SAUDI ARABIAN OIL COMPANY |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 30.1 SAR | 0.00% |
|
+0.67% | -8.79% |
| 12:51am | MOVES-Crude oil trader at Aramco Trading Americas leaves | RE |
| Apr. 26 | Yamama Cement Forecasts Higher Production Costs Amid Saudi Aramco's Fuel Product Price Adjustments | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 7,050,006 | 6,995,905 | 7,155,811 | 7,058,889 | 7,982,949 | 7,282,656 | - | - |
| Enterprise Value (EV) 1 | 7,002,376 | 7,317,949 | 7,340,080 | 6,944,771 | 7,889,780 | 7,178,411 | 7,145,491 | 7,721,109 |
| P/E ratio | 21.4 x | 37.6 x | 18.1 x | 11.8 x | 17.6 x | 16.2 x | 15.7 x | 16 x |
| Yield | 4.4% | 3.2% | 3.91% | - | 5.14% | 5.82% | 4.63% | 4.92% |
| Capitalization / Revenue | 5.7 x | 8.12 x | 4.76 x | 3.11 x | 4.3 x | 4.11 x | 4.19 x | 4.25 x |
| EV / Revenue | 5.66 x | 8.49 x | 4.89 x | 3.06 x | 4.25 x | 4.05 x | 4.11 x | 4.51 x |
| EV / EBITDA | 9.66 x | 15.9 x | 8.56 x | 5.62 x | 8.17 x | 7.54 x | 7.41 x | 7.96 x |
| EV / FCF | 23.8 x | 39.7 x | 18.2 x | 12.5 x | 20.8 x | 19.7 x | 19.4 x | 22.2 x |
| FCF Yield | 4.2% | 2.52% | 5.49% | 8.02% | 4.81% | 5.08% | 5.15% | 4.51% |
| Price to Book | 6.8 x | 1.88 x | 6.43 x | 4.87 x | 5.2 x | 4.71 x | 4.43 x | 4.16 x |
| Nbr of stocks (in thousands) | 242,000,242 | 241,858,445 | 241,858,445 | 241,893,399 | 241,907,556 | 241,948,700 | - | - |
| Reference price 2 | 29.13 | 28.93 | 29.59 | 29.18 | 33.00 | 30.10 | 30.10 | 30.10 |
| Announcement Date | 3/16/20 | 3/22/21 | 3/21/22 | 3/13/23 | 3/10/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,236,785 | 862,091 | 1,501,758 | 2,266,373 | 1,856,373 | 1,773,469 | 1,739,493 | 1,712,623 |
| EBITDA 1 | 725,137 | 459,568 | 857,439 | 1,235,695 | 965,330 | 951,420 | 963,898 | 969,676 |
| EBIT 1 | 674,871 | 383,360 | 771,918 | 1,144,077 | 868,290 | 857,456 | 866,633 | 868,136 |
| Operating Margin | 54.57% | 44.47% | 51.4% | 50.48% | 46.77% | 48.35% | 49.82% | 50.69% |
| Earnings before Tax (EBT) 1 | 666,741 | 372,424 | 769,521 | 1,152,962 | 888,067 | 872,574 | 892,204 | 859,655 |
| Net income 1 | 330,816 | 184,926 | 395,203 | 597,215 | 452,753 | 448,068 | 463,674 | 453,940 |
| Net margin | 26.75% | 21.45% | 26.32% | 26.35% | 24.39% | 25.27% | 26.66% | 26.51% |
| EPS 2 | 1.364 | 0.7686 | 1.636 | 2.473 | 1.870 | 1.858 | 1.913 | 1.883 |
| Free Cash Flow 1 | 293,910 | 184,267 | 402,956 | 556,991 | 379,506 | 364,536 | 367,736 | 348,148 |
| FCF margin | 23.76% | 21.37% | 26.83% | 24.58% | 20.44% | 20.55% | 21.14% | 20.33% |
| FCF Conversion (EBITDA) | 40.53% | 40.1% | 47% | 45.08% | 39.31% | 38.31% | 38.15% | 35.9% |
