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Encap Kenya Limited retweeted
.@EncapKenya's FY2027 Estimates for Safaricom:
- Net Income attributable to owners: KES 128.72B ( +34.6%)
- EPS: KES 3.20 ( +34%)
- Interim dividend: KES 1.15
- Total DPS: KES 2.55 (80% payout ratio)
#InvestWithEncap
@NSE_Investors @mytradesignals @EACinvestor @watesh @andrewnjiraini @alykhansatchu @kahome_steve @WillisOwiti @coldtusker @S_Mukoma @JuliusOnStocks @LevelQue @GEORGEMORGAN_01 @JohnHiuhu @StocksMarket_ke @ChiboliS @davidwagikuyu @mwesigwa18 @mcubedto @bosikomoja @ResidentSiaya @VickWealthHQ @madkiqofficial @koech235 @Vickyjr @cleuveschahasi @FarmingCareer @Macr0_Nerd @wrightXcapital @InvestorsClave @PesaWall @tradingroomke @HerbertKinyua1 @BoardLotSultan @alichalala @FunOnXx @Shimbirta2 @mystocksafrica
Safaricom PLC HY 2027 Earnings Analysis:
Overall Performance:
Safaricom PLC delivered strong HY 2027 results, with profitability growing much faster than revenue. Profit Attributable to owners (Net Income) rose 35.9% YoY to KES 58.15 billion up from KES 42.78 billion in HY 2026. Service revenue increased 13.1% YoY to KES 226.06 billion supported by sustained performance in Kenya and continued improvement in Ethiopia.
Group's profitability improved with EBITDA expanding 27.5% YoY to KES 129.18 billion and operating Profit (EBIT) expanding 39.8% YoY to KES 91.14 billion. EBITDA margin expanded to 55.28% from 49.48% while EBIT margin expanded to 39% from 31.85%.
Earnings per share increased 35.5% YoY to KES 1.45 per share from KES 1.07 per share the previous year.
Safaricom Kenya Performance:
Kenya remains the profit engine.
- Service revenue: KES 216B (+11.3%)
- EBITDA: KES 128.9B (+13.3%). EBITDA Margin 57.7%
- EBIT: KES 101.8B (+13.7%) - first time Kenya crossed KES 100B EBIT in a half year
- Net income: KES 66.3B (+13.8%)
M-PESA hit a milestone: KES 100.1B (+13.6%), the first half-year above 100B and contributing 46% of Kenya service revenue. Connectivity revenue increased 7.7% YoY to KES 103.38 billion especially supported by mobile data growth of 12.2% to KES 45.24 billion and voice growth of 6.2% to KES 42.2 billion. Fixed services and IoT also grew solidly.
Safaricom Ethiopia Performance:
- Service revenue: KES 10.6B (+71.6%)
- EBITDA loss narrowed 96.5% to just KES 0.4B (near break-even)
- EBIT loss down 53.4% to KES 11.4B
- Net loss down 43.2% to KES 8.8B
- Ethiopia contributed 17% of group service revenue growth
- 15.4 million 3-month active customers (+38%)
Management expects EBITDA break-even in Ethiopia by March 2027 (end of FY' 27). Capex has already dropped sharply as the network build matures.
Cost management & Operating Leverage:
Other operating expenses fell 11.1%, while revenue grew 14%. Direct costs rose roughly in line with revenue. This drove the big margin expansion (EBITDA margin to 55.28% and EBIT margin to 39%).
Balance Sheet strengthened:
Group's total assets increased 12.8% YoY to KES 573.8 billion. Shareholders equity grew 4.8% YoY to KES 210.74 billion. Total borrowings surged 18.8% to KES 139.1 billion. Group's net debt increased 37.3% YoY to KES 193.4 billion.
Net debt/EBITDA remains comfortable (0.75x group, 0.50x Kenya). Higher borrowings reflect Ethiopia funding (now 20% debt-to-equity there) and the maturity profile has improved with more long-term debt.
Liquidity position:
The company has a strong cash position as closing cash balance stood at KES 40.5B (+34%). Cash generated from operations increased 31.4% YoY to KES 121.3 billion. Net cash from operating activities surged 42% YoY to KES 91.9B.
FY' 27 guidance:
Safaricom maintained its full-year FY2027 guidance.
