The Initiates Plc (NGX:TIP)

The Initiates Statistics

Total Valuation

The Initiates has a market cap or net worth of NGN 24.43 billion. The enterprise value is 23.28 billion.

Market Cap	24.43B
Enterprise Value	23.28B

Important Dates

The last earnings date was 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 5.81.

PE Ratio	5.81
Forward PE	n/a
PS Ratio	1.74
PB Ratio	3.54
P/TBV Ratio	3.55
P/FCF Ratio	22.44
P/OCF Ratio	4.68
PEG Ratio	n/a

Enterprise Valuation

The stock's EV/EBITDA ratio is 3.48, with an EV/FCF ratio of 21.39.

EV / Earnings	5.54
EV / Sales	1.66
EV / EBITDA	3.48
EV / EBIT	3.57
EV / FCF	21.39

Financial Position

The company has a current ratio of 1.70, with a Debt / Equity ratio of 0.01.

Current Ratio	1.70
Quick Ratio	1.20
Debt / Equity	0.01
Debt / EBITDA	0.02
Debt / FCF	0.09
Interest Coverage	231.05

Financial Efficiency

Return on equity (ROE) is 86.21% and return on invested capital (ROIC) is 92.75%.

Return on Equity (ROE)	86.21%
Return on Assets (ROA)	40.57%
Return on Invested Capital (ROIC)	92.75%
Return on Capital Employed (ROCE)	84.40%
Weighted Average Cost of Capital (WACC)	6.78%
Revenue Per Employee	234.45M
Profits Per Employee	70.03M
Employee Count	60
Asset Turnover	1.45
Inventory Turnover	110.44

Taxes

In the past 12 months, The Initiates has paid 2.11 billion in taxes.

Income Tax	2.11B
Effective Tax Rate	33.41%

Stock Price Statistics

The stock price has increased by +342.74% in the last 52 weeks. The beta is 0.45, so The Initiates's price volatility has been lower than the market average.

Beta (5Y)	0.45
52-Week Price Change	+342.74%
50-Day Moving Average	25.12
200-Day Moving Average	16.78
Relative Strength Index (RSI)	44.24
Average Volume (20 Days)	10,600,135

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 14.07 billion and earned 4.20 billion in profits. Earnings per share was 4.72.

Revenue	14.07B
Gross Profit	7.30B
Operating Income	6.31B
Pretax Income	6.31B
Net Income	4.20B
EBITDA	6.48B
EBIT	6.31B
Earnings Per Share (EPS)	4.72

Balance Sheet

The company has 1.25 billion in cash and 98.00 million in debt, with a net cash position of 1.15 billion or 1.29 per share.

Cash & Cash Equivalents	1.25B
Total Debt	98.00M
Net Cash	1.15B
Net Cash Per Share	1.29
Equity (Book Value)	6.90B
Book Value Per Share	7.75
Working Capital	4.24B

Cash Flow

In the last 12 months, operating cash flow was 5.22 billion and capital expenditures -4.13 billion, giving a free cash flow of 1.09 billion.

Operating Cash Flow	5.22B
Capital Expenditures	-4.13B
Depreciation & Amortization	175.40M
Net Borrowing	-252.00M
Free Cash Flow	1.09B
FCF Per Share	1.22

Margins

Gross margin is 51.89%, with operating and profit margins of 44.85% and 29.87%.

Gross Margin	51.89%
Operating Margin	44.85%
Pretax Margin	44.85%
Profit Margin	29.87%
EBITDA Margin	46.10%
EBIT Margin	44.85%
FCF Margin	7.74%

Dividends & Yields

This stock pays an annual dividend of 0.10, which amounts to a dividend yield of 0.33%.

Dividend Per Share	0.10
Dividend Yield	0.33%
Dividend Growth (YoY)	87.50%
Years of Dividend Growth	5
Payout Ratio	2.12%
Buyback Yield	n/a
Shareholder Yield	0.33%
Earnings Yield	17.20%
FCF Yield	4.46%

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 4.57 and a Piotroski F-Score of 7.

Altman Z-Score	4.57
Piotroski F-Score	7