Linkage Assurance Ratios and Metrics

Market cap in millions NGN. Fiscal year is January - December.

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May '26 May 22, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	33,264	32,894	18,172	11,200	5,600	7,140
Market Cap Growth	77.05%	81.02%	62.25%	100.00%	-21.57%	37.31%
Enterprise Value	29,382	26,925	14,590	7,674	1,688	4,014
PE Ratio	4.00	10.52	3.27	2.12	3.21	-
PS Ratio	1.00	1.35	0.90	0.77	0.41	0.98
PB Ratio	0.63	0.71	0.42	0.34	0.24	0.28
P/OCF Ratio	-	-	-	13.35	-	-
EV/Sales Ratio	0.89	1.11	0.72	0.53	0.12	0.55
EV/EBITDA Ratio	2.61	4.99	4.80	2.44	0.95	-
EV/EBIT Ratio	2.73	5.48	5.68	2.66	1.09	-
Net Debt / Equity Ratio	-0.07	-0.09	-0.13	-0.17	-0.18	-0.14
Net Debt / EBITDA Ratio	-0.35	-0.82	-1.78	-1.75	-2.36	0.88
Net Debt / FCF Ratio	0.29	1.60	2.52	14.01	2.66	2.34
Quick Ratio	7.23	1.40	1.27	1.21	8.88	0.92
Current Ratio	13.26	1.68	1.62	1.51	12.63	1.32
Asset Turnover	0.42	0.34	0.35	0.32	0.35	0.20
Return on Equity (ROE)	17.93%	6.98%	14.63%	18.66%	7.17%	-15.50%
Return on Assets (ROA)	8.57%	4.31%	2.74%	4.00%	2.50%	-7.12%
Return on Invested Capital (ROIC)	19.10%	8.51%	6.77%	9.85%	5.94%	-16.06%
Earnings Yield	25.96%	9.50%	30.55%	47.16%	31.17%	-55.89%
FCF Yield	-39.88%	-8.41%	-11.81%	-3.51%	-28.09%	-20.84%
Dividend Yield	-	-	-	7.47%	-	-
Payout Ratio	-	-	12.61%	-	-	-
Buyback Yield / Dilution	-3.58%	0.63%	-0.14%	-	-	-
Total Shareholder Return	-3.58%	0.63%	-0.14%	7.47%	-	-

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.