Reported Earnings • Apr 27
First quarter 2026 earnings released: EPS: د.ك0.017 (vs د.ك0.018 in 1Q 2025) First quarter 2026 results: EPS: د.ك0.017 (down from د.ك0.018 in 1Q 2025). Revenue: د.ك13.3m (down 2.4% from 1Q 2025). Net income: د.ك8.85m (down 5.0% from 1Q 2025). Profit margin: 66% (down from 68% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 25
Upcoming dividend of د.ك0.015 per share Eligible shareholders must have bought the stock before 01 April 2026. Payment date: 08 April 2026. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 6.5%. Within top quartile of Kuwaiti dividend payers (5.9%). Higher than average of industry peers (5.0%). Announcement • Feb 18
Noor Financial Investment Company - KPSC, Annual General Meeting, Mar 12, 2026 Noor Financial Investment Company - KPSC, Annual General Meeting, Mar 12, 2026, at 12:00 Arab Standard Time. Location: kuwait city Kuwait Reported Earnings • Feb 12
Full year 2025 earnings released: EPS: د.ك0.068 (vs د.ك0.083 in FY 2024) Full year 2025 results: EPS: د.ك0.068 (down from د.ك0.083 in FY 2024). Revenue: د.ك56.0m (down 1.2% from FY 2024). Net income: د.ك34.5m (down 18% from FY 2024). Profit margin: 62% (down from 74% 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 14% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: د.ك0.015 (vs د.ك0.02 in 3Q 2024) Third quarter 2025 results: EPS: د.ك0.015 (down from د.ك0.02 in 3Q 2024). Revenue: د.ك12.6m (down 14% from 3Q 2024). Net income: د.ك7.87m (down 25% from 3Q 2024). Profit margin: 63% (down from 72% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 24
Upcoming dividend of د.ك0.01 per share Eligible shareholders must have bought the stock before 31 August 2025. Payment date: 07 September 2025. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 5.4%. Lower than top quartile of Kuwaiti dividend payers (5.9%). Higher than average of industry peers (3.5%). Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: د.ك0.018 (vs د.ك0.023 in 2Q 2024) Second quarter 2025 results: EPS: د.ك0.018 (down from د.ك0.023 in 2Q 2024). Revenue: د.ك16.7m (up 24% from 2Q 2024). Net income: د.ك9.06m (down 21% from 2Q 2024). Profit margin: 54% (down from 85% 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 27% per year whereas the company’s share price has increased by 29% per year. Buy Or Sell Opportunity • Jun 30
Now 20% undervalued Over the last 90 days, the stock has risen 18% to د.ك0.40. The fair value is estimated to be د.ك0.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 30%. New Risk • Apr 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Kuwaiti stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (45% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.6% average weekly change). Upcoming Dividend • Mar 31
Upcoming dividend of د.ك0.025 per share Eligible shareholders must have bought the stock before 07 April 2025. Payment date: 13 April 2025. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 7.5%. Within top quartile of Kuwaiti dividend payers (6.5%). Higher than average of industry peers (4.9%). Buy Or Sell Opportunity • Mar 05
Now 21% undervalued Over the last 90 days, the stock has risen 14% to د.ك0.33. The fair value is estimated to be د.ك0.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 33%. Announcement • Feb 24
Noor Financial Investment Company - KPSC, Annual General Meeting, Mar 17, 2025 Noor Financial Investment Company - KPSC, Annual General Meeting, Mar 17, 2025, at 11:00 Arab Standard Time. Location: kuwait city Kuwait Reported Earnings • Feb 15
Full year 2024 earnings released: EPS: د.ك0.083 (vs د.ك0.073 in FY 2023) Full year 2024 results: EPS: د.ك0.083 (up from د.ك0.073 in FY 2023). Revenue: د.ك56.7m (down 1.2% from FY 2023). Net income: د.ك42.0m (up 14% from FY 2023). Profit margin: 74% (up from 65% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Dec 29
Now 21% undervalued Over the last 90 days, the stock has risen 12% to د.ك0.28. The fair value is estimated to be د.ك0.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 33%. Buy Or Sell Opportunity • Nov 27
Now 22% undervalued Over the last 90 days, the stock has risen 12% to د.ك0.28. The fair value is estimated to be د.ك0.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 33%. Reported Earnings • Oct 22
Third quarter 2024 earnings released: EPS: د.ك0.021 (vs د.ك0.018 in 3Q 2023) Third quarter 2024 results: EPS: د.ك0.021 (up from د.ك0.018 in 3Q 2023). Revenue: د.ك14.6m (up 10% from 3Q 2023). Net income: د.ك10.4m (up 11% from 3Q 2023). Profit margin: 72% (in line with 3Q 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 5% per year, which means it is significantly lagging earnings. New Risk • Oct 16
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 227% Dividend yield: 3.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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: Major Risk High level of non-cash earnings (40% accrual ratio). Minor Risk Dividend is not well covered by cash flows (227% cash payout ratio). Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: د.ك0.023 (vs د.ك0.013 in 2Q 2023) Second quarter 2024 results: EPS: د.ك0.023 (up from د.ك0.013 in 2Q 2023). Revenue: د.ك15.8m (up 50% from 2Q 2023). Net income: د.ك11.5m (up 74% from 2Q 2023). Profit margin: 73% (up from 63% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: د.ك0.019 (vs د.ك0.024 in 1Q 2023) First quarter 2024 results: EPS: د.ك0.019 (down from د.ك0.024 in 1Q 2023). Revenue: د.ك13.9m (down 29% from 1Q 2023). Net income: د.ك9.91m (down 19% from 1Q 2023). Profit margin: 71% (up from 62% in 1Q 2023). The increase in margin was driven by lower expenses. 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 10% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 02
