Nigerian (NSE) Market Analysis & Valuation
UpdatedJun 15, 2024
DataAggregated Company Financials
Companies129
- 7D1.1%
- 3M-3.9%
- 1Y98.5%
- YTD49.2%
The market is up 1.1% over the last week, with the Financials sector leading the way, up 3.1%. On the other hand, with a decline of 9.3%, the Communication Services sector is lagging behind. In the last year, the market has climbed 99%. As for the next few years, earnings are expected to grow by 23% per annum.
Trending IndustriesOil and Gas
Market Valuation and Performance
Has the Nigerian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 15 Jun 2024 | ₦38.9t | ₦22.4t | ₦5.7t | 7.4x | 6.9x | 1.7x |
| Mon, 13 May 2024 | ₦39.2t | ₦21.7t | ₦5.2t | 7.5x | 7.5x | 1.8x |
| Wed, 10 Apr 2024 | ₦41.7t | ₦19.7t | ₦4.0t | 8.1x | 10.3x | 2.1x |
| Fri, 08 Mar 2024 | ₦40.7t | ₦19.5t | ₦3.6t | 8x | 11.3x | 2.1x |
| Sun, 04 Feb 2024 | ₦46.4t | ₦21.7t | ₦3.9t | 9.3x | 11.8x | 2.1x |
| Tue, 02 Jan 2024 | ₦31.3t | ₦20.0t | ₦3.6t | 9x | 8.7x | 1.6x |
| Thu, 30 Nov 2023 | ₦29.8t | ₦19.9t | ₦3.6t | 8.3x | 8.3x | 1.5x |
| Sat, 28 Oct 2023 | ₦29.3t | ₦19.0t | ₦3.5t | 7.8x | 8.3x | 1.5x |
| Mon, 25 Sep 2023 | ₦29.8t | ₦18.3t | ₦3.2t | 8.4x | 9.3x | 1.6x |
| Wed, 23 Aug 2023 | ₦28.6t | ₦17.3t | ₦2.5t | 8x | 11.3x | 1.7x |
| Fri, 21 Jul 2023 | ₦28.6t | ₦17.0t | ₦2.5t | 8.3x | 11.3x | 1.7x |
| Sun, 18 Jun 2023 | ₦26.2t | ₦16.7t | ₦2.5t | 7.7x | 10.5x | 1.6x |
| Tue, 16 May 2023 | ₦22.8t | ₦16.4t | ₦2.5t | 7x | 9.1x | 1.4x |
| Thu, 13 Apr 2023 | ₦22.9t | ₦15.9t | ₦2.5t | 6.5x | 9x | 1.4x |
| Sat, 11 Mar 2023 | ₦23.7t | ₦15.8t | ₦2.6t | 7x | 9.2x | 1.5x |
| Mon, 06 Feb 2023 | ₦22.3t | ₦15.6t | ₦2.4t | 7x | 9.1x | 1.4x |
| Wed, 04 Jan 2023 | ₦21.0t | ₦15.1t | ₦2.4t | 7.1x | 8.7x | 1.4x |
| Fri, 02 Dec 2022 | ₦19.7t | ₦15.0t | ₦2.4t | 6.6x | 8.3x | 1.3x |
| Sun, 30 Oct 2022 | ₦18.3t | ₦14.6t | ₦2.3t | 7.1x | 7.9x | 1.2x |
| Tue, 27 Sep 2022 | ₦18.3t | ₦14.3t | ₦2.4t | 7x | 7.7x | 1.3x |
| Thu, 25 Aug 2022 | ₦18.3t | ₦14.2t | ₦2.4t | 7.6x | 7.8x | 1.3x |
| Sat, 23 Jul 2022 | ₦20.1t | ₦13.5t | ₦2.3t | 8.6x | 8.7x | 1.5x |
| Mon, 20 Jun 2022 | ₦20.6t | ₦13.4t | ₦2.3t | 8.7x | 8.9x | 1.5x |
| Wed, 18 May 2022 | ₦22.4t | ₦13.2t | ₦2.2t | 9x | 10.1x | 1.7x |
| Fri, 15 Apr 2022 | ₦20.0t | ₦12.6t | ₦2.1t | 9x | 9.5x | 1.6x |
| Sun, 13 Mar 2022 | ₦20.1t | ₦12.6t | ₦2.1t | 8.6x | 9.7x | 1.6x |
| Tue, 08 Feb 2022 | ₦20.0t | ₦12.3t | ₦2.1t | 8.6x | 9.7x | 1.6x |
| Thu, 06 Jan 2022 | ₦18.3t | ₦11.6t | ₦1.9t | 7.4x | 9.6x | 1.6x |
| Sat, 04 Dec 2021 | ₦17.9t | ₦11.6t | ₦1.8t | 7.2x | 9.7x | 1.5x |
| Mon, 01 Nov 2021 | ₦18.4t | ₦11.4t | ₦1.8t | 7.3x | 10x | 1.6x |
| Wed, 29 Sep 2021 | ₦16.9t | ₦11.0t | ₦1.8t | 7.3x | 9.5x | 1.5x |
| Fri, 27 Aug 2021 | ₦17.3t | ₦11.7t | ₦1.8t | 7.3x | 9.5x | 1.5x |
| Sat, 03 Jul 2021 | ₦16.8t | ₦11.7t | ₦1.8t | 7.4x | 9.3x | 1.4x |
Price to Earnings Ratio
9.3x
Current Market PE
- Investors are pessimistic on the Nigerian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 6.9x which is lower than its 3-year average PE of 9.3x.
Past Earnings Growth
- The earnings for Nigerian listed companies have grown 46% per year over the last three years.
- Revenues for these companies have grown 24% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Nigerian Market?
| NG Market | 1.10% | |
| Real Estate | 12.79% | |
| Energy | 10.04% | |
| Consumer Discretionary | 5.25% | |
| Industrials | 5.12% | |
| Financials | 3.06% | |
| Tech | 1.34% | |
| Consumer Staples | 0.79% | |
| Utilities | 0.46% | |
| Materials | 0.20% | |
| Healthcare | 0.15% | |
| Telecom | -9.28% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 12.3x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 57% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Financials sector is expected to see its earnings decline by 7.7% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| ZENITHBANK Zenith Bank | ₦36.00 | 8.3% +₦86.3b | 16.1% | PB0.4x | Financials | |
| TRANSCOHOT Transcorp Hotels | ₦99.98 | 5.5% +₦53.2b | 584.8% | PE94.8x | Consumer Discretionary | |
| PRESCO Presco | ₦345.00 | 17.4% +₦51.1b | 91.7% | PE7.3x | Consumer Staples | |
| ACCESSCORP Access Holdings | ₦18.65 | 8.1% +₦48.2b | 30.9% | PB0.3x | Financials | |
| GTCO Guaranty Trust Holding | ₦42.20 | 5.6% +₦47.9b | 37.9% | PB0.5x | Financials |
