Saudi Arabian Undervalued over 20% based on DCF

Etihad Etisalat

Market Cap: ر.س50.7b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Almarai

Market Cap: ر.س43.9b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

ADES Holding

Market Cap: ر.س20.1b

Through its subsidiaries, provides oil and gas drilling and production services in Egypt, Algeria, Tunisia, the Kingdom of Saudi Arabia, Kuwait, Qatar, India, Southeast Asia, West/Central Africa, Norway, and other regions.

Flynas

Market Cap: ر.س8.5b

flynas Company operates airlines in Saudi Arabia and the Middle East.

Dr. Soliman Abdel Kader Fakeeh Hospital

Market Cap: ر.س7.8b

Dr. Soliman Abdel Kader Fakeeh Hospital Company, together with its subsidiaries, establishes, operates, and manages hospitals, clinics, medical, educational, and training centers in the Kingdom of Saudi Arabia.

Saudi Research and Media Group

Market Cap: ر.س6.7b

Operates as a publishing company in Saudi Arabia, Europe, North America, Asia, North Africa, the Middle East, and Africa.

Saudi Chemical Holding

Market Cap: ر.س6.5b

Engages in the manufacture, distribution, and retail of medicines, medical materials and syrups, pharmaceutical preparations, medical and surgical tools and equipment, supplies of hospitals and medical centers and its related spare parts, and food products.

National Medical Care

Market Cap: ر.س6.3b

Owns, establishes, equips, manages, maintains, and operates healthcare facilities in the Kingdom of Saudi Arabia.

National Industrialization

Market Cap: ر.س6.0b

Operates in the petrochemicals, chemicals, metals, wires, and industrial and automotive batteries sectors in the Kingdom of Saudi Arabia, rest of the Middle East, Asia, Africa, Europe, and internationally.

United Electronics

Market Cap: ر.س6.0b

Engages in the wholesale and retail trade of electric appliances, electronic gadgets, computers and their spare parts and accessories, furniture, and office equipment and tools in the Kingdom of Saudi Arabia and internationally.

Almoosa Health

Market Cap: ر.س6.0b

Operates as a private healthcare provider in the Kingdom of Saudi Arabia.

Al-Dawaa Medical Services

Market Cap: ر.س4.3b

Primarily operates as a pharmaceutical retail company in the Kingdom of Saudi Arabia and Kingdom of Bahrain.

Middle East Healthcare

Market Cap: ر.س3.3b

A healthcare provider, owns and operates a network of hospitals under the Saudi German Hospital name in the Kingdom of Saudi Arabia and internationally.

First Milling

Market Cap: ر.س3.1b

Produces and sells flour products in the Kingdom of Saudi Arabia.

Jahez International Company for Information Systems Technology

Market Cap: ر.س2.3b

Operates an online food delivery platform under the Jahez brand name in Saudi Arabia.

Saudi Paper Manufacturing

Market Cap: ر.س2.2b

Manufactures and sells paper pulp and tissue paper products in the Kingdom of Saudi Arabia, Gulf Cooperation Council countries, and internationally.

Fourth Milling

Market Cap: ر.س2.1b

Engages in the production of flour, feed, bran, and wheat derivatives in the Kingdom of Saudi Arabia and internationally.

Jadwa Investment - Jadwa Reit Saudi Fund

Market Cap: ر.س2.1b

n/a

Arabian Mills for Food Products

Market Cap: ر.س2.1b

Produces and sells wheat and feed products in the Kingdom of Saudi Arabia.

Edarat Communication and Information Technology

Market Cap: ر.س1.8b

Edarat Communication and Information Technology Co.

Almawarid Manpower

Market Cap: ر.س1.8b

Provides recruitment services for domestic workers, expatriate labor services, and operates temporary employment agency for domestic services in the Kingdom of Saudi Arabia.

Middle East Company for Manufacturing and Producing Paper

Market Cap: ر.س1.5b

Engages in the production and sale of container boards and industrial papers in the Kingdom of Saudi Arabia, the Middle East, Africa, Asia, the Americas, and Europe.

Alandalus Property

Market Cap: ر.س1.5b

A real estate company, engages in investment, development, and operation of commercial real estate properties in the Kingdom of Saudi Arabia.

SEDCO Capital REIT Fund

Market Cap: ر.س1.3b

SEDCO Capital REIT is a Shariah-compliant real estate investment traded fund externally managed by SEDCO Capital.

Batic Investments and Logistics

Market Cap: ر.س1.3b

Engages in the real estate, transportation, and security business in the Kingdom of Saudi Arabia.

Tamkeen Human Resources

Market Cap: ر.س1.2b

Provides labor recruitment and manpower services in the Kingdom of Saudi Arabia.

Tanmiah Food

Market Cap: ر.س1.2b

Engages in food and agriculture business in the Kingdom of Saudi Arabia, the Kingdom of Bahrain, and Other GCC countries.

INMAR

Market Cap: ر.س800.0m

Engages in establishing and owning real estate properties in the Kingdom of Saudi Arabia.

Alkhabeer REIT Fund

Market Cap: ر.س796.7m

A real estate investment fund.

Umm Al-Qura Cement

Market Cap: ر.س655.1m

Manufactures and sells clinker and cement products in the Kingdom of Saudi Arabia.

Axelerated Solutions for Information and Communication Technology

Market Cap: ر.س630.0m

Provides IT solutions in the Kingdom of Saudi Arabia.

Arabian United Float Glass

Market Cap: ر.س576.4m

Manufactures and sells glass products in the Kingdom of Saudi Arabia.

Derayah Financial - Derayah Reit Fund

Market Cap: ر.س558.0m

A real estate investment fund.

Jazan Development and Investment

Market Cap: ر.س444.0m

Engages in the aquaculture, agricultural, manufacturing, and real estate businesses in Saudi Arabia and Egypt.

Al Rashid Industrial

Market Cap: ر.س441.2m

Manufactures and sells plastic packaging products to the government and private sectors in Saudi Arabia.

Shatirah House Restaurant

Market Cap: ر.س417.8m

Operates a chain of fast-food restaurants under the Burgerizzr brand in Saudi Arabia.