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 24,130 - -
Change - 29.01% 44.28% -22.8% -16.6% -9.95% - -
Enterprise Value (EV) 1 20,782 28,301 38,890 29,163 25,695 22,405 21,627 20,918
Change - 36.18% 37.42% -25.01% -11.89% -12.81% -3.47% -3.28%
P/E 27.1x 27.7x 35.2x 20.3x 18x 15.3x 13.8x 12.7x
PBR 9.85x 10.3x 12.5x 8.02x 6.25x 4.95x 4.31x 3.8x
PEG - 1.1x 2.7x 0.6x -3.03x 2.56x 1.2x 1.55x
Capitalization / Revenue 2.86x 3.28x 3.77x 2.66x 2.1x 1.78x 1.63x 1.54x
EV / Revenue 2.66x 3.21x 3.52x 2.42x 2.02x 1.65x 1.46x 1.34x
EV / EBITDA 19.1x 20.3x 23.3x 15x 12.9x 10.7x 9.44x 8.55x
EV / EBIT 23.1x 24.4x 28x 17.6x 15.7x 13x 11.3x 10.1x
EV / FCF 17x 18x 33.8x 23.3x -88.1x 18.1x 14.1x 12.5x
FCF Yield 5.89% 5.55% 2.96% 4.3% -1.14% 5.53% 7.09% 8.03%
Dividend per Share 2 4 4 5.95 6 8 8.558 9.484 10.26
Rate of return 2.13% 1.65% 1.7% 2.22% 3.55% 4.22% 4.68% 5.06%
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% 64.5% 64.4% 64.4%
Net sales 1 7,816 8,805 11,040 12,064 12,730 13,573 14,805 15,647
EBITDA 1 1,090 1,392 1,669 1,948 1,987 2,091 2,290 2,448
EBIT 1 899.1 1,160 1,387 1,661 1,641 1,728 1,917 2,067
Net income 1 832.9 1,053 1,192 1,597 1,503 1,590 1,775 1,911
Net Debt 1 -1,576 -544 -2,728 -2,967 -1,101 -1,725 -2,502 -3,212
Reference price 2 188.20 242.80 349.80 270.00 225.10 202.70 202.70 202.70
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.53x1.68x10.9x4.15% 6.53B
27.83x4.47x15.6x2.36% 269B
-91.48x14.45x83.68x-.--% 90.53B
12.74x2.31x8.57x6.48% 75.45B
9.74x1.07x5.6x4.95% 80.24B
18.66x4.9x12.1x3.07% 55.22B
12.77x1.85x7.76x6.08% 41.94B
12.84x1.47x10.06x1.26% 34.58B
18.45x1.35x8.62x1.07% 32.51B
14.09x1.78x8.26x6.14% 29.43B
Average 5.12x 3.53x 17.12x 3.56% 71.55B
Weighted average by Cap. 5.70x 4.58x 20.69x 3.12%

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