Alfalytics

Earlier today, I attended my first-ever shareholders’ Annual General Meeting right from Ifon market, while pricing fufu 11 for 1k. 😂

You're calling me yaribastard and ewedu Is that meant to make me cry😅 Una foolish oo

Atiku’s history with privatization is to unkind and unforgiving that it’s impossible to defend it. Very impossible. Beyond the fact that the entities were sold for ridiculous amount, they are all enmeshed in protracted legal hurdles to even consider them attractive for development.

I am never going to argue politics with these folks again.

On the list, the company with the best FY 2025 audited performance is Okomu Oil. The top 10 with the best performance are: 1. Okomu Oil 2. The Initiates 3. Lafarge 4. Unilever 5. Vitafoam 6. Zichis 7. Nascon 8. NAHCO 9. CAP 10. SAHCO

🏆TIP hits new high Mar 30 | 11:15 AM ₦21.7 (+9.59%) intraday Trading at session/52W high Range tight: ₦21.5–₦21.7 → steady climb Volume: 851.9K (≈-78% vs avg 3.86M) ⚠️ Breakout in play, but participation still light

NAHCO's forward P/E is 17x (trailing P/E is 23x). It is expensive. Quite expensive. And that means that the market is clearly pricing in something. The monopolisitc nature of ground handling at Nigerian airports and the recurring visibility that comes with it is the allure. A return on invested capital (ROIC) of 130% is super impressive for an aviation services company. I mean, ground handling and cargo logistics require physical infrastructure (equipment, warehouses, handling facilities), but the capital deployed is relatively modest compared to the revenue it generates. This tells you the business is inherently capital-efficient. Profit margin is 28%. ROA is 37% (even higher than MTNN's), and ROE is 71%... a very clean profitability metric that tells me there is no disconnect and no capital structure gimmicks. Debt-to-equity is virtually zero, and financial leverage is 2x. Again, the competitive moat is the duopoly market it operates in with SAHCO at Nigerian airports. Switching costs for airlines are high (you need licensed, accredited handlers, equipment, and trained staff), and the regulatory barriers to entry are high. This means that NAHCO can fairly sustain its 130% ROIC and 37% ROA. A new competitor can not just waltz in and erode those returns. Bottomline, NAHCO is a high-quality, capital-light, cash-generative business with a defensible market position. The fundamentals are elite on almost every measure... ... And the market knows this and has thus priced it at 17x levels. If you are the type of investor who's willing to pay up for quality and durability, NAHCO is structurally sound. Strict value investors may want to look elsewhere.