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Nigerian (NSE) Materials Sector Analysis

UpdatedMar 11, 2026
DataAggregated Company Financials
Companies13
  • 7D0.5%
  • 3M35.8%
  • 1Y99.1%
  • YTD33.0%

Over the last 7 days, the Materials industry has remained flat, although notably Lafarge Africa declined by 4.8%. The past year has been better, since the industry has gained 99% in that time. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Mar 2026₦24.9t₦6.8t₦1.7t13.6x14.9x3.7x
Fri, 06 Feb 2026₦20.3t₦6.5t₦1.6t13.5x13x3.1x
Sun, 04 Jan 2026₦18.7t₦6.5t₦1.6t10.7x12x2.9x
Tue, 02 Dec 2025₦16.8t₦6.5t₦1.6t9.4x10.8x2.6x
Thu, 30 Oct 2025₦19.6t₦6.5t₦1.6t11.7x12.7x3x
Sat, 27 Sep 2025₦16.4t₦6.1t₦1.3t12.5x12.8x2.7x
Mon, 25 Aug 2025₦16.4t₦6.1t₦1.3t10.7x12.8x2.7x
Wed, 23 Jul 2025₦15.1t₦5.9t₦960.5b14.6x15.7x2.6x
Fri, 20 Jun 2025₦12.3t₦5.8t₦709.5b10.2x17.3x2.1x
Sun, 18 May 2025₦12.0t₦5.8t₦710.2b10.8x16.8x2.1x
Tue, 15 Apr 2025₦12.3t₦5.3t₦501.0b11.5x24.6x2.3x
Thu, 13 Mar 2025₦12.8t₦5.3t₦501.7b11.1x25.5x2.4x
Sat, 08 Feb 2025₦11.3t₦4.7t₦395.3b12.2x28.7x2.4x
Mon, 06 Jan 2025₦12.4t₦4.7t₦581.5b14.5x21.4x2.6x
Wed, 04 Dec 2024₦12.5t₦4.7t₦581.5b13.3x21.4x2.6x
Fri, 01 Nov 2024₦12.1t₦4.7t₦578.6b12.8x20.8x2.6x
Sun, 29 Sep 2024₦13.4t₦4.3t₦556.1b12.8x24.2x3.2x
Tue, 27 Aug 2024₦13.5t₦4.3t₦556.1b13.2x24.2x3.2x
Thu, 25 Jul 2024₦16.5t₦3.7t₦562.1b13.2x29.4x4.5x
Sat, 22 Jun 2024₦16.5t₦3.7t₦562.5b14.3x29.4x4.5x
Mon, 20 May 2024₦16.6t₦3.7t₦448.3b12.2x37x4.4x
Wed, 17 Apr 2024₦17.1t₦3.2t₦462.4b11.7x36.9x5.3x
Fri, 15 Mar 2024₦16.9t₦3.2t₦576.6b11.7x29.4x5.3x
Sun, 11 Feb 2024₦19.1t₦2.9t₦599.3b14.5x31.9x6.6x
Tue, 09 Jan 2024₦9.7t₦2.9t₦551.3b11.4x17.6x3.4x
Thu, 07 Dec 2023₦9.3t₦2.9t₦551.3b9.1x16.9x3.2x
Sat, 04 Nov 2023₦9.5t₦2.9t₦551.1b8.3x17.3x3.3x
Mon, 02 Oct 2023₦9.3t₦2.6t₦497.5b8.4x18.7x3.5x
Wed, 30 Aug 2023₦9.9t₦2.6t₦497.5b8.4x19.9x3.8x
Fri, 28 Jul 2023₦9.9t₦2.5t₦518.5b8.8x19.1x4x
Sun, 25 Jun 2023₦8.5t₦2.5t₦518.5b9.1x16.4x3.4x
Tue, 23 May 2023₦8.2t₦2.5t₦528.0b8x15.4x3.3x
Thu, 20 Apr 2023₦8.4t₦2.5t₦531.9b7x15.8x3.4x
Sat, 18 Mar 2023₦8.8t₦2.5t₦522.5b7.5x16.8x3.5x
Price to Earnings Ratio

16.8x


Total Market Cap: ₦8.8tTotal Earnings: ₦522.5bTotal Revenue: ₦2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Materials Sector Price to Earnings3Y Average 20.5x202420252026
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 14.9x which is lower than its 3-year average PE of 20.5x.
  • 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 47% per year over the last three years.
  • Revenues for these companies have grown 40% 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-0.42%
Materials0.49%
Basic Materials0.52%
Packaging0%0
Paper and Forestry Products0%0
Chemicals-3.11%
Metals and Mining-16.45%
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 76.8x.
    • 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
BUACEMENT BUA Cement₦225.002.7%
+₦203.2b		141.9%PE21.4x
DANGCEM Dangote Cement₦815.000.6%
+₦85.4b		69.8%PE13.6x
PREMPAINTS Premier Paints₦17.6560.5%
+₦818.0m		76.5%PE1005.5x

Latest News

DANGCEM
₦815.00
Dangote Cement
7D
0.6%
1Y
69.8%

DANGCEM: Lower Future P/E Assumptions Will Pressure Overstretched Share Price

Analysts have modestly trimmed their price target for Dangote Cement to NGN 641.25, reflecting slightly lower assumptions for revenue growth, profit margins, the discount rate and future P/E. What's in the News Dangote Cement Plc announced an annual dividend of NGN 45.00 per share, with a record date of June 17, 2026, an ex dividend date of June 18, 2026, and a payment date of July 2, 2026 (Key Developments).
BUACEMENT
₦225.00
BUA Cement
7D
2.7%
1Y
141.9%

BUACEMENT: Unchanged Fair Value Will Likely Keep Rich Earnings Multiple Under Pressure

Analysts have kept their NGN149.69 price target for BUA Cement unchanged, citing only marginal tweaks to inputs such as a slightly lower discount rate, modestly adjusted revenue growth assumptions, a firmer profit margin outlook and a small revision to the future P/E multiple. What's in the News BUA Cement Plc announced an annual dividend of NGN 10.0000 per share, with payment scheduled for May 21, 2026, an ex-dividend date of May 11, 2026, and a record date of May 8, 2026 (Key Developments).
BERGER
₦66.65
Berger Paints Nigeria
7D
-9.9%
1Y
218.9%
CAP
₦92.25
Chemical and Allied Products
7D
-2.1%
1Y
96.3%
PREMPAINTS
₦17.65
Premier Paints
7D
60.5%
1Y
76.5%
ALEX
₦13.95
Aluminium Extrusion Industries
7D
-10.0%
1Y
95.1%
WAPCO
₦200.00
Lafarge Africa
7D
-4.8%
1Y
170.3%

Lafarge Africa Plc Q3 – Strong Momentum Sustained into Q3 2025 as Profit Soars 246% YoY

Lafarge Africa Plc (Lafarge) reported an outstanding Q3 and 9M 2025 performance, sustaining its growth trajectory with significant year-on-year improvements across all key profitability metrics. The Group delivered robust topline expansion and margin improvement, underscoring its operational discipline, improved plant reliability, and cost optimization.
MULTIVERSE
₦18.45
Multiverse Mining and Exploration
7D
-18.7%
1Y
109.7%
UNIONDICON
₦14.80
Union Dicon Salt
7D
-10.8%
1Y
205.2%