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Top 10 Companies in Nigeria With Highest Earnings Per Share

In the first half of 2023, many Nigerian companies surmounted economic obstacles, with Fidelity Bank, Seplat Energy, Total Energy, and Okomu Oil being the top Nigerian corporations with the highest earnings per share on the Nigerian Exchange Limited as of August 2023.

Nigeria’s economy encountered difficult times in 2023, as most individuals and businesses struggled with high living costs, while firms saw a surge in production costs due to the withdrawal of petrol subsidies, which drove costs through the ceiling.

However, companies in Nigeria managed to stay afloat despite a tough first half year.

Some businesses have yet to release their half-year financial results. According to a research, Fidelity Bank, Seplat Energy, Total Energies, Okomu Oil, Presco, Dangote Cement, MTN Nigeria, BUA Foods, FCMB, and Geregu Power are some of the Nigerian companies with the greatest earnings per share.

Earnings per share (EPS) is calculated by dividing a company’s net profit by the number of outstanding common shares.

Earnings per share also indicates how much money a firm makes per share of stock and is a popular indicator for determining corporate value.

Higher earnings per share demonstrate excellent value since investors will pay for a company’s share if they believe its profits exceed its share price.

1. Fidelity Bank

In the first half of 2023, the bank earned N184 per share, up from N79 in the same time in 2022.

As of 12.59 p.m. on Friday, the company’s outstanding shares were 32.01 million, with a price of N7 and a volume of 32.15 million.

Fidelity Bank’s earnings for the time increased from N22.84 billion in 2022 to N53.5 billion in the first half of 2023.

The bank’s earnings for the first half of 2023 was N53.3 billion, up from N22.84 billion in the same period in 2022.

2. Seplat Energy

The oil company earned N37.6 million in the first half of 2023, down from N58.19 million in the same period in 2022.

As of Friday, August 24, 2023, the company’s outstanding shares were 588.44 million, with a share price of N1,670.8 and a trading volume of 139,942.

Earnings per share increased from N35.45 billion in H1 2022 to N42.03 billion in H1 2023.

Cash and cash equivalents increased to N286.67 billion in the first half of 2023, up from N145.48 billion the previous year.

 

3. Total Energies

Earnings per share for the oil company increased to N25.88 in the first half of 2023, up from N25.12 in the first half of 2023.

As of Friday, August 24, 2023, the company’s outstanding shares were 339.52 million, with a price of N385 and a trading volume of 95,298.

Seplat’s profit after tax increased to N8.79 billion from N8.53 billion in the previous period.

The company’s cash and cash equivalents climbed from N64.73 billion in 2022 to N111.69 billion in the first half of 2023.

Total Energies’ cash and cash equivalents climbed from N64.73 billion in 2022 to N111.69 billion in the first half of 2023.

 

4. Okomu oil

In the first half of 2023, the company earned N16.98 per share, down from N17.65 in the same period last year.

The number of outstanding shares in the corporation is 953.91 million, with a price of N250 and a traded volume of 149,029.

Profit after tax fell 4% to N16.2 billion in the first half of 2023, from N16.84 billion in 2022.

The palm oil company’s cash and cash equivalents fell 53.3% to N8.34 billion in the first half of 2023, from 17.85 billion in the first half of 2022.

 

5. Presco

It earned N15.1 per share in the first half of 2023, up from N13.47 in the first half of 2022.

The number of outstanding shares is one billion. As of Friday, it had a share price of N220 and a trading volume of 40,595 units.

Presco’s earnings after tax climbed by 12% to N15.08 billion in H1 2023, up from N13.47 billion in H1 2022.

Its cash and cash equivalents were N17.71 billion in H1 2023, a 2% rise from N17.37 billion the previous year.

 

6. Dangote Cement

In the first half of 2023, Africa’s largest cement firm earned N10.39 per share, up from N10.1 in the first half of 2022.

As of Friday, the company’s shares outstanding were 17.04 billion, with a price of N360 and a traded volume of 96,931.

The corporation earned N178.6 billion in profit after tax in the first half of 2023, up from N172.1 billion in H1 2022.

At the end of the period, the cement company’s cash and cash equivalents climbed to N303.03 billion, up from N108.89 billion in the previous months.

 

7. MTN Nigeria

In the first half of 2023, the telecommunications business recorded earnings per share of N6.33, down from N8.95 in the same time in 2022.

As of Friday, the company’s shares outstanding were 21 billion, with a price of N274.5 and a trading volume of 21.34 million.

MTN’s profit after tax fell to N128.69 billion in H1 2023, down from N181.63 billion in H1 2022.

The telco’s cash and cash equivalents climbed from N166.8 billion in 2022 to N499.38 billion in the first half of 2023.

8. BUA Foods

In the first half of 2023, the consumer products company earned N5.29 per share, up from N2.18 in the same time in 2022.

As of Friday, the company’s shares outstanding were 18 billion, with a price of N165 and a trading volume of 275,400.

It made N95.2 billion in net profit after tax in the first half of 2023, up from N39.31 billion in the same period in 2022.

In H1 2023, the company’s cash and cash equivalents was N65.85 billion, up from N23.28 billion in H1 2022.

 

9. FCMB

In H1 2023, the bank earned N3.58 per share, up from N1.38 in the same period in 2022.

As of Friday, the bank’s outstanding shares were 19.8 billion, with a price of N5.64 and a trading volume of 17.73 million.

Profit after tax increased to N35.41 billion in the first half of 2023 from N13.66 billion in the first half of 2022.

Its cash and cash equivalents increased from N257.77 billion to N384.01 billion.

 

10. Geregu Power

In the first half of 2023, the energy generating firm earned N3.22 per share, down from N3.65 in the first half of 2022.

As of Friday, it has 2.5 billion outstanding shares, a price of N339.5, and a traded volume of 4,679 shares.

The company’s earnings after tax decreased to N8.05 billion in the first half of 2023 from N9.1 billion in the first half of 2022.

In H1 2023, the power company’s cash and cash equivalents totaled N44.3 billion, up from 9.51 billion in H1 2022.

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