Narrative Update • May 05
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Nigerian (NSE) Materials Sector Analysis
UpdatedMay 07, 2026
DataAggregated Company Financials
Companies12
- 7D7.9%
- 3M87.4%
- 1Y228.8%
- YTD102.8%
The Materials industry is up 14% in the last week, with BUA Cement up 23%. During this same period, the Meyer underperformed, falling 7.4%. This takes the industry's 12 month performance to a gain of 229%. As for the next few years, earnings are expected to grow by 11% per annum.
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, 07 May 2026 | ₦38.0t | ₦7.0t | ₦1.9t | 19x | 20.2x | 5.4x |
| Sat, 04 Apr 2026 | ₦28.6t | ₦6.8t | ₦1.7t | 14.8x | 17.1x | 4.2x |
| Mon, 02 Mar 2026 | ₦24.1t | ₦6.8t | ₦1.7t | 14.5x | 14.4x | 3.6x |
| Wed, 28 Jan 2026 | ₦19.7t | ₦6.5t | ₦1.6t | 12.4x | 12.7x | 3x |
| Fri, 26 Dec 2025 | ₦18.6t | ₦6.5t | ₦1.6t | 10.7x | 11.9x | 2.8x |
| Sun, 23 Nov 2025 | ₦17.1t | ₦6.5t | ₦1.6t | 9.4x | 11x | 2.6x |
| Tue, 21 Oct 2025 | ₦18.4t | ₦6.1t | ₦1.3t | 12.2x | 14.3x | 3x |
| Thu, 18 Sep 2025 | ₦16.2t | ₦6.1t | ₦1.3t | 12.6x | 12.6x | 2.6x |
| Sat, 16 Aug 2025 | ₦18.0t | ₦6.1t | ₦1.3t | 11.7x | 14.1x | 2.9x |
| Mon, 14 Jul 2025 | ₦12.3t | ₦5.8t | ₦900.7b | 13.9x | 13.7x | 2.1x |
| Wed, 11 Jun 2025 | ₦11.7t | ₦5.8t | ₦709.5b | 9.6x | 16.5x | 2x |
| Fri, 09 May 2025 | ₦12.0t | ₦5.8t | ₦701.7b | 9.9x | 17x | 2.1x |
| Sun, 06 Apr 2025 | ₦12.4t | ₦5.3t | ₦501.2b | 10.2x | 24.6x | 2.3x |
| Tue, 04 Mar 2025 | ₦12.8t | ₦4.8t | ₦423.6b | 11.1x | 30.2x | 2.6x |
| Thu, 30 Jan 2025 | ₦10.8t | ₦4.7t | ₦581.6b | 13.7x | 18.7x | 2.3x |
| Sat, 28 Dec 2024 | ₦12.4t | ₦4.7t | ₦581.5b | 13.1x | 21.3x | 2.6x |
| Mon, 25 Nov 2024 | ₦12.2t | ₦4.7t | ₦581.5b | 11.4x | 21x | 2.6x |
| Wed, 23 Oct 2024 | ₦12.4t | ₦4.3t | ₦556.1b | 13.4x | 22.3x | 2.9x |
| Fri, 20 Sep 2024 | ₦13.5t | ₦4.3t | ₦556.1b | 13.1x | 24.2x | 3.2x |
| Sun, 18 Aug 2024 | ₦14.3t | ₦4.3t | ₦556.1b | 13.2x | 25.7x | 3.4x |
| Tue, 16 Jul 2024 | ₦16.5t | ₦3.7t | ₦562.5b | 14x | 29.4x | 4.5x |
| Thu, 13 Jun 2024 | ₦16.5t | ₦3.7t | ₦562.5b | 12.9x | 29.3x | 4.4x |
| Sat, 11 May 2024 | ₦16.6t | ₦3.7t | ₦448.3b | 12.3x | 37x | 4.4x |
| Mon, 08 Apr 2024 | ₦17.0t | ₦3.2t | ₦576.6b | 11.7x | 29.5x | 5.3x |
| Wed, 06 Mar 2024 | ₦16.9t | ₦3.2t | ₦576.6b | 11.7x | 29.3x | 5.3x |
| Fri, 02 Feb 2024 | ₦19.8t | ₦2.9t | ₦599.3b | 13.3x | 33x | 6.8x |
| Sun, 31 Dec 2023 | ₦9.3t | ₦2.9t | ₦551.3b | 10.4x | 16.9x | 3.2x |
| Tue, 28 Nov 2023 | ₦9.7t | ₦2.9t | ₦551.3b | 9.1x | 17.5x | 3.3x |
| Thu, 26 Oct 2023 | ₦9.4t | ₦2.6t | ₦497.6b | 8.3x | 19x | 3.6x |
| Sat, 23 Sep 2023 | ₦10.0t | ₦2.6t | ₦497.5b | 8.4x | 20.2x | 3.8x |
| Mon, 21 Aug 2023 | ₦9.9t | ₦2.6t | ₦497.5b | 7.2x | 19.9x | 3.8x |
| Wed, 19 Jul 2023 | ₦9.9t | ₦2.5t | ₦518.5b | 9.2x | 19.1x | 4x |
| Fri, 16 Jun 2023 | ₦8.3t | ₦2.5t | ₦518.5b | 9.1x | 16.1x | 3.4x |
| Sun, 14 May 2023 | ₦8.2t | ₦2.5t | ₦528.0b | 8x | 15.4x | 3.3x |
Price to Earnings Ratio
15.4x
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 20.6x.
- The 3-year average PS ratio of 3.4x 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 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 | 0.96% | |
| Materials | 7.88% | |
| Chemicals | 34.13% | |
| Basic Materials | 7.79% | |
| Packaging | 4.59% | |
| Paper and Forestry Products | 0% | 0 |
| Metals and Mining | -1.74% | |
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 78.2x.
- 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 11% over the next 5 years.
- In contrast, the Basic Materials industry is expected to see its earnings grow by 11% 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 | |
|---|---|---|---|---|---|
| BUACEMENT BUA Cement | ₦428.90 | 12.9% +₦1.7t | 412.4% | PE32.2x | |
| DANGCEM Dangote Cement | ₦1.04k | 7.2% +₦1.2t | 140.7% | PE15.6x | |
| CAP Chemical and Allied Products | ₦193.20 | 46.4% +₦49.9b | 383.0% | PE25.5x | |
| BETAGLAS Beta Glass | ₦570.00 | 4.6% +₦15.0b | 290.3% | PE11x | |
| IMG Industrial and Medical Gases Nigeria | ₦47.00 | 18.7% +₦5.0b | 51.2% | PE31.9x |
