Nigerian Breweries (NB.NL) Stock Price

Nigerian Breweries Price

CLOSED
71.50NGN+1.10 (+1.55 %)
Market closed

Revenue has compounded at 15.6% per year over the past 9 years to 1.08 T NGN. Earnings per share have declined at 18.3% per year over the last 7 years. Nigerian Breweries's net margin stands at -13.4%, down from 5.0% several years earlier. Nigerian Breweries currently offers a dividend yield of about 1.44%. Analysts set a median price target of 89.43 NGN, implying 25.1% above the current price. Of 18 analysts, 14 rate the stock a buy — an overall Buy consensus. The stock trades about 19% above its 52-week low.

Nigerian Breweries stock price

Volume
Ex-Dividend
Details

Stock Price

How to Read This Chart

This chart tracks the historical stock price of Nigerian Breweries over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Nigerian Breweries stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Nigerian Breweries's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

Nigerian Breweries Stock Price History
DateNigerian Breweries Price
8/10/202671.50 NGN
8/7/202670.40 NGN
8/6/202670.40 NGN
7/24/202678.00 NGN
6/22/202676.00 NGN
6/9/202681.50 NGN
6/5/202680.00 NGN
6/4/202680.00 NGN
6/3/202680.00 NGN
6/2/202683.45 NGN
6/1/202683.75 NGN
5/29/202683.60 NGN
5/26/202685.00 NGN
5/25/202686.00 NGN
5/22/202686.00 NGN
5/21/202683.60 NGN
5/20/202683.60 NGN
5/19/202684.00 NGN
5/18/202686.00 NGN
5/13/202694.00 NGN
4/2/202670.00 NGN
4/1/202672.00 NGN
3/31/202673.00 NGN
3/30/202671.00 NGN
3/27/202671.00 NGN
3/26/202673.30 NGN
3/25/202671.95 NGN
3/24/202670.00 NGN
3/23/202670.00 NGN
3/18/202675.50 NGN
3/17/202676.00 NGN
3/16/202678.00 NGN
3/13/202678.00 NGN
3/12/202678.00 NGN
3/11/202678.00 NGN
3/10/202679.10 NGN
3/9/202680.00 NGN
3/6/202682.00 NGN
3/5/202680.00 NGN
3/4/202680.00 NGN
3/3/202680.45 NGN
3/2/202680.00 NGN
2/27/202679.95 NGN
2/26/202679.95 NGN
2/25/202680.00 NGN
2/24/202681.50 NGN
2/23/202682.35 NGN
2/20/202682.00 NGN
2/19/202680.00 NGN
2/18/202680.00 NGN
2/17/202680.00 NGN
2/16/202680.50 NGN
2/13/202678.00 NGN
2/12/202681.00 NGN
2/11/202681.95 NGN
2/10/202681.00 NGN
2/9/202680.90 NGN
2/6/202678.80 NGN
2/5/202678.80 NGN
2/4/202678.80 NGN
2/3/202678.80 NGN
2/2/202678.80 NGN
1/30/202678.80 NGN
1/29/202678.00 NGN
1/28/202678.00 NGN
1/27/202678.00 NGN
1/26/202678.00 NGN
1/23/202677.00 NGN
1/22/202677.00 NGN
1/21/202680.00 NGN
1/20/202680.15 NGN
1/19/202680.15 NGN
1/16/202683.50 NGN
1/15/202684.00 NGN
1/14/202686.00 NGN
1/13/202686.25 NGN
1/12/202683.20 NGN
1/9/202680.00 NGN
1/8/202680.00 NGN
1/7/202679.00 NGN
1/6/202678.00 NGN
1/5/202678.00 NGN
1/2/202674.80 NGN
12/31/202575.30 NGN
12/30/202575.30 NGN
12/29/202579.00 NGN
12/24/202579.35 NGN
12/23/202578.35 NGN
12/22/202579.50 NGN
12/19/202579.50 NGN
12/18/202576.70 NGN
12/17/202576.70 NGN
12/16/202576.70 NGN
12/15/202576.75 NGN
12/12/202582.40 NGN
12/11/202579.60 NGN
12/10/202574.00 NGN
12/9/202575.00 NGN
12/8/202575.00 NGN
12/5/202575.00 NGN
12/4/202570.00 NGN
12/3/202568.10 NGN
12/2/202567.05 NGN
12/1/202566.75 NGN
11/28/202566.75 NGN
11/27/202566.60 NGN
11/26/202566.00 NGN
11/25/202568.50 NGN
11/24/202568.50 NGN
11/21/202568.50 NGN
11/20/202568.50 NGN
11/19/202570.00 NGN
11/18/202570.00 NGN
11/17/202570.00 NGN
11/14/202570.00 NGN
11/13/202569.95 NGN
11/12/202566.00 NGN
11/11/202560.00 NGN
11/10/202565.20 NGN
11/7/202567.00 NGN
11/6/202570.00 NGN
11/5/202570.00 NGN
11/4/202570.00 NGN
11/3/202571.50 NGN
10/31/202571.50 NGN
10/30/202571.20 NGN
10/29/202571.00 NGN
10/28/202571.00 NGN
10/27/202571.00 NGN
10/24/202574.50 NGN
10/23/202570.00 NGN
10/22/202575.95 NGN
10/21/202576.05 NGN
10/20/202576.00 NGN
10/17/202576.00 NGN
10/16/202576.60 NGN
10/15/202576.60 NGN
10/14/202577.90 NGN
10/13/202579.45 NGN
10/10/202578.00 NGN
10/9/202577.85 NGN
10/8/202577.00 NGN
10/7/202577.00 NGN
10/6/202576.00 NGN
10/3/202576.00 NGN
10/2/202574.25 NGN
9/30/202573.00 NGN
9/29/202571.30 NGN
9/26/202575.50 NGN
9/25/202570.00 NGN
9/24/202570.00 NGN
9/23/202570.00 NGN
9/22/202570.15 NGN
9/19/202575.95 NGN
9/18/202571.40 NGN
9/17/202570.20 NGN
9/16/202570.00 NGN
9/15/202570.25 NGN
9/12/202570.25 NGN
9/11/202570.00 NGN
9/10/202569.95 NGN
9/9/202568.50 NGN
9/8/202568.50 NGN
9/4/202568.50 NGN
9/3/202566.00 NGN
9/2/202570.00 NGN
9/1/202570.20 NGN
8/29/202570.20 NGN
8/28/202570.50 NGN
8/27/202570.50 NGN
8/26/202570.00 NGN
8/25/202570.00 NGN
8/22/202570.00 NGN
8/21/202568.30 NGN
8/20/202568.30 NGN
8/19/202570.00 NGN
8/18/202571.50 NGN
Access this data via the Eulerpool API

