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Nigerian (NSE) Financials Sector Analysis

UpdatedDec 04, 2022
DataAggregated Company Financials
Companies46
  • 7D1.8%
  • 3M2.0%
  • 1Y-0.6%
  • YTD-5.3%

In the last week, the Financials industry is up 1.8%, with Guaranty Trust Holding leading the way, up 7.0%. During this same period, the Ecobank Transnational underperformed, falling 5.6%. Despite this gain, the industry's performance has been flat over the past year. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

Has the Nigerian Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 04 Dec 2022₦3.6t₦4.7t₦1.3t3.8x2.8x0.8x
Tue, 01 Nov 2022₦3.3t₦4.7t₦1.3t4.1x2.6x0.7x
Thu, 29 Sep 2022₦3.5t₦4.5t₦1.2t4.4x2.9x0.8x
Sat, 27 Aug 2022₦3.6t₦4.4t₦1.2t4.7x3x0.8x
Mon, 25 Jul 2022₦3.7t₦4.3t₦1.2t4.7x3.1x0.9x
Wed, 22 Jun 2022₦3.7t₦4.3t₦1.2t4.4x3.1x0.9x
Fri, 20 May 2022₦4.1t₦4.1t₦1.1t6.3x3.8x1x
Sun, 17 Apr 2022₦3.9t₦3.9t₦1.1t6.7x3.7x1x
Tue, 15 Mar 2022₦4.0t₦3.9t₦1.0t6.8x3.9x1x
Thu, 10 Feb 2022₦4.1t₦3.9t₦1.0t6.3x3.9x1.1x
Sat, 08 Jan 2022₦3.8t₦3.8t₦1.0t4.8x3.7x1x
Mon, 06 Dec 2021₦3.6t₦3.8t₦950.9b4.9x3.8x0.9x
Wed, 03 Nov 2021₦3.8t₦8.3t₦1.5t4.6x2.5x0.5x
Fri, 01 Oct 2021₦3.5t₦3.8t₦952.5b4.6x3.6x0.9x
Sun, 29 Aug 2021₦3.7t₦3.9t₦948.9b4.9x3.9x1x
Mon, 05 Jul 2021₦3.7t₦3.9t₦948.9b4.7x3.9x1x
Thu, 08 Apr 2021₦3.8t₦3.7t₦936.8b4.5x4x1x
Sun, 10 Jan 2021₦3.6t₦3.7t₦929.9b4.3x3.9x1x
Sat, 03 Oct 2020₦2.9t₦3.6t₦876.4b4.5x3.3x0.8x
Tue, 07 Jul 2020₦2.6t₦3.5t₦919.5b3.9x2.8x0.7x
Fri, 10 Apr 2020₦2.2t₦3.5t₦916.4b4x2.4x0.6x
Thu, 02 Jan 2020₦3.4t₦3.4t₦902.9b5.1x3.7x1x
Price to Earnings Ratio

3.7x


Total Market Cap: ₦3.4tTotal Earnings: ₦902.9bTotal Revenue: ₦3.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Financials Sector Price to Earnings3Y Average 3.5x20212022
Current Industry PE
  • Investors are pessimistic on the Nigerien 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 2.8x 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 0.90x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 13% 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 Financials sector?

NG Market0.86%
Financials1.83%
Capital Markets5.63%
Banks2.05%
Insurance0.81%
Mortgage Finance0%
Mortgage REITs0%
Consumer Finance0%
Diversified Financial-0.33%
Industry PE
  • Investors are most optimistic about the Mortgage Finance industry even though it's trading below its 3-year average PE ratio of 63.7x.
    • 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 24% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Banks industry is expected to see its earnings grow by 15% 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
GTCO Guaranty Trust Holding₦21.407.0%
+₦29.8b
-11.2%PB0.5x
ZENITHBANK Zenith Bank₦22.753.9%
+₦26.7b
-3.2%PB0.5x
FBNH FBN Holdings₦11.201.8%
+₦7.2b
-5.1%PB0.5x
WEMABANK Wema Bank₦3.4311.7%
+₦4.6b
42.9%PB0.6x
UCAP United Capital₦13.256.0%
+₦4.5b
33.8%PE6.1x
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Latest News

ETI

₦10.05

Ecobank Transnational

7D

-5.6%

1Y

25.6%

UBN

₦6.50

Union Bank of Nigeria

7D

-0.8%

1Y

36.8%

UCAP

₦13.25

United Capital

7D

6.0%

1Y

33.8%

STANBIC

₦30.55

Stanbic IBTC Holdings

7D

-0.3%

1Y

-17.4%

NGXGROUP

₦23.95

Nigerian Exchange Group

7D

5.0%

1Y

40.9%

NEM

₦4.50

NEM Insurance

7D

9.2%

1Y

0%

LINKASSURE

₦0.40

Linkage Assurance

7D

-4.8%

1Y

-28.6%

GTCO

₦21.40

Guaranty Trust Holding

7D

7.0%

1Y

-11.2%

FBNH

₦11.20

FBN Holdings

7D

1.8%

1Y

-5.1%

CHIPLC

₦0.59

Consolidated Hallmark Insurance

7D

-3.3%

1Y

34.1%

CORNERST

₦0.48

Cornerstone Insurance

7D

-5.9%

1Y

-7.7%

STERLNBANK

₦1.40

Sterling Bank

7D

-2.8%

1Y

-4.8%

JAIZBANK

₦0.87

Jaiz Bank

7D

-1.1%

1Y

35.9%

ACCESSCORP

₦8.70

Access Holdings

7D

1.2%

1Y

-2.2%

ZENITHBANK

₦22.75

Zenith Bank

7D

3.9%

1Y

-3.2%

WEMABANK

₦3.43

Wema Bank

7D

11.7%

1Y

42.9%