National Learning profit up 47% to SAR 53.3 mln in H1 2022/23; Q2 at SAR 27.4 mln

10/04/2023 Argaam Exclusive

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National Company for Learning and Education (NCLE) reported a net profit of SAR 53.3 million for the first half ended Feb. 28, 2023, a jump of 47% from SAR 36.3 million in the year-earlier period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	151.67	224.91	48.3 %
Gross Income	60.18	93.13	54.8 %
Operating Income	40.11	57.66	43.8 %
Net Income	36.31	53.25	46.6 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.84	1.24	46.6 %

The first-half net profit was buoyed by a 46% year-on-year (YoY) rise in revenue, as the number of students enrolled in the company’s schools jumped 43% from 16,400 in the same quarter of the previous year to 23,400 during the current quarter.

NCLE’s educational campuses witnessed a YoY growth in the number of students during the current year. In addition, a new Tarbiyah Al Namouthajiyah Schools (TNS) educational campus was opened in Dhahran, the Eastern Province, in early 2022/23. The acquisition of Al-Salam Private Schools during the current quarter contributed to higher revenue and number of students.

The government grants and subsidies also have increased during the current quarter compared to Q2 2021/22. This is because the company benefited from the initiative of wages subsidies for the Saudi teachers by the Human Resources Development Fund.

The company’s net profit soared 50% to SAR 27.37 million in the second quarter, compared to SAR 18.21 million in the prior-year period.

Sequentially, net profit grew 5.8% from SAR 25.87 million in Q1 2022/23.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Revenues	77.29	116.81	51.1 %
Gross Income	29.80	48.51	62.8 %
Operating Income	19.70	30.05	52.6 %
Net Income	18.21	27.37	50.4 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.42	0.64	50.4 %

Item	Q1 2023	Q2 2023	Change‬
Revenues	105.05	116.81	11.2 %
Gross Income	44.62	48.51	8.7 %
Operating Income	28.12	30.05	6.9 %
Net Income	25.87	27.37	5.8 %
Average Shares	43.00	43.00	-
EPS (Riyals)	0.60	0.64	5.8 %

