Nayifat 9M 2024 profit leaps 30% to SAR 94.4M; Q3 at SAR 38.9M

29/10/2024 Argaam Exclusive

Nayifat Finance Co. reported a net profit of SAR 94.4 million in the first nine months of 2024, a leap of 30% from SAR 72.8 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Net income from finance commissions 198.88 167.31 (15.9 %)
Net Income 72.84 94.42 29.6 %
Average Shares 120.00 120.00 -
EPS (Riyals) 0.61 0.79 29.6 %

The profit growth was attributed to a decrease in net credit impairment charges and derived by an enhanced collection and write off recoveries.

 

However, the company recorded lower revenues from credit cards and consumer finance as a result of portfolio segmentation mix.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Net income from finance commissions 64.05 56.73 (11.4 %)
Net Income 19.14 38.92 103.4 %
Average Shares 120.00 120.00 -
EPS (Riyals) 0.16 0.32 103.4 %

In Q3 2024, net earnings reached SAR 38.9 million, soaring 103.4% from SAR 19.14 million a year before.

 

On a quarterly basis, the Q3 net profit grew 1.6% from SAR 38.32 million.

 

Shareholders’ equity, with no minority interest, reached SAR 1.47 billion by the end of the nine-month period, down from SAR 1.36 billion a year earlier.

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Share Price

Nayifat Finance Co.
13.84
0.06 0.44 %

Nayifat Finance Co. (NAYIFAT)

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Financial Ratios
Current
Market Cap (M) 1,660.80
Shares Outstanding ((M)) 120.00
EPS ( Riyal) (TTM) 0.92
Book Value (BV) ( Riyal) 12.26
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 15.06
P/E (TTM) 15.06
Price/book 1.13
Return on Average Assets (%) (TTM) 5.3
Return on Average Equity (%) (TTM) 7.8
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Financial results (Million)

Period Commission income from finance and investments Change Net income from finance commissions Change
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 99.57 - 64.75 -
Q2 2017 81.65 - 45.40 -
Q3 2017 81.60 - 45.01 -
Q4 2017 95.10 - 39.61 -
Q1 2018 84.02 (15.6 %) 51.38 (20.7 %)
Q2 2018 79.79 (2.3 %) 49.68 9.4 %
Q3 2018 76.72 (6.0 %) 43.98 (2.3 %)
Q4 2018 81.75 (14.0 %) 44.22 11.7 %
Q1 2019 84.97 1.1 % 49.61 (3.4 %)
Q2 2019 93.62 17.3 % 57.31 15.4 %
Q3 2019 102.47 33.6 % 63.43 44.2 %
Q4 2019 108.83 33.1 % 67.58 52.8 %
Q1 2020 108.43 27.6 % 69.60 40.3 %
Q2 2020 100.80 7.7 % 67.37 17.5 %
Q3 2020 104.43 1.9 % 68.66 8.2 %
Q4 2020 100.81 (7.4 %) 67.16 (0.6 %)
Q1 2021 99.06 (8.6 %) 72.27 3.8 %
Q2 2021 97.39 (3.4 %) 72.58 7.7 %
Q3 2021 97.27 (6.9 %) 71.34 3.9 %
Q4 2021 97.13 (3.6 %) 67.89 1.1 %
Q1 2022 94.13 (5.0 %) 65.28 (9.7 %)
Q2 2022 98.88 1.5 % 69.83 (3.8 %)
Q3 2022 100.60 3.4 % 71.76 0.6 %
Q4 2022 98.43 1.3 % 68.71 1.2 %
Q1 2023 99.34 5.5 % 67.90 4.0 %
Q2 2023 101.70 2.9 % 66.93 (4.2 %)
Q3 2023 99.59 (1.0 %) 64.05 (10.7 %)
Q4 2023 94.62 (3.9 %) 59.01 (14.1 %)
Q1 2024 85.53 (13.9 %) 49.20 (27.5 %)
Q2 2024 93.09 (8.5 %) 61.38 (8.3 %)
Q3 2024 92.73 (6.9 %) 56.73 (11.4 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 48.25 - 0.40 - 48.25 0.40
Q2 2017 35.41 - 0.30 - 35.41 0.30
Q3 2017 39.00 - 0.32 - 39.00 0.32
Q4 2017 46.92 - 0.39 - 46.92 0.39
Q1 2018 39.29 (18.6 %) 0.33 - 39.29 0.33
Q2 2018 33.38 (5.7 %) 0.28 - 33.38 0.28
Q3 2018 36.85 (5.5 %) 0.31 - 36.85 0.31
Q4 2018 67.04 42.9 % 0.56 - 67.04 0.56
Q1 2019 41.31 5.1 % 0.34 - 41.31 0.34
Q2 2019 67.62 102.6 % 0.56 - 67.62 0.56
Q3 2019 46.73 26.8 % 0.39 - 46.73 0.39
Q4 2019 63.17 (5.8 %) 0.53 - 63.17 0.53
Q1 2020 53.75 30.1 % 0.45 - 53.75 0.45
Q2 2020 37.37 (44.7 %) 0.31 - 37.37 0.31
Q3 2020 49.48 5.9 % 0.41 - 49.48 0.41
Q4 2020 60.88 (3.6 %) 0.51 - 60.88 0.51
Q1 2021 57.92 7.8 % 0.48 - 57.92 0.48
Q2 2021 58.10 55.5 % 0.48 - 58.10 0.48
Q3 2021 57.63 16.5 % 0.48 - 57.63 0.48
Q4 2021 51.44 (15.5 %) 0.43 - 51.44 0.43
Q1 2022 49.52 (14.5 %) 0.41 - 49.52 0.41
Q2 2022 43.74 (24.7 %) 0.36 - 43.74 0.36
Q3 2022 42.04 (27.1 %) 0.35 - 42.04 0.35
Q4 2022 36.15 (29.7 %) 0.30 - 36.15 0.30
Q1 2023 32.45 (34.5 %) 0.27 - 32.45 0.27
Q2 2023 21.25 (51.4 %) 0.18 - 21.25 0.18
Q3 2023 19.14 (54.5 %) 0.16 - 19.14 0.16
Q4 2023 15.87 (56.1 %) 0.13 - 15.87 0.13
Q1 2024 17.18 (47.1 %) 0.14 - 17.18 0.14
Q2 2024 38.32 80.3 % 0.32 - 38.32 0.32
Q3 2024 38.92 103.4 % 0.32 - 38.92 0.32

