Nigerian (NSE) Financials Sector Analysis
UpdatedApr 26, 2024
DataAggregated Company Financials
Companies47
- 7D-6.0%
- 3M-24.6%
- 1Y70.3%
- YTD-12.7%
Over the last 7 days, the Financials industry has dropped 5.5%, driven by a pullback from FBN Holdings of 27%. Over the past 12 months, the industry was up 72%. In the next few years, earnings are forecast to decline by 4.1% annually.
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 |
|---|---|---|---|---|---|---|
| Fri, 26 Apr 2024 | ₦6.5t | ₦9.8t | ₦3.6t | 4.2x | 1.8x | 0.7x |
| Sun, 24 Mar 2024 | ₦8.4t | ₦8.9t | ₦2.9t | 4.6x | 2.9x | 0.9x |
| Tue, 20 Feb 2024 | ₦7.6t | ₦9.0t | ₦2.9t | 5x | 2.6x | 0.8x |
| Thu, 18 Jan 2024 | ₦9.3t | ₦7.7t | ₦2.7t | 6.4x | 3.5x | 1.2x |
| Sat, 16 Dec 2023 | ₦7.3t | ₦7.6t | ₦2.7t | 4x | 2.8x | 1x |
| Mon, 13 Nov 2023 | ₦6.6t | ₦7.6t | ₦2.7t | 3.4x | 2.5x | 0.9x |
| Wed, 11 Oct 2023 | ₦6.3t | ₦7.0t | ₦2.4t | 4.4x | 2.6x | 0.9x |
| Fri, 08 Sep 2023 | ₦6.4t | ₦6.3t | ₦1.8t | 4.9x | 3.6x | 1x |
| Sun, 06 Aug 2023 | ₦6.2t | ₦6.0t | ₦1.5t | 4.8x | 4x | 1x |
| Tue, 04 Jul 2023 | ₦5.8t | ₦5.6t | ₦1.3t | 5.7x | 4.4x | 1x |
| Thu, 01 Jun 2023 | ₦4.7t | ₦5.2t | ₦1.3t | 5x | 3.6x | 0.9x |
| Sat, 29 Apr 2023 | ₦4.0t | ₦5.1t | ₦1.3t | 4.8x | 3.1x | 0.8x |
| Mon, 27 Mar 2023 | ₦4.0t | ₦4.8t | ₦1.3t | 4.2x | 3x | 0.8x |
| Wed, 22 Feb 2023 | ₦4.0t | ₦4.8t | ₦1.3t | 3.9x | 3x | 0.8x |
| Fri, 20 Jan 2023 | ₦3.9t | ₦4.7t | ₦1.3t | 4.3x | 3x | 0.8x |
| Sun, 18 Dec 2022 | ₦3.6t | ₦4.7t | ₦1.3t | 3.9x | 2.8x | 0.8x |
| Tue, 15 Nov 2022 | ₦3.3t | ₦4.7t | ₦1.3t | 3.8x | 2.5x | 0.7x |
| Thu, 13 Oct 2022 | ₦3.4t | ₦4.5t | ₦1.2t | 4.4x | 2.8x | 0.7x |
| Sat, 10 Sep 2022 | ₦3.6t | ₦4.5t | ₦1.2t | 4.7x | 3x | 0.8x |
| Mon, 08 Aug 2022 | ₦3.7t | ₦4.3t | ₦1.2t | 4.1x | 3x | 0.8x |
| Wed, 06 Jul 2022 | ₦3.8t | ₦4.3t | ₦1.2t | 4.3x | 3.2x | 0.9x |
| Fri, 03 Jun 2022 | ₦4.0t | ₦4.3t | ₦1.2t | 4.6x | 3.4x | 0.9x |
| Sun, 01 May 2022 | ₦4.1t | ₦4.0t | ₦1.1t | 6.5x | 3.9x | 1x |
| Tue, 29 Mar 2022 | ₦3.8t | ₦3.9t | ₦1.1t | 6.4x | 3.6x | 1x |
| Thu, 24 Feb 2022 | ₦4.0t | ₦3.9t | ₦1.0t | 6.7x | 3.9x | 1x |
| Sat, 22 Jan 2022 | ₦3.9t | ₦3.9t | ₦1.0t | 4.8x | 3.8x | 1x |
| Mon, 20 Dec 2021 | ₦3.7t | ₦3.8t | ₦1.0t | 4.7x | 3.7x | 1x |
| Wed, 17 Nov 2021 | ₦3.8t | ₦3.8t | ₦951.9b | 4.9x | 4x | 1x |
| Fri, 15 Oct 2021 | ₦3.7t | ₦3.8t | ₦952.4b | 5.1x | 3.9x | 1x |
| Sun, 12 Sep 2021 | ₦3.4t | ₦3.8t | ₦938.5b | 4.6x | 3.7x | 0.9x |
| Tue, 10 Aug 2021 | ₦3.7t | ₦3.9t | ₦948.9b | 4.7x | 3.9x | 1x |
| Mon, 03 May 2021 | ₦3.4t | ₦3.7t | ₦936.8b | 4.4x | 3.6x | 0.9x |
Price to Earnings Ratio
3.6x
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 1.8x which is lower than its 3-year average PE of 3.3x.
- The industry is trading close to its 3-year average PS ratio of 0.91x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 57% per year over the last three years.
- Revenues for these companies have grown 39% 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 | -1.09% | |
| Financials | -6.02% | |
| Mortgage Finance | 0% | |
| Mortgage REITs | 0% | |
| Consumer Finance | 0% | |
| Insurance | -0.02% | |
| Capital Markets | -5.38% | |
| Banks | -5.54% | |
| Diversified Financial | -12.07% | |
Industry PE
- Investors are most optimistic about the Capital Markets industry, which is trading close to its 3-year average PE ratio of 10.3x.
- 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 2.9x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 13% over the next 5 years.
- However this is lower than its past earnings growth rate of 80% per year.
- In contrast, the Banks industry is expected to see its earnings decline by 6.6% 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 | |
|---|---|---|---|---|---|
| GTCO Guaranty Trust Holding | ₦35.95 | 4.7% +₦34.1b | 44.4% | PB0.5x | |
| ZENITHBANK Zenith Bank | ₦36.40 | 1.1% +₦12.6b | 59.6% | PB0.5x | |
| FIDELITYBK Fidelity Bank | ₦9.00 | 3.4% +₦10.6b | 73.1% | PB0.7x | |
| UBA United Bank for Africa | ₦22.80 | 0.4% +₦3.4b | 190.4% | PB0.4x | |
| SUNUASSUR Sunu Assurances Nigeria | ₦1.30 | 30.0% +₦1.7b | 154.9% | PE2.6x |