Buy Or Sell Opportunity • Jul 30
Now 20% overvalued Over the last 90 days, the stock has fallen 7.6% to ر.س7.39. The fair value is estimated to be ر.س6.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.2%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 79% in the next year. Reported Earnings • May 20
First quarter 2026 earnings released: EPS: ر.س0.046 (vs ر.س0.14 in 1Q 2025) First quarter 2026 results: EPS: ر.س0.046 (down from ر.س0.14 in 1Q 2025). Revenue: ر.س62.5m (down 7.6% from 1Q 2025). Net income: ر.س4.10m (down 69% from 1Q 2025). Profit margin: 6.6% (down from 19% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Aankondiging • May 07
Tabuk Cement Company, Annual General Meeting, Jun 09, 2026 Tabuk Cement Company, Annual General Meeting, Jun 09, 2026, at 18:30 Arab Standard Time. Location: duba governorate Saudi Arabia Reported Earnings • Apr 12
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ر.س0.41 (down from ر.س0.88 in FY 2024). Revenue: ر.س287.0m (down 16% from FY 2024). Net income: ر.س37.3m (down 53% from FY 2024). Profit margin: 13% (down from 23% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Basic Materials 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 fallen by 20% per year, which means it is significantly lagging earnings. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. Non-Executive Chairman of the Board of Directors Yazid bin Al-Shathri was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ر.س0.09 (vs ر.س0.26 in 3Q 2024) Third quarter 2025 results: EPS: ر.س0.09 (down from ر.س0.26 in 3Q 2024). Revenue: ر.س72.9m (down 19% from 3Q 2024). Net income: ر.س8.25m (down 64% from 3Q 2024). Profit margin: 11% (down from 26% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 24
Upcoming dividend of ر.س0.25 per share Eligible shareholders must have bought the stock before 31 August 2025. Payment date: 17 September 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.6%. Lower than top quartile of Saudi dividend payers (5.3%). Lower than average of industry peers (5.8%). Price Target Changed • Aug 17
Price target decreased by 16% to ر.س12.00 Down from ر.س14.30, the current price target is provided by 1 analyst. New target price is 12% above last closing price of ر.س10.76. Stock is down 14% over the past year. The company posted earnings per share of ر.س0.88 last year. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ر.س0.16 (vs ر.س0.35 in 2Q 2024) Second quarter 2025 results: EPS: ر.س0.16 (down from ر.س0.35 in 2Q 2024). Revenue: ر.س69.4m (down 19% from 2Q 2024). Net income: ر.س14.1m (down 55% from 2Q 2024). Profit margin: 20% (down from 37% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Aankondiging • Jun 05
Tabuk Cement Company, Annual General Meeting, Jun 30, 2025 Tabuk Cement Company, Annual General Meeting, Jun 30, 2025, at 18:30 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 17
First quarter 2025 earnings released: EPS: ر.س0.14 (vs ر.س0.18 in 1Q 2024) First quarter 2025 results: EPS: ر.س0.14 (down from ر.س0.18 in 1Q 2024). Revenue: ر.س67.7m (down 22% from 1Q 2024). Net income: ر.س13.0m (down 19% from 1Q 2024). Profit margin: 19% (in line with 1Q 2024). Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 11
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ر.س0.88 (up from ر.س0.22 in FY 2023). Revenue: ر.س343.4m (up 30% from FY 2023). Net income: ر.س79.6m (up 303% from FY 2023). Profit margin: 23% (up from 7.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.2%. Earnings per share (EPS) exceeded analyst estimates by 121%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 09
Upcoming dividend of ر.س0.25 per share Eligible shareholders must have bought the stock before 16 April 2025. Payment date: 27 April 2025. Trailing yield: 4.1%. Lower than top quartile of Saudi dividend payers (5.3%). Lower than average of industry peers (4.7%). Buy Or Sell Opportunity • Sep 04
Now 21% undervalued Over the last 90 days, the stock has risen 10% to ر.س13.18. The fair value is estimated to be ر.س16.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.5% over the last 3 years. Earnings per share has declined by 2.9%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 9.3% per annum over the same time period. Reported Earnings • Aug 19
