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Saudi Arabian (Tadawul) Market Analysis & Valuation

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies391
  • 7D2.4%
  • 3M11.9%
  • 1Y-0.9%
  • YTD11.9%

The market is up 2.4% over the last week, with the Energy sector leading the way, up 2.8%. In the last 12 months, the market has been flat. Looking forward, earnings are forecast to grow by 7.3% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Apr 2026ر.س9.9tر.س2.8tر.س511.4b17.4x19.4x3.5x
Sat, 28 Feb 2026ر.س9.1tر.س2.8tر.س526.7b16.8x17.4x3.2x
Mon, 26 Jan 2026ر.س9.4tر.س2.8tر.س521.7b18.3x18.1x3.3x
Wed, 24 Dec 2025ر.س8.9tر.س2.8tر.س484.5b17.8x18.3x3.1x
Fri, 21 Nov 2025ر.س9.4tر.س2.8tر.س483.7b18.4x19.5x3.3x
Sun, 19 Oct 2025ر.س9.6tر.س2.9tر.س519.3b21.2x18.4x3.4x
Tue, 16 Sep 2025ر.س8.6tر.س2.8tر.س519.0b20.2x16.7x3x
Thu, 14 Aug 2025ر.س9.0tر.س2.8tر.س518.9b20.2x17.2x3.2x
Sat, 12 Jul 2025ر.س9.3tر.س2.9tر.س542.8b21.9x17.2x3.2x
Mon, 09 Jun 2025ر.س9.2tر.س2.9tر.س542.0b21.6x16.9x3.2x
Wed, 07 May 2025ر.س9.4tر.س2.9tر.س547.5b22x17.1x3.3x
Fri, 04 Apr 2025ر.س9.8tر.س2.9tر.س543.5b22.5x18x3.4x
Sun, 02 Mar 2025ر.س10.0tر.س2.9tر.س568.2b23.5x17.6x3.5x
Tue, 28 Jan 2025ر.س10.3tر.س2.9tر.س552.3b24.3x18.7x3.6x
Thu, 26 Dec 2024ر.س10.2tر.س2.9tر.س552.1b23.1x18.5x3.6x
Sat, 23 Nov 2024ر.س10.2tر.س2.9tر.س551.7b23.7x18.4x3.6x
Mon, 21 Oct 2024ر.س10.0tر.س2.9tر.س571.7b25.6x17.5x3.5x
Wed, 18 Sep 2024ر.س10.0tر.س2.9tر.س571.2b25.6x17.5x3.5x
Fri, 16 Aug 2024ر.س10.2tر.س2.9tر.س571.8b25.3x17.9x3.6x
Sun, 14 Jul 2024ر.س10.2tر.س2.8tر.س567.5b25.7x17.9x3.6x
Tue, 11 Jun 2024ر.س10.3tر.س2.8tر.س566.9b25.9x18.1x3.7x
Thu, 09 May 2024ر.س10.8tر.س2.8tر.س564.6b27.9x19.1x3.8x
Sat, 06 Apr 2024ر.س10.9tر.س2.8tر.س577.7b27x18.9x3.9x
Mon, 04 Mar 2024ر.س11.1tر.س2.9tر.س606.0b27.5x18.4x3.9x
Wed, 31 Jan 2024ر.س10.9tر.س2.9tر.س604.6b24.8x18x3.8x
Fri, 29 Dec 2023ر.س11.2tر.س2.8tر.س604.4b24.7x18.6x3.9x
Sun, 26 Nov 2023ر.س11.1tر.س2.8tر.س604.4b23.6x18.3x3.9x
Tue, 24 Oct 2023ر.س10.8tر.س3.0tر.س636.9b22.7x17x3.6x
Thu, 21 Sep 2023ر.س11.2tر.س3.0tر.س636.4b24.8x17.6x3.8x
Sat, 19 Aug 2023ر.س11.5tر.س3.0tر.س635.6b25.8x18.1x3.9x
Mon, 17 Jul 2023ر.س11.0tر.س3.2tر.س715.4b26.4x15.3x3.4x
Wed, 14 Jun 2023ر.س10.9tر.س3.2tر.س714.2b26.5x15.3x3.4x
Fri, 12 May 2023ر.س11.2tر.س3.2tر.س730.2b25x15.3x3.5x
Sun, 09 Apr 2023ر.س10.1tر.س3.2tر.س755.9b23.8x13.4x3.1x
Price to Earnings Ratio

