Company Valuation: Saudi Telecom Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 224,480 182,648 201,374 199,477 214,461 215,460 - -
Change - -18.64% 10.25% -0.94% 7.51% 0.47% - -
Enterprise Value (EV) 1 220,780 170,650 199,349 186,017 216,826 217,693 213,598 217,283
Change - -22.71% 16.82% -6.69% 16.56% 0.4% -1.88% 1.73%
P/E 19.9x 15x 15.2x 8.08x 14.5x 15.4x 14.4x 13.6x
PBR 3.24x 2.48x 2.55x 2.23x 2.57x 2.5x 2.42x 2.32x
PEG - 1.93x 1.69x 0.1x -0.4x -2.74x 2.18x 2.21x
Capitalization / Revenue 3.54x 2.71x 2.78x 2.63x 2.76x 2.65x 2.52x 2.41x
EV / Revenue 3.48x 2.53x 2.76x 2.45x 2.79x 2.68x 2.5x 2.43x
EV / EBITDA 9.67x 6.8x 8.08x 7.77x 8.86x 8.39x 7.74x 7.42x
EV / EBIT 16.8x 11.3x 14x 12.9x 15x 14.1x 13x 12.4x
EV / FCF 73.3x 9.15x 15.5x 22.7x 33.4x 13.7x 19.6x 18x
FCF Yield 1.36% 10.9% 6.45% 4.4% 2.99% 7.29% 5.1% 5.57%
Dividend per Share 2 1.6 1.6 1.6 1.75 2.2 2.204 2.265 2.414
Rate of return 3.56% 4.37% 3.96% 4.38% 5.12% 5.1% 5.25% 5.59%
EPS 2 2.264 2.44 2.66 4.95 2.97 2.803 2.988 3.172
Distribution rate 70.7% 65.6% 60.2% 35.4% 74.1% 78.6% 75.8% 76.1%
Net sales 1 63,417 67,432 72,337 75,893 77,819 81,247 85,522 89,587
EBITDA 1 22,841 25,079 24,683 23,926 24,469 25,947 27,586 29,292
EBIT 1 13,128 15,088 14,200 14,426 14,438 15,409 16,409 17,524
Net income 1 11,311 12,171 13,295 24,689 14,828 14,077 14,994 16,007
Net Debt 1 -3,699 -11,997 -2,025 -13,460 2,364 2,233 -1,862 1,824
Reference price 2 44.96 36.60 40.40 40.00 42.98 43.18 43.18 43.18
Nbr of stocks (in thousands) 4,992,873 4,990,371 4,984,506 4,986,916 4,989,794 4,989,807 - -
Announcement Date 2/21/22 2/20/23 2/19/24 2/26/25 2/17/26 - - -
1SAR in Million2SAR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.41x2.68x8.39x5.1% 57.37B
11.39x1.32x4.09x7.04% 224B
9.11x2.38x6.37x6.47% 182B
13.7x2.13x5.55x4.17% 149B
13.45x2.04x5.15x2.39% 79.13B
12.16x0.82x3.08x6.63% 77.03B
12.03x1.75x7.5x3.57% 75.8B
23.9x5.38x19.65x4.48% 56.14B
16.05x1.79x5.62x4.78% 50.1B
14.78x2.63x6.04x4.6% 48.02B
Average 14.20x 2.29x 7.14x 4.92% 99.89B
Weighted average by Cap. 12.92x 2.08x 6.28x 5.36%

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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