SAUDI INDUSTRIAL INVESTMENT GROUP |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 22.04 SAR | +0.92% |
|
-2.65% | -0.72% |
| Mar. 21 | Saudi Industrial Investor Alujain Swings to Loss in FY23; Revenue Drops | MT |
| Mar. 20 | Saudi Industrial Investment Group Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 10,800 | 12,330 | 14,018 | 16,591 | 16,757 | 17,240 | - | - |
| Enterprise Value (EV) 1 | 12,034 | 12,552 | 11,708 | 15,145 | 15,930 | 16,569 | 16,465 | 16,312 |
| P/E ratio | 17.8 x | 137 x | 12.3 x | 53.6 x | 148 x | 27.3 x | 14.7 x | 13.7 x |
| Yield | 6.25% | 3.65% | 4.01% | 6.82% | 4.5% | 4.82% | 6.26% | 6.61% |
| Capitalization / Revenue | 1,452,647 x | 2,017,090 x | - | - | - | - | - | - |
| EV / Revenue | 1,618,677 x | 2,053,337 x | - | - | - | - | - | - |
| EV / EBITDA | 10.8 x | 9.7 x | 6.37 x | 35.8 x | 127 x | 26.6 x | 13.9 x | 12.8 x |
| EV / FCF | 5.36 x | - | 54 x | 32 x | 372 x | 22.3 x | 12.3 x | 12.3 x |
| FCF Yield | 18.6% | - | 1.85% | 3.12% | 0.27% | 4.48% | 8.16% | 8.12% |
| Price to Book | 1.59 x | 1.92 x | 1.91 x | 1.55 x | 1.67 x | 1.67 x | 1.65 x | 1.62 x |
| Nbr of stocks (in thousands) | 450,000 | 450,000 | 450,000 | 754,800 | 754,800 | 754,800 | - | - |
| Reference price 2 | 24.00 | 27.40 | 31.15 | 21.98 | 22.20 | 22.04 | 22.04 | 22.04 |
| Announcement Date | 1/29/20 | 2/1/21 | 1/27/22 | 3/13/23 | 2/1/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales | 7,435 | 6,113 | - | - | - | - | - | - |
| EBITDA 1 | 1,114 | 1,294 | 1,838 | 422.9 | 125.8 | 623.9 | 1,183 | 1,273 |
| EBIT 1 | 247.8 | 417.1 | 1,837 | 422.1 | 125 | 584.5 | 1,144 | 1,279 |
| Operating Margin | 3.33% | 6.82% | - | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | - | - | 1,847 | 467.5 | 180.8 | 775 | 1,312 | 1,391 |
| Net income 1 | 605.3 | 91.64 | 1,136 | 277.4 | 112 | 689.5 | 1,194 | 1,266 |
| Net margin | 8.14% | 1.5% | - | - | - | - | - | - |
| EPS 2 | 1.350 | 0.2000 | 2.530 | 0.4100 | 0.1500 | 0.8070 | 1.497 | 1.612 |
| Free Cash Flow 1 | 2,244 | - | 216.6 | 472.6 | 42.88 | 742 | 1,343 | 1,324 |
| FCF margin | 30.18% | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | 201.38% | - | 11.79% | 111.73% | 34.09% | 118.94% | 113.54% | 104.02% |
| FCF Conversion (Net income) | 370.7% | - | 19.06% | 170.33% | 38.28% | 107.61% | 112.43% | 104.58% |
| Dividend per Share 2 | 1.500 | 1.000 | 1.250 | 1.500 | 1.000 | 1.062 | 1.380 | 1.458 |
| Announcement Date | 1/29/20 | 2/1/21 | 1/27/22 | 3/13/23 | 2/1/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | - | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 272.3 | 372.3 | 299.5 | 57.93 | -307.7 | -237.5 | 219.3 | 24 | 24.4 |
| Operating Margin | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - |
| Net income | 203.9 | 121.6 | 234.9 | 284.2 | 54.8 | -296.4 | -241.5 | 222.4 | 11 | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| EPS | 0.4500 | 0.2700 | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/28/21 | 1/27/22 | 5/10/22 | 8/4/22 | 11/3/22 | 3/13/23 | 5/10/23 | 11/5/23 | 2/1/24 | - |
1SAR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,234 | 222 | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 2,310 | 1,445 | 827 | 670 | 775 | 927 |
| Leverage (Debt/EBITDA) | 1.108 x | 0.1712 x | - | - | - | - | - | - |
| Free Cash Flow 1 | 2,244 | - | 217 | 473 | 42.9 | 742 | 1,343 | 1,325 |
| ROE (net income / shareholders' equity) | 8.84% | 1.39% | 16.5% | 3.08% | 1.92% | 6.02% | 11.2% | 11.9% |
| ROA (Net income/ Total Assets) | - | - | 9.68% | 2.37% | 1.03% | 6.4% | 11% | 11.5% |
| Assets 1 | - | - | 11,738 | 11,683 | 10,894 | 10,773 | 10,859 | 11,061 |
| Book Value Per Share 2 | 15.10 | 14.20 | 16.30 | 14.20 | 13.30 | 13.20 | 13.40 | 13.60 |
| Cash Flow per Share 2 | 5.060 | 3.990 | 0.4800 | 0.7000 | 0.0600 | 1.130 | 1.340 | 1.330 |
| Capex 1 | 32.6 | 25.5 | 0.89 | 0.9 | 0.74 | 0.87 | 0.87 | 0.87 |
| Capex / Sales | 0.44% | 0.42% | - | - | - | - | - | - |
| Announcement Date | 1/29/20 | 2/1/21 | 1/27/22 | 3/13/23 | 2/1/24 | - | - | - |
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
Sell
Buy
Mean consensus
HOLD
Number of Analysts
5
Last Close Price
22.04
SAR
Average target price
22.96
SAR
Spread / Average Target
+4.17%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -0.72% | 4.44B | |
| +5.27% | 103B | |
| -1.80% | 65.6B | |
| +39.52% | 39.06B | |
| +12.91% | 37.58B | |
| +7.53% | 33.26B | |
| +7.34% | 19.22B | |
| +12.86% | 16.83B | |
| +7.73% | 15.03B | |
| +16.93% | 14.96B |
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