The Initiates Plc (NGX:TIP)

The Initiates Ratios and Metrics

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

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Oct 7, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	12,371	2,225	1,023	427	329	463
Market Cap Growth	568.27%	117.39%	139.58%	29.73%	-28.85%	-25.71%
Enterprise Value	12,528	2,701	1,704	837	332	447
Last Close Price	13.90	2.24	1.00	0.42	0.32	0.45
PE Ratio	5.67	1.61	2.94	-	-	-
PS Ratio	1.76	0.48	0.55	0.51	0.99	1.03
PB Ratio	3.74	0.90	0.87	0.60	0.43	0.55
P/TBV Ratio	3.74	0.90	0.87	0.60	0.43	0.55
P/FCF Ratio	33.10	16.25	-	-	-	-
P/OCF Ratio	17.97	3.44	3.50	1.68	21.18	24.22
EV/Sales Ratio	1.78	0.58	0.92	1.00	0.99	1.00
EV/EBITDA Ratio	3.95	1.30	3.36	21.38	32.23	10.59
EV/EBIT Ratio	4.01	1.35	3.71	-	-	-
EV/FCF Ratio	33.52	19.73	-	-	-	-
Debt / Equity Ratio	0.06	0.21	0.70	0.98	0.91	0.02
Debt / EBITDA Ratio	0.06	0.26	1.62	17.88	68.00	0.40
Debt / FCF Ratio	0.54	3.86	-	-	-	-
Asset Turnover	1.52	1.21	0.80	0.43	0.23	0.39
Inventory Turnover	78.24	103.33	84.30	61.92	48.81	51.23
Quick Ratio	1.51	1.42	0.97	0.76	3.99	0.70
Current Ratio	1.68	1.44	1.11	0.92	4.52	1.46
Return on Equity (ROE)	91.15%	75.55%	36.83%	-7.26%	-9.59%	-9.46%
Return on Assets (ROA)	42.13%	32.65%	12.35%	-0.15%	-1.44%	-0.04%
Return on Capital (ROIC)	70.37%	50.14%	16.84%	-0.21%	-1.82%	-0.06%
Return on Capital Employed (ROCE)	83.20%	64.90%	24.80%	-	-	-
Earnings Yield	17.64%	62.01%	34.02%	-12.57%	-23.46%	-18.11%
FCF Yield	3.02%	6.15%	-0.13%	-88.88%	-2.26%	-3.72%
Dividend Yield	0.71%	4.47%	6.00%	-	-	-
Payout Ratio	6.59%	4.09%	-	-	-	-
Total Shareholder Return	0.71%	4.47%	6.00%	-	-	-

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