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Nigerian BreweriesNSA:NB -2.10%77 EV-to-OCF is 6.31 as of Aug. 12, 2026, which is 44% below its 10-year median of 11.25. GuruFocus rates NSA:NB with a GF Score™ of 77/100 and a GF Value™ of ₦42.81 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 212 Beverages - Alcoholic companies, Nigerian Breweries ranks better than 65.09% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Nigerian Breweries's Enterprise Value is ₦2,094,186 Mil.
Nigerian Breweries's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was ₦332,062 Mil. Therefore, Nigerian Breweries's EV-to-OCF for today is 6.31.
The historical rank and industry rank for Nigerian Breweries's EV-to-OCF or its related term are showing as below:
NSA:NB'
s EV-to-OCF Range Over the Past 10 Years
Min: -23.1 Med: 11.25 Max: 36.9
Current: 6.31
During the past 13 years, the highest EV-to-OCF of Nigerian Breweries was 36.90. The lowest was -23.10. And the median was 11.25.
NSA:NB's EV-to-OCF is ranked better than 65.09% of 212
companies
in the Beverages - Alcoholic industry
Industry Median: 9.61
vs NSA:NB: 6.31
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Nigerian Breweries's PE Ratio (TTM) for today is calculated as:
Nigerian Breweries's share price for today is ₦70.00.
Nigerian Breweries's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₦5.150.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Nigerian Breweries EV-to-OCF Related Terms
Nigerian Breweries EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Nigerian Breweries's EV-to-OCF 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.
For the Beverages - Brewers subindustry, Nigerian Breweries's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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.
Nigerian Breweries EV-to-OCF vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Nigerian Breweries's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Nigerian Breweries's EV-to-OCF falls into.
Nigerian Breweries's current Enterprise Value is ₦2,094,186 Mil.
Nigerian Breweries's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₦332,062 Mil.
* 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.
Nigerian Breweries (NSA:NB) has a EV-to-OCF of 6.31 as of Aug. 12, 2026. This is 44% below median its historical median of 11.25. According to the industry distribution chart, Nigerian Breweries ranks #74 out of 212 companies in the Beverages - Alcoholic industry, placing it in the top 34.9%.
Is Nigerian Breweries' EV-to-OCF too high?
Nigerian Breweries' current EV-to-OCF of 6.31 is 44% below median its 10-year median of 11.25. The Beverages - Alcoholic industry median EV-to-OCF is 9.61. Nigerian Breweries' value of 6.31 is 34.3% below this industry median. Based on the distribution chart, Nigerian Breweries ranks #74 out of 212 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, Nigerian Breweries has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nigerian Breweries' EV-to-OCF compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Nigerian Breweries ranks #74 out of 212 companies for EV-to-OCF. This puts Nigerian Breweries in the upper half of its industry. The industry median EV-to-OCF is 9.61. Nigerian Breweries' value of 6.31 is 34.3% below this benchmark. While the company's 10-year median is 11.25 vs. the industry median of 9.61, Nigerian Breweries has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Beverages - Alcoholic company?
The median EV-to-OCF among Beverages - Alcoholic companies is 9.61, based on 212 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nigerian Breweries's current EV-to-OCF of 6.31 is 34.3% below 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Beverages - Alcoholic industry, the median EV-to-OCF is 9.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nigerian Breweries's current EV-to-OCF is 6.31, which is 44% below median its own 10-year median of 11.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nigerian Breweries stock overvalued right now?
Based on GuruFocus' analysis, Nigerian Breweries (NSA:NB) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦42.81, compared to a current price of ₦70.00 — trading 63.5% above its estimated fair value. The current EV-to-OCF is 6.31, which is 44% below median its 10-year median of 11.25 and 34.3% below the Beverages - Alcoholic industry median of 9.61. Nigerian Breweries' overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Nigerian Breweries (NSA:NB), the current EV-to-OCF is 6.31 as of Aug. 12, 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 Nigerian Breweries (NSA:NB) Overvalued in 2026?
Based on GuruFocus' analysis, Nigerian Breweries stock appears to be overvalued.
The current stock price of ₦70.00 is trading 63.5% above its estimated GF Value™ of ₦42.81.
GuruFocus considers Nigerian Breweries to be Significantly Overvalued.
Key valuation signals for NSA:NB:
EV-to-OCF: 6.31 (44% below median its 10-year median of 11.25)
GF Value™: ₦42.81 vs. price of ₦70.00 (63.5% above fair value)
Industry Position: 34.3% below the Beverages - Alcoholic median (#74 of 212)
No single metric tells the full story. See the NSA:NB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nigerian Breweries PLC is a Brewing firm. The company's principal activities are brewing, marketing, and selling lager, stout, non-alcoholic malt, and soft drinks. Geographically, it derives a majority of its revenue from Nigeria and also has a presence in the United Kingdom, the Netherlands, the United States of America, Canada, some parts of Africa, and parts of the Middle East and Asia. The company's brands include Star, Goldberg, Turbo King, Ace Bitters, Gulder, Maltina, Legend Extra Stout, Amstel Malta, Heineken, Maltina Sip-it, Fayrouz, Goldberg, Malta Gold, and others.
77GF Score
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