Financials Gulf Insurance Group

Equities

8250

SA12A0540T12

Multiline Insurance & Brokers

Market Closed - Saudi Arabian S.E. Other stock markets 08:20:06 2024-06-04 am EDT			5-day change	1st Jan Change
27.65 ^SAR	-3.32%		-5.31%	+5.13%

May. 30	Gulf Insurance Group Approves Dividend for the Financial Year Ending on December 31, 2023	CI
May. 13	Gulf Insurance Group Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	1,034	1,330	1,785	1,650	1,230	1,452	1,452	-
Enterprise Value (EV) ¹	1,034	1,330	1,785	1,650	1,230	1,381	1,452	1,452
P/E ratio	13.5 x	15.4 x	12.9 x	11.9 x	16.2 x	10.7 x	14.6 x	13.2 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	0.72 x	0.94 x	1.26 x	-	0.78 x	0.88 x	0.91 x	0.84 x
EV / Revenue	0.72 x	0.94 x	1.26 x	-	0.78 x	0.88 x	0.91 x	0.84 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.75 x	1.87 x	2.05 x	-	1.32 x	1.37 x	-	-
Nbr of stocks (in thousands)	52,500	52,500	52,500	52,500	52,500	52,500	52,500	-
Reference price ²	19.70	25.33	34.00	31.43	23.43	27.65	27.65	27.65
Announcement Date	3/31/19	3/17/20	3/23/21	2/20/22	3/30/23	2/18/24	-	-

¹SAR in Million²SAR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	1,446	1,410	1,418	-	1,567	1,565	1,598	1,725
EBITDA	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	108.5	166.8	-	93.31	155.4	126	143
Net income ¹	76.43	108.5	138.5	138.5	75.8	128.5	99	112
Net margin	5.29%	7.69%	9.77%	-	4.84%	8.21%	6.2%	6.49%
EPS ²	1.457	1.648	2.638	2.638	1.448	2.450	1.900	2.100
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	3/31/19	3/17/20	3/23/21	2/20/22	3/30/23	2/18/24	-	-

¹SAR in Million²SAR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S1	2023 Q2	2023 Q3	2023 Q4	2024 Q1
Net sales ¹	794.9	-	-	395.9	362.4
EBITDA	-	-	-	-	-
EBIT	-	-	-	-	-
Operating Margin	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-
Net income ¹	46.51	96.38	10.2	21.95	-20.22
Net margin	5.85%	-	-	5.54%	-5.58%
EPS	-	-	-	-	-
Dividend per Share	-	-	-	-	-
Announcement Date	8/4/19	8/15/23	11/13/23	2/18/24	5/5/24

¹SAR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	13.5%	16.9%	17.5%	-	7.87%	11.4%	9.8%	10%
ROA (Net income/ Total Assets)	3.63%	4.59%	5.12%	-	2.57%	4.63%	-	-
Assets ¹	2,107	2,362	2,705	-	2,951	2,774	-	-
Book Value Per Share ²	11.20	13.50	16.60	-	17.70	20.10	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	3/31/19	3/17/20	3/23/21	2/20/22	3/30/23	2/18/24	-	-

¹SAR in Million²SAR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Gulf Insurance Group

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

27.65 SAR

Average target price

31 SAR

Spread / Average Target

+12.12%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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