Reported Earnings • May 01
First quarter 2026 earnings released: EPS: ر.س1.01 (vs ر.س0.98 in 1Q 2025) First quarter 2026 results: EPS: ر.س1.01 (up from ر.س0.98 in 1Q 2025). Revenue: ر.س833.8m (up 9.1% from 1Q 2025). Net income: ر.س201.0m (up 2.0% from 1Q 2025). Profit margin: 24% (down from 26% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 15
Final dividend of ر.س1.13 announced Shareholders will receive a dividend of ر.س1.13. Ex-date: 5th May 2026 Payment date: 1st January 1970 Dividend yield will be 3.0%, which is higher than the industry average of 1.5%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 14
Mouwasat Medical Services Company, Annual General Meeting, May 04, 2026 Mouwasat Medical Services Company, Annual General Meeting, May 04, 2026, at 18:30 Arab Standard Time. Location: dammam Saudi Arabia Reported Earnings • Mar 14
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ر.س4.11 (up from ر.س3.23 in FY 2024). Revenue: ر.س3.22b (up 12% from FY 2024). Net income: ر.س822.0m (up 27% from FY 2024). Profit margin: 26% (up from 22% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 5.1%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Nov 06
Now 21% overvalued Over the last 90 days, the stock has fallen 5.7% to ر.س73.60. The fair value is estimated to be ر.س61.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 6.7%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Oct 31
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: ر.س1.00 (up from ر.س0.75 in 3Q 2024). Revenue: ر.س777.3m (up 9.4% from 3Q 2024). Net income: ر.س199.7m (up 33% from 3Q 2024). Profit margin: 26% (up from 21% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 9.9%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 05
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: ر.س0.93 (up from ر.س0.76 in 2Q 2024). Revenue: ر.س796.4m (up 15% from 2Q 2024). Net income: ر.س187.0m (up 22% from 2Q 2024). Profit margin: 24% (up from 22% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • May 07
First quarter 2025 earnings: EPS in line with expectations, revenues disappoint First quarter 2025 results: EPS: ر.س0.99 (up from ر.س0.86 in 1Q 2024). Revenue: ر.س764.3m (up 5.8% from 1Q 2024). Net income: ر.س197.0m (up 15% from 1Q 2024). Profit margin: 26% (up from 24% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • May 07
Mouwasat Medical Services Company Approves Cash Dividend for the Fiscal Year Ended December 31, 2024 Mouwasat Medical Services Company at its General Assembly's Meeting held on May 05, 2025, Approval of the Board’s recommendation to distribute cash dividends amounting to SAR 400 million to the shareholders for the fiscal year ended December 31, 2024 at SAR 2 per share representing 20% of the nominal value of the share. Provided that the entitlement is for shareholders holding the shares by the end of the trading day of Assembly date, and who are registered in the Company's Shareholders Registry held with the Security Depository Center Company (Edaa) at the end of the second trading day following the entitlement date, The disbursement of dividends will begin by transferring them to accounts associated with the portfolios of eligible shareholders as of May 15, 2025 through the Paying agent - Securities Depository Center Company (Edaa), and any shareholder in the event of a failure of deposit in his account can contact the Paying agent - Securities Deposit Center (Edaa) or communicate with the Company via email: shares@mouwasat.com. Announcement • Apr 11
Mouwasat Medical Services Company, Annual General Meeting, May 05, 2025 Mouwasat Medical Services Company, Annual General Meeting, May 05, 2025, at 18:30 Arab Standard Time. Location: dammam Saudi Arabia Price Target Changed • Mar 26
Price target decreased by 8.6% to ر.س104 Down from ر.س114, the current price target is an average from 14 analysts. New target price is 40% above last closing price of ر.س74.30. Stock is down 45% over the past year. The company is forecast to post earnings per share of ر.س3.76 for next year compared to ر.س3.23 last year. Reported Earnings • Mar 06
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ر.س3.23 (down from ر.س3.29 in FY 2023). Revenue: ر.س2.88b (up 6.4% from FY 2023). Net income: ر.س645.8m (down 1.8% from FY 2023). Profit margin: 22% (down from 24% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jan 15
Now 21% overvalued Over the last 90 days, the stock has fallen 8.4% to ر.س90.70. The fair value is estimated to be ر.س74.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 6.1%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Major Estimate Revision • Dec 05
