Company Valuation: Saudi Telecom Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 224,480 182,648 201,374 199,477 214,461 217,256 - -
Change - -18.64% 10.25% -0.94% 7.51% 1.3% - -
Enterprise Value (EV) 1 220,780 170,650 199,349 186,017 216,826 221,896 215,395 219,080
Change - -22.71% 16.82% -6.69% 16.56% 2.34% -2.93% 1.71%
P/E 19.9x 15x 15.2x 8.08x 14.5x 15.4x 14.6x 13.7x
PBR 3.24x 2.48x 2.55x 2.23x 2.57x 2.52x 2.44x 2.34x
PEG - 1.93x 1.69x 0.1x -0.4x -3.28x 2.62x 2.23x
Capitalization / Revenue 3.54x 2.71x 2.78x 2.63x 2.76x 2.67x 2.54x 2.43x
EV / Revenue 3.48x 2.53x 2.76x 2.45x 2.79x 2.73x 2.52x 2.45x
EV / EBITDA 9.67x 6.8x 8.08x 7.77x 8.86x 8.58x 7.81x 7.48x
EV / EBIT 16.8x 11.3x 14x 12.9x 15x 14.7x 13.1x 12.5x
EV / FCF 73.3x 9.15x 15.5x 22.7x 33.4x 17.6x 19.8x 18.1x
FCF Yield 1.36% 10.9% 6.45% 4.4% 2.99% 5.69% 5.06% 5.52%
Dividend per Share 2 1.6 1.6 1.6 1.75 2.2 2.208 2.268 2.414
Rate of return 3.56% 4.37% 3.96% 4.38% 5.12% 5.07% 5.21% 5.54%
EPS 2 2.264 2.44 2.66 4.95 2.97 2.83 2.988 3.172
Distribution rate 70.7% 65.6% 60.2% 35.4% 74.1% 78% 75.9% 76.1%
Net sales 1 63,417 67,432 72,337 75,893 77,819 81,362 85,522 89,587
EBITDA 1 22,841 25,079 24,683 23,926 24,469 25,871 27,586 29,292
EBIT 1 13,128 15,088 14,200 14,426 14,438 15,133 16,409 17,524
Net income 1 11,311 12,171 13,295 24,689 14,828 14,129 14,994 16,007
Net Debt 1 -3,699 -11,997 -2,025 -13,460 2,364 4,639 -1,862 1,824
Reference price 2 44.96 36.60 40.40 40.00 42.98 43.54 43.54 43.54
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.($)
15.38x2.73x8.58x5.07% 57.85B
11.54x1.36x4.22x6.85% 231B
10.32x2.49x6.59x6.02% 195B
13.59x2.16x4.98x4.05% 154B
11.92x0.86x3.23x6.67% 80.51B
12.01x1.75x7.48x3.59% 77.76B
12.37x1.95x4.94x2.56% 74.64B
23.84x5.35x19.55x4.52% 56.39B
14.36x1.78x5.5x4.8% 50.31B
15.41x2.75x6.26x4.48% 49.72B
Average 14.07x 2.32x 7.13x 4.86% 102.73B
Weighted average by Cap. 12.96x 2.11x 6.25x 5.26%

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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