THE NATIONAL AGRICULTURAL DEVELOPMENT COMPANY |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 32.2 SAR | -1.23% |
|
-4.59% | +15.62% |
| 05/05 | The National Agricultural Development Company Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| 05/05 | Nadec Reports Higher Q1 Net Profit, Revenue | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,338 | 3,029 | 3,085 | 2,075 | 2,831 | 9,713 | - | - |
| Enterprise Value (EV) 1 | 3,988 | 4,514 | 4,710 | 2,075 | 2,425 | 9,586 | 9,491 | 9,215 |
| P/E ratio | - | - | - | 21.7 x | 15.7 x | 26.6 x | 23.8 x | 23 x |
| Yield | - | - | - | - | - | 1.55% | 1.98% | 2.17% |
| Capitalization / Revenue | 1.05 x | 1.32 x | 1.39 x | 0.77 x | 0.89 x | 2.61 x | 2.34 x | 2.04 x |
| EV / Revenue | 1.79 x | 1.96 x | 2.12 x | 0.77 x | 0.76 x | 2.58 x | 2.29 x | 1.94 x |
| EV / EBITDA | 8.49 x | 12.5 x | 18 x | 4.95 x | 3.76 x | 14.7 x | 12.6 x | 11.5 x |
| EV / FCF | 16.6 x | 19.9 x | -44.1 x | 4.59 x | 6.69 x | -10.7 x | 18.5 x | 16.5 x |
| FCF Yield | 6.03% | 5.02% | -2.27% | 21.8% | 15% | -9.31% | 5.42% | 6.08% |
| Price to Book | 1.62 x | 2.05 x | 2.58 x | 1.6 x | 2.34 x | 2.46 x | 2.39 x | 2.18 x |
| Nbr of stocks (in thousands) | 1,01,640 | 1,01,640 | 1,01,640 | 1,01,640 | 1,01,640 | 3,01,640 | - | - |
| Reference price 2 | 23.00 | 29.80 | 30.35 | 20.42 | 27.85 | 32.20 | 32.20 | 32.20 |
| Announcement Date | 25/03/20 | 17/03/21 | 27/03/22 | 19/02/23 | 18/02/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,225 | 2,303 | 2,225 | 2,694 | 3,197 | 3,716 | 4,144 | 4,755 |
| EBITDA 1 | 469.6 | 361 | 261.7 | 419.6 | 645.6 | 654 | 750.5 | 803.5 |
| EBIT 1 | 191.9 | 184 | -213.3 | 164.1 | 344.6 | 409 | 478 | 522.5 |
| Operating Margin | 8.62% | 7.99% | -9.59% | 6.09% | 10.78% | 11.01% | 11.54% | 10.99% |
| Earnings before Tax (EBT) 1 | -2.384 | 41.37 | -245.3 | 101.5 | 290.3 | 385 | 436.5 | 446 |
| Net income 1 | -7.298 | 35.65 | -285 | 95.49 | 302.1 | 366 | 415 | 423 |
| Net margin | -0.33% | 1.55% | -12.81% | 3.54% | 9.45% | 9.85% | 10.02% | 8.9% |
| EPS 2 | - | - | - | 0.9400 | 1.770 | 1.210 | 1.355 | 1.400 |
| Free Cash Flow 1 | 240.6 | 226.4 | -106.7 | 451.8 | 362.6 | -892 | 514 | 560 |
| FCF margin | 10.81% | 9.83% | -4.8% | 16.77% | 11.34% | -24% | 12.4% | 11.78% |
| FCF Conversion (EBITDA) | 51.24% | 62.71% | - | 107.67% | 56.17% | - | 68.49% | 69.7% |
| FCF Conversion (Net income) | - | 634.98% | - | 473.08% | 120.04% | - | 123.86% | 132.39% |
| Dividend per Share 2 | - | - | - | - | - | 0.5000 | 0.6375 | 0.7000 |
| Announcement Date | 25/03/20 | 17/03/21 | 27/03/22 | 19/02/23 | 18/02/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 591.4 | 1,634 | 607.3 | 707.8 | 702.7 | - | 785.9 | 861.1 | 800.6 | 857.6 |
| EBITDA | - | -2.037 | - | 97.8 | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 3.214 | - | - | - | - | 37.69 | 65.13 | 75.27 | 124 | 101.3 |
| Net margin | 0.54% | - | - | - | - | - | 8.29% | 8.74% | 15.49% | 11.82% |
| EPS | - | - | - | - | - | 0.3700 | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 24/10/21 | 27/03/22 | 25/05/22 | 16/08/22 | 25/10/22 | 07/05/23 | 01/08/23 | 02/11/23 | 18/02/24 | 05/05/24 |
1SAR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,651 | 1,485 | 1,625 | - | - | - | - | - |
| Net Cash position 1 | - | - | - | - | 406 | 127 | 222 | 498 |
| Leverage (Debt/EBITDA) | 3.515 x | 4.113 x | 6.21 x | - | - | - | - | - |
| Free Cash Flow 1 | 241 | 226 | -107 | 452 | 363 | -892 | 514 | 560 |
| ROE (net income / shareholders' equity) | 8.01% | 2.44% | -21.3% | 7.67% | 12.4% | 9.2% | 10.4% | 9.5% |
| ROA (Net income/ Total Assets) | - | 0.91% | -7.34% | 2.48% | 6.76% | 5.8% | 5.9% | 5.6% |
| Assets 1 | - | 3,910 | 3,883 | 3,856 | 4,466 | 6,310 | 7,034 | 7,554 |
| Book Value Per Share 2 | 14.20 | 14.50 | 11.80 | 12.70 | 11.90 | 13.10 | 13.50 | 14.80 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 236 | 268 | 362 | 304 | 292 | 1,299 | 192 | 166 |
| Capex / Sales | 10.59% | 11.65% | 16.28% | 11.27% | 9.14% | 34.96% | 4.63% | 3.48% |
| Announcement Date | 25/03/20 | 17/03/21 | 27/03/22 | 19/02/23 | 18/02/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
32.2
SAR
Average target price
29.6
SAR
Spread / Average Target
-8.07%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +15.62% | 262.19Cr | |
| -0.93% | 9.55TCr | |
| -1.33% | 4.4TCr | |
| +12.37% | 4.14TCr | |
| +2.25% | 4.11TCr | |
| +8.44% | 3.99TCr | |
| -13.28% | 3.11TCr | |
| -5.41% | 2.92TCr | |
| +13.52% | 2.53TCr | |
| -4.79% | 2.4TCr |
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