Stock TIC AL-TAKAFUL PALESTINIAN INSURANCE COMPANY
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Financials Al-Takaful Palestinian Insurance Company

Equities

TIC

PS3008112065

Multiline Insurance & Brokers

End-of-day quote Palestine Exchange
Other stock markets
 07:00:00 2024-03-30 pm EDT 		5-day change 1st Jan Change
3.15 USD +5.00% Intraday chart for Al-Takaful Palestinian Insurance Company -.--% +5.35%
Mar. 17 Al-Takaful Palestinian Insurance Company Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 Al-Takaful Palestinian Insurance Company Reports Earnings Results for the Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 21.4 28.2 25.9 26 26.9 32.89
Enterprise Value (EV) 1 14.14 18.71 18.49 21.21 20.34 35.7
P/E ratio 7.71 x 13.4 x 11.7 x 12.8 x 12.8 x 16.2 x
Yield 4.67% - 5.79% 5.77% 5.58% 5.02%
Capitalization / Revenue 0.56 x 0.71 x 0.66 x 0.57 x 0.49 x 0.6 x
EV / Revenue 0.37 x 0.47 x 0.47 x 0.47 x 0.37 x 0.65 x
EV / EBITDA 4.06 x 4.07 x 12.6 x 9.83 x 2.73 x 7.41 x
EV / FCF 6.14 x 3.96 x -8.13 x -15.2 x 9.7 x 15.1 x
FCF Yield 16.3% 25.3% -12.3% -6.57% 10.3% 6.64%
Price to Book 1.22 x 1.54 x 1.24 x 1.16 x 1.12 x 1.38 x
Nbr of stocks (in thousands) 11,000 11,000 11,000 11,000 11,000 11,000
Reference price 2 1.945 2.564 2.355 2.364 2.445 2.990
Announcement Date 3/31/19 4/5/20 3/28/21 3/21/22 3/23/23 3/31/24
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 38.51 39.81 39.3 45.24 55.11 54.92
EBITDA 1 3.482 4.6 1.466 2.158 7.446 4.816
EBIT 1 2.998 4.13 0.824 1.542 6.806 4.208
Operating Margin 7.78% 10.37% 2.1% 3.41% 12.35% 7.66%
Earnings before Tax (EBT) 1 4.215 3.124 3.054 2.773 3.089 3.159
Net income 1 2.774 2.102 2.219 2.027 2.099 2.031
Net margin 7.2% 5.28% 5.65% 4.48% 3.81% 3.7%
EPS 2 0.2522 0.1911 0.2017 0.1843 0.1908 0.1847
Free Cash Flow 1 2.303 4.73 -2.274 -1.394 2.097 2.372
FCF margin 5.98% 11.88% -5.79% -3.08% 3.8% 4.32%
FCF Conversion (EBITDA) 66.12% 102.84% - - 28.16% 49.25%
FCF Conversion (Net income) 83% 225.08% - - 99.91% 116.75%
Dividend per Share 2 0.0909 - 0.1364 0.1364 0.1364 0.1500
Announcement Date 3/31/19 4/5/20 3/28/21 3/21/22 3/23/23 3/31/24
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - 2.81
Net Cash position 1 7.26 9.49 7.41 4.79 6.56 -
Leverage (Debt/EBITDA) - - - - - 0.5841 x
Free Cash Flow 1 2.3 4.73 -2.27 -1.39 2.1 2.37
ROE (net income / shareholders' equity) 16.1% 12.1% 11.3% 9.36% 9.05% 8.53%
ROA (Net income/ Total Assets) 3.18% 3.93% 0.68% 1.13% 4.65% 3.8%
Assets 1 87.13 53.45 326.5 178.9 45.12 53.52
Book Value Per Share 2 1.600 1.670 1.900 2.040 2.180 2.170
Cash Flow per Share 2 1.000 1.100 0.9700 0.8400 0.8400 0.0500
Capex 1 1.01 0.61 0.46 0.39 0.3 0.34
Capex / Sales 2.62% 1.53% 1.17% 0.86% 0.54% 0.61%
Announcement Date 3/31/19 4/5/20 3/28/21 3/21/22 3/23/23 3/31/24
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Islamic Insurance

1st Jan change Capi.
AL-TAKAFUL PALESTINIAN INSURANCE COMPANY Stock Al-Takaful Palestinian Insurance Company
+5.35% 34.65M
QATAR ISLAMIC INSURANCE GROUP Q.P.S.C. Stock Qatar Islamic Insurance Group Q.P.S.C.
-6.39% 342M
ALJAZIRA TAKAFUL TAAWUNI COMPANY Stock Aljazira Takaful Taawuni Company
+4.47% 315M
AL-ETIHAD COOPERATIVE INSURANCE COMPANY Stock Al-Etihad Cooperative Insurance Company
+11.09% 246M
DAMAAN ISLAMIC INSURANCE COMPANY "BEEMA" (Q.P.S.C.) Stock Damaan Islamic Insurance Company "Beema" (Q.P.S.C.)
-6.97% 208M
ABU DHABI NATIONAL TAKAFUL COMPANY Stock Abu Dhabi National Takaful Company
-21.67% 134M
ISLAMIC ARAB INSURANCE CO. (SALAMA) Stock Islamic Arab Insurance Co. (Salama)
-27.64% 99.98M
FIRST TAKAFUL INSURANCE COMPANY - KPSC Stock First Takaful Insurance Company - KPSC
+186.21% 58.64M
Islamic Insurance
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