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Nigerian (NSE) Materials Sector Analysis

UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies13
  • 7D1.9%
  • 3M2.5%
  • 1Y82.5%
  • YTD7.3%

In the last week, the Materials industry is flat overall, with Beta Glass standing out by going down 5.3%. As for the the longer term, the industry is up 81% over the past 12 months. Looking forward, earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Feb 2026₦20.1t₦6.5t₦1.6t13.9x12.9x3.1x
Sat, 03 Jan 2026₦18.7t₦6.5t₦1.6t10.7x12x2.9x
Mon, 01 Dec 2025₦16.9t₦6.5t₦1.6t9.4x10.8x2.6x
Wed, 29 Oct 2025₦19.9t₦6.5t₦1.6t11.7x12.8x3x
Fri, 26 Sep 2025₦16.2t₦6.1t₦1.3t12.5x12.6x2.6x
Sun, 24 Aug 2025₦16.4t₦6.1t₦1.3t10.7x12.8x2.7x
Tue, 22 Jul 2025₦14.6t₦5.8t₦900.7b14.4x16.2x2.5x
Thu, 19 Jun 2025₦12.3t₦5.8t₦709.5b10.2x17.3x2.1x
Sat, 17 May 2025₦12.0t₦5.8t₦710.2b10.8x16.8x2.1x
Mon, 14 Apr 2025₦12.3t₦5.3t₦501.0b11.5x24.6x2.3x
Wed, 12 Mar 2025₦12.8t₦5.3t₦501.7b11.1x25.5x2.4x
Fri, 07 Feb 2025₦11.3t₦4.7t₦395.3b12.4x28.5x2.4x
Sun, 05 Jan 2025₦12.4t₦4.7t₦581.5b14.5x21.4x2.6x
Tue, 03 Dec 2024₦12.4t₦4.7t₦581.5b12.5x21.3x2.6x
Thu, 31 Oct 2024₦12.1t₦4.7t₦578.8b12.8x20.8x2.6x
Sat, 28 Sep 2024₦13.4t₦4.3t₦556.1b12.8x24.2x3.2x
Mon, 26 Aug 2024₦13.5t₦4.3t₦556.1b13.2x24.2x3.2x
Wed, 24 Jul 2024₦16.5t₦3.7t₦562.5b13.2x29.4x4.5x
Fri, 21 Jun 2024₦16.5t₦3.7t₦562.5b14x29.4x4.5x
Sun, 19 May 2024₦16.6t₦3.7t₦448.3b12.2x37x4.4x
Tue, 16 Apr 2024₦17.1t₦3.2t₦462.4b11.7x36.9x5.3x
Thu, 14 Mar 2024₦16.9t₦3.2t₦576.6b11.7x29.3x5.3x
Sat, 10 Feb 2024₦19.1t₦2.9t₦599.3b14.5x31.9x6.6x
Mon, 08 Jan 2024₦9.6t₦2.9t₦551.3b11x17.5x3.3x
Wed, 06 Dec 2023₦9.3t₦2.9t₦551.3b9.1x16.9x3.2x
Fri, 03 Nov 2023₦9.7t₦2.9t₦551.1b8.3x17.5x3.3x
Sun, 01 Oct 2023₦9.3t₦2.6t₦497.5b8.4x18.7x3.5x
Tue, 29 Aug 2023₦9.9t₦2.6t₦497.5b7.3x19.9x3.8x
Thu, 27 Jul 2023₦9.9t₦2.5t₦518.5b8.8x19.1x4x
Sat, 24 Jun 2023₦8.5t₦2.5t₦518.5b9.1x16.4x3.4x
Mon, 22 May 2023₦8.2t₦2.5t₦528.0b8x15.4x3.3x
Wed, 19 Apr 2023₦8.4t₦2.5t₦531.9b7.1x15.8x3.4x
Fri, 17 Mar 2023₦8.8t₦2.5t₦522.5b7.7x16.8x3.5x
Sun, 12 Feb 2023₦8.5t₦2.3t₦440.1b8.3x19.3x3.6x
Price to Earnings Ratio

19.3x


Total Market Cap: ₦8.5tTotal Earnings: ₦440.1bTotal Revenue: ₦2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Materials Sector Price to Earnings3Y Average 20.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Nigerian Materials 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 12.7x which is lower than its 3-year average PE of 20.6x.
  • The industry is trading close to its 3-year average PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have grown 52% per year over the last three years.
  • Revenues for these companies have grown 41% 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 Market2.05%
Materials1.87%
Chemicals3.57%
Basic Materials1.95%
Paper and Forestry Products0%0
Metals and Mining-0.67%
Packaging-5.30%
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 75.8x.
    • 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 15% over the next 5 years.
  • In contrast, the Basic Materials industry is expected to see its earnings grow by 15% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
DANGCEM Dangote Cement₦649.902.3%
+₦249.6b		64.9%PE11.4x
WAPCO Lafarge Africa₦165.005.1%
+₦128.9b		133.5%PE10.7x
BERGER Berger Paints Nigeria₦66.0012.1%
+₦2.1b		214.3%PE13.9x
CAP Chemical and Allied Products₦82.003.1%
+₦2.0b		74.5%PE10.9x
UNIONDICON Union Dicon Salt₦10.8511.9%
+₦314.3m		44.7%PS217.6x

Latest News

MULTIVERSE
₦28.00
Multiverse Mining and Exploration
7D
-0.9%
1Y
178.6%
CAP
₦82.00
Chemical and Allied Products
7D
3.1%
1Y
74.5%
BETAGLAS
₦397.70
Beta Glass
7D
-5.3%
1Y
359.8%
PREMPAINTS
₦11.00
Premier Paints
7D
10.0%
1Y
10.0%
IMG
₦34.65
Industrial and Medical Gases Nigeria
7D
-0.6%
1Y
0.3%
BERGER
₦66.00
Berger Paints Nigeria
7D
12.1%
1Y
214.3%
WAPCO
₦165.00
Lafarge Africa
7D
5.1%
1Y
133.5%
DANGCEM
₦649.90
Dangote Cement
7D
2.3%
1Y
64.9%

DANGCEM: Stable Assumptions And 2025 Board Review Will Guide Outlook

Analysts have held their fair value estimate for Dangote Cement broadly steady at about ₦654.06 per share, explaining that only very small technical tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E justify keeping the target effectively unchanged. What's in the News The board plans to meet on Feb 26, 2026 to review various matters, including the audited financial statements for the year ending Dec 31, 2025.
UNIONDICON
₦10.85
Union Dicon Salt
7D
11.9%
1Y
44.7%