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NADEC closes at all-time high
18/02/2024
Argaam Exclusive
Shares of National Agricultural Development Co. (NADEC) rose 10% today, Feb. 18, to close at the highest price since listing at SAR 35.30 per share.
Nearly 5.4 million shares changed hands at a total value of SAR 187 million.
| Year High (SAR) | Year Low (SAR) |
| 35.30 | 11.34 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 35.30 | 1.40 |
Accordingly, the stock’s full-year gains exceeded 180%.
Market Data :
| Open | 24.14 |
| Low | 23.92 |
| High | 24.24 |
| Previous Close | 24.10 |
| Change (3M) | (18.16 %) |
| Change (6M) | (25.06 %) |
| Market Value | 7,233.33 |
| Avg. Volume (3M) | 1,222,983.98 |
| Avg. Turnover (3M) | 32,903,689.63 |
| Avg. Transaction (3M) | 3,827.35 |
| Change(12M) | 7.34 % |
| YTD | (13.90 %) |
The company amended its capital several times through bonus share distributions and rights issues, as follows:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2023 | Right Issue | 3,016.40 | 196.77% |
| 2020 | Split | 1,016.40 | 20.00% |
| 2017 | Private Offering Cancelled | 1,382.86 | 63.27% |
| 2016 | Split | 847.00 | 10.00% |
| 2015 | Split | 770.00 | 10.00% |
| 2014 | Split | 700.00 | 16.67% |
| 2008 | Split | 600.00 | 50.00% |
NADEC’s profits rose to SAR 302.1 million by the end of 2023, compared to SAR 95.5 million in 2022. Q4 2023 profits amounted to about SAR 124 million.
Financial Performance :
Overview :
The company was established as a Saudi joint-stock company in Riyadh in 1981.
It is engaged in agricultural and livestock production, reclamation of agricultural land, food processing, and marketing and distribution of its products. The firm operates via two key business segments, the dairy and food manufacturing segment, which includes managing dairy farms, agricultural production, manufacturing of dairy and food products, including honey and date processing. The agricultural segment includes ...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 7,233.33 |
| Shares Outstanding ((M)) | 301.64 |
| EPS ( ) (TTM) | 1.49 |
| Book Value (BV) ( Riyal) (Latest announcement) | 13.00 |
| Adjusted P/E (Last12) | 17.04 |
| Price/book | 1.85 |
| Dividend Yield (%) (Last Year) | 0.00 |
| Return on Average Assets (%) (TTM) | 9.30 |
| Return on Average Equity (%) (TTM) | 16.71 |
| Par Value ( Riyal) | 10.00 |
| Enterprise Value (EV) (M) | 5,959.83 |
Analyst Estimates :
34.3
Fair Average Price
1
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Buy | United Securities Company | 29.95 | 34.30 | 14.52 % |
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