NEIMETH

Neimeth International Pharmaceuticals has staged a credible earnings recovery, swinging from three consecutive years of losses (FY2022–FY2024) to a derived FY2025 EPS of ₦0.51 and a 34.4% ROE, supported by Q2-2026 revenue of ₦3.66bn and a positive PBT of ₦226m. However, at ₦7.30 the stock trades within a whisker of our base fair value of ₦7.31, leaving virtually no margin of safety on a blended P/E and P/B methodology, and the committee's rules-based scorecard flags negative value and negative momentum signals that temper enthusiasm. The quality turnaround is real but the current price already reflects it, making fresh accumulation difficult to justify without a pullback.

Verdict published 2026-10-26 · fundamentals through Q3-2026 · reviewed as the data changes