Financials National Company for Learning and Education

Equities

4291

SA14L09I31H9

Professional & Business Education

End-of-day quote Saudi Arabian S.E. 03:30:00 05/05/2024 am IST 5-day change 1st Jan Change
156 SAR +0.26% Intraday chart for National Company for Learning and Education +2.36% +31.98%

Valuation

Fiscal Period: August 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,219 2,855 2,516 4,988 6,708 - -
Enterprise Value (EV) 1 2,219 2,753 2,368 4,866 6,529 6,475 6,421
P/E ratio 38.5 x 116 x 35.5 x 48.9 x 57.4 x 48 x 41.5 x
Yield - 1.2% 1.37% 1.03% 1.11% 1.2% 1.45%
Capitalization / Revenue 10.2 x 16.2 x 8.15 x 10.8 x 12 x 10.2 x 9.22 x
EV / Revenue 10.2 x 15.6 x 7.68 x 10.5 x 11.7 x 9.87 x 8.83 x
EV / EBITDA - 56.1 x 22.6 x 32.6 x 38 x 32.1 x 28.1 x
EV / FCF - 36.2 x - 82.2 x -363 x -112 x 49.8 x
FCF Yield - 2.76% - 1.22% -0.28% -0.9% 2.01%
Price to Book - 4.64 x 3.87 x 7.08 x 8.98 x 8.32 x 7.7 x
Nbr of stocks (in thousands) 43,000 43,000 43,000 43,000 43,000 - -
Reference price 2 51.60 66.40 58.50 116.0 156.0 156.0 156.0
Announcement Date 22/11/20 18/11/21 16/11/22 29/11/23 - - -
1SAR in Million2SAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: August 2020 2021 2022 2023 2024 2025 2026
Net sales 1 217.8 176.1 308.5 462 558.2 656.1 727.2
EBITDA 1 - 49.09 104.8 149.5 171.6 201.6 228.8
EBIT 1 - 32.66 80.17 114.2 135.1 162.5 185
Operating Margin - 18.55% 25.98% 24.72% 24.2% 24.77% 25.44%
Earnings before Tax (EBT) 1 - 28.48 - - 107 133 148
Net income 1 - 24.46 71.05 - 104 129 143
Net margin - 13.89% 23.03% - 18.63% 19.66% 19.66%
EPS 2 1.340 0.5700 1.650 2.370 2.720 3.250 3.756
Free Cash Flow 1 - 75.94 - 59.17 -18 -58 129
FCF margin - 43.13% - 12.81% -3.22% -8.84% 17.74%
FCF Conversion (EBITDA) - 154.69% - 39.58% - - 56.37%
FCF Conversion (Net income) - 310.48% - - - - 90.21%
Dividend per Share 2 - 0.8000 0.8000 1.200 1.734 1.878 2.255
Announcement Date 22/11/20 18/11/21 16/11/22 29/11/23 - - -
1SAR in Million2SAR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: August 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 73.28 - 79.16 79.32 105 113.4 113.8 119.4
EBITDA - - - - - - - -
EBIT 1 20.59 - 20.86 18.29 30.12 32.33 - 23.26
Operating Margin 28.09% - 26.34% 23.05% 28.67% 28.52% - 19.49%
Earnings before Tax (EBT) - - - - - - - -
Net income 18.1 18.21 18.56 16.18 25.87 27.37 27.62 -
Net margin 24.7% - 23.45% 20.4% 24.63% 24.15% 24.27% -
EPS - 0.4200 - - - - - -
Dividend per Share - - - - - - - -
Announcement Date 09/01/22 13/04/22 30/06/22 16/11/22 10/01/23 10/04/23 18/07/23 29/11/23
1SAR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: August 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - -
Net Cash position 1 - 103 147 122 179 233 287
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 - 75.9 - 59.2 -18 -58 129
ROE (net income / shareholders' equity) - 3.95% 11.2% 15.6% 16.1% 18% 19.2%
ROA (Net income/ Total Assets) - 2.88% 7.62% - 7.3% 7.8% 8%
Assets 1 - 848.8 932.2 - 1,425 1,654 1,788
Book Value Per Share 2 - 14.30 15.10 16.40 17.40 18.70 20.20
Cash Flow per Share 2 - 1.980 3.460 4.900 4.450 5.020 5.630
Capex 1 - 9.07 53.6 154 145 145 70.4
Capex / Sales - 5.15% 17.38% 33.24% 26.05% 22.03% 9.68%
Announcement Date 22/11/20 18/11/21 16/11/22 29/11/23 - - -
1SAR in Million2SAR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
156 SAR
Average target price
118.5 SAR
Spread / Average Target
-24.04%
Consensus

Quarterly revenue - Rate of surprise

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