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ر.س3.70 to ر.س3.30. Revenue forecast unchanged from ر.س3.24b at last update. Net income forecast to grow 19% next year vs 19% growth forecast for Healthcare industry in Saudi Arabia. Consensus price target down from ر.س124 to ر.س121. Share price was steady at ر.س91.90 over the past week. Buy Or Sell Opportunity • Nov 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10.0% to ر.س93.60. The fair value is estimated to be ر.س119, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 6.1%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Reported Earnings • Nov 06
Third quarter 2024 earnings released: EPS: ر.س0.75 (vs ر.س0.78 in 3Q 2023) Third quarter 2024 results: EPS: ر.س0.75 (down from ر.س0.78 in 3Q 2023). Revenue: ر.س710.7m (up 11% from 3Q 2023). Net income: ر.س149.6m (down 4.3% from 3Q 2023). Profit margin: 21% (down from 24% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 4% per year. Buy Or Sell Opportunity • Oct 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to ر.س95.40. The fair value is estimated to be ر.س120, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.6%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Buy Or Sell Opportunity • Oct 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to ر.س96.00. The fair value is estimated to be ر.س120, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.6%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Reported Earnings • Aug 06
Second quarter 2024 earnings released: EPS: ر.س0.76 (vs ر.س0.76 in 2Q 2023) Second quarter 2024 results: EPS: ر.س0.76 (up from ر.س0.76 in 2Q 2023). Revenue: ر.س690.3m (up 10.0% from 2Q 2023). Net income: ر.س152.7m (up 1.4% from 2Q 2023). Profit margin: 22% (down from 24% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Buy Or Sell Opportunity • Jun 02
Now 28% overvalued Over the last 90 days, the stock has fallen 5.7% to ر.س116. The fair value is estimated to be ر.س90.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 5.3%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Announcement • May 05
Mouwasat Medical Services Company, Annual General Meeting, May 27, 2024 Mouwasat Medical Services Company, Annual General Meeting, May 27, 2024, at 18:30 Arabian Standard Time. Agenda: To review and discuss the Board of Directors’ report for the fiscal year ended December 31, 2023; to consider the Company’s accounts for the fiscal year ended December 31, 2023; to review and discuss the financial statements for the fiscal year ended December 31, 2023; to consider appointing the Auditor for the Company; to consider the recommendation to distribute cash dividends; and to consider other matters. Buy Or Sell Opportunity • Apr 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to ر.س134. The fair value is estimated to be ر.س111, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 5.6%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Mar 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ر.س3.29 (up from ر.س3.00 in FY 2022). Revenue: ر.س2.71b (up 16% from FY 2022). Net income: ر.س657.7m (up 9.7% from FY 2022). Profit margin: 24% (down from 26% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Mar 29
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to ر.س136. The fair value is estimated to be ر.س114, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 5.6%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Announcement • Dec 27
Mouwasat Medical Services Company Recommends Distribution of Cash Dividend for the Fiscal Year 2023 The Board of Directors of Mouwasat Medical Services Company recommended in its meeting held on December 25, 2023, to distribute cash dividends of SAR 1.75 per share to shareholders for the fiscal year 2023. Distribution date to be announced later. Reported Earnings • Nov 08
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ر.س0.78 (up from ر.س0.61 in 3Q 2022). Revenue: ر.س640.9m (up 17% from 3Q 2022). Net income: ر.س156.4m (up 28% from 3Q 2022). Profit margin: 24% (up from 22% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 5.4%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: ر.س0.75 (vs ر.س0.70 in 2Q 2022) Second quarter 2023 results: EPS: ر.س0.75 (up from ر.س0.70 in 2Q 2022). Revenue: ر.س627.3m (up 13% from 2Q 2022). Net income: ر.س150.5m (up 6.4% from 2Q 2022). Profit margin: 24% (down from 25% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Aug 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 51%. The fair value is estimated to be ر.س154, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 9.1%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. New Risk • Jun 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س226, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 29x in the Healthcare industry in Saudi Arabia. Total returns to shareholders of 213% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ر.س121 per share. Announcement • Jan 09
