Why is National Co. for Glass Industries ?
1
Poor Management Efficiency with a low ROCE of 0.72%
- The company has been able to generate a Return on Capital Employed (avg) of 0.72% signifying low profitability per unit of total capital (equity and debt)
2
High Debt Company with a Debt to Equity ratio (avg) at times
- Poor long term growth as Net Sales has grown by an annual rate of 14.01% and Operating profit at 17.91% over the last 5 years
- High Debt Company with a Debt to Equity ratio (avg) at times
- The company has been able to generate a Return on Equity (avg) of 8.75% signifying low profitability per unit of shareholders funds
3
The company has declared negative results in Mar'2025 after 7 consecutive positive quarters
- INTEREST(HY) At SAR 0.73 MM has Grown at 80.6%
- RAW MATERIAL COST(Y) Grown by 24.24% (YoY)
- INVENTORY TURNOVER RATIO(HY) Lowest at 4%
4
With ROE of 10.79%, it has a very attractive valuation with a 1.70 Price to Book Value
- Over the past year, while the stock has generated a return of -32.38%, its profits have fallen by -3.5%
- At the current price, the company has a high dividend yield of 3.4
How much should you hold?
- Overall Portfolio exposure to National Co. for Glass Industries should be less than 10%
- Overall Portfolio exposure to Packaging should be less than 30%
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in Packaging)
When to exit? - We will constantly monitor the company and suggest at the appropriate time to exit from the stock
Is National Co. for Glass Industries for you?
Medium Risk, Medium Return
Absolute
Risk Adjusted
Volatility
National Co. for Glass Industries
-32.87%
-0.32
27.29%
Saudi Arabia All Share TASI
-12.63%
-0.89
14.47%
Quality key factors
Factor
Value
Sales Growth (5y)
14.01%
EBIT Growth (5y)
17.91%
EBIT to Interest (avg)
0.05
Debt to EBITDA (avg)
1.32
Net Debt to Equity (avg)
-0.01
Sales to Capital Employed (avg)
0.19
Tax Ratio
22.65%
Dividend Payout Ratio
50.96%
Pledged Shares
0
Institutional Holding
0
ROCE (avg)
0.72%
ROE (avg)
8.75%
Valuation Key Factors 
Factor
Value
P/E Ratio
16
Industry P/E
Price to Book Value
1.70
EV to EBIT
137.47
EV to EBITDA
31.44
EV to Capital Employed
1.72
EV to Sales
9.55
PEG Ratio
NA
Dividend Yield
3.42%
ROCE (Latest)
1.25%
ROE (Latest)
10.79%
Technical key factors
Indicator
Weekly
Monthly
MACD
Bearish
Bearish
RSI
No Signal
Bullish
Bollinger Bands
Bearish
Mildly Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Bearish
Dow Theory
Mildly Bullish
No Trend
OBV
No Trend
No Trend
Technical Movement
5What is working for the Company
OPERATING CASH FLOW(Y)
Highest at SAR 117.12 MM
DEBT-EQUITY RATIO
(HY)
Lowest at -2.91 %
-10What is not working for the Company
INTEREST(HY)
At SAR 0.73 MM has Grown at 80.6%
RAW MATERIAL COST(Y)
Grown by 24.24% (YoY
INVENTORY TURNOVER RATIO(HY)
Lowest at 4%
DEBTORS TURNOVER RATIO(HY)
Lowest at 2.28%
NET SALES(Q)
Lowest at SAR 31.06 MM
OPERATING PROFIT(Q)
Lowest at SAR 8.59 MM
PRE-TAX PROFIT(Q)
Lowest at SAR 0.65 MM
Here's what is working for National Co. for Glass Industries
Operating Cash Flow
Highest at SAR 117.12 MM and Grown
In each year in the last three yearsMOJO Watch
The company has generated higher cash revenues from business operations
Operating Cash Flows (SAR MM)
Debt-Equity Ratio
Lowest at -2.91 % and Grown
In each half year in the last five Semi-Annual periodsMOJO Watch
The company has been reducing its borrowing as compared to equity capital
Debt-Equity Ratio
Depreciation
Highest at SAR 8.64 MM
in the last five periodsMOJO Watch
The expenditure on assets done by the company may have gone into operation
Depreciation (SAR MM)
Here's what is not working for National Co. for Glass Industries
Pre-Tax Profit
At SAR 0.65 MM has Fallen at -78.11%
Year on Year (YoY)MOJO Watch
Near term Pre-Tax Profit trend is very negative
Pre-Tax Profit (SAR MM)
Interest
At SAR 0.73 MM has Grown at 80.6%
over previous Semi-Annual periodMOJO Watch
Rising interest cost signifies increased borrowings
Interest Paid (SAR MM)
Net Sales
Lowest at SAR 31.06 MM
in the last five periodsMOJO Watch
Near term sales trend is negative
Net Sales (SAR MM)
Operating Profit
Lowest at SAR 8.59 MM
in the last five periodsMOJO Watch
Near term Operating Profit trend is negative
Operating Profit (SAR MM)
Pre-Tax Profit
Lowest at SAR 0.65 MM
in the last five periodsMOJO Watch
Near term Pre-Tax Profit trend is negative
Pre-Tax Profit (SAR MM)
Inventory Turnover Ratio
Lowest at 4%
in the last five Semi-Annual periodsMOJO Watch
Company's pace of selling inventory has slowed
Inventory Turnover Ratio
Debtors Turnover Ratio
Lowest at 2.28%
in the last five Semi-Annual periodsMOJO Watch
Company's pace of selling Debtors has slowed
Debtors Turnover Ratio
Raw Material Cost
Grown by 24.24% (YoY)
MOJO Watch
The company's ability to pass on the cost of raw materials to customers has deteriorated; this may lead to a fall in profit margin
Raw Material Cost as a percentage of Sales






