ACWA Power Valuation

Q: What is the Fair Price of 2082 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

2082 (SAR390) is trading above our estimate of [[fair value]] (SAR20.56)

Is 2082 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2082 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2082 (SAR390) is trading above our estimate of fair value (SAR20.56)

Significantly Below Fair Value: 2082 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2082?

Key metric: As 2082 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2082. This is calculated by dividing 2082's market cap by their current revenue.
What is 2082's PS Ratio?
PS Ratio	44.8x
Sales	ر.س6.37b
Market Cap	ر.س285.70b

2082 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	48.4x
Enterprise Value/EBITDA	144.9x
PEG Ratio	9.4x

Price to Sales Ratio vs Peers

How does 2082's PS Ratio compare to its peers?

The above table shows the PS ratio for 2082 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.1x
5110 Saudi Electricity	0.8x	4.8%	ر.س69.9b
VST Vistra	3.4x	7.6%	US$56.7b
NTPC NTPC	1.9x	5.4%	₹3.5t
601985 China National Nuclear Power	2.5x	8.4%	CN¥186.4b
2082 ACWA Power	44.8x	19.1%	ر.س285.7b

Price-To-Sales vs Peers: 2082 is expensive based on its Price-To-Sales Ratio (44.8x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does 2082's PS Ratio compare vs other companies in the Asian Renewable Energy Industry?

41 Companies	Price / Sales	Estimated Growth	Market Cap

41 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 2082 is expensive based on its Price-To-Sales Ratio (44.8x) compared to the Asian Renewable Energy industry average (2.3x).

Price to Sales Ratio vs Fair Ratio

What is 2082's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2082 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	44.8x
Fair PS Ratio	10.8x

Price-To-Sales vs Fair Ratio: 2082 is expensive based on its Price-To-Sales Ratio (44.8x) compared to the estimated Fair Price-To-Sales Ratio (10.8x).

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 2082 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.س390.00	ر.س226.40 -41.9%	36.4%	ر.س350.00	ر.س100.00	n/a	5
Nov ’25	ر.س460.20	ر.س236.75 -48.6%	37.7%	ر.س350.00	ر.س100.00	n/a	4
Oct ’25	ر.س485.20	ر.س243.39 -49.8%	33.3%	ر.س350.00	ر.س100.00	n/a	5
Sep ’25	ر.س416.80	ر.س243.39 -41.6%	33.3%	ر.س350.00	ر.س100.00	n/a	5
Aug ’25	ر.س398.00	ر.س243.39 -38.8%	33.3%	ر.س350.00	ر.س100.00	n/a	5
Jul ’25	ر.س347.60	ر.س220.29 -36.6%	41.0%	ر.س350.00	ر.س100.00	n/a	6
Jun ’25	ر.س402.40	ر.س220.29 -45.3%	41.0%	ر.س350.00	ر.س100.00	n/a	6
May ’25	ر.س400.00	ر.س203.26 -49.2%	39.0%	ر.س274.45	ر.س79.84	n/a	6
Apr ’25	ر.س349.30	ر.س199.27 -43.0%	38.5%	ر.س274.45	ر.س79.84	n/a	6
Mar ’25	ر.س263.47	ر.س164.17 -37.7%	38.6%	ر.س249.50	ر.س79.84	n/a	5
Feb ’25	ر.س242.91	ر.س164.17 -32.4%	38.6%	ر.س249.50	ر.س79.84	n/a	5
Jan ’25	ر.س255.89	ر.س152.20 -40.5%	33.1%	ر.س207.58	ر.س79.84	n/a	5
Dec ’24	ر.س228.54	ر.س142.61 -37.6%	38.1%	ر.س191.62	ر.س72.85	n/a	5
Nov ’24	ر.س225.55	ر.س130.86 -42.0%	44.1%	ر.س189.62	ر.س72.85	ر.س460.20	4
Oct ’24	ر.س192.81	ر.س125.12 -35.1%	42.2%	ر.س189.62	ر.س72.85	ر.س485.20	4
Sep ’24	ر.س192.61	ر.س116.39 -39.6%	37.3%	ر.س164.67	ر.س72.85	ر.س416.80	4
Aug ’24	ر.س183.03	ر.س110.15 -39.8%	34.0%	ر.س154.69	ر.س72.85	ر.س398.00	4
Jul ’24	n/a	ر.س110.15 0%	34.0%	ر.س154.69	ر.س72.85	ر.س347.60	4
Jun ’24	ر.س148.90	ر.س122.59 -17.7%	28.8%	ر.س154.69	ر.س73.35	ر.س402.40	3
May ’24	ر.س157.29	ر.س116.93 -25.7%	26.4%	ر.س141.72	ر.س73.35	ر.س400.00	3
Apr ’24	ر.س140.32	ر.س116.93 -16.7%	26.4%	ر.س141.72	ر.س73.35	ر.س349.30	3
Mar ’24	ر.س136.93	ر.س114.94 -16.1%	25.9%	ر.س141.72	ر.س73.35	ر.س263.47	3
Feb ’24	ر.س148.10	ر.س98.92 -33.2%	30.8%	ر.س141.72	ر.س73.35	ر.س242.91	3
Jan ’24	ر.س154.69	ر.س98.92 -36.1%	30.8%	ر.س141.72	ر.س73.35	ر.س255.89	3
Dec ’23	ر.س137.72	ر.س98.92 -28.2%	30.8%	ر.س141.72	ر.س73.35	ر.س228.54	3
Nov ’23	ر.س173.45	ر.س92.40 -46.7%	31.0%	ر.س141.72	ر.س72.85	ر.س225.55	4

Analyst Forecast: Target price is lower than the current share price.