ACWA Power Company

SASE:2082 Stock Report

Market Cap: ر.س135.5b

ACWA Power Future Growth

Future criteria checks 4/6

ACWA Power is forecast to grow earnings and revenue by 25.1% and 17.6% per annum respectively. EPS is expected to grow by 24.9% per annum. Return on equity is forecast to be 11.9% in 3 years.

Key information

25.1%

Earnings growth rate

24.93%

EPS growth rate

Renewable Energy earnings growth11.7%
Revenue growth rate17.6%
Future return on equity11.95%
Analyst coverage

Good

Last updated20 May 2026

Recent future growth updates

Recent updates

Narrative Update • Apr 30

2082: Higher Margin And P/E Assumptions Will Sustain Current Overvaluation

Analysts have kept their SAR100.00 price target for ACWA Power unchanged, citing a slightly higher discount rate and P/E assumptions together with updated revenue growth and margin expectations as key reasons for maintaining their view. What's in the News The Board plans to meet on March 12, 2026, to vote on appointing Yazeed bin Abdulrahman Al Humaid to fill a vacant Board seat through January 4, 2029, alongside other business items (Board Meeting).
Narrative Update • Apr 16

2082: New Leadership And Large Gulf Projects Will Support Future Returns

Analysts have maintained their SAR245.00 price target for ACWA Power, noting only minor adjustments to assumptions on discount rate, revenue growth, profit margin, and future P/E that do not materially change their overall view. What's in the News Appointment of Dr. Samir J.
Narrative Update • Apr 02

2082: New Leadership And Major Projects Will Drive Future Earnings

Analysts have adjusted their price target on ACWA Power from SAR 280 to SAR 245, reflecting updated views on fair value, discount rate, revenue growth, profit margins, and future P/E assumptions. What's in the News Appointment of Dr. Samir J.
Narrative Update • Mar 18

2082: Higher Margin Assumptions Will Eventually Undermine Current Overvaluation

Analysts have maintained their SAR 100.00 price target for ACWA Power, reflecting updated assumptions of slightly lower revenue growth and discount rate, a higher expected profit margin, and a modestly lower future P/E multiple. What's in the News The Board has appointed Dr. Samir J.
Narrative Update • Mar 04

2082: New Leadership And Long-Term Projects Will Support Stronger Future Earnings

Analysts have maintained their SAR 280.00 price target for ACWA Power, citing updated assumptions regarding slightly different discount rates, revenue growth, profit margins and future P/E ratios that continue to support the previous valuation level. What's in the News ACWA Power appointed Dr. Samir J.
Narrative Update • Feb 18

2082: Higher Discount Rate Will Outweigh New Long-Term Project Wins

Analysts have trimmed their fair value estimate for ACWA Power from SAR110.00 to SAR100.00 because higher assumed discount rates and a lower future P/E offset updated expectations for revenue growth and profit margins. What's in the News Signed an Energy Conversion and Water Purchase Agreement for the Az-Zour North Phase 2 & 3 IWPP in Kuwait, a CCGT plant with 2,700 MW power capacity and a seawater reverse osmosis facility targeting around 545,500 m³ per day, under a 25 year BOT structure with the Ministry of Electricity, Water and Renewable Energy (Client Announcements) ACWA Power holds an effective 24% share in the Az-Zour North Phase 2 & 3 project, with contracted revenues expected to be reflected at financial close (Client Announcements) Signed a Public Private Partnership Agreement for Azerbaijan’s first large scale Caspian Sea seawater reverse osmosis desalination plant, with a contract value of about US$400m (SAR 1.5b) and a 27.5 year term including construction, dated 26 December 2025 (Client Announcements) Completed financial close for five large scale PV solar plants in Saudi Arabia, with capacities of 2,000 MW, 2,000 MW, 3,000 MW, 3,000 MW and 2,000 MW and a combined financing amount of SAR 16.9b (about US$4.5b) to support development, construction and operation (Business Expansions) Scheduled a special or extraordinary shareholders meeting in Riyadh, Saudi Arabia, on 23 February 2026 at 21:30 Arab Standard Time (Special/Extraordinary Shareholders Meeting) Valuation Changes Fair Value: Trimmed from SAR110.00 to SAR100.00, a reduction of about 9% in the updated assessment.
Narrative Update • Feb 04

