DUBAI ISLAMIC BANK |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 5.62 AED | +1.08% |
|
-1.58% | -1.75% |
| 04-24 | Emirati Stocks Close Little Changed As Geopolitical Risks Ease | MT |
| 04-24 | Transcript : Dubai Islamic Bank P.J.S.C., Q1 2024 Earnings Call, Apr 24, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 36,233 | 33,317 | 38,882 | 41,195 | 41,339 | 40,183 | - | - |
| Enterprise Value (EV) 1 | 36,233 | 33,317 | 38,882 | 41,195 | 41,339 | 40,183 | 40,183 | 40,183 |
| P/E ratio | 7.99 x | 12.1 x | 10.2 x | 8.14 x | 6.5 x | 6.89 x | 7.1 x | 6.75 x |
| Yield | 6.35% | 4.34% | 4.65% | - | - | 7.69% | 7.78% | 7.76% |
| Capitalization / Revenue | 3.91 x | 3.52 x | 4.18 x | 3.98 x | 3.61 x | 3.36 x | 3.34 x | 3.2 x |
| EV / Revenue | 3.91 x | 3.52 x | 4.18 x | 3.98 x | 3.61 x | 3.36 x | 3.34 x | 3.2 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 1.13 x | 0.82 x | 1 x | 1 x | 0.93 x | 1.03 x | 0.97 x | 0.92 x |
| Nbr of stocks (in thousands) | 6,575,952 | 7,227,111 | 7,227,111 | 7,227,111 | 7,227,111 | 7,227,111 | - | - |
| Reference price 2 | 5.510 | 4.610 | 5.380 | 5.700 | 5.720 | 5.560 | 5.560 | 5.560 |
| Announcement Date | 12/02/20 | 16/02/21 | 26/01/22 | 25/01/23 | 23/01/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 9,267 | 9,471 | 9,306 | 10,339 | 11,450 | 11,965 | 12,023 | 12,560 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 6,908 | 6,743 | 6,892 | 7,606 | 8,503 | 8,780 | 8,727 | 9,172 |
| Operating Margin | 74.55% | 71.2% | 74.07% | 73.56% | 74.27% | 73.38% | 72.59% | 73.02% |
| Earnings before Tax (EBT) 1 | 5,145 | 3,206 | 4,444 | 5,631 | 7,108 | 7,423 | 7,502 | 7,747 |
| Net income 1 | 5,014 | 3,294 | 4,391 | 5,474 | 6,798 | 6,150 | 5,846 | 6,117 |
| Net margin | 54.11% | 34.78% | 47.19% | 52.95% | 59.37% | 51.4% | 48.62% | 48.7% |
| EPS 2 | 0.6900 | 0.3800 | 0.5300 | 0.7000 | 0.8800 | 0.8072 | 0.7828 | 0.8235 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.3500 | 0.2000 | 0.2500 | - | - | 0.4275 | 0.4326 | 0.4313 |
| Announcement Date | 12/02/20 | 16/02/21 | 26/01/22 | 25/01/23 | 23/01/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 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 | - | 2,273 | 2,420 | 2,562 | 2,585 | 2,772 | 2,713 | 2,794 | 2,929 | 3,014 | 2,889 | 2,903 | 2,949 | 2,973 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | 1,617 | 1,722 | 1,905 | 1,900 | 2,079 | 1,971 | 2,065 | 2,177 | 2,218 | 2,040 | - | - | - |
| Operating Margin | - | 71.13% | 71.16% | 74.35% | 73.49% | 75.01% | 72.65% | 73.91% | 74.32% | 73.58% | 70.61% | - | - | - |
| Earnings before Tax (EBT) 1 | - | 1,343 | - | - | - | - | 1,517 | 1,633 | 1,727 | 2,230 | 1,850 | 1,711 | 1,739 | 1,753 |
| Net income 1 | 1,500 | 1,332 | 1,330 | 1,339 | 1,377 | 1,429 | 1,478 | 1,571 | 1,648 | 2,101 | 1,593 | 1,350 | 1,405 | 1,387 |
| Net margin | - | 58.59% | 54.99% | 52.25% | 53.26% | 51.53% | 54.47% | 56.23% | 56.26% | 69.7% | 55.13% | 46.49% | 47.64% | 46.65% |
| EPS 2 | - | - | - | - | - | - | 0.1900 | 0.2000 | 0.2200 | 0.2700 | 0.2100 | 0.1867 | 0.1943 | 0.1919 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.4000 |
| Announcement Date | 28/07/21 | 26/01/22 | 27/04/22 | 27/07/22 | 25/10/22 | 25/01/23 | 19/04/23 | 26/07/23 | 31/10/23 | 23/01/24 | 23/04/24 | - | - | - |
1AED in Million2AED
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) | 17.1% | 9.08% | 11.1% | 13.7% | 15.8% | 16.3% | 14.8% | 14.6% |
| ROA (Net income/ Total Assets) | 2.25% | 1.26% | 1.54% | 1.93% | 2.26% | 1.97% | 1.87% | 1.8% |
| Assets 1 | 222,862 | 260,670 | 284,319 | 283,662 | 301,262 | 312,694 | 312,616 | 340,472 |
| Book Value Per Share 2 | 4.870 | 5.610 | 5.380 | 5.720 | 6.170 | 5.420 | 5.730 | 6.040 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 12/02/20 | 16/02/21 | 26/01/22 | 25/01/23 | 23/01/24 | - | - | - |
1AED in Million2AED
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
C-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
5.56
AED
Average target price
6.91
AED
Spread / Average Target
+24.28%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.75% | 10.94B | |
| +12.96% | 208B | |
| +4.26% | 74.48B | |
| +8.91% | 54.78B | |
| +3.95% | 48.35B | |
| +14.07% | 47B | |
| +21.47% | 45.25B | |
| +10.41% | 36.35B | |
| -16.09% | 35.27B | |
| -96.60% | 32.25B |
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- Financials Dubai Islamic Bank
