QATAR NAVIGATION Q.P.S.C. |
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|
5-day change | 1st Jan Change | ||
| 10.61 QAR | -2.21% |
|
-0.38% | +9.38% |
| Feb. 22 | Qatar Navigation Q.P.S.C. Announces CEO Changes | CI |
| Feb. 07 | Transcript : Qatar Navigation Q.P.S.C., Q4 2023 Earnings Call, Feb 07, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,931 | 8,059 | 8,678 | 11,532 | 11,021 | 12,055 | - | - |
| Enterprise Value (EV) 1 | 6,931 | 10,048 | 8,678 | 11,532 | 11,021 | 12,055 | 12,055 | 12,055 |
| P/E ratio | 12.7 x | 142 x | 11.9 x | 11.4 x | 10.7 x | 9.78 x | 8.77 x | 8.16 x |
| Yield | 4.92% | 4.23% | 3.93% | 3.45% | 3.87% | 4.1% | 4.57% | 4.95% |
| Capitalization / Revenue | 2.89 x | 3.55 x | 3.12 x | 3.51 x | 3.75 x | 3.9 x | 3.78 x | 3.67 x |
| EV / Revenue | 2.89 x | 3.55 x | 3.12 x | 3.51 x | 3.75 x | 3.9 x | 3.78 x | 3.67 x |
| EV / EBITDA | 10.8 x | 12.5 x | 14 x | 13.5 x | 13.3 x | 13.4 x | 12.9 x | 12.3 x |
| EV / FCF | 16.7 x | 30 x | 32.4 x | 94.9 x | 25.8 x | 9.96 x | 9.14 x | 8.83 x |
| FCF Yield | 5.98% | 3.33% | 3.09% | 1.05% | 3.87% | 10% | 10.9% | 11.3% |
| Price to Book | 0.48 x | 0.59 x | 0.59 x | 0.72 x | 0.66 x | 0.69 x | 0.65 x | 0.62 x |
| Nbr of stocks (in thousands) | 1,136,165 | 1,136,165 | 1,136,165 | 1,136,165 | 1,136,165 | 1,136,165 | - | - |
| Reference price 2 | 6.100 | 7.093 | 7.638 | 10.15 | 9.700 | 10.61 | 10.61 | 10.61 |
| Announcement Date | 2/26/20 | 2/24/21 | 2/9/22 | 2/15/23 | 2/5/24 | - | - | - |
1QAR in Million2QAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,401 | 2,267 | 2,784 | 3,285 | 2,942 | 3,090 | 3,188 | 3,288 |
| EBITDA 1 | 644.4 | 645.7 | 620.6 | 856.8 | 827.5 | 897 | 938 | 981 |
| EBIT 1 | 282.6 | 278.8 | 253 | 486.9 | 436.3 | 496 | 527.5 | 562 |
| Operating Margin | 11.77% | 12.3% | 9.09% | 14.82% | 14.83% | 16.05% | 16.54% | 17.1% |
| Earnings before Tax (EBT) 1 | 546 | 64.18 | 730.1 | 1,017 | 1,043 | 1,246 | 1,390 | 1,496 |
| Net income 1 | 546.8 | 59.11 | 724.2 | 1,013 | 1,030 | 1,232 | 1,374 | 1,477 |
| Net margin | 22.77% | 2.61% | 26.01% | 30.83% | 35.02% | 39.88% | 43.09% | 44.93% |
| EPS 2 | 0.4800 | 0.0500 | 0.6400 | 0.8900 | 0.9100 | 1.085 | 1.210 | 1.300 |
| Free Cash Flow 1 | 414.8 | 268.4 | 268.2 | 121.5 | 426.5 | 1,210 | 1,319 | 1,365 |
| FCF margin | 17.27% | 11.84% | 9.64% | 3.7% | 14.5% | 39.16% | 41.37% | 41.52% |
| FCF Conversion (EBITDA) | 64.37% | 41.57% | 43.22% | 14.18% | 51.54% | 134.89% | 140.62% | 139.14% |
| FCF Conversion (Net income) | 75.86% | 454.05% | 37.04% | 11.99% | 41.4% | 98.21% | 96% | 92.42% |
| Dividend per Share 2 | 0.3000 | 0.3000 | 0.3000 | 0.3500 | 0.3750 | 0.4350 | 0.4850 | 0.5250 |
| Announcement Date | 2/26/20 | 2/24/21 | 2/9/22 | 2/15/23 | 2/5/24 | - | - | - |
1QAR in Million2QAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 661.4 | 749.1 | 912.7 | 861 | 789.1 | 722.4 | 766.2 | 744.6 | 716.6 | 714.4 | 850.6 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | 61.32 | - | - | 113.7 | 62.88 | - | 133.6 | 270.1 | - | - |
| Operating Margin | - | 8.19% | - | - | 14.4% | 8.7% | - | 17.94% | 37.69% | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | 69.86 | - | - | 209.7 | 162.1 | - | 284.4 | 222.1 | 160.5 | - |
| Net margin | - | 9.33% | - | - | 26.58% | 22.44% | - | 38.19% | 30.99% | 22.46% | - |
| EPS 2 | 0.1900 | 0.2500 | 0.3200 | 0.2400 | 0.1900 | 0.1400 | 0.3200 | - | 0.2000 | 0.1400 | 0.3210 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/27/21 | 2/9/22 | 4/19/22 | 8/10/22 | 10/20/22 | 2/15/23 | 4/18/23 | 8/7/23 | 10/18/23 | 2/5/24 | - |
1QAR in Million2QAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | 1,989 | - | - | - | - | - | - |
| Net Cash position | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 3.08 x | - | - | - | - | - | - |
| Free Cash Flow 1 | 415 | 268 | 268 | 121 | 427 | 1,210 | 1,319 | 1,365 |
| ROE (net income / shareholders' equity) | 3.75% | 0.42% | 5.1% | 6.58% | 6.3% | 7.2% | 7.65% | 7.8% |
| ROA (Net income/ Total Assets) | 3.08% | 0.34% | 4.2% | 5.66% | 5.64% | 6.95% | 7.45% | 7.65% |
| Assets 1 | 17,739 | 17,343 | 17,241 | 17,891 | 18,265 | 17,727 | 18,443 | 19,307 |
| Book Value Per Share 2 | 12.80 | 12.10 | 12.90 | 14.10 | 14.70 | 15.40 | 16.30 | 17.10 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 237 | 252 | 243 | 369 | 243 | 306 | 313 | 320 |
| Capex / Sales | 9.86% | 11.1% | 8.74% | 11.22% | 8.25% | 9.9% | 9.82% | 9.73% |
| Announcement Date | 2/26/20 | 2/24/21 | 2/9/22 | 2/15/23 | 2/5/24 | - | - | - |
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
3
Last Close Price
10.61
QAR
Average target price
12.4
QAR
Spread / Average Target
+16.87%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +9.38% | 3.31B | |
| +24.30% | 31.49B | |
| +21.02% | 23.83B | |
| -14.91% | 23.03B | |
| -3.80% | 12.27B | |
| +4.34% | 10.85B | |
| +45.92% | 9.64B | |
| +3.71% | 9.39B | |
| -1.74% | 9.03B | |
| +3.13% | 7.96B |
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