13.4x


Total Market Cap: ر.س10.1tTotal Earnings: ر.س755.9bTotal Revenue: ر.س3.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Saudi Arabian Market Price to Earnings3Y Average 17.6x202420252026
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 17.6x.
Past Earnings Growth
  • The earnings for companies in the Saudi industry have declined 12% per year over the last three years.
  • Revenues have also declined 4.7% 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 Market2.37%
Utilities4.92%
Healthcare3.55%
Materials2.86%
Energy2.65%
Consumer Staples2.27%
Industrials1.81%
Consumer Discretionary1.64%
Real Estate0.97%
Financials0.93%
Telecom0.60%
Tech-0.50%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 57.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 25.3% which is higher than its past year's earnings decline of 0.6% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 14.2x.
Forecasted Growth
  • Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 28% over the next 5 years.
  • However this is lower than its past earnings growth rate of 57% per year.
  • In contrast, the Real Estate sector is expected to see its earnings grow by 4.3% 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.س27.562.6%
+ر.س169.3b		3.0%PE19.2xEnergy
5110 Saudi Energyر.س17.1010.3%
+ر.س6.7b		7.1%PE17.7xUtilities
1120 Al Rajhi Banking and Investmentر.س106.501.5%
+ر.س6.4b		4.4%PB3xFinancials
2020 SABIC Agri-Nutrientsر.س148.608.0%
+ر.س5.2b		40.2%PE16.4xMaterials
2010 Saudi Basic Industriesر.س59.552.7%
+ر.س4.7b		-6.5%PS1.5xMaterials
See more

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Latest News

7203
ر.س541.00
Elm
7D
-1.8%
1Y
-44.2%
1120
ر.س106.50
Al Rajhi Banking and Investment
7D
1.5%
1Y
4.4%
4280
ر.س9.93
Kingdom Holding
7D
7.4%
1Y
20.8%
2020
ر.س148.60
SABIC Agri-Nutrients
7D
8.0%
1Y
40.2%
1050
ر.س19.70
Banque Saudi Fransi
7D
-1.5%
1Y
5.9%

1050: Higher Dividend Payouts And Strong Margins Will Support Long-Term Profitability

Analysts have raised the Banque Saudi Fransi price target from SAR 22.62 to SAR 24.30, citing updated assumptions around revenue growth of 11.81%, a profit margin of 50.83%, and a forward P/E of 15.34x, along with a slightly lower discount rate of 20.29%. What's in the News The Board of Directors recommended a cash dividend of SAR 0.52 per share, after Zakat, for the second half of 2025, subject to shareholder approval and formal General Assembly scheduling (Key Developments).
2082
ر.س172.20
ACWA Power
7D
2.3%
1Y
-49.8%
2010
ر.س59.55
Saudi Basic Industries
7D
2.7%
1Y
-6.5%

2010: New CEO Appointment And 2025 Dividend Decision Will Drive Upside

Analysts now place their price target for Saudi Basic Industries at around SAR 85, trimmed from about SAR 87. This reflects updated assumptions for revenue growth, profit margins and future P/E multiples in their valuation work.
1180
ر.س42.34
Saudi National Bank
7D
-0.3%
1Y
18.1%

1180: Upcoming Cash Dividend And Fine Tuned Assumptions Will Support Future Returns

Analysts have made a small upward adjustment to their price target for Saudi National Bank to SAR51.31, reflecting fine tuning to inputs such as fair value estimates, discount rate, revenue growth, profit margin, and forward P/E assumptions. What's in the News The Saudi National Bank Board of Directors recommended cash dividends of SAR 1.15 per share after Zakat for the second half of 2025, giving you a clear reference point for the proposed payout level (Key Developments).
1111
ر.س138.70
Saudi Tadawul Group Holding
7D
-2.9%
1Y
-32.0%
2222
ر.س27.56
Saudi Arabian Oil
7D
2.6%
1Y
3.0%

2222: Dividend Reset And Capital Returns Will Frame Balanced Forward Outlook

Analysts now set their price target for Saudi Arabian Oil at SAR28.26, a slight uptick from SAR28.19. This reflects updated assumptions around modest revenue growth, a lower projected profit margin, and a slightly reduced future P/E multiple.
8010
ر.س127.00
Company for Cooperative Insurance
7D
-1.4%
1Y
-10.9%
5110
ر.س17.10
Saudi Energy
7D
10.3%
1Y
7.1%

Long-Term Grid Expansion And Energy Transition Will Support A Stable Outlook

Catalysts About Saudi Energy Saudi Energy operates an integrated electricity generation, transmission and distribution business across the Kingdom of Saudi Arabia. What are the underlying business or industry changes driving this perspective?
4013
ر.س256.80
Dr. Sulaiman Al Habib Medical Services Group
7D
3.1%
1Y
-7.8%
8210
ر.س172.50
Bupa Arabia for Cooperative Insurance
7D
-1.7%
1Y
-2.3%
1322
ر.س87.10
Al Masane Al Kobra Mining
7D
-3.8%
1Y
50.4%
4264
ر.س50.00
Flynas
7D
-3.1%
1Y
n/a