Nigerian Breweries Revenue, EBIT, Net Income

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  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2021
437.29 B NGN
38.51 B NGN
12.67 B NGN
Jan 1, 2022
550.64 B NGN
51.06 B NGN
13.18 B NGN
Jan 1, 2023
599.64 B NGN
43.52 B NGN
-106.31 B NGN
Jan 1, 2024
1.08 T NGN
68.60 B NGN
-144.89 B NGN
Jan 1, 2025 (e)
1.53 T NGN
290.03 B NGN
72.12 B NGN
Jan 1, 2026 (e)
1.86 T NGN
353.36 B NGN
84.78 B NGN
Jan 1, 2027 (e)
2.20 T NGN
430.71 B NGN
104.38 B NGN
Jan 1, 2028 (e)
2.62 T NGN
0.00 NGN
0.00 NGN

Nigerian Breweries Income Statement, Balance Sheet, Cash Flow Statement

Last updated Aug 15, 2026, 10:43 PM
 
REVENUET NGN
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB NGN
EBITB NGN
EBIT MARGIN%
NET INCOMEB NGN
NET INCOME GROWTH%
DIV.NGN
DIV. GROWTH%
SHARESB
2015201620172018201920212022202320242025e2026e2027e2028e
0.290.310.340.320.320.440.550.601.081.531.862.202.62
6.759.81-5.85-0.4335.3825.928.9080.8541.2621.6018.1419.05
48.4743.2041.6539.1240.6336.6838.7435.4629.5029.5029.5029.5029.50
142.46135.53143.49126.90131.25160.41213.33212.61319.92451.92549.52649.19772.86
62.2352.9055.5336.8935.1938.5151.0643.5268.60290.03353.36430.71
21.1716.8616.1211.3710.898.819.277.266.3318.9318.9719.57
38.0628.4133.0419.4316.1012.6713.18-106.31-144.8972.1284.78104.38
-25.3316.29-41.19-17.15-21.344.08-906.4636.29-149.7717.5723.12
4.704.603.583.732.331.091.601.911.911.911.91
-2.13-22.174.19-37.53-53.2246.7919.37
7.909.919.9610.0010.0010.9111.2511.2512.0012.0012.0012.0012.00
Details