2082: Long-Term Projects And Stable Outlook Will Support Stronger Future Earnings

Analysts have kept their fair value estimate for ACWA Power steady at SAR 280.0, with only minor model tweaks to the discount rate, revenue growth, profit margin, and future P/E underpinning the unchanged price target. What's in the News ACWA Power plans a Special or Extraordinary Shareholders Meeting on February 23, 2026, at 21:30 Arab Standard Time in Riyadh, Saudi Arabia, giving investors a formal event to watch for potential updates on governance or capital decisions (Key Developments).
Analysis Article • Jan 31

Shareholders Should Be Pleased With ACWA Power Company's (TADAWUL:2082) Price

When you see that almost half of the companies in the Renewable Energy industry in Saudi Arabia have price-to-sales...
Narrative Update • Jan 20

2082: Long Dated Projects And Partnerships Will Support Balanced Future Outlook

Analysts have kept their fair value estimate for ACWA Power steady at 191.83, with only minor tweaks to key model inputs such as discount rate, long term revenue growth, profit margin and future P/E. This suggests their updated price targets mainly reflect refined assumptions rather than a change in the core valuation view.
Narrative Update • Jan 05

2082: New Long Term Projects And Margins Will Support Upside Potential

Narrative Update Analysts have trimmed their fair value estimate for ACWA Power from SAR198.20 to about SAR191.83, as slightly softer revenue growth assumptions and a lower future P/E multiple more than offset a modestly higher projected profit margin and a marginally reduced discount rate. What's in the News ACWA Power signed a public private partnership agreement for Azerbaijan’s first large scale Caspian Sea reverse osmosis desalination plant, with a contract value of about US$400m (SAR 1.5b) and a 27.5 year term including construction, with the contract signed on December 26, 2025 (company announcement).
Analysis Article • Dec 27

Capital Allocation Trends At ACWA Power (TADAWUL:2082) Aren't Ideal

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Narrative Update • Dec 14

2082: Expanding Renewable Projects Will Drive Stronger Long-Term Earnings Potential

Analysts have modestly raised their price target on ACWA Power to SAR 280.00, citing slightly higher expectations for revenue growth and profit margins, along with a marginally lower future price to earnings multiple that together support a stable fair value outlook. What's in the News ACWA Power received an Initial Commercial Operation Certificate for an additional 1,000 MW at the ArRass2 PV IPP in Qassim, Saudi Arabia, bringing total project capacity to 2,000 MW, with financial impact expected in the fourth quarter of 2025 (company announcement).
Narrative Update • Nov 30

2082: New Renewable Projects And Strong Margins Will Balance Risks This Year

Narrative Update on ACWA Power Analysts have raised their price target for ACWA Power by SAR 1.00 to SAR 198.20, citing increasing profit margins, which offset slightly moderated revenue growth projections. What's in the News ACWA Power's ArRass2 PV IPP project in the Qassim Region, Saudi Arabia, has received an Initial Commercial Operation Certificate for an additional 1,000 MW.
Narrative Update • Nov 16

2082: Multiple New Projects Are Expected To Drive Steady Performance Ahead

Analysts have slightly reduced their price target for ACWA Power from SAR 197.4 to SAR 197.2, citing changes in projections for revenue growth and profitability. What's in the News ACWA Power received the Initial Commercial Operation Certificate for an additional 1,000 MW capacity at the ArRass2 PV IPP project in Qassim Region.
Narrative Update • Nov 01

2082: Lower Revenue Outlook Will Outweigh Benefits From Recent Partnerships

Analysts have updated their price target for ACWA Power, maintaining the fair value estimate at SAR197.40. Recent adjustments to projected revenue growth and profit margins have offset each other in their latest financial models.
Narrative Update • Oct 18

Global Renewables Will Advance Despite Construction And Debt Risks

Narrative Update: ACWA Power Analyst Price Target Analysts have maintained their fair value estimate for ACWA Power at SAR 197.40. There have only been minor adjustments to underlying discount rates and projected valuation metrics, reflecting continued confidence in the company's outlook despite modest refinements.
Narrative Update • Oct 04

