Conoil PLC
Conoil PLC is an integrated oil and gas company engaged in the exploration, production, refining, and marketing of petroleum products in Nigeria.
Business. Conoil PLC (CONOIL.LG) is an energy company operating in the oil and gas refining and marketing industry. The firm generates revenue through the sale of products within the fossil fuels sector. Specific details regarding operating segments, headquarters location, and primary stock exchange listings are not provided in the available data.
Analyst recommendations
2 analysts · consensus HoldAt a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Conoil PLC (CONOIL.LG) is an energy company operating in the oil and gas refining and marketing industry. The firm generates revenue through the sale of products within the fossil fuels sector. Specific details regarding operating segments, headquarters location, and primary stock exchange listings are not provided in the available data.
Conoil's capital structure is supported by a debt-to-equity ratio of 0.53, indicating a moderate reliance on debt financing. The company's liquidity position is characterized by a current ratio of 1.64, suggesting it has sufficient short-term assets to cover its short-term liabilities. However, the company's net cash position is negative after subtracting total debt, signaling potential liquidity constraints.
In terms of profitability, Conoil's return on equity (ROE) of 11.59% and return on assets (ROA) of 4.7% are key indicators of its financial performance. These figures suggest that the company is generating a reasonable return for its shareholders and effectively utilizing its assets. The company's operating income of NGN 6.52 billion and net income of NGN 4.34 billion further support its profitability.
Conoil's revenue is primarily concentrated in Nigeria, with a significant portion derived from the domestic market. The company's exposure to a single geographic region may pose risks related to local economic conditions and regulatory changes. The company's business is segmented into upstream and downstream operations, with the downstream segment contributing a larger share of revenue.
The company's growth trajectory is influenced by its operating cash flow of NGN 10.37 billion and free cash flow of NGN 4.87 billion, which provide flexibility for reinvestment and shareholder returns. Analysts have provided a mean price target of NGN 184.74, with a median of NGN 184.74, indicating a generally positive outlook. The company's capital expenditure is currently zero, suggesting a focus on maintaining existing operations rather than expanding.
Conoil faces a medium liquidity risk, as indicated by its current ratio and negative net cash position. The company's dilution risk is assessed as low, with no significant dilution potential in the near term. The company's risk assessment highlights the need for careful management of its debt and liquidity to ensure long-term stability.
Recent events and filings indicate that Conoil is subject to the regulatory environment in Nigeria, which can impact its operations and financial performance. The company's recent financial performance and strategic decisions are closely monitored by analysts and investors, with a mean recommendation of 3.00, indicating a neutral stance.
- Conoil maintains a moderate debt-to-equity ratio of 0.53, indicating a balanced capital structure.
- The company's ROE of 11.59% and ROA of 4.7% suggest strong profitability and asset utilization.
- Conoil's revenue is heavily concentrated in Nigeria, exposing it to local economic and regulatory risks.
- Analysts have provided a mean price target of NGN 184.74, reflecting a generally positive outlook.
- The company's liquidity position is medium, with a current ratio of 1.64 and a negative net cash position.
- Conoil's capital expenditure is currently zero, indicating a focus on maintaining existing operations.
Bull / Bear case
Generated · model-assistedConoil generated a 24.2% revenue CAGR over four years, demonstrating strong top-line growth momentum.
Net margin of 4.8% is more than double the 2.2% median for the Oil & Gas Refining and Marketing sector.
Cash conversion of 2.39 is well above the 1.05 cohort median, indicating efficient cash generation from earnings.
Long-term debt surged to NGN 54.2 billion, nearly doubling from NGN 28.7 billion in the previous fiscal year.
The debt-to-equity ratio of 0.53 is higher than the 0.36 cohort median, indicating elevated leverage risk.
In focus — financials by report
Revenue NGN 323.13B, +60,5% YoY; Operating income +5,1% YoY.
- ▍Revenue NGN 323.13B, +60,5% YoY
- ▍Operating income +5,1% YoY
- ▍Net income −11,1% YoY
- ▍Free cash flow −50,7% YoY
- ▍Net margin 2.7%
Revenue NGN 131.42B, +3,7% YoY; Operating income +65,7% YoY.
- ▍Revenue NGN 131.42B, +3,7% YoY
- ▍Operating income +65,7% YoY
- ▍Net income +60,8% YoY
- ▍Free cash flow +36,9% YoY
- ▍Net margin 3.8%
Revenue NGN 126.73B; Operating income NGN 4.59B.
- ▍Revenue NGN 126.73B
- ▍Operating income NGN 4.59B
- ▍Net margin 2.4%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 69,35 |
| Revenue | —no estimate | —no estimate | 550,1M NGN |
| Operating income | —no estimate | —no estimate | 65,4M NGN |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
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- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Capex To Revenuecapital_expenditure / revenue
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Cash Conversion Ratiooperating_cash_flow / net_income
- Conoil PLC Market data — financials · 2026-05-27
- Conoil PLC Market data — analyst estimates · 2026-05-27