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
Fri, 08 May 2026	₦1.3t	₦1.0t	₦64.5b	21.3x	19.9x	1.3x
Sun, 05 Apr 2026	₦1.2t	₦1.0t	₦68.5b	17.7x	18.1x	1.2x
Tue, 03 Mar 2026	₦1.2t	₦1.0t	₦69.0b	17.6x	17.5x	1.2x
Thu, 29 Jan 2026	₦852.9b	₦943.2b	₦53.4b	13.6x	16x	0.9x
Sat, 27 Dec 2025	₦673.1b	₦943.2b	₦52.7b	11.6x	12.8x	0.7x
Mon, 24 Nov 2025	₦650.7b	₦943.4b	₦52.8b	11.3x	12.3x	0.7x
Wed, 22 Oct 2025	₦693.7b	₦913.9b	₦45.8b	12.5x	15.1x	0.8x
Fri, 19 Sep 2025	₦685.0b	₦913.9b	₦45.9b	12.3x	14.9x	0.7x
Sun, 17 Aug 2025	₦682.1b	₦914.0b	₦46.1b	11.7x	14.8x	0.7x
Tue, 15 Jul 2025	₦598.4b	₦854.2b	₦38.8b	14.8x	15.4x	0.7x
Thu, 12 Jun 2025	₦502.6b	₦833.8b	₦40.3b	10.1x	12.5x	0.6x
Sat, 10 May 2025	₦529.6b	₦832.8b	₦39.4b	9.1x	13.4x	0.6x
Mon, 07 Apr 2025	₦479.9b	₦751.9b	₦40.4b	10.2x	11.9x	0.6x
Wed, 05 Mar 2025	₦461.6b	₦751.4b	₦41.0b	9.7x	11.3x	0.6x
Fri, 31 Jan 2025	₦448.2b	₦689.8b	₦37.3b	9.7x	12x	0.6x
Sun, 29 Dec 2024	₦455.3b	₦689.4b	₦37.1b	9.7x	12.3x	0.7x
Tue, 26 Nov 2024	₦461.0b	₦686.7b	₦37.0b	7.7x	12.5x	0.7x
Thu, 24 Oct 2024	₦429.8b	₦608.7b	₦32.5b	7.2x	13.2x	0.7x
Sat, 21 Sep 2024	₦393.3b	₦608.1b	₦32.4b	8.5x	12.1x	0.6x
Mon, 19 Aug 2024	₦374.1b	₦606.7b	₦32.1b	8.2x	11.6x	0.6x
Wed, 17 Jul 2024	₦296.7b	₦580.9b	₦32.6b	11x	9.1x	0.5x
Fri, 14 Jun 2024	₦290.7b	₦580.7b	₦32.1b	10.7x	9.1x	0.5x
Sun, 12 May 2024	₦269.3b	₦598.6b	₦30.7b	11.4x	8.8x	0.4x
Tue, 09 Apr 2024	₦246.7b	₦586.6b	₦21.0b	10.5x	11.8x	0.4x
Thu, 07 Mar 2024	₦238.6b	₦588.6b	₦21.2b	10.7x	11.3x	0.4x
Sat, 03 Feb 2024	₦244.8b	₦588.0b	₦21.0b	11.4x	11.6x	0.4x
Mon, 01 Jan 2024	₦206.0b	₦582.4b	₦20.2b	10.5x	10.2x	0.4x
Wed, 29 Nov 2023	₦188.0b	₦582.0b	₦20.1b	10.5x	9.4x	0.3x
Fri, 27 Oct 2023	₦188.4b	₦567.4b	₦19.2b	10.5x	9.8x	0.3x
Sun, 24 Sep 2023	₦181.2b	₦569.9b	₦19.2b	10.4x	9.4x	0.3x
Tue, 22 Aug 2023	₦171.1b	₦569.8b	₦19.1b	9.7x	8.9x	0.3x
Thu, 20 Jul 2023	₦148.3b	₦546.7b	₦11.6b	11.1x	12.8x	0.3x
Sat, 17 Jun 2023	₦133.8b	₦546.8b	₦11.7b	10.9x	11.4x	0.2x
Mon, 15 May 2023	₦125.0b	₦547.0b	₦11.8b	8.9x	10.6x	0.2x

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 19.9x which is higher than its 3-year average PE of 12.3x.

The 3-year average PS ratio of 0.59x is lower than the industry's current PS ratio of 1.3x.

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	0.96%
Industrials	-0.052%
Trade Distributors	29.66%
Industrials	10.51%
Commercial Services	8.71%
Electrical	0.57%
Construction	0%	0
Machinery	0%	0
Logistics	0%	0
Airlines	0%	0
Transportation	-0.19%
Infrastructure	-1.66%

Industry PE

Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 33.5x.

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

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?

Company	Last Price	7D	1Y	Valuation
TIP Initiates	₦36.85	20.4% +₦5.6b	451.6%	PE7.8x
CILEASING C & I Leasing	₦7.00	8.5% +₦1.6b	69.9%	PE8.3x
JOHNHOLT John Holt	₦17.50	26.4% +₦1.4b	201.7%	PS4.6x
ABCTRANS ABC Transport	₦5.70	9.6% +₦1.2b	99.3%	PE14x
CUTIX Cutix	₦3.20	4.6% +₦986.3m	28.0%	PE100.8x

New major risk - Market cap size

The company's market capitalization is less than US$10m. Market cap: ₦13.6b (US$9.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₦13.6b market cap, or US$9.93m). Minor Risks High level of debt (59% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.

Nigerian (NSE) Industrials Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Less than half of directors are independent

Dividend increased to ₦1.20

The Initiates Plc Delivers Exceptional FY 2025 Earnings Growth Driven by Revenue Expansion and Associate Contributions

First quarter 2026 earnings released: EPS: ₦0.13 (vs ₦0.14 in 1Q 2025)

Second quarter 2026 earnings released: EPS: ₦0.056 (vs ₦1.37 in 2Q 2025)

New minor risk - Share price stability

New major risk - Market cap size

Third quarter 2026 earnings released