Mouwasat Medical Services Company Announces Executive Appointments Mouwasat Medical Services Company has appointed Mohammad Sultan Al Subaie as the Chairman ofthe board for the coming three years. The company also named Nassir Sultan Al Subaei as the Vice Chairman for the same period. In addition, Mouwasat appointed Mohamed Soliman Al Saleem as the Managing Director, while Khalid Suliman Al Saleem was announced as his deputy. The new officials, who were elected by the shareholders during the ordinary general meeting (OGM), will be in position for the new board term that started on 4 January 2023 and will end on 3 January 2026. Announcement • Dec 26
Mouwasat Medical Services Company Approves Appointment of Dr. Mohammed Hamad Alkathiri as Member of the Board of Directors and Audit Committee Mouwasat Medical Services Company at it's AGM approved appointment of Dr. Mohammed Hamad Alkathiri as member of the Board of Directors and Audit Committee. Announcement • Dec 23
Mouwasat Medical Services Co. Recommends the Distribution of Cash Dividend for Year 2022 The Board of Directors of Mouwasat Medical Services Company, in its meeting recommended the distribution of cash dividends SAR 3.00 per share for the fiscal year 2022. The distribution date will be announced after the general assembly of the company. Announcement • Nov 21
Mouwasat Medical Services Company, Annual General Meeting, Dec 22, 2022 Mouwasat Medical Services Company, Annual General Meeting, Dec 22, 2022, at 15:30 Coordinated Universal Time. Agenda: To consider voting on the election of the members of the Board of Directors from among the candidates for the new session of 3 years starting from 4th Jan 2023 and ending on 3rd Jan 2026; to consider formation of the Audit Committee as well as the Audit Committee’s Charter for the new session of 3 years starting from 4th Jan 2023 and ending on 3rd Jan 2026; and to consider other matters. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Fahad Al-Shammari was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: ر.س1.22 (vs ر.س1.43 in 3Q 2021) Third quarter 2022 results: EPS: ر.س1.22 (down from ر.س1.43 in 3Q 2021). Revenue: ر.س549.1m (up 3.4% from 3Q 2021). Net income: ر.س122.2m (down 14% from 3Q 2021). Profit margin: 22% (down from 27% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Sep 07
Now 20% undervalued Over the last 90 days, the stock is up 5.0%. The fair value is estimated to be ر.س277, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 9.9% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: ر.س1.42 (vs ر.س1.41 in 2Q 2021) Second quarter 2022 results: EPS: ر.س1.42 (up from ر.س1.41 in 2Q 2021). Revenue: ر.س557.9m (up 5.9% from 2Q 2021). Net income: ر.س141.5m (flat on 2Q 2021). Profit margin: 25% (down from 27% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 18%, compared to a 9.7% growth forecast for the industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 24
Mouwasat Medical Services Company (SASE:4002) signed a non-binding memorandum of understanding to acquire 100% of Al-Marasem international hospital. Mouwasat Medical Services Company (SASE:4002) signed a non-binding memorandum of understanding to acquire 100% of Al-Marasem international hospital on May 23, 2022. The two parties agreed to determine the value of the transaction to be in cash after the completion of the due diligence work. The owners of AL-MARASEM INTERNATIONAL HOSPITAL will be in operation from date of its signing for three months. Major Estimate Revision • May 23
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ر.س2.54b to ر.س2.27b. EPS estimate unchanged from ر.س6.79 per share at last update. Healthcare industry in Saudi Arabia expected to see average net income growth of 13% next year. Consensus price target broadly unchanged at ر.س215. Share price fell 3.6% to ر.س217 over the past week. Reported Earnings • May 16
