Export Development Bank of Egypt (S.A.E.) (CASE:EXPA) - Share price, News & Analysis

EXPA fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	5/6
Past Performance	1/6
Financial Health	5/6
Dividends	0/6

EXPA Overview

Rewards

Trading at 54.9% below our estimate of its fair value

Earnings are forecast to grow 22.72% per year

Risk Analysis

High level of non-cash earnings

Profit margins (29.5%) are lower than last year (43%)

Price History & Performance

Summary of all time highs, changes and price drops for Export Development Bank of Egypt (S.A.E.)
Historical stock prices
Current Share Price	ج.م9.08
52 Week High	ج.م8.92
52 Week Low	ج.م14.57
Beta	0.49
1 Month Change	-11.42%
3 Month Change	-11.50%
1 Year Change	-18.08%
3 Year Change	23.68%
5 Year Change	50.29%
Change since IPO	5.24%

Shareholder Returns

	EXPA	EG Diversified Financial	EG Market
7D	-2.4%	-5.4%	3.0%
1Y	-18.1%	1.5%	12.4%

Return vs Industry: EXPA underperformed the EG Diversified Financial industry which returned 1.5% over the past year.

Return vs Market: EXPA underperformed the EG Market which returned 12.4% over the past year.

Price Volatility

Is EXPA's price volatile compared to industry and market?
EXPA volatility
EXPA Beta	0.49
Industry Beta	0.67
Market Beta	1

Stable Share Price: EXPA is not significantly more volatile than the rest of EG stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: EXPA's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
n/a	1,486	n/a	https://www.ebebank.com

Export Development Bank of Egypt (S.A.E.) provides various corporate banking products and services, and loan syndication products to small and medium-size enterprises, individuals, exporters, and financial institutions in Egypt. It offers current and saving accounts, time deposits, and certificates of deposit; and medium term and short-term lending to finance working capital requirements, as well as pharmacist, doctor, and personal loans. The company also provides credit and debit cards; online banking services; and treasury services, such as foreign exchange transactions, daily market report services, and money market services.

Export Development Bank of Egypt (S.A.E.) Fundamentals Summary

How do Export Development Bank of Egypt (S.A.E.)'s earnings and revenue compare to its market cap?
EXPA fundamental statistics
Market Cap	ج.م2.98b
Earnings (TTM)	ج.م685.50m
Revenue (TTM)	ج.م2.33b

4.3x

P/E Ratio

1.3x

P/S Ratio

Is EXPA overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
EXPA income statement (TTM)
Revenue	ج.م2.33b
Cost of Revenue	ج.م0
Gross Profit	ج.م2.33b
Expenses	ج.م1.64b
Earnings	ج.م685.50m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	2.09
Gross Margin	100.00%
Net Profit Margin	29.48%
Debt/Equity Ratio	25.3%

How did EXPA perform over the long term?

See historical performance and comparison

Valuation

Is Export Development Bank of Egypt (S.A.E.) undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: EXPA (EGP9.08) is trading below our estimate of fair value (EGP20.14)

Significantly Below Fair Value: EXPA is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: EXPA is good value based on its PE Ratio (4.3x) compared to the EG Diversified Financial industry average (8.6x).

PE vs Market: EXPA is good value based on its PE Ratio (4.3x) compared to the EG market (11.3x).

Price to Earnings Growth Ratio

PEG Ratio: EXPA is good value based on its PEG Ratio (0.2x)

Price to Book Ratio

PB vs Industry: EXPA is good value based on its PB Ratio (0.5x) compared to the EG Diversified Financial industry average (1.1x).

Future Growth

How is Export Development Bank of Egypt (S.A.E.) forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

22.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: EXPA's forecast earnings growth (22.7% per year) is above the savings rate (9.1%).

Earnings vs Market: EXPA's earnings (22.7% per year) are forecast to grow faster than the EG market (13.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: EXPA's revenue (27.3% per year) is forecast to grow faster than the EG market (9.8% per year).

High Growth Revenue: EXPA's revenue (27.3% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: EXPA's Return on Equity is forecast to be low in 3 years time (16.2%).

Past Performance

How has Export Development Bank of Egypt (S.A.E.) performed over the past 5 years?

16.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: EXPA has a high level of non-cash earnings.

Growing Profit Margin: EXPA's current net profit margins (29.5%) are lower than last year (43%).

Past Earnings Growth Analysis

Earnings Trend: EXPA's earnings have grown by 16.6% per year over the past 5 years.

Accelerating Growth: EXPA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: EXPA had negative earnings growth (-37%) over the past year, making it difficult to compare to the Diversified Financial industry average (32.9%).

Return on Equity

High ROE: EXPA's Return on Equity (10.6%) is considered low.

Financial Health

How is Export Development Bank of Egypt (S.A.E.)'s financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: EXPA's Assets to Equity ratio (10.7x) is moderate.

Allowance for Bad Loans: EXPA has a sufficient allowance for bad loans (144%).

Low Risk Liabilities: 95% of EXPA's liabilities are made up of primarily low risk sources of funding.

Loan Level: EXPA has an appropriate level of Loans to Assets ratio (53%).

Low Risk Deposits: EXPA's Loans to Deposits ratio (62%) is appropriate.

Level of Bad Loans: EXPA has a high level of bad loans (2.1%).

Dividend

What is Export Development Bank of Egypt (S.A.E.) current dividend yield, its reliability and sustainability?

5.15%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate EXPA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate EXPA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if EXPA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if EXPA's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of EXPA's dividend in 3 years as they are not forecast to pay a notable one for the EG market.

Next Steps

Explore strong dividend paying companies in the Diversified Financials industry.

Management

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

2.8yrs

Average management tenure

CEO

Export Development Bank of Egypt (S.A.E.) has no CEO, or we have no data on them.

Leadership Team

Experienced Management: EXPA's management team is considered experienced (2.8 years average tenure).

Board Members

Experienced Board: EXPA's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.

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.

Data	Last Updated (UTC time)
Company Analysis	2021/10/26 16:19
End of Day Share Price	2021/10/26 00:00
Earnings	2021/06/30
Annual Earnings	2021/06/30

Market Cap

7D

1Y

Updated

Data