Financials Warba Bank K.S.C.P.

Equities

WARBABANK

KW0EQB010944

Banks

End-of-day quote Kuwait S.E. 23:00:00 08/05/2024 BST 5-day change 1st Jan Change
0.18 KWD +0.56% Intraday chart for Warba Bank K.S.C.P. +2.04% +2.56%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 412.5 371.7 548 470 383.2 393 - -
Enterprise Value (EV) 1 412.5 371.7 548 470 383.2 393 393 393
P/E ratio - - - 31.8 x 23.1 x 21.2 x 15.9 x 11.2 x
Yield - - - - - - - -
Capitalization / Revenue 6.91 x 4.72 x 5.1 x 5.93 x 5.99 x 5.66 x 4.85 x 4.18 x
EV / Revenue 6.91 x 4.72 x 5.1 x 5.93 x 5.99 x 5.66 x 4.85 x 4.18 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.4 x 1.31 x 1.86 x 1.64 x 1.26 x 1.27 x 1.19 x 1.12 x
Nbr of stocks (in thousands) 1,719,585 1,719,585 2,183,600 2,183,600 2,183,600 2,183,600 - -
Reference price 2 0.2399 0.2162 0.2510 0.2152 0.1755 0.1800 0.1800 0.1800
Announcement Date 20/02/20 23/02/21 15/02/22 02/02/23 13/02/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 59.69 78.79 107.4 79.2 63.99 69.5 81.1 94
EBITDA - - - - - - - -
EBIT 1 37.29 52.57 76.54 44.12 23.05 27.8 37.7 48.7
Operating Margin 62.46% 66.71% 71.3% 55.71% 36.02% 40% 46.49% 51.81%
Earnings before Tax (EBT) 1 - - - 20.27 20.67 20 29 40
Net income 1 - - 15.96 19.29 16.59 19.3 25.7 34.8
Net margin - - 14.87% 24.35% 25.92% 27.77% 31.69% 37.02%
EPS 2 - - - 0.006760 0.007590 0.008490 0.0113 0.0160
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share - - - - - - - -
Announcement Date 20/02/20 23/02/21 15/02/22 02/02/23 13/02/24 - - -
1KWD in Million2KWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 40.61 20.31 20.9 20.76 17.23 15.12 17.75 16.8 14.32
EBITDA - - - - - - - - -
EBIT 1 31.34 12.34 12.66 11.96 7.169 6.671 8.408 6.048 1.919
Operating Margin 77.16% 60.74% 60.56% 57.61% 41.61% 44.13% 47.38% 36% 13.4%
Earnings before Tax (EBT) - - - - - - - - -
Net income 1 - 6.751 5.125 3.763 3.649 4.293 5.962 4.069 3.802
Net margin - 33.24% 24.52% 18.13% 21.18% 28.4% 33.59% 24.22% 26.54%
EPS - - - - - - - - -
Dividend per Share - - - - - - - - -
Announcement Date 15/02/22 05/05/22 28/07/22 23/10/22 02/02/23 08/05/23 31/07/23 22/10/23 13/02/24
1KWD in Million
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) 5.85% 2% 4.59% 6.64% 6.68% 5.8% 7% 9.2%
ROA (Net income/ Total Assets) 0.62% 0.2% 0.45% 0.5% 0.44% 0.3% 0.4% 0.5%
Assets 1 - - 3,528 3,890 3,809 6,433 6,425 6,960
Book Value Per Share 2 0.1700 0.1600 0.1300 0.1300 0.1400 0.1400 0.1500 0.1600
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 20/02/20 23/02/21 15/02/22 02/02/23 13/02/24 - - -
1KWD in Million2KWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
2
Last Close Price
0.18 KWD
Average target price
0.1557 KWD
Spread / Average Target
-13.52%
Consensus

Quarterly revenue - Rate of surprise

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