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Nigerian (NSE) Market Analysis & Valuation
UpdatedJul 19, 2025
DataAggregated Company Financials
Companies131
- 7D5.5%
- 3M26.4%
- 1Y32.3%
- YTD26.6%
The Financials and Materials sectors drove a 6.1% in the market over the last week. The market is up 31% over the last 12 months. As for the next few years, earnings are expected to grow by 18% per annum.
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 |
|---|---|---|---|---|---|---|
| Sat, 19 Jul 2025 | ₦59.6t | ₦33.1t | ₦7.4t | 11.7x | 8.1x | 1.8x |
| Mon, 16 Jun 2025 | ₦51.1t | ₦33.0t | ₦7.2t | 9.3x | 7.1x | 1.5x |
| Wed, 14 May 2025 | ₦48.5t | ₦33.2t | ₦7.4t | 8.3x | 6.6x | 1.5x |
| Fri, 11 Apr 2025 | ₦46.5t | ₦30.8t | ₦6.9t | 8.4x | 6.7x | 1.5x |
| Sun, 09 Mar 2025 | ₦46.4t | ₦29.9t | ₦6.8t | 8.9x | 6.8x | 1.6x |
| Tue, 04 Feb 2025 | ₦43.2t | ₦27.7t | ₦7.3t | 9.2x | 5.9x | 1.6x |
| Thu, 02 Jan 2025 | ₦43.2t | ₦29.5t | ₦7.0t | 8.6x | 6.2x | 1.5x |
| Sat, 30 Nov 2024 | ₦40.9t | ₦29.7t | ₦7.0t | 7.6x | 5.8x | 1.4x |
| Mon, 28 Oct 2024 | ₦108.7t | ₦27.1t | ₦6.4t | 7.6x | 17x | 4x |
| Wed, 25 Sep 2024 | ₦110.3t | ₦25.7t | ₦6.1t | 7.8x | 18x | 4.3x |
| Fri, 23 Aug 2024 | ₦112.2t | ₦24.7t | ₦5.7t | 6.6x | 19.7x | 4.5x |
| Sun, 21 Jul 2024 | ₦39.5t | ₦22.7t | ₦5.7t | 7.3x | 6.9x | 1.7x |
| Tue, 18 Jun 2024 | ₦38.9t | ₦22.4t | ₦5.7t | 7.4x | 6.9x | 1.7x |
| Thu, 16 May 2024 | ₦38.9t | ₦21.9t | ₦5.3t | 7.1x | 7.4x | 1.8x |
| Sat, 13 Apr 2024 | ₦41.4t | ₦20.1t | ₦4.2t | 7.8x | 9.9x | 2.1x |
| Mon, 11 Mar 2024 | ₦40.8t | ₦19.5t | ₦3.6t | 7.8x | 11.4x | 2.1x |
| Wed, 07 Feb 2024 | ₦45.0t | ₦21.3t | ₦3.9t | 9.2x | 11.5x | 2.1x |
| Fri, 05 Jan 2024 | ₦32.7t | ₦20.1t | ₦3.6t | 9.1x | 9x | 1.6x |
| Sun, 03 Dec 2023 | ₦29.8t | ₦19.8t | ₦3.6t | 8.2x | 8.3x | 1.5x |
| Tue, 31 Oct 2023 | ₦29.4t | ₦19.3t | ₦3.6t | 7.8x | 8.3x | 1.5x |
| Thu, 28 Sep 2023 | ₦29.4t | ₦18.5t | ₦3.4t | 8.4x | 8.8x | 1.6x |
| Sat, 26 Aug 2023 | ₦28.9t | ₦17.3t | ₦2.5t | 8x | 11.4x | 1.7x |
| Mon, 24 Jul 2023 | ₦29.3t | ₦17.1t | ₦2.6t | 8.6x | 11.1x | 1.7x |
| Wed, 21 Jun 2023 | ₦26.2t | ₦16.8t | ₦2.5t | 7.7x | 10.5x | 1.6x |
| Fri, 19 May 2023 | ₦23.0t | ₦16.4t | ₦2.5t | 7x | 9.2x | 1.4x |
| Sun, 16 Apr 2023 | ₦22.9t | ₦16.0t | ₦2.5t | 6.7x | 9x | 1.4x |
| Tue, 14 Mar 2023 | ₦23.6t | ₦15.8t | ₦2.6t | 7x | 9.3x | 1.5x |
| Thu, 09 Feb 2023 | ₦22.4t | ₦15.6t | ₦2.5t | 7x | 9.1x | 1.4x |
| Sat, 07 Jan 2023 | ₦21.2t | ₦15.1t | ₦2.4t | 7x | 8.8x | 1.4x |
| Mon, 05 Dec 2022 | ₦19.8t | ₦15.0t | ₦2.4t | 6.7x | 8.3x | 1.3x |
| Wed, 02 Nov 2022 | ₦18.2t | ₦14.9t | ₦2.4t | 7x | 7.7x | 1.2x |
| Fri, 30 Sep 2022 | ₦18.2t | ₦14.4t | ₦2.4t | 6.9x | 7.6x | 1.3x |
| Sun, 28 Aug 2022 | ₦18.4t | ₦14.2t | ₦2.4t | 7.6x | 7.8x | 1.3x |
| Tue, 26 Jul 2022 | ₦20.0t | ₦13.5t | ₦2.3t | 8.4x | 8.7x | 1.5x |
Price to Earnings Ratio
8.7x
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 8.0x which is lower than its 3-year average PE of 9.1x.
Past Earnings Growth
- The earnings for Nigerian listed companies have grown 47% per year over the last three years.
- Revenues for these companies have grown 35% 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 | 5.47% | |
| Materials | 18.74% | |
| Financials | 4.73% | |
| Real Estate | 0.85% | |
| Consumer Discretionary | 0.63% | |
| Consumer Staples | 0.45% | |
| Utilities | 0.12% | |
| Industrials | -0.56% | |
| Tech | -0.89% | |
| Energy | -1.42% | |
| Healthcare | -6.17% | |
| Telecom | -9.28% | |
Sector PE
- Investors favour the Consumer Staples sector the most for future growth, which is trading close to its 3-year average PE ratio of 53.2x.
- Analysts are expecting annual earnings growth of 21.1%, which is lower than the prior year's growth of 73.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 28% over the next 5 years.
- This is better than its past earnings growth rate of 7.8% per year.
- In contrast, the Financials sector is expected to see its earnings grow by 13% 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 | ₦495.00 | 16.5% +₦1.2t | -24.6% | PE14x | Materials | |
| BUACEMENT BUA Cement | ₦123.40 | 31.3% +₦995.6b | -13.8% | PE30.5x | Materials | |
| STANBIC Stanbic IBTC Holdings | ₦99.50 | 18.4% +₦245.7b | 86.0% | PE6.1x | Financials | |
| NESTLE Nestlé Nigeria | ₦1.80k | 20.0% +₦237.8b | 95.7% | PE172.6x | Consumer Staples | |
| FIRSTHOLDCO First HoldCo | ₦33.95 | 16.5% +₦201.0b | 54.0% | PB0.5x | Financials |
