ACCESSCORP
Investo's verdict, shared with you
No fair value published
The derivation ran and was refused by our own plausibility checks — so we publish no number rather than a plausible-looking one.
Why
The derivation failed our plausibility check
The computed value landed outside the 0.4×–2.5× band that real price targets occupy. A result that far from the traded price means one of our inputs is wrong, not that the market is wrong by that much — so we publish nothing rather than clamp it into range.
What we would need
- A per-share input (earnings or book value) that reconciles to the latest audited totals.
Show what the engine computed
Rejected figure · ₦80.14 — ceiling — raw base ₦80.14 is 2.67x price. This figure is shown only to document what was refused; it is not an estimate and no upside is computed from it.
Method spread · 1.34× between the highest and lowest valuation leg.
Failed plausibility rail · Fair value hit our plausibility bounds: ceiling — raw base ₦80.14 is 2.67x price. The published base is the rail, not a derivation.
Access Holdings trades at ₦30 — a 0.36x P/B and ~2.1x P/E against a group-level ROE of ~17% and a balance sheet that has scaled to ₦51.6tn in assets and ₦34.6tn in customer deposits — representing a material valuation discount that is partly rational given the structural complexity of a holdco mid-recapitalisation and partly a genuine mispricing. The CBN-mandated recapitalisation is actively diluting per-share metrics (BVPS and EPS are moving targets as share count rises), but the enlarged capital base, once deployed, should support earnings re-rating and dividend normalisation. The core investment case rests on franchise quality and post-recap earnings power, not on any single stale per-share anchor.
Verdict published 2026-09-05 · fundamentals through Q1-2026 · reviewed as the data changes
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.