LAST UPDATE: 24-april-2025
The Oriental Weavers Group is one of the world’s largest carpets, rugs, and related raw materials producers. Based in Cairo, the Group has manufacturing facilities in the United States and Egypt and distributes its products in more than 130 countries worldwide. Dedicated to innovative processes, inspired by the latest trends, and crafted to be accessible, the Oriental Weavers Group produces with a passion for value and happiness

ORWE Financial Analysis

Fiscal Years
Fiscal YearPeriod EndingReport DateRestatement Type
FY 2022Dec-31-2022Feb-27-2023No Change from Original
FY 2023Dec-31-2023Feb-28-2024No Change from Original
FY 2024Dec-31-2024Feb-27-2025Original
Current/LTMApr-24-2025Apr-24-2025Current/LTM
Key Financials
MetricFY 2022FY 2023FY 2024Current/LTM
Total Revenues13,255.7 M17,658.5 M24,288.9 M24,288.9 M
YoY Growth %16.24 %33.22 %37.55 %37.55 %
Gross Profit1,256.1 M2,549.7 M3,103.2 M3,103.2 M
Gross Profit Margin9.48 %14.44 %12.78 %12.78 %
EBITDA1,199.2 M2,447.5 M3,208.7 M3,208.7 M
EBITDA Margin9.05 %13.86 %13.21 %13.21 %
Net Income842.9 M1,740.2 M2,192.3 M2,192.3 M
Net Income Margin6.36 %9.85 %9.03 %9.03 %
Diluted EPS2.061.592.722.72
YoY Growth %73.19 %(23.03) %71.28 %71.28 %
Price / Earnings (P/E)5.3 x11.7 x9.0 x8.6 x
Capital Structure
MetricFY 2022FY 2023FY 2024Current/LTM
Market Capitalization7,296.2 M12,317.8 M16,268.5 M15,610.1 M
Cash & Equivalents3,244.5 M4,567.3 M6,304.1 M6,304.1 M
Total Debt5,966.1 M5,767.0 M8,581.5 M8,581.5 M
Preferred Equity––––
Minority Interest1,164.2 M1,361.5 M2,134.0 M2,134.0 M
Enterprise Value (EV)11,193.6 M14,879.0 M20,679.8 M20,021.4 M
Cash Flow Analysis
MetricFY 2022FY 2023FY 2024Current/LTM
Cash from Operations1,232.3 M3,134.3 M1,910.1 M1,910.1 M
YoY Growth %206.06 %154.34 %(39.06) %(39.06) %
Capital Expenditure(744.1) M(452.6) M(786.5) M(786.5) M
YoY Growth %31.44 %(39.18) %73.78 %73.78 %
Revenues
MetricFY 2022FY 2023FY 2024Current/LTM
Total Revenues13,255.7 M17,658.5 M24,288.9 M24,288.9 M
Finance Div. Revenues––––
Insurance Div. Revenues––––
Other Revenues––––
YoY Growth %16.24 %33.22 %37.55 %37.55 %
Gross Profit
MetricFY 2022FY 2023FY 2024Current/LTM
Cost Of Revenues11,999.6 M15,108.8 M21,185.7 M21,185.7 M
Gross Profit (Loss)1,256.1 M2,549.7 M3,103.2 M3,103.2 M
YoY Growth %(31.52) %102.99 %21.71 %21.71 %
Operating Income & Expenses
MetricFY 2022FY 2023FY 2024Current/LTM
SG&A Expenses657.8 M790.0 M909.2 M909.2 M
Other Operating Expenses118.4 M98.5 M145.2 M145.2 M
Operating Income479.9 M1,661.2 M2,048.8 M2,048.8 M
Net Interest & Non-Operating
