Nestle NigeriaNSA:NESTLE 76 Piotroski F-Score is 7 as of Jun. 25, 2026, which is 40% above its 10-year median of 5.00. GuruFocus rates NSA:NESTLE with a GF Score™ of 76/100 and a GF Value™ of ₦2,149.87 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,912 Consumer Packaged Goods companies, Nestle Nigeria ranks better than 88.6% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Nestle Nigeria has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Nestle Nigeria's Piotroski F-Score or its related term are showing as below:
NSA:NESTLE'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 9
Current: 7
During the past 13 years, the highest Piotroski F-Score of Nestle Nigeria was 9. The lowest was 3. And the median was 5.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Nestle Nigeria Piotroski F-Score Related Terms
Nestle Nigeria Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Nestle Nigeria's Piotroski F-Score 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.
NSA:NESTLE vs KHC, GIS, JBS: Piotroski F-Score Comparison
For the Packaged Foods subindustry, Nestle Nigeria's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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.
Nestle Nigeria Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Nestle Nigeria's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Nestle Nigeria's Piotroski F-Score 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 20392.03 + 21912.017 + 32483.92 + 38997.859 = ₦113,786 Mil. Cash Flow from Operations was 73240.445 + 60810.589 + 115087.402 + 56881.253 = ₦306,020 Mil. Revenue was 286234.254 + 303417.847 + 323236.182 + 326126.755 = ₦1,239,015 Mil. Gross Profit was 105230.581 + 101923.154 + 109016.128 + 132057.947 = ₦448,228 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(898924.297 + 899744.73 + 847296.203 + 846159.936 + 888106.448) / 5 = ₦876046.3228 Mil. Total Assets at the begining of this year (Mar25) was ₦898,924 Mil. Long-Term Debt & Capital Lease Obligation was ₦438,826 Mil. Total Current Assets was ₦339,818 Mil. Total Current Liabilities was ₦391,836 Mil.
Net Income was -34229.99 + -7356.367 + 19675.74 + 30178.034 = ₦8,267 Mil.
Revenue was 223488.013 + 258317.589 + 293524.978 + 294884.799 = ₦1,070,215 Mil. Gross Profit was 78235.71 + 79007.456 + 100042.919 + 119721.571 = ₦377,008 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(775540.117 + 868952.716 + 914971.689 + 858698.352 + 898924.297) / 5 = ₦863417.4342 Mil. Total Assets at the begining of last year (Mar24) was ₦775,540 Mil. Long-Term Debt & Capital Lease Obligation was ₦547,258 Mil. Total Current Assets was ₦382,611 Mil. Total Current Liabilities was ₦409,537 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Nestle Nigeria's current Net Income (TTM) was 113,786.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Nestle Nigeria's return on assets of this year was 0.12657999. Nestle Nigeria's return on assets of last year was 0.01066021.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Nestle Nigeria's gearing of this year was 0.50091622. Nestle Nigeria's gearing of last year was 0.63382839.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Nestle Nigeria's current ratio of this year was 0.86724573. Nestle Nigeria's current ratio of last year was 0.93425077.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Nestle Nigeria's number of shares in issue this year was 792.656. Nestle Nigeria's number of shares in issue last year was 792.656.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Nestle Nigeria's gross margin of this year was 0.3617614. Nestle Nigeria's gross margin of last year was 0.3522727.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Nestle Nigeria's asset turnover of this year was 1.37833079. Nestle Nigeria's asset turnover of last year was 1.37996134.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
1
+
1
+
1
+
0
+
1
+
1
+
0
=
7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Nestle Nigeria has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Nestle Nigeria (NSA:NESTLE) has a Piotroski F-Score of 7 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Nestle Nigeria and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, Nestle Nigeria's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Nestle Nigeria ranks #218 out of 1912 companies in the Consumer Packaged Goods industry, placing it in the top 11.4%.
Is Nestle Nigeria's Piotroski F-Score too high?
Nestle Nigeria's current Piotroski F-Score of 7 is 40% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. Nestle Nigeria's value of 7 is 40% above this industry median. Based on the distribution chart, Nestle Nigeria ranks #218 out of 1912 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Nestle Nigeria has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nestle Nigeria's Piotroski F-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Nestle Nigeria ranks #218 out of 1912 companies for Piotroski F-Score. This places Nestle Nigeria in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Nestle Nigeria's value of 7 is 40% above this benchmark. Historically, Nestle Nigeria's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Nestle Nigeria has consistently been above 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 Piotroski F-Score for a Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,912 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nestle Nigeria's current Piotroski F-Score of 7 is 40% 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Nestle Nigeria and its competitors. For the Consumer Packaged Goods industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nestle Nigeria's current Piotroski F-Score is 7, which is 40% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nestle Nigeria stock overvalued right now?
Based on GuruFocus' analysis, Nestle Nigeria (NSA:NESTLE) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2,149.87, compared to a current price of ₦3,125.00 — trading 45.4% above its estimated fair value. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 40% above the Consumer Packaged Goods industry median of 5.00. Nestle Nigeria's overall GF Score™ is 76/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Nestle Nigeria (NSA:NESTLE), the current Piotroski F-Score is 7 as of Jun. 25, 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 Nestle Nigeria (NSA:NESTLE) Overvalued in 2026?
Based on GuruFocus' analysis, Nestle Nigeria stock appears to be overvalued.
The current stock price of ₦3,125.00 is trading 45.4% above its estimated GF Value™ of ₦2,149.87.
GuruFocus considers Nestle Nigeria to be Significantly Overvalued.
Key valuation signals for NSA:NESTLE:
Piotroski F-Score: 7 (40% above median its 10-year median of 5.00)
GF Value™: ₦2,149.87 vs. price of ₦3,125.00 (45.4% above fair value)
Industry Position: 40% above the Consumer Packaged Goods median (#218 of 1912)
No single metric tells the full story. See the NSA:NESTLE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nestle Nigeria PLC is a food and beverage company. It is involved in the business of manufacturing, marketing, and distribution of food products. The firm has categorized its products into Baby foods, Coffee, Culinary, Dairy, Drinks, and Recipes. It develops and markets its products under brands such as Cerelac, Nescafe, Nido, Maggi, Milo, etc. The company has Food and Beverage reportable segments. The Food segment engaged in the production and sale of Maggi, Cerelac, SMA, Nan, Lactogen, and Golden Morn. The Beverage segment consists of the production and sale of Milo, Chocomilo, Nido, Nescafe, Milo ready-to-drink, and Nestle Pure Life. The Food segment generates the majority of the revenue. Geographically, the majority of the revenue is generated from Nigeria.
76GF Score
Get the complete analysis for NSA:NESTLE
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSA:NESTLE has been successfully added to your 
