Financials Al Rajhi Company for Cooperative Insurance

Equities

8230

SA12A0540J14

Multiline Insurance & Brokers

End-of-day quote Saudi Arabian S.E. 06:00:00 2024-04-24 pm EDT 5-day change 1st Jan Change
136 SAR -1.45% Intraday chart for Al Rajhi Company for Cooperative Insurance +30.27% +91.55%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,676 2,540 3,236 3,108 3,580 7,100
Enterprise Value (EV) 1 2,198 2,140 2,426 2,704 3,072 6,236
P/E ratio 14.5 x 29.5 x 14.3 x 31.6 x 39.9 x 21.6 x
Yield - - - - - -
Capitalization / Revenue 0.9 x 0.93 x 1.33 x 1.3 x 1.38 x 1.93 x
EV / Revenue 0.74 x 0.79 x 1 x 1.13 x 1.18 x 1.7 x
EV / EBITDA 11.5 x 19 x 9.42 x 21.6 x 25.5 x 12.2 x
EV / FCF 31.9 x 53.4 x -10.7 x 29 x 6.63 x -4.85 x
FCF Yield 3.14% 1.87% -9.38% 3.45% 15.1% -20.6%
Price to Book 3.48 x 2.9 x 2.91 x 2.45 x 2.78 x 4.12 x
Nbr of stocks (in thousands) 100,000 100,000 100,000 100,000 100,000 100,000
Reference price 2 26.76 25.40 32.36 31.08 35.80 71.00
Announcement Date 3/28/19 3/24/20 3/11/21 3/13/22 3/12/23 3/7/24
1SAR in Million2SAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,969 2,717 2,438 2,387 2,592 3,679
EBITDA 1 191.7 112.4 257.5 124.9 120.7 509.9
EBIT 1 185 108.9 251.8 115.4 99.87 483.6
Operating Margin 6.23% 4.01% 10.33% 4.83% 3.85% 13.15%
Earnings before Tax (EBT) 1 185 108.9 251.8 115.4 99.87 337.5
Net income 1 185 86.18 227 98.47 89.62 328.1
Net margin 6.23% 3.17% 9.31% 4.13% 3.46% 8.92%
EPS 2 1.850 0.8618 2.270 0.9847 0.8962 3.281
Free Cash Flow 1 69.01 40.04 -227.7 93.27 463.4 -1,285
FCF margin 2.32% 1.47% -9.34% 3.91% 17.88% -34.93%
FCF Conversion (EBITDA) 36.01% 35.62% - 74.65% 383.94% -
FCF Conversion (Net income) 37.3% 46.46% - 94.72% 517.09% -
Dividend per Share - - - - - -
Announcement Date 3/28/19 3/24/20 3/11/21 3/13/22 3/12/23 3/7/24
1SAR in Million2SAR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 478 400 810 404 508 864
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 69 40 -228 93.3 463 -1,285
ROE (net income / shareholders' equity) 27.1% 10.5% 22.8% 8.27% 7.01% 21.5%
ROA (Net income/ Total Assets) 3.4% 1.86% 3.95% 1.6% 1.24% 5.42%
Assets 1 5,447 4,639 5,743 6,146 7,228 6,054
Book Value Per Share 2 7.680 8.750 11.10 12.70 12.90 17.20
Cash Flow per Share 2 4.780 4.590 8.530 4.590 5.570 9.050
Capex 1 6.13 12.1 47.1 30.5 22.8 44.9
Capex / Sales 0.21% 0.45% 1.93% 1.28% 0.88% 1.22%
Announcement Date 3/28/19 3/24/20 3/11/21 3/13/22 3/12/23 3/7/24
1SAR in Million2SAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
1
Last Close Price
136 SAR
Average target price
39 SAR
Spread / Average Target
-71.32%
Consensus
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