Stock 8050 SALAMA COOPERATIVE INSURANCE COMPANY
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Financials Salama Cooperative Insurance Company

Equities

8050

SA000A0MLUE6

Property & Casualty Insurance

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
34.6 SAR -2.40% Intraday chart for Salama Cooperative Insurance Company -1.00% +78.35%
Mar. 26 Salama Cooperative Insurance Company Reports Earnings Results for the Full Year Ended December 31, 2023 CI
Mar. 21 Salama Cooperative Insurance Taps Alawwal Capital as Financial Adviser for Rights Issue MT

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 393 300 619 425 129.6 388
Enterprise Value (EV) 1 306.1 295.3 479.7 321.3 13.33 -7.314
P/E ratio 24 x -4.99 x 167 x -3.78 x -2.22 x 5.97 x
Yield - - - - - -
Capitalization / Revenue 0.52 x 0.57 x 1.51 x 1.01 x 0.23 x 0.47 x
EV / Revenue 0.41 x 0.56 x 1.17 x 0.77 x 0.02 x -0.01 x
EV / EBITDA 15.7 x -6.02 x 32.6 x -3.12 x -0.25 x -0.13 x
EV / FCF 6.7 x -9.19 x 3.87 x 4.87 x 0.28 x -0.04 x
FCF Yield 14.9% -10.9% 25.8% 20.5% 356% -2,514%
Price to Book 1.49 x 1.49 x 3 x 4.4 x 3.3 x 1.89 x
Nbr of stocks (in thousands) 10,000 10,000 10,000 10,000 10,000 20,000
Reference price 2 39.30 30.00 61.90 42.50 12.96 19.40
Announcement Date 4/3/19 4/2/20 4/11/21 4/3/22 3/21/23 3/26/24
1SAR in Million2SAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 751.1 525.5 411.1 419.8 566.4 829.2
EBITDA 1 19.49 -49.07 14.73 -102.9 -52.64 57.61
EBIT 1 16.34 -54.12 9.702 -106.4 -55.33 55.3
Operating Margin 2.18% -10.3% 2.36% -25.35% -9.77% 6.67%
Earnings before Tax (EBT) 1 16.34 -54.12 9.702 -106.4 -55.33 55.3
Net income 1 16.34 -60.12 3.702 -112.4 -58.33 51.3
Net margin 2.18% -11.44% 0.9% -26.78% -10.3% 6.19%
EPS 2 1.634 -6.012 0.3702 -11.24 -5.833 3.250
Free Cash Flow 1 45.67 -32.13 124 66.02 47.41 183.9
FCF margin 6.08% -6.11% 30.16% 15.73% 8.37% 22.17%
FCF Conversion (EBITDA) 234.31% - 841.4% - - 319.18%
FCF Conversion (Net income) 279.44% - 3,348.53% - - 358.41%
Dividend per Share - - - - - -
Announcement Date 4/3/19 4/2/20 4/11/21 4/3/22 3/21/23 3/26/24
1SAR in Million2SAR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 86.9 4.71 139 104 116 395
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 45.7 -32.1 124 66 47.4 184
ROE (net income / shareholders' equity) 6.33% -25.8% 1.81% -73.7% -85.9% 38.6%
ROA (Net income/ Total Assets) 1.17% -4.15% 0.83% -10% -5.01% 4.69%
Assets 1 1,400 1,448 446 1,121 1,164 1,093
Book Value Per Share 2 26.40 20.20 20.60 9.650 3.930 10.20
Cash Flow per Share 2 8.690 2.840 15.90 12.40 13.50 20.80
Capex 1 12.7 2.63 0.14 0.5 3.73 2.28
Capex / Sales 1.69% 0.5% 0.03% 0.12% 0.66% 0.27%
Announcement Date 4/3/19 4/2/20 4/11/21 4/3/22 3/21/23 3/26/24
1SAR in Million2SAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Insurance - Automobile

1st Jan change Capi.
SALAMA COOPERATIVE INSURANCE COMPANY Stock Salama Cooperative Insurance Company
+78.35% 185M
PROGRESSIVE CORPORATION Stock Progressive Corporation
+30.61% 122B
PICC PROPERTY AND CASUALTY COMPANY LIMITED Stock PICC Property and Casualty Company Limited
+8.19% 28.53B
TRYG A/S Stock Tryg A/S
-5.99% 12.17B
ADMIRAL GROUP PLC Stock Admiral Group plc
+0.56% 10.1B
QUÁLITAS CONTROLADORA, S.A.B. DE C.V. Stock Quálitas Controladora, S.A.B. de C.V.
+28.58% 5.09B
MERCURY GENERAL CORPORATION Stock Mercury General Corporation
+38.46% 2.86B
HAGERTY, INC. Stock Hagerty, Inc.
+14.36% 750M
ROADZEN, INC. Stock Roadzen, Inc.
-4.91% 331M
THE FIRST INSURANCE CO., LTD. Stock The First Insurance Co., Ltd.
+11.32% 196M
Insurance - Automobile
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