The Saudi National Bank

SASE:1180 Stock Report

Market Cap: ر.س220.9b

Saudi National Bank Valuation

Is 1180 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 1180 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 1180's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 1180's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1180?

Key metric: As 1180 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1180. This is calculated by dividing 1180's market cap by their current earnings.
What is 1180's PE Ratio?
PE Ratio9.5x
Earningsر.س23.18b
Market Capر.س220.94b

Price to Earnings Ratio vs Peers

How does 1180's PE Ratio compare to its peers?

The above table shows the PE ratio for 1180 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.9x
1120 Al Rajhi Banking and Investment
17x12.34%ر.س384.0b
1010 Riyad Bank
8.1x5.06%ر.س77.2b
1060 Saudi Awwal Bank
7.8x5.41%ر.س63.3b
1150 Alinma Bank
10.6x9.35%ر.س60.8b
1180 Saudi National Bank
9.5x6.32%ر.س220.9b

Price-To-Earnings vs Peers: 1180 is good value based on its Price-To-Earnings Ratio (9.5x) compared to the peer average (10.9x).

Price to Earnings Ratio vs Industry

How does 1180's PE Ratio compare vs other companies in the Asian Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
1180 9.5xIndustry Avg. 9.7xNo. of Companies71PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1180 is good value based on its Price-To-Earnings Ratio (9.5x) compared to the Asian Banks industry average (9.7x).

Price to Earnings Ratio vs Fair Ratio

What is 1180'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.

1180 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.5x
Fair PE Ratio10.6x

Price-To-Earnings vs Fair Ratio: 1180 is good value based on its Price-To-Earnings Ratio (9.5x) compared to the estimated Fair Price-To-Earnings Ratio (10.6x).

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 1180 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentر.س37.22
ر.س47.83
+28.50%
5.99%ر.س52.00ر.س42.90n/a14
Nov ’26ر.س39.88
ر.س46.80
+17.35%
5.50%ر.س52.00ر.س44.00n/a14
Oct ’26ر.س39.30
ر.س46.55
+18.44%
5.60%ر.س52.00ر.س43.00n/a15
Sep ’26ر.س35.82
ر.س46.58
+30.04%
5.69%ر.س52.00ر.س43.00n/a15
Aug ’26ر.س37.50
ر.س47.14
+25.72%
6.81%ر.س53.50ر.س41.50n/a16
Jul ’26ر.س35.72
ر.س47.09
+31.84%
7.03%ر.س53.50ر.س41.50n/a16
Jun ’26ر.س33.85
ر.س46.97
+38.75%
7.41%ر.س53.50ر.س41.50n/a15
May ’26ر.س34.90
ر.س46.60
+33.52%
8.34%ر.س53.50ر.س39.80n/a15
Apr ’26ر.س35.85
ر.س46.88
+30.76%
7.56%ر.س53.50ر.س39.90n/a14
Mar ’26ر.س35.00
ر.س46.74
+33.53%
7.07%ر.س52.00ر.س39.90n/a14
Feb ’26ر.س34.20
ر.س46.02
+34.55%
8.35%ر.س51.50ر.س37.90n/a14
Jan ’26ر.س33.40
ر.س46.80
+40.12%
9.26%ر.س55.00ر.س38.40n/a15
Dec ’25ر.س32.50
ر.س46.80
+44.00%
9.26%ر.س55.00ر.س38.40ر.س36.4015
Nov ’25ر.س33.15
ر.س47.02
+41.84%
8.86%ر.س55.00ر.س38.40ر.س39.8815
Oct ’25ر.س34.60
ر.س47.22
+36.48%
8.91%ر.س55.00ر.س38.40ر.س39.3014
Sep ’25ر.س35.20
ر.س47.35
+34.52%
8.51%ر.س55.00ر.س38.90ر.س35.8214
Aug ’25ر.س38.05
ر.س47.17
+23.97%
7.95%ر.س55.00ر.س40.40ر.س37.5014
Jul ’25ر.س36.15
ر.س47.02
+30.07%
7.98%ر.س55.00ر.س40.40ر.س35.7214
Jun ’25ر.س33.85
ر.س46.87
+38.47%
8.00%ر.س55.00ر.س40.40ر.س33.8515
May ’25ر.س37.25
ر.س47.61
+27.80%
6.91%ر.س55.00ر.س41.00ر.س34.9015
Apr ’25ر.س39.70
ر.س47.54
+19.75%
6.79%ر.س55.00ر.س41.00ر.س35.8515
Mar ’25ر.س42.35
ر.س45.96
+8.52%
7.34%ر.س51.00ر.س39.40ر.س35.0014
Feb ’25ر.س41.15
ر.س44.54
+8.23%
8.31%ر.س52.00ر.س39.40ر.س34.2014
Jan ’25ر.س38.80
ر.س41.96
+8.15%
9.95%ر.س47.00ر.س31.30ر.س33.4013
Dec ’24ر.س34.95
ر.س42.04
+20.28%
10.13%ر.س47.00ر.س31.30ر.س32.5013
ر.س47.83
Fair Value
22.2% undervalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/05 02:50
End of Day Share Price 2025/12/04 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

The Saudi National Bank is covered by 20 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ranya GnabaAlphaMena
Kais KriaaAlphaMena
Jaap MeijerArqaam Capital Research Offshore S.A.L.