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Taiba Q3 2024: Analyst forecasts & insights
06/11/2024
Argaam Exclusive
In this report, Argaam highlights the expected results of Taiba Investments Co. for the third quarter of 2024, its key events, quarterly profit and sales, and performance indicators.
The third-quarter revenue is forecast to leap 221.69% year-on-year (YoY) to SAR 381 million.
Quarter Revenue Changes (M Riyal)
| Item | Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Sales | 118.44 | 175.90 | 332.07 | 377.40 | 381.00 |
| Change % | 30.33% | 69.23% | 199.27% | 187.83% | 221.69% |
| Income from Affiliate | 2.04 | 0.89 | 0.00 | (6.94) | NA |
| Change % | 121.26% | NA | NA | NA | NA |
Quarter Net Income Changes (M Riyal)
| Item | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 53.89 | (33.71) | 110.50 | 87.50 | 91.50 |
| Extraordinary income/expense | (10.71) | (104.16) | 0.00 | 0.00 | - |
| Net Profit Before Unusual Items | 64.59 | 70.44 | 110.50 | 87.50 | - |
| EPS Before Unusual Items (Riyal/Share) | 0.35 | 0.38 | 0.42 | 0.34 | 0.35 |
Quarterly Profit and Revenue (M Riyal)
Average estimates
Taiba’s Q3 2024 net profit is projected to reach SAR 91.5 million, a 41.7% increase from Q3 2023, according to average estimates by one research house.
Quarterly Actuals vs Estimates (M Riyal)
Average Estimate (M Riyal)
| Analyst | Million Riyals |
|---|---|
| SNB Capital Company | 91.50 |
| Average | 91.50 |
| Net Profit Before Unusual Items (2023 - Q3) | 64.59 |
| Change % | 41.65% |
Performance and Profitability Indicators
The following table illustrates the stock performance, P/E and earnings per share trailing 12 months (TTM) and year to date:
Stock Performance
| Item | The Company | TASI |
|---|---|---|
| YTD | 47.66 % | 0.47 % |
| Change(12M) | 43.38 % | 10.45 % |
| Previous Close | 43.20 | 12,093.35 |
| P/E adjusted (x) | 33.58 | 25.04 |
| EPS (TTM) before unusual items (SAR/Share) | 1.49 | - |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 46.02 |
| P/E Before Unusual Items (TTM) | 31.39 |
| P/BV | 1.53 |
| Dividend Yield | 2.43 % |
| Market Cap. (M) | 10,288.17 |
| Return on Average Assets | 3.09 % |
| Return on Average Equity | 4.20 % |
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