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Nigerian (NSE) Food Industry Analysis

UpdatedMar 14, 2025
DataAggregated Company Financials
Companies12
  • 7D0.4%
  • 3M12.9%
  • 1Y16.6%
  • YTD7.0%

The Food is pretty flat in the last 7 days, but Dangote Sugar Refinery has stood out, gaining 5.6%. As for the the longer term, the industry is up 17% over the past 12 months. As for the next few years, earnings are expected to grow by 43% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 14 Mar 2025₦9.7t₦3.3t₦257.9b13x37.5x3x
Sun, 09 Feb 2025₦9.0t₦2.6t₦446.8b9.6x20.2x3.5x
Tue, 07 Jan 2025₦9.0t₦5.2t₦351.1b11.8x25.6x1.7x
Thu, 05 Dec 2024₦8.4t₦5.2t₦351.1b9.1x24x1.6x
Sat, 02 Nov 2024₦8.4t₦5.1t₦338.6b8.9x24.8x1.6x
Mon, 30 Sep 2024₦8.4t₦4.5t₦269.7b13.8x31.2x1.9x
Wed, 28 Aug 2024₦8.4t₦4.5t₦270.9b10x30.9x1.9x
Fri, 26 Jul 2024₦7.9t₦4.0t₦189.0b10.9x41.9x2x
Sun, 23 Jun 2024₦7.8t₦4.0t₦200.8b17.6x39.1x2x
Tue, 21 May 2024₦7.7t₦3.7t₦206.3b9.5x37.4x2.1x
Thu, 18 Apr 2024₦8.2t₦3.7t₦132.7b11.4x62x2.2x
Sat, 16 Mar 2024₦8.4t₦3.7t₦131.6b11x64x2.3x
Mon, 12 Feb 2024₦7.1t₦3.7t₦207.4b16.2x34.4x1.9x
Wed, 10 Jan 2024₦5.2t₦3.4t₦203.6b12.9x25.7x1.5x
Fri, 08 Dec 2023₦5.1t₦3.4t₦203.6b11.4x24.8x1.5x
Sun, 05 Nov 2023₦5.2t₦3.4t₦207.2b11.6x25.1x1.5x
Tue, 03 Oct 2023₦5.1t₦3.2t₦215.2b16x23.7x1.6x
Thu, 31 Aug 2023₦4.7t₦3.2t₦202.2b15.2x23.4x1.5x
Sat, 29 Jul 2023₦4.5t₦3.3t₦263.6b14.2x17.1x1.4x
Mon, 26 Jun 2023₦4.4t₦3.4t₦266.0b12.6x16.6x1.3x
Wed, 24 May 2023₦3.7t₦3.4t₦266.0b11x14x1.1x
Fri, 21 Apr 2023₦3.5t₦3.3t₦243.7b11.1x14.2x1.1x
Sun, 19 Mar 2023₦3.4t₦3.3t₦247.5b10.3x13.9x1.1x
Tue, 14 Feb 2023₦3.0t₦3.2t₦219.1b10.4x13.5x0.9x
Thu, 12 Jan 2023₦2.9t₦3.0t₦216.7b10.6x13.5x1x
Sat, 10 Dec 2022₦2.6t₦3.0t₦213.9b11x12.2x0.9x
Mon, 07 Nov 2022₦2.7t₦3.0t₦212.6b10.6x12.6x0.9x
Wed, 05 Oct 2022₦2.8t₦2.8t₦218.7b8.8x12.7x1x
Fri, 02 Sep 2022₦2.9t₦2.9t₦221.8b9.5x13x1x
Sun, 31 Jul 2022₦2.7t₦2.7t₦212.0b11x12.8x1x
Tue, 28 Jun 2022₦2.9t₦2.5t₦207.9b15.5x14.1x1.2x
Thu, 26 May 2022₦3.0t₦2.5t₦213.3b14.6x14.2x1.2x
Sat, 23 Apr 2022₦2.9t₦2.4t₦198.0b13.4x14.7x1.2x
Mon, 21 Mar 2022₦2.9t₦2.4t₦204.4b12x14.4x1.2x
Price to Earnings Ratio

14.4x


Total Market Cap: ₦2.9tTotal Earnings: ₦204.4bTotal Revenue: ₦2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Food Industry Price to Earnings3Y Average 24.3x202320242025
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 37.5x which is higher than its 3-year average PE of 24.3x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 8.1% per year over the last three years.
  • Revenues for these companies have grown 11% 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 Market0.19%
Consumer Staples1.14%
Food0.43%
Agricultural Products0.75%
Packaged Foods and Meats0.37%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 29.7x.
    • Analysts are expecting annual earnings growth of 55.7%, which is lower than the prior year's growth of 159.7% per year.
  • Investors are most pessimistic about the Agricultural Products industry, which is trading close to its 3-year average of 9.5x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 56% over the next 5 years.
  • However this is lower than its past earnings growth rate of 160% per year.
  • In contrast, the Agricultural Products industry is expected to see its earnings grow by 34% 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
LIVESTOCK Livestock Feeds₦10.2034.2%
+₦7.8b		558.1%PE17.5x
OKOMUOIL Okomu Oil Palm₦545.200.4%
+₦2.1b		124.4%PE15.2x
ELLAHLAKES Ellah Lakes₦3.358.8%
+₦1.0b		5.0%PS12560.6x
FTNCOCOA FTN Cocoa Processors₦1.8514.2%
+₦897.0m		14.2%PS11.3x
NASCON Nascon Allied Industries₦41.500.2%
+₦270.2m		-25.7%PE7.2x
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Latest News

DANGSUGAR

₦35.05

Dangote Sugar Refinery

7D

-5.3%

1Y

-42.8%

NASCON

₦41.50

Nascon Allied Industries

7D

0.2%

1Y

-25.7%

CADBURY

₦23.00

Cadbury Nigeria

7D

-8.0%

1Y

25.7%

LIVESTOCK

₦10.20

Livestock Feeds

7D

34.2%

1Y

558.1%

ELLAHLAKES

₦3.35

Ellah Lakes

7D

8.8%

1Y

5.0%

OKOMUOIL

₦545.20

Okomu Oil Palm

7D

0.4%

1Y

124.4%

HONYFLOUR

₦12.49

Honeywell Flour Mills

7D

-7.1%

1Y

234.0%

MCNICHOLS

₦1.64

McNichols

7D

5.8%

1Y

27.1%

UACN

₦35.05

UAC of Nigeria

7D

0.1%

1Y

178.2%

FTNCOCOA

₦1.85

FTN Cocoa Processors

7D

14.2%

1Y

14.2%