Financials The Securities House K.S.C.P.

Equities

SECH

KW0EQ0200307

Diversified Investment Services

End-of-day quote Kuwait S.E. 06:00:00 2024-05-01 pm EDT 5-day change 1st Jan Change
0.0538 KWD +2.09% Intraday chart for The Securities House K.S.C.P. +5.70% -0.37%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 23.85 20.47 23.64 45.32 29.15 21.33
Enterprise Value (EV) 1 12.55 11.47 14.82 33.77 22.59 16.71
P/E ratio 131 x -54 x -2.89 x 11.6 x 13.2 x 39.6 x
Yield - - - - - -
Capitalization / Revenue 50.3 x 3.1 x 6.55 x 5.05 x 3.85 x 4.2 x
EV / Revenue 26.4 x 1.74 x 4.1 x 3.76 x 2.99 x 3.29 x
EV / EBITDA -23.6 x 11.9 x -105 x 9.07 x 8.93 x -32.2 x
EV / FCF 36.9 x 25.1 x -67.7 x 11.3 x -7.39 x 11.5 x
FCF Yield 2.71% 3.98% -1.48% 8.87% -13.5% 8.69%
Price to Book 0.59 x 0.5 x 0.56 x 1 x 0.74 x 0.54 x
Nbr of stocks (in thousands) 364,866 364,866 450,001 450,000 410,000 395,000
Reference price 2 0.0654 0.0561 0.0525 0.1007 0.0711 0.0540
Announcement Date 3/25/19 4/1/20 4/1/21 3/31/22 4/2/23 3/31/24
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 0.4746 6.596 3.611 8.971 7.564 5.077
EBITDA 1 -0.5316 0.9649 -0.1408 3.723 2.531 -0.5187
EBIT 1 -0.5736 0.4729 -0.5581 3.311 2.118 -0.9996
Operating Margin -120.87% 7.17% -15.46% 36.9% 28.01% -19.69%
Earnings before Tax (EBT) 1 0.2042 -0.156 -8.271 3.856 2.02 -1.018
Net income 1 0.2048 -0.3796 -7.793 3.913 2.348 0.5521
Net margin 43.16% -5.76% -215.84% 43.62% 31.05% 10.87%
EPS 2 0.000500 -0.001040 -0.0182 0.008696 0.005390 0.001365
Free Cash Flow 1 0.3404 0.4571 -0.219 2.994 -3.059 1.453
FCF margin 71.73% 6.93% -6.06% 33.37% -40.44% 28.62%
FCF Conversion (EBITDA) - 47.38% - 80.41% - -
FCF Conversion (Net income) 166.21% - - 76.5% - 263.16%
Dividend per Share - - - - - -
Announcement Date 3/25/19 4/1/20 4/1/21 3/31/22 4/2/23 3/31/24
1KWD in Million2KWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 11.3 9 8.82 11.5 6.56 4.62
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 0.34 0.46 -0.22 2.99 -3.06 1.45
ROE (net income / shareholders' equity) 0.43% -0.31% -17.9% 8.83% 4.74% -2.57%
ROA (Net income/ Total Assets) -0.7% 0.53% -0.68% 4.22% 2.6% -1.25%
Assets 1 -29.13 -72.09 1,153 92.78 90.2 -44.34
Book Value Per Share 2 0.1100 0.1100 0.0900 0.1000 0.1000 0.1000
Cash Flow per Share 2 0.0200 0.0100 0.0100 0.0200 0.0100 0.0100
Capex - 0.26 0.02 0.36 0.06 0.22
Capex / Sales - 3.94% 0.6% 4.05% 0.86% 4.42%
Announcement Date 3/25/19 4/1/20 4/1/21 3/31/22 4/2/23 3/31/24
1KWD in Million2KWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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