HONYFLOUR

Honeywell Flour Mills has executed a decisive profitability turnaround, swinging from a loss-making FY2024 (EPS -₦1.28) to a reported Q1-FY2026 annualised EPS of ₦2.08 and a 27% ROE, while the stock at ₦19.65 trades at only 9.45x earnings against a Consumer Goods sector median of 17.41x — implying an 84% discount to our base fair value of ₦36.20. The combination of genuine earnings recovery, compressed multiples, and a positive committee score (Value: positive, Quality: positive) supports a high-conviction constructive view at current levels.

Verdict published 2026-10-26 · fundamentals through Q1-2026 · reviewed as the data changes