Under The Bonnet, Elm's (TADAWUL:7203) Returns Look Impressive
Nov 26
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Saudi Arabian (Tadawul) Tech Sector Analysis
UpdatedDec 06, 2025
DataAggregated Company Financials
Companies18
- 7D1.3%
- 3M-6.7%
- 1Y-27.3%
- YTD-25.8%
In the last week, the Tech industry is up 1.3%, with Elm up 2.0%. In the past year, the industry is down 27%. Looking forward, earnings are forecast to grow by 14% annually.
Sector Valuation and Performance
Has the Saudi Arabian Tech Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 06 Dec 2025 | ر.س101.6b | ر.س26.2b | ر.س4.1b | 25x | 24.8x | 3.9x |
| Mon, 03 Nov 2025 | ر.س115.8b | ر.س25.2b | ر.س4.1b | 24.7x | 28.4x | 4.6x |
| Wed, 01 Oct 2025 | ر.س114.2b | ر.س25.2b | ر.س4.1b | 28.4x | 28x | 4.5x |
| Fri, 29 Aug 2025 | ر.س109.6b | ر.س25.1b | ر.س4.1b | 27.8x | 26.9x | 4.4x |
| Sun, 27 Jul 2025 | ر.س115.5b | ر.س24.5b | ر.س4.0b | 30.5x | 29x | 4.7x |
| Tue, 24 Jun 2025 | ر.س115.7b | ر.س24.4b | ر.س4.0b | 22x | 28.6x | 4.7x |
| Thu, 22 May 2025 | ر.س130.1b | ر.س23.7b | ر.س4.0b | 29.5x | 32.4x | 5.5x |
| Sat, 19 Apr 2025 | ر.س125.9b | ر.س23.4b | ر.س3.9b | 29.7x | 32.7x | 5.4x |
| Mon, 17 Mar 2025 | ر.س125.6b | ر.س23.5b | ر.س3.8b | 34.2x | 32.7x | 5.4x |
| Wed, 12 Feb 2025 | ر.س139.6b | ر.س22.1b | ر.س3.5b | 37x | 39.9x | 6.3x |
| Fri, 10 Jan 2025 | ر.س140.4b | ر.س22.1b | ر.س3.5b | 38.2x | 40.1x | 6.3x |
| Sun, 08 Dec 2024 | ر.س137.6b | ر.س22.1b | ر.س3.5b | 39.5x | 39.3x | 6.2x |
| Tue, 05 Nov 2024 | ر.س134.0b | ر.س21.8b | ر.س3.3b | 33x | 41.2x | 6.1x |
| Thu, 03 Oct 2024 | ر.س140.6b | ر.س21.8b | ر.س3.2b | 29x | 44.3x | 6.4x |
| Sat, 31 Aug 2024 | ر.س127.8b | ر.س21.8b | ر.س3.2b | 29.7x | 40.4x | 5.9x |
| Mon, 29 Jul 2024 | ر.س120.0b | ر.س21.3b | ر.س2.9b | 36.8x | 41.1x | 5.6x |
| Wed, 26 Jun 2024 | ر.س112.8b | ر.س21.3b | ر.س2.9b | 27.3x | 38.6x | 5.3x |
| Fri, 24 May 2024 | ر.س112.3b | ر.س21.0b | ر.س2.9b | 34.5x | 38.9x | 5.3x |
| Sun, 21 Apr 2024 | ر.س126.9b | ر.س20.7b | ر.س2.8b | 38x | 45.5x | 6.1x |
| Tue, 19 Mar 2024 | ر.س137.3b | ر.س20.6b | ر.س2.9b | 38x | 48.2x | 6.7x |
| Thu, 15 Feb 2024 | ر.س138.6b | ر.س19.8b | ر.س2.8b | 36.2x | 50.1x | 7x |
| Sat, 13 Jan 2024 | ر.س125.6b | ر.س19.8b | ر.س2.8b | 31.9x | 45.4x | 6.4x |
| Mon, 11 Dec 2023 | ر.س110.0b | ر.س19.8b | ر.س2.8b | 28.2x | 39.8x | 5.6x |
| Wed, 08 Nov 2023 | ر.س103.2b | ر.س19.5b | ر.س2.9b | 27.4x | 36.1x | 5.3x |
| Fri, 06 Oct 2023 | ر.س107.7b | ر.س18.4b | ر.س2.7b | 27.8x | 39.7x | 5.9x |
| Sun, 03 Sep 2023 | ر.س120.2b | ر.س18.4b | ر.س2.7b | 28.9x | 44.2x | 6.5x |
| Tue, 01 Aug 2023 | ر.س108.2b | ر.س17.2b | ر.س2.4b | 30.7x | 44.2x | 6.3x |
| Thu, 29 Jun 2023 | ر.س95.3b | ر.س17.2b | ر.س2.4b | 32.5x | 38.9x | 5.5x |
| Sat, 27 May 2023 | ر.س81.3b | ر.س16.8b | ر.س2.4b | 30x | 33.8x | 4.8x |
| Mon, 24 Apr 2023 | ر.س77.0b | ر.س16.2b | ر.س2.3b | 28.7x | 33.3x | 4.8x |
| Wed, 22 Mar 2023 | ر.س71.3b | ر.س16.1b | ر.س2.2b | 24.5x | 32.3x | 4.4x |
| Fri, 17 Feb 2023 | ر.س67.4b | ر.س15.8b | ر.س2.1b | 27x | 32x | 4.3x |
| Sun, 15 Jan 2023 | ر.س63.2b | ر.س15.8b | ر.س2.1b | 27.6x | 30.5x | 4x |
| Tue, 13 Dec 2022 | ر.س58.4b | ر.س15.8b | ر.س2.1b | 26.7x | 28.1x | 3.7x |
Price to Earnings Ratio
28.1x
Current Industry PE
- Investors are pessimistic on the Saudi Information Technology industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 24.8x which is lower than its 3-year average PE of 36.8x.
- The 3-year average PS ratio of 5.4x is higher than the industry's current PS ratio of 3.9x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have grown 25% per year over the last three years.
- Revenues for these companies have grown 19% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Saudi Arabian Tech sector?
| SA Market | -0.35% | |
| Tech | 1.35% | |
| IT | 1.36% | |
| Electronic Equipment and Components | 0% | 0 |
| Software | -0.84% | |
Industry PE
- Investors are most optimistic about the IT industry even though it's trading below its 3-year average PE ratio of 36.3x.
- Analysts are expecting annual earnings growth of 13.5%, which is higher than its past year's earnings decline of 8.3% per year.
Forecasted Growth
- Analysts are most optimistic on the IT industry, expecting annual earnings growth of 14% over the next 5 years.
- This is better than its past earnings decline of 8.3% per year.
- In contrast, the IT industry is expected to see its earnings grow by 14% per year 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 | |
|---|---|---|---|---|---|
| 7203 Elm | ر.س781.50 | 2.0% +ر.س1.2b | -30.5% | PE28.4x | |
| 7202 Arabian Internet and Communication Services | ر.س227.20 | 1.1% +ر.س285.7m | -21.1% | PE17.4x | |
| 7211 Saudi Azm for Communication and Information Technology | ر.س24.22 | 4.4% +ر.س59.5m | -22.4% | PE34.5x | |
| 9637 Axelerated Solutions for Information and Communication Technology | ر.س26.80 | 1.0% +ر.س7.3m | n/a | PE22.1x | |
| 9538 Naseej for Technology | ر.س50.00 | 2.0% +ر.س5.0m | -20.9% | PE51.2x |
