Company Valuation: Tabuk Agricultural Development Company

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 418.5 783.3 1,171 595.5 676.2 591.6
Change - 87.17% 49.54% -49.16% 13.55% -12.51%
Enterprise Value (EV) 1 421 845.3 1,150 624.2 696.5 657.4
Change - 100.79% 36.11% -45.75% 11.58% -5.61%
P/E ratio -2.33x -17.4x -14.5x -11.3x 8.37x -4.1x
PBR 1.49x 3.46x 3.93x 2.43x 2.06x 3.3x
PEG - 0.2x -1.3x 0.3x -0x 0x
Capitalization / Revenue 4.97x 4.94x 9.81x 4.43x 6.41x 12.5x
EV / Revenue 5x 5.33x 9.63x 4.65x 6.6x 13.9x
EV / EBITDA -6.17x -109x -40.8x -41.1x -21.7x -16.3x
EV / EBIT -4.36x -22.7x -20.8x -16.2x -12.7x -10.9x
EV / FCF 12.3x 233x -18.2x -29.4x 28.7x -18.4x
FCF Yield 8.15% 0.43% -5.51% -3.4% 3.49% -5.44%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -7.436 -1.863 -2.068 -1.343 2.062 -3.681
Distribution rate - - - - - -
Net sales 1 84.12 158.5 119.4 134.4 105.5 47.35
EBITDA 1 -68.28 -7.739 -28.2 -15.19 -32.14 -40.35
EBIT 1 -96.49 -37.19 -55.32 -38.63 -54.79 -60.49
Net income 1 -179.8 -53.19 -70.55 -52.63 80.79 -144.2
Net Debt 1 2.478 61.95 -20.9 28.67 20.26 65.83
Reference price 2 17.309 32.400 29.900 15.200 17.260 15.100
Nbr of stocks (in thousands) 24,179 24,177 39,177 39,177 39,177 39,177
Announcement Date 30/03/20 05/04/21 05/04/22 06/04/23 14/04/24 10/04/25
1SAR in Million2SAR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 8.29Cr
15.73x1.21x10.28x1.86% 1.6TCr
6.05x1.1x7.43x7.49% 549.91Cr
30.26x1.94x14.76x1.33% 347.33Cr
12.18x1.36x6.26x2% 275.98Cr
9.49x0.65x6.16x4.9% 188.99Cr
24.39x - - - 174.76Cr
8.95x - - 8.41% 172.67Cr
Average 15.29x 1.25x 8.98x 4.33% 415.16Cr
Weighted average by Cap. 15.10x 1.25x 9.64x 3.34%
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Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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