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Saudi Arabian (Tadawul) Market Analysis & Valuation

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies390
  • 7D6.2%
  • 3M-2.9%
  • 1Y-11.3%
  • YTD4.0%

Over the last 7 days, the market has risen 6.2%, driven by gains in every sector, especially the Energy sector. In contrast, the market has seen a decline of 11% over the last 12 months. Earnings are forecast to grow by 7.7% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 14 Jan 2026ر.س9.2tر.س2.8tر.س521.5b17.8x17.7x3.3x
Fri, 12 Dec 2025ر.س8.9tر.س2.8tر.س484.2b18.1x18.4x3.2x
Sun, 09 Nov 2025ر.س9.5tر.س2.8tر.س521.9b19.5x18.3x3.4x
Tue, 07 Oct 2025ر.س9.4tر.س2.9tر.س519.2b21.5x18.1x3.3x
Thu, 04 Sep 2025ر.س8.8tر.س2.8tر.س518.7b20.3x17x3.1x
Sat, 02 Aug 2025ر.س9.1tر.س2.9tر.س546.4b20.3x16.6x3.1x
Mon, 30 Jun 2025ر.س9.1tر.س2.9tر.س542.8b21.2x16.8x3.1x
Wed, 28 May 2025ر.س9.2tر.س2.9tر.س541.9b20.9x17x3.2x
Fri, 25 Apr 2025ر.س9.6tر.س2.9tر.س544.8b22.4x17.7x3.4x
Sun, 23 Mar 2025ر.س9.6tر.س2.9tر.س543.4b22.5x17.7x3.4x
Tue, 18 Feb 2025ر.س10.2tر.س2.9tر.س555.7b24.3x18.4x3.6x
Thu, 16 Jan 2025ر.س10.3tر.س2.9tر.س552.2b23.8x18.7x3.6x
Sat, 14 Dec 2024ر.س10.4tر.س2.9tر.س552.1b23.7x18.8x3.6x
Mon, 11 Nov 2024ر.س10.3tر.س2.9tر.س550.6b24.5x18.7x3.6x
Wed, 09 Oct 2024ر.س10.0tر.س2.9tر.س571.6b24.7x17.6x3.5x
Fri, 06 Sep 2024ر.س10.2tر.س2.9tر.س571.2b25.4x17.8x3.6x
Sun, 04 Aug 2024ر.س10.1tر.س2.8tر.س568.5b25.7x17.8x3.6x
Tue, 02 Jul 2024ر.س10.1tر.س2.8tر.س567.3b25.7x17.8x3.6x
Thu, 30 May 2024ر.س10.4tر.س2.8tر.س566.5b25.6x18.3x3.7x
Sat, 27 Apr 2024ر.س10.8tر.س2.8tر.س578.0b27.4x18.6x3.8x
Mon, 25 Mar 2024ر.س11.1tر.س2.8tر.س577.3b28.4x19.3x4x
Wed, 21 Feb 2024ر.س11.2tر.س2.9tر.س605.7b26.4x18.4x3.9x
Fri, 19 Jan 2024ر.س11.0tر.س2.9tر.س604.6b25.1x18.2x3.9x
Sun, 17 Dec 2023ر.س11.1tر.س2.8tر.س604.4b23.8x18.3x3.9x
Tue, 14 Nov 2023ر.س11.1tر.س2.9tر.س604.9b23x18.3x3.9x
Thu, 12 Oct 2023ر.س10.9tر.س3.0tر.س636.9b23.2x17.2x3.7x
Sat, 09 Sep 2023ر.س11.3tر.س3.0tر.س636.5b25.2x17.7x3.8x
Mon, 07 Aug 2023ر.س10.9tر.س3.2tر.س715.9b25.5x15.2x3.4x
Wed, 05 Jul 2023ر.س11.0tر.س3.2tر.س714.9b26.2x15.4x3.4x
Fri, 02 Jun 2023ر.س10.6tر.س3.2tر.س713.3b25.5x14.9x3.4x
Sun, 30 Apr 2023ر.س11.0tر.س3.3tر.س754.1b25x14.5x3.4x
Tue, 28 Mar 2023ر.س9.9tر.س3.2tر.س758.0b23.8x13.1x3.1x
Thu, 23 Feb 2023ر.س9.9tر.س3.2tر.س753.0b23.9x13.1x3.1x
Sat, 21 Jan 2023ر.س10.0tر.س3.2tر.س750.2b24x13.3x3.1x
Price to Earnings Ratio

13.3x


Total Market Cap: ر.س10.0tTotal Earnings: ر.س750.2bTotal Revenue: ر.س3.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Saudi Arabian Market Price to Earnings3Y Average 17.3x202420252026
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 17.3x.
Past Earnings Growth
  • The earnings for companies in the Saudi industry have declined 11% per year over the last three years.
  • Revenues have also declined 4.1% 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 Market6.15%
Materials7.95%
Financials7.01%
Energy6.31%
Telecom5.15%
Healthcare4.75%
Real Estate4.50%
Consumer Staples4.30%
Tech3.75%
Consumer Discretionary3.21%
Industrials2.30%
Utilities1.84%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 49.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 33.3% which is higher than its past year's earnings decline of 6.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings growth rate of 15% per year.
  • In contrast, the Consumer Staples 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?

