Valuation Dangote Cement Plc

Equities

DANGCEM

NGDANGCEM008

Construction Materials

End-of-day quote Nigerian S.E. Other stock markets 15/01/2026			5-day change	1st Jan Change
635.00 ^NGN	0.00%		0.00%	+4.27%

11-25	Wall Street Continues to Shift
11-12	Nigeria's Dangote plans $1 billion investments in Zimbabwe	RE

Company Valuation: Dangote Cement Plc

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	4,173,220	4,369,079	4,403,999	5,359,014	8,020,932	10,637,618	10,637,618	-
Change	-	4.69%	0.8%	21.69%	49.67%	32.62%	0%	-
Enterprise Value (EV) ¹	4,173,220	4,617,397	4,855,802	5,359,014	10,234,842	12,660,408	12,131,578	11,849,688
Change	-	10.64%	5.16%	10.36%	90.98%	23.7%	-4.18%	-2.32%
P/E ratio	15.2x	12.1x	11.7x	-	16.1x	11x	9.11x	8.41x
PBR	4.76x	4.53x	4.18x	3.17x	3.78x	3.78x	3.31x	3.04x
PEG	-	0.4x	2.41x	-	-	0.1x	0.4x	1.01x
Capitalization / Revenue	4.04x	3.16x	2.72x	2.43x	2.24x	2.42x	2.09x	1.84x
EV / Revenue	4.04x	3.34x	3x	2.43x	2.86x	2.88x	2.38x	2.06x
EV / EBITDA	8.73x	6.74x	6.86x	6.05x	7.41x	6.59x	5.27x	4.89x
EV / EBIT	10.8x	7.93x	8.29x	7.3x	8.88x	7.68x	6.07x	5.46x
EV / FCF	13.8x	10.5x	15.5x	9.95x	25.1x	13.2x	9.5x	8.21x
FCF Yield	7.22%	9.49%	6.45%	10%	3.98%	7.58%	10.5%	12.2%
Dividend per Share ²	16	20	20	30	30	52.24	54.58	67.82
Rate of return	6.53%	7.78%	7.66%	9.38%	6.27%	8.23%	8.6%	10.7%
EPS ²	16.14	21.24	22.27	-	29.74	57.94	69.73	75.52
Distribution rate	99.1%	94.2%	89.8%	-	101%	90.2%	78.3%	89.8%
Net sales ¹	1,034,196	1,383,637	1,618,323	2,208,090	3,580,550	4,398,816	5,088,886	5,765,806
EBITDA ¹	478,122	684,595	708,238	886,129	1,382,016	1,920,954	2,300,769	2,420,851
EBIT ¹	386,734	582,491	585,876	734,267	1,152,042	1,648,672	1,997,380	2,169,478
Net income ¹	-	361,008	375,988	445,214	498,192	968,446	1,160,577	1,274,167
Net Debt ¹	-	248,318	451,803	-	2,213,910	2,022,790	1,493,960	1,212,070
Reference price ²	244.90	257.00	261.00	319.90	478.80	635.00	635.00	635.00
Nbr of stocks (in thousands)	17,040,507	17,000,307	16,873,559	16,752,155	16,752,155	16,752,155	16,752,155	-
Announcement Date	23/03/21	01/03/22	27/02/23	01/03/24	01/03/25	-	-	-

¹NGN in Million²NGN

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
DANGOTE CEMENT PLC	10.96x	2.88x	6.59x	8.23%	7.49B
HOLCIM LTD	25.08x	2.92x	11.77x	2.14%	53.31B
ANHUI CONCH CEMENT COMPANY LIMITED	12.62x	0.78x	3.59x	3.89%	16.6B
JAMES HARDIE INDUSTRIES PLC	38.2x	3.71x	14.51x	-.--%	13.38B
SHREE CEMENT LIMITED	52.6x	4.55x	19.23x	0.49%	11.01B
BUZZI SPA	11.38x	1.83x	6.98x	1.5%	10.87B
EAGLE MATERIALS INC.	17.21x	3.82x	11.18x	0.44%	7.43B
HUAXIN BUILDING MATERIALS GROUP CO., LTD.	17.2x	1.64x	6.67x	2.27%	6.22B
TCC GROUP HOLDINGS CO., LTD.	78.7x	1.9x	8.81x	3.95%	5.92B
TIANSHAN MATERIAL CO., LTD.	49.73x	-	-	-	5.58B
Average	31.37x	2.67x	9.93x	2.54%	13.78B
Weighted average by Cap.	27.72x	2.72x	10.55x	2.29%