Company Valuation: Almarai Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 48,750 53,500 55,800 57,200 43,260 48,380 - -
Change - 9.74% 4.3% 2.51% -24.37% 11.84% - -
Enterprise Value (EV) 1 57,953 63,021 65,687 67,340 55,776 61,604 61,613 60,287
Change - 8.75% 4.23% 2.52% -17.17% 10.45% 0.02% -2.15%
P/E 30.7x 30.4x 27.2x 24.8x 17.4x 19.5x 17.6x 15.8x
PBR 3.02x 3.21x 3.14x 3.04x 2.11x 2.28x 2.13x 1.99x
PEG - 2.8x 1.7x 2x 2.36x 13.21x 1.6x 1.4x
Capitalization / Revenue 3.08x 2.86x 2.85x 2.73x 1.96x 2.03x 1.92x 1.82x
EV / Revenue 3.66x 3.37x 3.36x 3.21x 2.53x 2.59x 2.44x 2.26x
EV / EBITDA 15.3x 14.8x 14.5x 13.8x 9.96x 11.9x 11.1x 10.1x
EV / EBIT 27.4x 25.7x 23.5x 21.3x 18x 19.2x 17.6x 16x
EV / FCF 15.1x 24.9x 33.2x 56.4x -111x 67.2x 33.4x 22.2x
FCF Yield 6.6% 4.01% 3.01% 1.77% -0.9% 1.49% 3% 4.51%
Dividend per Share 2 1 1 1 1 1.15 1.163 1.215 1.315
Rate of return 2.05% 1.87% 1.79% 1.75% 2.66% 2.37% 2.48% 2.68%
EPS 2 1.59 1.76 2.05 2.31 2.48 2.517 2.786 3.11
Distribution rate 62.9% 56.8% 48.8% 43.3% 46.4% 46.2% 43.6% 42.3%
Net sales 1 15,850 18,722 19,576 20,980 22,065 23,777 25,239 26,646
EBITDA 1 3,787 4,256 4,541 4,890 5,600 5,166 5,557 5,961
EBIT 1 2,112 2,456 2,792 3,162 3,096 3,215 3,503 3,777
Net income 1 1,564 1,760 2,049 2,313 2,456 2,522 2,775 3,071
Net Debt 1 9,203 9,521 9,887 10,140 12,516 13,224 13,233 11,907
Reference price 2 48.75 53.50 55.80 57.20 43.26 49.00 49.00 49.00
Nbr of stocks (in thousands) 10,00,000 10,00,000 10,00,000 10,00,000 10,00,000 10,00,000 - -
Announcement Date 23/01/22 23/01/23 21/01/24 20/01/25 18/01/26 - - -
1SAR in Million2SAR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.47x2.62x12.04x2.37% 1.31TCr
20.59x2.83x14.1x3.98% 25TCr
19.76x2.48x14.81x3.32% 7.92TCr
17.08x1.78x10.05x3.66% 4.8TCr
15.05x0.54x9.83x2.56% 3.92TCr
21.33x3.23x13.13x3.28% 3.54TCr
37.07x3.21x18.45x0.98% 3.23TCr
-109.29x1.93x9.58x6.24% 3.04TCr
68.28x10.48x43.47x1.12% 2.99TCr
Average 12.15x 3.23x 16.16x 3.06% 6.2TCr
Weighted average by Cap. 16.22x 2.93x 15.02x 3.47%

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 Almarai Company