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Nigerian (NSE) Telecom Sector Analysis
UpdatedNov 11, 2025
DataAggregated Company Financials
Companies7
- 7D-8.3%
- 3M3.6%
- 1Y181.8%
- YTD137.7%
Over the last 7 days, the Telecom industry has dropped 8.3%, driven by MTN Nigeria Communications declining 8.3%. Over the past 12 months, the industry was up 182%. As for the next few years, earnings are expected to grow by 17% per annum.
Sector Valuation and Performance
Has the Nigerian Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 11 Nov 2025 | ₦10.0t | ₦4.7t | ₦865.4b | 7.2x | 11.6x | 2.1x |
| Thu, 09 Oct 2025 | ₦28.8b | ₦14.3b | -₦766,935,000.00 | 11.3x | -37.6x | 2x |
| Sat, 06 Sep 2025 | ₦26.2b | ₦14.3b | -₦766,935,000.00 | 11.8x | -34.1x | 1.8x |
| Mon, 04 Aug 2025 | ₦27.5b | ₦14.3b | -₦766,935,000.00 | 9.3x | -35.8x | 1.9x |
| Wed, 02 Jul 2025 | ₦26.9b | ₦14.1b | -₦1,035,376,000.00 | 7x | -26x | 1.9x |
| Fri, 30 May 2025 | ₦26.3b | ₦14.1b | -₦1,035,376,000.00 | 7x | -25.4x | 1.9x |
| Sun, 27 Apr 2025 | ₦10.4b | ₦14.2b | -₦1,980,966,000.00 | 13x | -5.2x | 0.7x |
| Tue, 25 Mar 2025 | ₦10.6b | ₦13.9b | -₦2,510,056,000.00 | 13x | -4.2x | 0.8x |
| Thu, 20 Feb 2025 | ₦12.2b | ₦13.9b | -₦2,510,056,000.00 | 15.9x | -4.9x | 0.9x |
| Sat, 18 Jan 2025 | ₦13.6b | ₦11.3b | -₦2,805,178,000.00 | 12.1x | -4.8x | 1.2x |
| Mon, 16 Dec 2024 | ₦10.0b | ₦11.3b | -₦2,805,178,000.00 | 10x | -3.5x | 0.9x |
| Wed, 13 Nov 2024 | ₦10.8b | ₦11.3b | -₦2,809,025,000.00 | 8.1x | -3.8x | 1x |
| Fri, 11 Oct 2024 | ₦10.1b | ₦10.3b | -₦3,058,638,000.00 | n/a | -3.3x | 1x |
| Sun, 08 Sep 2024 | ₦11.8b | ₦10.3b | -₦3,058,638,000.00 | n/a | -3.9x | 1.1x |
| Tue, 06 Aug 2024 | ₦8.5b | ₦10.3b | -₦3,058,638,000.00 | n/a | -2.8x | 0.8x |
| Thu, 04 Jul 2024 | ₦8.4b | ₦10.8b | -₦2,046,038,000.00 | 5.7x | -4.1x | 0.8x |
| Sat, 01 Jun 2024 | ₦8.7b | ₦10.7b | -₦1,619,123,000.00 | 6.4x | -5.3x | 0.8x |
| Mon, 29 Apr 2024 | ₦9.0b | ₦11.2b | -₦302,669,000.00 | 5.8x | -29.6x | 0.8x |
| Wed, 27 Mar 2024 | ₦9.0b | ₦11.2b | -₦302,669,000.00 | 6x | -29.8x | 0.8x |
| Fri, 23 Feb 2024 | ₦5.2t | ₦2.3t | ₦239.0b | 7.5x | 21.8x | 2.2x |
| Sun, 21 Jan 2024 | ₦6.1t | ₦2.3t | ₦238.9b | 9.1x | 25.5x | 2.6x |
| Tue, 19 Dec 2023 | ₦5.1t | ₦2.3t | ₦238.9b | 5.6x | 21.5x | 2.2x |
| Thu, 16 Nov 2023 | ₦5.0t | ₦2.3t | ₦239.0b | 5.5x | 21.1x | 2.2x |
| Sat, 14 Oct 2023 | ₦5.2t | ₦2.2t | ₦308.2b | 4.8x | 17x | 2.4x |
| Mon, 11 Sep 2023 | ₦5.8t | ₦2.2t | ₦308.2b | 5.2x | 18.7x | 2.6x |
| Wed, 09 Aug 2023 | ₦5.7t | ₦2.2t | ₦308.4b | 5.1x | 18.5x | 2.6x |
| Fri, 07 Jul 2023 | ₦5.6t | ₦2.1t | ₦365.1b | 8x | 15.3x | 2.6x |
| Sun, 04 Jun 2023 | ₦5.1t | ₦2.1t | ₦364.0b | 7.5x | 14x | 2.4x |
| Tue, 02 May 2023 | ₦4.7t | ₦2.1t | ₦364.0b | 5.7x | 12.8x | 2.2x |
| Thu, 30 Mar 2023 | ₦4.5t | ₦2.0t | ₦360.5b | 5x | 12.6x | 2.2x |
| Sat, 25 Feb 2023 | ₦5.0t | ₦2.0t | ₦360.5b | 5x | 13.9x | 2.5x |
| Mon, 23 Jan 2023 | ₦4.7t | ₦1.9t | ₦347.8b | 3x | 13.4x | 2.4x |
| Wed, 21 Dec 2022 | ₦4.4t | ₦1.9t | ₦348.2b | 2.9x | 12.5x | 2.3x |
| Fri, 18 Nov 2022 | ₦3.8t | ₦1.9t | ₦347.8b | 4.6x | 11x | 2x |
Price to Earnings Ratio
11x
Current Industry PE
- Investors are pessimistic on the Nigerian Communication Services 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 11.6x which is higher than its 3-year average PE of -1.3x.
- The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
- The earnings for companies in the Communication Services industry have grown 36% per year over the last three years.
- Revenues for these companies have grown 35% 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 Telecom sector?
| NG Market | -3.31% | |
| Telecom | -8.28% | |
| Telecom Services and Carriers | 0% | 0 |
| Media | -7.79% | |
| Wireless Telecom | -8.29% | |
Industry PE
- Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Wireless Telecom industry, which is trading below its 3-year average of 18.2x.
Forecasted Growth
- Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 17% over the next 5 years.
- In contrast, the Wireless Telecom industry is expected to see its earnings grow by 17% 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 | |
|---|---|---|---|---|---|
| UPL University Press | ₦5.10 | 2.0% +₦43.1m | 54.5% | PE7.2x |