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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 | 175.90 | 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 |
Quarter Net Income Changes (M Riyal)
| Item | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 53.89 | (33.71) | 110.50 | 87.50 | 91.50 |
| Extraordinary income/expense | (10.71) | (104.16) | 0.00 | 0.00 | - |
| Net Profit Before Unusual Items | 64.59 | 70.44 | 110.50 | 87.50 | - |
| EPS Before Unusual Items (Riyal/Share) | 0.35 | 0.38 | 0.42 | 0.34 | 0.35 |
Quarterly Profit and Revenue (M Riyal)
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:
Stock Performance
| Item | The Company | TASI |
|---|---|---|
| YTD | 20.80 % | 0.47 % |
| Change(12M) | 38.49 % | 10.45 % |
| Previous Close | 43.20 | 12,093.35 |
| P/E adjusted (x) | 33.58 | 24.91 |
| EPS (TTM) before unusual items (SAR/Share) | 1.49 | - |
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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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