THE COMMERCIAL BANK (P.S.Q.C.) |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4.178 QAR | +1.70% |
|
+1.90% | -32.61% |
| Apr. 25 | Transcript : The Commercial Bank (P.S.Q.C.), Q1 2024 Earnings Call, Apr 25, 2024 | |
| Apr. 23 | The Commercial Bank (P.S.Q.C.) Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 19,022 | 17,808 | 27,315 | 20,236 | 25,093 | 16,909 | - | - |
| Enterprise Value (EV) 1 | 19,022 | 17,808 | 27,315 | 20,236 | 25,093 | 16,909 | 16,909 | 16,909 |
| P/E ratio | 10.7 x | 16.3 x | 13.5 x | 8.06 x | 8.73 x | 6.1 x | 6.12 x | 5.82 x |
| Yield | 4.26% | 2.27% | 2.37% | 5% | 4.03% | 5.67% | 5.93% | 6.55% |
| Capitalization / Revenue | 4.38 x | 4.2 x | 5.36 x | 3.82 x | 4.57 x | 3.01 x | 2.96 x | 2.88 x |
| EV / Revenue | 4.38 x | 4.2 x | 5.36 x | 3.82 x | 4.57 x | 3.01 x | 2.96 x | 2.88 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 0.87 x | 0.8 x | 1.5 x | 1.03 x | 1.03 x | 0.86 x | 0.81 x | 0.76 x |
| Nbr of stocks (in thousands) | 4,047,254 | 4,047,254 | 4,047,254 | 4,047,254 | 4,047,254 | 4,047,254 | - | - |
| Reference price 2 | 4.700 | 4.400 | 6.749 | 5.000 | 6.200 | 4.178 | 4.178 | 4.178 |
| Announcement Date | 1/29/20 | 1/28/21 | 1/20/22 | 1/24/23 | 1/15/24 | - | - | - |
1QAR in Million2QAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,347 | 4,237 | 5,101 | 5,294 | 5,489 | 5,612 | 5,715 | 5,875 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 3,119 | 3,141 | 3,621 | 4,156 | 4,049 | 4,375 | 4,277 | 4,409 |
| Operating Margin | 71.75% | 74.12% | 70.99% | 78.5% | 73.77% | 77.95% | 74.84% | 75.06% |
| Earnings before Tax (EBT) 1 | 2,044 | 1,316 | 2,313 | 2,925 | 3,090 | 2,946 | 3,252 | 3,512 |
| Net income 1 | 2,021 | 1,301 | 2,304 | 2,811 | 3,010 | 3,002 | 2,976 | 3,211 |
| Net margin | 46.5% | 30.71% | 45.18% | 53.1% | 54.84% | 53.48% | 52.07% | 54.66% |
| EPS 2 | 0.4400 | 0.2700 | 0.5000 | 0.6200 | 0.7100 | 0.6851 | 0.6825 | 0.7177 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.2000 | 0.1000 | 0.1600 | 0.2500 | 0.2500 | 0.2370 | 0.2477 | 0.2738 |
| Announcement Date | 1/29/20 | 1/28/21 | 1/20/22 | 1/24/23 | 1/15/24 | - | - | - |
1QAR in Million2QAR
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 | 1,361 | 1,264 | 1,310 | 1,311 | 1,346 | 1,286 | 1,432 | - | 1,325 | 1,267 | 1,329 | 1,384 | 1,392 | 1,397 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 997.3 | 879.7 | 1,033 | - | 1,197 | 1,026 | 1,087 | - | 1,031 | 905 | 1,013 | - | - | - |
| Operating Margin | 73.28% | 69.58% | 78.86% | - | 88.96% | 79.76% | 75.93% | - | 77.82% | 71.43% | 76.2% | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | 666.3 | - | - | - | - |
| Net income | 172.4 | 702.3 | 795.3 | 769 | 609.8 | 751.3 | 803 | 1,554 | 811.1 | 645 | 801.6 | - | - | - |
| Net margin | 12.66% | 55.54% | 60.7% | 58.65% | 45.32% | 58.42% | 56.09% | - | 61.21% | 50.91% | 60.33% | - | - | - |
| EPS | -0.0200 | 0.1700 | 0.2000 | 0.1800 | - | 0.1800 | - | - | - | 0.1500 | - | - | - | - |
| Dividend per Share 2 | 0.1600 | - | - | - | - | - | - | - | - | 0.2500 | - | - | - | 0.2500 |
| Announcement Date | 1/20/22 | 4/20/22 | 7/25/22 | 10/19/22 | 1/24/23 | 4/17/23 | 7/15/23 | 7/15/23 | 10/17/23 | 1/15/24 | 4/23/24 | - | - | - |
1QAR in Million2QAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 9.71% | 5.9% | 12.7% | 11.3% | 12.3% | 14.3% | 12.9% | 13% |
| ROA (Net income/ Total Assets) | 1.43% | 0.9% | 1.44% | 1.7% | 1.8% | 1.6% | 1.55% | 1.63% |
| Assets 1 | 141,233 | 144,579 | 159,574 | 165,359 | 167,222 | 187,594 | 192,000 | 197,585 |
| Book Value Per Share 2 | 5.380 | 5.480 | 4.510 | 4.870 | 6.030 | 4.870 | 5.190 | 5.520 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 1/29/20 | 1/28/21 | 1/20/22 | 1/24/23 | 1/15/24 | - | - | - |
1QAR in Million2QAR
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
OUTPERFORM
Number of Analysts
9
Last Close Price
4.178
QAR
Average target price
5.613
QAR
Spread / Average Target
+34.35%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -32.61% | 4.64B | |
| +26.58% | 207B | |
| +3.72% | 74.34B | |
| +8.53% | 56.68B | |
| +9.19% | 50.01B | |
| +37.50% | 46.82B | |
| +7.21% | 35.83B | |
| -15.43% | 35.46B | |
| -96.60% | 32.24B | |
| +11.80% | 26.4B |
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- Financials The Commercial Bank (P.S.Q.C.)
