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Nigerian (NSE) Food Industry Analysis

UpdatedDec 04, 2023
DataAggregated Company Financials
Companies13
  • 7D-2.3%
  • 3M4.1%
  • 1Y179.1%
  • YTD155.2%

Over the last 7 days, the Food industry has dropped 2.3%, driven by a pullback from BUA Foods of 1.9%. On the other hand Nestlé Nigeria is actually up 9.5%. Over the past 12 months, the industry was up 179%. Earnings are forecast to grow by 36% annually.

Industry Valuation and Performance

Has the Nigerian Food Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 04 Dec 2023₦5.1t₦3.4t₦203.6b11.5x24.9x1.5x
Wed, 01 Nov 2023₦5.2t₦3.4t₦200.1b12.2x25.9x1.5x
Fri, 29 Sep 2023₦5.0t₦3.2t₦215.2b16.1x23.3x1.6x
Sun, 27 Aug 2023₦4.3t₦3.0t₦209.3b13.7x20.6x1.5x
Tue, 25 Jul 2023₦4.5t₦3.4t₦266.0b13x17x1.3x
Thu, 22 Jun 2023₦4.4t₦3.4t₦266.0b12.6x16.6x1.3x
Sat, 20 May 2023₦3.7t₦3.4t₦266.0b11x14x1.1x
Mon, 17 Apr 2023₦3.5t₦3.3t₦246.7b11.1x14x1.1x
Wed, 15 Mar 2023₦3.4t₦3.3t₦247.5b10.3x13.9x1.1x
Fri, 10 Feb 2023₦3.0t₦3.2t₦219.1b10.4x13.5x0.9x
Sun, 08 Jan 2023₦2.9t₦3.0t₦216.7b10.6x13.5x1x
Tue, 06 Dec 2022₦2.6t₦3.0t₦213.9b11.3x12.1x0.9x
Thu, 03 Nov 2022₦2.7t₦3.0t₦215.8b10.6x12.4x0.9x
Sat, 01 Oct 2022₦2.8t₦2.8t₦218.7b8.8x12.7x1x
Mon, 29 Aug 2022₦2.8t₦2.9t₦221.8b9.5x12.7x1x
Wed, 27 Jul 2022₦2.8t₦2.6t₦206.8b13.8x13.8x1.1x
Fri, 24 Jun 2022₦2.9t₦2.5t₦207.9b16.1x13.8x1.2x
Sun, 22 May 2022₦3.1t₦2.5t₦210.8b16x14.6x1.2x
Tue, 19 Apr 2022₦2.9t₦2.4t₦198.0b13.8x14.6x1.2x
Thu, 17 Mar 2022₦3.0t₦2.4t₦204.4b12x14.5x1.2x
Sat, 12 Feb 2022₦2.9t₦2.4t₦212.2b11.4x13.9x1.2x
Mon, 10 Jan 2022₦1.9t₦1.9t₦121.8b11.1x15.7x1x
Wed, 08 Dec 2021₦1.8t₦1.9t₦121.8b10.9x14.5x0.9x
Fri, 05 Nov 2021₦1.8t₦1.9t₦117.8b11x15.1x0.9x
Sun, 03 Oct 2021₦1.8t₦1.8t₦126.6b10.6x14.5x1x
Tue, 31 Aug 2021₦1.8t₦1.8t₦127.4b10.9x13.8x1x
Wed, 07 Jul 2021₦1.9t₦1.8t₦127.4b9.3x14.6x1x
Sat, 10 Apr 2021₦1.7t₦1.6t₦122.2b10.5x13.7x1x
Fri, 01 Jan 2021₦1.8t₦1.5t₦109.4b9.4x16.1x1.2x
Price to Earnings Ratio

16x


Total Market Cap: ₦1.7tTotal Earnings: ₦106.7bTotal Revenue: ₦1.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Food Industry Price to Earnings3Y Average 15.3x202120222023
Current Industry PE
  • Investors are optimistic on the Nigerian Food industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 24.9x which is higher than its 3-year average PE of 15.3x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 24% per year over the last three years.
  • Revenues for these companies have grown 33% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Nigerian Consumer Staples industry?

NG Market-0.41%
Consumer Staples-1.91%
Food-2.25%
Agricultural Products0.0071%
Packaged Foods and Meats-2.45%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 16.7x.
    • Analysts are expecting annual earnings growth of 36.9%, which is lower than the prior year's growth of 60.6% per year.
  • Investors are most pessimistic about the Agricultural Products industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.1x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 37% over the next 5 years.
  • However this is lower than its past earnings growth rate of 61% per year.
  • In contrast, the Agricultural Products industry is expected to see its earnings grow by 14% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NESTLE Nestlé Nigeria₦1.15k9.5%
+₦79.3b		19.3%PS1.8x
NNFM Northern Nigeria Flour Mills₦36.0024.8%
+₦1.3b		485.4%PE34.7x
LIVESTOCK Livestock Feeds₦1.860.5%
+₦30.0m		69.1%PS0.3x
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