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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 8.9x - 9.8x | 9.3x |
Selected Fwd P/E Multiple | 7.8x - 8.6x | 8.2x |
Fair Value | ﷼5.21 - ﷼5.75 | ﷼5.48 |
Upside | 7.3% - 18.6% | 13.0% |
Benchmarks | - | Full Ticker |
Qatar National Bank (Q.P.S.C.) | - | DSM:QNBK |
Dukhan Bank Q.P.S.C. | - | DSM:DUBK |
Doha Bank Q.P.S.C. | - | DSM:DHBK |
Qatar Islamic Bank (Q.P.S.C.) | - | DSM:QIBK |
AlRayan Bank Q.P.S.C. | - | DSM:MARK |
The Commercial Bank (P.S.Q.C.) | - | DSM:CBQK |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
QNBK | DUBK | DHBK | QIBK | MARK | CBQK | |||
DSM:QNBK | DSM:DUBK | DSM:DHBK | DSM:QIBK | DSM:MARK | DSM:CBQK | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 3.1% | 10.7% | 9.8% | 9.0% | -7.7% | 9.1% | ||
3Y CAGR | 8.4% | 3.1% | 6.6% | 9.3% | -4.4% | 10.4% | ||
Latest Twelve Months | 6.0% | 3.5% | 9.5% | 7.4% | 4.4% | -17.2% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 57.5% | 28.6% | 42.7% | 46.5% | 30.7% | 63.4% | ||
Prior Fiscal Year | 49.8% | 25.3% | 39.3% | 40.6% | 16.9% | 59.1% | ||
Latest Fiscal Year | 48.2% | 23.7% | 45.6% | 38.7% | 16.5% | 63.3% | ||
Latest Twelve Months | 47.8% | 25.0% | 45.6% | 39.7% | 16.8% | 59.5% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | NA | NA | NA | NA | NA | NA | ||
Price / LTM Sales | 5.0x | 3.6x | 3.9x | 5.2x | 2.5x | 4.6x | ||
LTM P/E Ratio | 10.5x | 14.5x | 8.6x | 13.0x | 14.9x | 7.8x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | 8.6x | 13.0x | 14.9x | |||||
Historical LTM P/E Ratio | 6.3x | 9.8x | 13.6x | |||||
Selected P/E Multiple | 8.9x | 9.3x | 9.8x | |||||
(x) LTM Net Income | 2,439 | 2,439 | 2,439 | |||||
(=) Equity Value | 21,607 | 22,744 | 23,881 | |||||
(/) Shares Outstanding | 4,047.3 | 4,047.3 | 4,047.3 | |||||
Implied Value Range | 5.34 | 5.62 | 5.90 | |||||
FX Rate: QAR/QAR | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 5.34 | 5.62 | 5.90 | 4.85 | ||||
Upside / (Downside) | 10.1% | 15.9% | 21.7% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | QNBK | DUBK | DHBK | QIBK | MARK | CBQK | |
Value of Common Equity | 165,716 | 18,788 | 7,689 | 58,128 | 21,846 | 19,629 | |
(/) Shares Outstanding | 9,120.3 | 5,195.8 | 3,100.5 | 2,362.9 | 9,300.0 | 4,047.3 | |
Implied Stock Price | 18.17 | 3.62 | 2.48 | 24.60 | 2.35 | 4.85 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 18.17 | 3.62 | 2.48 | 24.60 | 2.35 | 4.85 | |
Trading Currency | QAR | QAR | QAR | QAR | QAR | QAR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |