Sheet


Dividend

What is Nigerian Aviation Handling current dividend yield, its reliability and sustainability?

3.47%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NAHCO's dividend (3.47%) is higher than the bottom 25% of dividend payers in the NG market (3.25%).

High Dividend: NAHCO's dividend (3.47%) is low compared to the top 25% of dividend payers in the NG market (7.24%).


Stability and Growth of Payments

Stable Dividend: NAHCO's dividend payments have been volatile in the past 10 years.

Growing Dividend: NAHCO's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (21.7%), NAHCO'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?

2.8yrs

Average management tenure


CEO

Olatokunbo Fagbemi

2.83yrs

Tenure

Ms. Olatokunbo A. Fagbemi is Director at Nigerian Aviation Handling Company Plc since August 2018 and serves its Group Managing Director and Chief Executive Officer since December 2018. Mrs. Olatokunbo A....


Leadership Team

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


Board Members

Experienced Board: NAHCO's board of directors are not considered experienced ( 2.9 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

Nigerian Aviation Handling Company Plc's employee growth, exchange listings and data sources


Key Information

  • Name: Nigerian Aviation Handling Company Plc
  • Ticker: NAHCO
  • Exchange: NGSE
  • Founded: 1979
  • Industry: Airport Services
  • Sector: Transportation
  • Market Cap: ₦5.847b
  • Shares outstanding: 1.62b
  • Website: https://www.nahcoaviance.com

Number of Employees


Location

  • Nigerian Aviation Handling Company Plc
  • Nahco Aviance House
  • Murtala Muhammed International Airport
  • Lagos
  • Nigeria

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 15:21
End of Day Share Price2021/10/18 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.