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International BreweriesNSA:IBP 44 Degree of Operating Leverage is 15.16 as of Mar. 2026. GuruFocus rates NSA:IBP with a GF Score™ of 44/100 and a GF Value™ of ₦2.37 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 205 Beverages - Alcoholic companies, International Breweries ranks worse than 82.44% on this metric.
Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue.
International Breweries's Degree of Operating Leverage for the quarter that ended in Mar. 2026 was 15.16. The higher Degree of Operating Leverage, the higher operating risk the company will take.
The industry rank for International Breweries's Degree of Operating Leverage or its related term are showing as below:
NSA:IBP's Degree of Operating Leverage is ranked worse than 82.44% of 205
companies
in the Beverages - Alcoholic industry
Industry Median: 1.53
vs NSA:IBP: 15.16
International Breweries (NSA:IBP) Degree of Operating Leverage Explanation
Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.
A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.
Be Aware
The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.
International Breweries Degree of Operating Leverage Related Terms
International Breweries Degree of Operating Leverage Historical Data
* Premium members only.
The historical data trend for International Breweries's Degree of Operating Leverage can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
International Breweries Degree of Operating Leverage Chart
NSA:IBP vs STZ, TAP: Degree of Operating Leverage Comparison
For the Beverages - Brewers subindustry, International Breweries's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
International Breweries Degree of Operating Leverage vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, International Breweries's Degree of Operating Leverage distribution charts can be found below:
* The bar in red indicates where International Breweries's Degree of Operating Leverage falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
What does a Degree of Operating Leverage of 15.16 mean?
International Breweries (NSA:IBP) has a Degree of Operating Leverage of 15.16 as of Mar. 2026. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for International Breweries and its competitors. According to the industry distribution chart, International Breweries ranks #169 out of 205 companies in the Beverages - Alcoholic industry, placing it in the top 82.4%.
Is International Breweries' Degree of Operating Leverage too high?
International Breweries' current Degree of Operating Leverage is 15.16. The Beverages - Alcoholic industry median Degree of Operating Leverage is 1.53. International Breweries' value of 15.16 is 890.8% above this industry median. Based on the distribution chart, International Breweries ranks #169 out of 205 companies in the Beverages - Alcoholic industry, which is in the bottom quartile relative to peers. Overall, International Breweries has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does International Breweries' Degree of Operating Leverage compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, International Breweries ranks #169 out of 205 companies for Degree of Operating Leverage. This places International Breweries in the lower half of its industry. The industry median Degree of Operating Leverage is 1.53. International Breweries' value of 15.16 is 890.8% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for a Beverages - Alcoholic company?
The median Degree of Operating Leverage among Beverages - Alcoholic companies is 1.53, based on 205 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. International Breweries's current Degree of Operating Leverage of 15.16 is 890.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for International Breweries and its competitors. For the Beverages - Alcoholic industry, the median Degree of Operating Leverage is 1.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. International Breweries's current Degree of Operating Leverage is 15.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Breweries stock overvalued right now?
Based on GuruFocus' analysis, International Breweries (NSA:IBP) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2.37, compared to a current price of ₦10.00 — trading 321.9% above its estimated fair value. The current Degree of Operating Leverage is 15.16 and 890.8% above the Beverages - Alcoholic industry median of 1.53. International Breweries' overall GF Score™ is 44/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For International Breweries (NSA:IBP), the current Degree of Operating Leverage is 15.16 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is International Breweries (NSA:IBP) Overvalued in 2026?
Based on GuruFocus' analysis, International Breweries stock appears to be overvalued.
The current stock price of ₦10.00 is trading 321.9% above its estimated GF Value™ of ₦2.37.
GuruFocus considers International Breweries to be Significantly Overvalued.
Key valuation signals for NSA:IBP:
Degree of Operating Leverage: 15.16
GF Value™: ₦2.37 vs. price of ₦10.00 (321.9% above fair value)
Industry Position: 890.8% above the Beverages - Alcoholic median (#169 of 205)
No single metric tells the full story. See the NSA:IBP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
International Breweries PLC engages in brewing, packaging, and marketing beer, alcoholic flavored/non-alcoholic beverages, and soft drinks in Nigeria. The company offers its products under the Trophy Lager, Trophy Black, Castle Milk Stout, Castle Lager, Redds, Hero, Grand Malt, Betamalt malt drink, and Voltic Water brands.
44GF Score
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