SOUTHERN PROVINCE CEMENT COMPANY |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 39.3 SAR | -0.88% |
|
-3.68% | -7.64% |
| Mar. 24 | Southern Province Cement Company Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Mar. 17 | Southern Province Cement Logs Lower FY23 Profit, Revenue | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 9,016 | 11,802 | 9,814 | 7,140 | 5,957 | 5,502 | - | - |
| Enterprise Value (EV) 1 | 9,150 | 11,658 | 9,639 | 7,073 | 5,956 | 5,436 | 5,323 | 5,502 |
| P/E ratio | 19.7 x | 19.4 x | 21.8 x | 23.7 x | 30.4 x | 26.1 x | 24.9 x | 24 x |
| Yield | 5.43% | 5.63% | 3.57% | 2.45% | 2.35% | 1.97% | 2.19% | 2.88% |
| Capitalization / Revenue | 6.94 x | 7.14 x | 7.33 x | 5.84 x | 5.57 x | 5.33 x | 5.08 x | 4.77 x |
| EV / Revenue | 7.04 x | 7.05 x | 7.2 x | 5.79 x | 5.57 x | 5.27 x | 4.92 x | 4.77 x |
| EV / EBITDA | 13.5 x | 14 x | 14.4 x | 14 x | 15 x | 12.6 x | 11.9 x | 13.8 x |
| EV / FCF | 15.3 x | 12.9 x | 17.5 x | 41 x | 84.3 x | 26.5 x | 21 x | - |
| FCF Yield | 6.56% | 7.74% | 5.71% | 2.44% | 1.19% | 3.77% | 4.75% | - |
| Price to Book | 2.73 x | 3.6 x | 3.06 x | - | - | 1.65 x | 1.62 x | 1.58 x |
| Nbr of stocks (in thousands) | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | 140,000 | - | - |
| Reference price 2 | 64.40 | 84.30 | 70.10 | 51.00 | 42.55 | 39.30 | 39.30 | 39.30 |
| Announcement Date | 3/9/20 | 3/4/21 | 3/9/22 | 3/31/23 | 3/17/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,300 | 1,653 | 1,339 | 1,222 | 1,070 | 1,032 | 1,083 | 1,152 |
| EBITDA 1 | 679.3 | 830.2 | 669.5 | 506.9 | 396.4 | 433 | 447.5 | 399 |
| EBIT 1 | 483 | 628 | 464.2 | 294.3 | 203 | 204.3 | 219 | 193 |
| Operating Margin | 37.15% | 37.99% | 34.66% | 24.07% | 18.97% | 19.79% | 20.23% | 16.75% |
| Earnings before Tax (EBT) | 465.1 | 626.6 | 467.3 | - | - | - | - | - |
| Net income 1 | 457 | 603 | 450.2 | 300.7 | 195 | 174 | 186.5 | 230.5 |
| Net margin | 35.15% | 36.48% | 33.61% | 24.6% | 18.22% | 16.86% | 17.23% | 20% |
| EPS 2 | 3.270 | 4.350 | 3.220 | 2.150 | 1.400 | 1.505 | 1.580 | 1.635 |
| Free Cash Flow 1 | 599.8 | 902 | 549.9 | 172.4 | 70.64 | 205 | 253 | - |
| FCF margin | 46.14% | 54.57% | 41.06% | 14.1% | 6.6% | 19.86% | 23.37% | - |
| FCF Conversion (EBITDA) | 88.29% | 108.65% | 82.14% | 34% | 17.82% | 47.34% | 56.54% | - |
| FCF Conversion (Net income) | 131.24% | 149.58% | 122.16% | 57.32% | 36.23% | 117.82% | 135.66% | - |
| Dividend per Share 2 | 3.500 | 4.750 | 2.500 | 1.250 | 1.000 | 0.7750 | 0.8625 | 1.133 |
| Announcement Date | 3/9/20 | 3/4/21 | 3/9/22 | 3/31/23 | 3/17/24 | - | - | - |
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 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 284.2 | 328.5 | 330 | 233.9 | 323.3 | 335.2 | 299.8 | 226 | - | 286.5 | 257.7 | 239 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 85.93 | 103.6 | 90.67 | 42.86 | 89.85 | 67.72 | 53.45 | - | - | 58.46 | 67.78 | 37.3 |
| Operating Margin | 30.23% | 31.53% | 27.48% | 18.32% | 27.79% | 20.2% | 17.82% | - | - | 20.41% | 26.31% | 15.61% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | - | - | 87.04 | 60.52 | 88.62 | 62.3 | 48.89 | 19.04 | 67.92 | 53.26 | 73.81 | 69.2 |
| Net margin | - | - | 26.38% | 25.87% | 27.41% | 18.59% | 16.3% | 8.42% | - | 18.59% | 28.64% | 28.95% |
| EPS 2 | - | - | - | - | 0.6300 | 0.4500 | - | 0.1400 | - | 0.3800 | 0.5300 | 0.4900 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/4/21 | 3/9/22 | 5/17/22 | 8/10/22 | 11/3/22 | 3/31/23 | 5/22/23 | 8/16/23 | 8/16/23 | 11/12/23 | 3/17/24 | - |
1SAR in Million2SAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 134 | - | - | - | - | - | - | - |
| Net Cash position 1 | - | 144 | 175 | 66.8 | 0.72 | 65.8 | 179 | - |
| Leverage (Debt/EBITDA) | 0.1969 x | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 600 | 902 | 550 | 172 | 70.6 | 205 | 253 | - |
| ROE (net income / shareholders' equity) | 14.3% | 18.3% | 13.9% | 9.41% | 6.01% | 6.06% | 6.62% | 8.07% |
| ROA (Net income/ Total Assets) | - | - | - | - | 4.79% | 3.6% | 3.8% | 4.8% |
| Assets 1 | - | - | - | - | 4,075 | 4,833 | 4,908 | 4,802 |
| Book Value Per Share 2 | 23.60 | 23.40 | 22.90 | - | - | 23.80 | 24.30 | 24.80 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 47.2 | 55.6 | 61.2 | 148 | 266 | 363 | 308 | 60 |
| Capex / Sales | 3.63% | 3.36% | 4.57% | 12.11% | 24.89% | 35.11% | 28.45% | 5.21% |
| Announcement Date | 3/9/20 | 3/4/21 | 3/9/22 | 3/31/23 | 3/17/24 | - | - | - |
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
D-
Sell
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
6
Last Close Price
39.3
SAR
Average target price
39.18
SAR
Spread / Average Target
-0.30%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -7.64% | 1.47B | |
| +19.81% | 48.58B | |
| -2.89% | 15.52B | |
| -1.00% | 15.46B | |
| -15.75% | 10.44B | |
| +26.55% | 8.84B | |
| +105.28% | 8.27B | |
| -0.30% | 7.96B | |
| -8.75% | 7.34B | |
| +23.60% | 6.73B |
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- Financials Southern Province Cement Company
