Analysis Article • Aug 13
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Saudi Arabian (Tadawul) Market Analysis & Valuation
UpdatedAug 27, 2026
DataAggregated Company Financials
Companies390
- 7D-0.1%
- 3M-3.4%
- 1Y7.6%
- YTD8.4%
The Information Technology sector gained 6.4% while the market remained flat over the last week. Meanwhile, the market is actually up 7.6% over the past year. As for the next few years, earnings are expected to grow by 4.6% per annum.
Market Valuation and Performance
Has the Saudi Arabian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 27 Aug 2026 | ر.س9.6t | ر.س3.0t | ر.س581.8b | 16.6x | 16.5x | 3.2x |
| Sat, 25 Jul 2026 | ر.س9.6t | ر.س2.9t | ر.س542.2b | 16.4x | 17.7x | 3.4x |
| Mon, 22 Jun 2026 | ر.س9.7t | ر.س2.9t | ر.س540.1b | 17.3x | 17.9x | 3.4x |
| Wed, 20 May 2026 | ر.س9.9t | ر.س2.9t | ر.س539.9b | 17.4x | 18.4x | 3.5x |
| Fri, 17 Apr 2026 | ر.س9.9t | ر.س2.8t | ر.س511.6b | 18.1x | 19.4x | 3.5x |
| Sun, 15 Mar 2026 | ر.س9.6t | ر.س2.8t | ر.س514.5b | 16.7x | 18.7x | 3.4x |
| Tue, 10 Feb 2026 | ر.س9.5t | ر.س2.8t | ر.س523.8b | 17.6x | 18.1x | 3.3x |
| Thu, 08 Jan 2026 | ر.س8.8t | ر.س2.8t | ر.س521.5b | 17.5x | 16.8x | 3.1x |
| Sat, 06 Dec 2025 | ر.س9.0t | ر.س2.8t | ر.س484.1b | 18.1x | 18.6x | 3.2x |
| Mon, 03 Nov 2025 | ر.س9.6t | ر.س2.9t | ر.س522.3b | 20x | 18.3x | 3.3x |
| Wed, 01 Oct 2025 | ر.س9.4t | ر.س2.9t | ر.س519.2b | 21.5x | 18x | 3.3x |
| Fri, 29 Aug 2025 | ر.س8.9t | ر.س2.8t | ر.س518.7b | 20.7x | 17.2x | 3.1x |
| Sun, 27 Jul 2025 | ر.س9.0t | ر.س2.9t | ر.س545.5b | 20.6x | 16.5x | 3.1x |
| Tue, 24 Jun 2025 | ر.س9.1t | ر.س2.9t | ر.س542.7b | 20.4x | 16.7x | 3.1x |
| Thu, 22 May 2025 | ر.س9.6t | ر.س2.9t | ر.س541.9b | 21.8x | 17.7x | 3.3x |
| Sat, 19 Apr 2025 | ر.س9.5t | ر.س2.9t | ر.س543.5b | 22.1x | 17.5x | 3.3x |
| Mon, 17 Mar 2025 | ر.س9.6t | ر.س2.9t | ر.س540.5b | 22.5x | 17.8x | 3.4x |
| Wed, 12 Feb 2025 | ر.س10.3t | ر.س2.9t | ر.س555.7b | 24x | 18.5x | 3.6x |
| Fri, 10 Jan 2025 | ر.س10.2t | ر.س2.9t | ر.س552.2b | 23.6x | 18.5x | 3.6x |
| Sun, 08 Dec 2024 | ر.س10.2t | ر.س2.9t | ر.س552.1b | 23.6x | 18.5x | 3.6x |
| Tue, 05 Nov 2024 | ر.س10.2t | ر.س2.9t | ر.س574.9b | 24.6x | 17.7x | 3.5x |
| Thu, 03 Oct 2024 | ر.س10.2t | ر.س2.9t | ر.س571.2b | 25.4x | 17.8x | 3.6x |
| Sat, 31 Aug 2024 | ر.س10.3t | ر.س2.9t | ر.س571.1b | 25.5x | 18x | 3.6x |
| Mon, 29 Jul 2024 | ر.س10.2t | ر.س2.8t | ر.س567.7b | 26.4x | 18x | 3.6x |
| Wed, 26 Jun 2024 | ر.س10.0t | ر.س2.8t | ر.س567.4b | 24.8x | 17.7x | 3.6x |
| Fri, 24 May 2024 | ر.س10.7t | ر.س2.8t | ر.س566.2b | 26.4x | 18.8x | 3.8x |
| Sun, 21 Apr 2024 | ر.س10.8t | ر.س2.8t | ر.س578.0b | 28.1x | 18.7x | 3.8x |
| Tue, 19 Mar 2024 | ر.س11.1t | ر.س2.8t | ر.س576.9b | 28.4x | 19.3x | 3.9x |
| Thu, 15 Feb 2024 | ر.س11.2t | ر.س2.9t | ر.س606.2b | 26.3x | 18.4x | 3.9x |
| Sat, 13 Jan 2024 | ر.س11.3t | ر.س2.9t | ر.س604.6b | 25.1x | 18.6x | 4x |
| Mon, 11 Dec 2023 | ر.س11.0t | ر.س2.8t | ر.س604.4b | 23.8x | 18.3x | 3.9x |
| Wed, 08 Nov 2023 | ر.س11.0t | ر.س3.0t | ر.س636.7b | 23.4x | 17.3x | 3.7x |
| Fri, 06 Oct 2023 | ر.س11.1t | ر.س3.0t | ر.س636.4b | 24.4x | 17.4x | 3.7x |
| Sun, 03 Sep 2023 | ر.س11.5t | ر.س3.0t | ر.س636.3b | 25.8x | 18.1x | 3.9x |
Price to Earnings Ratio
18.1x
Current Market PE
- Investors are relatively neutral on the Saudi market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 18.0x.
Past Earnings Growth
- The earnings for Saudi listed companies have declined 2.9% per year over the last three years.
- Meanwhile revenues have been flat.
- This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.
Sector Trends
Which sectors have driven the changes within the Saudi Arabian Market?
| SA Market | -0.12% | |
| Tech | 6.36% | |
| Utilities | 4.60% | |
| Materials | 4.54% | |
| Financials | 4.48% | |
| Telecom | 3.06% | |
| Real Estate | 2.59% | |
| Consumer Discretionary | 1.80% | |
| Industrials | 1.64% | |
| Consumer Staples | 1.56% | |
| Healthcare | 1.09% | |
| Energy | -1.96% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 64.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 23.1%, which is higher than its past year's earnings growth of 13.3% per year.
- The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.8x.
Forecasted Growth
- Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 29% over the next 5 years.
- This is better than its past earnings growth rate of 15% per year.
- In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| 1120 Al Rajhi Banking and Investment | ر.س69.00 | 7.0% +ر.س27.0b | 8.7% | PB2.7x | Financials | |
| 1211 Saudi Arabian Mining Company (Maaden) | ر.س70.40 | 7.5% +ر.س19.0b | 33.5% | PE35.6x | Materials | |
| 1180 Saudi National Bank | ر.س43.40 | 4.1% +ر.س10.2b | 23.9% | PB1.2x | Financials | |
| 2082 ACWA Power | ر.س196.80 | 6.7% +ر.س9.4b | -9.4% | PE94.5x | Utilities | |
| 7010 Saudi Telecom | ر.س44.60 | 2.3% +ر.س5.0b | 5.9% | PE15.1x | Telecom |
