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Nigerian (NSE) Capital Markets Industry Analysis

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies5
  • 7D-3.1%
  • 3M-10.3%
  • 1Y18.2%
  • YTD18.4%

Over the last 7 days, the Capital Markets industry has dropped 4.0%, driven by Nigerian Exchange Group declining 6.5%. Over the past 12 months, the industry was up 18%.

Industry Valuation and Performance

Has the Nigerian Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Jun 2026₦803.3b₦177.5b₦54.8b17.4x14.6x4.5x
Sun, 24 May 2026₦864.5b₦177.2b₦54.8b15.3x15.8x4.9x
Tue, 21 Apr 2026₦930.7b₦168.4b₦48.6b15.2x19.2x5.5x
Thu, 19 Mar 2026₦889.0b₦168.2b₦48.4b17.1x18.4x5.3x
Sat, 14 Feb 2026₦780.6b₦153.2b₦52.4b16.7x14.9x5.1x
Mon, 12 Jan 2026₦659.8b₦160.6b₦53.0b12.3x12.4x4.1x
Wed, 10 Dec 2025₦579.7b₦160.6b₦53.0b10.6x10.9x3.6x
Fri, 07 Nov 2025₦590.7b₦161.3b₦52.7b10.9x11.2x3.7x
Sun, 05 Oct 2025₦612.6b₦145.4b₦50.7b11.5x12.1x4.2x
Tue, 02 Sep 2025₦618.7b₦145.4b₦50.7b11.3x12.2x4.3x
Thu, 31 Jul 2025₦696.2b₦134.3b₦48.5b15.1x14.4x5.2x
Sat, 28 Jun 2025₦612.0b₦98.2b₦47.8b13x12.8x6.2x
Mon, 26 May 2025₦602.2b₦98.0b₦47.8b13.5x12.6x6.1x
Wed, 23 Apr 2025₦550.0b₦87.3b₦43.5b9.9x12.6x6.3x
Fri, 21 Mar 2025₦520.9b₦87.3b₦43.5b10.7x12x6x
Sun, 16 Feb 2025₦614.7b₦69.8b₦36.4b15.6x16.9x8.8x
Tue, 14 Jan 2025₦570.5b₦55.7b₦29.3b27.9x19.5x10.3x
Thu, 12 Dec 2024₦467.8b₦55.7b₦29.3b18.5x16x8.4x
Sat, 09 Nov 2024₦445.0b₦48.5b₦25.4b13.6x17.5x9.2x
Mon, 07 Oct 2024₦449.7b₦45.6b₦19.7b16x22.9x9.9x
Wed, 04 Sep 2024₦432.3b₦45.6b₦19.7b13.7x22x9.5x
Fri, 02 Aug 2024₦297.2b₦43.1b₦20.5b13.7x14.5x6.9x
Sun, 30 Jun 2024₦269.6b₦32.4b₦19.9b12.7x13.5x8.3x
Tue, 28 May 2024₦206.2b₦32.4b₦19.9b8.4x10.3x6.4x
Thu, 25 Apr 2024₦199.2b₦30.7b₦18.9b8.7x10.6x6.5x
Sat, 23 Mar 2024₦248.4b₦41.7b₦16.7b13.9x14.9x6x
Mon, 19 Feb 2024₦242.7b₦43.8b₦13.2b14.1x18.3x5.5x
Wed, 17 Jan 2024₦265.1b₦43.8b₦13.2b17.8x20x6x
Fri, 15 Dec 2023₦214.3b₦43.8b₦13.2b12.5x16.2x4.9x
Sun, 12 Nov 2023₦200.2b₦43.8b₦13.2b12.2x15.1x4.6x
Tue, 10 Oct 2023₦165.9b₦38.3b₦11.2b14.5x14.8x4.3x
Thu, 07 Sep 2023₦158.6b₦38.3b₦11.2b12.8x14.2x4.1x
Sat, 05 Aug 2023₦153.3b₦38.3b₦11.2b12.8x13.7x4x
Mon, 03 Jul 2023₦172.9b₦39.2b₦11.9b10.6x14.5x4.4x
Price to Earnings Ratio

14.5x


Total Market Cap: ₦172.9bTotal Earnings: ₦11.9bTotal Revenue: ₦39.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Capital Markets Industry Price to Earnings3Y Average 15.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Nigerian Capital Markets industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 15.1x.
  • The 3-year average PS ratio of 6.0x is higher than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 66% per year over the last three years.
  • Revenues for these companies have grown 65% 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 industry?

