Valuation Aramco

Equities

2222

SA14TG012N13

Integrated Oil & Gas

Market Closed - Saudi Arabian S.E. Other stock markets 12:20:00 12/02/2026 GMT			5-day change	1st Jan Change
26.00 ^SAR	+0.70%		+1.33%	+9.11%

01-28	SK Innovation posts quarterly profit surge, projects strong crack spreads	RE
01-28	Motiva Texas refinery's large coker malfunctions on Monday - filing	RE

Company Valuation: Aramco

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	6,995,905	7,155,811	7,058,889	7,982,949	6,786,661	6,288,222	6,288,222	-
Change	-	2.29%	-1.35%	13.09%	-14.99%	-7.34%	0%	-
Enterprise Value (EV) ¹	7,317,949	7,340,080	6,944,771	7,889,780	6,876,123	6,424,600	6,453,690	6,433,852
Change	-	0.3%	-5.39%	13.61%	-12.85%	-6.57%	0.45%	-0.31%
P/E ratio	37.6x	18.1x	11.8x	17.6x	17.2x	17x	17.2x	15.5x
PBR	1.88x	6.43x	4.87x	5.2x	4.65x	4.16x	4.01x	3.86x
PEG	-	0x	0.2x	-0.7x	-1.3x	-2.73x	-16.99x	1.4x
Capitalization / Revenue	8.12x	4.76x	3.11x	4.3x	3.77x	3.87x	4.12x	3.92x
EV / Revenue	8.49x	4.89x	3.06x	4.25x	3.82x	3.96x	4.23x	4.01x
EV / EBITDA	15.9x	8.56x	5.62x	8.17x	7.83x	7.64x	7.88x	7.16x
EV / EBIT	19.1x	9.51x	6.07x	9.09x	8.88x	8.7x	9.05x	8.12x
EV / FCF	39.7x	18.2x	12.5x	20.8x	21.5x	21.7x	23.5x	19.3x
FCF Yield	2.52%	5.49%	8.02%	4.81%	4.65%	4.62%	4.26%	5.19%
Dividend per Share ²	0.9256	1.157	-	1.695	1.776	1.323	1.351	1.404
Rate of return	3.2%	3.91%	-	5.14%	6.33%	5.09%	5.2%	5.4%
EPS ²	0.7686	1.636	2.473	1.87	1.63	1.529	1.513	1.683
Distribution rate	120%	70.7%	-	90.6%	109%	86.6%	89.3%	83.4%
Net sales ¹	862,091	1,501,758	2,266,373	1,856,373	1,801,674	1,623,054	1,524,623	1,603,043
EBITDA ¹	459,568	857,439	1,235,695	965,330	877,834	840,878	818,489	898,247
EBIT ¹	383,360	771,918	1,144,077	868,290	774,630	738,315	713,451	791,935
Net income ¹	184,926	395,203	597,215	452,753	393,891	371,313	368,359	413,936
Net Debt ¹	322,044	184,269	-114,118	-93,169	89,462	136,378	165,468	145,630
Reference price ²	28.93	29.59	29.18	33.00	28.05	26.00	26.00	26.00
Nbr of stocks (in thousands)	241,858,445	241,858,445	241,893,399	241,907,556	241,948,700	241,854,700	241,854,700	-
Announcement Date	22/03/21	21/03/22	13/03/23	10/03/24	04/03/25	-	-	-

¹SAR in Million²SAR

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

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.($)
ARAMCO	16.89x	3.93x	7.59x	5.12%	1,665B
CHEVRON CORPORATION	27.45x	2.17x	9.87x	3.69%	368B
PETROCHINA COMPANY LIMITED	9.83x	0.73x	4.49x	5.47%	279B
SHELL PLC	13.27x	1.01x	4.86x	3.62%	226B
TOTALENERGIES SE	11.54x	1.06x	4.94x	5.01%	163B
PETROBRAS	4.44x	1.76x	3.57x	8.73%	98.89B
EQUINOR ASA	12.93x	0.79x	2.15x	5.24%	71.05B
ENI S.P.A	13.78x	0.87x	4.28x	5.74%	65.73B
CENOVUS ENERGY INC.	14.51x	1.21x	6.53x	2.62%	41.5B
Average	13.85x	1.50x	5.36x	5.03%	330.97B
Weighted average by Cap.	16.36x	2.78x	6.88x	4.96%