Owo runs Dividend Discount Model valuations on every NGX-listed stock using Nigeria-specific
inputs — CBN bond yield, frontier market ERP, naira-denominated outputs.
Calculating fair values for all
NGX stocks...
ALL NGX LISTINGS — STOCK SCREENER
TICKER
COMPANY
SECTOR
PRICE (₦)
FAIR VALUE (₦)
UPSIDE %
SIGNAL
g₂
Ke
Nigeria-adjusted defaults pre-loaded. Risk-free rate uses CBN 10-year FGN bond yield
(14.85%). Select any stock above or enter a ticker manually.
WHY NGX STOCKS LOOK EXPENSIVE ON FAIR VALUE
Nigeria's risk-free rate (FGN bond yield) is 14.85% — one of the highest
in the world. This pushes the cost of equity (Ke) to ~22%, which compresses fair values. A stock
isn't automatically overvalued just because fair value says so in a high-rate environment.
Compare the fair value to the T-bill rate (22.52%) before deciding.
Company & Market Data
Dividend & Earnings
Last paid dividend per share
Growth Assumptions
Near-term dividend growth
Long-run sustainable rate (below Ke)
Auto-calculated from CAPM below
Nigeria CAPM Inputs
CBN 10-yr bond yield, Apr 2026
Nigeria MRP: ~9% (frontier market)
Capital Structure (for WACC)
Nigeria CIT = 30%
NIGERIA MARKET CONTEXT
FGN 10-yr Bond
14.85%
CBN T-bill (364-day)
22.52%
Nigeria ERP
~9.0%
NGX ASI YTD
+0.42%
USD/NGN
₦1,614
CIT Rate
30%
INTERPRETING THIS RESULT IN A HIGH-RATE ENVIRONMENT
Nigeria's 14.85% risk-free rate is extraordinary by global standards. This mechanically compresses fair
values for all NGX stocks. A SELL signal doesn't necessarily mean avoid — it means the stock must
grow dividends faster than assumed to justify its price.
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NGX MARKET PRICE
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RECOMMENDATION
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avg implied upside vs NGX market price
SIMPLE VALUATION
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ADVANCED VALUATION
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WACC Breakdown
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Two-Stage Dividend Schedule
Year
Stage
Growth
Dividend (₦)
Discount Factor
PV (₦)
Sensitivity — Two-Stage Price vs Growth
Rows = g₁
· Columns = g₂ · Outlined = your inputs
Key Risks — NGX Context
Owo is an educational tool for NGX investors. Nothing here constitutes investment
advice.
Always consult a SEC-registered investment adviser. Financial inputs must be sourced from company filings on
NGX or SEC Nigeria.