How does FBNH's PE Ratio compare to its peers?

FBNH is expensive based on its Price-To-Earnings Ratio (1.6x) compared to the peer average (1.2x).

How does FBNH's PE Ratio compare vs other companies in the African Banks Industry?

FBNH is good value based on its Price-To-Earnings Ratio (1.6x) compared to the African Banks industry average (5.2x).

What is FBNH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Insufficient data to calculate FBNH's Price-To-Earnings Fair Ratio for valuation analysis.

What is the Fair Price of FBNH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

FBNH (NGN26.95) is trading below our estimate of [[fair value]] (NGN41.11)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is less than 20% higher than the current share price.

FBN Holdings (NGSE:FBNH) - Stock Price, News & Analysis

FBNH Stock Overview

Provides commercial banking, investment banking, corporate banking, and other financial services in Nigeria, the United Kingdom, and rest of Africa. More details

FBNH fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	1/6
Past Performance	5/6
Financial Health	4/6
Dividends	2/6

Rewards

Trading at 34.4% below our estimate of its fair value

Revenue is forecast to grow 17.15% per year

Earnings have grown 46.6% per year over the past 5 years

Risk Analysis

Highly volatile share price over the past 3 months compared to the NG market

FBN Holdings Plc Competitors

Access Holdings

NGSE:ACCESSCORP

₦819.6b

United Bank for Africa

NGSE:UBA

₦1.1t

Zenith Bank

NGSE:ZENITHBANK

₦1.4t

Guaranty Trust Holding

NGSE:GTCO

₦1.1t

Price History & Performance

Summary of all time highs, changes and price drops for FBN Holdings
Historical stock prices
Current Share Price	₦26.95
52 Week High	₦43.95
52 Week Low	₦18.50
Beta	0.85
11 Month Change	2.86%
3 Month Change	32.43%
1 Year Change	41.84%
33 Year Change	124.58%
5 Year Change	296.32%
Change since IPO	5,643.43%

Recent updates

Shareholder Returns

	FBNH	NG Banks	NG Market
7D	-2.9%	1.7%	0.9%
1Y	41.8%	46.5%	54.4%

Return vs Industry: FBNH underperformed the NG Banks industry which returned 46.5% over the past year.

Return vs Market: FBNH underperformed the NG Market which returned 54.4% over the past year.

Price Volatility

Is FBNH's price volatile compared to industry and market?
FBNH volatility
FBNH Average Weekly Movement	9.3%
Banks Industry Average Movement	6.6%
Market Average Movement	6.3%
10% most volatile stocks in NG Market	9.2%
10% least volatile stocks in NG Market	3.2%

Stable Share Price: FBNH's share price has been volatile over the past 3 months compared to the NG market.

Volatility Over Time: FBNH's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of NG stocks.

About the Company

Founded	Employees	CEO	Website
1894	8,773	n/a	www.fbnholdings.com

FBN Holdings Plc, together with its subsidiaries, provides commercial banking, investment banking, corporate banking, and other financial services in Nigeria, the United Kingdom, and rest of Africa. The company operates through Commercial Banking Business Group; Merchant Banking and Asset Management Business Group (MBAM); and Others segments. The Commercial Banking Business Group segment offers financial intermediation services to individual, and corporate clients/customers.

FBN Holdings Plc Fundamentals Summary

How do FBN Holdings's earnings and revenue compare to its market cap?
FBNH fundamental statistics
Market cap	₦972.76b
Earnings (TTM)	₦596.64b
Revenue (TTM)	₦1.59t

1.6x

P/E Ratio

0.4x

P/B Ratio

Is FBNH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FBNH income statement (TTM)
Revenue	₦1.59t
Cost of Revenue	₦118.50b
Gross Profit	₦1.48t
Other Expenses	₦879.32b
Earnings	₦596.64b

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	16.62
Gross Margin	92.57%
Net Profit Margin	37.42%
Debt/Equity Ratio	66.0%

How did FBNH perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

2%

Payout Ratio

FBNH Stock Overview

Rewards

Risk Analysis

FBN Holdings Plc Competitors

NGSE:ACCESSCORP

₦819.6b

NGSE:UBA

₦1.1t

NGSE:ZENITHBANK

₦1.4t

NGSE:GTCO

₦1.1t

Price History & Performance

Recent News & Updates

FBN Holdings Plc has filed a Follow-on Equity Offering in the amount of NGN 149.56372 billion.

