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 24,296 - -
Change - 29.01% 44.28% -22.8% -16.6% -9.33% - -
Enterprise Value (EV) 1 20,782 28,301 38,890 29,163 25,695 22,567 21,788 21,076
Change - 36.18% 37.42% -25.01% -11.89% -12.18% -3.45% -3.27%
P/E 27.1x 27.7x 35.2x 20.3x 18x 15.4x 13.8x 12.8x
PBR 9.85x 10.3x 12.5x 8.02x 6.25x 4.99x 4.34x 3.83x
PEG - 1.1x 2.7x 0.6x -3.03x 2.57x 1.2x 1.57x
Capitalization / Revenue 2.86x 3.28x 3.77x 2.66x 2.1x 1.79x 1.64x 1.55x
EV / Revenue 2.66x 3.21x 3.52x 2.42x 2.02x 1.66x 1.47x 1.35x
EV / EBITDA 19.1x 20.3x 23.3x 15x 12.9x 10.8x 9.5x 8.6x
EV / EBIT 23.1x 24.4x 28x 17.6x 15.7x 13x 11.3x 10.2x
EV / FCF 17x 18x 33.8x 23.3x -88.1x 18.2x 14.2x 12.6x
FCF Yield 5.89% 5.55% 2.96% 4.3% -1.14% 5.49% 7.03% 7.97%
Dividend per Share 2 4 4 5.95 6 8 8.571 9.497 10.28
Rate of return 2.13% 1.65% 1.7% 2.22% 3.55% 4.2% 4.65% 5.04%
EPS 2 6.94 8.77 9.93 13.31 12.52 13.27 14.74 15.94
Distribution rate 57.6% 45.6% 59.9% 45.1% 63.9% 64.6% 64.4% 64.5%
Net sales 1 7,816 8,805 11,040 12,064 12,730 13,567 14,805 15,647
EBITDA 1 1,090 1,392 1,669 1,948 1,987 2,094 2,293 2,451
EBIT 1 899.1 1,160 1,387 1,661 1,641 1,730 1,920 2,070
Net income 1 832.9 1,053 1,192 1,597 1,503 1,585 1,775 1,911
Net Debt 1 -1,576 -544 -2,728 -2,967 -1,101 -1,730 -2,508 -3,220
Reference price 2 188.20 242.80 349.80 270.00 225.10 204.10 204.10 204.10
Nbr of stocks (in thousands) 118,800 118,800 118,977 119,000 119,041 119,041 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.4x1.67x10.79x4.2% 6.48B
22.12x3.44x12.18x3.21% 198B
-95.17x15.05x87.15x-.--% 94.18B
10.43x1.15x6.02x4.61% 86.2B
14.4x2.62x9.91x5.71% 83.44B
19.22x5.04x12.44x2.94% 57.34B
13.94x2.03x8.52x5.59% 45.13B
20.34x1.51x9.55x0.97% 35.87B
18.91x1.52x9.57x1.57% 35.22B
16.88x2.18x10.11x5.12% 34.82B
Average 5.65x 3.62x 17.63x 3.39% 67.65B
Weighted average by Cap. 1.96x 4.42x 20.94x 3.29%

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 Arabian Internet and Communication Services Company