QATAR ELECTRICITY & WATER COMPANY Q.P.S.C. Financials Qatar Electricity & Water Company Q.P.S.C.
Equities
QEWS
QA0006929812
Multiline Utilities
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 15.3 QAR | -2.86% |
|
-5.44% | -18.62% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 17,699 | 19,635 | 18,260 | 19,470 | 20,680 | 16,830 | - | - |
| Enterprise Value (EV) 1 | 20,872 | 22,575 | 20,313 | 19,470 | 23,754 | 19,173 | 18,715 | 19,012 |
| P/E ratio | 12.5 x | 17 x | 12.5 x | 11.3 x | 13.3 x | 11.8 x | 10.9 x | 10.6 x |
| Yield | 4.82% | 4.34% | 3.8% | 5.37% | 4.57% | 5.45% | 5.95% | 6.21% |
| Capitalization / Revenue | 7.41 x | 7.93 x | 7.38 x | 7.15 x | 7.1 x | 5.56 x | 5.45 x | 5.32 x |
| EV / Revenue | 8.74 x | 9.12 x | 8.21 x | 7.15 x | 8.16 x | 6.33 x | 6.06 x | 6.01 x |
| EV / EBITDA | 21.6 x | 24.6 x | 18.6 x | 18.4 x | 22.4 x | 17.8 x | 17 x | 17.4 x |
| EV / FCF | 20.4 x | 19.5 x | 17 x | 16 x | 22.7 x | 11.2 x | 11.9 x | 13.1 x |
| FCF Yield | 4.91% | 5.14% | 5.87% | 6.24% | 4.4% | 8.95% | 8.4% | 7.61% |
| Price to Book | 1.77 x | 2.01 x | 1.55 x | 1.29 x | 1.39 x | 1.07 x | 1.02 x | 0.99 x |
| Nbr of stocks (in thousands) | 1,100,000 | 1,100,000 | 1,100,000 | 1,100,000 | 1,100,000 | 1,100,000 | - | - |
| Reference price 2 | 16.09 | 17.85 | 16.60 | 17.70 | 18.80 | 15.30 | 15.30 | 15.30 |
| Announcement Date | 2/17/20 | 2/15/21 | 2/13/22 | 2/19/23 | 2/14/24 | - | - | - |
1QAR in Million2QAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,389 | 2,476 | 2,475 | 2,721 | 2,911 | 3,027 | 3,088 | 3,163 |
| EBITDA 1 | 967.8 | 917.1 | 1,093 | 1,058 | 1,061 | 1,079 | 1,100 | 1,091 |
| EBIT 1 | 681 | 624.6 | 817.3 | 754.5 | 723.7 | 725 | 757.8 | 756 |
| Operating Margin | 28.51% | 25.22% | 33.03% | 27.72% | 24.86% | 23.95% | 24.54% | 23.9% |
| Earnings before Tax (EBT) 1 | 1,441 | 1,183 | 1,490 | 1,750 | 1,561 | 1,440 | 1,566 | 1,608 |
| Net income 1 | 1,414 | 1,158 | 1,468 | 1,711 | 1,551 | 1,430 | 1,542 | 1,585 |
| Net margin | 59.19% | 46.75% | 59.32% | 62.86% | 53.29% | 47.24% | 49.94% | 50.11% |
| EPS 2 | 1.290 | 1.050 | 1.330 | 1.560 | 1.410 | 1.300 | 1.400 | 1.440 |
| Free Cash Flow 1 | 1,025 | 1,159 | 1,193 | 1,215 | 1,044 | 1,716 | 1,572 | 1,447 |
| FCF margin | 42.9% | 46.82% | 48.21% | 44.66% | 35.87% | 56.69% | 50.92% | 45.74% |
| FCF Conversion (EBITDA) | 105.89% | 126.41% | 109.15% | 114.89% | 98.43% | 159.01% | 142.99% | 132.67% |
| FCF Conversion (Net income) | 72.48% | 100.15% | 81.27% | 71.04% | 67.32% | 119.99% | 101.95% | 91.29% |
| Dividend per Share 2 | 0.7750 | 0.7750 | 0.6300 | 0.9500 | 0.8600 | 0.8333 | 0.9100 | 0.9500 |
| Announcement Date | 2/17/20 | 2/15/21 | 2/13/22 | 2/19/23 | 2/14/24 | - | - | - |
1QAR in Million2QAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 634.5 | 564.9 | 635.4 | 711.1 | 658 | 721.6 | 798.1 | 733.4 | 687.3 |
| EBITDA | 285.3 | 404.9 | - | 265.7 | - | 279.6 | - | 326.8 | - |
| EBIT | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - |
| Net income | 291.9 | 388.7 | - | 565.4 | - | - | - | 442.4 | - |
| Net margin | 46.01% | 68.81% | - | 79.51% | - | - | - | 60.32% | - |
| EPS | 0.2600 | 0.3500 | 0.2700 | 0.5100 | - | - | - | 0.4000 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/13/22 | 5/10/22 | 7/18/22 | 10/27/22 | 4/22/23 | 8/15/23 | 12/5/23 | 2/14/24 | 4/23/24 |
1QAR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,173 | 2,940 | 2,053 | - | 3,074 | 2,343 | 1,885 | 2,182 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.279 x | 3.206 x | 1.878 x | - | 2.897 x | 2.171 x | 1.714 x | 2.001 x |
| Free Cash Flow 1 | 1,025 | 1,159 | 1,193 | 1,215 | 1,044 | 1,716 | 1,572 | 1,447 |
| ROE (net income / shareholders' equity) | 13.8% | 11.7% | 13.6% | 12.7% | 10.3% | 9.23% | 9.58% | 9.78% |
| ROA (Net income/ Total Assets) | 7.93% | 6.68% | 8.24% | 7.39% | 6.07% | 5.89% | 6.26% | 6.58% |
| Assets 1 | 17,839 | 17,323 | 17,820 | 23,150 | 25,550 | 24,267 | 24,624 | 24,100 |
| Book Value Per Share 2 | 9.090 | 8.870 | 10.70 | 13.70 | 13.50 | 14.30 | 15.00 | 15.40 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 99.4 | 4.84 | 42.4 | 36.3 | 51 | 36.1 | 52.6 | 59.5 |
| Capex / Sales | 4.16% | 0.2% | 1.71% | 1.33% | 1.75% | 1.19% | 1.7% | 1.88% |
| Announcement Date | 2/17/20 | 2/15/21 | 2/13/22 | 2/19/23 | 2/14/24 | - | - | - |
1QAR in Million2QAR
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
D
Sell
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
15.3
QAR
Average target price
21.12
QAR
Spread / Average Target
+38.02%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -18.62% | 4.62B | |
| -20.00% | 85.7B | |
| +63.42% | 81.88B | |
| -.--% | 51.55B | |
| -0.90% | 48.58B | |
| -4.56% | 45.12B | |
| +1.14% | 41.62B | |
| +2.14% | 34.6B | |
| +10.91% | 33.81B | |
| -10.00% | 23.21B |
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