Nayifat’s profit up 48% to SAR 131.2M in 2024; Q4 at SAR 36.8M

Nayifat’s profit up 48% to SAR 131.2M in 2024; Q4 at SAR 36.8M

20/02/2025 Argaam Exclusive

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Nayifat Finance Co. witnessed a 48% profit increase to SAR 131.2 million in 2024, compared to SAR 88.7 million in the year before.



Financials (M)

Item 2023 2024 Change‬
Net income from finance commissions 257.89 225.14 (12.7 %)
Net Income 88.71 131.24 47.9 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items 0.74 1.09 47.9 %
EPS (Riyals) 0.74 1.09 47.9 %

Operating profit jumped on a decrease in the net expected credit loss allowance, which followed an improvement in write off recoveries.

 

On the other hand, revenues declined mainly on lower consumer finance commission income due to higher suspended income from non-performing clients.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Net income from finance commissions 59.01 57.82 (2.0 %)
Net Income 15.87 36.82 132.0 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items 0.13 0.31 132.0 %
EPS (Riyals) 0.13 0.31 132.0 %

View More Financial Results

 


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual 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
Q4 2024 36.82 132.0 % 0.31 - 36.82 0.31
2024 131.24 47.9 % 1.09 - 131.24 1.09


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 %)
Q4 2024 91.21 (3.6 %) 57.82 (2.0 %)
2024 362.56 (8.3 %) 225.14 (12.7 %)

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 %
Q4 2024 6.34 % 9.29 % 36.20 %
2024 6.34 % 9.29 % 36.20 %

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 %)
Q4 2024 2.06 (0.6 %) 1.87 (0.4 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (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
Q4 2024 120.00 1.09 1.09 12.07

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
Q4 2024 14.14 14.14 1.28


Financial Ratios
Current
Market Cap (M) 1,696.80
Shares Outstanding ((M)) 120.00
EPS ( Riyal) (TTM) 1.09
Book Value (BV) ( Riyal) 12.07
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 12.93
P/E (TTM) 12.93
Price/book 1.17
Return on Average Assets (%) (TTM) 6.3
Return on Average Equity (%) (TTM) 9.3
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Share Price

Nayifat Finance Co.
14.14
0.14 1.00 %

Nayifat Finance Co. (NAYIFAT)

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