Company Valuation: The National Bank of Ras Al-Khaimah

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,543 7,878 10,661 12,170 16,897 18,908 - -
Change - 4.44% 35.32% 14.15% 38.84% 11.9% - -
Enterprise Value (EV) 7,543 7,878 10,661 12,170 16,897 18,908 18,908 18,908
Change - 4.44% 35.32% 14.15% 38.84% 11.9% 0% 0%
P/E 10x 6.71x 5.96x 5.87x 6.51x 6.62x 7.32x 5.84x
PBR 0.9x 0.88x 0.86x 1.03x 1.15x 1.27x 1.21x -
PEG - 0.1x 0.1x 0.4x 0.3x 0.7x -0.77x 0.2x
Capitalization / Revenue 2.33x 2.28x 2.42x 2.58x 3.27x 3.11x 3.5x -
EV / Revenue 0x 0x 0x 0x 0x 3.11x 3.5x -
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 6.01x 5.5x -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.1875 0.2833 0.31 0.5 0.63 0.6453 0.66 -
Rate of return 5% 7.23% 5.85% 8.26% 7.5% 6.87% 7.02% -
EPS 2 0.375 0.5833 0.89 1.03 1.29 1.42 1.285 1.61
Distribution rate 50% 48.6% 34.8% 48.5% 48.8% 45.4% 51.4% -
Net sales 1 3,230 3,452 4,404 4,713 5,168 6,076 5,406 -
EBITDA - - - - - - - -
EBIT 1 1,835 1,967 2,803 3,054 3,316 3,148 3,436 -
Net income 1 756.1 1,171 1,784 2,076 2,609 2,855 2,584 3,232
Net Debt - - - - - - - -
Reference price 2 3.750 3.917 5.300 6.050 8.400 9.400 9.400 9.400
Nbr of stocks (in thousands) 2,011,494 2,011,494 2,011,494 2,011,495 2,011,495 2,011,495 - -
Announcement Date 01/02/22 13/02/23 29/01/24 23/01/25 27/01/26 - - -
1AED in Million2AED
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.62x - - 6.87% 5.15B
14.11x - - 1.77% 948B
13.34x - - 1.91% 437B
6.22x - - 4.98% 400B
12.65x - - 4.13% 355B
5.97x - - 5.11% 315B
18.01x - - 2.39% 288B
6.32x - - 4.98% 277B
11.61x - - 2.25% 256B
14.21x - - 2.79% 249B
Average 10.91x 3.72% 353B
Weighted average by Cap. 11.77x 3.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation The National Bank of Ras Al-Khaimah