Valuation
67
WAPCO · Lafarge Africa Plc
Accumulate Quality Compounder Quality 5/5Distress proxy: 106.70 (Safe)
Compare with another stock →
Composite score
74.5
Tier: Accumulate
Last close
₦310
As of latest snapshot
30-day ADV
₦2.31B
Liquidity signal
Market cap
₦4.77T
Industrial Goods
Financials
87
Technical
69
AI bottom line
WAPCO trades at a 28% discount to sector on P/E (14.9x vs 20.8x) while delivering superior quality with 40.7% ROE—well above the 31.6% median—and zero leverage, signaling material undervaluation of a high-return compounder. Monitor execution post-corporate name change to HBM Nigeria Plc and whether the 7.8% FCF yield translates to capital returns that might re-rate the 6.5x P/B premium.
Stock Snowflake 5-axis radar
Blue = WAPCO. Gold dash = Industrial Goods median. Bigger area = better across the five research dimensions.
What the model is seeing
- Trades at P/E 14.9x — about 28% below the Industrial Goods median of 20.8x.
- ROE of 40.7% — above Industrial Goods median of 31.6%.
- Net margin of 28.0% — robust pricing power and cost discipline.
Risk flags
No major risk flags
Price & trend
Close price with 50-day and 200-day moving averages, last 12 months.
Composite score history
How the model has rated this stock over the available history. Tier changes happen at 75 / 60 / 40.
Key metrics
Valuation
P/E ratio14.9x
P/B ratio6.5x
P/S ratio4.4x
EV/EBITDA9.5x
FCF yield7.8%
Financials
ROE40.7%
ROA23.5%
Net margin28.0%
FCF margin34.6%
Debt / Equity0.0x
Technical
Last close₦310
Above 50d MA-2.8%
Above 200d MA59.1%
ADX (trend)69.8
RSI28.2
Dividend history 10 fiscal years shown
All amounts are gross of Nigeria's 10% withholding tax on dividends. Bonus ratios are 'new shares for shares held'.
Current yield: 2.02% 5y DPS CAGR: +43.1% ↑ 10y CAGR: +7.2%
| FY | Interim DPS | Final DPS | Total cash | Bonus | Qualification | Payment |
|---|---|---|---|---|---|---|
| 2025 | — | ₦6.00 | ₦6.00 | — | 03 Apr 2026 | 30 Apr 2026 |
| 2024 | — | ₦1.20 | ₦1.20 | — | — | 25 Apr 2025 |
| 2023 | — | ₦1.90 | ₦1.90 | — | — | 26 Apr 2024 |
| 2022 | — | ₦2.00 | ₦2.00 | — | — | 28 Apr 2023 |
| 2021 | — | ₦1.00 | ₦1.00 | — | — | 21 Apr 2022 |
| 2020 | — | ₦1.00 | ₦1.00 | — | — | 25 May 2021 |
| 2019 | — | ₦1.00 | ₦1.00 | — | — | 03 Jun 2020 |
| 2017 | — | ₦1.50 | ₦1.50 | — | — | — |
| 2016 | — | ₦1.05 | ₦1.05 | — | — | — |
| 2015 | — | ₦3.00 | ₦3.00 | — | — | — |
Peers in Industrial Goods
Closest names by composite score within the same sector. Click a symbol to open its detail page.
| Symbol | Composite | P/E | P/B | ROE | Tier |
|---|---|---|---|---|---|
| CAP | 62.6 | 20.8x | 9.0x | 39.0% | Illiquid |
| BETAGLAS | 62.0 | 9.8x | 3.2x | 29.9% | Accumulate |
| BERGER | 61.6 | 22.4x | 7.9x | 31.6% | Accumulate |
| DANGCEM | 61.0 | 13.5x | 5.8x | 39.2% | Accumulate |
| MEYER | 58.9 | 21.5x | 4.5x | 19.1% | Stale |
| BUACEMENT | 51.9 | 28.4x | 13.6x | 53.1% | Neutral |
Recent news mentioning WAPCO
NGX corporate disclosures WAPCO · last 1
Plain-English summaries of every NGX filing for WAPCO, generated from the underlying PDFs by Claude Haiku. Click "Read the filing" to open the official document.
Other Disclosure
filed 23 Jun 2026
Lafarge Africa Plc has officially changed its corporate name to HBM Nigeria Plc, following shareholder approval at the AGM on 30 April 2026 and CAC registration. Existing share certificates and electronic holdings remain valid and will be automatically updated by registrars. The rebranding reflects evolved business vision and long-term growth strategy.