MetricFY 2022FY 2023FY 2024Current/LTM
Interest Expense(304.1 M)(459.4 M)(552.6 M)(552.6 M)
Interest & Investment Income227.0 M394.4 M972.4 M972.4 M
Other Non-Operating Income (Exp.)800.1 M329.1 M594.3 M594.3 M
EBT & Net Income
MetricFY 2022FY 2023FY 2024Current/LTM
EBT Excl. Unusual Items1,130.3 M1,759.1 M2,711.4 M2,711.4 M
Gain/Loss on Sale of Assets12.4 M311.5 M42.2 M42.2 M
EBT incl. Unusual Items1,142.7 M2,085.6 M2,804.3 M2,804.3 M
Income Tax Expense198.6 M193.6 M262.6 M262.6 M
Net Income842.9 M1,740.2 M2,192.3 M2,192.3 M
Per Share & Supplemental
MetricFY 2022FY 2023FY 2024Current/LTM
Net EPS – Basic2.061.592.722.72
Normalized Basic EPS0.911.422.022.02
Dividend Per Share0.601.25––
Payout Ratio113.60 %39.45 %48.96 %48.96 %
EBITDA1,199.2 M2,447.5 M3,208.7 M3,208.7 M
Effective Tax Rate17.38 %9.28 %9.37 %9.37 %
Assets
MetricFY 2022FY 2023FY 2024Current/LTM
Total Cash & Short-Term Investments3,244.5 M4,567.3 M6,304.1 M6,304.1 M
Cash & Equivalents2,151.2 M2,282.9 M4,257.9 M4,257.9 M
Short-Term Investments1,093.3 M2,284.4 M2,046.2 M2,046.2 M
Trading Asset Securities––––
Total Receivables2,780.7 M3,681.5 M5,844.7 M5,844.7 M
Accounts Receivable2,027.7 M2,421.9 M4,485.7 M4,485.7 M
Other Receivables344.0 M508.8 M837.2 M837.2 M
Inventory6,030.8 M6,927.4 M11,460.7 M11,460.7 M
Restricted Cash––––
Prepaid Expenses38.1 M51.6 M65.2 M65.2 M
Other Current Assets125.7 M132.6 M307.5 M307.5 M
Total Current Assets12,219.9 M15,360.5 M23,982.2 M23,982.2 M
Net PP&E6,310.7 M7,098.4 M9,803.8 M9,803.8 M
Gross PP&E20,628.6 M25,311.5 M38,001.5 M38,001.5 M
Accumulated Depreciation(14,317.9 M)(18,213.1 M)(28,197.7 M)(28,197.7 M)
Long-term Investments644.6 M649.1 M1,061.5 M1,061.5 M
Deferred Tax Assets (LT)––57.1 M57.1 M
Total Assets19,175.1 M23,108.0 M34,904.6 M34,904.6 M
Liabilities
MetricFY 2022FY 2023FY 2024Current/LTM
Accounts Payable741.8 M1,585.1 M2,900.9 M2,900.9 M
Accrued Expenses217.9 M329.2 M615.0 M615.0 M
Current Portion of Long-Term Debt275.5 M240.2 M348.7 M348.7 M
Current Portion of Leases111.1 M114.6 M159.7 M159.7 M
Current Income Taxes Payable171.0 M178.7 M310.9 M310.9 M
Other Current Liabilities667.5 M927.8 M1,455.0 M1,455.0 M
Total Current Liabilities7,069.7 M8,142.8 M13,268.9 M13,268.9 M
Long-Term Debt391.6 M246.0 M129.4 M129.4 M
Long-Term Leases302.9 M398.9 M464.8 M464.8 M
Deferred Tax Liability (NC)155.6 M149.4 M––
Total Liabilities7,919.9 M8,937.1 M13,863.2 M13,863.2 M
Common Equity
MetricFY 2022FY 2023FY 2024Current/LTM
Common Equity10,091.1 M12,809.4 M18,907.3 M18,907.3 M
Common Stock665.1 M665.1 M665.1 M665.1 M
