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Saudi Arabian (Tadawul) Market Analysis & Valuation

UpdatedMay 15, 2026
DataAggregated Company Financials
Companies389
  • 7D1.0%
  • 3M3.3%
  • 1Y2.0%
  • YTD11.6%

The market has climbed 1.0% in the last 7 days, lead by the Energy sector with a gain of 1.9%. The market has been flat overall in the last year. Earnings are forecast to grow by 6.3% annually.

Market Valuation and Performance

Has the Saudi Arabian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 16 May 2026ر.س9.9tر.س2.9tر.س541.0b18x18.3x3.5x
Mon, 13 Apr 2026ر.س9.9tر.س2.8tر.س511.6b17.4x19.3x3.5x
Wed, 11 Mar 2026ر.س9.6tر.س2.8tر.س532.6b16.9x18.1x3.4x
Fri, 06 Feb 2026ر.س9.5tر.س2.8tر.س526.2b17.6x18x3.3x
Sun, 04 Jan 2026ر.س8.9tر.س2.8tر.س484.5b17.7x18.3x3.1x
Tue, 02 Dec 2025ر.س8.9tر.س2.8tر.س484.0b18x18.5x3.2x
Thu, 30 Oct 2025ر.س9.7tر.س2.9tر.س523.2b20.6x18.5x3.4x
Sat, 27 Sep 2025ر.س9.2tر.س2.9tر.س519.2b21.2x17.7x3.2x
Mon, 25 Aug 2025ر.س9.0tر.س2.8tر.س518.7b20.8x17.3x3.1x
Wed, 23 Jul 2025ر.س9.0tر.س2.9tر.س545.2b20.2x16.4x3.1x
Fri, 20 Jun 2025ر.س9.0tر.س2.9tر.س542.6b20.1x16.6x3.1x
Sun, 18 May 2025ر.س9.6tر.س2.9tر.س541.2b21.8x17.8x3.3x
Tue, 15 Apr 2025ر.س9.6tر.س2.9tر.س543.5b22.3x17.7x3.4x
Thu, 13 Mar 2025ر.س9.7tر.س2.8tر.س541.0b22x17.9x3.4x
Sat, 08 Feb 2025ر.س10.3tر.س2.9tر.س557.0b24.1x18.4x3.6x
Mon, 06 Jan 2025ر.س10.2tر.س2.9tر.س552.1b23.2x18.5x3.6x
Wed, 04 Dec 2024ر.س10.1tر.س2.9tر.س551.8b23.8x18.3x3.5x
Fri, 01 Nov 2024ر.س10.1tر.س2.9tر.س574.4b24.9x17.5x3.5x
Sun, 29 Sep 2024ر.س10.3tر.س2.9tر.س571.2b25.9x18x3.6x
Tue, 27 Aug 2024ر.س10.3tر.س2.9tر.س571.1b25.8x18x3.6x
Thu, 25 Jul 2024ر.س10.2tر.س2.8tر.س567.6b25.9x18x3.6x
Sat, 22 Jun 2024ر.س10.0tر.س2.8tر.س567.4b25.1x17.6x3.5x
Mon, 20 May 2024ر.س10.7tر.س2.8tر.س566.3b27.1x18.8x3.8x
Wed, 17 Apr 2024ر.س10.9tر.س2.8tر.س578.0b27.6x18.9x3.9x
Fri, 15 Mar 2024ر.س11.1tر.س2.8tر.س584.8b28.3x19x4x
Sun, 11 Feb 2024ر.س10.8tر.س2.9tر.س605.6b26x17.9x3.8x
Tue, 09 Jan 2024ر.س11.4tر.س2.9tر.س604.6b25.2x18.9x4x
Thu, 07 Dec 2023ر.س11.0tر.س2.8tر.س604.3b23.6x18.2x3.9x
Sat, 04 Nov 2023ر.س10.9tر.س3.0tر.س638.1b23.3x17.2x3.7x
Mon, 02 Oct 2023ر.س11.4tر.س3.0tر.س636.5b24.6x17.9x3.8x
Wed, 30 Aug 2023ر.س11.4tر.س3.0tر.س636.3b25.3x17.8x3.8x
Fri, 28 Jul 2023ر.س11.1tر.س3.2tر.س715.7b25.7x15.4x3.5x
Sun, 25 Jun 2023ر.س10.9tر.س3.2tر.س714.9b26.5x15.3x3.4x
Tue, 23 May 2023ر.س10.9tر.س3.2tر.س726.5b25.1x15x3.4x
Price to Earnings Ratio

15x


Total Market Cap: ر.س10.9tTotal Earnings: ر.س726.5bTotal Revenue: ر.س3.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Saudi Arabian Market Price to Earnings3Y Average 17.8x202420252026
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 17.8x.
Past Earnings Growth
  • The earnings for companies in the Saudi industry have declined 9.4% per year over the last three years.
  • Revenues have also declined 3.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Saudi Arabian Market?

