Valuation Aramco

Equities

2222

SA14TG012N13

Integrated Oil & Gas

Market Closed - Saudi Arabian S.E. Other stock markets 13:20:00 11/05/2026 BST			5-day change	1st Jan Change
27.64 ^SAR	+0.80%		+0.51%	+15.99%

05-03	Mideast stocks-Gulf bourses close higher, but U.S.-Iran uncertainty caps upside	RE
05-01	Saudi liquor store runs short because of Iran war bottleneck	RE

Company Valuation: Aramco

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	7,155,811	7,058,889	7,982,949	6,786,661	5,763,398	6,686,321	-	-
Change	-	-1.35%	13.09%	-14.99%	-15.08%	16.01%	-	-
Enterprise Value (EV) ¹	7,340,080	6,944,771	7,889,780	6,876,123	5,831,909	6,743,424	6,833,042	6,737,831
Change	-	-5.39%	13.61%	-12.85%	-15.19%	15.63%	1.33%	-1.39%
P/E ratio	18.1x	11.8x	17.6x	17.2x	16.5x	14.5x	15.2x	15.1x
PBR	6.43x	4.87x	5.2x	4.65x	3.86x	4.06x	3.97x	3.72x
PEG	-	0.2x	-0.7x	-1.3x	-1.4x	0.4x	-3.16x	17x
Capitalization / Revenue	4.76x	3.11x	4.3x	3.77x	3.45x	3.87x	3.74x	3.85x
EV / Revenue	4.89x	3.06x	4.25x	3.82x	3.49x	3.9x	3.82x	3.88x
EV / EBITDA	8.56x	5.62x	8.17x	7.83x	7.29x	6.43x	7.19x	6.97x
EV / EBIT	9.51x	6.07x	9.09x	8.88x	8.25x	7.33x	7.96x	7.7x
EV / FCF	18.2x	12.5x	20.8x	21.5x	18.2x	19.2x	18.6x	16.4x
FCF Yield	5.49%	8.02%	4.81%	4.65%	5.49%	5.2%	5.37%	6.11%
Dividend per Share ²	1.157	1.191	1.695	1.776	1.325	1.71	1.503	1.558
Rate of return	3.91%	4.08%	5.14%	6.33%	5.56%	6.19%	5.44%	5.64%
EPS ²	1.636	2.473	1.87	1.63	1.44	1.91	1.818	1.834
Distribution rate	70.7%	48.2%	90.6%	109%	92%	89.5%	82.6%	84.9%
Net sales ¹	1,501,758	2,266,373	1,856,373	1,801,674	1,671,204	1,729,000	1,786,594	1,735,713
EBITDA ¹	857,439	1,235,695	965,330	877,834	799,913	1,049,000	950,465	966,389
EBIT ¹	771,918	1,144,077	868,290	774,630	706,822	920,000	858,741	874,662
Net income ¹	395,203	597,215	452,753	393,891	348,042	461,000	438,202	440,232
Net Debt ¹	184,269	-114,118	-93,169	89,462	68,511	57,104	146,721	51,510
Reference price ²	29.59	29.18	33.00	28.05	23.83	27.64	27.64	27.64
Nbr of stocks (in thousands)	241,858,445	241,893,399	241,907,556	241,948,700	241,854,700	241,907,400	-	-
Announcement Date	21/03/22	13/03/23	10/03/24	04/03/25	10/03/26	-	-	-

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	14.28x	3.57x	6.66x	5.06%	1,768B
CHEVRON CORPORATION	13.45x	1.71x	5.68x	3.93%	359B
PETROCHINA COMPANY LIMITED	8.63x	0.63x	4.07x	5.86%	293B
SHELL PLC	8.02x	0.84x	4.07x	3.61%	237B
TOTALENERGIES SE	7.55x	1.05x	4x	4.55%	190B
CNOOC LIMITED	6.3x	1.82x	2.94x	7.07%	166B
PETROBRAS	4.25x	1.61x	3.16x	12.53%	127B
EQUINOR ASA	7.43x	0.81x	1.9x	4.3%	91.32B
ENI S.P.A.	9.11x	0.74x	3.82x	4.81%	78.83B
Average	8.78x	1.42x	4.03x	5.75%	367.9B
Weighted average by Cap.	11.76x	2.46x	5.47x	5.24%