Etihad Etisalat Valuation

Is 7020 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

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 7020 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 7020 (SAR54.9) is trading below our estimate of fair value (SAR74.8)

Significantly Below Fair Value: 7020 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 7020?

Key metric: As 7020 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 7020. This is calculated by dividing 7020's market cap by their current earnings.
What is 7020's PE Ratio?
PE Ratio	14.7x
Earnings	ر.س2.87b
Market Cap	ر.س41.66b

7020 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.7x
Enterprise Value/EBITDA	7.5x
PEG Ratio	1.8x

Price to Earnings Ratio vs Peers

How does 7020's PE Ratio compare to its peers?

The above table shows the PE ratio for 7020 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	25.1x
7030 Mobile Telecommunications Company Saudi Arabia	34.8x	23.5%	ر.س9.4b
7010 Saudi Telecom	14.9x	6.5%	ر.س197.7b
3045 Taiwan Mobile	24.3x	5.6%	NT$340.3b
4904 Far EasTone Telecommunications	26.4x	10.4%	NT$317.7b
7020 Etihad Etisalat	14.7x	8.4%	ر.س41.7b

Price-To-Earnings vs Peers: 7020 is good value based on its Price-To-Earnings Ratio (14.7x) compared to the peer average (25.1x).

Price to Earnings Ratio vs Industry

How does 7020's PE Ratio compare vs other companies in the Asian Wireless Telecom Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 7020 is good value based on its Price-To-Earnings Ratio (14.7x) compared to the Asian Wireless Telecom industry average (17.9x).

Price to Earnings Ratio vs Fair Ratio

What is 7020'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.

7020 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	14.7x
Fair PE Ratio	21.7x

Price-To-Earnings vs Fair Ratio: 7020 is good value based on its Price-To-Earnings Ratio (14.7x) compared to the estimated Fair Price-To-Earnings Ratio (21.7x).

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 7020 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	ر.س54.90	ر.س61.20 +11.5%	8.3%	ر.س70.00	ر.س48.00	n/a	13
Nov ’25	ر.س51.80	ر.س60.43 +16.7%	8.6%	ر.س70.00	ر.س48.00	n/a	13
Oct ’25	ر.س51.60	ر.س60.35 +17.0%	8.5%	ر.س70.00	ر.س48.00	n/a	13
Sep ’25	ر.س51.40	ر.س60.32 +17.4%	8.4%	ر.س70.00	ر.س48.00	n/a	13
Aug ’25	ر.س51.20	ر.س60.44 +18.0%	8.6%	ر.س72.00	ر.س48.00	n/a	14
Jul ’25	ر.س52.30	ر.س60.63 +15.9%	8.6%	ر.س72.00	ر.س48.00	n/a	14
Jun ’25	ر.س46.75	ر.س59.61 +27.5%	7.4%	ر.س65.00	ر.س48.00	n/a	12
May ’25	ر.س51.70	ر.س59.71 +15.5%	7.7%	ر.س65.00	ر.س48.00	n/a	11
Apr ’25	ر.س51.50	ر.س59.71 +16.0%	7.7%	ر.س65.00	ر.س48.00	n/a	11
Mar ’25	ر.س55.30	ر.س57.15 +3.3%	9.9%	ر.س65.00	ر.س48.00	n/a	10
Feb ’25	ر.س52.50	ر.س55.89 +6.5%	10.6%	ر.س65.00	ر.س48.00	n/a	10
Jan ’25	ر.س50.00	ر.س53.07 +6.1%	6.6%	ر.س60.00	ر.س48.00	n/a	9
Dec ’24	ر.س46.20	ر.س51.83 +12.2%	9.7%	ر.س60.00	ر.س40.00	n/a	10
Nov ’24	ر.س47.75	ر.س51.54 +7.9%	9.0%	ر.س57.10	ر.س40.00	ر.س51.80	10
Oct ’24	ر.س44.45	ر.س50.62 +13.9%	9.4%	ر.س57.10	ر.س40.00	ر.س51.60	11
Sep ’24	ر.س45.15	ر.س50.56 +12.0%	9.3%	ر.س56.10	ر.س40.00	ر.س51.40	10
Aug ’24	ر.س45.80	ر.س50.48 +10.2%	10.4%	ر.س59.10	ر.س40.00	ر.س51.20	10
Jul ’24	n/a	ر.س48.82 0%	10.1%	ر.س56.10	ر.س40.00	ر.س52.30	10
Jun ’24	ر.س43.00	ر.س48.61 +13.0%	9.8%	ر.س56.10	ر.س40.00	ر.س46.75	10
May ’24	ر.س44.45	ر.س45.12 +1.5%	13.3%	ر.س56.10	ر.س32.40	ر.س51.70	11
Apr ’24	ر.س41.25	ر.س43.99 +6.6%	12.3%	ر.س53.90	ر.س32.40	ر.س51.50	11
Mar ’24	ر.س39.95	ر.س42.95 +7.5%	12.6%	ر.س53.90	ر.س32.40	ر.س55.30	11
Feb ’24	ر.س35.75	ر.س42.34 +18.4%	12.0%	ر.س50.70	ر.س32.40	ر.س52.50	10
Jan ’24	ر.س34.85	ر.س42.23 +21.2%	11.5%	ر.س50.70	ر.س32.40	ر.س50.00	10
Dec ’23	ر.س37.00	ر.س42.66 +15.3%	11.8%	ر.س50.70	ر.س32.40	ر.س46.20	11
Nov ’23	ر.س37.60	ر.س42.63 +13.4%	11.8%	ر.س50.70	ر.س32.40	ر.س47.75	11

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