SA Market1.03%
Energy1.88%
Tech1.83%
Consumer Staples1.67%
Telecom-0.28%
Materials-0.44%
Financials-1.04%
Utilities-1.23%
Consumer Discretionary-1.25%
Real Estate-1.46%
Industrials-2.09%
Healthcare-2.17%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 59.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 30.8%, which is higher than its past year's earnings growth of 5.7% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 14.1x.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings growth rate of 5.7% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 2.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
2222 Saudi Arabian Oilر.س27.701.8%
+ر.س121.0b		5.9%PE18xEnergy
2380 Rabigh Refining and Petrochemicalر.س15.9914.2%
+ر.س4.4b		128.8%PS0.9xEnergy
2010 Saudi Basic Industriesر.س60.902.2%
+ر.س3.9b		1.0%PS1.6xMaterials
2280 Almaraiر.س43.325.4%
+ر.س2.2b		-17.6%PE17.6xConsumer Staples
7203 Elmر.س686.004.3%
+ر.س2.2b		-35.1%PE23.7xTech
See more

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Latest News

2223
ر.س127.50
Saudi Aramco Base Oil Company - Luberef
7D
7.5%
1Y
26.2%
Analysis Article • 23h

Saudi Aramco Base Oil Company - Luberef Just Missed Revenue By 7.4%: Here's What Analysts Think Will Happen Next

Investors in Saudi Aramco Base Oil Company - Luberef ( TADAWUL:2223 ) had a good week, as its shares rose 7.5% to close...
5110
ر.س17.10
Saudi Energy
7D
1.5%
1Y
19.1%
7203
ر.س686.00
Elm
7D
4.3%
1Y
-35.1%
4280
ر.س10.35
Kingdom Holding
7D
-4.1%
1Y
17.1%
2222
ر.س27.70
Saudi Arabian Oil
7D
1.8%
1Y
5.9%
Analysis Article • May 14

Saudi Arabian Oil Company Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

A week ago, Saudi Arabian Oil Company ( TADAWUL:2222 ) came out with a strong set of quarterly numbers that could...
2082
ر.س177.20
ACWA Power
7D
-2.7%
1Y
-39.5%
1211
ر.س64.15
Saudi Arabian Mining Company (Maaden)
7D
-2.8%
1Y
25.0%
Narrative Update • May 12

1211: New CFO Appointment And Refined Assumptions Will Shape Balanced Outlook

Analysts have nudged their price target for Saudi Arabian Mining Company (Maaden) to SAR66.67 from SAR66.29, citing updated assumptions for revenue growth, profit margins and future P/E that modestly adjust their valuation outlook. What's in the News Maaden’s Nomination and Remuneration Committee approved the appointment of Gilberto Antoniazzi as Chief Financial Officer, effective March 1, 2026 (company announcement).
2380
ر.س15.99
Rabigh Refining and Petrochemical
7D
14.2%
1Y
128.8%
4325
ر.س15.02
Umm Al Qura for Development and Construction
7D
-5.7%
1Y
-40.0%
2010
ر.س60.90
Saudi Basic Industries
7D
2.2%
1Y
1.0%
1303
ر.س15.88
Electrical Industries
7D
-6.9%
1Y
116.9%
Analysis Article • May 06

Investors Shouldn't Be Too Comfortable With Electrical Industries' (TADAWUL:1303) Earnings

Electrical Industries Company's ( TADAWUL:1303 ) robust earnings report didn't manage to move the market for its stock...
1010
ر.س20.42
Riyad Bank
7D
-2.0%
1Y
-5.8%
1180
ر.س38.60
Saudi National Bank
7D
-1.8%
1Y
8.7%
Narrative Update • May 03

1180: Higher Assumed Profitability And P E Support Strong Future Upside Potential

Analysts have nudged their fair value estimate for Saudi National Bank slightly higher to around SAR50.41 from SAR50.38, reflecting updated assumptions for revenue growth, profit margin and future P/E. Valuation Changes Fair Value: Raised slightly from SAR50.38 to around SAR50.41, a change of roughly SAR0.03 per share.
4020
ر.س16.30
Saudi Real Estate
7D
11.4%
1Y
-30.8%
1120
ر.س66.30
Al Rajhi Banking and Investment
7D
-0.5%
1Y
1.7%
2280
ر.س43.32
Almarai
7D
5.4%
1Y
-17.6%
Narrative Update • Apr 22

2280: Dividend Proposal And Bylaw Changes Will Support Future Share Confidence

Analysts have slightly reduced their price target for Almarai to SAR56.81 from SAR57.60, reflecting updated assumptions that combine a modestly lower revenue growth outlook with a small uplift in expected profit margins and a marginally lower future P/E multiple. What's in the News Board recommendation for a cash dividend of SAR 1.15 per share, totaling SAR 1,150m for the fiscal year ending 31 December 2025, subject to approval at an Extraordinary General Assembly, with distribution expected to commence on or before 3 May 2026 after shareholder approval (Key Developments).