Nigerian (NSE) Industrials Sector Analysis

Sector Valuation and Performance

Has the Nigerian Industrials Sector valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 05 Jul 2026	₦1.2t	₦1.0t	₦64.7b	19.3x	19.2x	1.2x
Tue, 02 Jun 2026	₦1.3t	₦1.0t	₦65.0b	22.2x	20.7x	1.3x
Thu, 30 Apr 2026	₦1.3t	₦1.0t	₦65.5b	18.4x	20.1x	1.3x
Sat, 28 Mar 2026	₦1.2t	₦1.0t	₦68.5b	18.6x	17.6x	1.2x
Mon, 23 Feb 2026	₦1.2t	₦1.0t	₦68.7b	16.3x	17.1x	1.2x
Wed, 21 Jan 2026	₦764.6b	₦943.2b	₦53.4b	13.6x	14.3x	0.8x
Fri, 19 Dec 2025	₦661.6b	₦943.2b	₦52.7b	11.3x	12.6x	0.7x
Sun, 16 Nov 2025	₦659.9b	₦943.4b	₦52.8b	11.7x	12.5x	0.7x
Tue, 14 Oct 2025	₦668.3b	₦913.9b	₦45.8b	12.3x	14.6x	0.7x
Thu, 11 Sep 2025	₦670.9b	₦913.9b	₦45.9b	11.8x	14.6x	0.7x
Sat, 09 Aug 2025	₦648.6b	₦914.0b	₦46.1b	12x	14.1x	0.7x
Mon, 07 Jul 2025	₦562.0b	₦831.1b	₦40.8b	12.2x	13.8x	0.7x
Wed, 04 Jun 2025	₦504.6b	₦833.9b	₦39.6b	10.1x	12.7x	0.6x
Fri, 02 May 2025	₦491.1b	₦761.7b	₦40.5b	10.3x	12.1x	0.6x
Sun, 30 Mar 2025	₦489.9b	₦751.4b	₦41.0b	10x	12x	0.7x
Tue, 25 Feb 2025	₦471.8b	₦750.8b	₦40.9b	10x	11.5x	0.6x
Thu, 23 Jan 2025	₦443.9b	₦689.2b	₦37.2b	10x	11.9x	0.6x
Sat, 21 Dec 2024	₦446.7b	₦689.4b	₦37.1b	8.8x	12x	0.6x
Mon, 18 Nov 2024	₦455.2b	₦686.7b	₦37.0b	7.6x	12.3x	0.7x
Wed, 16 Oct 2024	₦429.7b	₦608.4b	₦32.4b	7.2x	13.3x	0.7x
Fri, 13 Sep 2024	₦394.7b	₦608.1b	₦32.4b	8.2x	12.2x	0.6x
Sun, 11 Aug 2024	₦348.7b	₦606.7b	₦32.1b	8.8x	10.8x	0.6x
Tue, 09 Jul 2024	₦299.6b	₦580.9b	₦32.6b	10.6x	9.2x	0.5x
Thu, 06 Jun 2024	₦276.8b	₦579.8b	₦32.0b	9.8x	8.6x	0.5x
Sat, 04 May 2024	₦273.7b	₦599.0b	₦30.5b	11x	9x	0.5x
Mon, 01 Apr 2024	₦254.8b	₦588.6b	₦21.2b	10.2x	12x	0.4x
Wed, 28 Feb 2024	₦235.6b	₦588.6b	₦21.2b	10.7x	11.1x	0.4x
Fri, 26 Jan 2024	₦253.9b	₦582.8b	₦20.1b	13.2x	12.6x	0.4x
Sun, 24 Dec 2023	₦196.9b	₦582.4b	₦20.2b	10.5x	9.8x	0.3x
Tue, 21 Nov 2023	₦188.8b	₦582.0b	₦20.1b	10.6x	9.4x	0.3x
Thu, 19 Oct 2023	₦188.8b	₦567.5b	₦19.2b	10.3x	9.8x	0.3x
Sat, 16 Sep 2023	₦182.7b	₦570.0b	₦19.1b	9.9x	9.6x	0.3x
Mon, 14 Aug 2023	₦170.0b	₦569.8b	₦19.1b	10.2x	8.9x	0.3x
Wed, 12 Jul 2023	₦150.1b	₦546.8b	₦11.8b	11.8x	12.7x	0.3x

Current Industry PE

Investors are optimistic on the Nigerian Industrials industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 19.2x which is higher than its 3-year average PE of 12.8x.

The 3-year average PS ratio of 0.65x is lower than the industry's current PS ratio of 1.2x.

Past Earnings Growth

The earnings for companies in the Industrials industry have grown 76% per year over the last three years.
Revenues for these companies have grown 23% 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 Industrials sector?


NG Market	-4.18%
Industrials	-0.16%
Trade Distributors	1.90%
Electrical	1.23%
Construction	0%	0
Industrials	0%	0
Machinery	0%	0
Airlines	0%	0
Transportation	0%	0
Infrastructure	0%	0
Logistics	-0.64%
Commercial Services	-9.65%

Industry PE

Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 65.5x.

It looks like they are confident that earnings will grow faster in the future than they have historically.

Investors are most pessimistic about the Trade Distributors industry, which is trading below its 3-year average of 10.4x.

Forecasted GrowthThere is insufficient data on the sub-industries of this industry.

Company	Last Price	7D	1Y	Valuation
CUTIX Cutix	₦2.80	4.5% +₦845.4m	-30.0%	PS1.3x
CILEASING C & I Leasing	₦5.35	1.9% +₦294.9m	-2.2%	PE6.3x
AUSTINLAZ Austin Laz	₦3.63	3.1% +₦115.3m	61.3%	PS364.7x

Company

Last Price

Valuation

CUTIX Cutix

₦2.80

4.5%
+₦845.4m

-30.0%

PS1.3x

CILEASING C & I Leasing

₦5.35

1.9%
+₦294.9m

-2.2%

PE6.3x

AUSTINLAZ Austin Laz

₦3.63

3.1%
+₦115.3m

61.3%

PS364.7x

New major risk - Revenue and earnings growth

Earnings have declined by 1.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 315% Paying a dividend despite having no free cash flows. Earnings have declined by 1.7% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₦21.1b market cap, or US$15.4m).

Nigerian (NSE) Industrials Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Investor sentiment deteriorates as stock falls 16%

Investor sentiment deteriorates as stock falls 17%

Austin Laz & Company Plc – Shareholders Approve ₦2.1 Billion Private Placement to Fund Strategic Repositioning and Expansion

New major risk - Revenue and earnings growth

Upcoming dividend of ₦0.20 per share

No independent directors