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 26,042 - -
Change - 29.01% 44.28% -22.8% -16.6% -2.81% - -
Enterprise Value (EV) 1 20,782 28,301 38,890 29,163 25,695 24,192 23,778 23,052
Change - 36.18% 37.42% -25.01% -11.89% -5.85% -1.71% -3.05%
P/E 27.1x 27.7x 35.2x 20.3x 18x 16.3x 14.6x 13.7x
PBR 9.85x 10.3x 12.5x 8.02x 6.25x 5.32x 4.65x 4.12x
PEG - 1.1x 2.7x 0.6x -3.03x 2.36x 1.3x 1.99x
Capitalization / Revenue 2.86x 3.28x 3.77x 2.66x 2.1x 1.91x 1.75x 1.67x
EV / Revenue 2.66x 3.21x 3.52x 2.42x 2.02x 1.77x 1.6x 1.47x
EV / EBITDA 19.1x 20.3x 23.3x 15x 12.9x 11.4x 10.2x 9.35x
EV / EBIT 23.1x 24.4x 28x 17.6x 15.7x 13.8x 12.2x 11.1x
EV / FCF 17x 18x 33.8x 23.3x -88.1x 17x 15.6x 13.9x
FCF Yield 5.89% 5.55% 2.96% 4.3% -1.14% 5.9% 6.43% 7.17%
Dividend per Share 2 4 4 5.95 6 8 8.671 9.794 10.57
Rate of return 2.13% 1.65% 1.7% 2.22% 3.55% 3.96% 4.48% 4.83%
EPS 2 6.94 8.77 9.93 13.31 12.52 13.38 14.94 15.96
Distribution rate 57.6% 45.6% 59.9% 45.1% 63.9% 64.8% 65.6% 66.2%
Net sales 1 7,816 8,805 11,040 12,064 12,730 13,635 14,875 15,639
EBITDA 1 1,090 1,392 1,669 1,948 1,987 2,126 2,327 2,464
EBIT 1 899.1 1,160 1,387 1,661 1,641 1,757 1,954 2,085
Net income 1 832.9 1,053 1,192 1,597 1,503 1,597 1,795 1,897
Net Debt 1 -1,576 -544 -2,728 -2,967 -1,101 -1,851 -2,264 -2,990
Reference price 2 188.20 242.80 349.80 270.00 225.10 218.70 218.70 218.70
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.34x1.77x11.38x3.96% 6.94B
22.15x3.63x12.69x3% 212B
-131.72x18.37x101.87x-.--% 118B
13.08x1.46x7.67x3.67% 108B
13.48x2.45x9.24x6.1% 78.59B
19.72x5.2x12.78x2.88% 58.2B
22.67x1.87x11.67x1.29% 44.4B
13.12x1.89x8x5.94% 42.26B
20.9x1.59x10.12x0.89% 40.58B
98.2x9.76x36.48x-.--% 34.12B
Average 10.79x 4.80x 22.19x 2.77% 74.37B
Weighted average by Cap. -1.88x 5.61x 26.42x 2.76%

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