Nigerian BreweriesNSA:NB -1.09%64 Gross Margin % is 43.55% as of Mar. 2026, which is 13% above its 10-year median of 38.63. GuruFocus rates NSA:NB with a GF Score™ of 64/100 and a GF Value™ of ₦30.66 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 205 Beverages - Alcoholic companies, Nigerian Breweries ranks worse than 57.56% on this metric.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Nigerian Breweries had a gross margin of 43.55% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Nigerian Breweries Gross Margin % Related Terms
Nigerian Breweries Gross Margin % Historical Data
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The historical data trend for Nigerian Breweries's Gross Margin % 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 Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Nigerian Breweries's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Nigerian Breweries's Gross Margin % 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Nigerian Breweries (NSA:NB) has a Gross Margin % of 43.55% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Nigerian Breweries and its competitors. This is 13% above median its historical median of 38.63. Over the past decade, Nigerian Breweries' Gross Margin % has ranged from 29.50 to 43.20. According to the industry distribution chart, Nigerian Breweries ranks #118 out of 205 companies in the Beverages - Alcoholic industry, placing it in the top 57.6%.
Is Nigerian Breweries' Gross Margin % too high?
Nigerian Breweries' current Gross Margin % of 43.55% is 13% above median its 10-year median of 38.63. Over the past 10 years, this metric has ranged from a low of 29.50 to a high of 43.20. The Beverages - Alcoholic industry median Gross Margin % is 42.29. Nigerian Breweries' value of 43.55% is 3% above this industry median. Based on the distribution chart, Nigerian Breweries ranks #118 out of 205 companies in the Beverages - Alcoholic industry, which is below the industry midpoint. Overall, Nigerian Breweries has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nigerian Breweries' Gross Margin % compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Nigerian Breweries ranks #118 out of 205 companies for Gross Margin %. This places Nigerian Breweries in the lower half of its industry. The industry median Gross Margin % is 42.29. Nigerian Breweries' value of 43.55% is 3% above this benchmark. Historically, Nigerian Breweries' own Gross Margin % has ranged from 29.50 to 43.20 over the past decade. While the company's 10-year median is 38.63 vs. the industry median of 42.29, Nigerian Breweries 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 Gross Margin % for a Beverages - Alcoholic company?
The median Gross Margin % among Beverages - Alcoholic companies is 42.29, based on 205 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nigerian Breweries's current Gross Margin % of 43.55% is 3% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Nigerian Breweries and its competitors. For the Beverages - Alcoholic industry, the median Gross Margin % is 42.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nigerian Breweries's current Gross Margin % is 43.55%, which is 13% above median its own 10-year median of 38.63. 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 ₦30.66, compared to a current price of ₦72.50 — trading 136.5% above its estimated fair value. The current Gross Margin % is 43.55%, which is 13% above median its 10-year median of 38.63 and 3% above the Beverages - Alcoholic industry median of 42.29. Nigerian Breweries' overall GF Score™ is 64/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Nigerian Breweries (NSA:NB), the current Gross Margin % is 43.55% 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 Nigerian Breweries (NSA:NB) Overvalued in 2026?
Based on GuruFocus' analysis, Nigerian Breweries stock appears to be overvalued.
The current stock price of ₦72.50 is trading 136.5% above its estimated GF Value™ of ₦30.66.
GuruFocus considers Nigerian Breweries to be Significantly Overvalued.
Key valuation signals for NSA:NB:
Gross Margin %: 43.55% (13% above median its 10-year median of 38.63)
GF Value™: ₦30.66 vs. price of ₦72.50 (136.5% above fair value)
Industry Position: 3% above the Beverages - Alcoholic median (#118 of 205)
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.
64GF Score
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