Nigerian Undervalued over 20% based on DCF

Zenith Bank

Market Cap: ₦3.1t

Provides banking and other financial services to corporate and individual customers in Nigeria, rest of Africa, and internationally.

Guaranty Trust Holding

Market Cap: ₦2.5t

Operates as a financial holding company for Guaranty Trust Bank Limited that provides commercial banking services in Nigeria, Ghana, Gambia, Sierra Leone, Liberia, Cote D'Ivoire, Kenya, Uganda, Rwanda, Tanzania, and the United Kingdom.

United Bank for Africa

Market Cap: ₦2.0t

Primarily provides corporate, commercial, and retail banking services in Nigeria, rest of Africa, and internationally.

TotalEnergies Marketing Nigeria

Market Cap: ₦239.4b

TotalEnergies Marketing Nigeria Plc markets and distributes refined petroleum products in Nigeria.

PZ Cussons Nigeria

Market Cap: ₦170.7b

Manufactures, distributes, and sells various consumer products and home appliances to wholesalers in Nigeria and internationally.

Vitafoam Nigeria

Market Cap: ₦98.8b

Engages in the manufacture, marketing, and distribution of flexible and rigid foam, fibre products, and textile linens in Nigeria and other West African countries.

MRS Oil Nigeria

Market Cap: ₦51.3b

MRS Oil Nigeria Plc markets and distributes refined petroleum products in Nigeria.

Academy Press

Market Cap: ₦8.3b

Provides printing services in Nigeria.

John Holt

Market Cap: ₦2.8b

John Holt Plc, together with its subsidiaries, assembles, sells, leases, and services power equipment in Nigeria.