SAUDI KAYAN PETROCHEMICAL COMPANY |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 9.54 SAR | +4.26% |
|
+3.70% | -12.96% |
| Apr. 29 | Saudi Shares Surge Amid Earnings Buzz; EU, Saudi Plan MOU for Clean Tech | MT |
| Apr. 29 | Saudi Kayan Petrochemical Co. Posts Lower Q1 Loss; Revenue Grows | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 16,650 | 21,450 | 25,530 | 20,490 | 16,440 | 14,310 | - | - |
| Enterprise Value (EV) 1 | 33,672 | 37,128 | 37,989 | 30,147 | 26,056 | 23,408 | 22,174 | 20,428 |
| P/E ratio | -26.4 x | -27.5 x | 10.6 x | -16.5 x | -7.72 x | -13.1 x | 34.3 x | 20.5 x |
| Yield | - | - | - | - | - | - | 2.62% | 3.98% |
| Capitalization / Revenue | 1.75 x | 2.68 x | 2.02 x | 1.84 x | 2.01 x | 1.5 x | 1.38 x | 1.33 x |
| EV / Revenue | 3.53 x | 4.64 x | 3 x | 2.7 x | 3.19 x | 2.45 x | 2.14 x | 1.9 x |
| EV / EBITDA | 12.6 x | 17.3 x | 7.29 x | 20.2 x | 26.9 x | 14.3 x | 7.17 x | 6.38 x |
| EV / FCF | 17.8 x | 26.5 x | 11.2 x | 10.7 x | 252 x | 11.4 x | 8.02 x | 7.17 x |
| FCF Yield | 5.63% | 3.77% | 8.94% | 9.37% | 0.4% | 8.81% | 12.5% | 13.9% |
| Price to Book | 1.11 x | 1.53 x | 1.55 x | 1.32 x | 1.24 x | 1.18 x | 1.15 x | 1.16 x |
| Nbr of stocks (in thousands) | 1,500,000 | 1,500,000 | 1,500,000 | 1,500,000 | 1,500,000 | 1,500,000 | - | - |
| Reference price 2 | 11.10 | 14.30 | 17.02 | 13.66 | 10.96 | 9.540 | 9.540 | 9.540 |
| Announcement Date | 1/30/20 | 1/31/21 | 2/3/22 | 3/1/23 | 2/25/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 9,536 | 8,007 | 12,656 | 11,157 | 8,171 | 9,552 | 10,342 | 10,763 |
| EBITDA 1 | 2,663 | 2,144 | 5,210 | 1,493 | 969.4 | 1,641 | 3,093 | 3,204 |
| EBIT 1 | 379 | -192.6 | 2,826 | -857.3 | -1,446 | -676.3 | 873.4 | 1,091 |
| Operating Margin | 3.97% | -2.41% | 22.33% | -7.68% | -17.7% | -7.08% | 8.45% | 10.14% |
| Earnings before Tax (EBT) 1 | -538.5 | -538.5 | 2,517 | -1,218 | -2,130 | -777.5 | 655.3 | 848.7 |
| Net income 1 | -636.8 | -784.7 | 2,393 | -1,244 | -2,136 | -1,102 | 529.4 | 808.6 |
| Net margin | -6.68% | -9.8% | 18.91% | -11.15% | -26.15% | -11.53% | 5.12% | 7.51% |
| EPS 2 | -0.4200 | -0.5200 | 1.600 | -0.8300 | -1.420 | -0.7297 | 0.2784 | 0.4663 |
| Free Cash Flow 1 | 1,895 | 1,400 | 3,395 | 2,826 | 103.5 | 2,062 | 2,766 | 2,849 |
| FCF margin | 19.87% | 17.49% | 26.82% | 25.33% | 1.27% | 21.58% | 26.75% | 26.47% |
| FCF Conversion (EBITDA) | 71.14% | 65.31% | 65.16% | 189.25% | 10.67% | 125.61% | 89.43% | 88.93% |
| FCF Conversion (Net income) | - | - | 141.87% | - | - | - | 522.45% | 352.35% |
| Dividend per Share 2 | - | - | - | - | - | - | 0.2500 | 0.3800 |
| Announcement Date | 1/30/20 | 1/31/21 | 2/3/22 | 3/1/23 | 2/25/24 | - | - | - |
