CONOIL
Investo's verdict, shared with you
No fair value published
The derivation ran and was refused by our own plausibility checks. We publish no number rather than a plausible-looking one.
Why · 2 checks
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.
Implied earnings multiple is far from the peer group
At the computed value this company would trade at a P/E a long way from its sector median. Either the earnings input or the peer anchor is unreliable.
What we would need
- Earnings and book value drawn from the same set of accounts, so the two legs can be reconciled.
- A verified earnings figure, or a peer group with enough clean constituents to anchor against.
Show what the engine computed
Method spread · 3.37× between the highest and lowest valuation leg.
Methods disagree · The valuation legs disagree by 3.37x (Blended P/E band ₦63.92 vs Blended P/B band ₦215.17). No point estimate is defensible until the inputs are reconciled.
Implied P/E off peers · Implied P/E at base 34.81x is 2.88x the sector median 12.1x.
Conoil Plc is a downstream oil & gas distributor currently trading at ₦210, representing a ~93% premium to the engine's blended P/E-anchored base fair value of ₦109.29, with an FY2025 EPS of ₦3.14 implying a trailing P/E of ~66.9x against a sector median of 12.1x. While 2026 inter-period filings reveal a sharp earnings inflection (Q1+Q2 2026 combined EPS of ~₦13.05 annualised), the full-year quality of that recovery remains unaudited and the committee score registers net negative across quality and momentum factors, making the current price difficult to justify on any defensible multiple.
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 3.37x, so there is no defensible valuation behind an extreme call.
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.