NCR
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 · ₦60.23 — floor — raw base ₦60.23 is 0.37x 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 ₦60.23 is 0.37x price. The published base is the rail, not a derivation.
NCR (Nigeria) Plc trades at a current market price of ₦161.2 (implied P/E of ~81.96x on filing-derived EPS of ₦1.97), a significant premium to the ICT sector peer-median of ~30.62x and to the engine's raw fair-value estimate of ₦60.23 — a ~63% implied downside that itself hit the credibility floor and must be treated as directionally indicative rather than precise. The balance sheet is deeply impaired with negative equity of ₦4.54bn against total assets of ₦7.35bn, rendering book-value analysis meaningless and elevating solvency risk materially. While H1 2026 revenue grew ~37.6% YoY and PAT improved sharply to ₦143.5m from ₦44.7m, these earnings are insufficient to justify the current market capitalisation of ₦17.4bn on any reasonable fundamental anchor.
Verdict published 2026-08-18 · fundamentals through Q2-2026 · 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.