SAUDI TADAWUL GROUP HOLDING COMPANY Financials Saudi Tadawul Group Holding Company
Equities
1111
SA15DHKGHBH4
Financial & Commodity Market Operators
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End-of-day quote
Other stock markets
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5-day change | 1st Jan Change | ||
| 261.2 SAR | +0.77% |
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+0.23% | +39.83% |
| Mar. 11 | Saudi Tadawul Group Holding Company Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Mar. 10 | Saudi Tadawul Group Holding Logs Lower FY23 Net Profit, Revenue | MT |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 15,096 | 21,720 | 22,416 | 31,344 | - | - |
| Enterprise Value (EV) 1 | 12,361 | 21,101 | 20,579 | 29,055 | 28,831 | 28,592 |
| P/E ratio | 25.7 x | 51.1 x | 57.5 x | 47.7 x | 42.1 x | 37.3 x |
| Yield | 2.38% | 1.28% | 1.23% | 1.4% | 1.6% | 1.8% |
| Capitalization / Revenue | 12.9 x | 20.3 x | 20.9 x | 20.7 x | 18.7 x | 17.1 x |
| EV / Revenue | 10.6 x | 19.7 x | 19.2 x | 19.2 x | 17.2 x | 15.6 x |
| EV / EBITDA | 18.5 x | 43 x | 51 x | 41.6 x | 35.7 x | 30.9 x |
| EV / FCF | 22.6 x | 56.8 x | - | 53.3 x | 47.3 x | 43.7 x |
| FCF Yield | 4.43% | 1.76% | - | 1.88% | 2.11% | 2.29% |
| Price to Book | 4.88 x | 6.83 x | 7.16 x | 9.16 x | 8.46 x | 7.8 x |
| Nbr of stocks (in thousands) | 120,000 | 120,000 | 120,000 | 120,000 | - | - |
| Reference price 2 | 125.8 | 181.0 | 186.8 | 261.2 | 261.2 | 261.2 |
| Announcement Date | 3/10/22 | 2/26/23 | 3/10/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 1,166 | 1,071 | 1,073 | 1,517 | 1,674 | 1,833 |
| EBITDA 1 | - | 668.9 | 490.3 | 403.1 | 697.7 | 807.8 | 924 |
| EBIT 1 | - | 611.8 | 427.1 | 328.3 | 601 | 699 | 747.6 |
| Operating Margin | - | 52.47% | 39.86% | 30.61% | 39.61% | 41.75% | 40.78% |
| Earnings before Tax (EBT) 1 | - | 653.9 | 492.3 | 437 | 738.5 | 843.3 | 920.3 |
| Net income 1 | 500.5 | 587.7 | 424.6 | 390.1 | 659 | 725.5 | 788.8 |
| Net margin | - | 50.4% | 39.63% | 36.36% | 43.44% | 43.33% | 43.02% |
| EPS 2 | 4.170 | 4.900 | 3.540 | 3.250 | 5.475 | 6.205 | 6.994 |
| Free Cash Flow 1 | - | 548.1 | 371.3 | - | 545 | 609 | 655 |
| FCF margin | - | 47% | 34.66% | - | 35.92% | 36.38% | 35.73% |
| FCF Conversion (EBITDA) | - | 81.94% | 75.73% | - | 78.12% | 75.39% | 70.89% |
| FCF Conversion (Net income) | - | 93.26% | 87.45% | - | 82.7% | 83.95% | 83.04% |
| Dividend per Share 2 | - | 3.000 | 2.310 | 2.300 | 3.655 | 4.182 | 4.709 |
| Announcement Date | 11/28/21 | 3/10/22 | 2/26/23 | 3/10/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 | 257.5 | 222.9 | 298.1 | 257.2 | 222.2 | 182.4 | 252 | 277.4 | 332.1 | 396 | 355.8 | 388.3 | 397.6 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 110.9 | 164 | 137.6 | 91.73 | 43.09 | 51.27 | - | 76.65 | - | 195 | - | - | - |
| Operating Margin | 43.04% | 73.58% | 46.14% | 35.67% | 19.39% | 28.1% | - | 27.63% | - | 49.24% | - | - | - |
| Earnings before Tax (EBT) | 124.5 | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 110.5 | 140.6 | 137.7 | 89.12 | 57.18 | 90.78 | - | 102.3 | 91.77 | 156 | - | - | - |
| Net margin | 42.89% | 63.09% | 46.18% | 34.65% | 25.73% | 49.76% | - | 36.88% | 27.63% | 39.4% | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/10/22 | 5/15/22 | 8/14/22 | 10/30/22 | 2/26/23 | 4/16/23 | 7/23/23 | 10/22/23 | 3/10/24 | - | - | - | - |
1SAR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - |
| Net Cash position 1 | - | 2,735 | 619 | 1,837 | 2,289 | 2,513 | 2,752 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | 548 | 371 | - | 545 | 609 | 655 |
| ROE (net income / shareholders' equity) | - | 17.5% | 13.5% | 12.4% | 20% | 20.6% | 21.5% |
| ROA (Net income/ Total Assets) | - | 15.4% | 7.56% | 5.09% | 8.04% | 8.69% | 8.62% |
| Assets 1 | - | 3,818 | 5,617 | 7,663 | 8,195 | 8,345 | 9,152 |
| Book Value Per Share 2 | - | 25.80 | 26.50 | 26.10 | 28.50 | 30.90 | 33.50 |
| Cash Flow per Share 2 | - | - | 3.920 | 3.290 | 5.190 | 6.940 | 9.070 |
| Capex 1 | - | - | 99.1 | - | 88 | 86.5 | 84.5 |
| Capex / Sales | - | - | 9.25% | - | 5.8% | 5.17% | 4.61% |
| Announcement Date | 11/28/21 | 3/10/22 | 2/26/23 | 3/10/24 | - | - | - |
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
C+
Sell
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
7
Last Close Price
261.2
SAR
Average target price
217.2
SAR
Spread / Average Target
-16.83%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +39.83% | 8.36B | |
| +0.16% | 75.94B | |
| +12.06% | 21.7B | |
| +27.19% | 12.54B | |
| -0.13% | 7.96B | |
| -2.16% | 2.96B | |
| +30.25% | 2.55B | |
| -5.45% | 1.69B | |
| +15.14% | 1.29B | |
| +74.10% | 1.28B |
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