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Nigerian (NSE) Food Industry Analysis

UpdatedAug 16, 2025
DataAggregated Company Financials
Companies13
  • 7D0.9%
  • 3M46.9%
  • 1Y74.3%
  • YTD60.9%

The Food industry has been flat over the last week, but Dangote Sugar Refinery has lost 6.0%. The past year has been better, since the industry has gained 74% in that time. Looking forward, earnings are forecast to grow by 56% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 17 Aug 2025₦14.6t₦4.0t₦570.5b14.5x25.6x3.6x
Tue, 15 Jul 2025₦11.7t₦3.7t₦376.9b15.1x31.1x3.1x
Thu, 12 Jun 2025₦10.9t₦3.7t₦376.9b12.8x29x2.9x
Sat, 10 May 2025₦9.9t₦3.7t₦372.4b11.4x26.6x2.7x
Mon, 07 Apr 2025₦9.6t₦3.3t₦248.6b11.4x38.5x2.9x
Wed, 05 Mar 2025₦9.2t₦2.6t₦446.5b12.4x20.6x3.6x
Fri, 31 Jan 2025₦8.8t₦2.2t₦323.2b9.5x27.3x4x
Sun, 29 Dec 2024₦8.6t₦5.2t₦351.1b10.2x24.4x1.6x
Tue, 26 Nov 2024₦8.4t₦5.2t₦351.0b9.7x24x1.6x
Thu, 24 Oct 2024₦8.4t₦4.5t₦269.7b13.1x31.1x1.9x
Sat, 21 Sep 2024₦8.4t₦4.5t₦269.7b11.2x31.2x1.9x
Mon, 19 Aug 2024₦8.0t₦4.5t₦270.9b10x29.6x1.8x
Wed, 17 Jul 2024₦7.9t₦4.0t₦189.0b10.9x41.8x2x
Fri, 14 Jun 2024₦7.8t₦4.0t₦200.8b16.3x38.8x2x
Sun, 12 May 2024₦7.8t₦3.7t₦206.3b9.5x37.6x2.1x
Tue, 09 Apr 2024₦8.4t₦3.7t₦131.6b11.4x63.8x2.3x
Thu, 07 Mar 2024₦8.2t₦3.7t₦131.4b11x62.4x2.2x
Sat, 03 Feb 2024₦7.1t₦3.7t₦207.4b17.9x34.1x1.9x
Mon, 01 Jan 2024₦5.0t₦3.4t₦203.6b12.3x24.4x1.5x
Wed, 29 Nov 2023₦5.1t₦3.4t₦203.6b11.5x25.1x1.5x
Fri, 27 Oct 2023₦5.2t₦3.2t₦215.2b15.5x24x1.6x
Sun, 24 Sep 2023₦5.0t₦3.2t₦215.2b16.1x23.3x1.6x
Tue, 22 Aug 2023₦3.7t₦3.0t₦209.3b13.6x17.6x1.2x
Thu, 20 Jul 2023₦4.5t₦3.4t₦266.0b12.3x16.8x1.3x
Sat, 17 Jun 2023₦4.4t₦3.4t₦266.0b13.4x16.6x1.3x
Mon, 15 May 2023₦3.7t₦3.4t₦266.0b10x14x1.1x
Wed, 12 Apr 2023₦3.5t₦3.3t₦247.1b11.1x14x1.1x
Fri, 10 Mar 2023₦3.4t₦3.3t₦247.5b10.3x13.6x1x
Sun, 05 Feb 2023₦3.0t₦3.2t₦219.1b10.1x13.5x0.9x
Tue, 03 Jan 2023₦2.8t₦3.0t₦216.7b10.6x12.7x0.9x
Thu, 01 Dec 2022₦2.6t₦3.0t₦213.9b11.3x12.1x0.9x
Sat, 29 Oct 2022₦2.7t₦2.8t₦197.6b12.4x13.8x1x
Mon, 26 Sep 2022₦2.9t₦2.9t₦221.8b9.5x13x1x
Wed, 24 Aug 2022₦2.8t₦2.9t₦221.8b9.5x12.5x1x
Price to Earnings Ratio

12.5x


Total Market Cap: ₦2.8tTotal Earnings: ₦221.8bTotal Revenue: ₦2.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Food Industry Price to Earnings3Y Average 26.9x202320242025
Current Industry PE
  • Investors are relatively neutral on the Nigerian Food industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 26.9x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 37% per year over the last three years.
  • Revenues for these companies have grown 12% 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-0.83%
Food0.88%
Packaged Foods and Meats1.32%
Agricultural Products-1.19%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry, which is trading close to its 3-year average PE ratio of 34.8x.
    • Analysts are expecting annual earnings growth of 56.5%, which is lower than the prior year's growth of 87.6% 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 9.8x.
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 88% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 56% 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
BUAFOODS BUA Foods₦588.002.3%
+₦235.8b		54.8%PE26.8x
ELLAHLAKES Ellah Lakes₦14.8812.0%
+₦6.2b		396.0%PS650.1x
FTNCOCOA FTN Cocoa Processors₦6.659.9%
+₦2.3b		253.7%PS40.7x

Latest News

NASCON
₦90.50
Nascon Allied Industries
7D
-2.3%
1Y
157.5%
BUAFOODS
₦588.00
BUA Foods
7D
2.3%
1Y
54.8%
UACN
₦79.95
UAC of Nigeria
7D
-4.4%
1Y
368.9%
OKOMUOIL
₦1,020.00
Okomu Oil Palm
7D
-2.9%
1Y
195.4%
CADBURY
₦59.80
Cadbury Nigeria
7D
-4.7%
1Y
230.4%
HONYFLOUR
₦22.70
Honeywell Flour Mills
7D
-8.5%
1Y
444.4%
LIVESTOCK
₦8.45
Livestock Feeds
7D
-5.1%
1Y
275.6%
NNFM
₦87.10
Northern Nigeria Flour Mills
7D
-6.5%
1Y
80.3%
DANGSUGAR
₦55.95
Dangote Sugar Refinery
7D
-6.0%
1Y
37.6%
ELLAHLAKES
₦14.88
Ellah Lakes
7D
12.0%
1Y
396.0%
FTNCOCOA
₦6.65
FTN Cocoa Processors
7D
9.9%
1Y
253.7%