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What do analysts expect from Rasan’s Q4 2024 results?
AI Summary
In this report, Argaam highlights the expected results of Rasan Information Technology Co. for Q4 2024, in addition to its key events, sales development, quarterly earnings, as well as performance and profitability indicators.
The fourth-quarter revenue is estimated to surge 63.22% year-on-year (YoY) to SAR 114 million.
Quarter Revenue Changes (M Riyal)
| Item | Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Sales | 69.85 | 66.93 | 63.53 | 110.00 | 114.00 |
| Change % | 24.33% | 19.81% | 21.57% | 40.55% | 63.22% |
Quarter Net Income Changes (M Riyal)
| Item | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 9.95 | 10.49 | 7.80 | 36.65 | 35.00 |
| Extraordinary income/expense | (8.46) | 0.00 | 0.00 | 0.00 | - |
| Net Profit Before Unusual Items | 18.41 | 10.49 | 7.80 | 36.65 | - |
| EPS Before Unusual Items (Riyal/Share) | 0.26 | 0.15 | 0.10 | 0.48 | 0.46 |
Key events in Q4 2024:
Rasan’s subsidiary, Tameeni, received the approval of the Insurance Authority (IA) to directly sell a comprehensive insurance product specifically designed for leased vehicles. This product will enhance operational efficiency, expand the customer base, and provide additional services to existing clients. The services are likely to positively impact the company’s financial performance for 2024.
Quarterly Profit and Revenue (M Riyal)
Average estimates:
In Q4 2024, Rasan is expected to report a 90.1% YoY net profit increase to SAR 35 million compared to a profit (excluding exceptional items) of SAR 18.4 million in the year-earlier period, according to an average estimate by one research firm.
Quarterly Actuals vs Estimates (M Riyal)
Average Estimate (M Riyal)
| Analyst | Million Riyals |
|---|---|
| Al Rajhi Capital Company | 35.00 |
| Average | 35.00 |
| Net Profit Before Unusual Items (2023 - Q4) | 18.41 |
| Change % | 90.09% |
Performance & profitability indicators:
The following table shows the stock’s performance trailing 12 months (TTM) and year to date, as well as its P/E and earnings per share:
Stock Performance
| Item | The Company | TASI |
|---|---|---|
| YTD | (7.75 %) | 2.87 % |
| Change(12M) | - | 1.76 % |
| Previous Close | 90.80 | 12,424.32 |
| P/E adjusted (x) | 95.95 | 24.96 |
| EPS (TTM) before unusual items (SAR/Share) | 1.00 | - |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 65.21 |
| P/E Before Unusual Items (TTM) | 59.69 |
| P/BV | 14.89 |
| Dividend Yield | - |
| Market Cap. (M) | 6,177.55 |
| Return on Average Assets | 15.17 % |
| Return on Average Equity | 25.88 % |
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