NADEC closes at all-time high

18/02/2024 Argaam Exclusive

Shares of National Agricultural Development Co. (NADEC) rose 10% today, Feb. 18, to close at the highest price since listing at SAR 35.30 per share.

 

Nearly 5.4 million shares changed hands at a total value of SAR 187 million.

Year High (SAR) Year Low (SAR)
35.30 11.34
Highest Since Debut (SAR) Lowest Since Debut (SAR)
35.30 1.40
Chart

Accordingly, the stock’s full-year gains exceeded 180%.

Market Data :

Open 20.82
Low 20.76
High 21.00
Previous Close 20.82
Change (3M) 1.36 %
Change (6M) (6.38 %)
Market Value 6,286.18
Avg. Volume (3M) 589,341.33
Avg. Turnover (3M) 12,598,200.83
Avg. Transaction (3M) 1,689.81
Change(12M) (21.36 %)
YTD (15.56 %)
Overview

The company amended its capital several times through bonus share distributions and rights issues, as follows:

Adjustments to the capital (M Riyal) :

Date Type Capital (M Riyal) Change (%)
2023 Right Issue   3,016.40 196.77%
2020 Split   1,016.40 20.00%
2017 Private Offering   Cancelled 1,382.86 63.27%
2016 Split   847.00 10.00%
2015 Split   770.00 10.00%
2014 Split   700.00 16.67%
2008 Split   600.00 50.00%
Company Action

NADEC’s profits rose to SAR 302.1 million by the end of 2023, compared to SAR 95.5 million in 2022. Q4 2023 profits amounted to about SAR 124 million.

Financial Performance :

Financial Statements

Overview :

The company was established in 1981 with an initial capital of SAR 400 million. In 1984, it opened its first fresh milk and dairy products plant. Two years later, packaging operations for milk and dairy items commenced. The organization was transitioned into a public joint-stock company in 1993 and subsequently established its largest dairy farm in 2015. The company’s core activities include agricultural and livestock production, agricultural land reclamation, food processing, and the mar...
Profile


Financial Ratios :

Financial Ratio Current
Market Cap (M Riyal) 6,286.18
Shares Outstanding ((M)) 301.64
EPS ( Riyal) (TTM) 2.58
Book Value (BV) ( Riyal) (Latest announcement) 15.13
Recurring P/E 15.07
Price/book 1.38
Dividend Yield (%) (Last Year) 0.00
Return on Average Assets (%) (TTM) 12.99
Return on Average Equity (%) (TTM) 18.33
Par Value ( Riyal) 10.00
Enterprise Value (EV) (M Riyal) 4,695.33
EV/adj EBITDA -
EV/Revenues 1.35
Ratios


Analyst Estimates :

34.3

Fair Average Price

1

Number of Recommendations

Rating Research firm Current Price Target Price Change
Buy United Securities Company 29.95 34.30 14.52 %
Estimates

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