WARBA INSURANCE COMPANY (K.S.C.P)

Warba Insurance and Reinsurance Company

WINSREStocksBoursa KuwaitInsurance

Financials

1-5

	CurrentMar 10, 2026	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022
Market & Price
Market Capitalization	40.41M	42.60M	39.92M	24.00M	20.73M
Market Cap Growth	-2.9%	+6.7%	+66.4%	+15.8%	-24.3%
Enterprise Value	45.58M	43.67M	35.62M	24.73M	14.93M
Last Close Price	0.17	0.16	0.14	0.08	0.06
Valuation Multiples
PE Ratio	10.49	9.40	7.10	3.39	4.26
PS Ratio	1.57	1.60	1.46	0.86	0.99
PB Ratio	0.76	0.78	0.92	0.66	0.56
P/TBV Ratio	0.77	0.78	0.92	0.66	0.56
P/FCF Ratio	15.10	52.34	3.73	3.82	5.00
P/OCF Ratio	14.35	45.09	3.72	3.76	4.68
EV/Sales Ratio	1.77	1.64	1.30	0.89	0.71
EV/EBITDA Ratio	11.38	9.47	6.34	3.45	3.03
EV/EBIT Ratio	12.14	10.00	6.64	3.56	3.17
EV/FCF Ratio	17.04	53.65	3.32	3.94	3.60
Leverage & Capital
Debt / Equity Ratio	0.26	0.04	0.09	0.11	0.11
Debt / EBITDA Ratio	3.39	0.43	0.71	0.56	0.81
Debt / FCF Ratio	5.08	2.46	0.37	0.64	0.96
Net Debt / Equity Ratio	0.10	-0.12	-0.05	-0.04	-0.08
Net Debt / EBITDA Ratio	1.27	-1.37	-0.35	-0.19	-0.58
Net Debt / FCF Ratio	1.91	-7.77	-0.18	-0.22	-0.69
Efficiency & Liquidity
Asset Turnover	0.22	0.24	0.28	0.31	0.20
Quick Ratio	—	13.85	12.35	9.83	9.18
Current Ratio	—	19.58	18.48	17.46	19.51
Returns & Yields
Return on Equity (ROE)	+7.6%	+9.3%	+14.2%	+19.4%	+12.5%
Return on Assets (ROA)	+2.0%	+2.5%	+3.4%	+4.8%	+2.8%
Return on Invested Capital (ROIC)	+6.0%	+8.3%	+12.1%	+17.0%	+10.9%
Earnings Yield	+9.5%	+10.6%	+14.1%	+29.5%	+23.5%
FCF Yield	+6.6%	+1.9%	+26.8%	+26.2%	+20.0%
Dividend Yield	+9.1%	+9.4%	+8.7%	+12.8%	+8.9%
Payout Ratio	+94.8%	+64.2%	+41.0%	+18.7%	+33.9%
Buyback Yield / Dilution	-0.3%	-0.9%	-0.3%	+0.9%	-1.1%
Total Shareholder Return	+8.8%	+8.5%	+8.4%	+13.6%	+7.9%

1-5

	CurrentMar 10, 2026	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022
Market & Price
Market Capitalization	40.41M	42.60M	39.92M	24.00M	20.73M
Market Cap Growth	-2.9%	+6.7%	+66.4%	+15.8%	-24.3%
Enterprise Value	45.58M	43.67M	35.62M	24.73M	14.93M
Last Close Price	0.17	0.16	0.14	0.08	0.06
Valuation Multiples
PE Ratio	10.49	9.40	7.10	3.39	4.26
PS Ratio	1.57	1.60	1.46	0.86	0.99
PB Ratio	0.76	0.78	0.92	0.66	0.56
P/TBV Ratio	0.77	0.78	0.92	0.66	0.56
P/FCF Ratio	15.10	52.34	3.73	3.82	5.00
P/OCF Ratio	14.35	45.09	3.72	3.76	4.68
EV/Sales Ratio	1.77	1.64	1.30	0.89	0.71
EV/EBITDA Ratio	11.38	9.47	6.34	3.45	3.03
EV/EBIT Ratio	12.14	10.00	6.64	3.56	3.17
EV/FCF Ratio	17.04	53.65	3.32	3.94	3.60
Leverage & Capital
Debt / Equity Ratio	0.26	0.04	0.09	0.11	0.11
Debt / EBITDA Ratio	3.39	0.43	0.71	0.56	0.81
Debt / FCF Ratio	5.08	2.46	0.37	0.64	0.96
Net Debt / Equity Ratio	0.10	-0.12	-0.05	-0.04	-0.08
Net Debt / EBITDA Ratio	1.27	-1.37	-0.35	-0.19	-0.58
Net Debt / FCF Ratio	1.91	-7.77	-0.18	-0.22	-0.69
Efficiency & Liquidity
Asset Turnover	0.22	0.24	0.28	0.31	0.20
Quick Ratio	—	13.85	12.35	9.83	9.18
Current Ratio	—	19.58	18.48	17.46	19.51
Returns & Yields
Return on Equity (ROE)	+7.6%	+9.3%	+14.2%	+19.4%	+12.5%
Return on Assets (ROA)	+2.0%	+2.5%	+3.4%	+4.8%	+2.8%
Return on Invested Capital (ROIC)	+6.0%	+8.3%	+12.1%	+17.0%	+10.9%
Earnings Yield	+9.5%	+10.6%	+14.1%	+29.5%	+23.5%
FCF Yield	+6.6%	+1.9%	+26.8%	+26.2%	+20.0%
Dividend Yield	+9.1%	+9.4%	+8.7%	+12.8%	+8.9%
Payout Ratio	+94.8%	+64.2%	+41.0%	+18.7%	+33.9%
Buyback Yield / Dilution	-0.3%	-0.9%	-0.3%	+0.9%	-1.1%
Total Shareholder Return	+8.8%	+8.5%	+8.4%	+13.6%	+7.9%