Nigerian (NSE) Financials Sector Analysis
UpdatedDec 02, 2023
DataAggregated Company Financials
Companies50
- 7D1.5%
- 3M8.3%
- 1Y83.5%
- YTD71.6%
In the last week, the Financials industry is up 3.0%, with FBN Holdings up 12%. This takes the industry's 12 month performance to a gain of 88%. Looking forward, earnings are expected to remain mostly flat in the next few years.
Sector Valuation and Performance
Has the Nigerian Financials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 02 Dec 2023 | ₦6.7t | ₦7.6t | ₦2.7t | 4.4x | 2.5x | 0.9x |
| Mon, 30 Oct 2023 | ₦6.2t | ₦7.4t | ₦2.5t | 4.4x | 2.5x | 0.8x |
| Wed, 27 Sep 2023 | ₦6.2t | ₦7.0t | ₦2.4t | 4.1x | 2.6x | 0.9x |
| Fri, 25 Aug 2023 | ₦6.0t | ₦6.0t | ₦1.6t | 4.5x | 3.9x | 1x |
| Sun, 23 Jul 2023 | ₦6.3t | ₦5.8t | ₦1.4t | 5.8x | 4.4x | 1.1x |
| Tue, 20 Jun 2023 | ₦5.4t | ₦5.5t | ₦1.3t | 5.8x | 4.1x | 1x |
| Thu, 18 May 2023 | ₦4.2t | ₦5.2t | ₦1.3t | 4.6x | 3.2x | 0.8x |
| Sat, 15 Apr 2023 | ₦4.0t | ₦4.9t | ₦1.3t | 4.6x | 2.9x | 0.8x |
| Mon, 13 Mar 2023 | ₦4.1t | ₦4.8t | ₦1.3t | 4x | 3.1x | 0.9x |
| Wed, 08 Feb 2023 | ₦4.1t | ₦4.8t | ₦1.3t | 4x | 3.1x | 0.8x |
| Fri, 06 Jan 2023 | ₦3.8t | ₦4.7t | ₦1.3t | 4.1x | 3x | 0.8x |
| Sun, 04 Dec 2022 | ₦3.6t | ₦4.7t | ₦1.3t | 3.8x | 2.8x | 0.8x |
| Tue, 01 Nov 2022 | ₦3.3t | ₦4.7t | ₦1.3t | 4.1x | 2.6x | 0.7x |
| Thu, 29 Sep 2022 | ₦3.5t | ₦4.5t | ₦1.2t | 4.4x | 2.9x | 0.8x |
| Sat, 27 Aug 2022 | ₦3.6t | ₦4.4t | ₦1.2t | 4.7x | 3x | 0.8x |
| Mon, 25 Jul 2022 | ₦3.7t | ₦4.3t | ₦1.2t | 4.7x | 3.1x | 0.9x |
| Wed, 22 Jun 2022 | ₦3.7t | ₦4.3t | ₦1.2t | 4.4x | 3.1x | 0.9x |
| Fri, 20 May 2022 | ₦4.1t | ₦4.1t | ₦1.1t | 6.3x | 3.8x | 1x |
| Sun, 17 Apr 2022 | ₦3.9t | ₦3.9t | ₦1.1t | 6.7x | 3.7x | 1x |
| Tue, 15 Mar 2022 | ₦4.0t | ₦3.9t | ₦1.0t | 6.8x | 3.9x | 1x |
| Thu, 10 Feb 2022 | ₦4.1t | ₦3.9t | ₦1.0t | 6.3x | 3.9x | 1.1x |
| Sat, 08 Jan 2022 | ₦3.8t | ₦3.8t | ₦1.0t | 4.8x | 3.7x | 1x |
| Mon, 06 Dec 2021 | ₦3.6t | ₦3.8t | ₦950.9b | 4.9x | 3.8x | 0.9x |
| Wed, 03 Nov 2021 | ₦3.8t | ₦8.3t | ₦1.5t | 4.6x | 2.5x | 0.5x |
| Fri, 01 Oct 2021 | ₦3.5t | ₦3.8t | ₦952.5b | 4.6x | 3.6x | 0.9x |
| Sun, 29 Aug 2021 | ₦3.7t | ₦3.9t | ₦948.9b | 4.9x | 3.9x | 1x |
| Mon, 05 Jul 2021 | ₦3.7t | ₦3.9t | ₦948.9b | 4.7x | 3.9x | 1x |
| Thu, 08 Apr 2021 | ₦3.8t | ₦3.7t | ₦936.8b | 4.5x | 4x | 1x |
| Sun, 10 Jan 2021 | ₦3.6t | ₦3.7t | ₦929.9b | 4.3x | 3.9x | 1x |
Price to Earnings Ratio
4.1x
Current Industry PE
- Investors are pessimistic on the Nigerian Financials 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 2.5x which is lower than its 3-year average PE of 3.5x.
- The industry is trading close to its 3-year average PS ratio of 0.92x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 45% per year over the last three years.
- Revenues for these companies have grown 28% 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 Financials sector?
| NG Market | -0.42% | |
| Financials | 1.52% | |
| Banks | 2.91% | |
| Mortgage Finance | 0% | |
| Mortgage REITs | 0% | |
| Consumer Finance | 0% | |
| Capital Markets | -1.33% | |
| Insurance | -1.76% | |
| Diversified Financial | -4.48% | |
Industry PE
- Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 8.6x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Banks industry, which is trading below its 3-year average of 3.1x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 8.3% over the next 5 years.
- However this is lower than its past earnings growth rate of 61% per year.
- In contrast, the Banks industry is expected to see its earnings decline by 2.4% 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 | |
|---|---|---|---|---|---|
| FBNH FBN Holdings | ₦22.15 | 10.8% +₦77.2b | 97.8% | PB0.6x | |
| ETI Ecobank Transnational | ₦17.10 | 6.9% +₦27.1b | 70.1% | PB0.5x | |
| ACCESSCORP Access Holdings | ₦18.05 | 4.0% +₦24.0b | 107.5% | PB0.4x | |
| UBA United Bank for Africa | ₦21.30 | 2.2% +₦15.4b | 191.8% | PB0.4x | |
| ZENITHBANK Zenith Bank | ₦35.00 | 0.9% +₦9.4b | 53.8% | PB0.6x |