Total shareholders’ equity, no minority equity, stood at SAR 654.27 million by the end of the six-month period, compared to SAR 615.07 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	164.80	-	68.77	-	51.06	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	201.61	22.3 %	88.94	29.3 %	65.99	29.2 %
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	226.52	12.4 %	94.98	6.8 %	69.73	5.7 %
Q1 2017	59.74	-	23.32	-	16.56	-
Q2 2017	60.43	-	22.14	-	17.17	-
Q3 2017	58.07	-	22.32	-	14.73	-
Q4 2017	58.48	-	33.38	-	26.07	-
2017	236.72	4.5 %	101.16	6.5 %	74.52	6.9 %
Q1 2018	55.47	(7.2 %)	20.36	(12.7 %)	12.91	(22.0 %)
Q2 2018	54.00	(10.6 %)	18.98	(14.3 %)	12.85	(25.2 %)
Q3 2018	56.41	(2.9 %)	22.05	(1.2 %)	14.46	(1.8 %)
Q4 2018	54.08	(7.5 %)	20.95	(37.2 %)	14.49	(44.4 %)
2018	219.96	(7.1 %)	82.34	(18.6 %)	54.71	(26.6 %)
Q1 2019	52.53	(5.3 %)	21.08	3.5 %	12.86	(0.4 %)
Q2 2019	52.22	(3.3 %)	21.37	12.6 %	12.07	(6.1 %)
Q3 2019	51.36	(8.9 %)	21.32	(3.3 %)	10.86	(24.9 %)
Q4 2019	51.22	(5.3 %)	23.56	12.5 %	13.35	(7.8 %)
2019	207.34	(5.7 %)	87.33	6.1 %	49.14	(10.2 %)
Q1 2020	52.10	(0.8 %)	20.23	(4.0 %)	12.34	(4.0 %)
Q2 2020	56.49	8.2 %	24.22	13.3 %	14.18	17.5 %
Q3 2020	57.21	11.4 %	24.44	14.6 %	14.23	31.1 %
Q4 2020	59.49	16.1 %	36.35	54.3 %	24.40	82.7 %
2020	225.27	8.7 %	105.23	20.5 %	65.15	32.6 %
Q1 2021	44.45	(14.7 %)	13.91	(31.2 %)	5.29	(57.1 %)
Q2 2021	46.60	(17.5 %)	16.51	(31.8 %)	6.76	(52.3 %)
Q3 2021	48.85	(14.6 %)	18.52	(24.2 %)	10.97	(22.9 %)
Q4 2021	47.30	(20.5 %)	21.47	(40.9 %)	10.02	(58.9 %)
2021	187.19	(16.9 %)	70.41	(33.1 %)	33.04	(49.3 %)
Q1 2022	74.38	67.3 %	30.38	118.4 %	20.41	285.9 %
Q2 2022	77.29	65.9 %	29.80	80.5 %	19.70	191.3 %
Q3 2022	82.05	68.0 %	31.99	72.8 %	20.60	87.8 %
Q4 2022	81.97	73.3 %	34.34	59.9 %	18.28	82.5 %
2022	315.69	68.6 %	126.51	79.7 %	78.99	139.1 %
Q1 2023	105.05	41.2 %	44.62	46.9 %	28.12	37.8 %
Q2 2023	116.81	51.1 %	48.51	62.8 %	30.05	52.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	164.80	-	68.77	-	51.06	-
2015	201.61	22.3 %	88.94	29.3 %	65.99	29.2 %
2016	226.52	12.4 %	94.98	6.8 %	69.73	5.7 %
2017	236.72	4.5 %	101.16	6.5 %	74.52	6.9 %
2018	219.96	(7.1 %)	82.34	(18.6 %)	54.71	(26.6 %)
2019	207.34	(5.7 %)	87.33	6.1 %	49.14	(10.2 %)
2020	225.27	8.7 %	105.23	20.5 %	65.15	32.6 %
2021	187.19	(16.9 %)	70.41	(33.1 %)	33.04	(49.3 %)
2022	315.69	68.6 %	126.51	79.7 %	78.99	139.1 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	51.41	-	1.71	-	51.41	1.71
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	63.55	23.6 %	2.12	-	63.55	2.12
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	66.51	4.7 %	2.22	-	66.51	2.22
Q1 2017	15.06	-	0.50	-	15.06	0.50
Q2 2017	15.82	-	0.53	-	15.82	0.53
Q3 2017	13.27	-	0.44	-	13.27	0.44
Q4 2017	23.74	-	0.79	-	23.74	0.79
2017	67.89	2.1 %	2.26	-	67.89	2.26
Q1 2018	11.01	(26.9 %)	0.37	-	11.01	0.37
Q2 2018	11.42	(27.9 %)	0.38	-	11.42	0.38
Q3 2018	12.86	(3.1 %)	0.43	-	12.86	0.43
Q4 2018	13.59	(42.7 %)	0.45	-	13.59	0.45
2018	48.87	(28.0 %)	1.63	-	48.87	1.63
Q1 2019	11.48	4.2 %	0.27	-	11.48	0.27
Q2 2019	12.17	6.6 %	0.28	-	12.17	0.28
Q3 2019	13.46	4.7 %	0.31	2.50	10.96	0.25
Q4 2019	13.29	(2.2 %)	0.31	-	13.29	0.31
2019	50.39	3.1 %	1.17	2.50	47.89	1.11
Q1 2020	11.64	1.4 %	0.27	-	11.64	0.27
Q2 2020	13.44	10.5 %	0.31	-	13.44	0.31
Q3 2020	12.13	(9.9 %)	0.28	-	12.13	0.28
Q4 2020	20.59	54.9 %	0.48	-	20.59	0.48
2020	57.80	14.7 %	1.34	-	57.80	1.34
Q1 2021	3.79	(67.5 %)	0.09	-	3.79	0.09
Q2 2021	4.56	(66.0 %)	0.11	-	4.56	0.11
Q3 2021	9.15	(24.6 %)	0.21	-	9.15	0.21
Q4 2021	6.96	(66.2 %)	0.16	-	6.96	0.16
2021	24.46	(57.7 %)	0.57	-	24.46	0.57
Q1 2022	18.10	377.9 %	0.42	-	18.10	0.42
Q2 2022	18.21	298.9 %	0.42	-	18.21	0.42
Q3 2022	18.56	102.9 %	0.43	-	18.56	0.43
Q4 2022	16.18	132.5 %	0.38	-	16.18	0.38
2022	71.05	190.5 %	1.65	-	71.05	1.65
Q1 2023	25.87	42.9 %	0.60	-	25.87	0.60
Q2 2023	27.37	50.4 %	0.64	-	27.37	0.64

