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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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 02 Dec 2023₦6.7t₦7.6t₦2.7t4.4x2.5x0.9x
Mon, 30 Oct 2023₦6.2t₦7.4t₦2.5t4.4x2.5x0.8x
Wed, 27 Sep 2023₦6.2t₦7.0t₦2.4t4.1x2.6x0.9x
Fri, 25 Aug 2023₦6.0t₦6.0t₦1.6t4.5x3.9x1x
Sun, 23 Jul 2023₦6.3t₦5.8t₦1.4t5.8x4.4x1.1x
Tue, 20 Jun 2023₦5.4t₦5.5t₦1.3t5.8x4.1x1x
Thu, 18 May 2023₦4.2t₦5.2t₦1.3t4.6x3.2x0.8x
Sat, 15 Apr 2023₦4.0t₦4.9t₦1.3t4.6x2.9x0.8x
Mon, 13 Mar 2023₦4.1t₦4.8t₦1.3t4x3.1x0.9x
Wed, 08 Feb 2023₦4.1t₦4.8t₦1.3t4x3.1x0.8x
Fri, 06 Jan 2023₦3.8t₦4.7t₦1.3t4.1x3x0.8x
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
Price to Earnings Ratio

4.1x


Total Market Cap: ₦3.6tTotal Earnings: ₦876.4bTotal Revenue: ₦3.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Financials Sector Price to Earnings3Y Average 3.5x202120222023
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%
Financials1.52%
Banks2.91%
Mortgage Finance0%
Mortgage REITs0%
Consumer Finance0%
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?

CompanyLast Price7D1YValuation
FBNH FBN Holdings₦22.1510.8%
+₦77.2b
97.8%PB0.6x
ETI Ecobank Transnational₦17.106.9%
+₦27.1b
70.1%PB0.5x
ACCESSCORP Access Holdings₦18.054.0%
+₦24.0b
107.5%PB0.4x
UBA United Bank for Africa₦21.302.2%
+₦15.4b
191.8%PB0.4x
ZENITHBANK Zenith Bank₦35.000.9%
+₦9.4b
53.8%PB0.6x
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Latest News

ETI

₦17.10

Ecobank Transnational

7D

6.9%

1Y

70.1%

WAPIC

₦0.65

Coronation Insurance

7D

-12.2%

1Y

75.7%

FBNH

₦22.15

FBN Holdings

7D

10.8%

1Y

97.8%

CONHALLPLC

₦1.26

Consolidated Hallmark Holdings

7D

15.6%

1Y

113.6%

SUNUASSUR

₦1.26

Sunu Assurances Nigeria

7D

11.5%

1Y

366.7%

UNITYBNK

₦1.54

Unity Bank

7D

-16.3%

1Y

170.2%

ETRANZACT

₦7.10

eTranzact International

7D

-4.1%

1Y

102.9%

JAIZBANK

₦1.50

Jaiz Bank

7D

-8.5%

1Y

72.4%

ZENITHBANK

₦35.00

Zenith Bank

7D

0.9%

1Y

53.8%

AIICO

₦0.73

AIICO Insurance

7D

-6.4%

1Y

35.2%

UBA

₦21.30

United Bank for Africa

7D

2.2%

1Y

191.8%

ABBEYBDS

₦1.72

Abbey Mortgage Bank

7D

-7.5%

1Y

1.2%

STANBIC

₦62.05

Stanbic IBTC Holdings

7D

-4.5%

1Y

103.1%

ACCESSCORP

₦18.05

Access Holdings

7D

4.0%

1Y

107.5%

GTCO

₦39.10

Guaranty Trust Holding

7D

0.3%

1Y

82.7%

UCAP

₦17.15

United Capital

7D

-1.4%

1Y

29.4%