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Nigerian (NSE) Market Analysis & Valuation
UpdatedFeb 16, 2025
DataAggregated Company Financials
Companies127
- 7D2.6%
- 3M9.5%
- 1Y0.7%
- YTD3.3%
The market is up 2.6% over the last week, with the Materials sector leading the way, up 13%. In contrast, the Consumer Staples sector is lagging, dropping 5.4%. The market has been flat overall in the last year. Looking forward, earnings are forecast to grow by 20% 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 |
|---|---|---|---|---|---|---|
| Sun, 16 Feb 2025 | ₦45.5t | ₦27.8t | ₦7.1t | 9.5x | 6.4x | 1.6x |
| Tue, 14 Jan 2025 | ₦43.5t | ₦26.3t | ₦6.9t | 8.8x | 6.3x | 1.7x |
| Thu, 12 Dec 2024 | ₦41.2t | ₦29.6t | ₦7.0t | 7.4x | 5.9x | 1.4x |
| Sat, 09 Nov 2024 | ₦40.6t | ₦30.2t | ₦6.8t | 7.6x | 6x | 1.3x |
| Mon, 07 Oct 2024 | ₦110.8t | ₦25.9t | ₦6.0t | 7.6x | 18.5x | 4.3x |
| Wed, 04 Sep 2024 | ₦117.8t | ₦25.1t | ₦5.8t | 7.1x | 20.1x | 4.7x |
| Fri, 02 Aug 2024 | ₦38.1t | ₦24.6t | ₦5.7t | 6.9x | 6.7x | 1.5x |
| Sun, 30 Jun 2024 | ₦39.2t | ₦22.4t | ₦5.7t | 7x | 6.9x | 1.7x |
| Tue, 28 May 2024 | ₦38.2t | ₦21.6t | ₦5.4t | 6.7x | 7x | 1.8x |
| Thu, 25 Apr 2024 | ₦39.7t | ₦20.2t | ₦4.2t | 7.5x | 9.5x | 2x |
| Sat, 23 Mar 2024 | ₦42.3t | ₦19.2t | ₦3.5t | 8.3x | 11.9x | 2.2x |
| Mon, 19 Feb 2024 | ₦45.9t | ₦21.3t | ₦3.9t | 8.8x | 11.6x | 2.2x |
| Wed, 17 Jan 2024 | ₦38.0t | ₦20.0t | ₦3.6t | 10.1x | 10.5x | 1.9x |
| Fri, 15 Dec 2023 | ₦30.4t | ₦19.9t | ₦3.6t | 8.5x | 8.5x | 1.5x |
| Sun, 12 Nov 2023 | ₦29.8t | ₦19.9t | ₦3.6t | 7.7x | 8.3x | 1.5x |
| Tue, 10 Oct 2023 | ₦28.9t | ₦18.5t | ₦3.3t | 8.4x | 8.6x | 1.6x |
| Thu, 07 Sep 2023 | ₦30.4t | ₦17.5t | ₦2.6t | 8.3x | 11.9x | 1.7x |
| Sat, 05 Aug 2023 | ₦28.3t | ₦17.2t | ₦2.6t | 7.8x | 10.9x | 1.6x |
| Mon, 03 Jul 2023 | ₦27.1t | ₦16.9t | ₦2.5t | 8.1x | 10.8x | 1.6x |
| Wed, 31 May 2023 | ₦23.6t | ₦16.4t | ₦2.5t | 7.5x | 9.4x | 1.4x |
| Fri, 28 Apr 2023 | ₦22.8t | ₦16.1t | ₦2.5t | 7.1x | 9.2x | 1.4x |
| Sun, 26 Mar 2023 | ₦23.2t | ₦15.8t | ₦2.6t | 6.9x | 9.1x | 1.5x |
| Tue, 21 Feb 2023 | ₦22.5t | ₦15.6t | ₦2.5t | 7.2x | 9.2x | 1.4x |
| Thu, 19 Jan 2023 | ₦21.8t | ₦15.1t | ₦2.4t | 7.5x | 9x | 1.4x |
| Sat, 17 Dec 2022 | ₦20.5t | ₦15.0t | ₦2.4t | 6.9x | 8.6x | 1.4x |
| Mon, 14 Nov 2022 | ₦18.4t | ₦15.0t | ₦2.4t | 6.5x | 7.7x | 1.2x |
| Wed, 12 Oct 2022 | ₦18.4t | ₦14.3t | ₦2.4t | 6.8x | 7.7x | 1.3x |
| Fri, 09 Sep 2022 | ₦18.5t | ₦14.3t | ₦2.4t | 7.4x | 7.7x | 1.3x |
| Sun, 07 Aug 2022 | ₦19.3t | ₦14.0t | ₦2.3t | 7.3x | 8.2x | 1.4x |
| Tue, 05 Jul 2022 | ₦20.7t | ₦13.4t | ₦2.3t | 8.9x | 8.9x | 1.5x |
| Thu, 02 Jun 2022 | ₦21.2t | ₦13.4t | ₦2.3t | 8.5x | 9.1x | 1.6x |
| Sat, 30 Apr 2022 | ₦20.9t | ₦12.8t | ₦2.1t | 8.5x | 9.8x | 1.6x |
| Mon, 28 Mar 2022 | ₦19.9t | ₦12.6t | ₦2.1t | 8.5x | 9.4x | 1.6x |
| Wed, 23 Feb 2022 | ₦20.1t | ₦12.3t | ₦2.1t | 8.8x | 9.7x | 1.6x |
Price to Earnings Ratio
9.7x
Current Market PE
- Investors are pessimistic on the Nigerian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 6.4x which is lower than its 3-year average PE of 9.5x.
Past Earnings Growth
- The earnings for Nigerian listed companies have grown 51% per year over the last three years.
- Revenues for these companies have grown 31% 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 | 2.61% | |
| Real Estate | 33.52% | |
| Materials | 13.18% | |
| Consumer Discretionary | 9.96% | |
| Tech | 3.19% | |
| Utilities | 2.88% | |
| Industrials | 1.47% | |
| Financials | 0.40% | |
| Information Technology | 0% | 0 |
| Financials | 0% | 0 |
| Health Care | 0% | 0 |
| Industrials | 0% | 0 |
| Healthcare | -1.04% | |
| Energy | -5.17% | |
| Consumer Staples | -5.45% | |
| Telecom | -6.64% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 40.1x.
- 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 54% over the next 5 years.
- However this is lower than its past earnings growth rate of 88% per year.
- In contrast, the Financials sector is expected to see its earnings grow by 6.3% 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 | |
|---|---|---|---|---|---|---|
| DANGCEM Dangote Cement | ₦480.00 | 21.8% +₦1.4t | -37.1% | PE17.8x | Materials | |
| MTNN MTN Nigeria Communications | ₦264.20 | 3.6% +₦192.9b | -3.9% | PS1.8x | Telecom | |
| TRANSCOHOT Transcorp Hotels | ₦126.10 | 10.0% +₦117.3b | 28.8% | PE104.4x | Consumer Discretionary | |
| TRANSPOWER Transcorp Power | ₦364.90 | 4.3% +₦113.3b | n/a | PE34.2x | Utilities | |
| PRESCO Presco | ₦785.00 | 12.1% +₦84.8b | 221.7% | PE8x | Consumer Staples |
