The Initiates Plc (NGX:TIP)

The Initiates Statistics

Total Valuation

The Initiates has a market cap or net worth of NGN 10.37 billion. The enterprise value is 10.23 billion.

Market Cap	10.37B
Enterprise Value	10.23B

Important Dates

The last earnings date was Tuesday, October 28, 2025.

Earnings Date	Oct 28, 2025
Ex-Dividend Date	n/a

Share Statistics

The Initiates has 889.98 million shares outstanding.

Current Share Class	889.98M
Shares Outstanding	889.98M
Shares Change (YoY)	n/a
Shares Change (QoQ)	-0.00%
Owned by Insiders (%)	23.83%
Owned by Institutions (%)	n/a
Float	581.75M

Valuation Ratios

The trailing PE ratio is 3.77.

PE Ratio	3.77
Forward PE	n/a
PS Ratio	1.35
PB Ratio	2.48
P/TBV Ratio	2.48
P/FCF Ratio	18.41
P/OCF Ratio	7.24
PEG Ratio	n/a

Enterprise Valuation

The stock's EV/EBITDA ratio is 2.44, with an EV/FCF ratio of 18.16.

EV / Earnings	3.72
EV / Sales	1.33
EV / EBITDA	2.44
EV / EBIT	2.50
EV / FCF	18.16

Financial Position

The company has a current ratio of 1.95, with a Debt / Equity ratio of 0.05.

Current Ratio	1.95
Quick Ratio	1.83
Debt / Equity	0.05
Debt / EBITDA	0.05
Debt / FCF	0.36
Interest Coverage	89.48

Financial Efficiency

Return on equity (ROE) is 95.06% and return on invested capital (ROIC) is 77.90%.

Return on Equity (ROE)	95.06%
Return on Assets (ROA)	45.78%
Return on Invested Capital (ROIC)	77.90%
Return on Capital Employed (ROCE)	86.33%
Revenue Per Employee	132.72M
Profits Per Employee	47.36M
Employee Count	55
Asset Turnover	1.38
Inventory Turnover	89.01

Taxes

In the past 12 months, The Initiates has paid 1.33 billion in taxes.

Income Tax	1.33B
Effective Tax Rate	32.56%

Stock Price Statistics

The stock price has increased by +360.47% in the last 52 weeks. The beta is -0.03, so The Initiates's price volatility has been lower than the market average.

Beta (5Y)	-0.03
52-Week Price Change	+360.47%
50-Day Moving Average	12.77
200-Day Moving Average	8.64
Relative Strength Index (RSI)	46.21
Average Volume (20 Days)	4,620,148

Short Selling Information

Short Interest	n/a
Short Previous Month	n/a
Short % of Shares Out	n/a
Short % of Float	n/a
Short Ratio (days to cover)	n/a

Income Statement

In the last 12 months, The Initiates had revenue of NGN 7.70 billion and earned 2.75 billion in profits. Earnings per share was 3.09.

Revenue	7.70B
Gross Profit	4.75B
Operating Income	4.09B
Pretax Income	4.07B
Net Income	2.75B
EBITDA	4.20B
EBIT	4.09B
Earnings Per Share (EPS)	3.09

Balance Sheet

The company has 342.48 million in cash and 200.00 million in debt, giving a net cash position of 142.48 million or 0.16 per share.

Cash & Cash Equivalents	342.48M
Total Debt	200.00M
Net Cash	142.48M
Net Cash Per Share	0.16
Equity (Book Value)	4.18B
Book Value Per Share	4.69
Working Capital	2.53B

Cash Flow

In the last 12 months, operating cash flow was 1.43 billion and capital expenditures -868.34 million, giving a free cash flow of 563.24 million.

Operating Cash Flow	1.43B
Capital Expenditures	-868.34M
Free Cash Flow	563.24M
FCF Per Share	0.63

Margins

Gross margin is 61.74%, with operating and profit margins of 53.13% and 35.68%.

Gross Margin	61.74%
Operating Margin	53.13%
Pretax Margin	52.91%
Profit Margin	35.68%
EBITDA Margin	54.52%
EBIT Margin	53.13%
FCF Margin	7.32%

Dividends & Yields

This stock pays an annual dividend of 0.10, which amounts to a dividend yield of 0.91%.

Dividend Per Share	0.10
Dividend Yield	0.91%
Dividend Growth (YoY)	n/a
Years of Dividend Growth	4
Payout Ratio	3.29%
Buyback Yield	n/a
Shareholder Yield	0.91%
Earnings Yield	26.49%
FCF Yield	5.43%

Fair Value

There are several formulas that can be used to estimate the intrinsic value of a stock.

Lynch Fair Value
Lynch Upside
Graham Number
Graham Upside

Stock Splits

This stock does not have any record of stock splits.

Last Split Date	n/a
Split Type	n/a
Split Ratio	n/a

Scores

The Initiates has an Altman Z-Score of 4.91 and a Piotroski F-Score of 7.

Altman Z-Score	4.91
Piotroski F-Score	7