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	51.41	-	1.71	-	51.41	1.71
2015	63.55	23.6 %	2.12	-	63.55	2.12
2016	66.51	4.7 %	2.22	-	66.51	2.22
2017	67.89	2.1 %	2.26	-	67.89	2.26
2018	48.87	(28.0 %)	1.63	-	48.87	1.63
2019	50.39	3.1 %	1.17	2.50	47.89	1.11
2020	57.80	14.7 %	1.34	-	57.80	1.34
2021	24.46	(57.7 %)	0.57	-	24.46	0.57
2022	71.05	190.5 %	1.65	-	71.05	1.65

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	41.73 %	38.67 %	31.19 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	44.12 %	39.32 %	31.52 %
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	41.93 %	36.52 %	29.36 %
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	42.73 %	34.24 %	28.68 %
2017	42.73 %	37.00 %	28.68 %
Q1 2018	42.25 %	33.42 %	27.47 %
Q2 2018	42.05 %	33.99 %	26.30 %
Q3 2018	42.24 %	35.66 %	26.31 %
Q4 2018	37.43 %	31.21 %	22.22 %
2018	37.43 %	31.21 %	22.22 %
Q1 2019	38.27 %	31.36 %	22.73 %
Q2 2019	39.70 %	31.02 %	23.27 %
Q3 2019	40.30 %	29.79 %	22.93 %
Q4 2019	42.12 %	29.36 %	23.10 %
2019	42.12 %	29.36 %	23.10 %
Q1 2020	41.80 %	29.20 %	23.23 %
Q2 2020	42.30 %	29.27 %	23.36 %
Q3 2020	42.60 %	29.89 %	23.27 %
Q4 2020	46.71 %	32.78 %	25.66 %
2020	46.71 %	32.78 %	25.66 %
Q1 2021	45.45 %	31.09 %	22.95 %
Q2 2021	43.91 %	29.84 %	19.77 %
Q3 2021	42.78 %	30.15 %	19.10 %
Q4 2021	37.61 %	26.13 %	13.07 %
2021	37.61 %	26.13 %	13.07 %
Q1 2022	40.01 %	30.58 %	17.86 %
Q2 2022	40.42 %	33.10 %	21.15 %
Q3 2022	40.44 %	33.63 %	22.00 %
Q4 2022	40.07 %	33.47 %	22.51 %
2022	40.07 %	33.47 %	22.51 %
Q1 2023	40.64 %	33.22 %	22.76 %
Q2 2023	41.32 %	32.97 %	22.80 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	41.73 %	38.67 %	31.19 %
2015	44.12 %	39.32 %	31.52 %
2016	41.93 %	36.52 %	29.36 %
2017	42.73 %	37.00 %	28.68 %
2018	37.43 %	31.21 %	22.22 %
2019	42.12 %	29.36 %	23.10 %
2020	46.71 %	32.78 %	25.66 %
2021	37.61 %	26.13 %	13.07 %
2022	40.07 %	33.47 %	22.51 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	39.03 %	33.16 %	25.21 %
Q2 2017	36.64 %	-	26.18 %
Q3 2017	38.44 %	-	22.86 %
Q4 2017	57.07 %	50.19 %	40.59 %
Q1 2018	36.70 %	29.63 %	19.85 %
Q2 2018	35.15 %	30.19 %	21.14 %
Q3 2018	39.10 %	31.76 %	22.79 %
Q4 2018	38.74 %	33.27 %	25.13 %
Q1 2019	40.12 %	30.18 %	21.84 %
Q2 2019	40.92 %	28.73 %	23.30 %
Q3 2019	41.52 %	26.81 %	21.33 %
Q4 2019	45.99 %	31.71 %	25.95 %
Q1 2020	38.82 %	29.56 %	22.34 %
Q2 2020	42.87 %	29.01 %	23.80 %
Q3 2020	42.72 %	29.41 %	21.20 %
Q4 2020	61.11 %	42.40 %	34.61 %
Q1 2021	31.29 %	20.76 %	8.52 %
Q2 2021	35.44 %	22.99 %	9.79 %
Q3 2021	37.91 %	30.62 %	18.72 %
Q4 2021	45.39 %	29.63 %	14.71 %
Q1 2022	40.85 %	35.90 %	24.34 %
Q2 2022	38.55 %	34.11 %	23.56 %
Q3 2022	38.99 %	33.42 %	22.62 %
Q4 2022	41.89 %	30.71 %	19.74 %
Q1 2023	42.48 %	34.36 %	24.63 %
Q2 2023	41.53 %	32.99 %	23.44 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	30.00	-	-	10.20
Q2 2017	30.00	-	-	-
Q3 2017	30.00	-	-	10.58
Q4 2017	30.00	2.26	2.26	11.30
Q1 2018	30.00	2.13	2.13	11.63
Q2 2018	30.00	1.98	1.98	11.22
Q3 2018	30.00	1.97	1.97	11.65
Q4 2018	30.00	1.63	1.63	11.42
Q1 2019	43.00	1.15	1.15	13.51
Q2 2019	43.00	1.16	1.16	13.44
Q3 2019	43.00	1.18	1.12	13.78
Q4 2019	43.00	1.17	1.11	14.08
Q1 2020	43.00	1.18	1.12	14.44
Q2 2020	43.00	1.21	1.15	13.83
Q3 2020	43.00	1.17	1.17	14.13
Q4 2020	43.00	1.34	1.34	14.53
Q1 2021	43.00	1.16	1.16	14.59
Q2 2021	43.00	0.96	0.96	13.89
Q3 2021	43.00	0.89	0.89	14.14
Q4 2021	43.00	0.57	0.57	14.30
Q1 2022	43.00	0.90	0.90	14.68
Q2 2022	43.00	1.22	1.22	14.30
Q3 2022	43.00	1.44	1.44	14.78
Q4 2022	43.00	1.65	1.65	15.13
Q1 2023	43.00	1.83	1.83	15.79
Q2 2023	43.00	2.05	2.05	15.22