Retained Earnings2,595.5 M3,786.8 M4,801.8 M4,801.8 M
Comprehensive Income & Other6,830.4 M8,357.5 M13,440.5 M13,440.5 M
Total Equity11,255.3 M14,170.9 M21,041.3 M21,041.3 M
Total Liabilities & Equity19,175.1 M23,108.0 M34,904.6 M34,904.6 M
Supplemental Items
MetricFY 2022FY 2023FY 2024Current/LTM
ECS Total Shares Outstanding
on Filing Date		665.1 M665.1 M665.1 M665.1 M
Book Value / Share15.1719.2628.4328.43
Tangible Book Value10,091.1 M12,809.4 M18,907.3 M18,907.3 M
Tangible Book Value Per Share15.1719.2628.4328.43
Total Debt5,966.1 M5,767.0 M8,581.5 M8,581.5 M
Net Debt2,721.7 M1,199.7 M2,277.3 M2,277.3 M
Net Income & D&A
MetricFY 2022FY 2023FY 2024Current/LTM
Depreciation & Amortization, Total823.7 M901.2 M1,295.8 M1,295.8 M
Depreciation & Amortization823.7 M901.2 M1,295.8 M1,295.8 M
Amortization of Goodwill & Intangibles––––
Net Income842.9 M1,740.2 M2,192.3 M2,192.3 M
Cash from Operations
MetricFY 2022FY 2023FY 2024Current/LTM
Net Income842.9 M1,740.2 M2,192.3 M2,192.3 M
Depreciation & Amortization, Total823.7 M901.2 M1,295.8 M1,295.8 M
(Gain) Loss From Sale Of Asset–12.4 M–311.5 M–42.2 M–42.2 M
(Gain) Loss on Sale of Investments––––
Amortization of Deferred Charges, Total––––
Asset Writedown & Restructuring Costs––––
Stock-Based Compensation––––
Other Operating Activities, Total138.5 M–13.2 M–293.2 M–293.2 M
Change in Accounts Receivable653.0 M–292.1 M531.1 M531.1 M
Change in Inventories–227.1 M163.4 M–1,588.0 M–1,588.0 M
Change in Accounts Payable–1,035.3 M878.0 M–210.1 M–210.1 M
Change in Unearned Revenues––––
Change in Income Taxes––––
Change in Other Net Operating Assets––––
Cash from Operations1,232.3 M3,134.3 M1,910.1 M1,910.1 M
Cash from Investing
MetricFY 2022FY 2023FY 2024Current/LTM
Capital Expenditure–744.1 M–452.6 M–786.5 M–786.5 M
Sale of PP&E28.4 M344.8 M203.2 M203.2 M
Cash Acquisitions––––
Divestitures––––
Investment in Market & Equity Securities428.3 M–820.9 M1,349.0 M1,349.0 M
Net (Increase) Decrease in Loans Orig’d/Sold––––
Other Investing Activities, Total––––
Cash from Investing–287.4 M–928.6 M765.8 M765.8 M
Cash from Financing
MetricFY 2022FY 2023FY 2024Current/LTM
Total Debt Issued817.8 M–1,010.7 M1,010.7 M
Short-Term Debt Issued750.9 M–1,010.7 M1,010.7 M
Long-Term Debt Issued66.9 M–––
Total Debt Repaid–159.2 M–1,561.6 M–309.7 M–309.7 M
Short-Term Debt Repaid––1,169.5 M––
Long-Term Debt Repaid–159.2 M–392.1 M–309.7 M–309.7 M
Common & Preferred Dividends Paid–957.5 M–686.5 M–1,073.4 M–1,073.4 M
Other Financing Activities20.3 M–31.4 M–903.7 M–903.7 M
