Financials Fidelity Bank Plc

Equities

FIDELITYBK

NGFIDELITYB5

Banks

End-of-day quote Nigerian S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
9.4 NGN +4.44% Intraday chart for Fidelity Bank Plc +5.62% -13.36%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 59,373 72,986 73,855 125,987 347,332 330,880
Enterprise Value (EV) 1 59,373 72,986 73,855 125,987 347,332 330,880
P/E ratio 2.02 x 2.6 x 1.93 x 2.7 x 2.76 x -
Yield 9.76% 8.73% 13.7% 9.2% - 5.64%
Capitalization / Revenue 535,488 x 567,051 x 574,239 x 700,303 x 908,458 x -
EV / Revenue 535,488 x 567,051 x 574,239 x 700,303 x 908,458 x -
EV / EBITDA - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Price to Book 0.25 x 0.27 x 0.25 x 0.4 x 0.8 x -
Nbr of stocks (in thousands) 28,962,586 28,962,586 28,962,586 28,962,586 32,012,211 35,200,000
Reference price 2 2.050 2.520 2.550 4.350 10.85 9.400
Announcement Date 1/30/20 1/29/21 2/23/22 1/30/23 2/2/24 -
1NGN in Million2NGN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net sales 110,877 128,711 128,613 179,904 382,332 -
EBITDA - - - - - -
EBIT 30,244 45,943 46,149 59,120 - -
Operating Margin 27.28% 35.69% 35.88% 32.86% - -
Earnings before Tax (EBT) 32,377 30,207 40,634 53,677 122,062 -
Net income 29,463 28,033 38,123 46,724 125,821 -
Net margin 26.57% 21.78% 29.64% 25.97% 32.91% -
EPS 1.017 0.9700 1.320 1.613 3.932 -
Free Cash Flow - - - - - -
FCF margin - - - - - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 1 0.2000 0.2200 0.3500 0.4000 - 0.5300
Announcement Date 1/30/20 1/29/21 2/23/22 1/30/23 2/2/24 -
1NGN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - 194,804 - 196,855
Net Cash position 1 20,235 52,338 120,569 - 43,960 -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - - - - - -
ROE (net income / shareholders' equity) 11.6% 13.3% 10.5% 12.5% 15.6% 26.5%
ROA (Net income/ Total Assets) 1.48% 1.48% 1.09% 1.18% 1.29% 1.95%
Assets 1 1,549,578 1,916,981 2,436,237 3,023,882 3,634,977 5,112,002
Book Value Per Share 2 6.710 8.080 9.440 10.30 10.90 13.70
Cash Flow per Share 2 8.530 8.970 11.30 7.570 10.40 11.40
Capex 1 2,039 5,605 3,366 4,352 6,769 9,474
Capex / Sales 2.1% 4.99% 3.01% 3.58% 3.88% 2.97%
Announcement Date 3/28/19 3/23/20 3/31/21 3/31/22 4/29/23 4/15/24
1NGN in Million2NGN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
9.4 NGN
Average target price
11.46 NGN
Spread / Average Target
+21.91%
Consensus

Annual profits - Rate of surprise

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