Nigerian (NSE) Materials Sector Analysis

UpdatedMay 14, 2026

DataAggregated Company Financials

Companies12

7D6.8%
3M84.3%
1Y248.4%
YTD116.6%

The Materials industry is up 6.8% in the last week, with Dangote Cement up 13%. This means that the industry has gained 248% over the past year. Looking forward, earnings are forecast to grow by 10% annually.

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
Thu, 14 May 2026	₦40.6t	₦7.0t	₦1.9t	25.4x	21.6x	5.8x
Sat, 11 Apr 2026	₦28.8t	₦6.8t	₦1.7t	14.9x	17.2x	4.3x
Mon, 09 Mar 2026	₦25.1t	₦6.8t	₦1.7t	13.6x	15x	3.7x
Wed, 04 Feb 2026	₦19.9t	₦6.5t	₦1.6t	12.6x	12.7x	3x
Fri, 02 Jan 2026	₦18.7t	₦6.5t	₦1.6t	10.7x	12x	2.9x
Sun, 30 Nov 2025	₦16.9t	₦6.5t	₦1.6t	9.4x	10.8x	2.6x
Tue, 28 Oct 2025	₦20.0t	₦6.2t	₦1.3t	13.3x	15x	3.2x
Thu, 25 Sep 2025	₦16.2t	₦6.1t	₦1.3t	12.6x	12.6x	2.6x
Sat, 23 Aug 2025	₦16.4t	₦6.1t	₦1.3t	10.7x	12.8x	2.7x
Mon, 21 Jul 2025	₦14.6t	₦5.8t	₦900.7b	15.4x	16.2x	2.5x
Wed, 18 Jun 2025	₦12.3t	₦5.8t	₦709.5b	10.2x	17.3x	2.1x
Fri, 16 May 2025	₦11.9t	₦5.8t	₦710.2b	10.8x	16.8x	2.1x
Sun, 13 Apr 2025	₦12.3t	₦5.3t	₦501.0b	11.5x	24.6x	2.3x
Tue, 11 Mar 2025	₦12.8t	₦5.3t	₦501.7b	11.1x	25.5x	2.4x
Thu, 06 Feb 2025	₦11.3t	₦4.7t	₦395.3b	12.4x	28.5x	2.4x
Sat, 04 Jan 2025	₦12.4t	₦4.7t	₦581.5b	14.5x	21.4x	2.6x
Mon, 02 Dec 2024	₦12.3t	₦4.7t	₦581.5b	11.9x	21.1x	2.6x
Wed, 30 Oct 2024	₦12.0t	₦4.6t	₦551.9b	13.6x	21.8x	2.6x
Fri, 27 Sep 2024	₦13.4t	₦4.3t	₦556.1b	12.2x	24.2x	3.2x
Sun, 25 Aug 2024	₦13.5t	₦4.3t	₦556.1b	13.2x	24.2x	3.2x
Tue, 23 Jul 2024	₦16.5t	₦3.7t	₦562.5b	13.2x	29.4x	4.5x
Thu, 20 Jun 2024	₦16.5t	₦3.7t	₦562.5b	14x	29.4x	4.5x
Sat, 18 May 2024	₦16.6t	₦3.7t	₦448.3b	12.2x	37x	4.4x
Mon, 15 Apr 2024	₦17.1t	₦3.2t	₦462.4b	11.7x	36.9x	5.3x
Wed, 13 Mar 2024	₦16.9t	₦3.2t	₦576.6b	11.7x	29.3x	5.3x
Fri, 09 Feb 2024	₦19.1t	₦2.9t	₦599.3b	13.2x	31.9x	6.6x
Sun, 07 Jan 2024	₦9.6t	₦2.9t	₦551.3b	11x	17.5x	3.3x
Tue, 05 Dec 2023	₦9.5t	₦2.9t	₦551.3b	9.1x	17.3x	3.3x
Thu, 02 Nov 2023	₦9.7t	₦2.9t	₦554.8b	8.3x	17.5x	3.4x
Sat, 30 Sep 2023	₦9.2t	₦2.6t	₦497.5b	8.4x	18.4x	3.5x
Mon, 28 Aug 2023	₦9.9t	₦2.6t	₦497.5b	7.3x	19.9x	3.8x
Wed, 26 Jul 2023	₦9.9t	₦2.5t	₦518.5b	8.8x	19.1x	4x
Fri, 23 Jun 2023	₦8.5t	₦2.5t	₦518.5b	9.2x	16.4x	3.4x
Sun, 21 May 2023	₦8.2t	₦2.5t	₦528.0b	8x	15.4x	3.3x

Price to Earnings Ratio

15.4x

Sun, 21 May 2023

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 20.6x.

The 3-year average PS ratio of 3.4x is lower than the industry's current PS ratio of 5.8x.

Past Earnings Growth

The earnings for companies in the Materials industry have grown 53% 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	4.58%
Materials	6.78%
Chemicals	21.23%
Basic Materials	6.76%
Packaging	0%	0
Paper and Forestry Products	0%	0
Metals and Mining	-0.84%

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 78.3x.

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 10% over the next 5 years.

In contrast, the Basic Materials industry is expected to see its earnings grow by 10% per year over the next few years.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation
DANGCEM Dangote Cement	₦1.18k	13.5% +₦2.3t	168.2%	PE17.7x
WAPCO Lafarge Africa	₦339.00	4.6% +₦241.6b	333.2%	PE20x
BUACEMENT BUA Cement	₦435.00	1.4% +₦206.6b	419.7%	PE32.6x
CAP Chemical and Allied Products	₦233.70	21.0% +₦33.0b	484.3%	PE30.8x
BERGER Berger Paints Nigeria	₦154.00	55.9% +₦16.0b	617.9%	PE26x