SOLI

Solidarity Bahrain B.S.C BAX:SOLID Stock Report

Last Price

ب.د0.27

Market Cap

ب.د32.4m

7D

0%

1Y

10.2%

Updated

15 May, 2022

Data

Company Financials
SOLID fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance3/6
Financial Health5/6
Dividends4/6

SOLID Stock Overview

Solidarity Bahrain B.S.C. provides insurance products in Bahrain.

Solidarity Bahrain B.S.C Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Solidarity Bahrain B.S.C
Historical stock prices
Current Share Priceب.د0.27
52 Week Highب.د0.34
52 Week Lowب.د0.27
Beta0.061
1 Month Change-16.92%
3 Month Changen/a
1 Year Change10.20%
3 Year Changen/a
5 Year Changen/a
Change since IPO198.70%

Recent News & Updates

Shareholder Returns

SOLIDBH InsuranceBH Market
7D0%1.0%-4.6%
1Y10.2%-20.4%31.2%

Return vs Industry: SOLID exceeded the BH Insurance industry which returned -20.4% over the past year.

Return vs Market: SOLID underperformed the BH Market which returned 31.2% over the past year.

Price Volatility

Is SOLID's price volatile compared to industry and market?
SOLID volatility
SOLID Average Weekly Movementn/a
Insurance Industry Average Movement4.9%
Market Average Movement2.4%
10% most volatile stocks in BH Market6.8%
10% least volatile stocks in BH Market1.7%

Stable Share Price: Insufficient data to determine SOLID's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine SOLID's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
1976125Sayed Mohammedhttps://www.solidarity.com.bh

Solidarity Bahrain B.S.C. provides insurance products in Bahrain. It offers motor, home, travel, medical, pleasure craft, accident, cyber, and smart device insurance products to individuals. The company also provides property, engineering, general accident, liability, marine, and medical and life insurance products for corporate customers.

Solidarity Bahrain B.S.C Fundamentals Summary

How do Solidarity Bahrain B.S.C's earnings and revenue compare to its market cap?
SOLID fundamental statistics
Market Capب.د32.39m
Earnings (TTM)ب.د2.89m
Revenue (TTM)ب.د17.82m

11.2x

P/E Ratio

1.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SOLID income statement (TTM)
Revenueب.د17.82m
Cost of Revenueب.د10.00m
Gross Profitب.د7.83m
Other Expensesب.د4.94m
Earningsب.د2.89m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.024
Gross Margin43.91%
Net Profit Margin16.19%
Debt/Equity Ratio0%

How did SOLID perform over the long term?

See historical performance and comparison

Dividends

6.7%

Current Dividend Yield

75%

Payout Ratio

Valuation

Is Solidarity Bahrain B.S.C undervalued compared to its fair value and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


11.23x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: SOLID (BHD0.27) is trading above our estimate of fair value (BHD0.06)

Significantly Below Fair Value: SOLID is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SOLID is poor value based on its PE Ratio (11.2x) compared to the BH Insurance industry average (8.3x).

PE vs Market: SOLID is good value based on its PE Ratio (11.2x) compared to the BH market (13.8x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SOLID's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SOLID is overvalued based on its PB Ratio (1.1x) compared to the BH Insurance industry average (0.9x).


Future Growth

How is Solidarity Bahrain B.S.C forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


10.4%

Forecasted Insurance industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Solidarity Bahrain B.S.C has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Solidarity Bahrain B.S.C performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


39.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SOLID has high quality earnings.

Growing Profit Margin: SOLID's current net profit margins (16.2%) are higher than last year (14.9%).


Past Earnings Growth Analysis

Earnings Trend: SOLID's earnings have grown significantly by 39.1% per year over the past 5 years.

Accelerating Growth: SOLID's earnings growth over the past year (7.4%) is below its 5-year average (39.1% per year).

Earnings vs Industry: SOLID earnings growth over the past year (7.4%) underperformed the Insurance industry 12.2%.


Return on Equity

High ROE: SOLID's Return on Equity (11%) is considered low.


Financial Health

How is Solidarity Bahrain B.S.C's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SOLID's short term assets (BHD27.8M) do not cover its short term liabilities (BHD30.8M).

Long Term Liabilities: SOLID's short term assets (BHD27.8M) exceed its long term liabilities (BHD11.9M).


Debt to Equity History and Analysis

Debt Level: SOLID is debt free.

Reducing Debt: SOLID has not had any debt for past 5 years.

Debt Coverage: SOLID has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: SOLID has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Solidarity Bahrain B.S.C current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


6.67%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SOLID's dividend (6.67%) is higher than the bottom 25% of dividend payers in the BH market (3.71%).

High Dividend: SOLID's dividend (6.67%) is in the top 25% of dividend payers in the BH market (5.59%)


Stability and Growth of Payments

Stable Dividend: SOLID has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: SOLID's dividend payments have increased, but the company has only paid a dividend for 8 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (74.8%), SOLID's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (52.1%), SOLID's dividend payments are covered by cash flows.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

Sayed Mohammed

4.33yrs

Tenure

Mr. Sayed Jawad Mohammed has been Chief Executive Officer of Solidarity Bahrain B.S.C since 2018. Mr. Mohammed served as General Manager at Al Ahlia Insurance Company B.S.C. since June 1, 2017. Mr. Mohamme...


Leadership Team

Experienced Management: SOLID's management team is considered experienced (2.7 years average tenure).


Board Members

Experienced Board: SOLID's board of directors are considered experienced (4.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Solidarity Bahrain B.S.C.'s employee growth, exchange listings and data sources


Key Information

  • Name: Solidarity Bahrain B.S.C.
  • Ticker: SOLID
  • Exchange: BAX
  • Founded: 1976
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Implied Market Cap: ب.د32.393m
  • Shares outstanding: 119.97m
  • Website: https://www.solidarity.com.bh

Number of Employees


Location

  • Solidarity Bahrain B.S.C.
  • Seef Tower, Building 2080
  • Flat 71, 7th Floor
  • Manama
  • Bahrain

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/15 00:00
End of Day Share Price2022/05/10 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.