Masraf Al Rayan (Q.P.S.C.)

DSM:MARK Stock Report

Market Cap: ر.ق23.1b

Masraf Al Rayan (Q.P.S.C.) Valuation

Is MARK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate MARK's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MARK's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As MARK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MARK. This is calculated by dividing MARK's market cap by their current earnings.
What is MARK's PE Ratio?
PE Ratio15.8x
Earningsر.ق1.46b
Market Capر.ق23.06b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MARK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.8x
QIIK Qatar International Islamic Bank (Q.P.S.C)
14.5x10.6%ر.ق16.3b
CBQK Commercial Bank (P.S.Q.C.)
6.3x1.6%ر.ق17.6b
QIBK Qatar Islamic Bank (Q.P.S.C.)
11.7x1.7%ر.ق50.1b
ABQK Ahli Bank Q.P.S.C
10.8x6.6%ر.ق8.9b
MARK Masraf Al Rayan (Q.P.S.C.)
15.8x13.4%ر.ق23.0b

Price-To-Earnings vs Peers: MARK is expensive based on its Price-To-Earnings Ratio (15.8x) compared to the peer average (10.8x).

Price to Earnings Ratio vs Industry

How does MARK's PE Ratio compare vs other companies in the Asian Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MARK 15.8xIndustry Avg. 8.7xNo. of Companies84PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MARK is expensive based on its Price-To-Earnings Ratio (15.8x) compared to the Asian Banks industry average (8.7x).

Price to Earnings Ratio vs Fair Ratio

What is MARK'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.

MARK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.8x
Fair PE Ratio11.8x

Price-To-Earnings vs Fair Ratio: MARK is expensive based on its Price-To-Earnings Ratio (15.8x) compared to the estimated Fair Price-To-Earnings Ratio (11.8x).

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 MARK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentر.ق2.47
ر.ق2.56
+3.3%
7.0%ر.ق2.79ر.ق2.30n/a4
Dec ’25ر.ق2.41
ر.ق2.56
+6.3%
7.0%ر.ق2.79ر.ق2.30n/a4
Nov ’25ر.ق2.37
ر.ق2.47
+4.1%
4.7%ر.ق2.62ر.ق2.30n/a4
Oct ’25ر.ق2.48
ر.ق2.38
-3.9%
13.0%ر.ق2.62ر.ق1.86n/a4
Sep ’25ر.ق2.34
ر.ق2.38
+2.0%
13.0%ر.ق2.62ر.ق1.86n/a4
Aug ’25ر.ق2.32
ر.ق2.38
+2.8%
13.0%ر.ق2.62ر.ق1.86n/a4
Jul ’25ر.ق2.30
ر.ق2.40
+4.5%
10.4%ر.ق2.62ر.ق2.00n/a4
Jun ’25ر.ق2.30
ر.ق2.40
+4.4%
10.4%ر.ق2.62ر.ق2.00n/a4
May ’25ر.ق2.50
ر.ق2.40
-3.8%
10.4%ر.ق2.62ر.ق2.00n/a4
Apr ’25ر.ق2.34
ر.ق2.40
+2.8%
10.4%ر.ق2.62ر.ق2.00n/a4
Mar ’25ر.ق2.53
ر.ق2.44
-3.6%
11.8%ر.ق2.77ر.ق2.00n/a4
Feb ’25ر.ق2.30
ر.ق2.46
+7.1%
10.2%ر.ق2.77ر.ق2.10n/a4
Jan ’25ر.ق2.66
ر.ق2.44
-8.0%
9.8%ر.ق2.77ر.ق2.10n/a4
Dec ’24ر.ق2.49
ر.ق2.44
-1.7%
9.8%ر.ق2.77ر.ق2.10ر.ق2.414
Nov ’24ر.ق2.08
ر.ق2.32
+11.2%
22.5%ر.ق3.11ر.ق1.70ر.ق2.374
Oct ’24ر.ق2.21
ر.ق2.32
+5.2%
22.2%ر.ق3.11ر.ق1.70ر.ق2.484
Sep ’24ر.ق2.22
ر.ق2.51
+13.2%
25.0%ر.ق3.14ر.ق1.70ر.ق2.344
Aug ’24ر.ق2.53
ر.ق2.51
-0.6%
25.0%ر.ق3.14ر.ق1.70ر.ق2.324
Jul ’24ر.ق2.56
ر.ق2.55
-0.6%
23.9%ر.ق3.14ر.ق1.70ر.ق2.304
Jun ’24ر.ق2.60
ر.ق2.56
-1.4%
22.7%ر.ق3.14ر.ق1.80ر.ق2.304
May ’24ر.ق2.64
ر.ق2.71
+2.8%
20.0%ر.ق3.14ر.ق1.80ر.ق2.504
Apr ’24ر.ق2.96
ر.ق3.01
+2.0%
27.5%ر.ق4.14ر.ق1.80ر.ق2.344
Mar ’24ر.ق2.70
ر.ق3.01
+11.6%
27.5%ر.ق4.14ر.ق1.80ر.ق2.534
Feb ’24ر.ق2.68
ر.ق3.90
+45.5%
33.2%ر.ق5.34ر.ق1.80ر.ق2.304
Jan ’24ر.ق3.17
ر.ق3.90
+22.8%
33.2%ر.ق5.34ر.ق1.80ر.ق2.664
Dec ’23ر.ق3.57
ر.ق3.97
+11.2%
29.6%ر.ق5.34ر.ق2.10ر.ق2.494

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 14:12
End of Day Share Price 2024/12/22 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Masraf Al Rayan (Q.P.S.C.) is covered by 10 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jaap MeijerArqaam Capital Research Offshore S.A.L.
Rahul ShahDeutsche Bank
Elena Sanchez-CabezudoEFG-Hermes Research