UNITED ELECTRONICS COMPANY |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 99.3 SAR | +1.53% |
|
+3.01% | +10.70% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,595 | 4,982 | 7,799 | 5,308 | 6,744 | 7,758 | - | - |
| Enterprise Value (EV) 1 | 4,447 | 5,674 | 8,312 | 6,341 | 7,946 | 8,893 | 8,455 | 8,312 |
| P/E ratio | 18.2 x | 18.5 x | 20.5 x | 12.6 x | 18.4 x | 17.9 x | 15.1 x | 12.3 x |
| Yield | 1.34% | 3.47% | 3.32% | - | - | 3.99% | 4.59% | 5.6% |
| Capitalization / Revenue | 0.7 x | 0.84 x | 1.34 x | 0.88 x | 1.09 x | 1.18 x | 1.1 x | 1.02 x |
| EV / Revenue | 0.87 x | 0.95 x | 1.42 x | 1.05 x | 1.28 x | 1.35 x | 1.2 x | 1.09 x |
| EV / EBITDA | 14.8 x | 14 x | 15.6 x | 11.7 x | 14.6 x | 13.2 x | 11 x | 9.37 x |
| EV / FCF | -511 x | 17.8 x | -153 x | -39.6 x | 52.2 x | 23.8 x | 16.5 x | 14.2 x |
| FCF Yield | -0.2% | 5.62% | -0.65% | -2.52% | 1.92% | 4.21% | 6.08% | 7.04% |
| Price to Book | 5.45 x | 6.28 x | 8.18 x | 4.56 x | 5.32 x | 5.64 x | 4.97 x | 4.04 x |
| Nbr of stocks (in thousands) | 73,728 | 73,728 | 73,728 | 76,823 | 75,184 | 76,206 | - | - |
| Reference price 2 | 48.76 | 67.58 | 105.8 | 69.10 | 89.70 | 101.8 | 101.8 | 101.8 |
| Announcement Date | 1/19/20 | 2/25/21 | 2/21/22 | 2/20/23 | 2/19/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,135 | 5,962 | 5,834 | 6,031 | 6,201 | 6,594 | 7,068 | 7,612 |
| EBITDA 1 | 299.8 | 405.2 | 532.9 | 544.2 | 545.1 | 675.7 | 770.9 | 887.2 |
| EBIT 1 | 248.7 | 349.1 | 478.3 | 484.1 | 480.6 | 569.7 | 655.4 | 764.1 |
| Operating Margin | 4.84% | 5.86% | 8.2% | 8.03% | 7.75% | 8.64% | 9.27% | 10.04% |
| Earnings before Tax (EBT) 1 | 219.1 | 297.8 | 427.4 | 472.1 | 419.2 | 491.8 | 574.5 | 683.8 |
| Net income 1 | 205.8 | 280.1 | 396.8 | 440.2 | 390.5 | 455.7 | 523.8 | 634.9 |
| Net margin | 4.01% | 4.7% | 6.8% | 7.3% | 6.3% | 6.91% | 7.41% | 8.34% |
| EPS 2 | 2.676 | 3.648 | 5.164 | 5.500 | 4.880 | 5.699 | 6.761 | 8.250 |
| Free Cash Flow 1 | -8.704 | 318.7 | -54.24 | -160 | 152.4 | 374.2 | 513.9 | 585.3 |
| FCF margin | -0.17% | 5.34% | -0.93% | -2.65% | 2.46% | 5.68% | 7.27% | 7.69% |
| FCF Conversion (EBITDA) | - | 78.65% | - | - | 27.95% | 55.38% | 66.66% | 65.97% |
| FCF Conversion (Net income) | - | 113.76% | - | - | 39.02% | 82.12% | 98.1% | 92.19% |
| Dividend per Share 2 | 0.6510 | 2.344 | 3.516 | - | - | 4.058 | 4.674 | 5.702 |
| Announcement Date | 1/19/20 | 2/25/21 | 2/21/22 | 2/20/23 | 2/19/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,373 | 1,767 | 1,412 | 1,700 | 1,373 | 1,546 | 1,438 | 1,739 | 1,452 | 1,560 | 1,580 | 1,852 | 1,538 | 1,647 |
| EBITDA | - | - | - | 146.5 | - | - | - | 140.6 | - | 149.6 | - | - | - | - |
| EBIT 1 | 102.2 | 150.9 | 117.2 | 131.5 | 102.9 | 143.4 | 107.9 | 124.8 | 142.6 | 132.7 | 118.6 | 157.4 | 153.8 | 139.5 |
| Operating Margin | 7.45% | 8.54% | 8.3% | 7.73% | 7.49% | 9.28% | 7.5% | 7.18% | 9.82% | 8.51% | 7.51% | 8.5% | 10% | 8.47% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 89.1 | 126.1 | 97.51 | 127.1 | 94.2 | 121.4 | 84.4 | 61.6 | 118.3 | 126.1 | 93.86 | - | - | - |
| Net margin | 6.49% | 7.14% | 6.91% | 7.48% | 6.86% | 7.85% | 5.87% | 3.54% | 8.14% | 8.08% | 5.94% | - | - | - |
| EPS 2 | - | - | - | 1.656 | - | - | - | 0.7700 | 1.480 | 1.580 | 1.170 | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/11/21 | 2/21/22 | 5/9/22 | 8/14/22 | 10/10/22 | 2/20/23 | 4/13/23 | 7/10/23 | 10/30/23 | 2/19/24 | 4/16/24 | - | - | - |
1SAR in Million2SAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 851 | 691 | 513 | 1,032 | 1,202 | 1,135 | 698 | 554 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.84 x | 1.706 x | 0.9619 x | 1.897 x | 2.205 x | 1.68 x | 0.9051 x | 0.6245 x |
| Free Cash Flow 1 | -8.7 | 319 | -54.2 | -160 | 152 | 374 | 514 | 585 |
| ROE (net income / shareholders' equity) | 31.5% | 37.7% | 43.6% | 41.3% | 32.2% | 33% | 34.3% | 34.6% |
| ROA (Net income/ Total Assets) | 8.94% | 10.1% | 12.1% | 11.6% | 9.28% | 11% | 10.2% | 11.3% |
| Assets 1 | 2,303 | 2,782 | 3,289 | 3,809 | 4,206 | 4,144 | 5,128 | 5,635 |
| Book Value Per Share 2 | 8.950 | 10.80 | 12.90 | 15.20 | 16.90 | 18.00 | 20.50 | 25.20 |
| Cash Flow per Share 2 | 0.9400 | 4.500 | -0.2200 | -0.8500 | 2.450 | 11.60 | 9.650 | 10.00 |
| Capex 1 | 78.2 | 26.8 | 37.2 | 91.8 | 43.8 | 74.8 | 73.2 | 83.2 |
| Capex / Sales | 1.52% | 0.45% | 0.64% | 1.52% | 0.71% | 1.13% | 1.04% | 1.09% |
| Announcement Date | 1/19/20 | 2/25/21 | 2/21/22 | 2/20/23 | 2/19/24 | - | - | - |
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
OUTPERFORM
Number of Analysts
10
Last Close Price
101.8
SAR
Average target price
102.2
SAR
Spread / Average Target
+0.36%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +10.70% | 2.01B | |
| -7.46% | 15.58B | |
| +13.01% | 4.26B | |
| +28.27% | 3.17B | |
| +12.13% | 1.64B | |
| +35.19% | 1.18B | |
| +5.42% | 1.15B | |
| -13.17% | 1.12B | |
| +3.63% | 1.03B | |
| +4.84% | 968M |
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- Financials United Electronics Company