Group EBIT: KES 180–187B
Kenya EBIT: KES 195–199B
Ethiopia EBIT loss: KES 12–15B
Group capex: KES 64–70B
Our Valuation View:
We raised our fair value estimate for Safaricom to a valuation range of KES 48 - 54.40 per share (equivalent to 15x - 17x projected FY2027 EPS of KES 3.20 per share). We expect the stock to cross KES 50 mark for the first time ever after Safaricom Ethiopia breakeven in FY 2027. In our view, the double digit profitability growth outpacing revenue growth, solid margin expansion, strong cash generation, Safaricom Ethiopia EBITDA breakeven, highest ROE on NSE, high dividend payout supports a premium to historical multiples.
Kenya continues delivering double-digit growth with expanding margins while Ethiopia’s sharp loss reduction is starting to meaningfully lift the group. Profit growth significantly outpaced revenue growth due to operating leverage and the Ethiopia swing. The balance sheet is solid, cash generation is strong and the path to further earnings improvement looks clear as Ethiopia approaches EBITDA breakeven.
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
We raised our fair value estimate for Safaricom to a valuation range of KES 48 - 54.40 per share (equivalent to 15x - 17x projected FY2027 adjusted EPS of KES 3.20 per share). We expect the stock to cross the KES 50 mark for the first time ever after Safaricom Ethiopia breakeven in FY 2027. In our view, the double digit profitability growth outpacing revenue growth, solid margin expansion, strong cash generation, Safaricom Ethiopia EBITDA breakeven, highest ROE on NSE, high dividend payout supports a premium to historical multiples.
#InvestWithEncap @EncapKenya
@NSE_Investors @mytradesignals @EACinvestor @watesh @andrewnjiraini @alykhansatchu @kahome_steve @WillisOwiti @coldtusker @S_Mukoma @JuliusOnStocks @LevelQue @GEORGEMORGAN_01 @JohnHiuhu @StocksMarket_ke @ChiboliS @davidwagikuyu @mwesigwa18 @mcubedto @bosikomoja @ResidentSiaya @VickWealthHQ @madkiqofficial @koech235 @Vickyjr @cleuveschahasi @FarmingCareer @Macr0_Nerd @wrightXcapital @InvestorsClave @PesaWall @tradingroomke @HerbertKinyua1 @BoardLotSultan @alichalala @FunOnXx @Shimbirta2 @mystocksafrica
Safaricom PLC HY 2027 Earnings Analysis:
Overall Performance:
Safaricom PLC delivered strong HY 2027 results, with profitability growing much faster than revenue. Profit Attributable to owners (Net Income) rose 35.9% YoY to KES 58.15 billion up from KES 42.78 billion in HY 2026. Service revenue increased 13.1% YoY to KES 226.06 billion supported by sustained performance in Kenya and continued improvement in Ethiopia.
Group's profitability improved with EBITDA expanding 27.5% YoY to KES 129.18 billion and operating Profit (EBIT) expanding 39.8% YoY to KES 91.14 billion. EBITDA margin expanded to 55.28% from 49.48% while EBIT margin expanded to 39% from 31.85%.
Earnings per share increased 35.5% YoY to KES 1.45 per share from KES 1.07 per share the previous year.
Safaricom Kenya Performance:
Kenya remains the profit engine.
- Service revenue: KES 216B (+11.3%)
- EBITDA: KES 128.9B (+13.3%). EBITDA Margin 57.7%
- EBIT: KES 101.8B (+13.7%) - first time Kenya crossed KES 100B EBIT in a half year
- Net income: KES 66.3B (+13.8%)
M-PESA hit a milestone: KES 100.1B (+13.6%), the first half-year above 100B and contributing 46% of Kenya service revenue. Connectivity revenue increased 7.7% YoY to KES 103.38 billion especially supported by mobile data growth of 12.2% to KES 45.24 billion and voice growth of 6.2% to KES 42.2 billion. Fixed services and IoT also grew solidly.
Safaricom Ethiopia Performance:
- Service revenue: KES 10.6B (+71.6%)
- EBITDA loss narrowed 96.5% to just KES 0.4B (near break-even)
- EBIT loss down 53.4% to KES 11.4B
- Net loss down 43.2% to KES 8.8B
- Ethiopia contributed 17% of group service revenue growth
- 15.4 million 3-month active customers (+38%)
Management expects EBITDA break-even in Ethiopia by March 2027 (end of FY' 27). Capex has already dropped sharply as the network build matures.
