International Breweries Plc

NGSE:INTBREW Stock Report

Market Cap: ₦673.2b

International Breweries Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 (NGN4) 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 Ratio1.6x
Sales₦420.26b
Market Cap₦673.17b

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%₦292.9b
GUINNESS Guinness Nigeria
0.4x6.0%₦142.4b
CHAMPION Champion Breweries
1.9xn/a₦33.1b
NESTLE Nestlé Nigeria
0.8x13.9%₦673.8b
INTBREW International Breweries
1.6x18.7%₦673.2b

Price-To-Sales vs Peers: INTBREW is expensive based on its Price-To-Sales Ratio (1.6x) 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 1.6xIndustry Avg. 1.7xNo. of Companies3PS00.81.62.43.24+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: INTBREW is good value based on its Price-To-Sales Ratio (1.6x) 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 Ratio1.6x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: INTBREW is expensive based on its Price-To-Sales Ratio (1.6x) compared to the estimated Fair Price-To-Sales Ratio (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₦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₦2.20n/a3
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
Nov ’23₦4.15
₦6.32
+52.4%
15.4%₦7.46₦4.90₦4.555

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

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