SAUDI CEMENT COMPANY |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 45.9 SAR | +0.88% |
|
-2.34% | -12.74% |
| Mar. 14 | Saudi Cement Company Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Mar. 07 | Saudi Cement Posts Lower FY23 Net Profit; Revenue Climbs | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 10,725 | 9,410 | 8,384 | 7,803 | 8,048 | 7,023 | - | - |
| Enterprise Value (EV) 1 | 11,226 | 9,716 | 8,677 | 8,059 | 8,378 | 7,268 | 7,147 | 7,023 |
| P/E ratio | 23.8 x | 20.6 x | 25.3 x | 19.5 x | 21.1 x | 17.4 x | 18.5 x | 17.6 x |
| Yield | 4.99% | 5.69% | 6.39% | 6.37% | 4.75% | 4.65% | 6.21% | 5.88% |
| Capitalization / Revenue | 7.44 x | 5.99 x | 5.95 x | 5.5 x | 5.51 x | 4.58 x | 4.4 x | 4.22 x |
| EV / Revenue | 7.79 x | 6.19 x | 6.16 x | 5.68 x | 5.73 x | 4.74 x | 4.48 x | 4.22 x |
| EV / EBITDA | 16.1 x | 13.8 x | 15.2 x | 12.7 x | 14.5 x | 11.5 x | 11.3 x | 11.3 x |
| EV / FCF | 19.2 x | 13.2 x | 12.3 x | 14.2 x | 18.5 x | 15.5 x | 13.2 x | - |
| FCF Yield | 5.21% | 7.58% | 8.16% | 7.03% | 5.41% | 6.44% | 7.58% | - |
| Price to Book | 3.93 x | 3.55 x | 3.45 x | - | 3.73 x | 3.26 x | 3.26 x | 3.26 x |
| Nbr of stocks (in thousands) | 153,000 | 153,000 | 153,000 | 153,000 | 153,000 | 153,000 | - | - |
| Reference price 2 | 70.10 | 61.50 | 54.80 | 51.00 | 52.60 | 45.90 | 45.90 | 45.90 |
| Announcement Date | 3/4/20 | 2/22/21 | 3/1/22 | 3/20/23 | 3/7/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,442 | 1,570 | 1,410 | 1,420 | 1,462 | 1,534 | 1,594 | 1,666 |
| EBITDA 1 | 698 | 703.9 | 571.6 | 634.8 | 577 | 633.5 | 633.5 | 620 |
| EBIT 1 | 491 | 479.1 | 344.3 | 403.9 | 362.4 | 382 | 389.7 | 387.5 |
| Operating Margin | 34.06% | 30.52% | 24.43% | 28.45% | 24.79% | 24.9% | 24.44% | 23.26% |
| Earnings before Tax (EBT) | 467.9 | 480 | 355.9 | - | 399 | - | - | - |
| Net income 1 | 451.4 | 456 | 331.9 | 398.8 | 381 | 363.3 | 384 | 430 |
| Net margin | 31.31% | 29.05% | 23.55% | 28.09% | 26.06% | 23.68% | 24.09% | 25.81% |
| EPS 2 | 2.950 | 2.980 | 2.170 | 2.610 | 2.490 | 2.638 | 2.483 | 2.610 |
| Free Cash Flow 1 | 584.6 | 736 | 708.2 | 566.8 | 453.2 | 468 | 542 | - |
| FCF margin | 40.55% | 46.89% | 50.24% | 39.92% | 31% | 30.5% | 34% | - |
| FCF Conversion (EBITDA) | 83.75% | 104.55% | 123.89% | 89.29% | 78.54% | 73.88% | 85.56% | - |
| FCF Conversion (Net income) | 129.5% | 161.42% | 213.35% | 142.12% | 118.95% | 128.81% | 141.15% | - |
| Dividend per Share 2 | 3.500 | 3.500 | 3.500 | 3.250 | 2.500 | 2.133 | 2.850 | 2.700 |
| Announcement Date | 3/4/20 | 2/22/21 | 3/1/22 | 3/20/23 | 3/7/24 | - | - | - |
1SAR in Million2SAR
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 | 304.9 | 327.5 | 315.1 | 349 | 328.1 | 427.7 | 409.6 | 356.3 | 315 | 380.9 | 412.3 |
| EBITDA | - | - | - | - | - | 212.6 | - | - | - | - | - |
| EBIT 1 | 60.3 | 64.91 | 60.08 | 102.9 | 85.75 | 155.1 | 123.7 | - | 60.68 | 84.23 | 86 |
| Operating Margin | 19.78% | 19.82% | 19.07% | 29.5% | 26.14% | 36.27% | 30.21% | - | 19.26% | 22.11% | 20.86% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 58.72 | 67.4 | 61.13 | 102.5 | 80.65 | 154.5 | 123.8 | 85.18 | 68.62 | 103.8 | 100.4 |
| Net margin | 19.26% | 20.58% | 19.4% | 29.38% | 24.58% | 36.13% | 30.22% | 23.91% | 21.78% | 27.24% | 24.35% |
| EPS 2 | 0.3800 | - | - | - | 0.5300 | 1.010 | 0.8100 | 0.5600 | 0.4500 | 0.6800 | 0.9200 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/2/21 | 3/1/22 | 4/28/22 | 8/16/22 | 11/7/22 | 3/20/23 | 5/18/23 | 8/13/23 | 11/7/23 | 3/7/24 | - |
1SAR in Million2SAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 501 | 306 | 292 | 256 | 331 | 245 | 124 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.7173 x | 0.4351 x | 0.511 x | 0.4036 x | 0.5731 x | 0.3867 x | 0.1957 x | - |
| Free Cash Flow 1 | 585 | 736 | 708 | 567 | 453 | 468 | 542 | - |
| ROE (net income / shareholders' equity) | 16.4% | 16.9% | 13.1% | 16.9% | 17.1% | 17.2% | 17.5% | 19.6% |
| ROA (Net income/ Total Assets) | 11.5% | 12% | - | - | 11.7% | 9.3% | 11.3% | 12.8% |
| Assets 1 | 3,918 | 3,794 | - | - | 3,246 | 3,907 | 3,398 | 3,359 |
| Book Value Per Share 2 | 17.80 | 17.30 | 15.90 | - | 14.10 | 14.10 | 14.10 | 14.10 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 137 | 73.6 | 64.1 | 74.7 | 80.2 | 82.2 | 85.2 | 80 |
| Capex / Sales | 9.48% | 4.69% | 4.54% | 5.26% | 5.49% | 5.36% | 5.34% | 4.8% |
| Announcement Date | 3/4/20 | 2/22/21 | 3/1/22 | 3/20/23 | 3/7/24 | - | - | - |
1SAR in Million2SAR
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
HOLD
Number of Analysts
8
Last Close Price
45.9
SAR
Average target price
54.06
SAR
Spread / Average Target
+17.78%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -12.74% | 1.87B | |
| +16.90% | 47.3B | |
| +1.22% | 15.66B | |
| -5.38% | 15.27B | |
| -14.69% | 10.57B | |
| +23.60% | 8.64B | |
| -3.59% | 7.71B | |
| +105.28% | 7.91B | |
| -8.03% | 7.4B | |
| +22.95% | 6.7B |
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