Cost management & Operating Leverage:
Other operating expenses fell 11.1%, while revenue grew 14%. Direct costs rose roughly in line with revenue. This drove the big margin expansion (EBITDA margin to 55.28% and EBIT margin to 39%).
Balance Sheet strengthened:
Group's total assets increased 12.8% YoY to KES 573.8 billion. Shareholders equity grew 4.8% YoY to KES 210.74 billion. Total borrowings surged 18.8% to KES 139.1 billion. Group's net debt increased 37.3% YoY to KES 193.4 billion.
Net debt/EBITDA remains comfortable (0.75x group, 0.50x Kenya). Higher borrowings reflect Ethiopia funding (now 20% debt-to-equity there) and the maturity profile has improved with more long-term debt.
Liquidity position:
The company has a strong cash position as closing cash balance stood at KES 40.5B (+34%). Cash generated from operations increased 31.4% YoY to KES 121.3 billion. Net cash from operating activities surged 42% YoY to KES 91.9B.
FY' 27 guidance:
Safaricom maintained its full-year FY2027 guidance.
Group EBIT: KES 180–187B
Kenya EBIT: KES 195–199B
Ethiopia EBIT loss: KES 12–15B
Group capex: KES 64–70B
Our Valuation View:
We raised our fair value estimate for Safaricom to a valuation range of KES 48 - 54.40 per share (equivalent to 15x - 17x projected FY2027 EPS of KES 3.20 per share). We expect the stock to cross KES 50 mark for the first time ever after Safaricom Ethiopia breakeven in FY 2027. In our view, the double digit profitability growth outpacing revenue growth, solid margin expansion, strong cash generation, Safaricom Ethiopia EBITDA breakeven, highest ROE on NSE, high dividend payout supports a premium to historical multiples.
Kenya continues delivering double-digit growth with expanding margins while Ethiopia’s sharp loss reduction is starting to meaningfully lift the group. Profit growth significantly outpaced revenue growth due to operating leverage and the Ethiopia swing. The balance sheet is solid, cash generation is strong and the path to further earnings improvement looks clear as Ethiopia approaches EBITDA breakeven.
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
The main risks remain Ethiopia execution (regulatory risks, FX risks, unhealthy competition) and the broader Kenyan macro environment but the operational trajectory is clearly positive.
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
Safaricom PLC HY 2027 Earnings Analysis:
Overall Performance:
Safaricom PLC delivered strong HY 2027 results, with profitability growing much faster than revenue. Profit Attributable to owners (Net Income) rose 35.9% YoY to KES 58.15 billion up from KES 42.78 billion in HY 2026. Service revenue increased 13.1% YoY to KES 226.06 billion supported by sustained performance in Kenya and continued improvement in Ethiopia.
Group's profitability improved with EBITDA expanding 27.5% YoY to KES 129.18 billion and operating Profit (EBIT) expanding 39.8% YoY to KES 91.14 billion. EBITDA margin expanded to 55.28% from 49.48% while EBIT margin expanded to 39% from 31.85%.
Earnings per share increased 35.5% YoY to KES 1.45 per share from KES 1.07 per share the previous year.
Safaricom Kenya Performance:
Kenya remains the profit engine.
- Service revenue: KES 216B (+11.3%)
- EBITDA: KES 128.9B (+13.3%). EBITDA Margin 57.7%
- EBIT: KES 101.8B (+13.7%) - first time Kenya crossed KES 100B EBIT in a half year
- Net income: KES 66.3B (+13.8%)
M-PESA hit a milestone: KES 100.1B (+13.6%), the first half-year above 100B and contributing 46% of Kenya service revenue. Connectivity revenue increased 7.7% YoY to KES 103.38 billion especially supported by mobile data growth of 12.2% to KES 45.24 billion and voice growth of 6.2% to KES 42.2 billion. Fixed services and IoT also grew solidly.
Safaricom Ethiopia Performance:
- Service revenue: KES 10.6B (+71.6%)
- EBITDA loss narrowed 96.5% to just KES 0.4B (near break-even)
- EBIT loss down 53.4% to KES 11.4B
- Net loss down 43.2% to KES 8.8B
- Ethiopia contributed 17% of group service revenue growth
- 15.4 million 3-month active customers (+38%)
Management expects EBITDA break-even in Ethiopia by March 2027 (end of FY' 27). Capex has already dropped sharply as the network build matures.
