| Snowflake Score | |
|---|---|
| Valuation | 0/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 6/6 |
| Dividends | 3/6 |
AIP Overview
Adcock Ingram Holdings Limited manufactures, markets, and distributes healthcare products in South Africa, the United States, Canada, the United Kingdom, rest of Europe, and internationally.
Adcock Ingram Holdings Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | R48.53 |
| 52 Week High | R39.19 |
| 52 Week Low | R49.50 |
| Beta | 0.37 |
| 1 Month Change | 1.63% |
| 3 Month Change | 10.30% |
| 1 Year Change | 16.46% |
| 3 Year Change | -17.31% |
| 5 Year Change | 3.39% |
| Change since IPO | 42.53% |
Recent News & Updates
Shareholder Returns
| AIP | ZA Pharmaceuticals | ZA Market | |
|---|---|---|---|
| 7D | 3.7% | 0.6% | 0.7% |
| 1Y | 16.5% | 84.3% | 20.7% |
Return vs Industry: AIP underperformed the ZA Pharmaceuticals industry which returned 87.5% over the past year.
Return vs Market: AIP underperformed the ZA Market which returned 21.3% over the past year.
Price Volatility
| AIP volatility | |
|---|---|
| AIP Beta | 0.37 |
| Industry Beta | 0.56 |
| Market Beta | 1 |
Stable Share Price: AIP is less volatile than 75% of ZA stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: AIP's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1890 | n/a | Andy Hall | https://www.adcock.co.za |
Adcock Ingram Holdings Limited manufactures, markets, and distributes healthcare products in South Africa, the United States, Canada, the United Kingdom, rest of Europe, and internationally. It offers a portfolio of over the counter products, prescription medicines, and consumer products, as well as instrumentation and surgical products. The company also provides pharmaceutical products in a range of therapeutic classes, such as women’s health, cannabidiol, antiretroviral, dermatology, central nervous system, respiratory, ophthalmology, generics, cardiovascular, pain, gastroenterology, energy supplements, colds and flu, personal care, feminine hygiene, digestive well-being, allergies, baby care, cough, food and nutrition supplements, vitamins, and minerals supplements.
Adcock Ingram Holdings Fundamentals Summary
| AIP fundamental statistics | |
|---|---|
| Market Cap | R7.85b |
| Earnings (TTM) | R657.46m |
| Revenue (TTM) | R7.78b |
11.9x
P/E Ratio1.0x
P/S RatioIs AIP overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| AIP income statement (TTM) | |
|---|---|
| Revenue | R7.78b |
| Cost of Revenue | R5.13b |
| Gross Profit | R2.64b |
| Expenses | R1.99b |
| Earnings | R657.46m |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 4.06 |
| Gross Margin | 34.00% |
| Net Profit Margin | 8.45% |
| Debt/Equity Ratio | 0.3% |
How did AIP perform over the long term?
See historical performance and comparisonDividends
3.7%
Current Dividend Yield43%
Payout RatioValuation
Is Adcock Ingram Holdings undervalued compared to its fair value and its price relative to the market?
11.94x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: AIP (ZAR48.53) is trading above our estimate of fair value (ZAR37.13)
Significantly Below Fair Value: AIP is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: AIP is poor value based on its PE Ratio (11.9x) compared to the African Pharmaceuticals industry average (9.4x).
PE vs Market: AIP is poor value based on its PE Ratio (11.9x) compared to the ZA market (11.2x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate AIP's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: AIP's PB Ratio (1.7x) is in line with the XF Pharmaceuticals industry average.
Future Growth
How is Adcock Ingram Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
4.6%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if AIP's forecast earnings growth is above the savings rate (8.8%).
Earnings vs Market: Insufficient data to determine if AIP's earnings are forecast to grow faster than the ZA market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: AIP's revenue (4.6% per year) is forecast to grow slower than the ZA market (6.1% per year).
High Growth Revenue: AIP's revenue (4.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AIP's Return on Equity is forecast to be low in 3 years time (14.7%).
Past Performance
How has Adcock Ingram Holdings performed over the past 5 years?
8.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AIP has high quality earnings.
Growing Profit Margin: AIP's current net profit margins (8.5%) are lower than last year (9.2%).
Past Earnings Growth Analysis
Earnings Trend: AIP's earnings have grown by 8.7% per year over the past 5 years.
Accelerating Growth: AIP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AIP had negative earnings growth (-2.8%) over the past year, making it difficult to compare to the Pharmaceuticals industry average (10%).
Return on Equity
High ROE: AIP's Return on Equity (14.1%) is considered low.
Financial Health
How is Adcock Ingram Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: AIP's short term assets (ZAR3.7B) exceed its short term liabilities (ZAR2.0B).
Long Term Liabilities: AIP's short term assets (ZAR3.7B) exceed its long term liabilities (ZAR388.0M).
Debt to Equity History and Analysis
Debt Level: AIP's debt to equity ratio (0.3%) is considered satisfactory.
Reducing Debt: AIP's debt to equity ratio has reduced from 15.7% to 0.3% over the past 5 years.
Debt Coverage: AIP's debt is well covered by operating cash flow (3380.7%).
Interest Coverage: AIP's interest payments on its debt are well covered by EBIT (21.2x coverage).
Balance Sheet
Dividend
What is Adcock Ingram Holdings's current dividend yield, its reliability and sustainability?
3.71%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: AIP's dividend (3.71%) is higher than the bottom 25% of dividend payers in the ZA market (3.07%).
High Dividend: AIP's dividend (3.71%) is low compared to the top 25% of dividend payers in the ZA market (8.09%).
Stability and Growth of Payments
Stable Dividend: AIP's dividend payments have been volatile in the past 10 years.
Growing Dividend: AIP's dividend payments have not increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (42.9%), AIP's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AIP's dividends in 3 years are forecast to be well covered by earnings (44% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.7yrs
Average management tenure
CEO
Andy Hall (59 yo)
5.92yrs
Tenure
R12,397,000
Compensation
Mr. Andrew Gideon Hall, also known as Andy, CA (SA), BPharm has been the Chief Executive Officer of Adcock Ingram Holdings Limited since November 11, 2015. Mr. Hall served as Financial Director and Deputy...
CEO Compensation Analysis
Compensation vs Market: Andy's total compensation ($USD844.09K) is about average for companies of similar size in the ZA market ($USD731.45K).
Compensation vs Earnings: Andy's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
Experienced Management: AIP's management team is considered experienced (4.7 years average tenure).
Board Members
Experienced Board: AIP's board of directors are not considered experienced ( 2.3 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Adcock Ingram Holdings Limited's employee growth, exchange listings and data sources
Key Information
- Name: Adcock Ingram Holdings Limited
- Ticker: AIP
- Exchange: JSE
- Founded: 1890
- Industry: Pharmaceuticals
- Sector: Pharmaceuticals & Biotech
- Market Cap: R7.850b
- Shares outstanding: 161.76m
- Website: https://www.adcock.co.za
Number of Employees
Location
- Adcock Ingram Holdings Limited
- 1 New Road
- Midrand
- Gauteng
- 1682
- South Africa
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/18 21:36 |
| End of Day Share Price | 2021/10/18 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2021/06/30 |
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.