Balance Sheet (B)

Period Assets Change Net Finance Investments Change
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 1.90 - 1.52 -
Q1 2018 1.82 - 1.45 -
Q2 2018 1.77 - 1.43 -
Q3 2018 1.71 - 1.42 -
Q4 2018 1.75 (8.0 %) 1.46 (4.1 %)
Q1 2019 1.78 (2.3 %) 1.50 3.1 %
Q2 2019 1.92 8.7 % 1.59 11.2 %
Q3 2019 1.93 12.4 % 1.65 16.1 %
Q4 2019 1.99 13.4 % 1.73 18.7 %
Q1 2020 2.15 21.0 % 1.70 13.6 %
Q2 2020 2.13 11.1 % 1.61 1.2 %
Q3 2020 1.97 2.0 % 1.54 (6.4 %)
Q4 2020 1.87 (6.0 %) 1.52 (12.0 %)
Q1 2021 1.84 (14.8 %) 1.55 (8.8 %)
Q2 2021 1.89 (11.5 %) 1.56 (3.3 %)
Q3 2021 1.89 (3.7 %) 1.56 0.9 %
Q4 2021 1.87 (0.1 %) 1.57 3.5 %
Q1 2022 1.90 3.3 % 1.62 4.4 %
Q2 2022 1.91 1.1 % 1.65 5.8 %
Q3 2022 1.96 3.6 % 1.68 7.9 %
Q4 2022 1.94 3.8 % 1.75 11.1 %
Q1 2023 2.06 8.7 % 1.88 16.3 %
Q2 2023 2.09 9.2 % 1.89 15.1 %
Q3 2023 2.08 6.0 % 1.90 13.4 %
Q4 2023 2.08 7.1 % 1.87 7.1 %
Q1 2024 2.05 (0.3 %) 1.87 (0.7 %)
Q2 2024 2.06 (1.3 %) 1.87 (1.1 %)
Q3 2024 2.06 (1.1 %) 1.89 (0.5 %)

