AL RAJHI BANKING AND INVESTMENT CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 77.5 SAR | -1.40% |
|
-3.85% | -10.40% |
| Apr. 17 | Saudi’s Neom Eyes Debut Sukuk Sale to Raise Funds for $1.5 Trillion Project | MT |
| Apr. 16 | Most Gulf markets in red on US rate cut concerns, geopolitical tensions | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 163,500 | 184,000 | 354,500 | 300,800 | 346,000 | 310,000 | - | - |
| Enterprise Value (EV) 1 | 163,500 | 184,000 | 354,500 | 300,800 | 346,000 | 310,000 | 310,000 | 310,000 |
| P/E ratio | 16.1 x | 17.4 x | 24 x | 17.7 x | 21.9 x | 17.3 x | 15.2 x | 13.3 x |
| Yield | 4.59% | 1.36% | 0.71% | 1.66% | 1.33% | 3.32% | 3.9% | 4.49% |
| Capitalization / Revenue | 8.39 x | 8.88 x | 13.8 x | 10.5 x | 12.6 x | 10.2 x | 9.14 x | 8.3 x |
| EV / Revenue | 8.39 x | 8.88 x | 13.8 x | 10.5 x | 12.6 x | 10.2 x | 9.14 x | 8.3 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 3.19 x | 3.17 x | 5.27 x | 3 x | 3.24 x | 3.08 x | 2.84 x | 2.6 x |
| Nbr of stocks (in thousands) | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | - | - |
| Reference price 2 | 40.87 | 46.00 | 88.62 | 75.20 | 86.50 | 77.50 | 77.50 | 77.50 |
| Announcement Date | 2/19/20 | 2/3/21 | 2/13/22 | 1/30/23 | 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 1 | 19,484 | 20,721 | 25,716 | 28,575 | 27,531 | 30,319 | 33,913 | 37,356 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 13,099 | 13,979 | 18,790 | 21,124 | 20,033 | 22,432 | 25,162 | 30,107 |
| Operating Margin | 67.23% | 67.46% | 73.07% | 73.92% | 72.77% | 73.99% | 74.2% | 80.59% |
| Earnings before Tax (EBT) 1 | 11,326 | 11,814 | 16,445 | 19,123 | 18,529 | 20,662 | 22,756 | 26,060 |
| Net income 1 | 10,159 | 10,596 | 14,746 | 17,151 | 16,621 | 18,254 | 20,561 | 23,839 |
| Net margin | 52.14% | 51.14% | 57.34% | 60.02% | 60.37% | 60.2% | 60.63% | 63.82% |
| EPS 2 | 2.538 | 2.650 | 3.688 | 4.240 | 3.950 | 4.484 | 5.115 | 5.842 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 1.875 | 0.6250 | 0.6250 | 1.250 | 1.150 | 2.571 | 3.022 | 3.477 |
| Announcement Date | 2/19/20 | 2/3/21 | 2/13/22 | 1/30/23 | 2/1/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 6,578 | 6,855 | 6,957 | 7,148 | 7,206 | 7,264 | 6,781 | 6,827 | 6,873 | 7,051 | 6,974 | 7,326 | 7,533 | 7,887 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 4,824 | 5,064 | 5,188 | 5,328 | 5,345 | 5,263 | 4,980 | 4,988 | 5,012 | 5,053 | 5,309 | - | - | - |
| Operating Margin | - | 73.33% | 73.87% | 74.57% | 74.53% | 74.18% | 72.46% | 73.44% | 73.05% | 72.92% | 71.66% | 76.13% | - | - | - |
| Earnings before Tax (EBT) 1 | - | 4,230 | 4,474 | - | 4,747 | 4,855 | 4,911 | 4,622 | 4,627 | 4,633 | - | 4,771 | - | - | - |
| Net income 1 | 6,940 | 3,794 | 4,012 | 4,134 | 4,258 | 4,355 | 4,405 | 4,145 | 4,150 | 4,155 | 4,171 | 4,356 | - | - | - |
| Net margin | - | 57.68% | 58.53% | 59.42% | 59.57% | 60.43% | 60.63% | 61.13% | 60.78% | 60.45% | 59.15% | 62.46% | - | - | - |
| EPS 2 | - | 0.9500 | 1.006 | - | 1.050 | - | 1.080 | 0.9900 | 0.9800 | 0.9900 | 0.9900 | 1.080 | 1.077 | 1.105 | 1.163 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | 1.175 | - | 1.247 |
| Announcement Date | 8/1/21 | 10/28/21 | 2/13/22 | 5/10/22 | 8/4/22 | 10/27/22 | 1/30/23 | 4/28/23 | 7/24/23 | 10/26/23 | 2/1/24 | - | - | - | - |
1SAR in Million2SAR
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) | 20.4% | 19.4% | 23.5% | 22.7% | 19.4% | 18.8% | 19.5% | 20.4% |
| ROA (Net income/ Total Assets) | 2.72% | 2.48% | 2.7% | 2.46% | 2.12% | 2.2% | 2.25% | 2.45% |
| Assets 1 | 374,058 | 426,467 | 546,257 | 697,195 | 784,009 | 828,020 | 911,848 | 971,115 |
| Book Value Per Share 2 | 12.80 | 14.50 | 16.80 | 25.10 | 26.70 | 25.10 | 27.30 | 29.80 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 2/19/20 | 2/3/21 | 2/13/22 | 1/30/23 | 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
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
17
Last Close Price
77.5
SAR
Average target price
87.75
SAR
Spread / Average Target
+13.23%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -10.40% | 82.67B | |
| -13.56% | 18.91B | |
| +10.53% | 13.78B | |
| +36.45% | 8.38B | |
| -13.66% | 6.22B | |
| -1.55% | 4.43B | |
| +23.36% | 4.36B | |
| -16.03% | 3.13B | |
| -6.71% | 2.57B | |
| -21.38% | 2.55B |
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- Financials Al Rajhi Banking and Investment Corporation
