Company Valuation: Arabian Internet and Communication Services Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,358 28,845 41,618 32,130 26,796 25,292 - -
Change - 29.01% 44.28% -22.8% -16.6% -5.61% - -
Enterprise Value (EV) 1 20,782 28,301 38,890 29,163 25,695 23,230 22,823 22,114
Change - 36.18% 37.42% -25.01% -11.89% -9.59% -1.75% -3.1%
P/E 27.1x 27.7x 35.2x 20.3x 18x 16.2x 14.3x 13.3x
PBR 9.85x 10.3x 12.5x 8.02x 6.25x 5.18x 4.51x 3.97x
PEG - 1.1x 2.7x 0.6x -3.03x 3.43x 1.1x 1.62x
Capitalization / Revenue 2.86x 3.28x 3.77x 2.66x 2.1x 1.86x 1.7x 1.61x
EV / Revenue 2.66x 3.21x 3.52x 2.42x 2.02x 1.71x 1.54x 1.41x
EV / EBITDA 19.1x 20.3x 23.3x 15x 12.9x 11x 9.87x 8.94x
EV / EBIT 23.1x 24.4x 28x 17.6x 15.7x 13.3x 11.8x 10.6x
EV / FCF 17x 18x 33.8x 23.3x -88.1x 16.3x 14.9x 13.2x
FCF Yield 5.89% 5.55% 2.96% 4.3% -1.14% 6.14% 6.72% 7.59%
Dividend per Share 2 4 4 5.95 6 8 8.613 9.558 10.38
Rate of return 2.13% 1.65% 1.7% 2.22% 3.55% 4.05% 4.5% 4.89%
EPS 2 6.94 8.77 9.93 13.31 12.52 13.11 14.8 16.02
Distribution rate 57.6% 45.6% 59.9% 45.1% 63.9% 65.7% 64.6% 64.8%
Net sales 1 7,816 8,805 11,040 12,064 12,730 13,617 14,837 15,690
EBITDA 1 1,090 1,392 1,669 1,948 1,987 2,110 2,311 2,474
EBIT 1 899.1 1,160 1,387 1,661 1,641 1,741 1,935 2,086
Net income 1 832.9 1,053 1,192 1,597 1,503 1,504 1,775 1,911
Net Debt 1 -1,576 -544 -2,728 -2,967 -1,101 -2,062 -2,470 -3,178
Reference price 2 188.20 242.80 349.80 270.00 225.10 212.40 212.40 212.40
Nbr of stocks (in thousands) 118,800 118,800 118,977 119,000 119,041 119,078 - -
Announcement Date 2/20/22 2/28/23 2/27/24 2/17/25 2/16/26 - - -
1SAR in Million2SAR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.2x1.71x11.01x4.05% 6.74B
23.66x3.81x13.3x2.83% 225B
-117.13x18.65x107.67x-.--% 116B
13.33x1.47x7.73x3.61% 110B
15.84x2.9x10.95x5.19% 92.77B
20.42x5.36x13.16x2.79% 61.54B
15.59x2.28x9.68x5.01% 50.56B
21.73x1.58x10.05x0.87% 40.71B
20.98x1.72x10.51x1.4% 40.51B
18.6x2.44x11.46x4.68% 38.74B
Average 4.92x 4.19x 20.55x 3.04% 78.2B
Weighted average by Cap. -0.90x 5.28x 25.54x 2.87%

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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