Guinness Nigeria Plc

NGSE:GUINNESS Stock Report

Market Cap: ₦146.8b

Guinness Nigeria Valuation

Is GUINNESS 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: GUINNESS (NGN67) is trading above our estimate of fair value (NGN39.32)

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

Key Valuation Metric

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

Key metric: As GUINNESS is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for GUINNESS. This is calculated by dividing GUINNESS's market cap by their current revenue.
What is GUINNESS's PS Ratio?
PS Ratio0.4x
Sales₦365.84b
Market Cap₦146.76b

Price to Sales Ratio vs Peers

How does GUINNESS's PS Ratio compare to its peers?

The above table shows the PS ratio for GUINNESS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.2x
NB Nigerian Breweries
0.3x13.6%₦298.0b
CHAMPION Champion Breweries
2xn/a₦34.0b
INTBREW International Breweries
2x18.7%₦841.5b
UACN UAC of Nigeria
0.5xn/a₦88.5b
GUINNESS Guinness Nigeria
0.4x7.3%₦146.8b

Price-To-Sales vs Peers: GUINNESS is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (1.2x).

Price to Sales Ratio vs Industry

How does GUINNESS's PS Ratio compare vs other companies in the African Beverage Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
GUINNESS 0.4xIndustry Avg. 1.7xNo. of Companies3PS00.81.62.43.24+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: GUINNESS is good value based on its Price-To-Sales Ratio (0.4x) compared to the Global Beverage industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

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

GUINNESS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: GUINNESS is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

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 GUINNESS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₦67.00
₦71.11
+6.1%
12.7%₦81.60₦53.13n/a6
Dec ’25₦62.00
₦69.01
+11.3%
12.2%₦76.07₦53.13n/a5
Nov ’25₦65.00
₦69.01
+6.2%
12.2%₦76.07₦53.13n/a5
Oct ’25₦65.00
₦69.87
+7.5%
12.9%₦77.81₦53.13n/a5
Sep ’25₦63.50
₦66.46
+4.7%
12.9%₦76.07₦53.13n/a5
Aug ’25₦61.00
₦70.33
+15.3%
20.5%₦95.41₦53.13n/a5
Jul ’25₦67.00
₦69.77
+4.1%
26.4%₦95.41₦53.13n/a3
Jun ’25₦49.55
₦69.77
+40.8%
26.4%₦95.41₦53.13n/a3
May ’25₦54.00
₦74.45
+37.9%
16.4%₦95.41₦60.77n/a5
Apr ’25₦49.60
₦75.74
+52.7%
14.5%₦95.41₦65.98n/a5
Mar ’25₦51.00
₦78.18
+53.3%
14.1%₦95.41₦67.21n/a4
Feb ’25₦63.70
₦78.00
+22.5%
14.4%₦95.41₦66.50n/a4
Jan ’25₦66.00
₦77.40
+17.3%
11.9%₦93.01₦66.50n/a5
Dec ’24₦67.90
₦77.40
+14.0%
11.9%₦93.01₦66.50₦62.005
Nov ’24₦65.00
₦80.16
+23.3%
10.4%₦93.13₦70.10₦65.004
Oct ’24₦65.00
₦80.78
+24.3%
11.5%₦95.60₦70.10₦65.004
Sep ’24₦62.20
₦84.33
+35.6%
9.5%₦95.60₦77.40₦63.503
Aug ’24₦55.00
₦81.63
+48.4%
7.0%₦93.00₦77.40₦61.005
Jul ’24₦80.00
₦79.25
-0.9%
0.7%₦80.00₦78.52₦67.004
Jun ’24₦70.00
₦79.25
+13.2%
0.7%₦80.00₦78.52₦49.554
May ’24₦70.00
₦79.25
+13.2%
0.7%₦80.00₦78.52₦54.004
Apr ’24₦70.00
₦79.25
+13.2%
0.7%₦80.00₦78.52₦49.604
Mar ’24₦70.00
₦77.50
+10.7%
4.6%₦80.00₦70.50₦51.005
Feb ’24₦63.00
₦81.44
+29.3%
5.4%₦90.20₦78.52₦63.705
Jan ’24₦69.30
₦85.04
+22.7%
4.5%₦90.20₦80.00₦66.004
Dec ’23₦63.00
₦94.13
+49.4%
19.6%₦130.49₦80.00₦67.905

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

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 18:07
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Guinness Nigeria Plc is covered by 17 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Adedayo AyeniAbsa Bank Limited
null nullARM Research
Victor DimaArqaam Capital Research Offshore S.A.L.