These 10 stocks are trading at a massive discount to their year highs

The NGX lost over N13 trillion in June, closing the month at about N147 trillion in market capitalisation.

The selloff pulled several stocks below their recent highs and created room for investors to reassess valuations heading into the second half of the year.

But a falling price is only the starting point.

For this screener, Nairametrics identified ten NGX-listed stocks that were trading at least 15% below their 52-week highs as of the close of trading in H1 2026.

The 52-week high was measured using the highest price recorded between July 1, 2025, and June 30, 2026, while the discount was calculated using each stock’s closing price as of June 30, 2026.

In our previous piece, we looked at the broad rules investors should consider when navigating the market after the June selloff.

The key point was simple: not every stock that falls is cheap. A falling share price may create opportunity, but it can also expose weak fundamentals, stretched valuations or a business the market is rightly avoiding.

This follow-up takes the analysis a step further.

Based on the screen, ten stocks stood out. Each was trading at least 15% below its 52-week high as of the close of H1 2026, while also showing support from one or more key metrics, including valuation, earnings growth, return on equity, return on assets, EV/EBITDA, dividend yield or total return.

The ten stocks are GTCO, Zenith Bank, Wema Bank, Aradel, MTNN, CWG, Okomu Oil, CAP Plc, Unilever Nigeria and Eterna.

The goal is not to say these stocks are automatic buys. Rather, they are the names that best fit the profile of discounted stocks with stronger underlying value heading into the second half of the year.

GTCO

GTCO made the list as one of the banking names. The stock closed H1 2026 at 125.00, compared with a 52-week high of 156.95, implying a discount of about 20.36% as of June 30.

GTCO’s value case is supported by a low P/E ratio of 4.76x, meaning investors are paying less than five times the bank’s earnings. It has grown its earnings at a compound annual growth rate of 42%, reflecting a price-earnings ratio of 0.12, indicating it is undervalued relative to earnings growth

The bank’s ROE of 28% and ROA of 4.8% show strong profitability and efficient use of assets. Its dividend yield of 10.55% gives investors income support.

This makes GTCO look more like a genuine value stock than a value trap.

Zenith Bank

Zenith Bank also met the screen, trading at 110.00 at the end of June, compared with a 52-week high of 136.90. That placed the stock about 19.65% below its 52-week high as of the close of H1 2026.

Its valuation metrics remain supportive, with a P/E ratio of 4.22x, PEG ratio of 0.12, and P/B ratio of 0.80x, meaning the stock was trading below book value. It also had a 2025 dividend yield of 9.37%, one of the strongest in the banking sector.

For investors looking for a banking stock with both value and income characteristics, it remains one of the strongest names.

Wema Bank

Wema Bank made the list because its price had fallen enough to create a possible entry point, but the numbers also suggest the bank is still growing strongly.

The stock closed H1 2026 at 26.00, compared with a 52-week high of 36.00, implying a 27.78% discount as of June 30.

Despite the price drop, its valuation indicates it remains strong. It has grown earnings over the past five years at a compounded growth rate of 79%, making the stock undervalued relative to its growth. Also, investors are just paying N4 for every N1 of its 12-month trailing earnings.

The bank also posted strong return metrics, with ROE of 44.4% and ROA of 5.5%, showing that it is using both shareholders’ funds and assets efficiently. Its dividend yield of 4.63% also gives investors some income support.

Aradel

Aradel made the list as the strongest oil and gas name. The stock closed H1 2026 at 1,417.50, compared with a 52-week high of 2,024.00, implying a discount of about 29.97% as of June 30.

The stock corrected sharply in June, but the fundamentals remained strong. Its EPS growth of 91.71% points to strong earnings momentum.

The company’s ROE of 56.6% and ROA of 15.5% show strong profitability, and its EV/EBITDA of 8.5x suggests the business is not overly stretched on operating valuation.

Eterna

Eterna made the list as one of the deeper oil and gas discounts. The stock closed H1 2026 at 27.75, compared with a 52-week high of 51.20, implying a discount of about 45.80% as of June 30.

Eterna is a higher-risk value pick, but not a pure value trap because the discount is backed by earnings growth, ROE and dividend support.

The PEG ratio of 0.25 shows that the valuation is backed by earnings growth of about 42.14%/year over the past five years. It has the second-highest sector return on equity of 49%, depicting strong profitability.

MTNN

MTNN made the list as a quality telecoms name that met the screen at the close of H1 2026. The stock closed June at 720.00, compared with a 52-week high of 915.00, implying a discount of about 21.31% as of June 30.

By July, it had moved to 820.00, reducing the discount and showing that investors were already reassessing the stock.

Its P/E of 12.26x, PEG of 0.39, and EPS growth of 31.42% show a reasonable valuation backed by growth. More importantly, its ROE of 295.3%, ROA of 25.9%, EV/EBITDA of 6.8x, and dividend yield of 2.56% make it fundamentally stronger than most discounted ICT names.

CWG

CWG is another ICT sector company that made the list. The stock closed H1 2026 at 20.00, compared with a 52-week high of 25.40, implying a discount of about 21.26% as of June 30. The stock remained below its 52-week high in July, with only slight movement.

Although investors are paying about 10 times its earnings, CWG’s strong 81.89% earnings growth suggests the valuation is still attractive. It also offers the second-highest return on equity in the ICT basket after MTN Nigeria, with ROE of 56%. Its dividend yield of 3.50% gives additional income support.

This makes CWG look like a genuine, discounted value stock in ICT, backed by growth, profitability, and dividend support.

Okomu Oil

Okomu Oil made the list as the strongest agriculture stock. The stock closed H1 2026 at 1,418.00, compared with a 52-week high of 1,765.00, implying a discount of about 19.66% as of June 30. The stock discount also remained intact in July.

Although investors are paying about 22.62 times its earnings, Okomu Oil’s strong 53.17% earnings growth suggests the valuation is supported by profit momentum. It also offers one of the strongest profitability profiles in the agriculture basket, with ROE of 80% and ROA of 34.9%. Its EV/EBITDA of 13x remains positive, while its dividend yield of 2.82% gives investors income support.

This makes Okomu Oil look like a quality agriculture stock trading at a meaningful discount, rather than a value trap.

CAP Plc

CAP Plc made the list as the industrial goods pick. The stock closed H1 2026 at 175.10, compared with a 52-week high of 233.70, implying a discount of about 25.07% as of June 30. In July, the stock fell further, widening the discount and making it even more attractive on the screen.

Although investors are paying about 23 times its earnings, CAP’s 49.27% earnings growth helps support the valuation. Its PEG ratio of 0.47 also shows that growth partly justifies the price investors are paying.

The company’s ROE of 44.7% and ROA of 25.8% point to strong profitability and efficient use of assets. Its dividend yield of about 2.28% also gives investors some income support.

This makes CAP look like a discounted industrial goods stock with strong return metrics and room for reassessment in H2 2026.

Unilever Nigeria

Unilever Nigeria made the list as one of the stronger consumer goods value names. The stock closed H1 2026 at 126.00, compared with a 52-week high of 172.00, implying a discount of about 26.74% as of June 30. The stock remained around that level in July, meaning the discount had not disappeared.

Although investors are paying about 23.55 times its earnings, Unilever’s strong 158.4% earnings growth suggests the valuation is supported by a recovery in profit. Its PEG ratio of 0.15 also shows that the price is attractive when compared with earnings growth. The stock’s total return of about 75.4% shows that investors have already been rewarded, even though it still trades below its 52-week high.

This makes Unilever look like a consumer goods stock where the discount is backed by earnings recovery, not just a falling share price.