Financials Arabian Internet and Communication Services Company

Equities

7202

SA15CIBJGH12

IT Services & Consulting

Market Closed - Saudi Arabian S.E. 08:20:04 2024-05-28 am EDT 5-day change 1st Jan Change
280.4 SAR +0.14% Intraday chart for Arabian Internet and Communication Services Company -2.16% -19.84%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 22,358 28,845 41,618 33,314 - -
Enterprise Value (EV) 1 20,782 28,301 38,890 29,716 28,817 27,658
P/E ratio 27.1 x 27.7 x 35.2 x 24 x 20.4 x 17.6 x
Yield 2.13% 1.65% 1.7% 2.34% 2.91% 3.48%
Capitalization / Revenue 2.86 x 3.28 x 3.77 x 2.71 x 2.44 x 2.21 x
EV / Revenue 2.66 x 3.21 x 3.52 x 2.42 x 2.11 x 1.83 x
EV / EBITDA 19.1 x 20.3 x 23.3 x 16.1 x 13.5 x 11.5 x
EV / FCF 17 x 18 x 33.8 x 19.3 x 14.9 x 12.7 x
FCF Yield 5.89% 5.55% 2.96% 5.18% 6.72% 7.88%
Price to Book 9.85 x 10.3 x 12.5 x 8.27 x 6.98 x 5.94 x
Nbr of stocks (in thousands) 118,800 118,800 118,977 118,977 - -
Reference price 2 188.2 242.8 349.8 280.0 280.0 280.0
Announcement Date 2/20/22 2/28/23 2/27/24 - - -
1SAR in Million2SAR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 7,816 8,805 11,040 12,295 13,652 15,102
EBITDA 1 - 1,090 1,392 1,669 1,846 2,130 2,410
EBIT 1 - 899.1 1,160 1,387 1,582 1,843 2,119
Operating Margin - 11.5% 13.18% 12.56% 12.86% 13.5% 14.03%
Earnings before Tax (EBT) 1 - 904 1,171 1,405 1,684 1,923 2,188
Net income 1 701.8 832.9 1,053 1,192 1,414 1,601 1,827
Net margin - 10.66% 11.96% 10.8% 11.5% 11.73% 12.1%
EPS 2 5.850 6.940 8.770 9.930 11.69 13.70 15.95
Free Cash Flow 1 - 1,224 1,570 1,150 1,540 1,936 2,179
FCF margin - 15.66% 17.83% 10.42% 12.52% 14.18% 14.43%
FCF Conversion (EBITDA) - 112.26% 112.78% 68.9% 83.44% 90.89% 90.4%
FCF Conversion (Net income) - 146.93% 149.14% 96.46% 108.92% 120.92% 119.29%
Dividend per Share 2 - 4.000 4.000 5.950 6.548 8.156 9.753
Announcement Date 8/29/21 2/20/22 2/28/23 2/27/24 - - -
1SAR in Million2SAR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 2,060 2,418 2,254 2,227 1,905 2,676 2,701 - 2,795 2,868 2,809 3,005 3,110 3,299
EBITDA - 366.3 349.5 363.7 306.3 418.8 447.1 - 530.5 277.9 440 - - -
EBIT 1 66.27 315.3 305.2 313.4 240.4 357 387.3 - 438 204.2 370 435 500.2 247.9
Operating Margin 3.22% 13.04% 13.54% 14.07% 12.62% 13.34% 14.34% - 15.67% 7.12% 13.17% 14.48% 16.08% 7.51%
Earnings before Tax (EBT) - - - - - - - - - - - - - -
Net income - 282.9 273.1 299.9 197 303.8 339.7 643.5 387 162 353 - - -
Net margin - 11.7% 12.11% 13.46% 10.34% 11.35% 12.57% - 13.85% 5.65% 12.57% - - -
EPS - - - 2.500 1.570 2.530 2.830 - - 1.350 2.940 - - -
Dividend per Share - - - - - - - - - 5.950 - - - -
Announcement Date 2/20/22 4/25/22 8/3/22 10/30/22 2/28/23 5/14/23 8/3/23 8/3/23 10/29/23 2/27/24 5/5/24 - - -
1SAR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - -
Net Cash position 1 - 1,576 544 2,728 3,598 4,497 5,656
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 - 1,224 1,570 1,150 1,540 1,936 2,179
ROE (net income / shareholders' equity) - 39.7% 41.6% 38.9% 39% 35.7% 34.8%
ROA (Net income/ Total Assets) - 12.3% 12.1% 10.9% 12.3% 11.6% 11.5%
Assets 1 - 6,754 8,727 10,921 11,495 13,862 15,875
Book Value Per Share 2 - 19.10 23.50 27.90 33.90 40.10 47.20
Cash Flow per Share 2 - 11.50 17.30 14.30 12.20 17.20 22.20
Capex 1 - 155 506 112 160 178 185
Capex / Sales - 1.98% 5.74% 1.01% 1.3% 1.3% 1.23%
Announcement Date 8/29/21 2/20/22 2/28/23 2/27/24 - - -
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

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
280 SAR
Average target price
344.6 SAR
Spread / Average Target
+23.08%
Consensus
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