Third quarter 2023 earnings released: ر.س0.046 loss per share (vs ر.س0.087 profit in 3Q 2022) Third quarter 2023 results: ر.س0.046 loss per share (down from ر.س0.087 profit in 3Q 2022). Revenue: ر.س54.1m (down 27% from 3Q 2022). Net loss: ر.س4.15m (down 153% from profit in 3Q 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Apr 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.5% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 18
Third quarter 2023 earnings released: ر.س0.046 loss per share (vs ر.س0.087 profit in 3Q 2022) Third quarter 2023 results: ر.س0.046 loss per share (down from ر.س0.087 profit in 3Q 2022). Revenue: ر.س54.1m (down 27% from 3Q 2022). Net loss: ر.س4.15m (down 153% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: ر.س0.11 (vs ر.س0.028 in 2Q 2022) Second quarter 2023 results: EPS: ر.س0.11 (up from ر.س0.028 in 2Q 2022). Revenue: ر.س58.4m (down 21% from 2Q 2022). Net income: ر.س9.97m (up 300% from 2Q 2022). Profit margin: 17% (up from 3.4% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. New Risk • Jul 12
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Dividend per share is over 6x earnings per share. Dividend yield: 1.5% 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. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent Director Wafi Alshakhs was the last 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: Insufficient board refreshment. Aankondiging • Dec 06
Tabuk Cement Company, Annual General Meeting, Dec 29, 2022 Tabuk Cement Company, Annual General Meeting, Dec 29, 2022, at 15:30 Coordinated Universal Time. Price Target Changed • Nov 16
Price target increased to ر.س15.40 Up from ر.س12.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ر.س15.88. Stock is down 18% over the past year. The company is forecast to post a net loss per share of ر.س0.06 compared to earnings per share of ر.س0.20 last year. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ر.س0.028 (vs ر.س0.02 in 2Q 2021) Second quarter 2022 results: EPS: ر.س0.028 (up from ر.س0.02 in 2Q 2021). Revenue: ر.س74.2m (up 51% from 2Q 2021). Net income: ر.س2.49m (up 32% from 2Q 2021). Profit margin: 3.4% (down from 3.8% in 2Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 4.8% 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 only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • May 31
High number of new directors Independent Director Wafi Alshakhs was the last director to join the board, commencing their role in 2020. Reported Earnings • May 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: ر.س0.077 loss per share (down from ر.س0.078 profit in 1Q 2021). Revenue: ر.س62.2m (down 19% from 1Q 2021). Net loss: ر.س6.92m (down 198% from profit in 1Q 2021). Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 15%, compared to a 5.0% growth forecast for the industry in Saudi Arabia. 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 12% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to ر.س19.50 Up from ر.س12.50, the current price target is an average from 2 analysts. New target price is 11% above last closing price of ر.س17.54. Stock is down 12% over the past year. The company is forecast to post earnings per share of ر.س0.42 for next year compared to ر.س0.20 last year. Board Change • Apr 27
High number of new directors Independent Director Wafi Alshakhs was the last director to join the board, commencing their role in 2020. Aankondiging • Apr 25
Tabuk Cement Company Approves to Distribute Cash Dividends for the Year of 2021, Payable on May 15, 2022 Tabuk Cement Company approved the Board of Directors -recommendation to distribute cash dividends for the year of 2021 at the rate of SAR 0.25 per share, which represents 2.5% of the nominal value of the share with a total amount of SAR 22.500 million, provided the eligibility for dividend will be to Shareholders who own the shares at the end of trading on the day of General Assembly and those who are registered in the Company-s register at Securities Depository Center at the end of second trading day following the due date, at its AGM held on April 21, 2022. Dividend distribution date will be announced later. The company also announced to its shareholders that the dividends will be distributed starting from May 15, 2022 by direct transfer to bank accounts linked to shareholders' investment portfolios. Aankondiging • Apr 02