Cash from Financing–278.5 M–2,279.5 M–1,276.0 M–1,276.0 M
Net Change in Cash
MetricFY 2022FY 2023FY 2024Current/LTM
Foreign Exchange Rate Adjustments160.1 M151.9 M559.5 M559.5 M
Miscellaneous Cash Flow Adjustments––––
Net Change in Cash826.5 M78.1 M1,959.4 M1,959.4 M
Supplemental Items
MetricFY 2022FY 2023FY 2024Current/LTM
Free Cash Flow488.2 M2,681.7 M1,123.7 M1,123.7 M
Free Cash Flow per Share0.734.031.691.69
Cash Interest Paid304.1 M459.4 M552.6 M552.6 M
Cash Income Tax Paid (Refund)100.7 M164.4 M294.1 M294.1 M
Change in Net Working Capital2,331.9 M595.2 M4,623.9 M4,623.9 M
Net Debt Issued / Repaid658.6 M–1,561.6 M701.0 M701.0 M
Valuation Metrics
MetricFY 2022FY 2023FY 2024Current/LTM
EV / Sales (LTM)0.8 x0.8 x0.9 x0.8 x
EV / Sales (NTM)0.7 x0.7 x0.7 x0.7 x
Price / Sales (LTM)0.6 x0.7 x0.7 x0.6 x
Price / Sales (NTM)0.5 x0.6 x0.6 x0.6 x
EV / EBITDA (LTM)8.6 x5.8 x6.2 x6.0 x
EV / EBITDA (NTM)4.8 x4.3 x4.1 x4.3 x
EV / EBIT (LTM)23.3 x9.0 x10.1 x9.8 x
EV / EBIT (NTM)6.9 x5.5 x5.5 x5.6 x
Price / Earnings (LTM)5.3 x11.7 x9.0 x8.6 x
Price / Earnings (NTM)7.1 x––5.0 x
Price / Book (LTM)0.7 x1.0 x0.9 x0.8 x
Price / Tangible Book Value (LTM)0.7 x1.0 x0.9 x0.8 x
Capital Structure
MetricFY 2022FY 2023FY 2024Current/LTM
Market Capitalization7,296.2 M12,317.8 M16,268.5 M15,610.1 M
Cash & Short Term Investments3,244.5 M4,567.3 M6,304.1 M6,304.1 M
Total Debt5,966.1 M5,767.0 M8,581.5 M8,581.5 M
Preferred Equity––––
Minority Interest1,164.2 M1,361.5 M2,134.0 M2,134.0 M
Enterprise Value11,193.6 M14,879.0 M20,679.8 M20,021.4 M
Enterprise Value Multiples
EV / Sales0.8 x0.8 x0.9 x0.8 x
EV / EBITDA8.6 x5.8 x6.2 x6.0 x
EV / EBIT23.3 x9.0 x10.1 x9.8 x
Capitalization
Total Capital17,221.4 M19,937.9 M29,622.8 M29,622.8 M
Total Common Equity10,091.1 M12,809.4 M18,907.3 M18,907.3 M
Total Preferred Equity––––
Total Debt5,966.1 M5,767.0 M8,581.5 M8,581.5 M
Minority Interest1,164.2 M1,361.5 M2,134.0 M2,134.0 M
Key Ratios
Return on Total Capital2.04 %5.59 %5.17 %5.17 %
Total Debt / Total Capital34.6 %28.9 %29.0 %29.0 %
Total Debt / Equity53.0 %40.7 %40.8 %40.8 %
Total Debt / EBITDA4.6 x2.3 x2.6 x2.6 x
Long-Term Debt / Total Capital4.0 %3.2 %2.0 %2.0 %
Returns
MetricFY 2022FY 2023FY 2024Current/LTM
Return on Assets1.80 %4.91 %4.41 %4.41 %
Return On Equity9.68 %14.88 %14.44 %14.44 %
Return on Total Capital2.04 %5.59 %5.17 %5.17 %
Return on Common Equity15.78 %9.23 %11.42 %11.42 %
Margins
EBITDA Margin9.05 %13.86 %13.21 %13.21 %
EBITA Margin3.62 %9.41 %8.44 %8.44 %
EBIT Margin3.62 %9.41 %8.44 %8.44 %
EBT Margin––––
EBT Excl. Non-Recurring Items Margin––––