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 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,434 | 3,565 | 3,138 | 3,407 | 2,596 | 2,016 | 1,682 | 2,209 | 2,137 | 2,142 | 1,976 | 2,217 | 2,224 | 2,883 |
| EBITDA 1 | 1,366 | 1,185 | 879.5 | 834.5 | -81.88 | -138.9 | 72.71 | 640.4 | 396.4 | 129.8 | 137.1 | -387.3 | -387.3 | 2,518 |
| EBIT 1 | 782.8 | 543.2 | 304.3 | 246.2 | -675.6 | -732.3 | -494.6 | -262.9 | -266 | -445.1 | -393.4 | -553.2 | -543.7 | 945.4 |
| Operating Margin | 22.8% | 15.24% | 9.7% | 7.23% | -26.02% | -36.32% | -29.4% | -11.9% | -12.44% | -20.78% | -19.91% | -24.95% | -24.45% | 32.79% |
| Earnings before Tax (EBT) 1 | - | - | - | - | - | - | - | - | - | -624.7 | -238.9 | -216.7 | -197.7 | -124.3 |
| Net income 1 | 667.4 | 452.6 | 209.4 | 150.1 | -812.3 | -791.1 | -673.3 | -392.1 | -449 | -622.1 | -571.9 | -366.1 | -357.5 | 252.4 |
| Net margin | 19.44% | 12.69% | 6.67% | 4.41% | -31.29% | -39.24% | -40.02% | -17.75% | -21.01% | -29.05% | -28.95% | -16.51% | -16.07% | 8.75% |
| EPS 2 | 0.4400 | 0.3000 | 0.1400 | 0.1000 | -0.5400 | -0.5300 | -0.4500 | -0.2600 | -0.3000 | -0.4100 | -0.3800 | -0.2438 | -0.2383 | 0.1682 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/28/21 | 2/3/22 | 5/8/22 | 8/2/22 | 10/24/22 | 3/1/23 | 5/9/23 | 8/2/23 | 10/23/23 | 2/25/24 | 4/29/24 | - | - | - |
1SAR in Million2SAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 17,022 | 15,678 | 12,459 | 9,657 | 9,616 | 9,098 | 7,864 | 6,118 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.391 x | 7.311 x | 2.391 x | 6.467 x | 9.919 x | 5.544 x | 2.543 x | 1.91 x |
| Free Cash Flow 1 | 1,895 | 1,400 | 3,395 | 2,826 | 103 | 2,062 | 2,766 | 2,849 |
| ROE (net income / shareholders' equity) | -4.16% | -5.42% | 15.7% | -7.79% | -14.9% | -8.59% | 3.78% | 4.53% |
| ROA (Net income/ Total Assets) | -1.66% | -2.29% | 7.21% | -4.07% | -7.78% | -6.92% | 2.95% | 0.38% |
| Assets 1 | 38,453 | 34,337 | 33,180 | 30,585 | 27,477 | 15,911 | 17,947 | 212,784 |
| Book Value Per Share 2 | 9.970 | 9.340 | 11.00 | 10.30 | 8.860 | 8.050 | 8.320 | 8.240 |
| Cash Flow per Share 2 | 1.470 | 1.160 | 2.550 | 2.120 | 0.5900 | 1.110 | 1.600 | 1.920 |
| Capex 1 | 304 | 338 | 423 | 354 | 781 | 533 | 605 | 686 |
| Capex / Sales | 3.19% | 4.22% | 3.34% | 3.18% | 9.56% | 5.58% | 5.85% | 6.38% |
| Announcement Date | 1/30/20 | 1/31/21 | 2/3/22 | 3/1/23 | 2/25/24 | - | - | - |
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
10
Last Close Price
9.54
SAR
Average target price
10.28
SAR
Spread / Average Target
+7.73%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -12.96% | 3.66B | |
| +4.70% | 103B | |
| +2.40% | 65.6B | |
| +42.86% | 39.06B | |
| +16.96% | 37.58B | |
| +6.96% | 33.26B | |
| +7.89% | 19.22B | |
| +12.12% | 16.83B | |
| +12.08% | 15.03B | |
| +17.69% | 14.96B |
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