Company Valuation: Al Rajhi Banking and Investment Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,54,500 3,00,800 3,46,000 3,78,400 3,90,000 4,22,800 - -
Change - -15.15% 15.03% 9.36% 3.07% 8.41% - -
Enterprise Value (EV) 3,54,500 3,00,800 3,46,000 3,78,400 3,90,000 4,22,800 4,22,800 4,22,800
Change - -15.15% 15.03% 9.36% 3.07% 8.41% 0% 0%
P/E ratio 24x 17.7x 21.9x 20.3x 16.7x 16x 14.2x 12.7x
PBR 5.27x 3x 3.24x 3.8x 2.73x 3.4x 2.98x 2.68x
PEG - 1.2x -3.2x 1.1x 0.7x 1.2x 1.2x 1.1x
Capitalization / Revenue 13.8x 10.5x 12.6x 11.8x 9.98x 9.62x 8.8x 7.96x
EV / Revenue 0x 0x 0x 0x 0x 9.62x 8.8x 7.96x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 12.5x 11.2x 10x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.625 1.25 1.15 2.71 2.5 3.659 4.017 4.459
Rate of return 0.71% 1.66% 1.33% 2.86% 2.56% 3.46% 3.8% 4.22%
EPS 2 3.688 4.24 3.95 4.67 5.85 6.615 7.418 8.296
Distribution rate 16.9% 29.5% 29.1% 58% 42.7% 55.3% 54.1% 53.7%
Net sales 1 25,716 28,575 27,531 32,055 39,094 43,969 48,062 53,125
EBITDA - - - - - - - -
EBIT 1 18,790 21,124 20,033 24,085 29,967 33,748 37,770 42,145
Net income 1 14,746 17,151 16,621 19,722 24,792 26,071 29,787 32,784
Net Debt - - - - - - - -
Reference price 2 88.62 75.20 86.50 94.60 97.50 105.70 105.70 105.70
Nbr of stocks (in thousands) 40,00,000 40,00,000 40,00,000 40,00,000 40,00,000 40,00,000 - -
Announcement Date 13/02/22 30/01/23 01/02/24 29/01/25 27/01/26 - - -
1SAR in Million2SAR
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.05x - - 3.45% 11TCr
14.91x - - 1.92% 82TCr
13.81x - - 2.06% 38TCr
5.68x - - 5.48% 35TCr
14.28x - - 4.24% 29TCr
5.46x - - 5.46% 27TCr
13.77x - - 1.96% 27TCr
14.95x - - 2.92% 24TCr
5.61x - - 5.41% 23TCr
15.51x - - 2.49% 22TCr
Average 12.00x 3.54% 31.79TCr
Weighted average by Cap. 12.21x 3.27%

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 Al Rajhi Banking and Investment Corporation