Gross Profit Margin9.48 %14.44 %12.78 %12.78 %
SG&A Margin4.59 %4.09 %3.64 %3.64 %
Net Income Margin6.36 %9.85 %9.03 %9.03 %
Net Available For Common Margin10.36 %5.99 %7.45 %7.45 %
Normalized Net Income Margin4.57 %5.37 %5.54 %5.54 %
Asset Turnovers
Receivables Turnover (Average Receivables)7.2 x7.9 x7.0 x7.0 x
Fixed Assets Turnover (Average Fixed Assets)2.4 x2.6 x2.9 x2.9 x
Inventory Turnover (Average Inventory)2.3 x2.3 x2.3 x2.3 x
Asset Turnover0.8 x0.8 x0.8 x0.8 x
Days Outstanding Inventory (Avg)155.8156.5158.8158.8
Short-term Liquidity
Current Ratio1.7 x1.9 x1.8 x1.8 x
Quick Ratio0.8 x0.9 x0.9 x0.9 x
Days Sales Outstanding (Average Receivables)50.746.052.052.0
Days Payable Outstanding (Avg)22.126.531.931.9
Cash Conversion Cycle (Average Days)184.5176.0179.0179.0
Operating Cash Flow to Current Liabilities0.2 %0.4 %0.1 %0.1 %
Return on Invested Capital (ROIC) = NOPAT / Average Invested Capital
MetricFY 2022FY 2023FY 2024Current/LTM
Net Operating Profit After Tax (NOPAT)281.4 M1,467.6 M1,786.2 M1,786.2 M
Invested Capital, Average–18,579.7 M24,780.4 M29,622.8 M
Return on Invested Capital (ROIC)–7.90 %7.21 %6.03 %
NOPAT Components
EBIT479.9 M1,661.2 M2,048.8 M2,048.8 M
Income Tax Expense198.6 M193.6 M262.6 M262.6 M
Net Operating Profit After Tax (reconciled)281.4 M1,467.6 M1,786.2 M1,786.2 M
Average Invested Capital Components
Long-Term Debt391.6 M246.0 M129.4 M129.4 M
Short-Term Debt5,160.4 M5,007.5 M7,827.4 M7,827.4 M
Total Equity11,255.3 M14,170.9 M21,041.3 M21,041.3 M
Current Portion of Leases111.1 M114.6 M159.7 M159.7 M
Long-Term Leases302.9 M398.9 M464.8 M464.8 M
Invested Capital17,221.4 M19,937.9 M29,622.8 M29,622.8 M
Debt Analysis & Coverage
Total Debt / Equity53.0 %40.7 %40.8 %40.8 %
Total Debt / Capital34.6 %28.9 %29.0 %29.0 %
Long-Term Debt / Equity6.2 %4.6 %2.8 %2.8 %
Long-Term Debt / Capital4.0 %3.2 %2.0 %2.0 %
Total Liabilities / Total Assets41.3 %38.7 %39.7 %39.7 %
Interest & Debt Coverage
EBIT / Interest Expense1.6 x3.6 x3.7 x3.7 x
EBITDA / Interest Expense4.3 x5.6 x6.1 x6.1 x
(EBITDA–Capex) / Interest Expense1.8 x4.6 x4.6 x4.6 x
Debt Coverage & Risk
Total Debt / EBITDA4.6 x2.3 x2.6 x2.6 x
Net Debt / EBITDA2.1 x0.5 x0.7 x0.7 x
Total Debt / (EBITDA–Capex)10.7 x2.7 x3.4 x3.4 x
Net Debt / (EBITDA–Capex)4.9 x0.6 x0.9 x0.9 x
Altman Z-Score1.672.272.112.11
Sources
  1. Bloomberg Terminal
  2. Reuters
  3. Investopedia
  4. Mckvay
  5. MarketWatch
  6. Trading Economics
  7. Acuity Knowledge Partners
  8. Koyfin
  9. Cboe Global Markets
  10. TradingView
  11. Central Bank Website
Disclaimer

