ENAMELWA
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
The derivation failed our plausibility check
The computed value landed outside the 0.4×–2.5× band that real price targets occupy. A result that far from the traded price means one of our inputs is wrong, not that the market is wrong by that much — so we publish nothing rather than clamp it into range.
What we would need
- A per-share input (earnings or book value) that reconciles to the latest audited totals.
Show what the engine computed
Rejected figure · ₦13.43 — floor — raw base ₦13.43 is 0.33x price. This figure is shown only to document what was refused; it is not an estimate and no upside is computed from it.
Failed plausibility rail · Fair value hit our plausibility bounds: floor — raw base ₦13.43 is 0.33x price. The published base is the rail, not a derivation.
Enamelware Nigeria Plc presents a deeply distressed financial profile: negative total equity of ₦808.9 million, a pre-tax loss of ₦37.5 million in Q1-2027, and a stock trading at ₦40.7 — approximately 3x the model's raw fair-value estimate of ₦13.43 derived from peer-median P/B multiples. The company's balance sheet is technically insolvent on a book-value basis, and the loss of its Finance Director/CFO in July 2026 compounds an already fragile governance and financial control environment. At the current price, investors are paying a significant premium for a business with no demonstrated earnings power and structurally impaired equity.
Verdict published 2026-09-05 · fundamentals through Q1-2027 · reviewed as the data changes
Verdict moderated to Watch — Avoid was refused
Fair value hit our plausibility bounds, so there is no defensible valuation behind an extreme call.
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.