Tabuk Cement Company, Annual General Meeting, Apr 21, 2022 Tabuk Cement Company, Annual General Meeting, Apr 21, 2022, at 19:00 Coordinated Universal Time. Agenda: To consider the report of the board of directors for the fiscal year ended on 31-12-2021; to consider Voting on the company's auditor's report for the fiscal year ended on 12-31-2021; to consider Voting on the company's financial statements for the fiscal year ended on 12-31-2021; to consider Voting to discharge the members of the Board of Directors from liability for the fiscal year ended on 12-31-2021; to consider Voting to appointment the company's auditor from among the candidates, based on the recommendation of the audit committee, to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2022 and the first quarter of 2023, and identify their fees; and to transact other matters. Aankondiging • Mar 28
Tabuk Cement Company Announces Cash Dividend for the Financial Year of 2021 Tabuk Cement Company announced its Board of Director's recommendation to distribute cash dividends to its shareholders for the Financial year of 2021. The Total amount distributed: SAR 22.500.000. Dividend per share: SAR 0.25. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS ر.س0.094 (vs ر.س0.10 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: ر.س48.0m (down 33% from 3Q 2020). Net income: ر.س8.48m (down 10% from 3Q 2020). Profit margin: 18% (up from 13% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ر.س0.021 (vs ر.س0.006 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ر.س49.3m (down 1.5% from 2Q 2020). Net income: ر.س1.89m (up 253% from 2Q 2020). Profit margin: 3.8% (up from 1.1% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 22% share price gain to ر.س24.70, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 20x in the Basic Materials industry in Saudi Arabia. Total returns to shareholders of 89% over the past three years. Reported Earnings • May 05
First quarter 2021 earnings released: EPS ر.س0.078 (vs ر.س0.32 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ر.س77.0m (up 2.0% from 1Q 2020). Net income: ر.س7.05m (down 76% from 1Q 2020). Profit margin: 9.2% (down from 38% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 17
Tabuk Cement Company, Annual General Meeting, Apr 07, 2021 Tabuk Cement Company, Annual General Meeting, Apr 07, 2021, at 18:30 Arabian Standard Time. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 16% share price gain to ر.س22.38, the stock trades at a trailing P/E ratio of 39.1x, up from the previous P/E ratio of 33.7x. Average P/E is 21x in the Basic Materials industry in Saudi Arabia. Total returns to shareholders over the past three years are 55%. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue misses expectations Revenue missed analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 4.2%, compared to a 5.8% growth forecast for the Basic Materials industry in Saudi Arabia. Is New 90 Day High Low • Mar 10
New 90-day high: ر.س19.60 The company is up 16% from its price of ر.س16.96 on 10 December 2020. The Saudi market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 14% over the same period. Reported Earnings • Mar 09
Full year 2020 earnings released: EPS ر.س0.57 (vs ر.س0.27 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ر.س276.5m (up 16% from FY 2019). Net income: ر.س51.6m (up 113% from FY 2019). Profit margin: 19% (up from 10% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 11
New 90-day high: ر.س17.94 The company is up 8.0% from its price of ر.س16.64 on 13 October 2020. The Saudi market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 9.0% over the same period. Analyst Estimate Surprise Post Earnings • Oct 23
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 0.7% at ر.س71.5m. Revenue is expected to shrink by 10% over the next year, compared to a 5.6% decline forecast for the Basic Materials industry in Saudi Arabia. Is New 90 Day High Low • Oct 19
New 90-day high: ر.س17.10 The company is up 32% from its price of ر.س12.94 on 21 July 2020. The Saudi market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 25% over the same period. Analyst Estimate Surprise Post Earnings • Oct 17
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 0.7% at ر.س71.5m. Revenue is expected to shrink by 10% over the next year, compared to a 6.0% decline forecast for the Basic Materials industry in Saudi Arabia.