Thob Al Aseel (SASE:4012) - Share price, News & Analysis

4012 fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	1/6
Financial Health	6/6
Dividends	3/6

4012 Stock Overview

Thob Al Aseel Company develops, imports, exports, wholesales, and retails fabrics and readymade clothes.

Rewards

Trading at 86.1% below our estimate of its fair value

Risk Analysis

Earnings have declined by 2.9% per year over past 5 years

Dividend of 4.67% is not well covered by earnings

Thob Al Aseel Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Thob Al Aseel
Historical stock prices
Current Share Price	ر.س32.15
52 Week High	ر.س70.28
52 Week Low	ر.س31.85
Beta	0.61
1 Month Change	-21.58%
3 Month Change	-24.97%
1 Year Change	-46.08%
3 Year Change	63.61%
5 Year Change	39.40%
Change since IPO	26.08%

Shareholder Returns

	4012	SA Luxury	SA Market
7D	-10.3%	2.2%	-3.6%
1Y	-46.1%	-20.7%	11.2%

Return vs Industry: 4012 underperformed the SA Luxury industry which returned -22.1% over the past year.

Return vs Market: 4012 underperformed the SA Market which returned 10.8% over the past year.

Price Volatility

Is 4012's price volatile compared to industry and market?
4012 volatility
4012 Average Weekly Movement	4.1%
Luxury Industry Average Movement	6.2%
Market Average Movement	4.8%
10% most volatile stocks in SA Market	7.0%
10% least volatile stocks in SA Market	3.1%

Stable Share Price: 4012 is not significantly more volatile than the rest of SA stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 4012's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1970	n/a	Ahmed Saleh Al Sultan	https://www.alaseel.com.sa

Thob Al Aseel Company develops, imports, exports, wholesales, and retails fabrics and readymade clothes. It operates through Thobs and Fabrics segments. The company offers thobes, pants, underwear, pajamas, and sleeping robes, as well as miscellaneous products, such as T-shirts, ehram products, and cotton socks.

Thob Al Aseel Fundamentals Summary

How do Thob Al Aseel's earnings and revenue compare to its market cap?
4012 fundamental statistics
Market Cap	ر.س1.29b
Earnings (TTM)	ر.س64.73m
Revenue (TTM)	ر.س529.36m

19.9x

P/E Ratio

2.4x

P/S Ratio

Is 4012 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
4012 income statement (TTM)
Revenue	ر.س529.36m
Cost of Revenue	ر.س340.26m
Gross Profit	ر.س189.11m
Other Expenses	ر.س124.37m
Earnings	ر.س64.73m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.62
Gross Margin	35.72%
Net Profit Margin	12.23%
Debt/Equity Ratio	0%

How did 4012 perform over the long term?

See historical performance and comparison

Dividends

4.7%

Current Dividend Yield

93%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is 4012 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4012?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 4012. This is calculated by dividing 4012's market cap by their current preferred multiple.
What is 4012's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	ر.س1.29b

4012 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/Revenue	2.2x
Enterprise Value/EBITDA	13.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 4012's PE Ratio compare to its peers?

4012 PE Ratio vs Peers

The above table shows the PE ratio for 4012 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	21x

Forward PE

Price-To-Earnings vs Peers: 4012 is good value based on its Price-To-Earnings Ratio (19.9x) compared to the peer average (21x).

Price to Earnings Ratio vs Industry

How does 4012's PE Ratio compare vs other companies in the Luxury Industry?

Price-To-Earnings vs Industry: 4012 is expensive based on its Price-To-Earnings Ratio (19.9x) compared to the Asian Luxury industry average (12.2x)

Price to Earnings Ratio vs Fair Ratio

What is 4012'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.

4012 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	19.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 4012's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 4012 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4012 (SAR32.15) is trading below our estimate of fair value (SAR231.49)

Significantly Below Fair Value: 4012 is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 4012's PEG Ratio to determine if it is good value.

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Future Growth

How is Thob Al Aseel 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

22.7%

Forecasted Consumer Durables 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 Thob Al Aseel 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.

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Examine whether Thob Al Aseel is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Thob Al Aseel performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-2.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 4012 has high quality earnings.

Growing Profit Margin: 4012's current net profit margins (12.2%) are lower than last year (14.4%).

Past Earnings Growth Analysis

Earnings Trend: 4012's earnings have declined by 2.9% per year over the past 5 years.

Accelerating Growth: 4012's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 4012 had negative earnings growth (-17.9%) over the past year, making it difficult to compare to the Luxury industry average (58.2%).

Return on Equity

High ROE: 4012's Return on Equity (11.4%) is considered low.

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Financial Health

How is Thob Al Aseel's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 4012's short term assets (SAR681.2M) exceed its short term liabilities (SAR130.0M).

Long Term Liabilities: 4012's short term assets (SAR681.2M) exceed its long term liabilities (SAR20.2M).

Debt to Equity History and Analysis

Debt Level: 4012 is debt free.

Reducing Debt: 4012 had no debt 5 years ago.

Debt Coverage: 4012 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 4012 has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Thob Al Aseel current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

4.67%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 4012's dividend (4.67%) is higher than the bottom 25% of dividend payers in the SA market (1.97%).

High Dividend: 4012's dividend (4.67%) is in the top 25% of dividend payers in the SA market (4.64%)

Stability and Growth of Payments

Stable Dividend: 4012 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 4012 has only been paying a dividend for 5 years, and since then payments have not increased.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (92.7%), 4012's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (44.9%), 4012's dividend payments are well covered by cash flows.

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Management

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

CEO

Ahmed Saleh Al Sultan

no data

Tenure

Mr. Ahmed Saleh Abdullah Al Sultan is Chief Executive Officer of Thob Al Aseel Co.

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	2022/06/24 00:00
End of Day Share Price	2022/06/23 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31