Nigerian (NSE) Market Analysis & Valuation
UpdatedMay 02, 2024
DataAggregated Company Financials
Companies133
- 7D-0.01%
- 3M-6.5%
- 1Y119.5%
- YTD45.0%
Over the last 7 days, the market has remained flat, although notably the Consumer Discretionary sector gained 9.3% in that time. As for the longer term, the market has risen 119% in the past 12 months. Looking forward, earnings are forecast to grow by 21% annually.
Trending IndustriesOil and Gas
Market Valuation and Performance
Has the Nigerian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 02 May 2024 | ₦39.1t | ₦20.9t | ₦4.5t | 6.8x | 8.7x | 1.9x |
| Sat, 30 Mar 2024 | ₦42.3t | ₦19.7t | ₦3.9t | 8.4x | 10.9x | 2.2x |
| Mon, 26 Feb 2024 | ₦44.0t | ₦21.3t | ₦3.9t | 8.3x | 11.3x | 2.1x |
| Wed, 24 Jan 2024 | ₦42.0t | ₦20.0t | ₦3.6t | 9.8x | 11.6x | 2.1x |
| Fri, 22 Dec 2023 | ₦31.0t | ₦19.9t | ₦3.6t | 8.4x | 8.7x | 1.6x |
| Sun, 19 Nov 2023 | ₦29.9t | ₦20.0t | ₦3.6t | 7.9x | 8.3x | 1.5x |
| Tue, 17 Oct 2023 | ₦29.2t | ₦18.5t | ₦3.3t | 8.1x | 8.7x | 1.6x |
| Thu, 14 Sep 2023 | ₦29.9t | ₦18.3t | ₦3.2t | 8.2x | 9.3x | 1.6x |
| Sat, 12 Aug 2023 | ₦28.3t | ₦17.3t | ₦2.6t | 7.7x | 11x | 1.6x |
| Mon, 10 Jul 2023 | ₦28.2t | ₦16.9t | ₦2.5t | 9x | 11.2x | 1.7x |
| Wed, 07 Jun 2023 | ₦25.0t | ₦16.4t | ₦2.4t | 7.4x | 10.2x | 1.5x |
| Fri, 05 May 2023 | ₦22.8t | ₦16.4t | ₦2.5t | 6.7x | 9.1x | 1.4x |
| Sun, 02 Apr 2023 | ₦23.1t | ₦15.8t | ₦2.5t | 6.9x | 9.2x | 1.5x |
| Tue, 28 Feb 2023 | ₦23.1t | ₦15.6t | ₦2.5t | 7.2x | 9.4x | 1.5x |
| Thu, 26 Jan 2023 | ₦21.8t | ₦15.1t | ₦2.4t | 7.7x | 9x | 1.4x |
| Sat, 24 Dec 2022 | ₦20.6t | ₦15.1t | ₦2.4t | 6.9x | 8.5x | 1.4x |
| Mon, 21 Nov 2022 | ₦18.7t | ₦15.0t | ₦2.4t | 6.4x | 7.8x | 1.2x |
| Wed, 19 Oct 2022 | ₦18.4t | ₦14.3t | ₦2.4t | 7x | 7.7x | 1.3x |
| Fri, 16 Sep 2022 | ₦18.4t | ₦14.3t | ₦2.4t | 7.4x | 7.7x | 1.3x |
| Sun, 14 Aug 2022 | ₦18.8t | ₦14.0t | ₦2.3t | 8x | 8x | 1.3x |
| Tue, 12 Jul 2022 | ₦20.5t | ₦13.5t | ₦2.3t | 8.7x | 8.9x | 1.5x |
| Thu, 09 Jun 2022 | ₦21.3t | ₦13.4t | ₦2.3t | 8.7x | 9.2x | 1.6x |
| Sat, 07 May 2022 | ₦21.5t | ₦13.2t | ₦2.2t | 8.5x | 9.7x | 1.6x |
| Mon, 04 Apr 2022 | ₦19.8t | ₦12.6t | ₦2.1t | 8.1x | 9.4x | 1.6x |
| Wed, 02 Mar 2022 | ₦20.2t | ₦12.3t | ₦2.1t | 9.6x | 9.8x | 1.6x |
| Fri, 28 Jan 2022 | ₦19.7t | ₦12.0t | ₦2.0t | 7.9x | 9.9x | 1.6x |
| Sun, 26 Dec 2021 | ₦17.9t | ₦11.6t | ₦1.9t | 7.3x | 9.4x | 1.5x |
| Tue, 23 Nov 2021 | ₦18.5t | ₦11.6t | ₦1.8t | 7.2x | 10.1x | 1.6x |
| Thu, 21 Oct 2021 | ₦17.9t | ₦11.1t | ₦1.8t | 7.4x | 10x | 1.6x |
| Sat, 18 Sep 2021 | ₦17.0t | ₦11.0t | ₦1.8t | 7.3x | 9.5x | 1.5x |
| Mon, 16 Aug 2021 | ₦17.3t | ₦11.7t | ₦1.8t | 7.4x | 9.5x | 1.5x |
| Mon, 31 May 2021 | ₦16.2t | ₦10.9t | ₦1.7t | 8x | 9.6x | 1.5x |
Price to Earnings Ratio
9.9x
Current Market PE
- Investors are relatively neutral on the Nigerian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 9.4x.
Past Earnings Growth
- The earnings for Nigerian listed companies have grown 38% per year over the last three years.
- Revenues for these companies have grown 24% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Nigerian Market?
| NG Market | -0.013% | |
| Consumer Discretionary | 9.26% | |
| Industrials | 9.12% | |
| Energy | 2.85% | |
| Telecom | 1.62% | |
| Real Estate | 1.14% | |
| Financials | 0.92% | |
| Utilities | 0.069% | |
| Healthcare | 0% | |
| Materials | -0.31% | |
| Consumer Staples | -1.58% | |
| Tech | -3.62% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 33.9x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 49% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Financials sector is expected to see its earnings decline by 4.9% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| MTNN MTN Nigeria Communications | ₦210.00 | 4.2% +₦176.1b | -8.1% | PS1.8x | Telecom | |
| FBNH FBN Holdings | ₦23.90 | 21.0% +₦149.0b | 117.3% | PB0.5x | Financials | |
| TRANSCOHOT Transcorp Hotels | ₦96.50 | 9.7% +₦87.8b | 1,249.7% | PE91.5x | Consumer Discretionary | |
| STANBIC Stanbic IBTC Holdings | ₦49.50 | 10.0% +₦58.3b | 33.8% | PE4.2x | Financials | |
| UBA United Bank for Africa | ₦23.90 | 5.3% +₦41.0b | 202.5% | PB0.4x | Financials |
