Arabian Drilling Valuation
Is 2381 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
1/6Valuation Score 1/6
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 2381 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 2381 (SAR110.4) is trading above our estimate of fair value (SAR59.08)
Significantly Below Fair Value: 2381 is trading above our estimate of fair value.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 2381?
Key metric: As 2381 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is 2381's PE Ratio? | |
|---|---|
| PE Ratio | 22.6x |
| Earnings | ر.س434.06m |
| Market Cap | ر.س9.83b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 3.3x |
| Enterprise Value/EBITDA | 8.2x |
| PEG Ratio | 1.4x |
Price to Earnings Ratio vs Peers
How does 2381's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 11.4x | ||
2382 ADES Holding | 26.2x | 21.8% | ر.س20.0b |
4030 National Shipping Company of Saudi Arabia | 10x | n/a | ر.س21.0b |
SDRL Seadrill | 6.3x | -3.6% | US$2.7b |
VAL Valaris | 3.2x | -8.7% | US$3.4b |
2381 Arabian Drilling | 22.6x | 16.3% | ر.س9.8b |
Price-To-Earnings vs Peers: 2381 is expensive based on its Price-To-Earnings Ratio (22.6x) compared to the peer average (11.4x).
Price to Earnings Ratio vs Industry
How does 2381's PE Ratio compare vs other companies in the Asian Energy Services Industry?
| 8 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 8 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: 2381 is expensive based on its Price-To-Earnings Ratio (22.6x) compared to the Asian Energy Services industry average (15.6x).
Price to Earnings Ratio vs Fair Ratio
What is 2381'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 22.6x |
| Fair PE Ratio | 18.4x |
Price-To-Earnings vs Fair Ratio: 2381 is expensive based on its Price-To-Earnings Ratio (22.6x) compared to the estimated Fair Price-To-Earnings Ratio (18.4x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | ر.س110.40 | ر.س143.83 +30.3% | 11.1% | ر.س170.00 | ر.س120.00 | n/a | 10 |
| Nov ’25 | ر.س110.00 | ر.س144.43 +31.3% | 10.6% | ر.س170.00 | ر.س120.00 | n/a | 10 |
| Oct ’25 | ر.س115.00 | ر.س146.43 +27.3% | 11.5% | ر.س170.00 | ر.س120.00 | n/a | 10 |
| Sep ’25 | ر.س119.00 | ر.س151.08 +27.0% | 11.7% | ر.س190.00 | ر.س126.10 | n/a | 10 |
| Aug ’25 | ر.س128.20 | ر.س156.19 +21.8% | 12.1% | ر.س190.00 | ر.س135.00 | n/a | 9 |
| Jul ’25 | ر.س135.00 | ر.س164.40 +21.8% | 12.1% | ر.س200.00 | ر.س136.00 | n/a | 9 |
| Jun ’25 | ر.س134.80 | ر.س166.76 +23.7% | 12.1% | ر.س200.00 | ر.س136.00 | n/a | 10 |
| May ’25 | ر.س151.00 | ر.س173.56 +14.9% | 10.6% | ر.س200.00 | ر.س136.00 | n/a | 9 |
| Apr ’25 | ر.س168.00 | ر.س178.73 +6.4% | 8.9% | ر.س209.00 | ر.س155.60 | n/a | 9 |
| Mar ’25 | ر.س175.80 | ر.س182.59 +3.9% | 8.0% | ر.س209.00 | ر.س156.00 | n/a | 8 |
| Feb ’25 | ر.س173.60 | ر.س182.59 +5.2% | 8.0% | ر.س209.00 | ر.س156.00 | n/a | 8 |
| Jan ’25 | ر.س194.20 | ر.س180.67 -7.0% | 9.8% | ر.س213.00 | ر.س156.00 | n/a | 7 |
| Dec ’24 | ر.س175.00 | ر.س178.37 +1.9% | 9.7% | ر.س213.00 | ر.س156.00 | n/a | 7 |
| Nov ’24 | ر.س174.80 | ر.س173.65 -0.7% | 10.5% | ر.س215.00 | ر.س152.00 | ر.س110.00 | 8 |
| Oct ’24 | ر.س189.40 | ر.س169.46 -10.5% | 4.9% | ر.س181.10 | ر.س155.60 | ر.س115.00 | 7 |
| Sep ’24 | ر.س185.60 | ر.س167.81 -9.6% | 4.5% | ر.س181.10 | ر.س155.60 | ر.س119.00 | 7 |
| Aug ’24 | ر.س182.40 | ر.س165.14 -9.5% | 3.3% | ر.س175.00 | ر.س155.60 | ر.س128.20 | 7 |
| Jul ’24 | n/a | ر.س161.61 0% | 5.4% | ر.س175.00 | ر.س145.00 | ر.س135.00 | 7 |
| Jun ’24 | ر.س152.00 | ر.س161.57 +6.3% | 5.4% | ر.س175.00 | ر.س145.00 | ر.س134.80 | 7 |
| May ’24 | ر.س149.60 | ر.س156.82 +4.8% | 4.8% | ر.س168.00 | ر.س145.00 | ر.س151.00 | 6 |
| Apr ’24 | ر.س152.80 | ر.س157.06 +2.8% | 5.2% | ر.س168.00 | ر.س145.00 | ر.س168.00 | 5 |
| Mar ’24 | ر.س141.00 | ر.س149.70 +6.2% | 4.1% | ر.س157.00 | ر.س142.00 | ر.س175.80 | 3 |
| Feb ’24 | ر.س140.40 | ر.س149.70 +6.6% | 4.1% | ر.س157.00 | ر.س142.00 | ر.س173.60 | 3 |
| Jan ’24 | ر.س113.20 | ر.س149.05 +31.7% | 1.3% | ر.س151.00 | ر.س147.10 | ر.س194.20 | 2 |
| Dec ’23 | ر.س118.20 | ر.س149.05 +26.1% | 1.3% | ر.س151.00 | ر.س147.10 | ر.س175.00 | 2 |
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.