New Risk • Aug 06
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Earnings have declined by 62% per year over the past 5 years. Minor Risk Market cap is less than US$100m (ر.س106.7m market cap, or US$28.4m). Board Change • Jul 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Vice Chairman of the Board Mazen Gharmallah Al-Zahrani was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Vice Chairman of the Board Mazen Gharmallah Al-Zahrani was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Mar 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 39% per year over the past 5 years. Minor Risks High level of debt (81% net debt to equity). Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (184% payout ratio). Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (ر.س131.9m market cap, or US$35.2m). Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ر.س24.07, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 26x in the Retail Distributors industry in Saudi Arabia. Total loss to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ر.س32.90, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 25x in the Retail Distributors industry in Saudi Arabia. Total loss to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ر.س37.94, the stock trades at a trailing P/E ratio of 39.9x. Average trailing P/E is 20x in the Retail Distributors industry in Asia. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ر.س33.12, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 19x in the Retail Distributors industry in Asia. Total loss to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ر.س39.50, the stock trades at a trailing P/E ratio of 37.3x. Average trailing P/E is 19x in the Retail Distributors industry in Asia. Total loss to shareholders of 54% over the past three years. New Risk • Jul 09
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 184% Dividend yield: 5.6% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 Earnings have declined by 23% per year over the past 5 years. Minor Risks High level of debt (98% net debt to equity). Dividend is not well covered by earnings (184% payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (ر.س213.0m market cap, or US$56.8m). Announcement • Jun 30
Amwaj International Company, Annual General Meeting, Jul 20, 2025 Amwaj International Company, Annual General Meeting, Jul 20, 2025, at 18:30 Arab Standard Time. Location: riyadh Saudi Arabia Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س42.00, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 18x in the Retail Distributors industry in Asia. Total loss to shareholders of 25% over the past year. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ر.س36.00, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 18x in the Retail Distributors industry in Asia. Total loss to shareholders of 25% over the past year. New Risk • Mar 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Saudi stocks, typically moving 7.3% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.3% average weekly change). Earnings have declined by 17% per year over the past 5 years. Minor Risks High level of debt (105% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Dividend is not well covered by earnings (151% payout ratio). Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (ر.س216.0m market cap, or US$57.6m). New Risk • Mar 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks High level of debt (105% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Dividend is not well covered by earnings (151% payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (ر.س255.0m market cap, or US$68.0m). Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ر.س42.50, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 18x in the Retail Distributors industry in Asia. Total loss to shareholders of 22% over the past year. Upcoming Dividend • Dec 15
Upcoming dividend of ر.س1.00 per share Eligible shareholders must have bought the stock before 22 December 2024. Payment date: 01 January 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.2%. Lower than top quartile of Saudi dividend payers (4.6%). Higher than average of industry peers (2.9%). Declared Dividend • Nov 28
Dividend of ر.س1.00 announced Shareholders will receive a dividend of ر.س1.00. Ex-date: 22nd December 2024 Payment date: 1st January 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is not adequately covered by earnings (90.4% earnings payout ratio). However, it is well covered by cash flows (19% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share declined by 12% over the last 5 years, which if continued should see the payout ratio increase to a potentially unsustainable range. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ر.س49.80, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 20x in the Retail Distributors industry in Asia. Total loss to shareholders of 26% over the past year. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ر.س38.00, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 20x in the Retail Distributors industry in Asia. Total loss to shareholders of 48% over the past year. New Risk • Oct 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.7% operating cash flow to total debt). Earnings have declined by 9.8% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (5.9% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Market cap is less than US$100m (ر.س273.6m market cap, or US$72.9m). New Risk • Jun 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.3% Last year net profit margin: 9.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.7% operating cash flow to total debt). Earnings have declined by 9.8% per year over the past 5 years. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Market cap is less than US$100m (ر.س262.2m market cap, or US$69.9m). Announcement • May 09
Amwaj International Company, Annual General Meeting, Jun 10, 2024 Amwaj International Company, Annual General Meeting, Jun 10, 2024, at 19:15 Arab Standard Time. Location: riyadh Saudi Arabia Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ر.س48.30, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 17x in the Retail Distributors industry in Asia. Total loss to shareholders of 42% over the past year. New Risk • Mar 21
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 4.3% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (ر.س333.6m market cap, or US$89.0m). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ر.س48.00, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 15x in the Retail Distributors industry in Asia. Total loss to shareholders of 42% over the past year. Announcement • Dec 14
Amwaj International Company Announces Cash Dividends for the First Half ended June 30, 2023 Amwaj International Company at the extraordinary general assembly meeting held on December 12, 2023, approved to distribute cash dividends in the amount of OMR 9,000,000 to shareholders for the financial period June 30, 2023 at the rate of OMR 1.5 for each share, at a rate of (15%) of the capital, provided that the eligibility goes to the shareholders who own the shares at the end of trading on the day of the General Assembly, and those registered in the company-s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the maturity date. New Risk • Sep 23
New major risk - Revenue and earnings growth Earnings have declined by 4.3% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.4% average weekly change). Earnings have declined by 4.3% per year over the past 5 years. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ر.س102, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 16x in the Retail Distributors industry in Asia. Total returns to shareholders of 13% over the past year. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ر.س90.60, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 15x in the Retail Distributors industry in Asia. Total returns to shareholders of 28% over the past year. New Risk • Jun 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Saudi stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (7.9% average weekly change). High level of non-cash earnings (39% accrual ratio). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ر.س107, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 16x in the Retail Distributors industry in Asia. Total returns to shareholders of 23% over the past year. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ر.س108, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 16x in the Retail Distributors industry in Asia. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ر.س92.20, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 15x in the Retail Distributors industry in Asia. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 21% share price gain to ر.س92.90, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 15x in the Retail Distributors industry in Asia. Reported Earnings • Sep 18
First half 2022 earnings released First half 2022 results: EPS: ر.س2.51. Net income: ر.س15.0m (up ر.س15.0m from 1H 2021). Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improved over the past week After last week's 16% share price gain to ر.س104, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 16x in the Retail Distributors industry in Asia. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 16% share price gain to ر.س87.00, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 17x in the Retail Distributors industry in Asia. 
