If you want to buy a stock but you must first do fundamental analysis, how do you get the financial statements of that particular company.
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If you want to buy a stock but you must first do fundamental analysis, how do you get the financial statements of that particular company.
If you want to do fundamental analysis on a Nigerian company, the first step is to get its financial statements—income statement, balance sheet, and cash flow statement. Here’s the step-by-step approach for companies listed in Nigeria: 1. Check the Nigerian Exchange (NGX) Website Go to the NigerianRead more
If you want to do fundamental analysis on a Nigerian company, the first step is to get its financial statements—income statement, balance sheet, and cash flow statement. Here’s the step-by-step approach for companies listed in Nigeria:
1. Check the Nigerian Exchange (NGX) Website
Go to the Nigerian Exchange (NGX)
Use the Company Listed Securities section to find the company you’re interested in.
Most listed companies publish their annual reports and financial statements (usually PDF) under Investor Relations or Financials.
2. Visit the Company’s Investor Relations Page
Most public companies maintain a website section called “Investor Relations” or “Investors”.
There, you can usually download:
Annual Reports (Audited Financial Statements)
Interim/Quarterly Reports
Corporate Governance Reports
Tip: Look specifically for the latest audited financial statements, as they provide the most reliable information for fundamental analysis.
3. Check the Securities and Exchange Commission (SEC) Nigeria
Securities and Exchange Commission Nigeria regulates public companies.
SEC maintains filings of listed companies, including annual returns and financial statements.
4. Use Stockbrokers or Registrars
Platforms like InvestNaija, Meristem, or Coronation Registrars sometimes provide financial statements or summaries for research purposes.
You can request e-copies of reports if not readily available online.
5. Check Financial News and Data Providers
Services like Proshare, Nairametrics, BusinessDay, or Bloomberg Africa sometimes post summaries of company financials, ratios, and reports.
Useful for a quick snapshot, but always cross-check with the official statements.
6. What to Look For Once You Get the Financial Statements
Income Statement: Revenue growth, net profit, profit margins.
Balance Sheet: Assets, liabilities, equity, debt levels.
Cash Flow Statement: Cash from operations, investing, and financing.
Ratios for Analysis: P/E, ROE, ROA, current ratio, debt-to-equity.
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