R.A.K. CERAMICS |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.5 AED | 0.00% |
|
-0.40% | -6.37% |
| May. 10 | Transcript : R.A.K. Ceramics P.J.S.C., Q1 2024 Earnings Call, May 10, 2024 | |
| May. 10 | RAK Ceramics Books Lower Q1 Attributable Profit, Revenue | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,514 | 1,491 | 2,832 | 2,812 | 2,653 | 2,484 | - | - |
| Enterprise Value (EV) 1 | 2,888 | 2,720 | 2,832 | 4,113 | 4,075 | 3,832 | 3,957 | 2,484 |
| P/E ratio | 9.41 x | -11.5 x | 11.4 x | 9.43 x | 9.21 x | - | - | - |
| Yield | 9.38% | 5% | 7.02% | 7.07% | 7.49% | 8% | 8% | 8% |
| Capitalization / Revenue | 0.59 x | 0.63 x | 0.99 x | 0.8 x | 0.77 x | 0.72 x | 0.72 x | 0.69 x |
| EV / Revenue | 1.12 x | 1.16 x | 0.99 x | 1.17 x | 1.18 x | 1.1 x | 1.14 x | 0.69 x |
| EV / EBITDA | 6.49 x | 7.67 x | 6.17 x | 8.12 x | 7.1 x | 5.84 x | 6.23 x | - |
| EV / FCF | 10.9 x | 6.47 x | 6.24 x | 10.9 x | 16.7 x | 14.8 x | 38.9 x | 14.5 x |
| FCF Yield | 9.21% | 15.5% | 16% | 9.19% | 6% | 6.75% | 2.57% | 6.88% |
| Price to Book | 0.62 x | 0.7 x | 1.27 x | 1.3 x | 1.19 x | - | - | - |
| Nbr of stocks (in thousands) | 993,704 | 993,704 | 993,704 | 993,704 | 993,704 | 993,704 | - | - |
| Reference price 2 | 1.524 | 1.500 | 2.850 | 2.830 | 2.670 | 2.500 | 2.500 | 2.500 |
| Announcement Date | 2/11/20 | 2/10/21 | 2/7/22 | 2/9/23 | 2/8/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,575 | 2,349 | 2,861 | 3,517 | 3,458 | 3,470 | 3,457 | 3,626 |
| EBITDA 1 | 445.1 | 354.8 | 458.9 | 506.8 | 573.8 | 656 | 635 | - |
| EBIT 1 | 233.2 | 173.6 | 291.8 | 328.3 | 378.8 | 469.5 | 485 | - |
| Operating Margin | 9.06% | 7.39% | 10.2% | 9.33% | 10.96% | 13.53% | 14.03% | - |
| Earnings before Tax (EBT) 1 | 231.8 | -111.6 | 300.9 | 372.3 | 345.5 | 477 | - | - |
| Net income 1 | 164.4 | -129.7 | 246.5 | 302.8 | 290.9 | 357 | - | - |
| Net margin | 6.38% | -5.52% | 8.62% | 8.61% | 8.41% | 10.29% | - | - |
| EPS | 0.1619 | -0.1300 | 0.2500 | 0.3000 | 0.2900 | - | - | - |
| Free Cash Flow 1 | 265.9 | 420.7 | 454.1 | 378.2 | 244.6 | 258.5 | 101.7 | 171 |
| FCF margin | 10.33% | 17.9% | 15.87% | 10.75% | 7.07% | 7.45% | 2.94% | 4.72% |
| FCF Conversion (EBITDA) | 59.75% | 118.56% | 98.95% | 74.62% | 42.63% | 39.41% | 16.02% | - |
| FCF Conversion (Net income) | 161.79% | - | 184.24% | 124.89% | 84.07% | 72.41% | - | - |
| Dividend per Share 2 | 0.1429 | 0.0750 | 0.2000 | 0.2000 | 0.2000 | 0.2000 | 0.2000 | 0.2000 |
| Announcement Date | 2/11/20 | 2/10/21 | 2/7/22 | 2/9/23 | 2/8/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 752.4 | 783.1 | 927 | 906.4 | 900.7 | 882.4 | 872 | 837 |
| EBITDA | - | - | - | - | - | 150.4 | - | - |
| EBIT 1 | 64.26 | 97.91 | 132.9 | 87.19 | 52.42 | 103 | 113.3 | 130.4 |
| Operating Margin | 8.54% | 12.5% | 14.34% | 9.62% | 5.82% | 11.67% | 13% | 15.58% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - |
| Net income | 45.2 | 56.59 | - | - | - | - | - | - |
| Net margin | 6.01% | 7.23% | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 2/7/22 | 5/11/22 | 8/2/22 | 11/8/22 | 2/9/23 | 5/11/23 | 8/4/23 | 11/3/23 |
1AED in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,374 | 1,229 | - | 1,301 | 1,422 | 1,348 | 1,473 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.087 x | 3.464 x | - | 2.567 x | 2.477 x | 2.055 x | 2.32 x | - |
| Free Cash Flow 1 | 266 | 421 | 454 | 378 | 245 | 259 | 102 | 171 |
| ROE (net income / shareholders' equity) | 6.67% | 6.45% | 11.3% | 14.4% | 13.2% | 11.9% | 13.3% | 13.6% |
| ROA (Net income/ Total Assets) | 2.99% | 2.74% | 4.77% | 6% | - | - | - | - |
| Assets 1 | 5,492 | -4,727 | 5,172 | 5,046 | - | - | - | - |
| Book Value Per Share | 2.440 | 2.160 | 2.250 | 2.180 | 2.250 | - | - | - |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 176 | 102 | 90.6 | 131 | 262 | 319 | 266 | 200 |
| Capex / Sales | 6.85% | 4.36% | 3.17% | 3.72% | 7.58% | 9.18% | 7.69% | 5.52% |
| Announcement Date | 2/11/20 | 2/10/21 | 2/7/22 | 2/9/23 | 2/8/24 | - | - | - |
1AED in Million
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
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
2.5
AED
Average target price
3.497
AED
Spread / Average Target
+39.87%
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -6.37% | 676M | |
| +20.88% | 43.88B | |
| +5.82% | 32.39B | |
| +33.88% | 19.86B | |
| -3.68% | 19.63B | |
| +4.39% | 15.42B | |
| +4.51% | 9.4B | |
| -7.99% | 8.76B | |
| +38.36% | 7.54B | |
| +4.66% | 7.41B |
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