Stock DRIVE EMIRATES DRIVING COMPANY
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Financials Emirates Driving Company

Equities

DRIVE

AEE000601014

Miscellaneous Educational Service Providers

Delayed Abu Dhabi Securities Exchange
Other stock markets
 06:42:49 2024-05-01 am EDT 		5-day change 1st Jan Change
2.94 AED -1.01% Intraday chart for Emirates Driving Company -2.65% -11.80%
Mar. 27 Emirates Driving Company P.J.S.C. Approves Cash Dividend for the Fiscal Year Ended December 31, 2023 CI
Mar. 04 Emirates Driving Company (Public Joint-Stock Company) Proposes Cash Dividend for the Fiscal Year Ended on December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 619.5 870.9 1,198 1,894 2,388 3,591
Enterprise Value (EV) 1 366 601.3 852.5 1,458 1,795 2,875
P/E ratio 6.56 x 7.7 x 9.45 x 11.3 x 9.42 x 13.4 x
Yield 10.9% 10.3% 7.49% 2.37% 5.45% -
Capitalization / Revenue 3.07 x 4.16 x 4.97 x 7.28 x 7.04 x 10.1 x
EV / Revenue 1.81 x 2.87 x 3.54 x 5.61 x 5.29 x 8.08 x
EV / EBITDA 3.41 x 4.91 x 5.81 x 9.39 x 8.22 x 13.3 x
EV / FCF 5.75 x 9.07 x 7.5 x 14.6 x 14.4 x 33 x
FCF Yield 17.4% 11% 13.3% 6.87% 6.95% 3.03%
Price to Book 0.95 x 1.27 x 1.65 x 2.35 x 2.46 x 3.12 x
Nbr of stocks (in thousands) 1,077,437 1,077,437 1,077,437 1,077,437 1,077,437 1,077,437
Reference price 2 0.5750 0.8083 1.112 1.758 2.217 3.333
Announcement Date 2/12/19 2/25/20 2/4/21 1/22/22 1/20/23 2/1/24
1AED in Million2AED
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 201.9 209.3 241 260.1 339.4 355.6
EBITDA 1 107.3 122.5 146.8 155.4 218.5 216.7
EBIT 1 90.57 107.4 131.2 141.2 203.9 199.9
Operating Margin 44.85% 51.3% 54.46% 54.28% 60.08% 56.2%
Earnings before Tax (EBT) 1 94.98 112.7 128.3 168 253.4 267.1
Net income 1 94.38 113.1 126.8 168 253.4 267.1
Net margin 46.74% 54.03% 52.6% 64.59% 74.66% 75.12%
EPS 2 0.0876 0.1050 0.1176 0.1559 0.2352 0.2479
Free Cash Flow 1 63.66 66.27 113.7 100.1 124.7 87.16
FCF margin 31.53% 31.66% 47.2% 38.49% 36.75% 24.51%
FCF Conversion (EBITDA) 59.36% 54.1% 77.48% 64.44% 57.07% 40.23%
FCF Conversion (Net income) 67.45% 58.6% 89.72% 59.59% 49.22% 32.63%
Dividend per Share 2 0.0625 0.0833 0.0833 0.0417 0.1208 -
Announcement Date 2/12/19 2/25/20 2/4/21 1/22/22 1/20/23 2/1/24
1AED in Million2AED
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 254 270 345 436 593 716
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 63.7 66.3 114 100 125 87.2
ROE (net income / shareholders' equity) 14.5% 16.4% 18% 22% 28.5% 25.2%
ROA (Net income/ Total Assets) 8.12% 8.92% 10.2% 10.2% 12.7% 10.6%
Assets 1 1,162 1,269 1,243 1,642 1,991 2,511
Book Value Per Share 2 0.6100 0.6400 0.6700 0.7500 0.9000 1.070
Cash Flow per Share 2 0.2400 0.2900 0.2600 0.2500 0.5300 0.6300
Capex 1 5.55 18.3 2.94 15.2 28.5 22
Capex / Sales 2.75% 8.75% 1.22% 5.83% 8.4% 6.19%
Announcement Date 2/12/19 2/25/20 2/4/21 1/22/22 1/20/23 2/1/24
1AED in Million2AED
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Miscellaneous Educational Service Providers

1st Jan change Capi.
EMIRATES DRIVING COMPANY Stock Emirates Driving Company
-11.80% 871M
NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC. Stock New Oriental Education & Technology Group Inc.
+6.99% 12.76B
TAL EDUCATION GROUP Stock TAL Education Group
-5.94% 7.69B
GRAND CANYON EDUCATION, INC. Stock Grand Canyon Education, Inc.
-0.82% 3.87B
STRIDE, INC. Stock Stride, Inc.
+11.76% 2.84B
STRATEGIC EDUCATION, INC. Stock Strategic Education, Inc.
+24.23% 2.8B
ADTALEM GLOBAL EDUCATION INC. Stock Adtalem Global Education Inc.
-14.30% 1.94B
GAOTU TECHEDU INC. Stock Gaotu Techedu Inc.
+79.28% 1.69B
BENESSE HOLDINGS, INC. Stock Benesse Holdings, Inc.
-0.71% 1.59B
TIANLI INTERNATIONAL HOLDINGS LIMITED Stock Tianli International Holdings Limited
+67.80% 1.52B
Miscellaneous Educational Service Providers
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