Bank Alfalah Past Earnings Performance

Past criteria checks 5/6

Bank Alfalah has been growing earnings at an average annual rate of 24.1%, while the Banks industry saw earnings growing at 23.4% annually. Revenues have been growing at an average rate of 23.5% per year. Bank Alfalah's return on equity is 25.8%, and it has net margins of 25.1%.

Key information

24.1%

Earnings growth rate

26.2%

EPS growth rate

Banks Industry Growth	20.1%
Revenue growth rate	23.5%
Return on equity	25.8%
Net Margin	25.1%
Last Earnings Update	31 Dec 2023

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Bank Alfalah makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

KASE:BAFL Revenue, expenses and earnings (PKR Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	145,553	36,511	5,749
30 Sep 23	124,758	31,578	5,435
30 Jun 23	115,696	28,249	5,297
31 Mar 23	103,168	24,134	4,680
31 Dec 22	87,335	18,395	2,729
30 Sep 22	80,039	17,996	2,624
30 Jun 22	70,984	16,193	2,508
31 Mar 22	65,027	16,058	1,864
31 Dec 21	60,808	14,437	1,581
30 Sep 21	56,469	12,895	1,260
30 Jun 21	53,886	12,057	1,266
31 Mar 21	51,518	11,351	1,254
31 Dec 20	50,595	10,832	1,098
30 Sep 20	52,828	12,206	1,145
30 Jun 20	52,800	12,501	1,654
31 Mar 20	52,863	12,771	1,461
31 Dec 19	52,852	13,047	1,893
30 Sep 19	49,212	11,548	2,138
30 Jun 19	46,816	11,043	1,674
31 Mar 19	45,245	10,798	1,786
31 Dec 18	43,276	10,899	1,024
30 Sep 18	41,457	9,868	-16,527
30 Jun 18	40,880	9,547	-10,570
31 Mar 18	40,342	8,701	-4,388
31 Dec 17	39,362	8,314	1,014
30 Sep 17	39,466	8,784	22,891
30 Jun 17	38,759	8,531	22,771
31 Mar 17	38,103	8,252	22,486
31 Dec 16	37,327	7,890	22,396
30 Sep 16	37,239	7,956	22,196
30 Jun 16	37,188	8,106	21,718
31 Mar 16	36,398	7,981	20,998
31 Dec 15	35,430	7,503	20,589
30 Sep 15	35,174	7,696	20,497
30 Jun 15	33,424	6,915	20,198
31 Mar 15	30,957	6,530	19,401
31 Dec 14	29,482	5,765	19,025

Quality Earnings: BAFL has high quality earnings.

Growing Profit Margin: BAFL's current net profit margins (25.1%) are higher than last year (21.1%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: BAFL's earnings have grown significantly by 24.1% per year over the past 5 years.

Accelerating Growth: BAFL's earnings growth over the past year (98.5%) exceeds its 5-year average (24.1% per year).

Earnings vs Industry: BAFL earnings growth over the past year (98.5%) exceeded the Banks industry 87.9%.

Return on Equity

High ROE: Whilst BAFL's Return on Equity (25.85%) is high, this metric is skewed due to their high level of debt.

Bank Alfalah Past Earnings Performance

Past criteria checks 5/6

Key information

Recent past performance updates

Third quarter 2023 earnings released: EPS: PK₨5.61 (vs PK₨3.10 in 3Q 2022)

Second quarter 2023 earnings released: EPS: PK₨4.97 (vs PK₨2.10 in 2Q 2022)

First quarter 2023 earnings released: EPS: PK₨6.83 (vs PK₨2.83 in 1Q 2022)

Full year 2022 earnings released: EPS: PK₨10.38 (vs PK₨8.12 in FY 2021)

Third quarter 2022 earnings released: EPS: PK₨3.10 (vs PK₨2.09 in 3Q 2021)

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Recent updates

Bank Alfalah to Acquire Samba Bank

Upcoming dividend of PK₨5.00 per share

Price target increased by 8.7% to PK₨60.46

Dividend of PK₨5.00 announced

Price target increased by 8.4% to PK₨55.60

Investor sentiment improves as stock rises 17%

Third quarter 2023 earnings released: EPS: PK₨5.61 (vs PK₨3.10 in 3Q 2022)

Now 21% undervalued

Now 21% undervalued

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: PK₨4.97 (vs PK₨2.10 in 2Q 2022)

Upcoming dividend of PK₨3.00 per share at 12% yield

First quarter 2023 earnings released: EPS: PK₨6.83 (vs PK₨2.83 in 1Q 2022)

Consensus EPS estimates increase by 12%

Consensus EPS estimates increase by 14%

Upcoming dividend of PK₨2.50 per share at 16% yield

Full year 2022 earnings released: EPS: PK₨10.38 (vs PK₨8.12 in FY 2021)

Consensus EPS estimates increase by 13%

Price target decreased by 7.6% to PK₨50.50

Consensus revenue estimates decrease by 11%

Price target increased to PK₨55.15

Less than half of directors are independent

Third quarter 2022 earnings released: EPS: PK₨3.10 (vs PK₨2.09 in 3Q 2021)

Consensus forecasts updated

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Upcoming dividend of PK₨2.50 per share

First quarter 2022 earnings: EPS exceeds analyst expectations

Less than half of directors are independent

Upcoming dividend of PK₨2.00 per share

Full year 2021 earnings: EPS exceeds analyst expectations

Price target increased to PK₨50.58

Third quarter 2021 earnings released: EPS PK₨2.09 (vs PK₨1.62 in 3Q 2020)

Second quarter 2021 earnings released: EPS PK₨2.02 (vs PK₨1.62 in 2Q 2020)

Bank Alfalah Joins Race to Acquire Silkbank's Consumer Portfolio

First quarter 2021 earnings released: EPS PK₨1.92 (vs PK₨1.63 in 1Q 2020)

Analysts update estimates

New 90-day low: PK₨33.03

Full year 2020 earnings released: EPS PK₨6.10 (vs PK₨7.35 in FY 2019)

Revenue and earnings miss expectations

Full year 2020 earnings released: EPS PK₨6.10 (vs PK₨7.35 in FY 2019)

Revenue and earnings miss expectations

Analysts update estimates

New 90-day high: PK₨37.32

New 90-day high: PK₨36.30

New 90-day low: PK₨33.07

Third-quarter earnings released: Earnings beat expectations

Third quarter earnings released

New 90-day low: PK₨34.00

Price target lowered to PK₨41.69

First half earnings released

Price target lowered to PK₨49.00

New 90-day high - PK₨36.55

Revenue & Expenses BreakdownBeta

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets

Return on Capital Employed

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