Financials Warba Insurance and Reinsurance Company (K.S.C.P.)

Equities

WINSRE

KW0EQ0300446

Multiline Insurance & Brokers

End-of-day quote Kuwait S.E. 23:00:00 27/04/2024 BST 5-day change 1st Jan Change
0.129 KWD +0.78% Intraday chart for Warba Insurance and Reinsurance Company (K.S.C.P.) -0.77% +28.10%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 10.7 10.05 13.96 27.37 20.73 24
Enterprise Value (EV) 1 9.108 9.635 10.22 23.92 17.87 22.62
P/E ratio 13.7 x 8.59 x 7.66 x 11.5 x 6.65 x 3.42 x
Yield - 12.1% 9.44% 6.3% 6.6% 9.93%
Capitalization / Revenue 0.62 x 0.53 x 0.73 x 1.26 x 0.86 x 0.51 x
EV / Revenue 0.53 x 0.51 x 0.53 x 1.1 x 0.74 x 0.49 x
EV / EBITDA 10.6 x 7.28 x 4.18 x 9.59 x 5.32 x 3.15 x
EV / FCF 3.38 x 2.83 x 5.96 x 6.69 x -33.4 x -17.7 x
FCF Yield 29.5% 35.4% 16.8% 14.9% -2.99% -5.66%
Price to Book 0.3 x 0.26 x 0.38 x 0.67 x 0.53 x 0.66 x
Nbr of stocks (in thousands) 243,908 243,908 243,908 242,991 239,812 238,307
Reference price 2 0.0439 0.0412 0.0572 0.1126 0.0864 0.1007
Announcement Date 19/03/19 19/03/20 22/02/21 22/02/22 20/02/23 11/03/24
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 17.16 18.83 19.18 21.71 24.04 46.62
EBITDA 1 0.8626 1.323 2.444 2.494 3.362 7.176
EBIT 1 0.5912 1.11 2.262 2.28 3.151 6.944
Operating Margin 3.45% 5.9% 11.79% 10.5% 13.11% 14.9%
Earnings before Tax (EBT) 1 0.6081 1.14 1.826 2.35 3.153 7.153
Net income 1 0.7815 1.17 1.822 2.343 3.114 7.09
Net margin 4.55% 6.22% 9.5% 10.79% 12.96% 15.21%
EPS 2 0.003204 0.004798 0.007470 0.009755 0.0130 0.0294
Free Cash Flow 1 2.691 3.41 1.715 3.575 -0.5349 -1.28
FCF margin 15.68% 18.11% 8.94% 16.46% -2.23% -2.74%
FCF Conversion (EBITDA) 311.94% 257.68% 70.16% 143.32% - -
FCF Conversion (Net income) 344.32% 291.37% 94.1% 152.56% - -
Dividend per Share - 0.005000 0.005400 0.007100 0.005700 0.0100
Announcement Date 19/03/19 19/03/20 22/02/21 22/02/22 20/02/23 11/03/24
1KWD in Million2KWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 1.59 0.41 3.73 3.45 2.85 1.37
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 2.69 3.41 1.71 3.57 -0.53 -1.28
ROE (net income / shareholders' equity) 1.74% 3.05% 4.82% 5.97% 7.85% 19.4%
ROA (Net income/ Total Assets) 0.38% 0.61% 1.18% 1.17% 1.77% 4.83%
Assets 1 205.8 191.4 154.4 200.3 175.7 146.9
Book Value Per Share 2 0.1500 0.1600 0.1500 0.1700 0.1600 0.1500
Cash Flow per Share 2 0.0100 0 0.0200 0.0300 0.0300 0.0200
Capex 1 0.01 0.14 0.19 0.14 0.28 0.1
Capex / Sales 0.04% 0.72% 0.98% 0.65% 1.17% 0.21%
Announcement Date 19/03/19 19/03/20 22/02/21 22/02/22 20/02/23 11/03/24
1KWD in Million2KWD
Estimates
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