Company Valuation: A'ayan Leasing and Investment Company K.S.C.P.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 73.67 112.5 88.32 115.5 104.3 152.7
Change - 52.71% -21.5% 30.83% -9.77% 46.5%
Enterprise Value (EV) 1 51.72 85.43 77.54 95.74 93.69 174.9
Change - 65.17% -9.24% 23.47% -2.14% 86.72%
P/E 3.56x 19.4x 10.1x 9.34x 9.25x 7.83x
PBR 0.81x 1.29x 0.97x 1.18x 1.01x 1.29x
PEG - -0.3x 0.2x 0.2x -1.04x 0.1x
Capitalization / Revenue 4.98x 6.75x 4.23x 4.53x 4.38x 3.52x
EV / Revenue 3.49x 5.12x 3.71x 3.76x 3.94x 4.03x
EV / EBITDA 3.77x 5.51x 3.94x 3.94x 4.03x 4.41x
EV / EBIT 13.1x 13.1x 7.48x 6.57x 6.86x 5.87x
EV / FCF 3.88x -80x 5.82x 4.18x 5.47x -26.4x
FCF Yield 25.7% -1.25% 17.2% 23.9% 18.3% -3.79%
Dividend per Share 2 - - 0.0075 0.0075 0.0075 0.0075
Rate of return - - 5.64% 4.31% 4.78% 3.26%
EPS 2 0.0277 0.008857 0.0132 0.0186 0.017 0.0294
Distribution rate - - 56.9% 40.3% 44.2% 25.5%
Net sales 1 14.8 16.67 20.89 25.48 23.8 43.44
EBITDA 1 13.73 15.51 19.66 24.32 23.25 39.69
EBIT 1 3.949 6.498 10.37 14.58 13.66 29.81
Net income 1 20.69 6.099 9.002 12.37 11.27 19.52
Net Debt 1 -21.95 -27.08 -10.78 -19.8 -10.56 22.22
Reference price 2 0.0988 0.1720 0.1330 0.1740 0.1570 0.2300
Nbr of stocks (in thousands) 7,45,557 6,53,969 6,64,039 6,64,039 6,64,039 6,64,039
Announcement Date 07/02/21 07/02/22 25/01/23 04/02/24 19/02/25 11/02/26
1KWD in Million2KWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 62Cr
9.25x7.63x8.87x1.03% 2.33TCr
10.41x4.22x44.97x3.33% 800.18Cr
8.22x9.04x9.62x4.73% 683.92Cr
17.7x7.45x11.83x1.49% 628.72Cr
26.52x3.67x9.03x1.05% 493.21Cr
8.55x - - 3.78% 242.67Cr
2.71x - - - 217.72Cr
Average 11.91x 6.40x 16.86x 2.57% 682.33Cr
Weighted average by Cap. 11.56x 6.86x 15.22x 2.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation A'ayan Leasing and Investment Company K.S.C.P.