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 23,844 - -
Change - 29.01% 44.28% -22.8% -16.6% -11.02% - -
Enterprise Value (EV) 1 20,782 28,301 38,890 29,163 25,695 22,119 21,342 20,632
Change - 36.18% 37.42% -25.01% -11.89% -13.92% -3.51% -3.33%
P/E 27.1x 27.7x 35.2x 20.3x 18x 15.1x 13.6x 12.6x
PBR 9.85x 10.3x 12.5x 8.02x 6.25x 4.9x 4.26x 3.75x
PEG - 1.1x 2.7x 0.6x -3.03x 2.52x 1.2x 1.54x
Capitalization / Revenue 2.86x 3.28x 3.77x 2.66x 2.1x 1.76x 1.61x 1.52x
EV / Revenue 2.66x 3.21x 3.52x 2.42x 2.02x 1.63x 1.44x 1.32x
EV / EBITDA 19.1x 20.3x 23.3x 15x 12.9x 10.6x 9.32x 8.43x
EV / EBIT 23.1x 24.4x 28x 17.6x 15.7x 12.8x 11.1x 9.98x
EV / FCF 17x 18x 33.8x 23.3x -88.1x 17.8x 13.9x 12.3x
FCF Yield 5.89% 5.55% 2.96% 4.3% -1.14% 5.61% 7.18% 8.14%
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% 4.27% 4.73% 5.12%
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 2 188.20 242.80 349.80 270.00 225.10 200.30 200.30 200.30
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.($)
15.28x1.65x10.71x4.22% 6.43B
28.15x4.51x15.75x2.33% 272B
-91.12x14.39x83.34x-.--% 90.17B
10.21x1.12x5.88x4.73% 84.05B
13.47x2.45x9.09x6.14% 79.55B
18.39x4.85x11.97x3.1% 54.92B
13.6x1.99x8.34x5.73% 44.51B
18.97x1.52x9.56x1.51% 35.78B
19.31x1.42x9.05x1.03% 34.28B
15.52x1.98x9.21x5.57% 32.37B
Average 6.18x 3.59x 17.29x 3.43% 73.42B
Weighted average by Cap. 6.72x 4.56x 20.52x 3.05%

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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