Income Statement Key Figures

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales Nigerian Breweries generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Nigerian Breweries retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Nigerian Breweries's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares Nigerian Breweries has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Nigerian Breweries's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

Nigerian Breweries stock margins

The Nigerian Breweries margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Nigerian Breweries. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Nigerian Breweries.
  • 3 Years

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  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2019
40.63 %
10.89 %
4.98 %
Jan 1, 2021
36.68 %
8.81 %
2.90 %
Jan 1, 2022
38.74 %
9.27 %
2.39 %
Jan 1, 2023
35.46 %
7.26 %
-17.73 %
Jan 1, 2024
29.50 %
6.33 %
-13.36 %
Jan 1, 2025 (e)
29.50 %
18.93 %
4.71 %
Jan 1, 2026 (e)
29.50 %
18.97 %
4.55 %
Jan 1, 2027 (e)
29.50 %
19.57 %
4.74 %

Nigerian Breweries Stock Revenue, EBIT, Earnings per Share

The Nigerian Breweries earnings per share therefore indicates how much revenue Nigerian Breweries has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.
  • 3 Years

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  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2019
32.31 NGN
3.52 NGN
1.61 NGN
Jan 1, 2021
40.09 NGN
3.53 NGN
1.16 NGN
Jan 1, 2022
48.93 NGN
4.54 NGN
1.17 NGN
Jan 1, 2023
53.29 NGN
3.87 NGN
-9.45 NGN
Jan 1, 2024
90.36 NGN
5.72 NGN
-12.07 NGN
Jan 1, 2025 (e)
127.64 NGN
24.17 NGN
6.01 NGN
Jan 1, 2026 (e)
155.21 NGN
29.44 NGN
7.06 NGN
Jan 1, 2027 (e)
183.36 NGN
35.89 NGN
8.70 NGN

Nigerian Breweries business model & stock analysis

Nigerian Breweries Eulerpool Fair Value

Details

Fair Value Estimate

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

Nigerian Breweries historical P/E ratio, EBIT multiple, and P/S ratio

Nigerian Breweries annual returns

Details

Annual Return

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

Nigerian Breweries shares outstanding

The number of shares of Nigerian Breweries was 12 B in 2025. This indicates how many shares Nigerian Breweries is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.
  • 3 Years

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  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2019
10.00 B Stocks
Jan 1, 2021
10.91 B Stocks
Jan 1, 2022
11.25 B Stocks
Jan 1, 2023
11.25 B Stocks
Jan 1, 2024
12.00 B Stocks
Jan 1, 2025 (e)
12.00 B Stocks
Jan 1, 2026 (e)
12.00 B Stocks
Jan 1, 2027 (e)
12.00 B Stocks

Nigerian Breweries stock splits

In Nigerian Breweries's history, there have been no stock splits.

Nigerian Breweries Dividend History

14 years of dividend payments

YearAnnual DividendYoY ChangePayments
20231.03NGN 35.6%
20221.60NGN 46.8%
20211.09NGN 38.1%
20201.76NGN 24.5%
20192.33NGN 37.5%
20183.73NGN 4.2%
20173.58NGN 22.2%
20164.60NGN 2.1%
20154.70NGN 18.3%
20145.75NGN 91.7%

Nigerian Breweries dividend history and estimates

In 2025, Nigerian Breweries paid a dividend amounting to 1.91 NGN. Dividend means that Nigerian Breweries distributes a portion of its profits to its owners.
  • 3 Years

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  • 10 Years

  • 25 Years

  • Max

Dividend
Dividend (Estimate)
Details
Date
Dividend
Dividend (Estimate)
Jan 1, 2018
3.73 NGN
0.00 NGN
Jan 1, 2019
2.33 NGN
0.00 NGN
Jan 1, 2021
1.09 NGN
0.00 NGN
Jan 1, 2022
1.60 NGN
0.00 NGN
Jan 1, 2023 (e)
1.03 NGN
0.88 NGN
Jan 1, 2025 (e)
0.00 NGN
1.91 NGN
Jan 1, 2026 (e)
0.00 NGN
1.91 NGN
Jan 1, 2027 (e)
0.00 NGN
1.91 NGN

