Narrative Update • Jun 04
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Nigerian (NSE) Energy Sector Analysis
UpdatedJun 07, 2026
DataAggregated Company Financials
Companies5
- 7D-9.2%
- 3M27.6%
- 1Y174.7%
- YTD125.8%
Over the last 7 days, the Energy industry has dropped 9.2%, driven by pullbacks from every company within the industry. Over the past 12 months, the industry was up 175%. As for the next few years, earnings are expected to grow by 65% per annum.
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, 07 Jun 2026 | ₦8.1t | ₦2.0t | ₦392.1b | 31.7x | 20.6x | 3.9x |
| Tue, 05 May 2026 | ₦9.2t | ₦2.1t | ₦390.1b | 31.1x | 23.7x | 4.5x |
| Thu, 02 Apr 2026 | ₦5.9t | ₦2.1t | ₦386.2b | 31.9x | 15.4x | 2.9x |
| Sat, 28 Feb 2026 | ₦5.1t | ₦2.1t | ₦386.2b | 34.1x | 13.3x | 2.5x |
| Mon, 26 Jan 2026 | ₦3.8t | ₦2.2t | ₦377.6b | 22.3x | 10.1x | 1.8x |
| Wed, 24 Dec 2025 | ₦3.4t | ₦2.2t | ₦377.6b | 20.8x | 8.9x | 1.6x |
| Fri, 21 Nov 2025 | ₦3.5t | ₦2.2t | ₦377.6b | 19.4x | 9.2x | 1.6x |
| Sun, 19 Oct 2025 | ₦3.2t | ₦2.2t | ₦305.7b | 21.8x | 10.5x | 1.5x |
| Tue, 16 Sep 2025 | ₦2.8t | ₦2.2t | ₦311.5b | 22.7x | 9x | 1.3x |
| Thu, 14 Aug 2025 | ₦2.8t | ₦2.7t | ₦323.7b | 16.7x | 8.6x | 1x |
| Sat, 12 Jul 2025 | ₦2.9t | ₦2.8t | ₦304.1b | 11.9x | 9.4x | 1x |
| Mon, 09 Jun 2025 | ₦2.9t | ₦2.8t | ₦310.8b | 12.1x | 9.5x | 1.1x |
| Wed, 07 May 2025 | ₦2.9t | ₦2.8t | ₦312.7b | 11.9x | 9.2x | 1x |
| Fri, 04 Apr 2025 | ₦2.8t | ₦2.6t | ₦308.7b | 11.8x | 9x | 1.1x |
| Sun, 02 Mar 2025 | ₦2.9t | ₦2.6t | ₦297.5b | 13x | 9.8x | 1.1x |
| Tue, 28 Jan 2025 | ₦2.9t | ₦2.1t | ₦194.8b | 16.3x | 15.1x | 1.4x |
| Thu, 26 Dec 2024 | ₦3.2t | ₦2.1t | ₦192.2b | 14.5x | 16.7x | 1.5x |
| Sat, 23 Nov 2024 | ₦2.8t | ₦2.1t | ₦192.2b | 11.2x | 14.4x | 1.3x |
| Mon, 21 Oct 2024 | ₦3.1t | ₦1.5t | ₦42.0b | 9.3x | 74.1x | 2.1x |
| Wed, 18 Sep 2024 | ₦391.4b | ₦1.5t | ₦42.0b | 9.3x | 9.3x | 0.3x |
| Fri, 16 Aug 2024 | ₦319.8b | ₦1.5t | ₦42.0b | 7.6x | 7.6x | 0.2x |
| Sun, 14 Jul 2024 | ₦273.1b | ₦1.3t | ₦35.8b | 8.7x | 7.6x | 0.2x |
| Tue, 11 Jun 2024 | ₦233.5b | ₦1.2t | ₦34.8b | 8.9x | 6.7x | 0.2x |
| Thu, 09 May 2024 | ₦229.4b | ₦1.1t | ₦27.4b | 9.3x | 8.4x | 0.2x |
| Sat, 06 Apr 2024 | ₦388.1b | ₦1.1t | ₦28.4b | 9.5x | 13.6x | 0.4x |
| Mon, 04 Mar 2024 | ₦389.7b | ₦1.1t | ₦28.5b | 9.5x | 13.7x | 0.4x |
| Wed, 31 Jan 2024 | ₦496.9b | ₦1.4t | ₦8.6b | 9.9x | 57.7x | 0.4x |
| Fri, 29 Dec 2023 | ₦415.0b | ₦1.3t | ₦10.2b | 9.1x | 40.6x | 0.3x |
| Sun, 26 Nov 2023 | ₦432.2b | ₦1.3t | ₦10.2b | 9.5x | 42.3x | 0.3x |
| Tue, 24 Oct 2023 | ₦391.1b | ₦1.2t | ₦9.8b | 8x | 39.9x | 0.3x |
| Thu, 21 Sep 2023 | ₦443.1b | ₦1.2t | ₦9.8b | 8x | 45.3x | 0.4x |
| Sat, 19 Aug 2023 | ₦372.6b | ₦1.2t | ₦9.8b | 8.1x | 38.1x | 0.3x |
| Mon, 17 Jul 2023 | ₦367.2b | ₦1.2t | ₦12.8b | 10.5x | 28.7x | 0.3x |
| Wed, 14 Jun 2023 | ₦213.8b | ₦1.2t | ₦19.3b | 8.8x | 11.1x | 0.2x |
Price to Earnings Ratio
11.1x
Current Industry PE
- Investors are optimistic on the Nigerian Energy industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 20.6x which is higher than its 3-year average PE of 17.6x.
- The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 3.9x.
Past Earnings Growth
- The earnings for companies in the Energy industry have grown 173% per year over the last three years.
- Revenues for these companies have grown 20% 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 | -3.56% | |
| Energy | -9.15% | |
| Energy Services | -8.00% | |
| Oil and Gas | -9.16% | |
Industry PE
- Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 12.0x.
- 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, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 14.9x.
Forecasted Growth
- Analysts are most optimistic on the Oil and Gas industry, expecting annual earnings growth of 65% over the next 5 years.
- This is better than its past earnings decline of 41% per year.
- In contrast, the Oil and Gas industry is expected to see its earnings grow by 65% 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 | |
|---|---|---|---|---|---|
| No data available | |||||