Stock MEIN MIDDLE EAST INSURANCE CO.
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Financials Middle East Insurance Co.

Equities

MEIN

JO2100211017

Multiline Insurance & Brokers

End-of-day quote Amman S.E.
Other stock markets
 06:00:00 2024-07-03 pm EDT 		5-day change 1st Jan Change
1.2 JOD 0.00% Intraday chart for Middle East Insurance Co. 0.00% +2.56%
Jul. 01 Middle East Insurance Co. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
May. 21 Middle East Insurance Co. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 31.97 29.55 28.66 28.22 22.93 25.8
Enterprise Value (EV) 1 19.56 17.96 18.34 19.47 18.32 18.68
P/E ratio 21.7 x 24.4 x 28.3 x 17.3 x 9.57 x 29.8 x
Yield 3.45% - 3.85% 7.81% 14.4% -
Capitalization / Revenue 1.35 x 1.25 x 1.3 x 1.19 x 0.92 x 0.51 x
EV / Revenue 0.83 x 0.76 x 0.83 x 0.82 x 0.73 x 0.37 x
EV / EBITDA 8.02 x 8.83 x 13.5 x 5.73 x 4.74 x 8.37 x
EV / FCF 5.93 x -19 x -2.01 x -22 x -4.7 x -1.22 x
FCF Yield 16.9% -5.27% -49.9% -4.54% -21.3% -82.1%
Price to Book 0.81 x 0.77 x 0.74 x 0.69 x 0.55 x 0.67 x
Nbr of stocks (in thousands) 22,050 22,050 22,050 22,050 22,050 22,050
Reference price 2 1.450 1.340 1.300 1.280 1.040 1.170
Announcement Date 3/31/19 6/4/20 5/2/21 3/31/22 2/28/23 5/21/24
1JOD in Million2JOD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 23.64 23.63 22.06 23.7 25.06 50.83
EBITDA 1 2.439 2.034 1.359 3.397 3.868 2.233
EBIT 1 1.84 1.432 0.7618 2.796 3.272 1.682
Operating Margin 7.78% 6.06% 3.45% 11.8% 13.06% 3.31%
Earnings before Tax (EBT) 1 1.728 1.35 1.143 2.714 3.07 1.692
Net income 1 1.47 1.213 1.011 1.632 2.396 0.8664
Net margin 6.22% 5.13% 4.58% 6.89% 9.56% 1.7%
EPS 2 0.0667 0.0550 0.0459 0.0740 0.1086 0.0393
Free Cash Flow 1 3.296 -0.9467 -9.142 -0.883 -3.9 -15.34
FCF margin 13.94% -4.01% -41.44% -3.73% -15.57% -30.19%
FCF Conversion (EBITDA) 135.16% - - - - -
FCF Conversion (Net income) 224.21% - - - - -
Dividend per Share 2 0.0500 - 0.0500 0.1000 0.1500 -
Announcement Date 3/31/19 6/4/20 5/2/21 3/31/22 2/28/23 5/21/24
1JOD in Million2JOD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 12.4 11.6 10.3 8.76 4.61 7.12
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 3.3 -0.95 -9.14 -0.88 -3.9 -15.3
ROE (net income / shareholders' equity) 3.63% 3.12% 2.62% 4.11% 5.79% 2.18%
ROA (Net income/ Total Assets) 1.32% 1.03% 0.54% 1.96% 2.2% 1.03%
Assets 1 111.5 117.5 185.7 83.31 108.9 84.5
Book Value Per Share 2 1.780 1.750 1.750 1.860 1.900 1.740
Cash Flow per Share 2 0.5600 0.5300 0.4700 0.4000 0.2100 0.3200
Capex 1 0.04 0.08 0.02 0.07 0.03 0.03
Capex / Sales 0.16% 0.32% 0.08% 0.3% 0.12% 0.06%
Announcement Date 3/31/19 6/4/20 5/2/21 3/31/22 2/28/23 5/21/24
1JOD in Million2JOD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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