Nigerian Breweries dividend payout ratio

In 2025, Nigerian Breweries had a payout ratio of 31.74%. The payout ratio indicates the percentage of the company's profits that Nigerian Breweries distributes as dividends.
  • 3 Years

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  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2019
107.16 %
Jan 1, 2021
69.53 %
Jan 1, 2022
101.18 %
Jan 1, 2023
-10.10 %
Jan 1, 2024
92.62 %
Jan 1, 2025 (e)
31.74 %
Jan 1, 2026 (e)
27.00 %
Jan 1, 2027 (e)
21.93 %

Current Nigerian Breweries forecasts and price targets in August 2026

Analyst Price Targets 2026
Δ MOM Price Target
0.05 %
Buy
77.78 % (14)
Hold
22.22 % (4)
Sell
0.00 % (0)
12M Price Target
89.43
Last Price
70.00
Currency
NGN
12M Return Potential
27.76 %
LTM Return
0 %

Nigerian Breweries shareholder structure

% Name
1.39849%
Redwheel
Redwheel
0.08033%
Eaton Vance Management
Eaton Vance Management

Nigerian Breweries Executives and Management Board

17 members · 41 % women

Management

HE

Mr. Hans Essaadi

Chief Executive Officer, Managing Director, Executive Director · since 2021

Board of Directors

JA

Mrs. Juliet Anammah

Non-Executive Independent Chairman of the Board

BB

Mr. Bernardus Wessels Boer

Finance Director, Executive Director · since 2022

UA

Mr. Uaboi Agbebaku

Executive Director, Company Secretary/Legal Director, Member of the Executive Committee · since 2003

AL

Mr. Ayodele Lawal

Sales Director, Member of the Executive Committee

EO

Mr. Emmanuel Oriakhi

Marketing Director, Member of the Executive Committee

GO

Mrs. Grace Omo-Lamai

Human Resource Director, Member of the Executive Committee

Frequently asked questions about Nigerian Breweries

Analysts currently set an average price target of 88.42 NGN for the Nigerian Breweries stock (median: 89.43 NGN), implying +26.3 % versus the latest price. The consensus is based on 18 analyst ratings.

18 analysts currently rate the Nigerian Breweries stock: 14 recommend buying, 4 holding and 0 selling. For 2026, analysts expect Nigerian Breweries to generate revenue of 1.86 T NGN and earnings per share of 7.06 NGN.

Converted at the current exchange rate, the Nigerian Breweries share trades at 0.05 EUR (71.50 NGN).

No history available for Nigerian Breweries.

The expected revenue of Nigerian Breweries is 1.86 T NGN. This figure is based on current financial data and reflects the company's business performance.

The expected profit of Nigerian Breweries is 84.78 B NGN. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of Nigerian Breweries is currently 10.12. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the Nigerian Breweries stock.

The price-to-sales ratio (P/S) of Nigerian Breweries is currently 0.46. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the Nigerian Breweries stock.

The Eulerpool Quality Score for Nigerian Breweries is 4/10.

The ISIN of Nigerian Breweries is NGNB00000005. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The ticker of Nigerian Breweries is NB.NL. The ticker symbol is used to trade Nigerian Breweries shares on the stock exchange.

Over the past 12 months, Nigerian Breweries paid a dividend of 1.03 NGN . This corresponds to a dividend yield of about 1.44 %. For the coming 12 months, Nigerian Breweries is expected to pay a dividend of 1.91 NGN.

The current dividend yield of Nigerian Breweries is 1.44 %.

Nigerian Breweries pays a dividend, distributed in the months of , , , .

Nigerian Breweries paid dividends every year for the past 0 years.

For the upcoming 12 months, dividends amounting to 1.91 NGN are expected. This corresponds to a dividend yield of 2.67 %.

Nigerian Breweries is assigned to the 'Non-cyclical consumption' sector.

To receive the latest dividend of Nigerian Breweries from amounting to 1.03 NGN, you needed to have the stock in your portfolio before the ex-date on .

The last dividend was paid out on .

The dividends of Nigerian Breweries are distributed in NGN.