New Risk • May 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Dividend is not well covered by cash flows (157% cash payout ratio). お知らせ • Mar 09
Alpha Data PJSC, Annual General Meeting, Apr 01, 2026 Alpha Data PJSC, Annual General Meeting, Apr 01, 2026, at 11:00 Arabian Standard Time. Location: abu dhabi United Arab Emirates New Risk • Feb 10
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 90% Dividend yield: 8.2% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 06
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: د.إ0.14. Revenue: د.إ2.49b (up 7.1% from FY 2024). Net income: د.إ143.4m (up 13% from FY 2024). Profit margin: 5.8% (up from 5.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the IT industry in Asia. お知らせ • Feb 02
Alpha Data PJSC to Report Fiscal Year 2025 Results on Feb 05, 2026 Alpha Data PJSC announced that they will report fiscal year 2025 results on Feb 05, 2026 Reported Earnings • Nov 06
Third quarter 2025 earnings released Third quarter 2025 results: EPS: د.إ0.02. Net income: د.إ20.8m (up د.إ20.8m from 3Q 2024). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the IT industry in Asia. お知らせ • Oct 30
Alpha Data PJSC to Report Nine Months, 2025 Results on Nov 05, 2025 Alpha Data PJSC announced that they will report nine months, 2025 results on Nov 05, 2025 Reported Earnings • Aug 15
Second quarter 2025 earnings released Second quarter 2025 results: EPS: د.إ0.045. Net income: د.إ45.0m (up د.إ45.0m from 2Q 2024). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the IT industry in Asia. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to د.إ1.76, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 21x in the IT industry in Asia. Reported Earnings • May 17
First quarter 2025 earnings released First quarter 2025 results: EPS: د.إ0.032. Net income: د.إ31.9m (up د.إ31.9m from 1Q 2024). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the IT industry in Asia. Buy Or Sell Opportunity • May 16
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at د.إ1.61. The fair value is estimated to be د.إ2.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 9.7% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. お知らせ • May 02
Alpha Data PJSC to Report Q1, 2025 Results on May 14, 2025 Alpha Data PJSC announced that they will report Q1, 2025 results on May 14, 2025