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	30.00	1.71	1.71	9.27
2015	30.00	2.12	2.12	10.02
2016	30.00	2.22	2.22	10.77
2017	30.00	2.26	2.26	11.30
2018	30.00	1.63	1.63	11.42
2019	43.00	1.17	1.11	14.08
2020	43.00	1.34	1.34	14.53
2021	43.00	0.57	0.57	14.30
2022	43.00	1.65	1.65	15.13

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
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	19.90	19.90	2.84
Q1 2019	19.92	19.92	1.69
Q2 2019	19.31	19.31	1.67
Q3 2019	22.31	23.47	1.91
Q4 2019	24.40	25.68	2.03
Q1 2020	25.09	26.40	2.04
Q2 2020	37.33	39.22	3.25
Q3 2020	41.34	41.34	3.44
Q4 2020	38.83	38.83	3.59
Q1 2021	40.85	40.85	3.25
Q2 2021	64.18	64.18	4.41
Q3 2021	71.80	71.80	4.50
Q4 2021	More than 100	More than 100	4.20
Q1 2022	56.12	56.12	3.45
Q2 2022	48.98	48.98	4.17
Q3 2022	43.12	43.12	4.19
Q4 2022	41.34	41.34	4.51
Q1 2023	54.56	54.56	6.33
Q2 2023	57.18	57.18	7.69

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	19.90	19.90	2.84
2019	24.40	25.68	2.03
2020	38.84	38.84	3.59
2021	More than 100	More than 100	4.20
2022	41.34	41.34	4.51

Business Segments (Million)

