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OCH — Olympia Capital Holdings Limited

Graham's number is √(22.5 × EPS × BVPS): a P/E ceiling of 15 times a P/B ceiling of 1.5, applied to one year's earnings and book value. The Graham number primer works through it. It is a computation, not a recommendation.

Tests: Graham's criteria for industrial companies. Olympia Capital manufactures and trades building products — adhesives, aluminium, floor tiles and chemicals — through subsidiaries in Kenya and southern Africa, and lets space at Avon Business Park in Nairobi. It sells goods and holds working capital, so Graham's industrial tests apply: sales for size, and the current ratio and long-term debt against working capital for strength. Long-term debt is the non-current borrowings the group breaks out, not the whole non-current block. Per-share figures rest on 40,000,000 ordinary shares, the count implied by share capital of 200,000k at the NSE par value of Shs 5.00 and consistent with the printed earnings per share. Two-fifths of the group's net assets belong to minority shareholders in the subsidiaries — 609,829k of 1,722,653k at 28 Feb 2026 — so book value per share here is the parent's share only. The year ends on the last day of February. Olympia's summary statements carry no board approval, signature or publication date, and the files carry no creation timestamp, so no results day can be established from a company document. The FY2026 column is therefore priced at the market on 25 Sep 2026, the day this profile was recorded, rather than at a results day, and its discount is not comparable with the results-day discounts shown elsewhere. FY2025 carries no price, since no record was being made then, and each year's figures are dated to its own year end.

year to 28 Feb 2026

Showing FY2026

√(22.5 × 0.06 × 27.82) = 6.13

The Graham number for FY2026, from that year's EPS and BVPS. Tap a figure below for its source and date.

Discount to Graham number: −31.8% at the record-date price of 8.08. Positive means the price was below the Graham number; negative means above.

The figures

Per share (KES)

Earnings (EPS)
0.06

basic as printed (2025: 0.25); profit attributable to the owners of the parent 2,290k of a group profit of 10,447k, the rest 8,157k to non-controlling interests. Computed over 40,000,000 shares this is 0.057. Revenue fell 6% while operating expenses rose 13%, taking operating profit down to 30,967k from 45,852k · basic · Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of comprehensive income · 28 Feb 2026

Book value (BVPS)
27.82

excludes non-controlling interests of 609,829k; share capital 200,000k, share premium 255,985k, revaluation reserve 523,755k, translation reserve of −28,533k and retained earnings 161,617k · attributable · computed: equity attributable to the owners of the parent 1,112,824k ÷ 40,000,000 shares, Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of financial position and statement of changes in equity · 28 Feb 2026

Dividend (DPS)
0.00

no dividend to the company's own shareholders appears in the statement of changes in equity; the 15,600k of dividends shown there was paid to non-controlling interests in subsidiaries (2025: 5,200k) · Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of changes in equity · 28 Feb 2026

Price on record date
8.08

NSE daily price list VWAP on 25 Sep 2026, the day this profile was recorded. Olympia's summary statements carry no board approval, signature or publication date, and the files carry no creation timestamp, so no results day can be established from a company document. This is therefore not a results-day price of the kind used elsewhere on the site but the market price on the date of record, set against the latest audited figures; the discount below is not comparable with discounts computed at other companies' results days · record date · NSE daily price list 2026-09-25, p.1 · 25 Sept 2026

Size and balance sheet (KES m)

Revenue
428.8

revenue, down from 457,175k; cost of sales 266,030k left a gross profit of 162,721k, and other operating income was 111,953k · Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of comprehensive income · 28 Feb 2026

Current assets
334.8

inventories 140,400k, trade and other receivables 127,339k, bank and cash balances 49,470k, amounts due from related companies 11,620k and other financial assets 5,971k · Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of financial position · 28 Feb 2026

Current liabilities
105.3

trade and other payables 37,960k, dividend payable 23,377k, current borrowings 18,456k, tax payable 18,184k and amounts due to directors 7,328k · Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of financial position · 28 Feb 2026

Long-term debt
83.5

non-current borrowings as broken out; the rest of the 122,186k non-current block is deferred tax liabilities of 38,348k and 330k due to related parties · Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of financial position · 28 Feb 2026