FBN Holdings Plc has filed a Follow-on Equity Offering in the amount of NGN 149.56372 billion.

Investor sentiment improves as stock rises 32%

Upcoming dividend of ₦0.40 per share

Second quarter 2024 earnings released: EPS: ₦4.33 (vs ₦3.82 in 2Q 2023)

Dividend of ₦0.40 announced

Recent updates

FBN Holdings Plc has filed a Follow-on Equity Offering in the amount of NGN 149.56372 billion.

FBN Holdings Plc has filed a Follow-on Equity Offering in the amount of NGN 149.56372 billion.

Investor sentiment improves as stock rises 32%

Upcoming dividend of ₦0.40 per share

Second quarter 2024 earnings released: EPS: ₦4.33 (vs ₦3.82 in 2Q 2023)

Dividend of ₦0.40 announced

First quarter 2024 earnings released: EPS: ₦5.76 (vs ₦1.38 in 1Q 2023)

High number of new directors

Investor sentiment deteriorates as stock falls 19%

FBN Holdings Plc announced a financing transaction

Investor sentiment deteriorates as stock falls 17%

Investor sentiment improves as stock rises 24%

Investor sentiment improves as stock rises 15%

Full year 2023 earnings released: EPS: ₦8.56 (vs ₦3.75 in FY 2022)

New major risk - Share price stability

Investor sentiment deteriorates as stock falls 15%

Investor sentiment improves as stock rises 21%

New minor risk - Share price stability

Investor sentiment improves as stock rises 16%

Third quarter 2023 earnings released: EPS: ₦1.35 (vs ₦0.96 in 3Q 2022)

Upcoming dividend of ₦0.50 per share at 2.8% yield

Second quarter 2023 earnings released: EPS: ₦3.82 (vs ₦0.67 in 2Q 2022)

Investor sentiment improves as stock rises 18%

Price target increased by 16% to ₦13.60

Investor sentiment improves as stock rises 18%

Full year 2022 earnings released

Price target decreased to ₦10.82

High number of new and inexperienced directors

Third quarter 2022 earnings released: EPS: ₦0.96 (vs ₦0.069 in 3Q 2021)

Price target decreased to ₦11.00

Second quarter 2022 earnings released: EPS: ₦0.66 (vs ₦0.62 in 2Q 2021)

Investor sentiment improved over the past week

Price target increased to ₦11.85

Upcoming dividend of ₦0.35 per share

First quarter 2022 earnings released: EPS: ₦0.89 (vs ₦0.43 in 1Q 2021)

No independent directors

Price target increased to ₦10.89

Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Consensus forecasts updated

Second quarter 2021 earnings released: EPS ₦0.62 (vs ₦0.35 in 2Q 2020)

Consensus forecasts updated

Consensus forecasts updated

First quarter 2021 earnings released: EPS ₦0.43 (vs ₦0.61 in 1Q 2020)

Upcoming dividend of ₦0.45 per share

Full year 2020 earnings released: EPS ₦2.06 (vs ₦1.74 in FY 2019)

Price target raised to ₦10.21

Full year 2020 earnings released: EPS ₦1.79 (vs ₦1.95 in FY 2019)

Price target raised to ₦9.38

Revenue behind estimates

FBN Holdings plc Appoints Seni Adetu and Mrs. Juliet Anammah as Independent Non-Executive Directors

Third quarter 2020 earnings released: EPS ₦0.52

Market bids up stock over the past week

New 90-day high: ₦6.85

New 90-day high: ₦6.40

New 90-day high: ₦5.35

Sanlam Emerging Markets (Pty) Limited acquired remaining 65% stake in FBN Insurance Limited from FBN Holdings Plc (NGSE:FBNH).

Shareholder Returns