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: ر.س1.50 (up from ر.س1.47 in 1Q 2021). Revenue: ر.س567.0m (up 6.1% from 1Q 2021). Net income: ر.س150.2m (up 2.1% from 1Q 2021). Profit margin: 27% (down from 28% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) exceeded analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 22%, compared to a 11% growth forecast for the industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
Mouwasat Medical Services Company Recommends Dividend for the Fiscal Year Ended December 31, 2021 Mouwasat Medical Services Company recommends to distribute cash dividends amounting to SAR 275 million to the shareholders for the fiscal year ended December 31, 2021. Price Target Changed • May 11
Price target increased to ر.س218 Up from ر.س203, the current price target is an average from 7 analysts. New target price is 8.2% below last closing price of ر.س238. Stock is up 27% over the past year. The company is forecast to post earnings per share of ر.س6.61 for next year compared to ر.س5.78 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Fahad Al-Shammari was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 14
Mouwasat Medical Services Company, Annual General Meeting, May 09, 2022 Mouwasat Medical Services Company, Annual General Meeting, May 09, 2022, at 15:30 Coordinated Universal Time. Agenda: To consider Voting on the Board of Directors’ report for the fiscal year ended December 31, 2021; to consider Voting on the auditor report on the Company’s accounts for the fiscal year ended December 31, 2021; to consider Voting on the financial statements for the fiscal year ended December 31, 2021; and to consider other matters. Reported Earnings • Mar 18
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ر.س5.78 (up from ر.س5.28 in FY 2020). Revenue: ر.س2.14b (up 4.8% from FY 2020). Net income: ر.س578.2m (up 9.5% from FY 2020). Profit margin: 27% (up from 26% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 18%, compared to a 9.2% growth forecast for the industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 31
Mouwasat Medical Services Company Announces the Continuation of the Pilot Operation of the New Mouwasat Hospital in Al-Madinah Al-Munawara Mouwasat Medical Services company announced the continuation of the pilot operation as all the necessary tests for the construction and medical systems are still underway to verify the complete readiness for actual operation, and any developments will be announced in due course. Start of the pilot operation of the new Mouwasat Hospital in Al-Madinah Al-Munawara. Major Estimate Revision • Dec 11
Consensus EPS estimates fall to ر.س5.74 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ر.س2.22b to ر.س2.19b. EPS estimate also fell from ر.س6.66 to ر.س5.74. Net income forecast to grow 11% next year vs 22% growth forecast for Healthcare industry in Saudi Arabia. Consensus price target broadly unchanged at ر.س189. Share price fell 3.5% to ر.س165 over the past week. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS ر.س1.43 (vs ر.س1.61 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ر.س531.0m (down 3.3% from 3Q 2020). Net income: ر.س142.7m (down 11% from 3Q 2020). Profit margin: 27% (down from 29% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Aug 03
Price target increased to ر.س175 Up from ر.س161, the current price target is an average from 8 analysts. New target price is 7.4% below last closing price of ر.س189. Stock is up 73% over the past year. Price Target Changed • Jul 14
Price target increased to ر.س168 Up from ر.س151, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ر.س174. Stock is up 74% over the past year. Major Estimate Revision • Jun 16
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from ر.س5.66 to ر.س6.42. Revenue forecast steady at ر.س2.35b. Net income forecast to grow 18% next year vs 22% growth forecast for Healthcare industry in Saudi Arabia. Consensus price target up from ر.س151 to ر.س161. Share price was steady at ر.س187 over the past week. Reported Earnings • May 14
First quarter 2021 earnings released: EPS ر.س1.47 (vs ر.س1.08 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ر.س534.1m (up 8.1% from 1Q 2020). Net income: ر.س147.2m (up 36% from 1Q 2020). Profit margin: 28% (up from 22% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 04
Mouwasat Medical Services Company Announces Approval of Cash Dividend Mouwasat Medical Services Company announces Approval of the Board’s recommendation to distribute cash dividends amounting to SAR 250 million to the shareholders for the fiscal year ended December 31, 2020, at SAR 2.5 per share representing 25% of the nominal value of the share.