Taiba Q3 2024: Analyst forecasts & insights

06/11/2024 Argaam Exclusive
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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.

Quarter Revenue Changes (M Riyal)

Item Q3
2023
Q4
2023
Q1
2024
Q2
2024
Q3
2024
(Average Estimate)
Sales 118.44 175.89 332.07 377.40 381.00
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

Quarter Net Income Changes (M Riyal)

Item Q3
2023
Q4
2023
Q1
2024
Q2
2024
Q3
2024
(Average Estimate)
Net Income 53.89 (34.31) 110.50 87.50 91.50
Extraordinary income/expense (10.71) (104.16) 0.00 0.00 -
Net Profit Before Unusual Items 64.59 69.85 110.50 87.50 -
EPS Before Unusual Items (Riyal/Share) 0.38 0.41 0.42 0.34 0.35

Quarterly Profit and Revenue (M Riyal)

JavaScript chart by amCharts 3.21.1291.587.5110.5-34.3153.89Q3-2024-EstimatedQ2-2024Q1-2024Q4-2023Q3-2023-50050100150

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.

Quarterly Actuals vs Estimates (M Riyal)

Average Estimate (M Riyal)

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:

P/E (TTM)

JavaScript chart by amCharts 3.21.12Dec2024FebMarAprMayJunJulAugSepOctNov20406080HighHigh
JavaScript chart by amCharts 3.21.12Market PE Company PE

Stock Performance

Item The Company TASI
YTD 20.44 % 0.47 %
Change(12M) 25.16 % 10.45 %
Previous Close 43.20 12,093.35
P/E adjusted (x) 33.58 24.91
EPS (TTM) before unusual items (SAR/Share) 1.56 -

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48.60
(0.90) (1.82 %)

Valuation Data (Latest Share Price)

P/E (TTM) 37.12
P/E Before Unusual Items (TTM) 37.12
P/BV 1.88
Dividend Yield 1.82 %
Market Cap. (M) 12,892.77
Return on Average Assets 3.64 %
Return on Average Equity 4.24 %
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