International Breweries Plc

NGSE:INTBREW Stock Report

Market Cap: ₦841.5b

International Breweries Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • 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 INTBREW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INTBREW (NGN5) is trading above our estimate of fair value (NGN0.91)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for INTBREW. This is calculated by dividing INTBREW's market cap by their current revenue.
What is INTBREW's PS Ratio?
PS Ratio2x
Sales₦420.26b
Market Cap₦841.46b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for INTBREW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.9x
NB Nigerian Breweries
0.3x13.6%₦298.0b
GUINNESS Guinness Nigeria
0.4x7.3%₦146.8b
CHAMPION Champion Breweries
2xn/a₦34.0b
NESTLE Nestlé Nigeria
0.9x14.4%₦693.6b
INTBREW International Breweries
2x18.7%₦841.5b

Price-To-Sales vs Peers: INTBREW is expensive based on its Price-To-Sales Ratio (2x) compared to the peer average (0.9x).

Price to Sales Ratio vs Industry

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

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
INTBREW 2.0xIndustry Avg. 1.8xNo. of Companies3PS00.81.62.43.24+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: INTBREW is expensive based on its Price-To-Sales Ratio (2x) compared to the Global Beverage industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is INTBREW'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.

INTBREW PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2x
Fair PS Ratio1.1x

Price-To-Sales vs Fair Ratio: INTBREW is expensive based on its Price-To-Sales Ratio (2x) compared to the estimated Fair Price-To-Sales 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 INTBREW forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₦5.00
₦4.23
-15.4%
13.1%₦5.00₦3.28n/a5
Dec ’25₦4.00
₦4.25
+6.3%
13.1%₦5.00₦3.28n/a5
Nov ’25₦4.00
₦4.25
+6.3%
13.1%₦5.00₦3.28n/a5
Oct ’25₦4.01
₦4.58
+14.3%
8.4%₦5.11₦4.20n/a3
Sep ’25₦4.90
₦4.58
-6.5%
8.4%₦5.11₦4.20n/a3
Aug ’25₦4.20
₦5.37
+27.9%
20.4%₦7.00₦4.30n/a4
Jul ’25₦4.09
₦5.35
+30.7%
21.0%₦7.00₦4.20n/a4
Jun ’25₦3.65
₦5.35
+46.4%
21.0%₦7.00₦4.20n/a4
May ’25₦4.65
₦5.70
+22.6%
20.2%₦7.00₦4.20n/a3
Apr ’25₦4.45
₦5.03
+13.1%
40.8%₦7.00₦2.20n/a3
Mar ’25₦4.80
₦5.03
+4.9%
40.8%₦7.00₦2.20n/a3
Feb ’25₦5.20
₦5.01
-3.6%
40.8%₦7.00₦2.20n/a3
Jan ’25₦4.80
₦5.01
+4.4%
40.8%₦7.00₦2.20n/a3
Dec ’24₦4.32
₦5.01
+16.0%
40.8%₦7.00₦2.20₦4.003
Nov ’24₦4.55
₦4.60
+1.1%
52.2%₦7.00₦2.20₦4.002
Oct ’24₦4.50
₦4.60
+2.2%
52.2%₦7.00₦2.20₦4.012
Sep ’24₦4.60
₦4.60
0%
52.2%₦7.00₦2.20₦4.902
Aug ’24₦4.35
₦4.78
+10.0%
41.3%₦7.00₦2.20₦4.203
Jul ’24₦5.20
₦6.08
+16.8%
15.2%₦7.00₦5.15₦4.092
Jun ’24₦5.05
₦6.08
+20.3%
15.2%₦7.00₦5.15₦3.652
May ’24₦4.70
₦6.08
+29.3%
15.2%₦7.00₦5.15₦4.652
Apr ’24₦4.50
₦6.08
+35.0%
15.2%₦7.00₦5.15₦4.452
Mar ’24₦4.85
₦5.68
+17.2%
16.5%₦7.00₦4.90₦4.803
Feb ’24₦4.60
₦5.68
+23.6%
16.5%₦7.00₦4.90₦5.203
Jan ’24₦4.70
₦6.04
+28.5%
14.7%₦7.00₦4.90₦4.804
Dec ’23₦4.25
₦6.32
+48.8%
15.4%₦7.46₦4.90₦4.325

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 05:47
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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

International Breweries Plc is covered by 12 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
Erin ArcherArqaam Capital Research Offshore S.A.L.
Olufemi AdemolaBGL Research