ALEX
Investo's verdict, shared with you
Directional view only
There is a view, but the inputs behind it are too thin to stand behind a price target — so none is published.
Alex Picot (Nigeria) Plc trades at a steep 39% discount to book value (0.81x P/B vs. ₦12.20 BVPS) in a sector where the peer median is 1.84x, implying a mechanical valuation gap of ~127% to the model's base case of ₦22.43; however, this apparent cheapness is undermined by a loss-making Q3-2025 (PAT of -₦9.02mn), a deeply negative ROE of -33.6% to -10.98% (filing vs. our independent cross-check), and a filing attribution anomaly — the recent filings reference Aluminium Extrusion Industries PLC, not Alex Picot, raising a material data-integrity concern. The committee's overall 'cautious' scorecard (-1 net score, negative quality and risk factors) is well-founded and the honest read is that the valuation discount reflects fundamental distress, not an overlooked opportunity.
Verdict published 2026-09-05 · fundamentals through Q3-2025 · reviewed as the data changes
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.