Company Valuation: National Cleaning Company K.P.S.C.

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 15.99 12.38 13.16 7.635 9.023 14.07
Change - -22.57% 6.36% -42% 18.18% 55.9%
Enterprise Value (EV) 1 60.17 57.38 62.27 50.98 42.03 38.02
Change - -4.64% 8.52% -18.13% -17.56% -9.52%
P/E ratio 10.1x -5.12x -6.05x -2.27x 19.9x 12.6x
PBR 0.44x 0.37x 0.42x 0.27x 0.32x 0.48x
PEG - 0x 0.6x -0x -0x 0x
Capitalization / Revenue 0.41x 0.34x 0.38x 0.22x 0.26x 0.38x
EV / Revenue 1.53x 1.6x 1.79x 1.46x 1.22x 1.03x
EV / EBITDA 10.3x 14.6x 16.4x 15.5x 6.77x 9.71x
EV / EBIT 27x -24.5x -22.7x -14.2x -69.8x -17.5x
EV / FCF -2.39x -202x -15.4x 5.63x 7.24x 155x
FCF Yield -41.9% -0.5% -6.49% 17.8% 13.8% 0.65%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.006838 -0.0105 -0.0094 -0.0145 0.001964 0.004835
Distribution rate - - - - - -
Net sales 1 39.21 35.91 34.77 34.9 34.54 37.06
EBITDA 1 5.869 3.943 3.785 3.281 6.212 3.916
EBIT 1 2.23 -2.346 -2.745 -3.595 -0.6022 -2.171
Net income 1 1.591 -2.42 -2.175 -3.363 0.4546 1.119
Net Debt 1 44.19 45 49.1 43.34 33 23.96
Reference price 2 0.0690 0.0535 0.0569 0.0330 0.0390 0.0608
Nbr of stocks (in thousands) 231,699 231,367 231,367 231,367 231,367 231,367
Announcement Date 6/9/20 3/29/21 4/3/22 4/2/23 3/14/24 5/14/25
1KWD in Million2KWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 75.36M
16.79x1.9x5.39x1.93% 6.61B
22.5x0.72x12.27x-.--% 1.5B
6.57x0.5x3.93x4.78% 410M
4.24x - - 6.5% 65.29M
15.47x0.97x7.9x - 59.98M
Average 13.11x 1.02x 7.37x 3.3% 1.45B
Weighted average by Cap. 17.19x 1.62x 6.54x 1.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation National Cleaning Company K.P.S.C.