NATIONAL CENTRAL COOLING COMPANY |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3.08 AED | +4.41% |
|
+4.41% | -13.97% |
| Apr. 04 | National Central Cooling Company PJSC Announces Results and Acceptance of Tender Offer | CI |
| Mar. 20 | National Central Cooling Company Resumes Trading on Dubai Financial Market | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,210 | 7,191 | 7,018 | 8,412 | 10,174 | 8,753 | - | - |
| Enterprise Value (EV) 1 | 8,124 | 12,569 | 12,935 | 13,948 | 15,103 | 13,313 | 12,988 | 8,753 |
| P/E ratio | 11.3 x | 13.2 x | 12 x | 14.1 x | 23.9 x | 13.4 x | 12.5 x | 11 x |
| Yield | 5.47% | 2.17% | 2.37% | 4.56% | - | 4.98% | 5.3% | 5.84% |
| Capitalization / Revenue | 3.43 x | 4.13 x | 3.59 x | 3.8 x | 4.21 x | 3.38 x | 3.3 x | 3.1 x |
| EV / Revenue | 5.34 x | 7.22 x | 6.62 x | 6.29 x | 6.25 x | 5.14 x | 4.89 x | 3.1 x |
| EV / EBITDA | 11.6 x | 14.7 x | 15.3 x | 12.5 x | 13.1 x | 10.8 x | 9.86 x | 6.15 x |
| EV / FCF | 12 x | 24 x | -153 x | 11.9 x | 13.4 x | 15 x | 12.9 x | 7.83 x |
| FCF Yield | 8.35% | 4.16% | -0.65% | 8.39% | 7.49% | 6.65% | 7.74% | 12.8% |
| Price to Book | 1.05 x | 1.39 x | 1.22 x | 1.3 x | 1.61 x | 1.27 x | 1.22 x | 1.14 x |
| Nbr of stocks (in thousands) | 2,836,224 | 2,836,224 | 2,836,270 | 2,841,984 | 2,841,973 | 2,841,973 | - | - |
| Reference price 2 | 1.837 | 2.535 | 2.474 | 2.960 | 3.580 | 3.080 | 3.080 | 3.080 |
| Announcement Date | 1/28/20 | 2/15/21 | 2/15/22 | 2/15/23 | 2/14/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,520 | 1,741 | 1,955 | 2,216 | 2,415 | 2,592 | 2,654 | 2,827 |
| EBITDA 1 | 702.3 | 852.5 | 846.7 | 1,113 | 1,151 | 1,231 | 1,317 | 1,423 |
| EBIT 1 | 532.3 | 630.1 | 624.3 | 793.1 | 809.6 | 881 | 952.1 | 1,082 |
| Operating Margin | 35.02% | 36.2% | 31.93% | 35.79% | 33.52% | 33.99% | 35.88% | 38.28% |
| Earnings before Tax (EBT) 1 | 472.5 | 550.3 | 610.7 | 633.4 | 785.4 | 734.4 | 809.4 | 938.4 |
| Net income 1 | 472.5 | 550.3 | 585.2 | 600.2 | 431.1 | 665.2 | 721.2 | 814.4 |
| Net margin | 31.08% | 31.62% | 29.93% | 27.08% | 17.85% | 25.66% | 27.18% | 28.81% |
| EPS 2 | 0.1626 | 0.1914 | 0.2054 | 0.2100 | 0.1500 | 0.2300 | 0.2467 | 0.2800 |
| Free Cash Flow 1 | 678.3 | 523 | -84.34 | 1,171 | 1,131 | 885.5 | 1,005 | 1,118 |
| FCF margin | 44.62% | 30.04% | -4.31% | 52.82% | 46.83% | 34.16% | 37.89% | 39.53% |
| FCF Conversion (EBITDA) | 96.59% | 61.35% | - | 105.18% | 98.26% | 71.93% | 76.35% | 78.55% |
| FCF Conversion (Net income) | 143.56% | 95.03% | - | 195.04% | 262.36% | 133.12% | 139.41% | 137.21% |
| Dividend per Share 2 | 0.1005 | 0.0550 | 0.0587 | 0.1350 | - | 0.1533 | 0.1633 | 0.1800 |
| Announcement Date | 1/28/20 | 2/15/21 | 2/15/22 | 2/15/23 | 2/14/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 595.7 | 490.4 | 419.9 | - | 683.8 | 463.7 | 603.8 | 755.4 | 592.6 |
| EBITDA 1 | - | - | 230.2 | - | 294.6 | 249.9 | 303 | 302.9 | 274.4 |
| EBIT 1 | 157.4 | 140.8 | - | - | - | - | - | - | 199.1 |
| Operating Margin | 26.43% | 28.72% | - | - | - | - | - | - | 33.59% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - |
| Net income 1 | 154.5 | 197.2 | - | 240.4 | - | 236.4 | 150 | -101.3 | 146 |
| Net margin | 25.94% | 40.2% | - | - | - | 50.97% | 24.85% | -13.4% | 24.64% |
| EPS 2 | - | - | - | 0.0850 | - | - | - | -0.0400 | 0.0500 |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/14/21 | 2/15/22 | 5/12/22 | 7/27/22 | 11/15/22 | 5/12/23 | 7/28/23 | 11/14/23 | 2/14/24 |
1AED in Million2AED
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 2,914 | 5,378 | 5,917 | 5,536 | 4,929 | 4,560 | 4,235 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.15 x | 6.309 x | 6.989 x | 4.974 x | 4.281 x | 3.704 x | 3.216 x | - |
| Free Cash Flow 1 | 678 | 523 | -84.3 | 1,171 | 1,131 | 886 | 1,005 | 1,118 |
| ROE (net income / shareholders' equity) | 9.83% | 10.9% | 10.7% | 9.82% | 6.74% | 9.97% | 10.3% | 11.3% |
| ROA (Net income/ Total Assets) | 5.43% | 4.95% | 4.16% | 3.96% | 2.85% | 4.33% | 5% | 6.1% |
| Assets 1 | 8,694 | 11,108 | 14,073 | 15,142 | 15,133 | 15,362 | 14,438 | 13,352 |
| Book Value Per Share 2 | 1.740 | 1.820 | 2.030 | 2.280 | 2.220 | 2.420 | 2.520 | 2.710 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 104 | 106 | 1,401 | 184 | 180 | 240 | 307 | 321 |
| Capex / Sales | 6.81% | 6.11% | 71.65% | 8.32% | 7.47% | 9.26% | 11.55% | 11.34% |
| Announcement Date | 1/28/20 | 2/15/21 | 2/15/22 | 2/15/23 | 2/14/24 | - | - | - |
1AED in Million2AED
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
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
3.08
AED
Average target price
4.116
AED
Spread / Average Target
+33.63%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -13.97% | 2.38B | |
| -4.82% | 4.3B | |
| +6.17% | 1.88B | |
| -13.25% | 1.23B | |
| -2.44% | 615M | |
| -21.11% | 401M | |
| -13.19% | 393M | |
| -13.68% | 388M | |
| -7.54% | 366M | |
| -0.16% | 262M |
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