Nigerian BreweriesNSA:NB -1.09%64 PB Ratio is 3.64 as of Jun. 28, 2026, which is 10% above its 10-year median of 3.32. 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 82.93% on this metric.
Nigerian Breweries PLC stock PB Ratio (=3.64) is close to 1-year low of 3.52.
The historical rank and industry rank for Nigerian Breweries's PB Ratio or its related term are showing as below:
NSA:NB'
s PB Ratio Range Over the Past 10 Years
Min: 1.02 Med: 3.32 Max: 28.51
Current: 3.64
During the past 13 years, Nigerian Breweries's highest PB Ratio was 28.51. The lowest was 1.02. And the median was 3.32.
NSA:NB's PB Ratio is ranked worse than 82.93% of 205
companies
in the Beverages - Alcoholic industry
Industry Median: 1.66
vs NSA:NB: 3.64
During the past 12 months, Nigerian Breweries's average Book Value Per Share Growth Rate was 21.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 3.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -0.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -2.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Nigerian Breweries was 34.10% per year. The lowest was -27.40% per year. And the median was 1.40% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Nigerian Breweries PB Ratio Related Terms
Nigerian Breweries PB Ratio Historical Data
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The historical data trend for Nigerian Breweries's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Nigerian Breweries's PB Ratio distribution charts can be found below:
* The bar in red indicates where Nigerian Breweries's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Nigerian Breweries (NSA:NB) has a PB Ratio of 3.64 as of Jun. 28, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Nigerian Breweries and its competitors. This is 10% above median its historical median of 3.32. Over the past decade, Nigerian Breweries' PB Ratio has ranged from 1.02 to 28.51. According to the industry distribution chart, Nigerian Breweries ranks #170 out of 205 companies in the Beverages - Alcoholic industry, placing it in the top 82.9%.
Is Nigerian Breweries' PB Ratio too high?
Nigerian Breweries' current PB Ratio of 3.64 is 10% above median its 10-year median of 3.32. Over the past 10 years, this metric has ranged from a low of 1.02 to a high of 28.51. The Beverages - Alcoholic industry median PB Ratio is 1.66. Nigerian Breweries' value of 3.64 is 119.3% above this industry median. Based on the distribution chart, Nigerian Breweries ranks #170 out of 205 companies in the Beverages - Alcoholic industry, which is in the bottom quartile relative to peers. 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' PB Ratio compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Nigerian Breweries ranks #170 out of 205 companies for PB Ratio. This places Nigerian Breweries in the lower half of its industry. The industry median PB Ratio is 1.66. Nigerian Breweries' value of 3.64 is 119.3% above this benchmark. Historically, Nigerian Breweries' own PB Ratio has ranged from 1.02 to 28.51 over the past decade. While the company's 10-year median is 3.32 vs. the industry median of 1.66, 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 PB Ratio for a Beverages - Alcoholic company?
The median PB Ratio among Beverages - Alcoholic companies is 1.66, based on 205 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nigerian Breweries's current PB Ratio of 3.64 is 119.3% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Nigerian Breweries and its competitors. For the Beverages - Alcoholic industry, the median PB Ratio is 1.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nigerian Breweries's current PB Ratio is 3.64, which is 10% above median its own 10-year median of 3.32. 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 PB Ratio is 3.64, which is 10% above median its 10-year median of 3.32 and 119.3% above the Beverages - Alcoholic industry median of 1.66. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Nigerian Breweries (NSA:NB), the current PB Ratio is 3.64 as of Jun. 28, 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:
PB Ratio: 3.64 (10% above median its 10-year median of 3.32)
GF Value™: ₦30.66 vs. price of ₦72.50 (136.5% above fair value)
Industry Position: 119.3% above the Beverages - Alcoholic median (#170 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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