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Nigerian (NSE) Food Industry Analysis

UpdatedSep 15, 2024
DataAggregated Company Financials
Companies12
  • 7D0.6%
  • 3M8.2%
  • 1Y104.2%
  • YTD95.9%

Last week, the Food industry hasn't moved much but Nestlé Nigeria is up 9.9% in that time. As for the the longer term, the industry is up 104% over the past 12 months. Earnings are forecast to grow by 8.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Sep 2024₦8.4t₦4.5t₦269.7b12.1x31.3x1.9x
Wed, 14 Aug 2024₦8.0t₦4.5t₦270.9b10x29.6x1.8x
Fri, 12 Jul 2024₦7.9t₦4.0t₦189.0b10.9x41.6x2x
Sun, 09 Jun 2024₦7.8t₦4.0t₦200.8b16.3x38.6x2x
Tue, 07 May 2024₦7.7t₦3.7t₦206.3b9.4x37.5x2.1x
Thu, 04 Apr 2024₦8.3t₦3.7t₦132.1b11x63x2.2x
Sat, 02 Mar 2024₦8.4t₦3.7t₦207.4b15.1x40.5x2.3x
Mon, 29 Jan 2024₦6.9t₦3.4t₦203.8b15.2x33.9x2x
Wed, 27 Dec 2023₦5.1t₦3.4t₦203.6b12.5x25x1.5x
Fri, 24 Nov 2023₦5.2t₦3.4t₦203.6b11.6x25.4x1.5x
Sun, 22 Oct 2023₦5.2t₦3.2t₦215.2b15.5x24x1.6x
Tue, 19 Sep 2023₦4.8t₦3.2t₦215.2b16.1x22.4x1.5x
Thu, 17 Aug 2023₦3.7t₦3.0t₦209.3b13.6x17.6x1.2x
Sat, 15 Jul 2023₦4.5t₦3.4t₦266.0b12.9x16.9x1.3x
Mon, 12 Jun 2023₦4.2t₦3.4t₦266.0b12.1x15.9x1.3x
Wed, 10 May 2023₦3.7t₦3.4t₦266.0b10x13.8x1.1x
Fri, 07 Apr 2023₦3.5t₦3.2t₦237.6b10.6x14.6x1.1x
Sun, 05 Mar 2023₦3.4t₦3.3t₦247.5b10.3x13.6x1x
Tue, 31 Jan 2023₦3.0t₦3.0t₦216.0b10x13.7x1x
Thu, 29 Dec 2022₦2.7t₦3.0t₦216.7b10.6x12.3x0.9x
Sat, 26 Nov 2022₦2.6t₦3.0t₦213.9b11.3x12.1x0.9x
Mon, 24 Oct 2022₦2.7t₦2.8t₦218.7b7.6x12.5x1x
Wed, 21 Sep 2022₦2.9t₦2.9t₦221.8b9.5x13x1x
Fri, 19 Aug 2022₦2.9t₦2.9t₦221.0b9.5x13x1x
Sun, 17 Jul 2022₦2.9t₦2.6t₦206.8b14.4x13.8x1.1x
Tue, 14 Jun 2022₦3.0t₦2.5t₦207.9b15.9x14.5x1.2x
Thu, 12 May 2022₦3.1t₦2.5t₦209.5b16.4x14.8x1.2x
Sat, 09 Apr 2022₦2.9t₦2.4t₦203.3b11.1x14.2x1.2x
Mon, 07 Mar 2022₦2.9t₦2.4t₦204.4b11.2x14.3x1.2x
Wed, 02 Feb 2022₦3.0t₦2.3t₦206.9b12.4x14.5x1.3x
Fri, 31 Dec 2021₦1.8t₦1.9t₦121.8b10.7x14.7x0.9x
Sun, 28 Nov 2021₦1.8t₦1.9t₦121.8b10.9x14.7x0.9x
Tue, 26 Oct 2021₦1.8t₦1.8t₦126.9b11.4x14.2x1x
Thu, 23 Sep 2021₦1.7t₦1.8t₦126.6b10.3x13.8x1x
Price to Earnings Ratio

13.8x


Total Market Cap: ₦1.7tTotal Earnings: ₦126.6bTotal Revenue: ₦1.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Food Industry Price to Earnings3Y Average 22.4x202220232024
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 31.3x which is higher than its 3-year average PE of 22.4x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Food industry have grown 29% per year over the last three years.
  • Revenues for these companies have grown 36% 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-1.70%
Consumer Staples-2.38%
Food0.60%
Packaged Foods and Meats0.66%
Agricultural Products0.11%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 26.6x.
    • Analysts are expecting annual earnings growth of 3.6%, which is lower than the prior year's growth of 32.4% 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 9.2x.
Forecasted Growth
  • Analysts are most optimistic on the Agricultural Products industry, expecting annual earnings growth of 11% over the next 5 years.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 3.6% 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₦890.009.9%
+₦63.4b		-13.2%PS1x
FLOURMILL Flour Mills of Nigeria₦54.5022.5%
+₦41.0b		66.7%PE12.1x
HONYFLOUR Honeywell Flour Mills₦4.4811.7%
+₦3.7b		37.0%PS0.2x
LIVESTOCK Livestock Feeds₦2.6015.0%
+₦1.0b		42.1%PE46x
NASCON Nascon Allied Industries₦32.401.1%
+₦945.8m		-36.3%PE6.9x
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Latest News

FLOURMILL

₦54.50

Flour Mills of Nigeria

7D

22.5%

1Y

66.7%

MCNICHOLS

₦1.41

McNichols

7D

4.4%

1Y

88.0%

UACN

₦23.15

UAC of Nigeria

7D

0.9%

1Y

118.4%

LIVESTOCK

₦2.60

Livestock Feeds

7D

15.0%

1Y

42.1%

NASCON

₦32.40

Nascon Allied Industries

7D

1.1%

1Y

-36.3%

NNFM

₦43.50

Northern Nigeria Flour Mills

7D

-9.9%

1Y

192.9%

FTNCOCOA

₦1.74

FTN Cocoa Processors

7D

15.2%

1Y

-13.0%

DANGSUGAR

₦35.00

Dangote Sugar Refinery

7D

-1.0%

1Y

-38.8%

HONYFLOUR

₦4.48

Honeywell Flour Mills

7D

11.7%

1Y

37.0%

NESTLE

₦890.00

Nestlé Nigeria

7D

9.9%

1Y

-13.2%