AI Summary
Saudi-listed companies, either loss-making, or insolvent, reported strong performance, as well as robust turnover in 2020, driven by cash inflows by retail investors during Saudi Aramco’s initial public offering (IPO) in 2019. The Saudi market further received inflows in the wake of the lockdown period due to COVID-19 outbreak. Hence, market turnover surged by more than 200% year-on-year (YoY) in 2020.
The cash inflows were mainly injected in the small companies through fierce speculations, regardless of their financial figures.
Though a company’s decision to reduce and then increase capital through a rights issue implicitly indicates it is in default, still these companies reported strong performance last year.
Anaam International Holding Group reported a record market value, which is 100 times higher than the last 12-month revenue.
Al-Baha Investment and Development Co.’s market value came 63 times higher than the 12-month revenue, while Tourism Enterprise Co.’s (Shams) market value was 44 times higher.
A total of 158 stocks reported hikes in 2020, including 67 which increased by more than 50%.
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Top 30 listed companies that saw rises in 2020 |
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|
Company |
Closing Price* |
Increase |
P/E** |
Notes |
|
Saudi Paper |
64.60 |
+ 382 % |
High |
The company reported losses for five years in a row (2015-2019). The company then cut capital twice to offset accumulated losses. |
|
Wafrah |
154.00 |
+ 331 % |
Negative |
The company reported losses for five years in a row (2015-2019), and then cut capital in 2020 to offset accumulated losses. The stock trades 15 times the book value. |
|
Anaam |
92.00 |
+ 237 % |
Negative |
The company reported losses for six years in a row and then it cut capital to offset accumulated losses. The stock trades 115 times the last 12-month revene. |
|
Amana |
37.15 |
+ 208 % |
Negative |
The company reported losses for eight years. The stock trades 6 times the book value. |
|
Abo Moati |
53.50 |
+ 179 % |
High |
The company has been reporting earnings decline since debut. Profit, for the first six months (September) of 2020 dropped by 82% |
|
Al Moammar |
96.20 |
+ 171 % |
19.1 |
|
|
Halwani |
89.40 |
+ 155 % |
31.5 |
The company trades at a P/E, which is 31 times of the 12-month earnings |
|
National Building |
46.00 |
+ 151 % |
31.0 |
The company trades at a P/E, which is 31 times of the 12-month earnings |
|
Shams |
55.00 |
+ 143 % |
Negative |
The company reported losses in the last 5 quarters. The stock trades at 44 times of the last 12-month revenue |
|
Malath |
24.08 |
+ 139 % |
High |
The company’s profit dropped 79% year-on-year (YoY) over the nine-months of 2020 |
|
Tihama |
51.80 |
+ 137 % |
Negative |
The company reported losses in the last 4 quarters. The stock trades at 8 times the book value |
|
ACIG |
62.80 |
+ 135 % |
High |
The stock trades at 6 times of the book value |
|
SARCO |
105.20 |
+ 135 % |
High |
The stock trades at 3.5 times the market value of company’s investments |
|
Saudi Fisheries |
54.90 |
+ 135 % |
Negative |
The company sustained losses for 17 straight years, cut capital and launched rights issue to offset accumulated losses |
|
Al-Baha |
39.10 |
+ 127 % |
Negative |
The stock trades 63 times the last 12-month revenue |
|
Maadaniyah |
33.60 |
+ 120 % |
Negative |
The company reported losses over the last 7 quarters |
|
Baazeem Trading |
90.20 |
+ 111 % |
35.8 |
The stock trades at a P/E of 35 times the last 12-month profit |
|
FIPCO |
59.90 |
+ 107 % |
Negative |
The company reported losses in 7 out of the last 8 quarters |
|
Salama |
24.76 |
+ 106 % |
High |
The stock trades at a P/E of more than 50 times the last 12-month earnings |
|
National Gypsum |
27.95 |
+ 106 % |
21.3 |
|
|
Gulf General |
24.86 |
+ 102 % |
High |
The stock trades at a P/E of more than 50 times the last 12-month profit |
|
Farm Superstores |
32.10 |
+ 101 % |
36.8 |
The stock trades at P/E of 37 times of the last 12-month profit |
|
Naseej |
99.00 |
+ 100 % |
Negative |
The company sustained losses over the last 6 years, cut capital and launched rights issue twice. The stock trades 10 times the book value |
|
Alinma Tokio Marine |
24.38 |
+ 95 % |
Negative |
The company has been suffering losses since debut (7 years) |
|
Saudi Printing |
24.60 |
+ 90 % |
Negative |
The company sustained losses over the last 4 years (2016-2019) |
|
UCA |
17.10 |
+ 88 % |
Negative |
The company posted losses over the 4 quarters of 2020 |
|
Saudi Ceramic |
99.00 |
+ 88 % |
High |
The stock trades at a P/E of 100 times of the last 12-month profit |
|
Raydan |
33.00 |
+ 88 % |
Negative |
The company turned to losses in the last 4 quarters |
|
Tabuk Agricultural |
32.40 |
+ 87 % |
Negative |
The company sustained losses in the last 4 years |
|
SABB Takaful |
30.65 |
+ 86 % |
Negative |
The company sustained losses in the last 6 quarters |
*Closing prices of Dec. 31, 2020, 
**P/E for last 12 months,
***Excluding companies listed during 2020 and firms that moved from Nomu Parallel Market to Main Market
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