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Analyst view on Taiba’s Q2 2024 financials
AI Summary
Content Summary: 
In this report, Argaam highlights the expected results of Taiba Investments Co. in Q2 2024, in addition to the company’s key events, quarterly profit, as well as performance and profitability indicators.
The company’s second-quarter revenue is likely to surge by 147.87% year-on-year (YoY) to SAR 325 million.
Quarter Revenue Changes (M Riyal)
| Item | Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Sales | 131.12 | 118.44 | 175.90 | 332.07 | 325.00 |
| Change % | 61.53% | 30.33% | 69.23% | 199.27% | 147.87% |
| Income from Affiliate | (2.43) | 2.04 | 0.89 | 0.00 | NA |
| Change % | NA | 121.26% | NA | NA | NA |
Quarter Net Income Changes (M Riyal)
| Item | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 27.56 | 53.89 | (33.71) | 110.50 | 104.00 |
| Extraordinary income/expense | (24.90) | (10.71) | (104.16) | 0.00 | - |
| Net Profit Before Unusual Items | 52.47 | 64.59 | 70.44 | 110.50 | - |
| EPS Before Unusual Items (Riyal/Share) | 0.28 | 0.35 | 0.38 | 0.42 | 0.40 |
Key events in Q1 2024
- The company’s general assembly approved a cash dividend of SAR 0.65 per share, or 6.5% of capital, for 2023.
- Shareholders authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2024.
Quarterly Profit and Revenue (M Riyal)
Average estimates
Taiba is forecast to report a net profit of SAR 104 million in Q2 2024, a 98% leap from a year ago, according to an estimate by one research firm.
Quarterly Actuals vs Estimates (M Riyal)
Average Estimate (M Riyal)
| Analyst | Million Riyals |
|---|---|
| SNB Capital Company | 104.00 |
| Average | 104.00 |
| Net Profit Before Unusual Items (2023 - Q2) | 52.47 |
| Change % | 98.22% |
Performance and profitability indicators
The following table shows the stock performance, P/E ratio, and the earnings per share trailing 12 months (TTM) and year to date (YTD):
Stock Performance
| Item | The Company | TASI |
|---|---|---|
| YTD | 20.80 % | 0.60 % |
| Change(12M) | 38.49 % | 3.57 % |
| Previous Close | 47.90 | 12,109.52 |
| P/E adjusted (x) | 41.87 | 26.45 |
| EPS (TTM) before unusual items (SAR/Share) | 1.44 | - |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 57.85 |
| P/E Before Unusual Items (TTM) | 39.46 |
| P/BV | 1.93 |
| Dividend Yield | 2.43 % |
| Market Cap. (M) | 12,931.84 |
| Return on Average Assets | 3.09 % |
| Return on Average Equity | 4.20 % |
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