Company Overview
PZ Cussons Nigeria Plc is one of Nigeria’s oldest and largest Fast-Moving Consumer Goods (FMCG) companies. Established in 1948 and listed on the Nigerian Exchange (NGX), the company manufactures and distributes personal care, home care, beauty, electrical appliances, and nutrition products.
Current price: N90
Rating: Buy
Price projection: N139.34 (54.82%) and N173.85 (93.17%)
Technical Analysis
In this report, we shall use the following tools and analysis methods:
Elliott’s wave theory to understand the overall market sentiment
Fibonacci tools to determine support and resistance levels
The Relative Strength Index and volume to evaluate the market’s strength
The Money Flow Index to determine the market liquidity
Moving average and MACD to understand the nature of the trend
Top-down analysis to know the best investment position
Elliott wave analysis
Weekly chart: Market overview
On the weekly chart, PZ is the fourth wave of Wave III of the grand cycle. This means the index has potential for another strong bullish rally to complete the grand cycle. This corrective phase is an opportunity for investors to buy into value
Daily chart: Investment opportunity
On the daily chart, PZ will soon complete wave c of its fourth wave. After this final correction, the index should commence a strong bullish trend. In line with this sentiment, investment opportunities lie between N80 and N90, with a price projection of N139.34 (54.82%) and N173.85 (93.17%)
Indicator analysis
Weekly chart: Market overview
Although the market is bearish on the weekly chart, PZ’s liquidity and momentum remain solid. Given the price projection, investing in this corrective phase is favourable.
Daily chart: Investment opportunity
The market volume, momentum, and liquidity are moderate. Also, MACD’s bearish momentum remains weak as PZ prepares for a bullish trend. These sentiments offer retail investors the opportunity to buy at a pullback.
Fundamental Analysis
Full-year financial report for 2026
Key insight: The financial rating for PZ Cussins is 83%, making it suitable for long-term trading and medium-term investment
Key Highlights
Revenue increased by ₦47.82 billion, representing a 22.49% year-on-year growth.
Profit After Tax (PAT) surged by 387.74%, rising from ₦10.07 billion to ₦49.10 billion, reflecting a substantial improvement in profitability.
Total Assets declined slightly by 4.60%, indicating a modest reduction in the company’s asset base.
Total Liabilities fell sharply by 51.38%, a strong positive sign of balance sheet deleveraging and improved financial position.
Net Cash Generated from Operating Activities decreased by 35.92%, suggesting weaker operating cash generation despite the significant increase in reported earnings.
SWOT