Cost management & Operating Leverage:
Other operating expenses fell 11.1%, while revenue grew 14%. Direct costs rose roughly in line with revenue. This drove the big margin expansion (EBITDA margin to 55.28% and EBIT margin to 39%).
Balance Sheet strengthened:
Group's total assets increased 12.8% YoY to KES 573.8 billion. Shareholders equity grew 4.8% YoY to KES 210.74 billion. Total borrowings surged 18.8% to KES 139.1 billion. Group's net debt increased 37.3% YoY to KES 193.4 billion.
Net debt/EBITDA remains comfortable (0.75x group, 0.50x Kenya). Higher borrowings reflect Ethiopia funding (now 20% debt-to-equity there) and the maturity profile has improved with more long-term debt.
Liquidity position:
The company has a strong cash position as closing cash balance stood at KES 40.5B (+34%). Cash generated from operations increased 31.4% YoY to KES 121.3 billion. Net cash from operating activities surged 42% YoY to KES 91.9B.
FY' 27 guidance:
Safaricom maintained its full-year FY2027 guidance.
Group EBIT: KES 180–187B
Kenya EBIT: KES 195–199B
Ethiopia EBIT loss: KES 12–15B
Group capex: KES 64–70B
Our Valuation View:
We raised our fair value estimate for Safaricom to a valuation range of KES 48 - 54.40 per share (equivalent to 15x - 17x projected FY2027 EPS of KES 3.20 per share). We expect the stock to cross KES 50 mark for the first time ever after Safaricom Ethiopia breakeven in FY 2027. In our view, the double digit profitability growth outpacing revenue growth, solid margin expansion, strong cash generation, Safaricom Ethiopia EBITDA breakeven, highest ROE on NSE, high dividend payout supports a premium to historical multiples.
Kenya continues delivering double-digit growth with expanding margins while Ethiopia’s sharp loss reduction is starting to meaningfully lift the group. Profit growth significantly outpaced revenue growth due to operating leverage and the Ethiopia swing. The balance sheet is solid, cash generation is strong and the path to further earnings improvement looks clear as Ethiopia approaches EBITDA breakeven.
#InvestWithEncap @EncapKenya
Plenty of analysts have posted Safaricom's HY2027 results today but none have given their target for the stock.
I will be posting my valuation shortly 🤭
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
Plenty of analysts have posted Safaricom's HY2027 results today but none have given their target for the stock.
I will be posting my valuation shortly 🤭
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
Carbacid Investments FY 2026 Earnings Analysis:
Overall Performance:
Carbacid delivered solid profit growth in FY 2026 even though revenue was flat. The Group's revenue reached KES 2.11 billion from KES 2.10 billion the previous year. Profit After Tax rose 12.2% to KES 1.13 billion driven mainly by a sharp increase in equity investment revaluation gains rather than stronger core operations. The gross margin remained stable at 64%.
Finance costs stood at KES 68.4 million and are expected to fall as borrowings reduced.
Shareholders Returns:
Carbacid enhanced shareholders' value with EPS increasing 12.2% to KES 4.42 per share. The board declared a final dividend of KES 2 per share representing a dividend payout ratio of 45.2% down from 50.8% last year.
Balance Sheet Strength:
Total assets grew 7.3% to KES 7.16 billion. Shareholders’ Equity rose 12% to KES 5.76 billion. Borrowings fell by 23.6% from KES 500.6 million to KES 382.3 million - a clear positive. Net Working Capital jumped 50.1% to KES 1.75 billion reflecting a clear improvement in the group's financial position.
Liquidity improved:
The group has a strong cash position with a closing cash balance more than doubling to KES 255.3 million (up +115%) and sharp improvement in liquidity with net working capital jumping 50% to KES 1.75 billion.
Operating cash flow declined despite reported higher profits. However, investing cash outflow dropped significantly supporting the substantial increase in closing cash balance.
Our Valuation View:
We have raised our fair value estimate for Carbacid to a valuation range of KES 44.20 - 47.45. The share price rose significantly on expectations of a dividend increase to around KES 2.25 but the board left dividends unchanged at KES 2.
