AFRIPRUD
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
Our valuation methods disagree
The earnings-based and book-based readings of this company differ by more than 2.5×. That spread is real information, but averaging it would manufacture a number no method actually produced.
What we would need
- Earnings and book value drawn from the same set of accounts, so the two legs can be reconciled.
Show what the engine computed
Method spread · 3.63× between the highest and lowest valuation leg.
Methods disagree · The valuation legs disagree by 3.63x (Blended P/E band ₦14.38 vs Blended P/B band ₦8.2 vs Justified P/B ₦3.96). No point estimate is defensible until the inputs are reconciled.
Africa Prudential Plc is a profitable, asset-light registrar and share-registry business generating an ROE of ~21.7% (FY2025) with a meaningful interest income engine (H1 2026 interest income ₦3.46bn) — but at ₦11.35 the stock trades at 3.63x P/B against a BVPS of ₦3.13, a premium that is difficult to defend when the primary P/B valuation method yields a fair value of ₦8.20 and the justified P/B (ROE 21.7%, CoE 18%, g 4%) implies only ₦3.96. The committee score is net-negative (-2, 'cautious') across value, quality, and momentum factors, with income the sole positive, and the three valuation legs disagree by 3.63x — leaving confidence low (score 54) and no single defensible point estimate.
Verdict published 2026-09-05 · fundamentals through Q2-2026 · reviewed as the data changes
Verdict moderated to Watch — Avoid was refused
The valuation legs disagree by 3.63x, so there is no defensible valuation behind an extreme call.
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.