Company Valuation: Aramex

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,003 5,154 3,353 3,221 3,324 2,460 - -
Change - -14.15% -34.94% -3.93% 3.18% -25.99% - -
Enterprise Value (EV) 1 6,544 6,590 4,853 4,582 4,699 3,867 3,693 3,420
Change - 0.7% -26.36% -5.58% 2.55% -17.71% -4.48% -7.4%
P/E 27.3x 31.2x 26x 22.7x 162x 19x 33.6x 22.4x
PBR 2.25x 2.05x 1.36x 1.28x 1.3x 0.92x - -
PEG - -1.3x -1.2x 2.2x -1.9x 0x -0.8x 0.4x
Capitalization / Revenue 0.99x 0.87x 0.59x 0.51x 0.52x 0.35x 0.37x 0.36x
EV / Revenue 1.08x 1.11x 0.85x 0.72x 0.74x 0.54x 0.56x 0.5x
EV / EBITDA 9.67x 10.7x 7.71x 7.05x 7.65x 5.37x 6.19x 4.86x
EV / EBIT 21.3x 26.9x 18.2x 15.4x 19.8x 13.5x 14.2x 10.8x
EV / FCF 34.7x 13.5x 12.8x 9.34x 11.7x 22.3x 13.5x 8.32x
FCF Yield 2.88% 7.39% 7.83% 10.7% 8.55% 4.48% 7.42% 12%
Dividend per Share 2 0.13 0.13 - - - - - -
Rate of return 3.17% 3.69% - - - - - -
EPS 2 0.15 0.113 0.088 0.097 0.014 0.0885 0.05 0.075
Distribution rate 86.7% 115% - - - - - -
Net sales 1 6,069 5,926 5,694 6,324 6,360 7,122 6,617 6,880
EBITDA 1 676.6 616 629.7 650.3 614 720.5 596.8 704.4
EBIT 1 306.7 245.3 266.7 296.7 237.7 286 259.7 316.8
Net income 1 225.4 165.4 129.3 141.8 20.58 132.5 8.4 45.8
Net Debt 1 541.3 1,436 1,500 1,361 1,375 1,407 1,234 960.4
Reference price 2 4.100 3.520 2.290 2.200 2.270 1.680 1.680 1.680
Nbr of stocks (in thousands) 1,464,100 1,464,100 1,464,100 1,464,100 1,464,100 1,464,100 - -
Announcement Date 2/10/22 2/9/23 2/8/24 2/11/25 2/10/26 - - -
1AED in Million2AED
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.8x0.55x5.14x-.--% 670M
31.44x1.31x11.17x0.53% 49.09B
24.06x1.13x11.92x3.19% 31.2B
9.41x0.42x4.57x2.98% 11.45B
19.27x0.75x6.66x1.73% 8.78B
17.23x1.16x4.33x5.83% 5.51B
20.31x2.19x16.97x2.77% 3.26B
16.6x1.6x9.46x4.31% 3.02B
16.04x0.56x6.52x3.77% 2.86B
Average 19.02x 1.07x 8.53x 2.79% 12.87B
Weighted average by Cap. 24.51x 1.14x 10.02x 2.07%

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