Global Renewables Will Advance Despite Construction And Debt Risks

Analysts have raised their price target for ACWA Power from SAR 187.5 to SAR 197.4. They cite improved profit margin projections and a slight increase in future valuation multiples as the primary drivers behind the update. What's in the News ACWA Power received the second Commercial Operation Certificate for the SAAD 2 PV project in Riyadh, Saudi Arabia, reaching its full operating capacity of 1,125 MW.
Narrative Update • Sep 19

Global Renewables Will Advance Despite Construction And Debt Risks

The downward revision in ACWA Power’s price target reflects marginal declines in both forward P/E and revenue growth forecasts, with the consensus fair value now at SAR187.50. What's in the News SAAD 2 PV project in Riyadh reached full operating capacity of 1,125 MW, with ACWA Power holding a 50.1% stake; financial impact expected in H2 2025.
Narrative Update • Sep 04

Global Renewables Will Advance Despite Construction And Debt Risks

Due to a modest decline in ACWA Power’s Future P/E, indicating slightly improved earnings expectations, but with the discount rate unchanged, the consensus Analyst Price Target has remained steady at SAR196.43. What's in the News SAAD 2 PV project in Riyadh reached full operating capacity of 1,125 MW, with ACWA Power holding a 50.1% stake; financial impact expected in H2 2025.
Analysis Article • Jul 22

Analysts' Revenue Estimates For ACWA Power Company (TADAWUL:2082) Are Surging Higher

Celebrations may be in order for ACWA Power Company ( TADAWUL:2082 ) shareholders, with the analysts delivering a...
User avatar
New Narrative • Jul 06

Vision 2030 Initiatives Will Advance Despite Geopolitical And Execution Risks

Overly optimistic growth expectations may falter if project execution, financing costs, or shifting government priorities create headwinds to portfolio expansion and revenue visibility.
Analysis Article • Jun 01

What You Can Learn From ACWA Power Company's (TADAWUL:2082) P/S

When close to half the companies in the Renewable Energy industry in Saudi Arabia have price-to-sales ratios (or "P/S...

Earnings and Revenue Growth Forecasts

SASE:2082 - Analysts future estimates and past financials data (SAR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202813,0264,1901,7086,4705
12/31/202710,7803,394-9925,2036
12/31/20268,4252,296-14,0644,0295
3/31/20267,4691,770-3014,107N/A
12/31/20257,4141,8521144,481N/A
9/30/20257,1101,782-1,4453,456N/A
6/30/20257,1981,739-9463,492N/A
3/31/20257,0131,887-7243,730N/A
12/31/20246,2971,757-8063,568N/A
9/30/20246,3711,8332503,073N/A
6/30/20246,1661,9022993,719N/A
3/31/20246,0151,693-2273,448N/A
12/31/20236,0951,669-3373,345N/A
9/30/20235,8541,514-8432,935N/A
6/30/20235,5741,458-4962,635N/A
3/31/20235,4561,4248273,019N/A
12/31/20225,2761,3231,3482,911N/A
9/30/20225,1801,2891,6503,028N/A
6/30/20225,1869461,4422,978N/A
3/31/20225,1448601,3532,855N/A
12/31/20215,2358231,1493,201N/A
9/30/20214,9544546082,536N/A
6/30/20215,0539943032,232N/A
3/31/20215,009898261,885N/A
12/31/20204,8298634181,875N/A
9/30/20204,9611,334-4521,809N/A
12/31/20194,115620N/A1,289N/A
12/31/20183,554737N/A1,571N/A
12/31/20173,783835N/A2,430N/A
12/31/20163,195875N/A497N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2082's forecast earnings growth (25.1% per year) is above the savings rate (15.1%).

Earnings vs Market: 2082's earnings (25.1% per year) are forecast to grow faster than the SA market (6.4% per year).

High Growth Earnings: 2082's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 2082's revenue (17.6% per year) is forecast to grow faster than the SA market (0.3% per year).

High Growth Revenue: 2082's revenue (17.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 2082's Return on Equity is forecast to be low in 3 years time (11.9%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/21 23:53
End of Day Share Price 2026/05/21 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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

ACWA Power Company is covered by 11 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullAl Rajhi Capital
Soha SaniourArqaam Capital Research Offshore S.A.L.
Nikhil NiganiaBernstein