Analysis of Paint Industry(Company Listed on the Nigeria Stock Exchange)

		Sectorial Analysis of Quoted Companies- Paint Industry
	CAPL	BERGER PAINT	DNMEYER	PORTPAINT	PREMPAINT	INDUSTRIAL AVERAGE
Revenue	N              6,987,604	N              3,082,930	N              1,340,104	N              2,798,166	N                 365,378	N                       2,914,836
Inventory Turnover	6.21	2.60	2.90	1.81	4.78	3.66
Receivable Turnover	9.82	7.88	8.22	5.70	8.50	8.02
Payable Turnover	9.74	7.37	2.56	5.55	1.97	5.44
Total Asset Turnover	2.29	0.85	0.53	1.29	1.27	1.24
No of Days Inventory	58.75	140.39	125.91	201.87	76.33	120.65
No of Days Receivable	37.18	46.32	44.42	64.02	42.95	46.98
No of Days Payables	37.49	49.53	142.61	65.81	185.25	96.14
Operating Cycle	95.93	186.72	170.33	265.88	119.29	167.63
Net Operating Cycle	58.44	137.19	27.72	200.08	(65.96)	71.49
Current Ratio	1.41	2.54	0.75	1.59	0.51	1.36
Quick Ratio	1.09	1.10	0.44	0.75	0.27	0.73
Working Capital	N                    750,123.00	N                1,259,169.00	N                  -160,970.00	N                    569,718.00	N                     -82,683.00	N                    467,071.40
Debt-to-Asset Ratio	62%	32%	74%	59%	100%	66%
Long-Term Debt to Asset Ratio	2%	10%	47%	17%	42%	24%
Debt-to-Equity Ratio	161%	48%	280%	146%	(253.83)	-                                  49.50
Financial Leverage	2.61	1.48	3.80	2.46	(252.83)	-                                  48.50
Gross Profit Margin	51%	44%	44%	47%	41%	45%
Operating Profit Margin	33%	9%	6%	11%	8%	13%
Net Profit Margin	24%	5%	-3%	5%	2%	7%
Pretax Profit Margin	35%	8%	-3%	7%	3%	10%
ROA	54%	4%	-1%	7%	3%	13%
ROE	136%	6%	-5%	17%	150%	61%
EPS	N                                 2.37	N                                 0.51	N                               -0.11	N                                 0.37	N                                 0.07	N                                 0.64
P/E	20.40	17.14	(7.38)	10.33	166.16	41.33
DPS	0.85	0.75				N                                 0.80
Dividend Payout Ratio	36%	146%				91%
P/S	4.85	0.83	20%	0.55	3.68	202%
Dividend Yield	2%	9%				5%
P/B	28.73	1.04	0.42	1.66	(1,176.19)	-                               228.87
Book Value	1.69	8.49	2.00	2.31	(0.01)	2.89
*ROA=RETURN ON ASSET	*PRICE TO BOOK VALUE
*ROE=RETURN ON EQUITY
*EPS=EARNING PER SHARE
*P/E PRICE TO EARNING			The Paint Industry listed equity performance summary for the Financial Year End 2014.  CAP Plc in term of Revenue led the pack followed by Berger Paint Plc. In terms of Return on Equity, Return on Asset, Gross profit Margin and Net Profit Margin CAP Plc performed better than the rest.  The analysis also revealed that non of the stocks under focus is trading below book value. At the same time CAP Plc is the Market leader and all orders are following. The paint industry in Nigeria is an industry that is faced with a lot of challenges. The industry has a lot of players that are on subsistence and cottage level, like a one-man, one-room enterprise, which is not making the industry to grow as expected. These set of people tend to glut the market with cheap and sub standard product. The fact that the purchasing power of the public is low tend to make this kind of market thrive. But with product differentiation and technological edge the above listed companies had carved a niche for them self.
*DIVIDEND PER SHARE
*PRICE TO SALES