KES per US$
129.62

CBK daily exchange rates (mean) · 25 Sept 2026

Computed

EPS, three-year average
Not compiled
P/E on three-year EPS
Not compiled
P/B
0.29

computed: price ÷ BVPS · 28 Feb 2026

Dividend yield
0.0%

computed: DPS ÷ price · 28 Feb 2026

Current ratio
3.18

computed: current assets ÷ current liabilities · 28 Feb 2026

Price ÷ Graham number
1.32×

computed: price ÷ Graham number · 28 Feb 2026

Discount to Graham number
−31.8%

computed: (Graham number − price) ÷ Graham number · 28 Feb 2026

Graham's tests

  1. Adequate size

    Revenue of at least US$100m

    Not met
  2. Financial strength

    Current ratio of at least 2; long-term debt no more than working capital

    Met
  3. Earnings stability

    Positive EPS in each of the past 10 years

    No result: data not compiled
  4. Dividend record

    A dividend paid in each of the past 20 years

    Not met
  5. Earnings growth

    EPS up at least one-third over 10 years, on three-year averages

    No result: data not compiled
  6. Moderate P/E

    Price no more than 15 × three-year average EPS

    No result: data not compiled
  7. Moderate P/B

    Price no more than 1.5 × BVPS, or P/E × P/B no more than 22.5

    Met

Sources and notes

  • Earnings (EPS): basic · Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of comprehensive income · 28 Feb 2026 (basic as printed (2025: 0.25); profit attributable to the owners of the parent 2,290k of a group profit of 10,447k, the rest 8,157k to non-controlling interests. Computed over 40,000,000 shares this is 0.057. Revenue fell 6% while operating expenses rose 13%, taking operating profit down to 30,967k from 45,852k)
  • Book value (BVPS): attributable · computed: equity attributable to the owners of the parent 1,112,824k ÷ 40,000,000 shares, Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of financial position and statement of changes in equity · 28 Feb 2026 (excludes non-controlling interests of 609,829k; share capital 200,000k, share premium 255,985k, revaluation reserve 523,755k, translation reserve of −28,533k and retained earnings 161,617k)
  • Dividend (DPS): Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of changes in equity · 28 Feb 2026 (no dividend to the company's own shareholders appears in the statement of changes in equity; the 15,600k of dividends shown there was paid to non-controlling interests in subsidiaries (2025: 5,200k))
  • Price on record date: record date · NSE daily price list 2026-09-25, p.1 · 25 Sept 2026 (NSE daily price list VWAP on 25 Sep 2026, the day this profile was recorded. Olympia's summary statements carry no board approval, signature or publication date, and the files carry no creation timestamp, so no results day can be established from a company document. This is therefore not a results-day price of the kind used elsewhere on the site but the market price on the date of record, set against the latest audited figures; the discount below is not comparable with discounts computed at other companies' results days)
  • Revenue: Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of comprehensive income · 28 Feb 2026 (revenue, down from 457,175k; cost of sales 266,030k left a gross profit of 162,721k, and other operating income was 111,953k)
  • Current assets: Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of financial position · 28 Feb 2026 (inventories 140,400k, trade and other receivables 127,339k, bank and cash balances 49,470k, amounts due from related companies 11,620k and other financial assets 5,971k)
  • Current liabilities: Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of financial position · 28 Feb 2026 (trade and other payables 37,960k, dividend payable 23,377k, current borrowings 18,456k, tax payable 18,184k and amounts due to directors 7,328k)
  • Long-term debt: Summary audited consolidated financial statements for the year ended 28 February 2026, summary consolidated statement of financial position · 28 Feb 2026 (non-current borrowings as broken out; the rest of the 122,186k non-current block is deferred tax liabilities of 38,348k and 330k due to related parties)
  • KES per US$: CBK daily exchange rates (mean) · 25 Sept 2026

Disclaimer: This profile is published for educational purposes only and does not constitute financial advice. It presents reported company data and arithmetic derived from it — not a recommendation to buy, hold or sell. Investing in securities involves risk, including the possible loss of principal. Readers should conduct their own research and consult with a qualified financial advisor before making investment decisions.

Profile compiled 2026-09-25 from Olympia Capital Holdings summary audited consolidated financial statements for the years ended 28 Feb 2026 and 28 Feb 2025 (ochl.co.ke), NSE daily price list of 25 Sep 2026 (nse.co.ke) and CBK daily exchange rates (centralbank.go.ke); primary sources only. The statements carry no release date, so the FY2026 price is the market price on the date of record rather than a results-day price.