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
Market Cap 1 7,543 7,878 10,661 12,170 16,897 18,425 -
Change - 4.44% 35.32% 14.15% 38.84% 9.05% -
Enterprise Value (EV) 7,543 7,878 10,661 12,170 16,897 18,425 18,425
Change - 4.44% 35.32% 14.15% 38.84% 9.05% 0%
P/E 10x 6.71x 5.96x 5.87x 6.51x 6.46x 8.72x
PBR 0.9x 0.88x 0.86x 1.03x 1.15x 1.16x 1.32x
PEG - 0.1x 0.1x 0.4x 0.3x 0.65x -0.3x
Capitalization / Revenue 2.33x 2.28x 2.42x 2.58x 3.27x 3.03x 3.41x
EV / Revenue 0x 0x 0x 0x 0x 3.03x 3.41x
EV / EBITDA - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.57x 5.27x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 0.1875 0.2833 0.31 0.5 0.63 0.706 0.52
Rate of return 5% 7.23% 5.85% 8.26% 7.5% 7.71% 5.68%
EPS 2 0.375 0.5833 0.89 1.03 1.29 1.418 1.05
Distribution rate 50% 48.6% 34.8% 48.5% 48.8% 49.8% 49.5%
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 4,034 3,493
Net income 1 756.1 1,171 1,784 2,076 2,609 2,853 2,106
Net Debt - - - - - - -
Reference price 2 3.750 3.917 5.300 6.050 8.400 9.160 9.160
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 1/2/22 13/2/23 29/1/24 23/1/25 27/1/26 - -
1AED in Million2AED
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.45x - - 7.72% 5.01B
13.89x - - 1.8% 933B
13.2x - - 1.92% 433B
6.39x - - 4.85% 409B
13.21x - - 3.93% 366B
6.12x - - 4.98% 321B
18.53x - - 2.3% 292B
6.35x - - 4.95% 276B
11.74x - - 2.23% 258B
14.36x - - 2.75% 249B
Average 11.02x 3.74% 354.22B
Weighted average by Cap. 11.82x 3.07%

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