Impressive Earnings May Not Tell The Whole Story For Arabian Centres (TADAWUL:4321)
Apr 11
Saudi Arabian (Tadawul) Real Estate Industry Analysis
UpdatedMay 19, 2024
DataAggregated Company Financials
Companies17
- 7D-6.1%
- 3M2.7%
- 1Y10.8%
- YTD13.0%
Over the last 7 days, the Real Estate industry has dropped 6.1%, driven by declines in Makkah Construction and Development and Jabal Omar Development of 15% and 8.1%, respectively. In the past year, the industry has gained 11%. Looking forward, earnings are expected to remain mostly flat in the next few years.
Industry Valuation and Performance
Has the Saudi Arabian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 20 May 2024 | ر.س121.8b | ر.س15.5b | ر.س3.2b | 28.6x | 37.9x | 7.8x |
| Wed, 17 Apr 2024 | ر.س131.9b | ر.س15.3b | ر.س3.1b | 25x | 41.9x | 8.6x |
| Fri, 15 Mar 2024 | ر.س127.5b | ر.س14.2b | ر.س2.6b | 31.6x | 48.4x | 9x |
| Sun, 11 Feb 2024 | ر.س109.0b | ر.س14.2b | ر.س2.6b | 26.4x | 42.3x | 7.7x |
| Tue, 09 Jan 2024 | ر.س107.6b | ر.س14.1b | ر.س2.6b | 26.7x | 42.1x | 7.6x |
| Thu, 07 Dec 2023 | ر.س102.9b | ر.س14.1b | ر.س2.6b | 23.4x | 40.3x | 7.3x |
| Sat, 04 Nov 2023 | ر.س97.4b | ر.س14.2b | ر.س1.9b | 23.4x | 50.5x | 6.8x |
| Mon, 02 Oct 2023 | ر.س104.8b | ر.س14.2b | ر.س2.0b | 24.4x | 53.5x | 7.4x |
| Wed, 30 Aug 2023 | ر.س111.5b | ر.س14.0b | ر.س1.9b | 24.8x | 59.4x | 7.9x |
| Fri, 28 Jul 2023 | ر.س114.3b | ر.س13.4b | ر.س1.4b | 25.8x | 84.4x | 8.6x |
| Sun, 25 Jun 2023 | ر.س110.7b | ر.س13.4b | ر.س1.4b | 24.8x | 81.7x | 8.3x |
| Tue, 23 May 2023 | ر.س106.9b | ر.س13.0b | ر.س297.1m | 24.3x | 359.7x | 8.2x |
| Thu, 20 Apr 2023 | ر.س107.6b | ر.س13.0b | ر.س297.1m | 23.9x | 362.2x | 8.3x |
| Sat, 18 Mar 2023 | ر.س93.0b | ر.س12.6b | ر.س1.8b | 22.2x | 50.4x | 7.4x |
| Mon, 13 Feb 2023 | ر.س94.4b | ر.س12.7b | ر.س1.9b | 23.6x | 48.9x | 7.4x |
| Wed, 11 Jan 2023 | ر.س91.5b | ر.س12.7b | ر.س1.9b | 23.2x | 47.4x | 7.2x |
| Fri, 09 Dec 2022 | ر.س90.7b | ر.س12.7b | ر.س1.9b | 23.3x | 47x | 7.2x |
| Sun, 06 Nov 2022 | ر.س97.2b | ر.س11.8b | ر.س1.2b | 27.3x | 81.3x | 8.2x |
| Tue, 04 Oct 2022 | ر.س104.2b | ر.س11.8b | ر.س1.2b | 29x | 86.8x | 8.8x |
| Thu, 01 Sep 2022 | ر.س100.7b | ر.س11.6b | ر.س1.2b | 26.1x | 85.8x | 8.7x |
| Sat, 30 Jul 2022 | ر.س99.1b | ر.س10.8b | ر.س1.7b | 23.7x | 60x | 9.1x |
| Mon, 27 Jun 2022 | ر.س99.3b | ر.س10.7b | ر.س1.6b | 26.7x | 60.2x | 9.3x |
| Wed, 25 May 2022 | ر.س97.8b | ر.س8.7b | ر.س1.2b | 28.9x | 78.9x | 11.3x |
| Fri, 22 Apr 2022 | ر.س106.3b | ر.س7.6b | ر.س989.6m | 29x | 107.4x | 14x |
| Sun, 20 Mar 2022 | ر.س102.4b | ر.س6.8b | -ر.س1,308,074,898.00 | 30.5x | -78.3x | 15.1x |
| Tue, 15 Feb 2022 | ر.س98.6b | ر.س6.8b | -ر.س1,181,900,096.00 | 28.3x | -83.4x | 14.6x |
| Thu, 13 Jan 2022 | ر.س101.0b | ر.س6.8b | -ر.س1,181,900,096.00 | 28.6x | -85.4x | 15x |
| Sat, 11 Dec 2021 | ر.س100.7b | ر.س6.8b | -ر.س1,181,900,096.00 | 27.1x | -85.2x | 14.9x |
| Mon, 08 Nov 2021 | ر.س106.9b | ر.س6.5b | -ر.س1,203,597,796.00 | n/a | -88.8x | 16.5x |
| Wed, 06 Oct 2021 | ر.س106.0b | ر.س6.4b | -ر.س1,294,509,506.00 | 28x | -81.9x | 16.6x |
| Fri, 03 Sep 2021 | ر.س106.8b | ر.س6.4b | -ر.س1,288,436,628.00 | 36.7x | -82.9x | 16.6x |
| Sun, 01 Aug 2021 | ر.س109.2b | ر.س6.4b | -ر.س1,294,509,506.00 | 30.3x | -84.3x | 17x |
Price to Earnings Ratio
-51x
Current Industry PE
- Investors are relatively neutral on the Saudi Real Estate industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 36.6x.
- The 3-year average PS ratio of 10.6x is higher than the industry's current PS ratio of 7.8x.
Past Earnings Growth
- Total earnings for the Real Estate industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 36% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the Saudi Arabian Real Estate industry?
| SA Market | -0.48% | |
| Real Estate | -5.71% | |
| Real Estate | -6.09% | |
| Real Estate Services | 0% | |
| Real Estate Development | -3.07% | |
| Real Estate Operating Companies | -6.70% | |
| Diversified Real Estate | -7.33% | |
Industry PE
- Investors are most optimistic about the Diversified Real Estate industry which is trading above its 3-year average PE ratio of 34.8x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Real Estate Operating Companies industry, which is trading below its 3-year average of 16.2x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 22% over the next 5 years.
- However this is lower than its past earnings growth rate of 41% per year.
- In contrast, the Real Estate Operating Companies industry is expected to see its earnings decline by 11% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 4300 Dar Al Arkan Real Estate Development | ر.س12.90 | 0.8% +ر.س108.0m | -14.9% | PE22.8x | |
| 9519 Banan Real Estate | ر.س6.00 | 3.4% +ر.س40.0m | -11.8% | PE47.3x |
