Financials Commercial Real Estate Company K.P.S.C.

Equities

ALTIJARIA

KW0EQ0401632

Real Estate Development & Operations

End-of-day quote Kuwait S.E. 06:00:00 2024-04-24 pm EDT 5-day change 1st Jan Change
0.13 KWD -0.76% Intraday chart for Commercial Real Estate Company K.P.S.C. +2.36% +27.45%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 163 166.9 204.8 226.6 173.5 179.1
Enterprise Value (EV) 1 329.3 344.7 393.9 400.6 357.4 365.8
P/E ratio 11.1 x 11.4 x 205 x 17.7 x 13.9 x 12.6 x
Yield 5.41% 5.27% 2.65% 4.04% 3.02% 3.92%
Capitalization / Revenue 4.38 x 4.5 x 10.3 x 5.24 x 5.85 x 5.85 x
EV / Revenue 8.84 x 9.29 x 19.8 x 9.27 x 12.1 x 12 x
EV / EBITDA 13.4 x 13.7 x 35.6 x 12.6 x 17.4 x 18.3 x
EV / FCF 33.6 x 49.4 x -171 x 27 x 20.8 x -314 x
FCF Yield 2.98% 2.02% -0.59% 3.71% 4.8% -0.32%
Price to Book 0.55 x 0.56 x 0.72 x 0.78 x 0.6 x 0.61 x
Nbr of stocks (in thousands) 1,917,395 1,910,758 1,871,101 1,866,782 1,806,551 1,755,666
Reference price 2 0.0850 0.0873 0.1095 0.1214 0.0960 0.1020
Announcement Date 3/11/19 3/11/20 3/17/21 3/15/22 3/14/23 3/19/24
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 37.25 37.12 19.91 43.21 29.63 30.6
EBITDA 1 24.65 25.19 11.07 31.83 20.58 20.04
EBIT 1 22.84 23.31 9.304 30.77 19.39 18.83
Operating Margin 61.31% 62.81% 46.74% 71.21% 65.45% 61.53%
Earnings before Tax (EBT) 1 16.01 16.31 2.238 12.86 13.46 16.21
Net income 1 14.5 14.58 1.005 12.54 12.48 14.42
Net margin 38.94% 39.29% 5.05% 29.02% 42.12% 47.13%
EPS 2 0.007626 0.007673 0.000535 0.006874 0.006886 0.008126
Free Cash Flow 1 9.8 6.979 -2.309 14.87 17.16 -1.164
FCF margin 26.31% 18.8% -11.6% 34.41% 57.91% -3.8%
FCF Conversion (EBITDA) 39.75% 27.7% - 46.7% 83.38% -
FCF Conversion (Net income) 67.57% 47.85% - 118.57% 137.48% -
Dividend per Share 2 0.004600 0.004600 0.002900 0.004900 0.002900 0.004000
Announcement Date 3/11/19 3/11/20 3/17/21 3/15/22 3/14/23 3/19/24
1KWD in Million2KWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 166 178 189 174 184 187
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 6.744 x 7.06 x 17.08 x 5.469 x 8.94 x 9.318 x
Free Cash Flow 1 9.8 6.98 -2.31 14.9 17.2 -1.16
ROE (net income / shareholders' equity) 5.05% 5.14% 0.72% 4.11% 4.28% 5.13%
ROA (Net income/ Total Assets) 2.74% 2.75% 1.08% 3.58% 2.22% 2.11%
Assets 1 529.3 531.1 92.99 350.1 561.4 683
Book Value Per Share 2 0.1600 0.1600 0.1500 0.1600 0.1600 0.1700
Cash Flow per Share 2 0 0 0 0.0100 0 0
Capex 1 0.34 1.03 0.61 0.91 0.32 0.61
Capex / Sales 0.9% 2.77% 3.05% 2.1% 1.08% 1.98%
Announcement Date 3/11/19 3/11/20 3/17/21 3/15/22 3/14/23 3/19/24
1KWD in Million2KWD
Estimates
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