Financials Commercial Bank of Kuwait K.P.S.C.

Equities

CBK

KW0EQ0100036

Banks

End-of-day quote Kuwait S.E. 18:00:00 2024-05-13 EDT 5-day change 1st Jan Change
0.5 KWD +0.40% Intraday chart for Commercial Bank of Kuwait K.P.S.C. -0.20% -3.85%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 899.4 1,029 961.6 992.4 946 932.3
Enterprise Value (EV) 1 1,177 1,087 1,016 1,089 1,093 1,272
P/E ratio 14.1 x - - 18 x 13.4 x 8.68 x
Yield 4.01% - - 3.99% 5% 7.12%
Capitalization / Revenue 8.06 x 20.5 x 25.1 x 9.85 x 8.29 x 5.48 x
EV / Revenue 10.6 x 21.6 x 26.6 x 10.8 x 9.58 x 7.48 x
EV / EBITDA - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Price to Book 1.23 x 1.41 x 1.39 x 1.21 x 1.43 x 1.41 x
Nbr of stocks (in thousands) 2,038,024 2,002,828 1,980,919 1,980,918 1,891,916 1,792,923
Reference price 2 0.4413 0.5136 0.4854 0.5010 0.5000 0.5200
Announcement Date 2/14/19 2/19/20 2/8/21 3/15/22 3/20/23 3/14/24
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 111.5 50.22 38.24 100.7 114.1 170
EBITDA - - - - - -
EBIT - - - - - -
Operating Margin - - - - - -
Earnings before Tax (EBT) 1 66.67 0.06 0.065 57.16 76.98 116.4
Net income 1 63.75 - - 54.64 73.58 111.2
Net margin 57.16% - - 54.25% 64.51% 65.37%
EPS 2 0.0313 - - 0.0278 0.0372 0.0599
Free Cash Flow - - - - - -
FCF margin - - - - - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 0.0177 - - 0.0200 0.0250 0.0370
Announcement Date 2/14/19 2/19/20 2/8/21 3/15/22 3/20/23 3/14/24
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
Net sales 1 29.54 30.08 35.18 36.76 37.85 40.34 42.87 43.17
EBITDA - - - - - - - -
EBIT 1 15.17 19.93 22.85 25.02 34.96 27.18 29.95 29.31
Operating Margin 51.35% 66.26% 64.96% 68.08% 92.37% 67.38% 69.86% 67.88%
Earnings before Tax (EBT) - - - - - - - -
Net income 1 13.84 22.23 21.72 -2.473 32.11 25.08 44.12 29.95
Net margin 46.85% 73.9% 61.75% -6.73% 84.83% 62.16% 102.91% 69.37%
EPS - - - - - - - -
Dividend per Share - - - - - - - -
Announcement Date 3/15/22 5/9/22 8/7/22 11/17/22 3/20/23 5/8/23 8/6/23 10/24/23
1KWD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 278 58 54.6 96.9 147 339
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - - - - - -
ROE (net income / shareholders' equity) 9.21% 0.01% 0.01% 7.23% 9.94% 16.8%
ROA (Net income/ Total Assets) 1.44% 0% 0% 1.26% 1.71% 2.62%
Assets 1 4,430 - - 4,332 4,298 4,242
Book Value Per Share 2 0.3600 0.3700 0.3500 0.4100 0.3500 0.3700
Cash Flow per Share 2 0.3600 0.3600 0.3000 0.2900 0.3100 0.3000
Capex 1 0.33 0.66 0.55 0.42 0.3 0.57
Capex / Sales 0.3% 1.32% 1.43% 0.41% 0.26% 0.33%
Announcement Date 2/14/19 2/19/20 2/8/21 3/15/22 3/20/23 3/14/24
1KWD in Million2KWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
-
Number of Analysts
0
Last Close Price
0.5
Average target price
-
Consensus

Quarterly revenue - Rate of surprise

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