The Initiates Plc (NGX:TIP)

The Initiates Statistics

Total Valuation

The Initiates has a market cap or net worth of NGN 17.71 billion. The enterprise value is 15.27 billion.

Market Cap	17.71B
Enterprise Value	15.27B

Important Dates

The next estimated earnings date is Wednesday, April 29, 2026.

Earnings Date	Apr 29, 2026
Ex-Dividend Date	Apr 8, 2026

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)	+0.09%
Owned by Insiders (%)	n/a
Owned by Institutions (%)	n/a
Float	n/a

Valuation Ratios

The trailing PE ratio is 5.23.

PE Ratio	5.23
Forward PE	n/a
PS Ratio	1.51
PB Ratio	3.08
P/TBV Ratio	3.08
P/FCF Ratio	5.96
P/OCF Ratio	3.70
PEG Ratio	n/a

Enterprise Valuation

The stock's EV/EBITDA ratio is 2.79, with an EV/FCF ratio of 5.13.

EV / Earnings	4.51
EV / Sales	1.31
EV / EBITDA	2.79
EV / EBIT	2.87
EV / FCF	5.13

Financial Position

The company has a current ratio of 1.43, with a Debt / Equity ratio of 0.02.

Current Ratio	1.43
Quick Ratio	1.38
Debt / Equity	0.02
Debt / EBITDA	0.02
Debt / FCF	0.03
Interest Coverage	149.47

Financial Efficiency

Return on equity (ROE) is 82.36% and return on invested capital (ROIC) is 93.06%.

Return on Equity (ROE)	82.36%
Return on Assets (ROA)	37.95%
Return on Invested Capital (ROIC)	93.06%
Return on Capital Employed (ROCE)	80.80%
Weighted Average Cost of Capital (WACC)	5.10%
Revenue Per Employee	194.98M
Profits Per Employee	56.47M
Employee Count	60
Asset Turnover	1.39
Inventory Turnover	173.22

Taxes

In the past 12 months, The Initiates has paid 1.68 billion in taxes.

Income Tax	1.68B
Effective Tax Rate	33.19%

Stock Price Statistics

The stock price has increased by +323.40% in the last 52 weeks. The beta is 0.14, so The Initiates's price volatility has been lower than the market average.

Beta (5Y)	0.14
52-Week Price Change	+323.40%
50-Day Moving Average	19.23
200-Day Moving Average	14.24
Relative Strength Index (RSI)	54.03
Average Volume (20 Days)	3,877,766

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	6.11B
Operating Income	5.12B
Pretax Income	5.07B
Net Income	3.39B
EBITDA	5.26B
EBIT	5.12B
Earnings Per Share (EPS)	3.81

Balance Sheet

The company has 2.54 billion in cash and 98.00 million in debt, with a net cash position of 2.44 billion or 2.75 per share.

Cash & Cash Equivalents	2.54B
Total Debt	98.00M
Net Cash	2.44B
Net Cash Per Share	2.75
Equity (Book Value)	5.75B
Book Value Per Share	6.46
Working Capital	2.34B

Cash Flow

In the last 12 months, operating cash flow was 4.78 billion and capital expenditures -1.81 billion, giving a free cash flow of 2.97 billion.

Operating Cash Flow	4.78B
Capital Expenditures	-1.81B
Depreciation & Amortization	146.38M
Net Borrowing	-430.81M
Free Cash Flow	2.97B
FCF Per Share	3.34

Margins

Gross margin is 52.25%, with operating and profit margins of 43.73% and 28.96%.

Gross Margin	52.25%
Operating Margin	43.73%
Pretax Margin	43.35%
Profit Margin	28.96%
EBITDA Margin	44.98%
EBIT Margin	43.73%
FCF Margin	25.42%

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)	87.50%
Years of Dividend Growth	5
Payout Ratio	2.63%
Buyback Yield	n/a
Shareholder Yield	0.51%
Earnings Yield	19.13%
FCF Yield	16.79%

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 4.04 and a Piotroski F-Score of 6.

Altman Z-Score	4.04
Piotroski F-Score	6