Company Valuation: National Industrialization Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 13,352 8,268 8,281 6,796 6,144 5,852 - -
Change - -38.08% 0.16% -17.93% -9.6% -4.75% - -
Enterprise Value (EV) 1 16,763 10,513 10,233 10,876 9,650 9,605 9,916 10,087
Change - -37.28% -2.67% 6.28% -11.27% -0.47% 3.24% 1.72%
P/E 9.83x 12.4x 47.6x 67.7x -3.49x -41.4x 38.6x 24.5x
PBR 1.53x 0.86x 0.86x 0.7x 0.79x 0.76x 0.76x 0.73x
PEG - -0.2x -0.6x -1.6x 0x 0.5x -0x 0.4x
Capitalization / Revenue 3.63x 2.13x 2.32x 1.74x 1.84x 2.16x 2.07x 2.02x
EV / Revenue 4.56x 2.71x 2.87x 2.79x 2.88x 3.55x 3.51x 3.48x
EV / EBITDA 6.06x 6.86x 16x 42.1x -13.1x 26.8x 14.4x 12.6x
EV / EBIT 6.66x 7.96x 24.7x -491x -8.29x -22,327x 32x 19.6x
EV / FCF 20.6x 15.9x 114x -46x -17.7x 137x 885x 114x
FCF Yield 4.85% 6.28% 0.87% -2.18% -5.64% 0.73% 0.11% 0.88%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 2.03 1 0.26 0.15 -2.64 -0.2116 0.2272 0.3576
Distribution rate - - - - - - - -
Net sales 1 3,673 3,883 3,567 3,901 3,347 2,707 2,826 2,900
EBITDA 1 2,766 1,533 639.6 258.4 -734.4 357.7 686.5 801.7
EBIT 1 2,515 1,321 413.9 -22.16 -1,164 -0.4302 310 515.8
Net income 1 1,356 666.3 174.6 102.8 -1,765 -367 175 376
Net Debt 1 3,412 2,245 1,952 4,079 3,506 3,753 4,064 4,235
Reference price 2 19.960 12.360 12.380 10.160 9.220 8.760 8.760 8.760
Nbr of stocks (in thousands) 668,914 668,914 668,914 668,914 666,372 664,228 - -
Announcement Date 3/14/22 3/6/23 3/4/24 3/22/25 3/15/26 - - -
1SAR in Million2SAR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-41.3x3.53x26.72x - 1.55B
26.89x4.17x13.38x2.17% 122B
15.87x5.3x26.37x4.18% 55.92B
63.91x1.31x9.32x6.04% 38.37B
11.52x1.19x6.47x2.94% 33.03B
9.95x3.22x7.56x4.36% 26.09B
8.88x0.88x5.41x4.25% 20.97B
15.79x0.77x5.71x1.95% 18.6B
66.95x12.12x44.16x0.07% 17.83B
9.69x1x7.66x4.41% 17.35B
Average 18.81x 3.35x 15.28x 3.37% 35.19B
Weighted average by Cap. 25.70x 3.55x 14.38x 3.27%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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