CUTIX

Cutix Plc, a wire and cable manufacturer on the NGX, trades at ₦2.35 against a blended fair value base of ₦2.61 (P/E 70% weight, P/B 30% weight), implying modest ~11% upside to intrinsic value; however, the committee score flags negative quality and momentum factors, and a mid-period auditor resignation introduces a governance overhang that materially clouds near-term conviction. The business retains a structurally attractive ROE of ~29% (FY2026) relative to a book value of only ₦0.50/share, but Q2 FY2027 net margin of ~2.6% on ₦4.1bn revenue — yielding PAT of just ₦107m — signals significant margin compression versus the historical profile (FY2022 EPS of ₦0.22 vs. current trailing ₦0.15), making earnings quality the central debate.

Verdict published 2026-09-05 · fundamentals through Q1-2027 · reviewed as the data changes