Almarai Company

SASE:2280 Stock Report

Market Cap: ر.س51.6b

Almarai Valuation

Is 2280 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 2280 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
ر.س83.64
Fair Value
38.1% undervalued intrinsic discount
15
Number of Analysts

Below Fair Value: 2280 (SAR51.8) is trading below our estimate of fair value (SAR83.64)

Significantly Below Fair Value: 2280 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2280?

Key metric: As 2280 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2280. This is calculated by dividing 2280's market cap by their current earnings.
What is 2280's PE Ratio?
PE Ratio22x
Earningsر.س2.35b
Market Capر.س51.60b

Price to Earnings Ratio vs Peers

How does 2280's PE Ratio compare to its peers?

The above table shows the PE ratio for 2280 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.9x
2270 Saudia Dairy & Foodstuff
19.8x10.5%ر.س9.5b
2050 Savola Group
0.8x-104.2%ر.س9.3b
2283 First Milling
12.5x11.2%ر.س3.2b
2284 Modern Mills
14.3x11.8%ر.س3.0b
2280 Almarai
22x9.7%ر.س51.6b

Price-To-Earnings vs Peers: 2280 is expensive based on its Price-To-Earnings Ratio (22x) compared to the peer average (11.9x).

Price to Earnings Ratio vs Industry

How does 2280's PE Ratio compare vs other companies in the SA Food Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
2050 Savola Group
0.8x-104.2%US$2.48b
No more companies available in this PE range
2280 22.0xIndustry Avg. 19.4xNo. of Companies4PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2280 is expensive based on its Price-To-Earnings Ratio (22x) compared to the SA Food industry average (20.2x).

Price to Earnings Ratio vs Fair Ratio

What is 2280'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.

2280 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22x
Fair PE Ratio20.9x

Price-To-Earnings vs Fair Ratio: 2280 is expensive based on its Price-To-Earnings Ratio (22x) compared to the estimated Fair Price-To-Earnings Ratio (20.9x).

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 2280 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentر.س51.80
ر.س65.04
+25.6%
6.2%ر.س71.50ر.س57.50n/a15
Apr ’26ر.س55.60
ر.س66.49
+19.6%
5.7%ر.س71.50ر.س58.00n/a14
Mar ’26ر.س56.80
ر.س66.49
+17.1%
5.7%ر.س71.50ر.س58.00n/a14
Feb ’26ر.س58.90
ر.س66.63
+13.1%
5.3%ر.س71.50ر.س60.00n/a14
Jan ’26ر.س56.80
ر.س66.93
+17.8%
5.7%ر.س71.50ر.س60.00n/a13
Dec ’25ر.س57.00
ر.س66.93
+17.4%
5.7%ر.س71.50ر.س60.00n/a13
Nov ’25ر.س55.10
ر.س65.88
+19.6%
5.7%ر.س71.50ر.س60.00n/a14
Oct ’25ر.س55.70
ر.س65.71
+18.0%
5.1%ر.س71.50ر.س61.90n/a13
Sep ’25ر.س54.00
ر.س65.71
+21.7%
5.1%ر.س71.50ر.س61.90n/a13
Aug ’25ر.س59.90
ر.س65.13
+8.7%
5.8%ر.س71.50ر.س58.00n/a14
Jul ’25ر.س56.90
ر.س64.70
+13.7%
5.8%ر.س71.00ر.س58.00n/a14
Jun ’25ر.س52.30
ر.س64.70
+23.7%
5.8%ر.س71.00ر.س58.00n/a14
May ’25ر.س56.20
ر.س63.62
+13.2%
6.6%ر.س71.00ر.س55.00ر.س52.0014
Apr ’25ر.س57.00
ر.س63.41
+11.2%
6.6%ر.س71.00ر.س55.00ر.س55.6014
Mar ’25ر.س58.80
ر.س63.38
+7.8%
6.6%ر.س71.00ر.س55.00ر.س56.8014
Feb ’25ر.س57.10
ر.س64.27
+12.5%
6.8%ر.س71.00ر.س55.00ر.س58.9014
Jan ’25ر.س55.50
ر.س63.55
+14.5%
7.2%ر.س73.00ر.س54.00ر.س56.8014
Dec ’24ر.س55.80
ر.س63.55
+13.9%
7.2%ر.س73.00ر.س54.00ر.س57.0014
Nov ’24ر.س55.20
ر.س63.78
+15.5%
7.0%ر.س73.00ر.س54.00ر.س55.1015
Oct ’24ر.س63.40
ر.س64.50
+1.7%
7.0%ر.س73.00ر.س54.00ر.س55.7013
Sep ’24ر.س63.40
ر.س62.48
-1.4%
7.4%ر.س73.00ر.س54.00ر.س54.0013
Aug ’24ر.س67.60
ر.س62.48
-7.6%
7.4%ر.س73.00ر.س54.00ر.س59.9013
Jul ’24n/a
ر.س60.11
0%
8.5%ر.س68.00ر.س50.00ر.س56.9014
Jun ’24ر.س54.50
ر.س58.69
+7.7%
8.9%ر.س68.00ر.س50.00ر.س52.3014
May ’24ر.س58.00
ر.س57.72
-0.5%
8.6%ر.س66.00ر.س50.00ر.س56.2014
AnalystConsensusTarget
Consensus Narrative from 15 Analysts
ر.س65.04
Fair Value
20.4% undervalued intrinsic discount
15
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 Analysis2025/05/06 09:09
End of Day Share Price 2025/05/06 00:00
Earnings2025/03/31
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

Almarai Company is covered by 28 analysts. 14 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
Fahad QureshiAljazira Capital Company
Imen Ben AhmedAlphaMena