Company Valuation: Al Rajhi Banking and Investment Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 354,500 300,800 346,000 378,400 390,000 431,600 - -
Change - -15.15% 15.03% 9.36% 3.07% 10.67% - -
Enterprise Value (EV) 354,500 300,800 346,000 378,400 390,000 431,600 431,600 431,600
Change - -15.15% 15.03% 9.36% 3.07% 10.67% 0% 0%
P/E ratio 24x 17.7x 21.9x 20.3x 16.7x 16.3x 14.5x 13.1x
PBR 5.27x 3x 3.24x 3.8x 3.4x 3.43x 3.04x 2.72x
PEG - 1.2x -3.2x 1.1x 0.7x 1.2x 1.2x 1.2x
Capitalization / Revenue 13.8x 10.5x 12.6x 11.8x 9.98x 9.89x 8.94x 8.18x
EV / Revenue 0x 0x 0x 0x 0x 9.89x 8.94x 8.18x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 12.8x 11.4x 10.3x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.625 1.25 1.15 2.71 2.5 3.443 4.046 4.44
Rate of return 0.71% 1.66% 1.33% 2.86% 2.56% 3.19% 3.75% 4.11%
EPS 2 3.688 4.24 3.95 4.67 5.85 6.627 7.428 8.244
Distribution rate 16.9% 29.5% 29.1% 58% 42.7% 52% 54.5% 53.9%
Net sales 1 25,716 28,575 27,531 32,055 39,094 43,649 48,282 52,776
EBITDA - - - - - - - -
EBIT 1 18,790 21,124 20,033 24,085 29,967 33,760 37,927 41,963
Net income 1 14,746 17,151 16,621 19,722 24,792 26,395 29,881 32,650
Net Debt - - - - - - - -
Reference price 2 88.62 75.20 86.50 94.60 97.50 107.90 107.90 107.90
Nbr of stocks (in thousands) 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 - -
Announcement Date 2/13/22 1/30/23 2/1/24 1/29/25 1/27/26 - - -
1SAR in Million2SAR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.28x - - 3.19% 115B
14.24x - - 2.05% 831B
12.06x - - 2.28% 375B
5.9x - - 5.24% 366B
11.71x - - 4.53% 310B
5.67x - - 5.37% 288B
12.19x - - 2.19% 264B
5.93x - - 5.27% 251B
15.25x - - 2.82% 240B
28.23x - - 2.76% 217B
Average 12.75x 3.57% 325.74B
Weighted average by Cap. 12.33x 3.37%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Al Rajhi Banking and Investment Corporation