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Nigerian (NSE) Financials Sector Analysis
UpdatedAug 21, 2025
DataAggregated Company Financials
Companies44
- 7D-5.7%
- 3M35.8%
- 1Y86.6%
- YTD40.8%
Over the last 7 days, the Financials industry has dropped 4.0%, driven by Stanbic IBTC Holdings declining 14%. In the past year, the industry has gained 89%. As for the next few years, earnings are expected to grow by 14% per annum.
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 |
|---|---|---|---|---|---|---|
| Thu, 21 Aug 2025 | ₦17.0t | ₦16.5t | ₦5.6t | 8.3x | 3x | 1x |
| Sat, 19 Jul 2025 | ₦16.6t | ₦16.1t | ₦5.6t | 6.1x | 3x | 1x |
| Mon, 16 Jun 2025 | ₦12.9t | ₦16.1t | ₦5.6t | 5x | 2.3x | 0.8x |
| Wed, 14 May 2025 | ₦12.0t | ₦16.4t | ₦5.8t | 4.7x | 2.1x | 0.7x |
| Fri, 11 Apr 2025 | ₦11.4t | ₦15.7t | ₦5.9t | 3.6x | 1.9x | 0.7x |
| Sun, 09 Mar 2025 | ₦10.7t | ₦15.5t | ₦5.9t | 4.3x | 1.8x | 0.7x |
| Tue, 04 Feb 2025 | ₦11.1t | ₦15.4t | ₦5.9t | 4.2x | 1.9x | 0.7x |
| Thu, 02 Jan 2025 | ₦9.5t | ₦15.1t | ₦5.8t | 3.5x | 1.6x | 0.6x |
| Sat, 30 Nov 2024 | ₦8.8t | ₦15.3t | ₦5.8t | 3x | 1.5x | 0.6x |
| Mon, 28 Oct 2024 | ₦8.6t | ₦14.1t | ₦5.3t | 2.6x | 1.6x | 0.6x |
| Wed, 25 Sep 2024 | ₦8.3t | ₦13.5t | ₦5.2t | 3x | 1.6x | 0.6x |
| Fri, 23 Aug 2024 | ₦7.3t | ₦12.4t | ₦4.8t | 2.7x | 1.5x | 0.6x |
| Sun, 21 Jul 2024 | ₦7.3t | ₦12.2t | ₦4.7t | 3.2x | 1.5x | 0.6x |
| Tue, 18 Jun 2024 | ₦7.0t | ₦12.0t | ₦4.7t | 3.1x | 1.5x | 0.6x |
| Thu, 16 May 2024 | ₦6.8t | ₦11.7t | ₦4.5t | 4.2x | 1.5x | 0.6x |
| Sat, 13 Apr 2024 | ₦7.5t | ₦9.8t | ₦3.6t | 4.8x | 2.1x | 0.8x |
| Mon, 11 Mar 2024 | ₦7.2t | ₦9.2t | ₦3.0t | 4.4x | 2.4x | 0.8x |
| Wed, 07 Feb 2024 | ₦8.0t | ₦8.8t | ₦2.9t | 5.1x | 2.7x | 0.9x |
| Fri, 05 Jan 2024 | ₦8.2t | ₦7.8t | ₦2.7t | 4.5x | 3x | 1.1x |
| Sun, 03 Dec 2023 | ₦6.7t | ₦7.6t | ₦2.7t | 4.4x | 2.5x | 0.9x |
| Tue, 31 Oct 2023 | ₦6.4t | ₦7.3t | ₦2.5t | 4.4x | 2.5x | 0.9x |
| Thu, 28 Sep 2023 | ₦6.2t | ₦7.0t | ₦2.4t | 4.1x | 2.6x | 0.9x |
| Sat, 26 Aug 2023 | ₦5.9t | ₦6.0t | ₦1.6t | 4.4x | 3.8x | 1x |
| Mon, 24 Jul 2023 | ₦6.3t | ₦5.8t | ₦1.4t | 5.8x | 4.4x | 1.1x |
| Wed, 21 Jun 2023 | ₦5.5t | ₦5.5t | ₦1.3t | 5.7x | 4.2x | 1x |
| Fri, 19 May 2023 | ₦4.2t | ₦5.2t | ₦1.3t | 4.6x | 3.2x | 0.8x |
| Sun, 16 Apr 2023 | ₦3.9t | ₦4.9t | ₦1.3t | 4.6x | 2.9x | 0.8x |
| Tue, 14 Mar 2023 | ₦4.1t | ₦4.8t | ₦1.3t | 4.1x | 3.1x | 0.9x |
| Thu, 09 Feb 2023 | ₦4.1t | ₦4.8t | ₦1.3t | 4x | 3.1x | 0.8x |
| Sat, 07 Jan 2023 | ₦3.9t | ₦4.7t | ₦1.3t | 4.1x | 3x | 0.8x |
| Mon, 05 Dec 2022 | ₦3.6t | ₦4.7t | ₦1.3t | 3.8x | 2.8x | 0.8x |
| Wed, 02 Nov 2022 | ₦3.3t | ₦4.7t | ₦1.3t | 4.1x | 2.6x | 0.7x |
| Fri, 30 Sep 2022 | ₦3.5t | ₦4.5t | ₦1.2t | 4.4x | 2.9x | 0.8x |
| Sun, 28 Aug 2022 | ₦3.6t | ₦4.4t | ₦1.2t | 4.7x | 3x | 0.8x |
Price to Earnings Ratio
3x
Current Industry PE
- Investors are optimistic on the Nigerian Financials industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 3.1x which is higher than its 3-year average PE of 2.5x.
- The 3-year average PS ratio of 0.79x is lower than the industry's current PS ratio of 1.0x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 67% per year over the last three years.
- Revenues for these companies have grown 56% 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 | -3.27% | |
| Financials | -5.67% | |
| Mortgage Finance | 0% | 0 |
| Banks | -3.31% | |
| Capital Markets | -5.60% | |
| Diversified Financial | -12.74% | |
| Insurance | -17.80% | |
Industry PE
- Investors are most optimistic about the Capital Markets industry even though it's trading below its 3-year average PE ratio of 14.0x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 2.2x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 21% over the next 5 years.
- However this is lower than its past earnings growth rate of 66% per year.
- In contrast, the Banks industry is expected to see its earnings grow by 13% 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 | |
|---|---|---|---|---|---|
| ETI Ecobank Transnational | ₦39.20 | 3.7% +₦34.4b | 91.7% | PB0.4x | |
| WEMABANK Wema Bank | ₦23.70 | 3.0% +₦15.0b | 264.6% | PB1.6x | |
| ETRANZACT eTranzact International | ₦11.20 | 4.7% +₦4.6b | 124.0% | PE28.4x | |
| MBENEFIT Mutual Benefits Assurance | ₦4.05 | 4.4% +₦3.4b | 563.9% | PE4.1x | |
| ABBEYBDS Abbey Mortgage Bank | ₦7.14 | 4.2% +₦2.9b | 176.7% | PE33.6x |
