Company Valuation: Arabian Internet and Communication Services Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,358 28,845 41,618 32,130 26,796 24,637 - -
Change - 29.01% 44.28% -22.8% -16.6% -8.06% - -
Enterprise Value (EV) 1 20,782 28,301 38,890 29,163 25,695 22,575 22,168 21,459
Change - 36.18% 37.42% -25.01% -11.89% -12.14% -1.8% -3.2%
P/E 27.1x 27.7x 35.2x 20.3x 18x 15.8x 14x 12.9x
PBR 9.85x 10.3x 12.5x 8.02x 6.25x 5.04x 4.39x 3.87x
PEG - 1.1x 2.7x 0.6x -3.03x 3.34x 1.1x 1.57x
Capitalization / Revenue 2.86x 3.28x 3.77x 2.66x 2.1x 1.81x 1.66x 1.57x
EV / Revenue 2.66x 3.21x 3.52x 2.42x 2.02x 1.66x 1.49x 1.37x
EV / EBITDA 19.1x 20.3x 23.3x 15x 12.9x 10.7x 9.59x 8.67x
EV / EBIT 23.1x 24.4x 28x 17.6x 15.7x 13x 11.5x 10.3x
EV / FCF 17x 18x 33.8x 23.3x -88.1x 15.8x 14.5x 12.8x
FCF Yield 5.89% 5.55% 2.96% 4.3% -1.14% 6.32% 6.91% 7.83%
Dividend per Share 2 4 4 5.95 6 8 8.613 9.558 10.38
Rate of return 2.13% 1.65% 1.7% 2.22% 3.55% 4.16% 4.62% 5.02%
EPS 2 6.94 8.77 9.93 13.31 12.52 13.11 14.8 16.02
Distribution rate 57.6% 45.6% 59.9% 45.1% 63.9% 65.7% 64.6% 64.8%
Net sales 1 7,816 8,805 11,040 12,064 12,730 13,617 14,837 15,690
EBITDA 1 1,090 1,392 1,669 1,948 1,987 2,110 2,311 2,474
EBIT 1 899.1 1,160 1,387 1,661 1,641 1,741 1,935 2,086
Net income 1 832.9 1,053 1,192 1,597 1,503 1,504 1,775 1,911
Net Debt 1 -1,576 -544 -2,728 -2,967 -1,101 -2,062 -2,470 -3,178
Reference price 2 188.20 242.80 349.80 270.00 225.10 206.90 206.90 206.90
Nbr of stocks (in thousands) 1,18,800 1,18,800 1,18,977 1,19,000 1,19,041 1,19,078 - -
Announcement Date 20/02/22 28/02/23 27/02/24 17/02/25 16/02/26 - - -
1SAR in Million2SAR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.86x1.67x10.76x4.14% 656.21Cr
23.25x3.75x13.1x2.88% 22TCr
-115.3x18.35x105.96x-.--% 11TCr
13.11x1.45x7.6x3.65% 11TCr
15.29x2.8x10.56x5.37% 8.93TCr
19.78x5.21x12.81x2.88% 5.98TCr
15.31x2.24x9.49x5.1% 4.95TCr
22.87x1.75x11.09x0.83% 4.31TCr
21.64x1.77x10.98x1.35% 4.19TCr
18.53x2.38x11.3x4.67% 3.85TCr
Average 5.03x 4.14x 20.36x 3.09% 7.72TCr
Weighted average by Cap. -0.75x 5.19x 25.16x 2.9%

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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