Mari Petroleum (KASE:MARI) Stock Valuation, Peer Comparison & Price Targets

Q: What is the Fair Price of MARI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

MARI (PKR2719.2) is trading above our estimate of [[fair value]] (PKR950.01)

Share Price vs Fair Value

What is the Fair Price of MARI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MARI (PKR2719.2) is trading above our estimate of fair value (PKR950.01)

Significantly Below Fair Value: MARI is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MARI?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MARI. This is calculated by dividing MARI's market cap by their current preferred multiple.
What is MARI's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	PK₨367.58b

MARI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.8x
Enterprise Value/EBITDA	2.7x
PEG Ratio	0.3x

Price to Earnings Ratio vs Peers

How does MARI's PE Ratio compare to its peers?

The above table shows the PE ratio for MARI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	3.7x
PPL Pakistan Petroleum	3x	2.1%	PK₨341.0b
OGDC Oil and Gas Development	2.5x	12.6%	PK₨589.1b
POL Pakistan Oilfields	3.5x	7.7%	PK₨127.4b
PSO Pakistan State Oil	5.9x	43.1%	PK₨84.1b
MARI Mari Petroleum	5.4x	16.9%	PK₨367.6b

Price-To-Earnings vs Peers: MARI is expensive based on its Price-To-Earnings Ratio (5.4x) compared to the peer average (3.7x).

Price to Earnings Ratio vs Industry

How does MARI's PE Ratio compare vs other companies in the Asian Oil and Gas Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	11.5%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	11.5%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: MARI is good value based on its Price-To-Earnings Ratio (5.4x) compared to the Asian Oil and Gas industry average (10.3x).

Price to Earnings Ratio vs Fair Ratio

What is MARI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MARI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	5.4x
Fair PE Ratio	4.5x

Price-To-Earnings vs Fair Ratio: MARI is expensive based on its Price-To-Earnings Ratio (5.4x) compared to the estimated Fair Price-To-Earnings Ratio (4.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MARI forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	PK₨2,719.20	PK₨2,800.27 +3.0%	10.3%	PK₨3,225.00	PK₨2,300.00	n/a	9
Apr ’25	PK₨2,517.51	PK₨2,723.38 +8.2%	11.7%	PK₨3,144.00	PK₨2,100.00	n/a	9
Mar ’25	PK₨2,462.05	PK₨2,723.38 +10.6%	11.7%	PK₨3,144.00	PK₨2,100.00	n/a	9
Feb ’25	PK₨2,328.14	PK₨2,723.38 +17.0%	11.7%	PK₨3,144.00	PK₨2,100.00	n/a	9
Jan ’25	PK₨2,147.30	PK₨2,631.51 +22.5%	9.1%	PK₨3,000.00	PK₨2,280.00	n/a	8
Dec ’24	PK₨1,718.72	PK₨2,565.64 +49.3%	7.1%	PK₨2,770.00	PK₨2,280.00	n/a	8
Nov ’24	PK₨1,588.75	PK₨2,565.64 +61.5%	7.1%	PK₨2,770.00	PK₨2,280.00	n/a	8
Oct ’24	PK₨1,560.10	PK₨2,438.96 +56.3%	10.8%	PK₨2,754.00	PK₨1,990.00	n/a	8
Sep ’24	PK₨1,615.22	PK₨2,438.96 +51.0%	10.8%	PK₨2,754.00	PK₨1,990.00	n/a	8
Aug ’24	PK₨1,639.26	PK₨2,490.59 +51.9%	10.8%	PK₨2,900.00	PK₨2,096.60	n/a	8
Jul ’24	PK₨1,514.64	PK₨2,490.59 +64.4%	10.8%	PK₨2,900.00	PK₨2,096.60	n/a	8
Jun ’24	PK₨1,533.52	PK₨2,490.58 +62.4%	10.8%	PK₨2,900.00	PK₨2,096.60	n/a	8
May ’24	PK₨1,589.86	PK₨2,430.81 +52.9%	10.8%	PK₨2,900.00	PK₨2,096.60	PK₨2,727.24	7
Apr ’24	PK₨1,513.30	PK₨2,480.80 +63.9%	9.4%	PK₨2,900.00	PK₨2,096.60	PK₨2,517.51	7
Mar ’24	PK₨1,440.52	PK₨2,423.66 +68.2%	6.7%	PK₨2,597.00	PK₨2,096.60	PK₨2,462.05	7
Feb ’24	PK₨1,510.72	PK₨2,423.66 +60.4%	6.7%	PK₨2,597.00	PK₨2,096.60	PK₨2,328.14	7
Jan ’24	PK₨1,546.96	PK₨2,543.98 +64.5%	14.1%	PK₨3,330.00	PK₨2,170.00	PK₨2,147.30	7
Dec ’23	PK₨1,674.53	PK₨2,543.98 +51.9%	14.1%	PK₨3,330.00	PK₨2,170.00	PK₨1,718.72	7
Nov ’23	PK₨1,680.12	PK₨2,431.12 +44.7%	6.7%	PK₨2,685.84	PK₨2,170.00	PK₨1,588.75	7
Oct ’23	PK₨1,564.81	PK₨2,388.11 +52.6%	6.0%	PK₨2,564.00	PK₨2,170.00	PK₨1,560.10	7
Sep ’23	PK₨1,705.83	PK₨2,362.80 +38.5%	5.8%	PK₨2,564.00	PK₨2,170.00	PK₨1,615.22	6
Aug ’23	PK₨1,695.14	PK₨2,190.13 +29.2%	15.6%	PK₨2,564.00	PK₨1,401.00	PK₨1,639.26	8
Jul ’23	PK₨1,746.82	PK₨2,169.00 +24.2%	15.1%	PK₨2,564.00	PK₨1,401.00	PK₨1,514.64	9
Jun ’23	PK₨1,650.94	PK₨2,119.00 +28.4%	15.0%	PK₨2,522.80	PK₨1,401.00	PK₨1,533.52	8
May ’23	PK₨1,715.54	PK₨2,221.57 +29.5%	8.0%	PK₨2,522.80	PK₨2,000.00	PK₨1,589.86	7

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Mari Petroleum Valuation