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Nigerian (NSE) Financials Sector Analysis
UpdatedDec 30, 2024
DataAggregated Company Financials
Companies44
- 7D0.7%
- 3M16.9%
- 1Y28.0%
- YTD28.2%
The Financials is pretty flat in the last 7 days, but FBN Holdings has stood out, gaining 3.5%. As for the the longer term, the industry is up 28% over the past 12 months. In the next few years earnings are forecast to be pretty stable.
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 |
|---|---|---|---|---|---|---|
| Tue, 31 Dec 2024 | ₦9.6t | ₦15.1t | ₦5.8t | 3.7x | 1.7x | 0.6x |
| Thu, 28 Nov 2024 | ₦8.7t | ₦15.3t | ₦5.8t | 3x | 1.5x | 0.6x |
| Sat, 26 Oct 2024 | ₦8.6t | ₦14.0t | ₦5.3t | 2.6x | 1.6x | 0.6x |
| Mon, 23 Sep 2024 | ₦7.9t | ₦13.4t | ₦5.2t | 2.9x | 1.5x | 0.6x |
| Wed, 21 Aug 2024 | ₦7.3t | ₦12.4t | ₦4.8t | 2.7x | 1.5x | 0.6x |
| Fri, 19 Jul 2024 | ₦7.3t | ₦12.2t | ₦4.7t | 3.2x | 1.5x | 0.6x |
| Sun, 16 Jun 2024 | ₦7.0t | ₦12.0t | ₦4.7t | 3.1x | 1.5x | 0.6x |
| Tue, 14 May 2024 | ₦7.0t | ₦11.6t | ₦4.5t | 4.2x | 1.6x | 0.6x |
| Thu, 11 Apr 2024 | ₦7.9t | ₦9.6t | ₦3.6t | 5x | 2.2x | 0.8x |
| Sat, 09 Mar 2024 | ₦7.2t | ₦9.2t | ₦3.0t | 4.4x | 2.4x | 0.8x |
| Mon, 05 Feb 2024 | ₦8.5t | ₦9.0t | ₦2.9t | 5.3x | 2.9x | 0.9x |
| Wed, 03 Jan 2024 | ₦7.6t | ₦7.7t | ₦2.7t | 4.3x | 2.8x | 1x |
| Fri, 01 Dec 2023 | ₦6.7t | ₦7.6t | ₦2.7t | 4.3x | 2.5x | 0.9x |
| Sun, 29 Oct 2023 | ₦6.2t | ₦7.4t | ₦2.5t | 4.4x | 2.5x | 0.8x |
| Tue, 26 Sep 2023 | ₦6.3t | ₦7.0t | ₦2.4t | 4.3x | 2.6x | 0.9x |
| Thu, 24 Aug 2023 | ₦6.1t | ₦6.0t | ₦1.6t | 4.5x | 3.9x | 1x |
| Sat, 22 Jul 2023 | ₦6.3t | ₦5.8t | ₦1.5t | 5.8x | 4.4x | 1.1x |
| Mon, 19 Jun 2023 | ₦5.3t | ₦5.5t | ₦1.3t | 5.6x | 4.1x | 1x |
| Wed, 17 May 2023 | ₦4.1t | ₦5.2t | ₦1.3t | 4.6x | 3.2x | 0.8x |
| Fri, 14 Apr 2023 | ₦4.0t | ₦4.9t | ₦1.3t | 4.5x | 3x | 0.8x |
| Sun, 12 Mar 2023 | ₦4.1t | ₦4.8t | ₦1.3t | 4x | 3.1x | 0.9x |
| Tue, 07 Feb 2023 | ₦4.1t | ₦4.8t | ₦1.3t | 4.1x | 3.1x | 0.9x |
| Thu, 05 Jan 2023 | ₦3.8t | ₦4.7t | ₦1.3t | 4.1x | 2.9x | 0.8x |
| Sat, 03 Dec 2022 | ₦3.6t | ₦4.7t | ₦1.3t | 3.8x | 2.8x | 0.8x |
| Mon, 31 Oct 2022 | ₦3.3t | ₦4.6t | ₦1.2t | 3.9x | 2.7x | 0.7x |
| Wed, 28 Sep 2022 | ₦3.5t | ₦4.5t | ₦1.2t | 4.4x | 2.9x | 0.8x |
| Fri, 26 Aug 2022 | ₦3.6t | ₦4.4t | ₦1.2t | 4.9x | 3x | 0.8x |
| Sun, 24 Jul 2022 | ₦3.7t | ₦4.3t | ₦1.2t | 4.7x | 3.1x | 0.9x |
| Tue, 21 Jun 2022 | ₦3.7t | ₦4.3t | ₦1.2t | 4.4x | 3.1x | 0.9x |
| Thu, 19 May 2022 | ₦4.1t | ₦4.1t | ₦1.1t | 6.4x | 3.8x | 1x |
| Sat, 16 Apr 2022 | ₦3.9t | ₦3.9t | ₦1.1t | 6.7x | 3.7x | 1x |
| Mon, 14 Mar 2022 | ₦4.0t | ₦3.9t | ₦1.0t | 6.8x | 3.9x | 1x |
| Wed, 09 Feb 2022 | ₦4.0t | ₦3.9t | ₦1.0t | 6.3x | 3.9x | 1x |
| Fri, 07 Jan 2022 | ₦3.8t | ₦3.8t | ₦1.0t | 7.8x | 3.7x | 1x |
Price to Earnings Ratio
3.7x
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 1.7x which is lower than its 3-year average PE of 2.8x.
- The industry is trading close to its 3-year average PS ratio of 0.83x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 79% per year over the last three years.
- Revenues for these companies have grown 58% 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 | 0.28% | |
| Financials | 0.69% | |
| Insurance | 4.93% | |
| Capital Markets | 4.53% | |
| Diversified Financial | 1.83% | |
| Mortgage Finance | 0% | |
| Mortgage REITs | 0% | |
| Consumer Finance | 0% | |
| Banks | -0.019% | |
Industry PE
- Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 12.8x.
- 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 2.4x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 11% over the next 5 years.
- However this is lower than its past earnings growth rate of 58% per year.
- In contrast, the Banks industry is expected to see its earnings growth to stay flat 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 | ₦28.20 | 3.9% +₦37.7b | 19.7% | PB0.4x | |
| UCAP United Capital | ₦20.50 | 6.5% +₦22.5b | 167.4% | PE19.5x | |
| FIDELITYBK Fidelity Bank | ₦17.30 | 3.9% +₦20.8b | 59.4% | PB0.8x | |
| SUNUASSUR Sunu Assurances Nigeria | ₦9.88 | 20.0% +₦9.6b | 798.2% | PE10x | |
| WEMABANK Wema Bank | ₦9.05 | 3.4% +₦6.4b | 61.6% | PB0.9x |