AI Summary
In this report, Argaam highlights the expected results of Taiba Investments Co. for the third quarter of 2024, its key events, quarterly profit and sales, and performance indicators.
The third-quarter revenue is forecast to leap 221.69% year-on-year (YoY) to SAR 381 million.
| Item | Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Sales | 118.44 | 175.90 | 332.07 | 377.40 | 381.00 |
| Change % | 30.33% | 69.23% | 199.27% | 187.83% | 221.69% |
| Income from Affiliate | 2.04 | 0.89 | 0.00 | (6.94) | NA |
| Change % | 121.26% | NA | NA | NA | NA |
| Item | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 53.89 | (34.35) | 96.13 | 88.44 | 91.50 |
| Extraordinary income/expense | (10.71) | (108.97) | 0.00 | 0.00 | - |
| Net Profit Before Unusual Items | 64.59 | 74.62 | 96.13 | 88.44 | - |
| EPS Before Unusual Items (Riyal/Share) | 0.35 | 0.40 | 0.37 | 0.34 | 0.35 |
Average estimates
Taiba’s Q3 2024 net profit is projected to reach SAR 91.5 million, a 41.7% increase from Q3 2023, according to average estimates by one research house.
| Analyst | Million Riyals |
|---|---|
| SNB Capital Company | 91.50 |
| Average | 91.50 |
| Net Profit Before Unusual Items (2023 - Q3) | 64.59 |
| Change % | 41.65% |
Performance and Profitability Indicators
The following table illustrates the stock performance, P/E and earnings per share trailing 12 months (TTM) and year to date:
| Item | The Company | TASI |
|---|---|---|
| YTD | (16.79 %) | 0.47 % |
| Change(12M) | (14.07 %) | 10.45 % |
| Previous Close | 43.20 | 12,093.35 |
| Recurring P/E (x) | 35.33 | 25.50 |
| EPS (TTM) before unusual items (SAR/Share) | 1.46 | - |
| P/E (TTM) | 22.90 |
| P/E Before Unusual Items (TTM) | 30.24 |
| P/BV | 1.30 |
| Dividend Yield | 1.82 % |
| Market Cap. (M) | 8,907.74 |
| Return on Average Assets | 3.95 % |
| Return on Average Equity | 5.73 % |
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