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at د.ك0.24. The fair value is estimated to be د.ك0.20, 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 33%. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: د.ك0.073 (vs د.ك0.039 in FY 2022) Full year 2023 results: EPS: د.ك0.073 (up from د.ك0.039 in FY 2022). Revenue: د.ك57.3m (up 47% from FY 2022). Net income: د.ك37.0m (up 87% from FY 2022). Profit margin: 65% (up from 51% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to د.ك0.25. The fair value is estimated to be د.ك0.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 30%. Buy Or Sell Opportunity • Jan 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 36% to د.ك0.24. The fair value is estimated to be د.ك0.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 30%. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: د.ك0.018 (vs د.ك0.009 in 3Q 2022) Third quarter 2023 results: EPS: د.ك0.018 (up from د.ك0.009 in 3Q 2022). Revenue: د.ك13.2m (up 47% from 3Q 2022). Net income: د.ك9.41m (up 101% from 3Q 2022). Profit margin: 71% (up from 52% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.9% 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 Risks Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. High level of non-cash earnings (37% accrual ratio). Reported Earnings • Aug 14
Second quarter 2023 earnings released: EPS: د.ك0.013 (vs د.ك0.006 in 2Q 2022) Second quarter 2023 results: EPS: د.ك0.013 (up from د.ك0.006 in 2Q 2022). Revenue: د.ك10.5m (up 32% from 2Q 2022). Net income: د.ك6.60m (up 103% from 2Q 2022). Profit margin: 63% (up from 41% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is expected to decline by 24% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Asia are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Aug 09
Now 21% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be د.ك0.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to decline by 23% per annum. Earnings is forecast to grow by 0.5% per annum over the same time period. Buying Opportunity • Jun 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.7%. The fair value is estimated to be د.ك0.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to decline by 23% per annum. Earnings is forecast to grow by 0.5% per annum over the same time period. Buying Opportunity • May 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be د.ك0.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to decline by 23% per annum. Earnings is forecast to grow by 0.5% per annum over the same time period. Reported Earnings • May 11
First quarter 2023 earnings released: EPS: د.ك0.024 (vs د.ك0.013 in 1Q 2022) First quarter 2023 results: EPS: د.ك0.024 (up from د.ك0.013 in 1Q 2022). Revenue: د.ك19.6m (up 75% from 1Q 2022). Net income: د.ك12.2m (up 91% from 1Q 2022). Profit margin: 62% (up from 57% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 23% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Asia are expected to grow by 9.7%. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 14
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be د.ك0.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 29%. Reported Earnings • Mar 08
Full year 2022 earnings released Full year 2022 results: Revenue: د.ك39.1m (up 12% from FY 2021). Net income: د.ك19.8m (up 14% from FY 2021). Profit margin: 51% (up from 50% in FY 2021). The increase in margin was driven by higher revenue. Buying Opportunity • Dec 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.8%. The fair value is estimated to be د.ك0.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 14%. Board Change • Nov 16
Less than half of directors are independent 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. 2 independent directors (5 non-independent directors). Independent Director Talal Sultan Al-Shehab was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: د.ك0.009 (vs د.ك0.01 in 3Q 2021) Third quarter 2022 results: EPS: د.ك0.009 (down from د.ك0.01 in 3Q 2021). Revenue: د.ك9.00m (up 1.5% from 3Q 2021). Net income: د.ك4.68m (flat on 3Q 2021). Profit margin: 52% (down from 53% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: د.ك0.006 (vs د.ك0.009 in 2Q 2021) Second quarter 2022 results: EPS: د.ك0.006 (down from د.ك0.009 in 2Q 2021). Revenue: د.ك7.98m (down 4.4% from 2Q 2021). Net income: د.ك3.25m (down 29% from 2Q 2021). Profit margin: 41% (down from 55% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • May 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 7.8%. The fair value is estimated to be د.ك0.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has declined by 10%. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: د.ك0.013 (vs د.ك0.011 in 1Q 2021) First quarter 2022 results: EPS: د.ك0.013 (up from د.ك0.011 in 1Q 2021). Revenue: د.ك11.2m (up 41% from 1Q 2021). Net income: د.ك6.39m (up 51% from 1Q 2021). Profit margin: 57% (up from 53% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 55% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). Independent Director Talal Sultan Al-Shehab was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 07
Now 20% undervalued Over the last 90 days, the stock is up 2.6%. The fair value is estimated to be د.ك0.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.4% over the last 3 years. Earnings per share has declined by 19%. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: د.ك0.044 (up from د.ك0.03 in FY 2020). Revenue: د.ك35.0m (up 19% from FY 2020). Net income: د.ك17.3m (up 46% from FY 2020). Profit margin: 50% (up from 40% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 62% per year, which means it is well ahead of earnings. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS د.ك0.012 (vs د.ك0.011 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: د.ك8.87m (up 9.2% from 3Q 2020). Net income: د.ك4.72m (up 9.5% from 3Q 2020). Profit margin: 53% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 87% per year, which means it is well ahead of earnings. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS د.ك0.03 (vs د.ك0.024 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: د.ك29.4m (down 5.7% from FY 2019). Net income: د.ك11.9m (up 24% from FY 2019). Profit margin: 40% (up from 31% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth.