Shares of BUA Cement Plc have continued their rally into 2026, pushing the company’s valuation higher and signalling stronger investor confidence.
The stock closed 2025 at ₦178.50; however, it has since climbed to ₦270, representing a 51.3% gain this year.
Earlier, the stock rallied 92% in 2025, reversing the 4.25% decline recorded in 2024.
As the share price rose, the market also expanded the company’s valuation.
Based on trailing earnings per share of ₦10.51, investors now pay about 25.7 times earnings, compared with 19.17 times earnings at the end of 2025.
In simple terms, the market now pays roughly ₦26 for every ₦1 of BUA Cement’s earnings, up from ₦19 previously.
BUA Cement Strong Revenue Growth
BUA Cement’s financial performance also explains the growing investor interest.
Revenue increased from ₦257 billion in 2021 to ₦1.18 trillion in 2025, reflecting a compound annual growth rate of about 46%.
At the same time, profitability improved sharply.
The company reported profit after tax of about ₦356 billion, while earnings per share reached ₦10.51.
Margins also strengthened during the year.
Gross margin rose to 51.2%, while EBITDA margin increased to 46.6%.
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Rising Dividend Payouts
Meanwhile, the company rewarded shareholders with higher dividends.
For the 2025 financial year, BUA Cement raised its dividend per share to ₦10, compared with ₦2.05 in 2024.
The stronger payout has also increased the stock’s appeal to income-focused investors.
Expansion Drives Outlook
BUA Cement’s ownership structure also influences how the stock trades.
Major shareholders hold over 95% of shares, leaving a free float of about 2.32%.
As a result, even moderate buying pressure can push the share price higher.
At the same time, expansion plans continue to support the company’s outlook.
In 2025, BUA Cement added 500 bulk cement tankers and resumed exports to Niger and Burkina Faso.
In addition, projects such as Ososo Line-1 and the Sokoto regasification plant continue to progress.
Once completed, these projects could increase installed capacity from 17 million tonnes to about 20 million tonnes per year, supporting future revenue growth.
