Nigerian (NSE) Real Estate Sector Analysis

Sector Valuation and Performance

Has the Nigerian Real Estate Sector valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 07 Jun 2023	₦36.7b	₦8.5b	₦2.5b	7.6x	14.8x	4.3x
Fri, 05 May 2023	₦35.0b	₦8.5b	₦2.5b	7.6x	14.1x	4.1x
Sun, 02 Apr 2023	₦36.7b	₦3.0b	-₦5,861,368,344.00	8.2x	-6.3x	12.3x
Tue, 28 Feb 2023	₦34.5b	₦3.0b	-₦5,861,368,344.00	8.2x	-5.9x	11.6x
Thu, 26 Jan 2023	₦34.2b	₦3.0b	-₦5,875,809,344.00	8.9x	-5.8x	11.5x
Sat, 24 Dec 2022	₦33.1b	₦3.0b	-₦5,864,978,344.00	8.9x	-5.6x	11.2x
Mon, 21 Nov 2022	₦31.8b	₦3.1b	-₦5,703,314,344.00	8.9x	-5.6x	10.4x
Wed, 19 Oct 2022	₦33.5b	₦3.1b	-₦5,701,654,344.00	8.8x	-5.9x	10.9x
Fri, 16 Sep 2022	₦34.6b	₦3.1b	-₦5,701,654,344.00	8.8x	-6.1x	11.3x
Sun, 14 Aug 2022	₦37.4b	₦3.1b	-₦5,701,654,344.00	8.8x	-6.6x	12.2x
Tue, 12 Jul 2022	₦41.1b	₦3.1b	-₦5,702,330,344.00	8.9x	-7.2x	13.4x
Thu, 09 Jun 2022	₦36.4b	₦3.0b	-₦5,705,509,344.00	8.9x	-6.4x	12x
Sat, 07 May 2022	₦37.8b	₦3.0b	-₦5,705,509,344.00	8.9x	-6.6x	12.5x
Mon, 04 Apr 2022	₦31.2b	₦4.3b	₦2.2b	7x	14.3x	7.3x
Wed, 02 Mar 2022	₦37.7b	₦4.3b	₦2.2b	7.3x	17.3x	8.8x
Fri, 28 Jan 2022	₦39.6b	₦4.3b	₦2.2b	7.3x	17.9x	9.2x
Sun, 26 Dec 2021	₦40.1b	₦4.1b	₦2.2b	7.5x	18.2x	9.7x
Tue, 23 Nov 2021	₦51.8b	₦4.5b	₦2.5b	8.1x	21x	11.5x
Thu, 21 Oct 2021	₦58.6b	₦4.5b	₦2.5b	8.1x	23.8x	13x
Sat, 18 Sep 2021	₦56.6b	₦4.5b	₦2.5b	8.1x	23x	12.6x
Mon, 16 Aug 2021	₦46.0b	₦4.5b	₦2.5b	8.1x	18.7x	10.2x
Mon, 31 May 2021	₦38.1b	₦4.5b	₦2.5b	8x	15.5x	8.5x
Thu, 04 Mar 2021	₦39.9b	₦4.6b	₦2.1b	8x	18.9x	8.6x
Sun, 06 Dec 2020	₦39.7b	₦3.7b	-₦14,182,148,856.00	8.8x	-2.8x	10.8x
Wed, 09 Sep 2020	₦35.0b	₦4.1b	-₦14,088,137,856.00	7x	-2.5x	8.6x

Current Industry PE

Investors are optimistic on the Nigerian Real Estate industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 14.8x which is higher than its 3-year average PE of 6.4x.

The 3-year average PS ratio of 9.9x is higher than the industry's current PS ratio of 4.3x.

Past Earnings Growth

Total earnings for the Real Estate industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 28% per year.
This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Nigerian Real Estate sector?

Industry PE

Investors are most optimistic about the Real Estate industry, which is trading close to its 3-year average PE ratio of 54.2x.

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

Investors are most pessimistic about the REITS industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 4.6x.

Forecasted GrowthThere is insufficient data on the sub-industries of this industry.

	Company	Last Price	7D	1Y	Valuation
	UPDC UPDC	₦1.11	4.7% +₦928.0m	7.8%	PE129x
	UPDCREIT UPDC Real Estate Investment Trust	₦3.35	3.1% +₦266.8m	-1.5%	PB0.3x

Company

Last Price

Valuation

UPDC UPDC

₦1.11

4.7%
+₦928.0m

7.8%

PE129x

UPDCREIT UPDC Real Estate Investment Trust

₦3.35

3.1%
+₦266.8m

-1.5%

PB0.3x

Oct 11

Sector Valuation and Performance