The business has reported consistent profitability growth for six consecutive years, a strong balance sheet (low leverage), high ROE, solid gross margin (64%), and a consistent dividend which supports a premium to pure historical multiples.
However, the stock could drop below 30 if the high ROE is not sustained and there is no dividend growth especially given the drop in the payout ratio to 45.2% from 50.8%.
#InvestaWithEncap @EncapKenya
Encap Kenya Limited retweeted
I expect StanChart to drop toward the KES 250 - 280 range after weaker FY2026 earnings and potential dividend cut.
#InvestWithEncap
Encap Kenya Limited retweeted
StanChart closed the week at KES 304.75 after dropping 3.9% over the past month.
A break down and close below KES 300 will push it toward the KES 250 - 280 range.
Or could we get sub 250 soon? @NSE_Investors
Join Encap's private investors community with over 400 members for just KES 3,000.
#InvestWithEncap
Encap Kenya Limited retweeted
DTB closed the week at KES 179.25 after dropping 4.9% over the past month.
Will the stock drop below KES 170 in November ahead of Q3 2026 results?
For tailored investment advice, contact me on WhatsApp: +254711850143
#InvestWithEncap @EncapKenya
KCB ended the week at KES 86 after dropping 7% over the past month.
Will the stock drop below KES 80 in November ahead of Q3 2026 results?
For personalized investment advice, contact me on WhatsApp: +254711850143
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
KCB ended the week at KES 86 after dropping 7% over the past month.
Will the stock drop below KES 80 in November ahead of Q3 2026 results?
For personalized investment advice, contact me on WhatsApp: +254711850143
#InvestWithEncap @EncapKenya
Equity closed the week at KES 95 after dropping 9.5% over the past month.
Will the stock drop below KES 90 in November before Q3 2026 results?
For personalized investment advice, contact me on WhatsApp: +254711850143
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
Equity closed the week at KES 95 after dropping 9.5% over the past month.
Will the stock drop below KES 90 in November before Q3 2026 results?
For personalized investment advice, contact me on WhatsApp: +254711850143
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
Join our investors' community with over 400 members for just KES 3,000.
Take advantage of a 50% discount.
We track both local and global markets for you so that you don't have to.
For personalized investment advice Contact me on WhatsApp: +254711850143.
#InvestWithEncap
Encap Kenya Limited retweeted
Special offer: 50% off.
We track both local and global markets for you so that you don't have to.
Become part of our investors’ community with over 400 members.
Join us today for just KES 3,000.
For tailored investment advice, contact me on WhatsApp: +254711850143
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
NSE shares reached a new all time high of KES 33 today.
We maintain a buy and hold recommendation with a target of KES 45.
For personalized investment advice, reach out to us today on WhatsApp: +254182079047
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
DTB fell to KES 180.25 today.
We anticipate it will drop to KES 170 soon.
Consider accumulating DTB in the KES 165 - 170 zone.
Join our investors community for just KES 4,500.
For tailored investment advice, contact us on WhatsApp: +254182079047
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
We expect a DIP on NSE driven by sustained foreign net selling from October through December.
We will identify the "bottom" and share stock recommendations with our investors.
Join our private investors' community group for KES 4,500 only.
For personalized investment advice, reach out today on WhatsApp: +254182079047
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
I&M closed at KES 84.25 today having dipped to KES 83.
Did you sell half of your I&M shares at around 90 and locked in profits?
We shared a sell signal with members in our investors community group.
Join us today for KES 4,500 only.
For personalized investment advice, reach out today on WhatsApp: +254182079047
#InvestWithEncap @EncapKenya
Encap Kenya Limited retweeted
Are you accumulating Safaricom shares at KES 34 ahead of H1 2027 results on 5th November?
Join our investors community for just KES 4,500 to receive buy and sell signals.
For personalized investment advice, contact us on WhatsApp: +254182079047
#InvestWithEncap @EncapKenya
I&M closed at KES 91.50 today. Do you see the stock hitting KES 100?
#InvestWithEncap
I&M shares hit a new all time high of KES 92 today.
We recommend selling half of your I&M shares at around KES 90 and let the rest to ride to KES 95.
Join our Encap investors community of 400+ serious investors for KES 4,500 only.
For personalized investment advice, contact us today on WhatsApp: +254182079047
#InvestWithEncap @EncapKenya