NG Market-2.99%
Financials-1.21%
Capital Markets-3.09%
Asset Management0.94%
Investment Banking and Brokerage-1.63%
Financial Exchanges and Data-6.50%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry even though it's trading below its 3-year average PE ratio of 29.1x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Investment Banking and Brokerage industry, which is trading below its 3-year average of 13.7x.
Forecasted GrowthThere is insufficient data on the sub-industries of this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
VFDGROUP VFD Group₦10.501.4%
+₦1.9b		-30.0%PE17.3x
AFRIPRUD Africa Prudential₦12.002.6%
+₦1.2b		-25.0%PE17.4x

Latest News

DEAPCAP
₦4.05
DEAP Capital Management & Trust
7D
-9.0%
1Y
278.5%
Narrative Update • Jun 23

Completion of Corporate Transformation and Strategic Repositioning into Africa’s Critical Minerals Finance Platform

Transaction Overview Author: Qudus Adebara (Research Analyst, DLM Securities) Formerly known as Deap Capital Management & Trust Plc (DEAPCAP) , the company has officially completed its corporate transformation and name change to Critical Minerals Financing Corp (CMFC) Plc , following the receipt of all required regulatory approvals and corporate filings. The rebranding marks a significant strategic shift from a traditional financial services institution to a specialized mining, metals, commodities finance, and investment platform focused on Nigeria and the broader African critical minerals sector.
UCAP
₦17.50
United Capital
7D
-2.2%
1Y
-8.1%
Narrative Update • Jun 16

United Capital Plc – Acquisition of 5% Equity Stake in Nigerian Exchange Group (NGX Plc)

Strategic Investment in Nigeria’s Capital Market Infrastructure Author: Qudus Adebara (Research Analyst, DLM Capital Group) United Capital Plc has announced the successful acquisition of a 5% equity stake in Nigerian Exchange Group Plc (NGX Group) , marking a significant strategic investment in Nigeria’s foremost capital market infrastructure institution. The transaction represents a key milestone in United Capital’s long-term growth strategy and further reinforces its commitment to supporting the development, efficiency, and sustainability of Nigeria’s financial markets.
NGXGROUP
₦115.00
Nigerian Exchange Group
7D
-6.5%
1Y
272.2%
Narrative Update • Jun 16

Nigerian Exchange Group (NGX Group) – Strategic Partnership Discussions with Abu Dhabi Securities Exchange (ADX)

Overview Author: Qudus Adebara (Research Analyst, DLM Capital Group) The Nigerian Exchange Group (NGX Group) and the Abu Dhabi Securities Exchange (ADX) are exploring a strategic partnership aimed at deepening cross-border capital market activities and attracting greater Middle Eastern investment flows into Africa. The proposed collaboration aligns with Nigeria’s broader objective of positioning its capital market as a gateway for international investors seeking exposure to high-growth opportunities across sectors such as energy, infrastructure, technology, manufacturing, and oil & gas.
VFDGROUP
₦10.50
VFD Group
7D
1.4%
1Y
-30.0%
AFRIPRUD
₦12.00
Africa Prudential
7D
2.6%
1Y
-25.0%
Narrative Update • May 21

Africa Prudential Plc Launches “Sabivest” Digital Investment Management Platform

Author: Qudus Adebara Africa Prudential Plc has launched Sabivest, a digital shareholder and investment management application designed to enhance investor access, improve portfolio visibility, and deepen participation within Nigeria’s capital market ecosystem. The platform, unveiled in Lagos, provides retail and institutional investors with a centralized digital solution for managing shareholdings, monitoring investment performance, and accessing multiple financial products through a single interface.