Valuation Etihad Etisalat Company

Equities

Market Closed - Saudi Arabian S.E. Other stock markets 05:50:00 13/05/2026 pm IST			5-day change	1st Jan Change
63.85 ^SAR	-0.39%		-1.16%	-3.26%

05/05	Goldman Sachs Affirms Mobily at Neutral Rating, Lifts PT	MT
29/04	FAB Revises Rating, Price Target on Saudi Telco Mobily After Q1 Growth	MT

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	23,986	26,758	37,768	41,118	50,655	49,082	-	-
Change	-	11.56%	41.15%	8.87%	23.19%	-3.11%	-	-
Enterprise Value (EV) ¹	35,890	36,956	45,687	47,527	57,666	54,708	53,396	52,009
Change	-	2.97%	23.62%	4.03%	21.33%	-5.13%	-2.4%	-2.6%
P/E ratio	22.4x	16.2x	16.9x	13.3x	14.6x	13x	11.9x	10.9x
PBR	1.58x	1.64x	2.14x	2.18x	2.49x	2.23x	2.09x	1.95x
PEG	-	0.3x	0.5x	0.3x	1.2x	1.49x	1.2x	1.29x
Capitalization / Revenue	1.62x	1.71x	2.25x	2.26x	2.58x	2.33x	2.21x	2.1x
EV / Revenue	2.42x	2.36x	2.73x	2.61x	2.94x	2.6x	2.41x	2.23x
EV / EBITDA	6.42x	6x	6.9x	6.61x	7.56x	6.77x	6.27x	5.77x
EV / EBIT	21.5x	16x	15.3x	13.5x	15x	13.2x	11.9x	10.8x
EV / FCF	13.4x	10.3x	11.9x	13x	16.8x	14.6x	12.3x	11x
FCF Yield	7.47%	9.72%	8.44%	7.72%	5.94%	6.84%	8.1%	9.12%
Dividend per Share ²	0.85	0.85	1.45	2.2	-	3.047	3.566	3.88
Rate of return	2.73%	2.45%	2.96%	4.12%	-	4.77%	5.59%	6.08%
EPS ²	1.39	2.15	2.9	4.03	4.51	4.902	5.388	5.845
Distribution rate	61.2%	39.5%	50%	54.6%	-	62.1%	66.2%	66.4%
Net sales ¹	14,834	15,669	16,763	18,206	19,642	21,067	22,163	23,332
EBITDA ¹	5,594	6,161	6,625	7,195	7,627	8,080	8,519	9,017
EBIT ¹	1,668	2,310	2,977	3,530	3,847	4,136	4,486	4,801
Net income ¹	1,072	1,657	2,232	3,107	3,466	3,769	4,146	4,408
Net Debt ¹	11,904	10,199	7,918	6,409	7,011	5,626	4,314	2,927
Reference price ²	31.15	34.75	49.05	53.40	66.00	63.85	63.85	63.85
Nbr of stocks (in thousands)	7,70,000	7,70,000	7,70,000	7,70,000	7,67,500	7,67,500	-	-
Announcement Date	21/02/22	20/02/23	20/02/24	19/02/25	16/02/26	-	-	-

¹SAR in Million²SAR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
ETIHAD ETISALAT COMPANY	13.08x	2.6x	6.79x	4.75%	1.31TCr
BHARTI AIRTEL LIMITED	38.04x	5.8x	10.19x	1.18%	11TCr
SOFTBANK CORP.	18.34x	2.13x	8.18x	4.03%	6.65TCr
MTN GROUP LIMITED	12.61x	1.86x	3.95x	2.63%	2.36TCr
CELLNEX TELECOM, S.A.	-115.05x	9.01x	11.25x	2.69%	2.24TCr
ROGERS COMMUNICATIONS INC.	13.49x	2.92x	6.6x	4.02%	1.97TCr
TELE2 AB	15.12x	5.11x	11.19x	5.74%	1.38TCr
VODAFONE IDEA LIMITED	-4.94x	7.39x	17.53x	-.--%	1.35TCr
FAR EASTONE TELECOMMUNICATIONS CO., LTD.	23.5x	3.21x	9.51x	4.32%	1.09TCr
SAFARICOM PLC	13.66x	3.25x	6.37x	5.8%	984.43Cr
Average	2.79x	4.33x	9.15x	3.52%	3.05TCr
Weighted average by Cap.	13.64x	4.47x	9.19x	2.77%