Royal Exchange 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	Apr '26 Apr 1, 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	13,227	15,376	8,267	3,242	5,454	4,528
Market Cap Growth	110.53%	86.00%	155.02%	-40.57%	20.46%	255.75%
Enterprise Value	12,547	15,967	9,118	4,523	7,126	3,903
PE Ratio	14.31	16.64	8.22	-	-	-
PS Ratio	7.34	8.54	4.64	3.25	9.57	11.96
PB Ratio	1.83	2.13	1.32	0.86	2.59	2.25
P/FCF Ratio	12.02	13.97	-	-	4.76	-
P/OCF Ratio	10.35	12.03	-	-	4.72	-
EV/Sales Ratio	6.97	8.87	5.12	4.53	12.51	10.31
EV/EBITDA Ratio	9.86	12.55	7.58	63.04	39.90	14.66
EV/EBIT Ratio	9.97	12.69	7.62	69.28	41.41	14.83
EV/FCF Ratio	11.40	14.51	-	-	6.22	-
Debt / Equity Ratio	0.23	0.23	0.18	0.48	0.26	1.20
Debt / EBITDA Ratio	1.29	1.29	0.93	25.58	3.05	8.94
Debt / FCF Ratio	1.50	1.50	-	-	0.48	-
Net Debt / Equity Ratio	-0.09	-0.09	-0.01	0.36	-0.03	0.89
Net Debt / EBITDA Ratio	-0.53	-0.53	-0.03	19.02	-0.36	6.74
Net Debt / FCF Ratio	-0.62	-0.62	0.09	-1.18	-0.06	-0.23
Quick Ratio	10.94	10.94	1.95	0.51	0.38	0.07
Current Ratio	15.10	15.10	3.76	2.04	1.04	0.79
Asset Turnover	0.17	0.17	0.21	0.13	0.05	0.02
Return on Equity (ROE)	13.72%	13.72%	20.02%	-7.00%	-7.32%	0.25%
Return on Assets (ROA)	7.36%	7.36%	8.66%	0.52%	0.98%	0.71%
Return on Invested Capital (ROIC)	13.79%	15.50%	18.00%	1.58%	4.87%	2.95%
Earnings Yield	6.99%	6.01%	12.17%	-6.36%	-5.30%	-37.48%
FCF Yield	8.32%	7.16%	-4.68%	-35.79%	20.99%	-169.81%
Payout Ratio	-	-	7.92%	-	-	-
Buyback Yield / Dilution	-6.84%	-6.84%	-50.38%	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.