CompanyLast Price7D1YValuationSector
2222 Saudi Arabian Oilر.س24.926.3%
+ر.س357.9b		-11.3%PE16.5xEnergy
1120 Al Rajhi Banking and Investmentر.س102.506.8%
+ر.س26.2b		6.8%PB3xFinancials
1180 Saudi National Bankر.س42.0011.1%
+ر.س24.8b		25.4%PB1.3xFinancials
1211 Saudi Arabian Mining Company (Ma'aden)ر.س70.809.8%
+ر.س24.4b		51.4%PE49.3xMaterials
2010 Saudi Basic Industriesر.س55.0010.6%
+ر.س15.8b		-17.7%PS1.2xMaterials
See more

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Latest News

2010
ر.س55.00
Saudi Basic Industries
7D
10.6%
1Y
-17.7%
4292
ر.س53.55
Ataa Educational
7D
-4.5%
1Y
-28.1%

Getting In Cheap On Ataa Educational Company (TADAWUL:4292) Might Be Difficult

Jan 09
Getting In Cheap On Ataa Educational Company (TADAWUL:4292) Might Be Difficult
4230
ر.س29.92
Red Sea International
7D
-7.5%
1Y
-50.9%

Investors Continue Waiting On Sidelines For Red Sea International Company (TADAWUL:4230)

Jan 09
Investors Continue Waiting On Sidelines For Red Sea International Company (TADAWUL:4230)
1150
ر.س26.00
Alinma Bank
7D
7.8%
1Y
-13.0%

1150: Higher Future P/E Assumptions Will Support Potential Upside

Analysts have trimmed their price target for Alinma Bank to around SAR 38.53 from about SAR 38.72. This reflects updated assumptions for slightly lower revenue growth and profit margins, along with a higher expected future P/E multiple.
7010
ر.س44.54
Saudi Telecom
7D
5.4%
1Y
7.1%
1180
ر.س42.00
Saudi National Bank
7D
11.1%
1Y
25.4%

1180: Completed Buyback And Stable Margins Will Support Future Returns

Analysts have kept their fair value estimate for Saudi National Bank broadly unchanged at SAR 48.11, with only marginal tweaks to inputs such as the discount rate, revenue growth, profit margin, and future P/E, supporting a steady Analyst Price Target. What's in the News Saudi National Bank completed a share repurchase program involving 16,000,000 shares, equal to 0.27% of its shares, under the buyback announced on April 16, 2025 (Key Developments).
2222
ر.س24.92
Saudi Arabian Oil
7D
6.3%
1Y
-11.3%

Under The Bonnet, Saudi Arabian Oil's (TADAWUL:2222) Returns Look Impressive

Jan 05
Under The Bonnet, Saudi Arabian Oil's (TADAWUL:2222) Returns Look Impressive
1211
ر.س70.80
Saudi Arabian Mining Company (Ma'aden)
7D
9.8%
1Y
51.4%

1211: Rare Earth JV And Phosphate Expansion Will Shape Balanced Future Outlook

Analysts have raised their price target for Saudi Arabian Mining Company (Ma'aden) slightly, from SAR 56.82 to around SAR 57.07, citing marginally stronger expectations for revenue growth, profit margins, and future earnings multiples. What's in the News Received Ministry of Energy approval for feedstock allocation to develop the Fourth Phosphate Project, targeting 1.1 million tons of ammonia and an additional 2.5 million tons of phosphate and specialty fertilizers annually, lifting total fertilizer capacity to about 12 million tons per year and reinforcing Maaden as a leading global phosphate producer (regulatory filing).
4264
ر.س62.45
Flynas
7D
-0.8%
1Y
n/a
2081
ر.س120.70
Alkhorayef Water and Power Technologies
7D
-5.1%
1Y
-24.7%
6019
ر.س23.89
Almasar Alshamil Education Company JSC
7D
-6.3%
1Y
n/a
1120
ر.س102.50
Al Rajhi Banking and Investment
7D
6.8%
1Y
6.8%

Should You Be Adding Al Rajhi Banking and Investment (TADAWUL:1120) To Your Watchlist Today?

Nov 13
Should You Be Adding Al Rajhi Banking and Investment (TADAWUL:1120) To Your Watchlist Today?
1302
ر.س48.20
Bawan
7D
-2.0%
1Y
-19.0%
4083
ر.س153.40
United International Holding
7D
-2.1%
1Y
-17.8%

United International Holding Company (TADAWUL:4083) Could Be Riskier Than It Looks

Nov 11
United International Holding Company (TADAWUL:4083) Could Be Riskier Than It Looks
2190
ر.س29.34
Sustained Infrastructure Holding
7D
-2.5%
1Y
-11.1%
1060
ر.س33.60
Saudi Awwal Bank
7D
7.3%
1Y
-1.2%