ADES Holding Company

SASE:2382 Stock Report

Market Cap: ر.س19.0b

ADES Holding Valuation

Is 2382 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 2382 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2382 (SAR17.28) is trading above our estimate of fair value (SAR13.96)

Significantly Below Fair Value: 2382 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2382?

Key metric: As 2382 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2382. This is calculated by dividing 2382's market cap by their current earnings.
What is 2382's PE Ratio?
PE Ratio24.9x
Earningsر.س762.28m
Market Capر.س18.99b

Price to Earnings Ratio vs Peers

How does 2382's PE Ratio compare to its peers?

The above table shows the PE ratio for 2382 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.6x
2381 Arabian Drilling
22.8x17.3%ر.س9.9b
4030 National Shipping Company of Saudi Arabia
9.2xn/aر.س19.3b
NE Noble
9.2x18.5%US$4.6b
2883 China Oilfield Services
9.2x24.2%HK$57.4b
2382 ADES Holding
24.9x15.7%ر.س19.0b

Price-To-Earnings vs Peers: 2382 is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the peer average (12.6x).

Price to Earnings Ratio vs Industry

How does 2382's PE Ratio compare vs other companies in the Asian Energy Services Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
2382 24.9xIndustry Avg. 14.3xNo. of Companies12PE01020304050+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2382 is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the Asian Energy Services industry average (14.3x).

Price to Earnings Ratio vs Fair Ratio

What is 2382'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.

2382 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.9x
Fair PE Ratio19.6x

Price-To-Earnings vs Fair Ratio: 2382 is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the estimated Fair Price-To-Earnings Ratio (19.6x).

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 2382 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentر.س17.28
ر.س19.55
+13.1%
14.1%ر.س24.30ر.س15.30n/a10
Dec ’25ر.س17.96
ر.س19.84
+10.5%
14.3%ر.س24.30ر.س16.00n/a10
Nov ’25ر.س19.78
ر.س19.81
+0.2%
13.3%ر.س24.30ر.س16.00n/a10
Oct ’25ر.س20.82
ر.س20.42
-1.9%
14.7%ر.س24.90ر.س16.00n/a10
Sep ’25ر.س20.44
ر.س20.14
-1.5%
13.9%ر.س24.90ر.س16.00n/a10
Aug ’25ر.س20.22
ر.س19.99
-1.1%
14.5%ر.س24.90ر.س16.00n/a9
Jul ’25ر.س20.08
ر.س20.02
-0.3%
14.5%ر.س24.90ر.س16.00n/a9
Jun ’25ر.س18.06
ر.س19.37
+7.2%
12.1%ر.س24.00ر.س16.00n/a9
May ’25ر.س19.74
ر.س19.44
-1.5%
14.9%ر.س26.00ر.س16.00n/a8
Apr ’25ر.س20.12
ر.س19.33
-3.9%
15.1%ر.س26.00ر.س15.50n/a9
Mar ’25ر.س20.00
ر.س18.44
-7.8%
9.4%ر.س20.90ر.س15.50n/a8
Feb ’25ر.س20.54
ر.س18.44
-10.2%
9.4%ر.س20.90ر.س15.50n/a8
Jan ’25ر.س24.64
ر.س19.53
-20.8%
12.9%ر.س23.00ر.س15.50n/a8
Dec ’24ر.س21.50
ر.س19.41
-9.7%
12.8%ر.س23.00ر.س15.50ر.س17.968
Nov ’24ر.س18.78
ر.س18.47
-1.6%
8.6%ر.س20.00ر.س15.50ر.س19.787

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 20:36
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

ADES Holding Company is covered by 16 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jassim Al-JubranAljazira Capital Company
Madhu AppissaAl Rajhi Capital
Mazen Al-SudairiAl Rajhi Capital