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Saudi Arabian (Tadawul) Market Analysis & Valuation

UpdatedOct 27, 2025
DataAggregated Company Financials
Companies384
  • 7D0.9%
  • 3M6.5%
  • 1Y-5.7%
  • YTD-7.0%

Over the last 7 days, the market has remained flat, although notably the Materials sector declined by 3.4%. The past year hasn't been profitable, with the market dropping 5.7%. Earnings are forecast to grow by 8.0% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Oct 2025ر.س9.6tر.س2.9tر.س522.9b20.4x18.4x3.4x
Wed, 24 Sep 2025ر.س9.2tر.س2.9tر.س519.2b20.7x17.8x3.2x
Fri, 22 Aug 2025ر.س8.9tر.س2.8tر.س518.7b20.8x17.2x3.1x
Sun, 20 Jul 2025ر.س9.0tر.س2.9tر.س542.8b20.8x16.7x3.1x
Tue, 17 Jun 2025ر.س9.3tر.س2.9tر.س542.1b20.8x17.1x3.2x
Thu, 15 May 2025ر.س9.7tر.س2.9tر.س539.9b22.2x17.9x3.4x
Sat, 12 Apr 2025ر.س9.6tر.س2.9tر.س544.8b22x17.6x3.4x
Mon, 10 Mar 2025ر.س9.7tر.س2.8tر.س537.4b22.3x18.1x3.4x
Wed, 05 Feb 2025ر.س10.3tر.س2.9tر.س556.6b24.2x18.5x3.6x
Fri, 03 Jan 2025ر.س10.2tر.س2.9tر.س552.1b23.1x18.6x3.6x
Sun, 01 Dec 2024ر.س10.0tر.س2.9tر.س551.8b23.3x18.1x3.5x
Tue, 29 Oct 2024ر.س10.1tر.س2.9tر.س573.2b25.3x17.6x3.5x
Thu, 26 Sep 2024ر.س10.2tر.س2.9tر.س571.1b25.6x17.9x3.6x
Sat, 24 Aug 2024ر.س10.2tر.س2.9tر.س571.1b25.8x17.8x3.6x
Mon, 22 Jul 2024ر.س10.4tر.س2.8tر.س567.5b25.7x18.3x3.7x
Wed, 19 Jun 2024ر.س10.0tر.س2.8tر.س567.4b25.1x17.6x3.5x
Fri, 17 May 2024ر.س10.6tر.س2.8tر.س565.3b27x18.8x3.8x
Sun, 14 Apr 2024ر.س10.9tر.س2.8tر.س577.8b27.5x18.9x3.9x
Tue, 12 Mar 2024ر.س11.2tر.س2.8tر.س607.2b27.3x18.5x4x
Thu, 08 Feb 2024ر.س10.9tر.س2.9tر.س604.8b26.2x18x3.8x
Sat, 06 Jan 2024ر.س11.3tر.س2.9tر.س604.6b25.2x18.7x4x
Mon, 04 Dec 2023ر.س11.1tر.س2.8tر.س604.4b23.7x18.4x3.9x
Wed, 01 Nov 2023ر.س10.9tر.س3.0tر.س638.3b23x17.1x3.7x
Fri, 29 Sep 2023ر.س11.4tر.س3.0tر.س636.5b24.6x17.9x3.8x
Sun, 27 Aug 2023ر.س11.4tر.س3.0tر.س636.3b25.5x18x3.9x
Tue, 25 Jul 2023ر.س11.0tر.س3.2tر.س715.5b25.7x15.4x3.5x
Thu, 22 Jun 2023ر.س10.9tر.س3.2tر.س714.5b26.1x15.2x3.4x
Sat, 20 May 2023ر.س10.9tر.س3.2tر.س728.3b25.3x15x3.4x
Mon, 17 Apr 2023ر.س10.2tر.س3.2tر.س753.9b24.9x13.5x3.1x
Wed, 15 Mar 2023ر.س9.9tر.س3.2tر.س756.6b23.3x13.1x3.1x
Fri, 10 Feb 2023ر.س9.9tر.س3.2tر.س752.0b24.4x13.2x3.1x
Sun, 08 Jan 2023ر.س9.8tر.س3.2tر.س750.1b24.2x13x3.1x
Tue, 06 Dec 2022ر.س9.9tر.س3.2tر.س748.3b24.1x13.2x3.1x
Thu, 03 Nov 2022ر.س10.6tر.س3.2tر.س751.3b26.5x14.1x3.4x
Price to Earnings Ratio

