New Risk • May 14
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (PK₨12.3b market cap, or US$44.2m). Reported Earnings • May 05
Third quarter 2026 earnings released: EPS: PK₨0.19 (vs PK₨0.63 in 3Q 2025) Third quarter 2026 results: EPS: PK₨0.19 (down from PK₨0.63 in 3Q 2025). Revenue: PK₨2.12b (down 53% from 3Q 2025). Net income: PK₨209.9m (down 71% from 3Q 2025). Profit margin: 9.9% (down from 16% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Upcoming Dividend • May 04
Upcoming dividend of PK₨0.50 per share Eligible shareholders must have bought the stock before 11 May 2026. Payment date: 05 June 2026. The company last paid an ordinary dividend in October 2015. The average dividend yield among industry peers is 2.1%. 공시 • Apr 24
Hum Network Limited to Report Q3, 2026 Results on Apr 30, 2026 Hum Network Limited announced that they will report Q3, 2026 results on Apr 30, 2026 New Risk • Feb 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 (21% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (5.8% net profit margin). Market cap is less than US$100m (PK₨13.8b market cap, or US$49.5m). Reported Earnings • Feb 14
Second quarter 2026 earnings released: EPS: PK₨0.03 (vs PK₨0.21 in 2Q 2025) Second quarter 2026 results: EPS: PK₨0.03 (down from PK₨0.21 in 2Q 2025). Revenue: PK₨2.88b (up 1.8% from 2Q 2025). Net income: PK₨31.6m (down 87% from 2Q 2025). Profit margin: 1.1% (down from 8.3% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. 공시 • Feb 04
Hum Network Limited to Report First Half, 2026 Results on Feb 11, 2026 Hum Network Limited announced that they will report first half, 2026 results on Feb 11, 2026 New Risk • Oct 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.6% net profit margin). Market cap is less than US$100m (PK₨16.2b market cap, or US$57.7m). 공시 • Oct 23
Hum Network Limited to Report Q1, 2026 Results on Oct 28, 2025 Hum Network Limited announced that they will report Q1, 2026 results on Oct 28, 2025 Reported Earnings • Oct 07
Full year 2025 earnings released: EPS: PK₨1.09 (vs PK₨2.60 in FY 2024) Full year 2025 results: EPS: PK₨1.09 (down from PK₨2.60 in FY 2024). Revenue: PK₨11.5b (down 7.0% from FY 2024). Net income: PK₨1.24b (down 58% from FY 2024). Profit margin: 11% (down from 24% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Oct 03
Hum Network Limited, Annual General Meeting, Oct 27, 2025 Hum Network Limited, Annual General Meeting, Oct 27, 2025. Location: at ground floor, brr tower, hassan ali street, off. i.i.chundrigar road, karachi Pakistan 공시 • Sep 25
Hum Network Limited to Report Fiscal Year 2025 Results on Oct 02, 2025 Hum Network Limited announced that they will report fiscal year 2025 results at 9:30 AM, Pakistan Standard Time on Oct 02, 2025 Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨12.90, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 17x in the Media industry in Asia. Total returns to shareholders of 117% over the past three years. Reported Earnings • Mar 05
Second quarter 2025 earnings released: EPS: PK₨0.21 (vs PK₨0.61 in 2Q 2024) Second quarter 2025 results: EPS: PK₨0.21 (down from PK₨0.61 in 2Q 2024). Revenue: PK₨2.83b (up 22% from 2Q 2024). Net income: PK₨235.0m (down 66% from 2Q 2024). Profit margin: 8.3% (down from 30% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 33% per year. Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨15.59, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 18x in the Media industry in Asia. Total returns to shareholders of 192% over the past three years. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨15.90, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 17x in the Media industry in Asia. Total returns to shareholders of 186% over the past three years. 공시 • Oct 22
HUM Network Limited Announces Resignation of Lt. Gen. (R) Asif Yaseen Malik as Director HUM Network Limited has announced the resignation of Lt. Gen. (R) Asif Yaseen Malik as a director of the company, effective October 21, 2024. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to PK₨13.56, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 17x in the Media industry in Asia. Total returns to shareholders of 177% over the past three years. Reported Earnings • Oct 09
Full year 2024 earnings released: EPS: PK₨2.60 (vs PK₨1.72 in FY 2023) Full year 2024 results: EPS: PK₨2.60 (up from PK₨1.72 in FY 2023). Revenue: PK₨12.3b (up 63% from FY 2023). Net income: PK₨2.95b (up 51% from FY 2023). Profit margin: 24% (down from 26% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year and the company’s share price has also increased by 36% per year. 공시 • Oct 08
Hum Network Limited, Annual General Meeting, Oct 28, 2024 Hum Network Limited, Annual General Meeting, Oct 28, 2024. Location: at grounf floor,brr tower,hassan ali street, off: i.i.chundrigar road, karachi Pakistan Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨11.40, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 19x in the Media industry in Asia. Total returns to shareholders of 75% over the past three years. Buy Or Sell Opportunity • May 20