The information, content, and recommendations provided on this platform are intended solely for educational and informational purposes. Under no circumstances should they be construed as personalized investment advice, nor do they constitute a solicitation to buy, sell, or hold any financial instruments.

1. No Guarantee of Profit:

Trading in financial markets involves substantial risk, and there is no guarantee of profit or protection against losses. Past performance is not indicative of future results, and the potential for loss is real.

2. Independent Decision-Making:

All investment decisions are your sole responsibility. You are strongly encouraged to perform your own due diligence, research, and seek advice from a qualified financial professional before making any investment or trading decisions.

3. Market Risks:

Financial markets are inherently volatile and subject to numerous factors, including economic conditions, geopolitical events, and unforeseen circumstances. These factors may cause rapid and significant changes in market conditions that may impact your investments.

4. No Liability:

Mckvay Consulting and any associated parties shall not be held liable for any direct, indirect, or consequential damages resulting from reliance on the information provided. Any use of this platform is at your own risk.

5. Educational Purpose Only:

The content provided is designed to educate and inform about general market trends, analysis, and strategies. It is not intended to offer specific investment recommendations or actionable directives.

6. Accuracy of Information:

While we strive to provide accurate and up-to-date information, we cannot guarantee the completeness, accuracy, or reliability of the data or recommendations. Numbers, statistics, and projections may contain errors or be outdated. Always verify data from multiple sources before making decisions.

7. Risk of Loss:

You acknowledge that trading in financial instruments carries a high level of risk and may result in the loss of your entire investment. You should only invest money you can afford to lose.

8. Past Performance:

Historical data, performance charts, and any backtesting results provided are not predictive of future performance. Past results should not be used as an indication of future success.

9. No Endorsement:

The information provided does not imply endorsement or recommendation of any particular product, service, or financial instrument. Any action taken based on the provided content is solely at the discretion of the user.

10. Changes to Information:

The content, data, and recommendations on this platform may change without notice. We are not responsible for keeping the information current or for any losses arising from the use of outdated content.

11. External Links:

Any external websites or third-party links provided are not under the control of Mckvay Consulting. We are not responsible for the content, availability, or accuracy of such external sites.

12. No Warranty:

The platform, its content, and any services offered are provided “as is,” without any warranties, express or implied, including but not limited to the accuracy, completeness, or fitness for a particular purpose.

13. Consultation with Professionals:

It is essential to consult with qualified professionals, including but not limited to financial advisors, tax consultants, or attorneys, before making any investment decisions, particularly if you are unfamiliar with the risks of financial markets.

14. Simulated or Hypothetical Performance:

Simulated performance results or hypothetical returns may not reflect actual trading results and are often designed with the benefit of hindsight. These results may not account for the potential impact of financial market factors, such as transaction costs or liquidity constraints.

15. No Control Over Market Events:

Mckvay Consulting cannot control or predict unforeseen market events, and no one can predict market movements with certainty. Therefore, the possibility of significant losses due to unexpected market developments exists.

By using this platform, you acknowledge that you have read, understood, and agreed to the terms outlined in this disclaimer. You accept the inherent risks associated with trading and investing, and you agree to trade responsibly and within your financial capacity.

This disclaimer includes the professional tone and additional points to cover a wider range of legal and risk-related considerations, including the possibility of errors in data and the need for independent verification.

Explore All Market moves

Discover recurring patterns, mistakes to avoid, and key takeaways from past trades. The archive serves as a mentor, ensuring that every trade—win or lose—becomes a learning opportunity.

BB963320 DE01 450F 8D97 5E2472F7EAD1 1 105 c June 1, 2025

Straight To The Top.

Mckvay Consulting

TMGH ~ Stock Look

Talaat Moustafa Group Holding (TMGH) has demonstrated robust financial performance and strategic growth in 2024, solidifying its position as a leading real estate developer in Egypt….

Read More
TMGH 2024 11 27 08 18 29 4c330 June 1, 2025

COMI ~ Stock look

Commercial International Bank (CIB): A leading private-sector bank in Egypt, offering a wide range of financial products and services. 24TH OF NOV 2024 COMI Key Performance…

Read More
COMI 2024 11 25 08 37 00 5cfad June 1, 2025

Search

Social

WhatsApp

Instagram

Mckvay Consulting

Straight To The Top.

Copyright © 2025 Mckvay. All rights reserved.
Terms And Conditions