Arabian Drilling Company

SASE:2381 Stock Report

Market Cap: ر.س6.9b

Arabian Drilling Valuation

Is 2381 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2381 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ر.س129.89
Fair Value
40.3% undervalued intrinsic discount
12
Number of Analysts

Below Fair Value: 2381 (SAR77.5) is trading below our estimate of fair value (SAR129.89)

Significantly Below Fair Value: 2381 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2381?

Key metric: As 2381 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2381. This is calculated by dividing 2381's market cap by their current earnings.
What is 2381's PE Ratio?
PE Ratio29x
Earningsر.س237.61m
Market Capر.س6.90b

Price to Earnings Ratio vs Peers

How does 2381's PE Ratio compare to its peers?

The above table shows the PE ratio for 2381 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.7x
2382 ADES Holding
22.3x15.38%ر.س17.6b
4030 National Shipping Company of Saudi Arabia
13.6xn/aر.س26.1b
SDRL Seadrill
25.2x62.26%US$2.0b
ODL Odfjell Drilling
17.7x14.57%NOK 18.9b
2381 Arabian Drilling
29x25.11%ر.س6.9b

Price-To-Earnings vs Peers: 2381 is expensive based on its Price-To-Earnings Ratio (29x) compared to the peer average (19.7x).

Price to Earnings Ratio vs Industry

How does 2381's PE Ratio compare vs other companies in the Asian Energy Services Industry?

10 CompaniesPrice / EarningsEstimated GrowthMarket Cap
2381 29.0xIndustry Avg. 17.2xNo. of Companies14PE01224364860+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2381 is expensive based on its Price-To-Earnings Ratio (29x) compared to the Asian Energy Services industry average (17.2x).

Price to Earnings Ratio vs Fair Ratio

What is 2381's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2381 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29x
Fair PE Ratio21.1x

Price-To-Earnings vs Fair Ratio: 2381 is expensive based on its Price-To-Earnings Ratio (29x) compared to the estimated Fair Price-To-Earnings Ratio (21.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2381 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentر.س77.50
ر.س90.73
+17.08%
16.45%ر.س118.00ر.س63.00n/a12
Sep ’26ر.س73.60
ر.س89.23
+21.24%
17.71%ر.س118.00ر.س63.00n/a12
Aug ’26ر.س75.10
ر.س96.81
+28.91%
11.02%ر.س118.00ر.س76.00n/a11
Jul ’26ر.س78.90
ر.س106.03
+34.39%
16.53%ر.س142.50ر.س85.00n/a12
Jun ’26ر.س82.00
ر.س111.37
+35.81%
20.87%ر.س163.00ر.س85.00n/a12
May ’26ر.س85.40
ر.س116.58
+36.51%
17.94%ر.س163.00ر.س94.00n/a11
Apr ’26ر.س95.80
ر.س127.32
+32.90%
16.02%ر.س163.00ر.س94.00n/a12
Mar ’26ر.س100.20
ر.س140.45
+40.17%
12.30%ر.س170.00ر.س116.00n/a11
Feb ’26ر.س106.20
ر.س140.45
+32.25%
12.30%ر.س170.00ر.س116.00n/a11
Jan ’26ر.س111.80
ر.س140.85
+25.98%
11.93%ر.س170.00ر.س116.00n/a11
Dec ’25ر.س113.00
ر.س142.83
+26.40%
11.36%ر.س170.00ر.س120.00n/a10
Nov ’25ر.س110.00
ر.س144.43
+31.30%
10.59%ر.س170.00ر.س120.00n/a10
Oct ’25ر.س115.00
ر.س146.43
+27.33%
11.52%ر.س170.00ر.س120.00ر.س78.1010
Sep ’25ر.س119.00
ر.س151.08
+26.96%
11.66%ر.س190.00ر.س126.10ر.س73.6010
Aug ’25ر.س128.20
ر.س156.19
+21.83%
12.09%ر.س190.00ر.س135.00ر.س75.109
Jul ’25ر.س135.00
ر.س164.40
+21.78%
12.14%ر.س200.00ر.س136.00ر.س78.909
Jun ’25ر.س134.80
ر.س166.76
+23.71%
12.12%ر.س200.00ر.س136.00ر.س82.0010
May ’25ر.س151.00
ر.س173.56
+14.94%
10.63%ر.س200.00ر.س136.00ر.س85.409
Apr ’25ر.س168.00
ر.س178.73
+6.39%
8.87%ر.س209.00ر.س155.60ر.س95.809
Mar ’25ر.س175.80
ر.س182.59
+3.86%
8.00%ر.س209.00ر.س156.00ر.س100.208
Feb ’25ر.س173.60
ر.س182.59
+5.18%
8.00%ر.س209.00ر.س156.00ر.س106.208
Jan ’25ر.س194.20
ر.س180.67
-6.97%
9.82%ر.س213.00ر.س156.00ر.س111.807
Dec ’24ر.س175.00
ر.س178.37
+1.93%
9.68%ر.س213.00ر.س156.00ر.س113.007
Nov ’24ر.س174.80
ر.س173.65
-0.66%
10.55%ر.س215.00ر.س152.00ر.س110.008
Oct ’24ر.س189.40
ر.س169.46
-10.53%
4.86%ر.س181.10ر.س155.60ر.س115.007
ر.س90.73
Fair Value
14.6% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/03 19:24
End of Day Share Price 2025/10/02 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Arabian Drilling Company is covered by 17 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jassim Al-JubranAljazira Capital Company
Mazen Al-SudairiAl Rajhi Capital
null nullAl Rajhi Capital