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 72% to PK₨10.90. The fair value is estimated to be PK₨8.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 32%. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to PK₨9.03, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 19x in the Media industry in Asia. Total returns to shareholders of 84% over the past three years. Reported Earnings • May 02
Third quarter 2024 earnings released: EPS: PK₨0.61 (vs PK₨0.41 in 3Q 2023) Third quarter 2024 results: EPS: PK₨0.61 (up from PK₨0.41 in 3Q 2023). Revenue: PK₨2.82b (up 53% from 3Q 2023). Net income: PK₨691.2m (up 48% from 3Q 2023). Profit margin: 25% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to PK₨6.72, the stock trades at a trailing P/E ratio of 3.6x. Average forward P/E is 13x in the Media industry in Asia. Total returns to shareholders of 20% over the past three years. Reported Earnings • Nov 02
First quarter 2024 earnings released: EPS: PK₨0.46 (vs PK₨0.33 in 1Q 2023) First quarter 2024 results: EPS: PK₨0.46 (up from PK₨0.33 in 1Q 2023). Revenue: PK₨2.14b (up 41% from 1Q 2023). Net income: PK₨524.9m (up 41% from 1Q 2023). Profit margin: 25% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Sep 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% 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 (23% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (PK₨6.24b market cap, or US$21.7m). Reported Earnings • Apr 29
Third quarter 2023 earnings released: EPS: PK₨0.41 (vs PK₨0.32 in 3Q 2022) Third quarter 2023 results: EPS: PK₨0.41 (up from PK₨0.32 in 3Q 2022). Revenue: PK₨1.85b (up 10.0% from 3Q 2022). Net income: PK₨468.0m (up 29% from 3Q 2022). Profit margin: 25% (up from 22% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director Muhammad Ayub Adhi was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 27
Price target decreased to PK₨16.00 Down from PK₨19.50, the current price target is an average from 2 analysts. New target price is 96% above last closing price of PK₨8.17. Stock is up 32% over the past year. The company posted earnings per share of PK₨1.05 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Muhammad Ayub Adhi was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Apr 27
Hum Network Limited Announces the Cessation of Nabigha Nasse Masood as Director Hum Network Limited informed Pakistan Stock Exchange that Mr. Nabigha Nasse Masood has ceased to be the Director of the company with effect from April 25, 2022. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨7.57, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 18x in the Media industry in Asia. Total returns to shareholders of 99% over the past three years. Reported Earnings • Feb 05
Second quarter 2022 earnings: Revenues in line with analyst expectations Second quarter 2022 results: Revenue: PK₨1.70b (up 23% from 2Q 2021). Net income: PK₨474.4m (up 140% from 2Q 2021). Profit margin: 28% (up from 14% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 18% share price gain to PK₨6.36, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 19x in the Media industry in Asia. Total returns to shareholders of 35% over the past three years. Reported Earnings • Nov 30
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: PK₨0.24 (down from PK₨0.47 in 1Q 2021). Revenue: PK₨1.30b (up 17% from 1Q 2021). Net income: PK₨222.3m (down 50% from 1Q 2021). Profit margin: 17% (down from 40% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 23
Full year 2021 earnings released: EPS PK₨1.05 (vs PK₨0.20 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨4.99b (up 7.5% from FY 2020). Net income: PK₨994.8m (up PK₨1.19b from FY 2020). Profit margin: 20% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 18% share price gain to PK₨6.50, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 19x in the Media industry in Asia. Total loss to shareholders of 3.1% over the past three years. Reported Earnings • Sep 24
First quarter 2021 earnings released: EPS PK₨0.47 (vs PK₨0.37 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: PK₨1.11b (up 23% from 1Q 2020). Net income: PK₨448.1m (up PK₨789.7m from 1Q 2020). Profit margin: 40% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 14
New 90-day low: PK₨5.71 The company is down 34% from its price of PK₨8.71 on 15 September 2020. The Pakistani market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day low: PK₨6.31 The company is down 21% from its price of PK₨7.95 on 26 August 2020. The Pakistani market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 1.0% over the same period. Is New 90 Day High Low • Sep 29
New 90-day low: PK₨7.61 The company is down 44% from its price of PK₨13.53 on 01 July 2020. The Pakistani market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 3.0% over the same period.