NATIONAL INDUSTRIALIZATION COMPANY |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 11.5 SAR | -2.21% |
|
-3.70% | -7.43% |
| May. 13 | National Industrialization Company Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| May. 05 | Tasnee Swings to Loss in Q1; Revenue Down | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 9,151 | 9,151 | 13,352 | 8,268 | 8,281 | 7,866 | - | - |
| Enterprise Value (EV) 1 | 14,171 | 13,828 | 16,763 | 10,513 | 10,233 | 9,729 | 9,493 | 9,210 |
| P/E ratio | -5.8 x | -20.4 x | 9.83 x | 12.4 x | 47.6 x | 34.6 x | 11.4 x | 10.3 x |
| Yield | - | - | - | - | - | 3.66% | 5.78% | 7.06% |
| Capitalization / Revenue | 3.03 x | 4.03 x | 3.63 x | 2.13 x | 2.32 x | 2.18 x | 2.1 x | 2.07 x |
| EV / Revenue | 4.69 x | 6.09 x | 4.56 x | 2.71 x | 2.87 x | 2.69 x | 2.53 x | 2.42 x |
| EV / EBITDA | 12.2 x | 62.2 x | 6.06 x | 6.86 x | 16 x | 9.01 x | 5.78 x | 5.34 x |
| EV / FCF | - | - | 20.6 x | 15.9 x | 114 x | 9.8 x | 7.44 x | 8.94 x |
| FCF Yield | - | - | 4.85% | 6.28% | 0.87% | 10.2% | 13.4% | 11.2% |
| Price to Book | 1.16 x | 1.26 x | 1.53 x | 0.86 x | 0.86 x | 0.78 x | 0.73 x | 0.69 x |
| Nbr of stocks (in thousands) | 668,914 | 668,914 | 668,914 | 668,914 | 668,914 | 668,914 | - | - |
| Reference price 2 | 13.68 | 13.68 | 19.96 | 12.36 | 12.38 | 11.76 | 11.76 | 11.76 |
| Announcement Date | 3/31/20 | 3/31/21 | 3/14/22 | 3/6/23 | 3/4/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,019 | 2,272 | 3,673 | 3,883 | 3,567 | 3,610 | 3,753 | 3,800 |
| EBITDA 1 | 1,162 | 222.2 | 2,766 | 1,533 | 639.6 | 1,080 | 1,642 | 1,723 |
| EBIT 1 | 769.9 | -9.755 | 2,515 | 1,321 | 413.9 | 768.3 | 1,372 | 1,450 |
| Operating Margin | 25.5% | -0.43% | 68.47% | 34.02% | 11.6% | 21.28% | 36.56% | 38.16% |
| Earnings before Tax (EBT) 1 | - | - | 2,383 | 1,373 | 475.9 | 1,167 | 1,529 | 1,603 |
| Net income 1 | -1,580 | -446.7 | 1,356 | 666.3 | 174.6 | 224.5 | 754 | 791 |
| Net margin | -52.32% | -19.66% | 36.93% | 17.16% | 4.89% | 6.22% | 20.09% | 20.82% |
| EPS 2 | -2.360 | -0.6700 | 2.030 | 1.000 | 0.2600 | 0.3400 | 1.034 | 1.140 |
| Free Cash Flow 1 | - | - | 813.4 | 659.8 | 89.52 | 993 | 1,276 | 1,030 |
| FCF margin | - | - | 22.14% | 16.99% | 2.51% | 27.51% | 34% | 27.11% |
| FCF Conversion (EBITDA) | - | - | 29.4% | 43.03% | 14% | 91.95% | 77.73% | 59.76% |
| FCF Conversion (Net income) | - | - | 59.97% | 99.02% | 51.27% | 442.32% | 169.23% | 130.21% |
| Dividend per Share 2 | - | - | - | - | - | 0.4300 | 0.6800 | 0.8300 |
| Announcement Date | 3/31/20 | 3/31/21 | 3/14/22 | 3/6/23 | 3/4/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,163 | 979.2 | 1,077 | 887.1 | 939.5 | 888.7 | 889.2 | 831.9 | 957.1 | 761.4 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 543.2 | 563.2 | 179 | 35.47 | 161.5 | 52.4 | 184.2 | - | -32.2 |
| Operating Margin | - | 55.47% | 52.28% | 20.18% | 3.78% | 18.17% | 5.89% | 22.14% | - | -4.23% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 338.7 | 309 | 297.1 | 17.13 | 43.14 | 82.09 | 31.4 | 78.21 | -17.1 | -72.1 |
| Net margin | 29.12% | 31.55% | 27.58% | 1.93% | 4.59% | 9.24% | 3.53% | 9.4% | -1.79% | -9.47% |
| EPS 2 | 0.5100 | 0.4600 | - | 0.0300 | 0.0700 | 0.1200 | 0.0500 | 0.1200 | -0.0300 | -0.1100 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/14/22 | 4/28/22 | 8/4/22 | 10/31/22 | 3/6/23 | 5/14/23 | 7/30/23 | 11/2/23 | 3/4/24 | 5/5/24 |
1SAR in Million2SAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,020 | 4,678 | 3,412 | 2,245 | 1,952 | 1,862 | 1,626 | 1,343 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.319 x | 21.05 x | 1.233 x | 1.464 x | 3.051 x | 1.724 x | 0.9906 x | 0.7793 x |
| Free Cash Flow 1 | - | - | 813 | 660 | 89.5 | 993 | 1,276 | 1,030 |
| ROE (net income / shareholders' equity) | -18.3% | -5.89% | 17% | 7.28% | 1.81% | 1.8% | 6.64% | 6.88% |
| ROA (Net income/ Total Assets) | - | - | 5.74% | 2.68% | 0.7% | 0.9% | 3% | 3.1% |
| Assets 1 | - | - | 23,630 | 24,819 | 25,025 | 24,944 | 25,133 | 25,516 |
| Book Value Per Share 2 | 11.80 | 10.90 | 13.00 | 14.40 | 14.40 | 15.00 | 16.20 | 17.00 |
| Cash Flow per Share 2 | 0.1700 | -0.1600 | 1.300 | 1.200 | 0.2200 | -0.2600 | -0.2500 | -0.2300 |
| Capex 1 | 256 | 105 | 54.2 | 144 | 60.1 | 60.9 | 40.8 | 189 |
| Capex / Sales | 8.49% | 4.63% | 1.47% | 3.71% | 1.68% | 1.69% | 1.09% | 4.98% |
| Announcement Date | 3/31/20 | 3/31/21 | 3/14/22 | 3/6/23 | 3/4/24 | - | - | - |
1SAR in Million2SAR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
7
Last Close Price
11.76
SAR
Average target price
14.04
SAR
Spread / Average Target
+19.41%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.43% | 2.1B | |
| +2.46% | 102B | |
| -9.58% | 60.79B | |
| +74.76% | 48.86B | |
| +13.97% | 37.96B | |
| +4.56% | 32.37B | |
| +14.72% | 20.64B | |
| +11.17% | 16.58B | |
| +8.81% | 13.93B | |
| -3.19% | 13.25B |
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- Financials National Industrialization Company
