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Nigerian (NSE) Materials Sector Analysis
UpdatedSep 18, 2025
DataAggregated Company Financials
Companies14
- 7D-1.4%
- 3M34.5%
- 1Y20.4%
- YTD30.7%
Over the last 7 days, the Materials industry has dropped 1.4%, driven by Dangote Cement declining 2.2%. Meanwhile, Chemical and Allied Products actually outperformed within the industry, gaining 9.2% in the last week. Over the past 12 months, the industry was up 20%. As for the next few years, earnings are expected to grow by 18% 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, 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 |
| Tue, 11 Apr 2023 | ₦8.4t | ₦2.5t | ₦522.2b | 7.4x | 16.2x | 3.4x |
| Thu, 09 Mar 2023 | ₦8.8t | ₦2.5t | ₦522.5b | 7.9x | 16.8x | 3.5x |
| Sat, 04 Feb 2023 | ₦8.4t | ₦2.3t | ₦440.1b | 8.1x | 19.2x | 3.6x |
| Mon, 02 Jan 2023 | ₦8.3t | ₦2.3t | ₦452.7b | 9.3x | 18.2x | 3.6x |
| Wed, 30 Nov 2022 | ₦7.5t | ₦2.3t | ₦452.7b | 9.3x | 16.6x | 3.2x |
| Fri, 28 Oct 2022 | ₦7.0t | ₦2.3t | ₦513.5b | 12.1x | 13.7x | 3.1x |
| Sun, 25 Sep 2022 | ₦6.3t | ₦2.3t | ₦513.8b | 9.7x | 12.3x | 2.8x |
Price to Earnings Ratio
12.3x
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 12.6x which is lower than its 3-year average PE of 21.1x.
- The 3-year average PS ratio of 3.4x is higher than the industry's current PS ratio of 2.6x.
Past Earnings Growth
- The earnings for companies in the Materials industry have grown 36% per year over the last three years.
- Revenues for these companies have grown 39% 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 | 1.59% | |
| Materials | -1.45% | |
| Metals and Mining | 16.13% | |
| Chemicals | 7.08% | |
| Packaging | 0% | 0 |
| Basic Materials | -1.53% | |
| Paper and Forestry Products | -2.39% | |
Industry PE
- Investors are most optimistic about the Metals and Mining industry which is trading above its 3-year average PE ratio of 73.2x.
- 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 18% over the next 5 years.
- In contrast, the Basic Materials industry is expected to see its earnings grow by 18% 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 | |
|---|---|---|---|---|---|
| CAP Chemical and Allied Products | ₦71.00 | 9.2% +₦4.9b | 102.9% | PE12.7x | |
| IMG Industrial and Medical Gases Nigeria | ₦36.60 | 9.9% +₦1.8b | 15.0% | PE36.4x | |
| MULTIVERSE Multiverse Mining and Exploration | ₦13.95 | 21.3% +₦1.0b | 24.6% | PE12.6x | |
| UNIONDICON Union Dicon Salt | ₦9.80 | 0.5% +₦13.7m | 22.5% | PE-25.6x |