Company Valuation: Saudi Telecom Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 224,480 182,648 201,374 199,477 214,461 213,402 - -
Change - -18.64% 10.25% -0.94% 7.51% -0.49% - -
Enterprise Value (EV) 1 220,780 170,650 199,349 186,017 216,826 215,997 215,655 219,541
Change - -22.71% 16.82% -6.69% 16.56% -0.38% -0.16% 1.8%
P/E 19.9x 15x 15.2x 8.08x 14.5x 14.8x 14.2x 13.4x
PBR 3.24x 2.48x 2.55x 2.23x 2.57x 2.52x 2.42x 2.32x
PEG - 1.93x 1.69x 0.1x -0.4x -5.1x 3.21x 2.29x
Capitalization / Revenue 3.54x 2.71x 2.78x 2.63x 2.76x 2.61x 2.49x 2.38x
EV / Revenue 3.48x 2.53x 2.76x 2.45x 2.79x 2.64x 2.52x 2.44x
EV / EBITDA 9.67x 6.8x 8.08x 7.77x 8.86x 8.24x 7.79x 7.49x
EV / EBIT 16.8x 11.3x 14x 12.9x 15x 13.9x 13x 12.5x
EV / FCF 73.3x 9.15x 15.5x 22.7x 33.4x 17.3x 18.9x 17.4x
FCF Yield 1.36% 10.9% 6.45% 4.4% 2.99% 5.8% 5.3% 5.74%
Dividend per Share 2 1.6 1.6 1.6 1.75 2.2 2.208 2.273 2.431
Rate of return 3.56% 4.37% 3.96% 4.38% 5.12% 5.17% 5.32% 5.69%
EPS 2 2.264 2.44 2.66 4.95 2.97 2.884 3.011 3.188
Distribution rate 70.7% 65.6% 60.2% 35.4% 74.1% 76.6% 75.5% 76.3%
Net sales 1 63,417 67,432 72,337 75,893 77,819 81,741 85,731 89,793
EBITDA 1 22,841 25,079 24,683 23,926 24,469 26,211 27,683 29,294
EBIT 1 13,128 15,088 14,200 14,426 14,438 15,580 16,531 17,524
Net income 1 11,311 12,171 13,295 24,689 14,828 14,429 15,111 16,090
Net Debt 1 -3,699 -11,997 -2,025 -13,460 2,364 2,595 2,253 6,139
Reference price 2 44.96 36.60 40.40 40.00 42.98 42.74 42.74 42.74
Nbr of stocks (in thousands) 4,992,873 4,990,371 4,984,506 4,986,916 4,989,794 4,993,024 - -
Announcement Date 21/02/22 20/02/23 19/02/24 26/02/25 17/02/26 - - -
1SAR in Million2SAR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.82x2.64x8.24x5.17% 56.84B
11.09x1.31x4.17x6.97% 223B
10.16x2.47x6.53x6.14% 191B
12.55x2.11x5.45x4.32% 141B
13.34x1.84x8.02x3.14% 88.05B
11.82x0.9x3.37x6.46% 80.57B
11.27x1.75x4.42x2.9% 62.27B
22.97x5.3x19.35x4.76% 54.41B
14.51x2.69x6.01x4.48% 50.19B
10.36x1.69x5.23x5.7% 41.34B
Average 13.29x 2.27x 7.08x 5% 98.88B
Weighted average by Cap. 12.40x 2.07x 6.31x 5.39%

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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