Stock NRE NATIONAL REAL ESTATE COMPANY - K.P.S.C.
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Financials National Real Estate Company - K.P.S.C.

Equities

NRE

KW0EQ0400634

Real Estate Development & Operations

End-of-day quote Kuwait S.E.
Other stock markets
 18:00:00 2024-04-24 EDT 		5-day change 1st Jan Change
0.096 KWD 0.00% Intraday chart for National Real Estate Company - K.P.S.C. -5.88% +45.23%
03-31 National Real Estate Company - K.P.S.C. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 National Real Estate Company - K.P.S.C. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 118.6 131 113.5 343.4 232.3 124.3
Enterprise Value (EV) 1 225.9 230.6 212.4 442.3 332.2 228.6
P/E ratio 11 x 10.9 x 244 x 1.64 x 12.3 x -3.35 x
Yield - - - - - -
Capitalization / Revenue 2.71 x 5.18 x 3.73 x 1.3 x 5.34 x -19.4 x
EV / Revenue 5.16 x 9.11 x 6.99 x 1.67 x 7.64 x -35.6 x
EV / EBITDA 9.25 x 21.5 x 14 x 1.97 x 16.7 x -9.03 x
EV / FCF 6.46 x 34 x 21.2 x 2.84 x 15.3 x -18.7 x
FCF Yield 15.5% 2.94% 4.71% 35.2% 6.52% -5.34%
Price to Book 0.46 x 0.48 x 0.41 x 0.76 x 0.65 x 0.36 x
Nbr of stocks (in thousands) 1,896,343 1,896,340 1,896,340 1,864,878 1,858,174 1,880,242
Reference price 2 0.0625 0.0691 0.0598 0.1842 0.1250 0.0661
Announcement Date 19-03-17 20-03-15 21-04-07 22-04-03 23-04-02 24-03-31
1KWD in Million2KWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 43.78 25.3 30.39 265 43.48 -6.422
EBITDA 1 24.41 10.72 15.18 224.7 19.93 -25.32
EBIT 1 18.41 10.61 15.06 224.6 19.83 -25.41
Operating Margin 42.05% 41.93% 49.56% 84.76% 45.6% 395.59%
Earnings before Tax (EBT) 1 10.29 10.88 0.0845 196.3 19.08 -33.98
Net income 1 10.82 11.44 0.4431 199.6 17.94 -35.18
Net margin 24.71% 45.19% 1.46% 75.34% 41.25% 547.82%
EPS 2 0.005704 0.006344 0.000245 0.1121 0.0101 -0.0197
Free Cash Flow 1 34.97 6.774 10.01 155.5 21.66 -12.21
FCF margin 79.88% 26.77% 32.94% 58.69% 49.8% 190.13%
FCF Conversion (EBITDA) 143.24% 63.17% 65.98% 69.21% 108.68% -
FCF Conversion (Net income) 323.22% 59.24% 2,259.69% 77.9% 120.73% -
Dividend per Share - - - - - -
Announcement Date 19-03-17 20-03-15 21-04-07 22-04-03 23-04-02 24-03-31
1KWD in Million2KWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 107 99.6 98.9 98.9 100 104
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.396 x 9.288 x 6.519 x 0.4401 x 5.017 x -4.118 x
Free Cash Flow 1 35 6.77 10 156 21.7 -12.2
ROE (net income / shareholders' equity) 3.76% 4.08% 0.12% 53.1% 4.52% -9.75%
ROA (Net income/ Total Assets) 2.33% 1.38% 1.93% 24.5% 2.08% -2.96%
Assets 1 464.1 828.4 22.92 814.4 863.4 1,188
Book Value Per Share 2 0.1400 0.1400 0.1400 0.2400 0.1900 0.1800
Cash Flow per Share 2 0 0.0100 0.0100 0.0100 0.0100 0.0100
Capex - - - - - -
Capex / Sales - - - - - -
Announcement Date 19-03-17 20-03-15 21-04-07 22-04-03 23-04-02 24-03-31
1KWD in Million2KWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Real Estate Development & Operations

1st Jan change Capi.
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