Compared With The

Period	EL Rayan School	EL Rowaby School	Al Qairwan schools	Al Nozaha school	Al Aridh Schools	Al Ghad National Schools	Breda Schools	Elsalam National school	Qortoba School	Al-Khoarizmy Schools	Al Zahran School	Other activities	Consolidation adjustments & eliminations
Q1 2017	19.87	19.13	-	14.95	-	-	-	-	-	-	-	-	-
Q4 2017	20.23	19.48	-	14.97	-	-	-	-	-	-	-	-	-
Q1 2018	18.99	17.68	-	14.15	-	-	-	-	0.33	-	-	-	-
Q2 2018	17.64	18.36	-	14.22	-	-	-	-	0.31	-	-	-	-
Q3 2018	17.24	20.04	-	14.15	-	-	-	-	0.43	-	-	-	-
Q4 2018	18.60	17.98	-	13.67	-	-	-	-	0.48	-	-	-	-
Q1 2019	18.62	17.86	-	15.27	-	-	-	-	0.78	-	-	-	-
Q2 2019	16.37	19.95	-	14.89	-	-	-	-	1.01	-	-	-	-
Q3 2019	17.22	18.27	-	14.95	-	-	-	-	0.92	-	-	-	-
Q4 2019	17.30	18.47	-	14.70	-	-	-	-	0.75	-	-	-	-
Q1 2020	17.68	18.92	-	13.42	-	-	0.44	-	1.64	-	-	-	-
Q2 2020	15.42	19.03	-	15.89	-	-	0.49	-	1.67	3.98	-	-	-
Q3 2020	16.15	18.49	-	14.35	-	2.18	0.48	-	1.62	3.93	-	-	-
Q4 2020	15.40	17.81	-	13.86	-	6.23	0.63	-	1.64	3.92	-	-	-
Q1 2021	10.16	12.22	2.37	9.42	-	5.39	1.00	-	1.01	2.90	-	-	-
Q2 2021	10.49	12.74	2.47	9.61	-	5.29	1.24	-	1.13	2.85	-	0.78	-
Q3 2021	11.05	13.52	3.06	10.15	-	5.89	1.18	-	1.16	2.83	-	1.32	(1.33)
Q4 2021	11.21	13.43	3.02	9.79	-	5.84	0.94	-	1.06	2.77	-	1.70	(2.47)
Q1 2022	14.08	16.18	9.76	12.80	4.44	7.75	2.81	-	2.32	4.26	-	1.80	(1.80)
Q2 2022	14.42	16.26	10.28	13.17	5.25	7.89	2.95	-	2.62	4.44	-	1.85	(1.85)
Q3 2022	15.22	16.88	11.33	13.56	5.96	8.27	3.32	-	3.09	4.41	-	1.84	(1.84)
Q4 2022	15.18	17.19	11.26	13.85	5.86	7.96	3.32	-	2.99	4.37	-	1.95	(1.95)
Q1 2023	18.47	18.63	17.06	17.08	11.01	8.67	5.84	-	4.62	4.74	2.00	1.80	(1.80)
Q2 2023	18.58	19.00	17.15	16.93	11.23	8.83	6.01	7.59	4.64	4.61	2.25	1.85	(1.85)

Period	EL Rayan School	EL Rowaby School	Al Qairwan schools	Al Nozaha school	Al Aridh Schools	Al Ghad National Schools	Breda Schools	Elsalam National school	Qortoba School	Al-Khoarizmy Schools	Al Zahran School	Other activities	Consolidation adjustments & eliminations
2015	85.42	76.15	-	37.00	-	-	-	-	-	-	-	-	-
2016	83.57	75.41	-	48.79	-	-	-	-	-	-	-	-	-
2017	79.18	76.70	-	59.54	-	-	-	-	-	-	-	-	-
2018	72.47	74.07	-	56.19	-	-	-	-	1.55	-	-	-	-
2019	69.51	74.56	-	59.81	-	-	-	-	3.46	-	-	-	-
2020	64.65	74.25	-	57.51	-	8.41	2.05	-	6.57	11.83	-	-	-
2021	42.91	51.90	10.92	38.98	-	22.41	4.36	-	4.36	11.36	-	3.80	(3.80)
2022	58.90	66.51	42.64	53.37	21.50	31.87	12.40	-	11.01	17.48	-	7.44	(7.44)

Analysts Estimates (Million)

Item	Q2 2023 (e)	Q2 2023 (a)	Change‬
Average	26.00	27.37	5.29 %

Estimates vs Actual (Million)

Item	Q2 2023 (e)	Q2 2023 (a)	Change
Arqaam Capital	26.00	27.37	5.3 %

Financial Ratios

	Current
Market Cap (M Riyal)	9,408.40
Enterprise Value (EV) (M)	9,309.44
Shares Outstanding ((M))	43.00
EPS ( Riyal) (TTM)	3.83
Book Value (BV) ( Riyal)	19.35
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	11.31
Return on Average Assets (%) (TTM)	11.8
Return on Average Equity (%) (TTM)	21.0

National Company for Learning and Education (NCLE)

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National Learning profit up 47% to SAR 53.3 mln in H1 2022/23; Q2 at SAR 27.4 mln

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

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National Learning profit up 47% to SAR 53.3 mln in H1 2022/23; Q2 at SAR 27.4 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2023

Revenue by Business Segment (Latest) 2023 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

National Company for Learning and Education (NCLE)

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Business Segments (Million)