Nigerian (NSE) Materials Sector Analysis

Sector Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 07 Jun 2026	₦38.5t	₦7.1t	₦1.9t	23.3x	19.9x	5.4x
Tue, 05 May 2026	₦37.0t	₦6.8t	₦1.8t	20.3x	20.9x	5.4x
Thu, 02 Apr 2026	₦28.6t	₦6.8t	₦1.7t	13.7x	17.1x	4.2x
Sat, 28 Feb 2026	₦24.1t	₦6.6t	₦1.6t	14.5x	15.2x	3.6x
Mon, 26 Jan 2026	₦19.7t	₦6.5t	₦1.6t	13.4x	12.7x	3x
Wed, 24 Dec 2025	₦18.6t	₦6.5t	₦1.6t	10.7x	11.9x	2.8x
Fri, 21 Nov 2025	₦17.1t	₦6.5t	₦1.6t	9.4x	11x	2.6x
Sun, 19 Oct 2025	₦18.0t	₦6.1t	₦1.3t	12.5x	14.1x	2.9x
Tue, 16 Sep 2025	₦16.2t	₦6.1t	₦1.3t	11.2x	12.6x	2.6x
Thu, 14 Aug 2025	₦17.9t	₦6.1t	₦1.3t	11.7x	14x	2.9x
Sat, 12 Jul 2025	₦12.1t	₦5.8t	₦900.7b	13.6x	13.5x	2.1x
Mon, 09 Jun 2025	₦12.2t	₦5.8t	₦709.5b	9.6x	17.2x	2.1x
Wed, 07 May 2025	₦11.8t	₦5.8t	₦701.7b	9.3x	16.8x	2.1x
Fri, 04 Apr 2025	₦12.4t	₦5.3t	₦501.5b	10.2x	24.6x	2.3x
Sun, 02 Mar 2025	₦12.8t	₦4.8t	₦423.6b	11.2x	30.2x	2.6x
Tue, 28 Jan 2025	₦11.1t	₦4.7t	₦581.6b	13.9x	19.1x	2.4x
Thu, 26 Dec 2024	₦12.4t	₦4.7t	₦581.5b	13.1x	21.3x	2.6x
Sat, 23 Nov 2024	₦12.2t	₦4.7t	₦581.5b	11.4x	21x	2.6x
Mon, 21 Oct 2024	₦12.4t	₦4.3t	₦556.1b	13.5x	22.4x	2.9x
Wed, 18 Sep 2024	₦13.5t	₦4.3t	₦556.0b	13.2x	24.2x	3.2x
Fri, 16 Aug 2024	₦14.3t	₦4.3t	₦556.1b	13.2x	25.7x	3.4x
Sun, 14 Jul 2024	₦16.5t	₦3.7t	₦562.5b	14.1x	29.4x	4.5x
Tue, 11 Jun 2024	₦16.5t	₦3.7t	₦562.5b	12.9x	29.3x	4.4x
Thu, 09 May 2024	₦16.6t	₦3.7t	₦448.3b	12.3x	37x	4.4x
Sat, 06 Apr 2024	₦17.0t	₦3.2t	₦576.6b	11.7x	29.5x	5.3x
Mon, 04 Mar 2024	₦16.7t	₦3.2t	₦573.5b	11.7x	29.1x	5.3x
Wed, 31 Jan 2024	₦19.8t	₦2.9t	₦599.4b	13.4x	33.1x	6.9x
Fri, 29 Dec 2023	₦9.2t	₦2.9t	₦551.3b	10x	16.7x	3.2x
Sun, 26 Nov 2023	₦9.7t	₦2.9t	₦551.3b	9.1x	17.5x	3.3x
Tue, 24 Oct 2023	₦9.5t	₦2.6t	₦497.5b	8.4x	19x	3.6x
Thu, 21 Sep 2023	₦10.0t	₦2.6t	₦497.5b	8.4x	20.2x	3.8x
Sat, 19 Aug 2023	₦9.8t	₦2.6t	₦497.5b	7.2x	19.6x	3.7x
Mon, 17 Jul 2023	₦9.6t	₦2.5t	₦518.5b	8.8x	18.5x	3.9x
Wed, 14 Jun 2023	₦8.6t	₦2.5t	₦528.0b	8.9x	16.2x	3.4x

Current Industry PE

Investors are relatively neutral on the Nigerian Materials 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 20.7x.

The 3-year average PS ratio of 3.5x is lower than the industry's current PS ratio of 5.4x.

Past Earnings Growth

The earnings for companies in the Materials industry have grown 54% per year over the last three years.
Revenues for these companies have grown 42% 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 Materials sector?


NG Market	-3.56%
Materials	-4.05%
Metals and Mining	0%	0
Paper and Forestry Products	0%	0
Packaging	-1.26%
Chemicals	-1.55%
Basic Materials	-4.09%

Industry PE

Investors are most optimistic about the Metals and Mining industry even though it's trading below its 3-year average PE ratio of 78.8x.

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

Forecasted Growth

Analysts are most optimistic on the Basic Materials industry, expecting annual earnings growth of 14% over the next 5 years.
However this is lower than its past earnings growth rate of 125% per year.

In contrast, the Basic Materials industry is expected to see its earnings grow by 14% per year over the next few years.

	Company	Last Price	7D	1Y	Valuation
No data available

Company

Last Price

Valuation

No data available

New major risk - Shareholder dilution

The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (56% accrual ratio). Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₦27.9b market cap, or US$20.3m).

Nigerian (NSE) Materials Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

BUA Cement Plc – Accelerates Expansion Strategy to Reach 23 Million Tonnes Annual Capacity

Price target increased by 17% to ₦251

Upcoming dividend of ₦7.20 per share

New major risk - Shareholder dilution

Upcoming dividend of ₦4.00 per share