Financials Bank Dhofar SAOG

Equities

BKDB

OM0000002549

Banks

End-of-day quote Muscat Exchange Other stock markets 06:00:00 2024-04-24 pm EDT			5-day change	1st Jan Change
0.158 ^OMR	0.00%		-1.25%	-1.25%

Apr. 15	Bank Dhofar SAOG Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Jan. 30	Bank Dhofar SAOG 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	368.6	290.6	374.5	524.4	479.4	473.4	-	-
Enterprise Value (EV) ¹	368.6	290.6	374.5	524.4	479.4	473.4	473.4	473.4
P/E ratio	-	-	-	21.9 x	17.8 x	11.3 x	15.8 x	7.9 x
Yield	5.69%	4.12%	1.6%	-	-	5.06%	5.7%	6.33%
Capitalization / Revenue	2.84 x	2.24 x	2.96 x	3.66 x	3.33 x	3.08 x	2.9 x	2.74 x
EV / Revenue	2.84 x	2.24 x	2.96 x	3.66 x	3.33 x	3.08 x	2.9 x	2.74 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.54 x	0.42 x	0.55 x	0.95 x	0.85 x	0.82 x	0.81 x	0.72 x
Nbr of stocks (in thousands)	2,996,351	2,996,351	2,996,351	2,996,351	2,996,351	2,996,351	-	-
Reference price ²	0.1230	0.0970	0.1250	0.1750	0.1600	0.1580	0.1580	0.1580
Announcement Date	1/16/20	1/30/21	1/13/22	1/15/23	1/30/24	-	-	-

¹OMR in Million²OMR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	130	130	126.4	143.2	144.1	153.5	163.5	173
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	58.49	64.91	54.11	73.47	75.44	83.4	89.5	97
Operating Margin	45%	49.94%	42.79%	51.32%	52.36%	54.33%	54.74%	56.07%
Earnings before Tax (EBT) ¹	-	-	-	40.2	43.78	48.6	60	69
Net income ¹	-	-	-	34.17	38.76	41.3	43	52
Net margin	-	-	-	23.87%	26.9%	26.91%	26.3%	30.06%
EPS ²	-	-	-	0.008000	0.009000	0.0140	0.0100	0.0200
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.007000	0.004000	0.002000	-	-	0.008000	0.009000	0.0100
Announcement Date	1/16/20	1/30/21	1/13/22	1/15/23	1/30/24	-	-	-

¹OMR in Million²OMR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	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	61.06	34.47	28.98	33.53	36.55	36.56	36.51	38	30.95	-	34.48	35.34	38.24
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	17.99	6.74	16.47	19.2	19.83	17.98	20.87	19.59	-	18.04	16.93	19.77
Operating Margin	-	52.2%	23.26%	49.11%	52.54%	54.22%	49.23%	54.92%	63.3%	-	52.32%	47.91%	51.69%
Earnings before Tax (EBT)	-	-	-	-	-	11.39	-	-	-	-	-	-	-
Net income ¹	-	-	-	-	-	9.651	8.075	10.02	8.411	18.43	12.59	7.736	10.8
Net margin	-	-	-	-	-	26.39%	22.12%	26.37%	27.18%	-	36.51%	21.89%	28.25%
EPS	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	7/15/20	10/15/21	1/13/22	4/27/22	7/27/22	10/27/22	1/15/23	4/12/23	7/26/23	7/26/23	10/30/23	1/30/24	4/15/24

¹OMR 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)	5.64%	4.43%	3.6%	4.83%	6.81%	7.01%	-	-
ROA (Net income/ Total Assets)	0.71%	0.71%	0.58%	0.78%	0.86%	0.7%	0.9%	1%
Assets ¹	-	-	-	4,378	4,502	5,900	4,778	5,200
Book Value Per Share ²	0.2300	0.2300	0.2300	0.1800	0.1900	0.1900	0.2000	0.2200
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	1/16/20	1/30/21	1/13/22	1/15/23	1/30/24	-	-	-

¹OMR in Million²OMR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Bank Dhofar SAOG

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

0.158 OMR

Average target price

0.1385 OMR

Spread / Average Target

-12.34%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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