Company Valuation: Tourism Enterprise Company (Shams)

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 558.2 893.6 832.7 693.9 1,110 638.4
Change - 60.08% -6.82% -16.67% 60% -42.5%
Enterprise Value (EV) 1 542.5 880.3 323 177.2 855.4 389.4
Change - 62.28% -63.31% -45.13% 382.68% -54.48%
P/E -67.9x -63.7x -115x -15.7x 174x -55.6x
PBR 8.02x 16.1x 1.51x 1.37x 2.2x 1.32x
PEG - -0.9x 1.2x -0x -2x 0x
Capitalization / Revenue 34.8x 55.9x 83.3x 72.2x 111x 68.4x
EV / Revenue 33.8x 55.1x 32.3x 18.4x 85.7x 41.7x
EV / EBITDA 1,169x -1,162x -104x -13.5x -76.9x -33.7x
EV / EBIT -97.5x -131x -34.1x -8.78x -67.1x -28.6x
EV / FCF 60.4x 126x -66.9x -482x -236x -72.1x
FCF Yield 1.65% 0.79% -1.49% -0.21% -0.42% -1.39%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -1.564 -2.67 -0.1251 -0.7643 0.1101 -0.1986
Distribution rate - - - - - -
Net sales 1 16.06 15.98 10 9.607 9.978 9.335
EBITDA 1 0.4639 -0.7573 -3.095 -13.1 -11.13 -11.54
EBIT 1 -5.564 -6.733 -9.48 -20.18 -12.74 -13.61
Net income 1 -8.195 -14.04 -7.233 -44.2 6.367 -11.48
Net Debt 1 -15.78 -13.32 -509.7 -516.7 -254.8 -249
Reference price 2 106.20 170.00 14.40 12.00 19.20 11.04
Nbr of stocks (in thousands) 5,257 5,257 57,824 57,824 57,824 57,824
Announcement Date 04/04/21 06/04/22 05/04/23 04/04/24 07/04/25 07/04/26
1SAR in Million2SAR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 216M
29.98x3.77x17.45x0.85% 87.28B
36.93x6.27x20.22x0.2% 68.91B
26.35x10.09x18.09x1.34% 22.67B
50.03x2.64x16.08x0.37% 15.37B
20.62x2.39x10.89x3.15% 12.44B
44.82x8.89x26.02x0.47% 10.69B
9.35x1.88x7.29x3.63% 4.09B
12.94x1.25x4.74x3.32% 3.71B
14.22x1.33x8.88x3.27% 3.56B
Average 27.25x 4.28x 14.41x 1.85% 22.89B
Weighted average by Cap. 32.35x 5.13x 17.78x 0.91%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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