FIDSON
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 book multiple is far from the peer group
At the computed value this company would trade at a P/B a long way from its sector median. Either the book-value 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 book value per share, or a peer group with enough clean constituents.
Show what the engine computed
Method spread · 3.86× between the highest and lowest valuation leg.
Methods disagree · The valuation legs disagree by 3.86x (Blended P/E band ₦55.52 vs Blended P/B band ₦214.08). No point estimate is defensible until the inputs are reconciled.
Implied P/B off peers · Implied P/B at base 4x is 0.38x the sector median 10.58x.
Fidson Healthcare is a profitable, domestically-oriented Nigerian pharma manufacturer delivering meaningful top-line and earnings growth — H1 2026 revenue of ₦74.5bn represents 17.2% YoY expansion, a…
Verdict moderated to Watch — Avoid was refused
Committee scores Value POSITIVE (overall strong); an "avoid" against our own committee is not publishable without a re-derivation.
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.