The Initiates Plc (NGX:TIP)

The Initiates Statistics

Total Valuation

The Initiates has a market cap or net worth of NGN 17.76 billion. The enterprise value is 15.31 billion.

Market Cap	17.76B
Enterprise Value	15.31B

Important Dates

The last earnings date was Wednesday, January 28, 2026.

Earnings Date	Jan 28, 2026
Ex-Dividend Date	n/a

Share Statistics

The Initiates has 889.98 million shares outstanding. The number of shares has decreased by -0.13% in one year.

Current Share Class	889.98M
Shares Outstanding	889.98M
Shares Change (YoY)	-0.13%
Shares Change (QoQ)	+0.09%
Owned by Insiders (%)	n/a
Owned by Institutions (%)	n/a
Float	n/a

Valuation Ratios

The trailing PE ratio is 5.24.

PE Ratio	5.24
Forward PE	n/a
PS Ratio	1.52
PB Ratio	3.39
P/TBV Ratio	3.39
P/FCF Ratio	5.92
P/OCF Ratio	3.70
PEG Ratio	n/a

Enterprise Valuation

The stock's EV/EBITDA ratio is 2.98, with an EV/FCF ratio of 5.11.

EV / Earnings	4.52
EV / Sales	1.31
EV / EBITDA	2.98
EV / EBIT	3.06
EV / FCF	5.11

Financial Position

The company has a current ratio of 1.48, with a Debt / Equity ratio of 0.02.

Current Ratio	1.48
Quick Ratio	1.25
Debt / Equity	0.02
Debt / EBITDA	0.02
Debt / FCF	0.03
Interest Coverage	146.10

Financial Efficiency

Return on equity (ROE) is 87.78% and return on invested capital (ROIC) is 99.22%.

Return on Equity (ROE)	87.78%
Return on Assets (ROA)	36.79%
Return on Invested Capital (ROIC)	99.22%
Return on Capital Employed (ROCE)	87.73%
Weighted Average Cost of Capital (WACC)	5.40%
Revenue Per Employee	194.98M
Profits Per Employee	56.44M
Employee Count	60
Asset Turnover	1.38
Inventory Turnover	116.95

Taxes

In the past 12 months, The Initiates has paid 1.61 billion in taxes.

Income Tax	1.61B
Effective Tax Rate	32.26%

Stock Price Statistics

The stock price has increased by +493.75% in the last 52 weeks. The beta is 0.19, so The Initiates's price volatility has been lower than the market average.

Beta (5Y)	0.19
52-Week Price Change	+493.75%
50-Day Moving Average	14.54
200-Day Moving Average	11.63
Relative Strength Index (RSI)	66.81
Average Volume (20 Days)	7,248,445

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 11.70 billion and earned 3.39 billion in profits. Earnings per share was 3.81.

Revenue	11.70B
Gross Profit	5.97B
Operating Income	5.00B
Pretax Income	5.00B
Net Income	3.39B
EBITDA	5.14B
EBIT	5.00B
Earnings Per Share (EPS)	3.81

Balance Sheet

The company has 2.55 billion in cash and 98.00 million in debt, with a net cash position of 2.45 billion or 2.75 per share.

Cash & Cash Equivalents	2.55B
Total Debt	98.00M
Net Cash	2.45B
Net Cash Per Share	2.75
Equity (Book Value)	5.24B
Book Value Per Share	5.89
Working Capital	2.96B

Cash Flow

In the last 12 months, operating cash flow was 4.80 billion and capital expenditures -1.81 billion, giving a free cash flow of 3.00 billion.

Operating Cash Flow	4.80B
Capital Expenditures	-1.81B
Free Cash Flow	3.00B
FCF Per Share	3.37

Margins

Gross margin is 51.04%, with operating and profit margins of 42.74% and 28.95%.

Gross Margin	51.04%
Operating Margin	42.74%
Pretax Margin	42.73%
Profit Margin	28.95%
EBITDA Margin	43.94%
EBIT Margin	42.74%
FCF Margin	25.63%

Dividends & Yields

This stock pays an annual dividend of 0.10, which amounts to a dividend yield of 0.51%.

Dividend Per Share	0.10
Dividend Yield	0.51%
Dividend Growth (YoY)	n/a
Years of Dividend Growth	5
Payout Ratio	2.63%
Buyback Yield	0.13%
Shareholder Yield	0.64%
Earnings Yield	19.07%
FCF Yield	16.88%

Fair Value

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

Lynch Fair Value	n/a
Lynch Upside	n/a
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 3.9 and a Piotroski F-Score of 7.

Altman Z-Score	3.9
Piotroski F-Score	7