Nigerian (NSE) Materials Sector Analysis

UpdatedSep 12, 2026

DataAggregated Company Financials

Companies12

7D-3.4%
3M-14.1%
1Y102.0%
YTD74.2%

Over the last 7 days, the Materials industry has dropped 4.0%, driven by declines from every company within the industry. This takes the industry's 12 month performance to a gain of 99%. Looking forward, earnings are forecast to grow by 25% 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
Sat, 12 Sep 2026	₦32.7t	₦7.5t	₦2.0t	16x	16.2x	4.3x
Mon, 10 Aug 2026	₦34.3t	₦7.5t	₦2.0t	21.4x	17x	4.6x
Wed, 08 Jul 2026	₦34.4t	₦7.1t	₦1.9t	21.1x	17.8x	4.8x
Fri, 05 Jun 2026	₦38.3t	₦7.1t	₦1.9t	23.3x	19.8x	5.4x
Sun, 03 May 2026	₦36.6t	₦6.8t	₦1.8t	19.6x	20.7x	5.4x
Tue, 31 Mar 2026	₦28.7t	₦6.8t	₦1.7t	13.5x	17.1x	4.2x
Thu, 26 Feb 2026	₦25.1t	₦6.5t	₦1.6t	14.5x	16.1x	3.8x
Sat, 24 Jan 2026	₦19.7t	₦6.5t	₦1.6t	13.4x	12.7x	3x
Mon, 22 Dec 2025	₦18.4t	₦6.5t	₦1.6t	10.7x	11.8x	2.8x
Wed, 19 Nov 2025	₦17.1t	₦6.5t	₦1.6t	9.4x	11x	2.6x
Fri, 17 Oct 2025	₦18.0t	₦6.1t	₦1.3t	12.5x	14x	2.9x
Sun, 14 Sep 2025	₦16.2t	₦6.1t	₦1.3t	10.4x	12.6x	2.6x
Tue, 12 Aug 2025	₦17.9t	₦6.1t	₦1.3t	11.7x	14x	2.9x
Thu, 10 Jul 2025	₦12.1t	₦5.8t	₦900.7b	12.8x	13.5x	2.1x
Sat, 07 Jun 2025	₦12.2t	₦5.8t	₦709.5b	9.6x	17.2x	2.1x
Mon, 05 May 2025	₦11.8t	₦5.8t	₦701.7b	9.7x	16.8x	2x
Wed, 02 Apr 2025	₦12.4t	₦5.3t	₦501.7b	10.2x	24.7x	2.3x
Fri, 28 Feb 2025	₦12.8t	₦4.7t	₦395.3b	12.8x	32.3x	2.7x
Sun, 26 Jan 2025	₦11.1t	₦4.7t	₦581.5b	14.1x	19.1x	2.4x
Tue, 24 Dec 2024	₦12.4t	₦4.7t	₦581.5b	13x	21.3x	2.6x
Thu, 21 Nov 2024	₦12.2t	₦4.7t	₦581.5b	11.6x	21x	2.6x
Sat, 19 Oct 2024	₦12.4t	₦4.3t	₦556.1b	13.5x	22.4x	2.9x
Mon, 16 Sep 2024	₦13.5t	₦4.3t	₦556.1b	13.3x	24.2x	3.2x
Wed, 14 Aug 2024	₦14.3t	₦4.3t	₦556.1b	13.2x	25.7x	3.4x
Fri, 12 Jul 2024	₦16.5t	₦3.7t	₦562.5b	14.4x	29.4x	4.5x
Sun, 09 Jun 2024	₦16.5t	₦3.7t	₦562.5b	13.2x	29.3x	4.4x
Tue, 07 May 2024	₦16.6t	₦3.7t	₦448.3b	12.3x	37x	4.5x
Thu, 04 Apr 2024	₦17.0t	₦3.2t	₦576.6b	11.7x	29.5x	5.4x
Sat, 02 Mar 2024	₦16.7t	₦2.9t	₦568.7b	11.7x	29.3x	5.7x
Mon, 29 Jan 2024	₦18.6t	₦2.9t	₦551.3b	12.9x	33.7x	6.4x
Wed, 27 Dec 2023	₦9.3t	₦2.9t	₦551.3b	9.4x	16.9x	3.2x
Fri, 24 Nov 2023	₦9.7t	₦2.9t	₦551.3b	8.8x	17.5x	3.3x
Sun, 22 Oct 2023	₦9.5t	₦2.6t	₦497.5b	8.4x	19x	3.6x
Tue, 19 Sep 2023	₦10.0t	₦2.6t	₦497.5b	8.4x	20.2x	3.8x

Price to Earnings Ratio

20.2x

Tue, 19 Sep 2023

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 16.2x which is lower than its 3-year average PE of 20.6x.

The 3-year average PS ratio of 3.6x is lower than the industry's current PS ratio of 4.3x.

Past Earnings Growth

The earnings for companies in the Materials industry have grown 59% 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	-2.60%
Materials	-3.37%
Packaging	0%	0
Metals and Mining	0%	0
Basic Materials	-3.38%
Chemicals	-6.54%
Paper and Forestry Products	-8.40%

Industry PE

Investors are most optimistic about the Metals and Mining industry which is trading above its 3-year average PE ratio of 84.1x.

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

Investors are most pessimistic about the Packaging industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 6.9x.

Forecasted Growth

Analysts are most optimistic on the Basic Materials industry, expecting annual earnings growth of 25% over the next 5 years.
However this is lower than its past earnings growth rate of 71% per year.