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Nigerian (NSE) Energy Sector Analysis
UpdatedSep 14, 2025
DataAggregated Company Financials
Companies5
- 7D5.4%
- 3M5.7%
- 1Y4.9%
- YTD-11.2%
In the last week, the Energy industry is up 5.4%, with Aradel Holdings up 6.6%. During this same period, the Eterna underperformed, falling 9.4%. This takes the industry's 12 month performance to a gain of 4.9%. Looking forward, earnings are forecast to grow by 44% annually.
Sector Valuation and Performance
Has the Nigerian Energy Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 14 Sep 2025 | ₦2.8t | ₦2.2t | ₦312.2b | 23.1x | 9x | 1.3x |
| Tue, 12 Aug 2025 | ₦2.8t | ₦2.7t | ₦324.2b | 15.4x | 8.6x | 1x |
| Thu, 10 Jul 2025 | ₦2.9t | ₦2.8t | ₦304.1b | 11.9x | 9.4x | 1x |
| Sat, 07 Jun 2025 | ₦2.9t | ₦2.8t | ₦310.8b | 12.1x | 9.5x | 1.1x |
| Mon, 05 May 2025 | ₦2.6t | ₦2.8t | ₦312.7b | 11.9x | 8.2x | 0.9x |
| Wed, 02 Apr 2025 | ₦2.8t | ₦2.6t | ₦297.5b | 11.8x | 9.3x | 1.1x |
| Fri, 28 Feb 2025 | ₦2.9t | ₦2.6t | ₦297.5b | 13x | 9.7x | 1.1x |
| Sun, 26 Jan 2025 | ₦2.9t | ₦2.1t | ₦194.8b | 16.3x | 15.1x | 1.4x |
| Tue, 24 Dec 2024 | ₦3.2t | ₦2.1t | ₦192.2b | 14x | 16.7x | 1.5x |
| Thu, 21 Nov 2024 | ₦2.8t | ₦2.1t | ₦191.4b | 11.2x | 14.7x | 1.3x |
| Sat, 19 Oct 2024 | ₦3.1t | ₦1.5t | ₦42.0b | 9.3x | 74.1x | 2.1x |
| Mon, 16 Sep 2024 | ₦391.4b | ₦1.5t | ₦42.0b | 9.3x | 9.3x | 0.3x |
| Wed, 14 Aug 2024 | ₦305.7b | ₦1.5t | ₦42.0b | 7.6x | 7.3x | 0.2x |
| Fri, 12 Jul 2024 | ₦273.1b | ₦1.3t | ₦35.8b | 8.7x | 7.6x | 0.2x |
| Sun, 09 Jun 2024 | ₦233.5b | ₦1.2t | ₦34.8b | 8.9x | 6.7x | 0.2x |
| Tue, 07 May 2024 | ₦229.4b | ₦1.2t | ₦34.8b | 8.6x | 6.6x | 0.2x |
| Thu, 04 Apr 2024 | ₦390.4b | ₦1.1t | ₦28.4b | 9.5x | 13.7x | 0.4x |
| Sat, 02 Mar 2024 | ₦389.7b | ₦1.1t | ₦28.5b | 9.5x | 13.7x | 0.4x |
| Mon, 29 Jan 2024 | ₦481.4b | ₦1.3t | ₦10.1b | 9.9x | 47.6x | 0.4x |
| Wed, 27 Dec 2023 | ₦416.7b | ₦1.3t | ₦10.2b | 9.1x | 40.8x | 0.3x |
| Fri, 24 Nov 2023 | ₦432.5b | ₦1.3t | ₦10.2b | 9.5x | 42.3x | 0.3x |
| Sun, 22 Oct 2023 | ₦391.2b | ₦1.2t | ₦9.8b | 8x | 40x | 0.3x |
| Tue, 19 Sep 2023 | ₦417.2b | ₦1.2t | ₦9.8b | 8x | 42.6x | 0.3x |
| Thu, 17 Aug 2023 | ₦371.9b | ₦1.2t | ₦9.8b | 8.1x | 38x | 0.3x |
| Sat, 15 Jul 2023 | ₦376.5b | ₦1.2t | ₦12.8b | 10.5x | 29.4x | 0.3x |
| Mon, 12 Jun 2023 | ₦213.3b | ₦1.2t | ₦19.3b | 8.6x | 11.1x | 0.2x |
| Wed, 10 May 2023 | ₦158.8b | ₦1.2t | ₦16.8b | 6.8x | 9.4x | 0.1x |
| Fri, 07 Apr 2023 | ₦217.3b | ₦1.1t | ₦16.7b | 5.5x | 13x | 0.2x |
| Sun, 05 Mar 2023 | ₦215.1b | ₦1.1t | ₦16.7b | 6.6x | 12.9x | 0.2x |
| Tue, 31 Jan 2023 | ₦190.3b | ₦1.0t | ₦8.8b | 5.5x | 21.5x | 0.2x |
| Thu, 29 Dec 2022 | ₦176.8b | ₦1.0t | ₦7.0b | 4.6x | 25.3x | 0.2x |
| Sat, 26 Nov 2022 | ₦170.3b | ₦1.0t | ₦7.0b | 4.6x | 24.4x | 0.2x |
| Mon, 24 Oct 2022 | ₦178.6b | ₦968.2b | ₦9.9b | 7x | 18x | 0.2x |
| Wed, 21 Sep 2022 | ₦189.6b | ₦968.7b | ₦9.9b | 7.5x | 19.2x | 0.2x |
Price to Earnings Ratio
19.2x
Current Industry PE
- Investors are pessimistic on the Nigerian Energy industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 8.8x which is lower than its 3-year average PE of 18.6x.
- The 3-year average PS ratio of 0.54x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- The earnings for companies in the Energy industry have grown 216% per year over the last three years.
- Revenues for these companies have grown 31% 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 Energy sector?
| NG Market | 1.49% | |
| Energy | 5.43% | |
| Energy Services | 5.77% | |
| Oil and Gas | 5.43% | |
Industry PE
- Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 10.0x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Oil and Gas industry, which is trading below its 3-year average of 14.7x.
Forecasted Growth
- Analysts are most optimistic on the Oil and Gas industry, expecting annual earnings growth of 44% over the next 5 years.
- This is better than its past earnings decline of 84% per year.
- In contrast, the Oil and Gas industry is expected to see its earnings grow by 44% 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 | |
|---|---|---|---|---|---|
| ARADEL Aradel Holdings | ₦545.00 | 6.6% +₦146.9b | n/a | PE7.9x | |
| OANDO Oando | ₦48.00 | 1.8% +₦12.4b | -36.7% | PE3.1x | |
| JAPAULGOLD Japaul Gold & Ventures | ₦2.75 | 5.8% +₦2.1b | 6.2% | PE23.1x |