Stock GBK GULF BANK K.S.C.P.
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Financials Gulf Bank K.S.C.P.

Equities

GBK

KW0EQ0100028

Banks

End-of-day quote Kuwait S.E.
Other stock markets
 06:00:00 2024-05-29 pm EDT 		5-day change 1st Jan Change
0.254 KWD -.--% Intraday chart for Gulf Bank K.S.C.P. -1.93% -5.08%
Apr. 30 Gulf Bank K.S.C.P. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
Mar. 04 Gulf Bank K.S.C.P. Announces Executive Changes CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 878.1 652.3 840.1 1,005 1,018 965.8 - -
Enterprise Value (EV) 1 878.1 652.3 840.1 1,005 1,018 965.8 965.8 965.8
P/E ratio 13.8 x 21.9 x 19.9 x 16.5 x 13.4 x 13.7 x 11.8 x 12 x
Yield 3.63% 2.28% 2.51% - - 4.19% 4.32% 4.24%
Capitalization / Revenue 4.23 x 4.12 x 4.94 x 5.55 x 5.35 x 4.78 x 4.5 x 4.28 x
EV / Revenue 4.23 x 4.12 x 4.94 x 5.55 x 5.35 x 4.78 x 4.5 x 4.28 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.32 x 1.01 x 1.26 x 1.39 x 1.25 x 1.14 x 1.09 x 1.03 x
Nbr of stocks (in thousands) 3,354,952 3,448,268 3,485,757 3,528,589 3,802,502 3,802,502 - -
Reference price 2 0.2617 0.1892 0.2410 0.2848 0.2676 0.2540 0.2540 0.2540
Announcement Date 2/9/20 2/11/21 2/10/22 2/2/23 2/12/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 207.6 158.3 170.1 181.1 190.3 202 214.7 225.5
EBITDA - - - - - - - -
EBIT 1 129.6 94.34 91.88 94.85 103.4 115 123.3 133.5
Operating Margin 62.44% 59.61% 54.03% 52.39% 54.35% 56.93% 57.45% 59.2%
Earnings before Tax (EBT) 1 66.77 30.29 44.27 64.9 74.86 74 87.3 91.5
Net income 1 63.64 28.8 42.1 61.8 71.21 71 79.03 81.2
Net margin 30.65% 18.2% 24.76% 34.14% 37.43% 35.15% 36.82% 36.01%
EPS 2 0.0190 0.008640 0.0121 0.0172 0.0200 0.0186 0.0215 0.0212
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.009500 0.004320 0.006050 - - 0.0106 0.0110 0.0108
Announcement Date 2/9/20 2/11/21 2/10/22 2/2/23 2/12/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1
Net sales 1 - 44.53 41.52 43.81 46.98 48.75 46.38 45.88 47.87 50.14 48.26
EBITDA - - - - - - - - - - -
EBIT 1 - 25.43 21.73 22.35 25.35 25.42 24.98 24.34 25.93 28.17 26.6
Operating Margin - 57.1% 52.34% 51% 53.96% 52.16% 53.85% 53.05% 54.16% 56.19% 55.11%
Earnings before Tax (EBT) - - - - - - - - - - -
Net income 1 16.52 14.61 15.05 15.24 15.43 16.08 17.3 18.54 17.98 17.38 12.87
Net margin - 32.81% 36.24% 34.79% 32.85% 32.99% 37.31% 40.42% 37.57% 34.67% 26.67%
EPS - - - - - - - - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 7/28/21 2/10/22 4/26/22 7/28/22 10/19/22 2/2/23 4/26/23 7/27/23 10/19/23 2/12/24 4/30/24
1KWD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 9.84% 4.6% 6.5% 8.92% 9.27% 8.5% 9.23% 8.85%
ROA (Net income/ Total Assets) 1.04% 0.47% 0.66% 0.92% 1.02% 1% 1.01% 1%
Assets 1 6,131 6,127 6,334 6,704 7,013 7,100 7,851 8,120
Book Value Per Share 2 0.2000 0.1900 0.1900 0.2100 0.2100 0.2200 0.2300 0.2500
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/9/20 2/11/21 2/10/22 2/2/23 2/12/24 - - -
1KWD in Million2KWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Gulf Bank K.S.C.P.

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
0.254 KWD
Average target price
0.3354 KWD
Spread / Average Target
+32.06%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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Commercial Banks
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