Guaranty Trust Holding Company Plc

NGSE:GTCO Stock Report

Market Cap: ₦1.1t

Guaranty Trust Holding Valuation

Is GTCO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: GTCO (NGN54.05) is trading above our estimate of fair value (NGN48.02)

Significantly Below Fair Value: GTCO is trading above our estimate of fair value.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for GTCO?

Other financial metrics that can be useful for relative valuation.

GTCO key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-0.1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for GTCO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average1.4x
UBA United Bank for Africa
1.6x6.6%₦1.1t
ZENITHBANK Zenith Bank
1.3x0.1%₦1.3t
FBNH FBN Holdings
1.7xn/a₦992.5b
ACCESSCORP Access Holdings
1.1x1.6%₦830.0b
GTCO Guaranty Trust Holding
0.9x-9.0%₦1.1t

Price-To-Earnings vs Peers: GTCO is good value based on its Price-To-Earnings Ratio (0.9x) compared to the peer average (1.4x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-0.5%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-0.5%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: GTCO is good value based on its Price-To-Earnings Ratio (0.9x) compared to the African Banks industry average (5.2x).


Price to Earnings Ratio vs Fair Ratio

What is GTCO'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.

GTCO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio0.9x
Fair PE Ratio1.1x

Price-To-Earnings vs Fair Ratio: GTCO is good value based on its Price-To-Earnings Ratio (0.9x) compared to the estimated Fair Price-To-Earnings Ratio (1.1x).


Analyst Price Targets

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

The above table shows the analyst GTCO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₦54.05
₦62.15
+15.0%
10.9%₦75.47₦53.90n/a6
Oct ’25₦48.00
₦62.15
+29.5%
10.9%₦75.47₦53.90n/a6
Sep ’25₦45.50
₦56.83
+24.9%
20.3%₦75.47₦42.29n/a6
Aug ’25₦44.00
₦56.83
+29.2%
20.3%₦75.47₦42.29n/a6
Jul ’25₦45.15
₦63.57
+40.8%
30.9%₦104.00₦42.29n/a7
Jun ’25₦40.00
₦61.98
+55.0%
36.3%₦104.00₦42.29n/a5
May ’25₦32.70
₦54.83
+67.7%
40.5%₦104.00₦39.29n/a6
Apr ’25₦52.50
₦54.60
+4.0%
40.9%₦104.00₦39.29n/a6
Mar ’25₦41.70
₦54.60
+30.9%
40.9%₦104.00₦39.29n/a6
Feb ’25₦40.70
₦54.60
+34.1%
40.9%₦104.00₦39.29n/a6
Jan ’25₦40.50
₦54.60
+34.8%
40.9%₦104.00₦39.29n/a6
Dec ’24₦39.10
₦50.99
+30.4%
43.6%₦104.00₦31.73n/a7
Nov ’24₦35.40
₦46.79
+32.2%
26.5%₦74.60₦31.73₦55.307
Oct ’24₦34.45
₦46.67
+35.5%
28.7%₦74.60₦31.73₦48.006
Sep ’24₦38.00
₦41.22
+8.5%
42.6%₦74.60₦23.47₦45.505
Aug ’24₦35.50
₦39.02
+9.9%
43.0%₦74.60₦23.47₦44.006
Jul ’24₦35.00
₦39.02
+11.5%
43.0%₦74.60₦23.47₦45.156
Jun ’24₦29.00
₦35.13
+21.1%
25.5%₦51.30₦23.47₦40.006
May ’24₦24.85
₦36.30
+46.1%
22.4%₦51.30₦28.00₦32.705
Apr ’24₦25.50
₦39.63
+55.4%
20.6%₦51.30₦28.00₦52.505
Mar ’24₦26.90
₦39.36
+46.3%
19.0%₦51.30₦28.00₦41.706
Feb ’24₦25.05
₦39.36
+57.1%
19.0%₦51.30₦28.00₦40.706
Jan ’24₦23.00
₦39.86
+73.3%
17.0%₦51.30₦31.00₦40.506
Dec ’23₦20.30
₦39.86
+96.4%
17.0%₦51.30₦31.00₦39.106
Nov ’23₦17.60
₦38.64
+119.5%
14.4%₦47.60₦31.00₦35.407

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


Discover undervalued companies