CWG
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 · 2.78× between the highest and lowest valuation leg.
Methods disagree · The valuation legs disagree by 2.78x (Blended P/E band ₦44.02 vs Blended P/B band ₦15.84). No point estimate is defensible until the inputs are reconciled.
CWG Plc is a Nigerian ICT services company delivering exceptional profitability metrics — ROE of ~50% (independent data source: 54.6%), EPS growth from ₦0.19 in FY2022 to ₦1.97 in FY2025, and H1 2026 group revenue of ₦44.4bn (+20.7% YoY) — yet trades at only 9.85x trailing P/E against a sector median of 27.83x, implying a significant valuation discount relative to quality. The committee score rates quality, value, income, and risk as positive, with only momentum flagged negative, suggesting the market has not yet re-rated the stock to reflect its earnings trajectory. At ₦19.4 with a base fair value estimate of ₦35.57 (83% upside), the risk/reward is skewed to the upside, but low model confidence (score: 59) and a severe internal valuation disagreement demand a disciplined position size.
Verdict published 2026-09-05 · fundamentals through Q2-2026 · reviewed as the data changes
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.