SAUDI ARAMCO BASE OIL COMPANY - LUBEREF Financials Saudi Aramco Base Oil Company - Luberef
Equities
2223
SA15M1HH2NH5
Oil & Gas Refining and Marketing
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 131.4 SAR | +0.15% |
|
-2.95% | -9.50% |
| 06-28 | Aramco to buy 10% stake in Renault, Geely thermal engines JV | RE |
| 06-28 | Would you like some more inflation? |  |
Valuation
| Fiscal Period: December | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Capitalization 1 | 15,694 | 24,502 | 22,174 | - | - |
| Enterprise Value (EV) 1 | 15,738 | 24,263 | 22,286 | 22,233 | 21,940 |
| P/E ratio | 7.94 x | 16.2 x | 15.7 x | 15.5 x | 13 x |
| Yield | 5.38% | 6.89% | 5.75% | 5.21% | 6.31% |
| Capitalization / Revenue | 1.48 x | 2.58 x | 2.32 x | 2.37 x | 2.33 x |
| EV / Revenue | 1.48 x | 2.56 x | 2.34 x | 2.37 x | 2.3 x |
| EV / EBITDA | 6.27 x | 12.7 x | 13 x | 13.3 x | 11 x |
| EV / FCF | 7.98 x | - | 13 x | 13.4 x | 12.2 x |
| FCF Yield | 12.5% | - | 7.68% | 7.47% | 8.21% |
| Price to Book | 3.09 x | 5.03 x | 4.73 x | 4.53 x | 4.21 x |
| Nbr of stocks (in thousands) | 168,750 | 168,750 | 168,750 | - | - |
| Reference price 2 | 93.00 | 145.2 | 131.4 | 131.4 | 131.4 |
| Announcement Date | 23/02/23 | 28/02/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Net sales 1 | 6,760 | 10,614 | 9,489 | 9,539 | 9,365 | 9,525 |
| EBITDA 1 | - | 2,511 | 1,912 | 1,720 | 1,666 | 1,997 |
| EBIT 1 | - | 2,171 | 1,590 | 1,437 | 1,451 | 1,684 |
| Operating Margin | - | 20.46% | 16.76% | 15.06% | 15.5% | 17.68% |
| Earnings before Tax (EBT) 1 | - | 2,132 | - | 1,548 | 1,663 | 1,740 |
| Net income 1 | 1,503 | 1,978 | 1,510 | 1,487 | 1,594 | 1,670 |
| Net margin | 22.23% | 18.64% | 15.91% | 15.59% | 17.02% | 17.53% |
| EPS 2 | - | 11.72 | 8.980 | 8.374 | 8.464 | 10.09 |
| Free Cash Flow 1 | - | 1,972 | - | 1,711 | 1,660 | 1,802 |
| FCF margin | - | 18.58% | - | 17.94% | 17.73% | 18.92% |
| FCF Conversion (EBITDA) | - | 78.53% | - | 99.47% | 99.62% | 90.25% |
| FCF Conversion (Net income) | - | 99.7% | - | 115.06% | 104.17% | 107.9% |
| Dividend per Share 2 | - | 5.000 | 10.00 | 7.560 | 6.842 | 8.289 |
| Announcement Date | 27/11/22 | 23/02/23 | 28/02/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,797 | 2,613 | 2,549 | 2,530 | 2,185 | 2,466 | 2,347 | 2,247 | 1,915 |
| EBITDA 1 | - | - | - | 353.8 | - | 416.7 | 442.8 | 434.6 | 393.2 |
| EBIT 1 | 473.5 | - | 355.6 | 280.5 | 246.1 | 342.5 | 368 | 359.1 | 312.3 |
| Operating Margin | 26.36% | - | 13.95% | 11.09% | 11.26% | 13.89% | 15.68% | 15.98% | 16.3% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - |
| Net income | 445.7 | 454.9 | 340.4 | - | 239 | - | - | - | - |
| Net margin | 24.8% | 17.41% | 13.35% | - | 10.94% | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | - | - | - | - | - | 4.997 | - | 2.611 | - |
| Announcement Date | 11/05/23 | 02/08/23 | 12/11/23 | 28/02/24 | 05/05/24 | - | - | - | - |
1SAR in Million2SAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | 44.6 | - | 113 | 59.4 | - |
| Net Cash position 1 | - | - | 239 | - | - | 234 |
| Leverage (Debt/EBITDA) | - | 0.0178 x | - | 0.0655 x | 0.0356 x | - |
| Free Cash Flow 1 | - | 1,972 | - | 1,711 | 1,660 | 1,802 |
| ROE (net income / shareholders' equity) | - | 42.4% | 30.3% | 29.7% | 28.8% | 33.2% |
| ROA (Net income/ Total Assets) | - | 23.3% | 17.3% | 17.6% | 18.7% | 20% |
| Assets 1 | - | 8,505 | 8,751 | 8,449 | 8,544 | 8,350 |
| Book Value Per Share 2 | - | 30.10 | 28.90 | 27.80 | 29.00 | 31.20 |
| Cash Flow per Share 2 | - | 12.00 | 13.80 | 9.400 | 9.010 | 12.10 |
| Capex 1 | - | 44.7 | 213 | 265 | 369 | 359 |
| Capex / Sales | - | 0.42% | 2.25% | 2.78% | 3.94% | 3.77% |
| Announcement Date | 27/11/22 | 23/02/23 | 28/02/24 | - | - | - |
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
5
Last Close Price
131.4
SAR
Average target price
151.8
SAR
Spread / Average Target
+15.51%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -9.50% | 5.91B | |
| +21.12% | 248B | |
| +23.72% | 97.91B | |
| +1.94% | 97.25B | |
| +16.93% | 60.92B | |
| +6.03% | 59.1B | |
| +20.58% | 50.37B | |
| +23.58% | 36.96B | |
| +27.55% | 27B | |
| +9.55% | 19.07B |
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