14.1x


Total Market Cap: ر.س10.6tTotal Earnings: ر.س751.3bTotal Revenue: ر.س3.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Saudi Arabian Market Price to Earnings3Y Average 16.9x202320242025
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 16.9x.
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 3.3% 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 Market0.95%
Energy2.28%
Telecom0.45%
Tech0.021%
Financials-0.89%
Consumer Discretionary-0.91%
Industrials-0.99%
Consumer Staples-1.42%
Healthcare-1.48%
Real Estate-1.70%
Utilities-2.90%
Materials-3.39%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 130x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 27.8%, which is higher than its past year's earnings growth of 8.2% per year.
  • The Consumer Staples sector is the least preferred by investors for future growth, which is trading below its 3-year average of 23.2x.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings growth rate of 6.9% 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.س25.823.0%
+ر.س183.8b		-4.4%PE17.1xEnergy
1120 Al Rajhi Banking and Investmentر.س108.600.9%
+ر.س4.0b		24.8%PB3.2xFinancials
7010 Saudi Telecomر.س44.861.7%
+ر.س3.7b		5.6%PE18.6xTelecom
7203 Elmر.س948.002.4%
+ر.س1.7b		-8.4%PE35.4xTech
5110 Saudi Electricityر.س15.891.5%
+ر.س1.0b		-2.2%PS0.7xUtilities
See more

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1050
ر.س17.51
Banque Saudi Fransi
7D
-5.9%
1Y
16.6%

Vision 2030 Will Accelerate Digital Banking and Expand Overseas Transfer Access

Analysts have raised their price target for Banque Saudi Fransi from SAR 19.82 to SAR 20.28, citing improved profit margin projections and a modest uptick in fair value estimates. What's in the News Banque Saudi Fransi has entered into a strategic alliance with Thunes, signing a Memorandum of Understanding at SIBOS 2025 to facilitate fast, secure, and affordable international money transfers for both consumers and businesses (Key Developments).
1080
ر.س24.20
Arab National Bank
7D
-5.0%
1Y
26.7%
1120
ر.س107.10
Al Rajhi Banking and Investment
7D
-0.5%
1Y
23.8%
1180
ر.س39.00
Saudi National Bank
7D
1.3%
1Y
11.9%
7203
ر.س943.50
Elm
7D
0.4%
1Y
-6.8%

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Oct 21
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2082
ر.س237.20
ACWA Power
7D
-4.6%
1Y
-47.5%

Global Renewables Will Advance Despite Construction And Debt Risks

Narrative Update: ACWA Power Analyst Price Target Analysts have maintained their fair value estimate for ACWA Power at SAR 197.40. There have only been minor adjustments to underlying discount rates and projected valuation metrics, reflecting continued confidence in the company's outlook despite modest refinements.
1211
ر.س63.65
Saudi Arabian Mining Company (Ma'aden)
7D
-4.4%
1Y
17.2%

Phosphate And Aluminum Expansion Will Challenge Valuation And Create Upside

Analysts have maintained their price target for Saudi Arabian Mining Company (Ma'aden) at SAR 54.08. This reflects continued confidence in the company's long-term fundamentals, despite only minor adjustments to underlying financial assumptions.
4200
ر.س150.70
Aldrees Petroleum and Transport Services
7D
4.4%
1Y
7.8%

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Oct 13
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4013
ر.س274.20
Dr. Sulaiman Al Habib Medical Services Group
7D
-1.7%
1Y
-6.7%

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Oct 11
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2222
ر.س25.74
Saudi Arabian Oil
7D
2.3%
1Y
-4.8%
1111
ر.س192.00
Saudi Tadawul Group Holding
7D
-7.1%
1Y
-21.8%
7020
ر.س66.85
Etihad Etisalat
7D
1.9%
1Y
28.3%

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2010
ر.س60.30
Saudi Basic Industries
7D
-2.6%
1Y
-17.8%

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With both revenue growth and future P/E forecasts holding steady, analysts have effectively maintained their fair value estimate for Saudi Basic Industries, with the consensus price target unchanged at SAR64.38. What's in the News SABIC will distribute interim cash dividends totaling SAR 4.5 billion at SAR 1.50 per share for H1 2025.
7010
ر.س45.04
Saudi Telecom
7D
0.7%
1Y
6.1%
5110
ر.س15.96
Saudi Electricity
7D
1.6%
1Y
-1.7%
2230
ر.س7.78
Saudi Chemical Holding
7D
7.0%
1Y
-32.8%