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1180

Saudi National Bank SASE:1180 Stock Report

Last Price

ر.س73.00

Market Cap

ر.س324.0b

7D

2.1%

1Y

21.7%

Updated

12 Aug, 2022

Data

Company Financials +
1180 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance4/6
Financial Health6/6
Dividends3/6

1180 Stock Overview

The Saudi National Bank provides various banking products and services in Saudi Arabia.

Saudi National Bank Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Saudi National Bank
Historical stock prices
Current Share Priceر.س73.00
52 Week Highر.س82.00
52 Week Lowر.س58.40
Beta0.63
1 Month Change8.31%
3 Month Change-1.35%
1 Year Change21.67%
3 Year Change41.75%
5 Year Change117.43%
Change since IPO121.21%

Recent News & Updates

Shareholder Returns

1180SA BanksSA Market
7D2.1%1.0%2.6%
1Y21.7%27.0%20.7%

Return vs Industry: 1180 underperformed the SA Banks industry which returned 27% over the past year.

Return vs Market: 1180 exceeded the SA Market which returned 20.7% over the past year.

Price Volatility

Is 1180's price volatile compared to industry and market?
1180 volatility
1180 Average Weekly Movement4.4%
Banks Industry Average Movement5.0%
Market Average Movement5.1%
10% most volatile stocks in SA Market7.9%
10% least volatile stocks in SA Market3.3%

Stable Share Price: 1180 is not significantly more volatile than the rest of SA stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 1180's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
195316,113Saeed Bin Mohammed A. Al-Ghamdihttps://www.alahli.com

The Saudi National Bank provides various banking products and services in Saudi Arabia. The company operates through four segments: Retail, Wholesale, Capital Market, and International. The Retail segment provides banking services, including lending and current accounts, as well as products in compliance with Shariah rules to individuals and private banking customers.

Saudi National Bank Fundamentals Summary

How do Saudi National Bank's earnings and revenue compare to its market cap?
1180 fundamental statistics
Market Capر.س323.98b
Earnings (TTM)ر.س15.52b
Revenue (TTM)ر.س29.39b

20.9x

P/E Ratio

2.0x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1180 income statement (TTM)
Revenueر.س29.39b
Cost of Revenueر.س0
Gross Profitر.س29.39b
Other Expensesر.س13.86b
Earningsر.س15.52b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)3.50
Gross Margin100.00%
Net Profit Margin52.83%
Debt/Equity Ratio105.0%

How did 1180 perform over the long term?

See historical performance and comparison

Dividends

3.0%

Current Dividend Yield

57%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 1180 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1180?

Other financial metrics that can be useful for relative valuation.

1180 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does 1180's PE Ratio compare to its peers?

1180 PE Ratio vs Peers
The above table shows the PE ratio for 1180 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average24.1x
1120 Al Rajhi Banking and Investment
21.8x13.4%ر.س351.6b
1010 Riyad Bank
23.5x15.7%ر.س111.9b
1060 Saudi British Bank
25.7x22.2%ر.س87.3b
1150 Alinma Bank
25.4x20.6%ر.س76.3b
1180 Saudi National Bank
20.9x20.3%ر.س324.0b

Price-To-Earnings vs Peers: 1180 is good value based on its Price-To-Earnings Ratio (20.9x) compared to the peer average (24.1x).


Price to Earnings Ratio vs Industry

How does 1180's PE Ratio compare vs other companies in the Asian Banks Industry?

Price-To-Earnings vs Industry: 1180 is good value based on its Price-To-Earnings Ratio (20.9x) compared to the SA Banks industry average (22.6x)


Price to Earnings Ratio vs Fair Ratio

What is 1180's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1180 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 1180's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 1180 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1180 (SAR73) is trading above our estimate of fair value (SAR60.66)

Significantly Below Fair Value: 1180 is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


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Future Growth

How is Saudi National Bank forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


20.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1180's forecast earnings growth (20.3% per year) is above the savings rate (8.9%).

Earnings vs Market: 1180's earnings (20.3% per year) are forecast to grow faster than the SA market (-0.5% per year).

High Growth Earnings: 1180's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 1180's revenue (13.8% per year) is forecast to grow faster than the SA market (-3.5% per year).

High Growth Revenue: 1180's revenue (13.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1180's Return on Equity is forecast to be low in 3 years time (19.6%).


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Past Performance

How has Saudi National Bank performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


9.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1180 has high quality earnings.

Growing Profit Margin: 1180's current net profit margins (52.8%) are lower than last year (55.9%).


Past Earnings Growth Analysis

Earnings Trend: 1180's earnings have grown by 9.2% per year over the past 5 years.

Accelerating Growth: 1180's earnings growth over the past year (30.6%) exceeds its 5-year average (9.2% per year).

Earnings vs Industry: 1180 earnings growth over the past year (30.6%) exceeded the Banks industry 25.2%.


Return on Equity

High ROE: 1180's Return on Equity (10%) is considered low.


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Financial Health

How is Saudi National Bank's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: 1180's Assets to Equity ratio (5.9x) is low.

Allowance for Bad Loans: 1180 has a sufficient allowance for bad loans (132%).

Low Risk Liabilities: 74% of 1180's liabilities are made up of primarily low risk sources of funding.

Loan Level: 1180 has an appropriate level of Loans to Assets ratio (56%).

Low Risk Deposits: 1180's Loans to Deposits ratio (90%) is appropriate.

Level of Bad Loans: 1180 has an appropriate level of bad loans (1.6%).


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Dividend

What is Saudi National Bank 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


3.01%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 1180's dividend (3.01%) is higher than the bottom 25% of dividend payers in the SA market (1.84%).

High Dividend: 1180's dividend (3.01%) is low compared to the top 25% of dividend payers in the SA market (4.3%).


Stability and Growth of Payments

Stable Dividend: 1180 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 1180's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (56.9%), 1180's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 1180's dividends in 3 years are forecast to be covered by earnings (51.7% payout ratio).


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Management

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

4.0yrs

Average management tenure


CEO

Saeed Bin Mohammed A. Al-Ghamdi (59 yo)

1.33yrs

Tenure

ر.س688,000

Compensation

Mr. Saeed Bin Mohammed A. Al-Ghamdi serves as Managing Director and Group Chief Executive Officer at The Saudi National Bank (formerly known as The National Commercial Bank) since April 1, 2021 and serves...


Leadership Team

Experienced Management: 1180's management team is considered experienced (4 years average tenure).


Board Members

Experienced Board: 1180's board of directors are considered experienced (4.3 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

The Saudi National Bank's employee growth, exchange listings and data sources


Key Information

  • Name: The Saudi National Bank
  • Ticker: 1180
  • Exchange: SASE
  • Founded: 1953
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: ر.س323.984b
  • Shares outstanding: 4.44b
  • Website: https://www.alahli.com

Number of Employees


Location

  • The Saudi National Bank
  • The Saudi National Bank Tower
  • King Fahd Road 3208
  • Riyadh
  • 13519
  • Saudi Arabia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/12 00:00
End of Day Share Price2022/08/11 00:00
Earnings2022/06/30
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.