Stock 5110 SAUDI ELECTRICITY COMPANY
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Financials Saudi Electricity Company

Equities

5110

SA0007879550

Electric Utilities

End-of-day quote Saudi Arabian S.E.
Other stock markets
 06:00:00 2024-04-24 pm EDT 		5-day change 1st Jan Change
19.36 SAR 0.00% Intraday chart for Saudi Electricity Company -2.81% +2.00%
Apr. 04 Saudi Electricity Co. Fully Redeems $1.5 Billion Sukuk MT
Mar. 28 Bawan Co Secures Contracts Worth SAR410 million from Saudi Electricity Co MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 84,249 88,748 99,915 96,248 79,082 80,665 - -
Enterprise Value (EV) 1 242,854 197,929 202,553 192,940 188,414 353,558 342,928 80,665
P/E ratio 61.3 x 42.6 x 14.8 x - 30.6 x 16.8 x 13.4 x 10.8 x
Yield 3.46% 3.29% 2.92% 3.03% 3.69% 3.62% 3.62% 3.62%
Capitalization / Revenue 1.3 x 1.29 x 1.44 x 1.34 x 1.05 x 1.02 x 0.97 x 0.93 x
EV / Revenue 3.73 x 2.88 x 2.92 x 2.68 x 2.5 x 4.48 x 4.14 x 0.93 x
EV / EBITDA 9.62 x 7.49 x 5.15 x 5.17 x 5.55 x 10.1 x 8.33 x 1.69 x
EV / FCF 56.6 x 41.2 x 10.1 x 21.4 x 423 x 39 x 25.3 x -
FCF Yield 1.77% 2.43% 9.93% 4.68% 0.24% 2.57% 3.95% -
Price to Book 1.15 x 0.36 x 0.4 x - 0.31 x 0.31 x 0.31 x 0.3 x
Nbr of stocks (in thousands) 4,166,594 4,166,594 4,166,594 4,166,594 4,166,594 4,166,594 - -
Reference price 2 20.22 21.30 23.98 23.10 18.98 19.36 19.36 19.36
Announcement Date 2/26/20 3/31/21 3/21/22 3/21/23 3/6/24 - - -
1SAR in Million2SAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 65,040 68,709 69,338 72,079 75,330 78,943 82,794 86,494
EBITDA 1 25,249 26,415 39,349 37,309 33,923 34,893 41,192 47,724
EBIT 1 6,535 8,439 19,657 17,986 14,166 15,378 20,199 24,001
Operating Margin 10.05% 12.28% 28.35% 24.95% 18.81% 19.48% 24.4% 27.75%
Earnings before Tax (EBT) 1 1,608 2,740 14,847 - 10,598 15,632 16,571 18,019
Net income 1 1,388 3,026 14,391 15,135 10,249 11,374 15,450 17,354
Net margin 2.13% 4.4% 20.75% 21% 13.61% 14.41% 18.66% 20.06%
EPS 2 0.3300 0.5000 1.620 - 0.6200 1.150 1.450 1.790
Free Cash Flow 1 4,292 4,810 20,119 9,032 445.3 9,071 13,547 -
FCF margin 6.6% 7% 29.02% 12.53% 0.59% 11.49% 16.36% -
FCF Conversion (EBITDA) 17% 18.21% 51.13% 24.21% 1.31% 26% 32.89% -
FCF Conversion (Net income) 309.22% 158.97% 139.81% 59.68% 4.34% 79.75% 87.69% -
Dividend per Share 2 0.7000 0.7000 0.7000 0.7000 0.7000 0.7000 0.7000 0.7000
Announcement Date 2/26/20 3/31/21 3/21/22 3/21/23 3/6/24 - - -
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 2024 Q1
Net sales 1 22,037 15,017 13,531 19,402 22,750 16,397 13,379 19,718 23,799 13,710
EBITDA - - - - - - - - - -
EBIT 1 8,526 1,797 2,403 5,890 7,192 2,724 1,522 5,834 7,185 1,828
Operating Margin 38.69% 11.97% 17.76% 30.36% 31.61% 16.61% 11.38% 29.59% 30.19% 13.33%
Earnings before Tax (EBT) - - - - - - - - - -
Net income 1 - -505.9 1,517 5,502 6,375 1,740 479.7 4,017 5,844 530
Net margin - -3.37% 11.21% 28.36% 28.02% 10.61% 3.59% 20.37% 24.56% 3.87%
EPS - - - - - - - - - -
Dividend per Share - - - - - - - - - -
Announcement Date 11/8/21 3/21/22 5/22/22 8/23/22 11/16/22 3/21/23 5/16/23 8/8/23 11/7/23 -
1SAR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 158,605 109,181 102,638 96,691 109,332 272,893 262,263 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.282 x 4.133 x 2.608 x 2.592 x 3.223 x 7.821 x 6.367 x -
Free Cash Flow 1 4,292 4,810 20,119 9,032 445 9,071 13,547 -
ROE (net income / shareholders' equity) 2.18% 1.88% 8.57% 5.95% 3.99% 12.3% 10% 10.9%
ROA (Net income/ Total Assets) 0.34% 0.63% 3% - 2.09% 3.1% 3.2% 3.3%
Assets 1 407,516 482,644 480,160 - 490,148 366,903 482,797 525,894
Book Value Per Share 2 17.70 59.50 60.40 - 61.70 62.50 63.20 64.20
Cash Flow per Share - - - - - - - -
Capex 1 21,413 23,328 26,164 29,689 32,174 28,420 33,325 52,007
Capex / Sales 32.92% 33.95% 37.73% 41.19% 42.71% 36% 40.25% 60.13%
Announcement Date 2/26/20 3/31/21 3/21/22 3/21/23 3/6/24 - - -
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

Ratings for Saudi Electricity Company

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
19.36 SAR
Average target price
22.13 SAR
Spread / Average Target
+14.33%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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