Profitability

Period Return On Average Assets Return on Average Equity Net Profit/Investment Income & Other Financing Operations
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - 47.38 %
Q1 2018 - 19.90 % 46.91 %
Q2 2018 - 19.39 % 46.57 %
Q3 2018 - 18.34 % 46.61 %
Q4 2018 9.65 % 19.58 % 54.79 %
Q1 2019 9.91 % 18.95 % 55.25 %
Q2 2019 11.54 % 21.91 % 63.14 %
Q3 2019 12.23 % 22.45 % 61.38 %
Q4 2019 11.70 % 22.28 % 56.12 %
Q1 2020 11.76 % 22.46 % 55.95 %
Q2 2020 9.92 % 19.00 % 47.80 %
Q3 2020 10.46 % 18.78 % 48.23 %
Q4 2020 10.44 % 18.87 % 48.61 %
Q1 2021 10.31 % 18.30 % 50.76 %
Q2 2021 11.26 % 20.42 % 56.35 %
Q3 2021 12.15 % 20.18 % 59.44 %
Q4 2021 12.05 % 19.47 % 57.59 %
Q1 2022 11.61 % 17.91 % 56.15 %
Q2 2022 10.66 % 17.08 % 52.23 %
Q3 2022 9.69 % 15.13 % 47.79 %
Q4 2022 9.01 % 13.82 % 43.73 %
Q1 2023 7.80 % 12.05 % 38.86 %
Q2 2023 6.60 % 10.33 % 32.97 %
Q3 2023 5.39 % 8.34 % 27.31 %
Q4 2023 4.42 % 6.66 % 22.44 %
Q1 2024 3.57 % 5.41 % 19.25 %
Q2 2024 4.37 % 6.52 % 24.27 %
Q3 2024 5.33 % 7.79 % 30.14 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 120.00 - - 5.99
Q2 2017 120.00 - - 6.24
Q3 2017 120.00 - - 6.52
Q4 2017 120.00 1.41 1.41 7.13
Q1 2018 120.00 1.34 1.34 7.46
Q2 2018 120.00 1.32 1.32 7.39
Q3 2018 120.00 1.30 1.30 7.69
Q4 2018 120.00 1.47 1.47 7.90
Q1 2019 120.00 1.49 1.49 8.24
Q2 2019 120.00 1.77 1.77 8.81
Q3 2019 120.00 1.86 1.86 8.84
Q4 2019 120.00 1.82 1.82 8.47
Q1 2020 120.00 1.93 1.93 8.92
Q2 2020 120.00 1.68 1.68 8.83
Q3 2020 120.00 1.70 1.70 9.24
Q4 2020 120.00 1.68 1.68 9.33
Q1 2021 120.00 1.71 1.71 9.81
Q2 2021 120.00 1.89 1.89 9.65
Q3 2021 120.00 1.95 1.95 10.13
Q4 2021 120.00 1.88 1.88 9.94
Q1 2022 120.00 1.81 1.81 10.35
Q2 2022 120.00 1.69 1.69 10.09
Q3 2022 120.00 1.56 1.56 10.44
Q4 2022 120.00 1.43 1.43 10.74
Q1 2023 120.00 1.29 1.29 11.01
Q2 2023 120.00 1.10 1.10 11.19
Q3 2023 120.00 0.91 0.91 11.35
Q4 2023 120.00 0.74 0.74 11.47
Q1 2024 120.00 0.61 0.61 11.62
Q2 2024 120.00 0.75 0.75 11.94
Q3 2024 120.00 0.92 0.92 12.26

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 13.97 13.97 2.64
Q1 2022 14.03 14.03 2.45
Q2 2022 12.50 12.50 2.09
Q3 2022 12.78 12.78 1.90
Q4 2022 11.07 11.07 1.47
Q1 2023 11.93 11.93 1.39
Q2 2023 15.38 15.38 1.51
Q3 2023 15.50 15.50 1.24
Q4 2023 20.05 20.05 1.29
Q1 2024 23.33 23.33 1.23
Q2 2024 16.31 16.31 1.03
Q3 2024 16.21 16.21 1.22

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