| FCF Conversion (Net income) | 88.84% | 99.64% | 101.96% | 93.26% | 83.82% | 81.36% | 79.31% | 76.69% |
| Dividend per Share 2 | 1.281 | 0.9256 | 1.157 | - | 1.695 | 1.751 | 1.395 | 1.481 |
| Announcement Date | 3/16/20 | 3/22/21 | 3/21/22 | 3/13/23 | 3/10/24 | - | - | - |
1SAR in Million2SAR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 622,229 | 405,382 | 446,269 | 516,897 | 648,373 | 613,935 | 487,168 | 459,833 | 448,318 | 488,935 | 459,287 | 425,306 | 430,685 | 436,581 | 431,693 | 434,577 |
| EBITDA 1 | - | 234,935 | 250,338 | 298,653 | 345,942 | 322,728 | 268,372 | 244,159 | 235,245 | 258,801 | 227,125 | 229,891 | 237,689 | 243,269 | 237,369 | 246,715 |
| EBIT 1 | - | 212,806 | 228,110 | 277,705 | 324,489 | 300,234 | 241,649 | 222,184 | 212,553 | 234,446 | 199,107 | 206,265 | 213,921 | 220,924 | 216,191 | 220,954 |
| Operating Margin | - | 52.5% | 51.11% | 53.73% | 50.05% | 48.9% | 49.6% | 48.32% | 47.41% | 47.95% | 43.35% | 48.5% | 49.67% | 50.6% | 50.08% | 50.84% |
| Earnings before Tax (EBT) 1 | - | 212,158 | 227,307 | 277,817 | 329,794 | - | 243,072 | 229,234 | 217,431 | 238,373 | 203,029 | 228,570 | 225,872 | 223,961 | 220,903 | 230,061 |
| Net income 1 | - | 109,072 | 116,639 | 142,012 | 173,795 | 156,068 | 125,340 | 117,471 | 108,881 | 123,534 | 102,867 | 108,177 | 111,639 | 113,909 | 110,369 | 112,733 |
| Net margin | - | 26.91% | 26.14% | 27.47% | 26.8% | 25.42% | 25.73% | 25.55% | 24.29% | 25.27% | 22.4% | 25.44% | 25.92% | 26.09% | 25.57% | 25.94% |
| EPS 2 | - | 0.4546 | 0.4876 | 0.5909 | 0.7182 | - | 0.5182 | 0.4900 | 0.4500 | 0.5100 | 0.4200 | 0.4408 | 0.4657 | 0.4798 | 0.4555 | 0.4640 |
| Dividend per Share 2 | - | 0.2893 | 0.2878 | 0.2909 | 0.2909 | - | - | 0.3000 | 0.4500 | 0.4500 | 0.4815 | 0.4820 | 0.4820 | 0.4820 | 0.3610 | 0.3610 |
| Announcement Date | 3/16/20 | 11/1/21 | 3/21/22 | 5/16/22 | 8/15/22 | 11/1/22 | 3/13/23 | 5/9/23 | 8/7/23 | 11/7/23 | 3/10/24 | - | - | - | - | - |
1SAR in Million2SAR
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 322,044 | 184,269 | - | - | - | - | 438,453 |
| Net Cash position 1 | 47,631 | - | - | 114,118 | 93,169 | 104,245 | 137,164 | - |
| Leverage (Debt/EBITDA) | - | 0.7008 x | 0.2149 x | - | - | - | - | 0.4522 x |
| Free Cash Flow 1 | 293,910 | 184,267 | 402,956 | 556,991 | 379,506 | 364,536 | 367,736 | 348,148 |
| ROE (net income / shareholders' equity) | 32.2% | 18.3% | 37.6% | 46.6% | 30.4% | 28.2% | 27.4% | 26% |
| ROA (Net income/ Total Assets) | 23.3% | 10.9% | 19.4% | 25.7% | 18.2% | 17.5% | 17.7% | 16.8% |
| Assets 1 | 1,420,506 | 1,704,194 | 2,038,179 | 2,327,806 | 2,485,428 | 2,554,406 | 2,619,744 | 2,704,844 |
| Book Value Per Share 2 | 4.280 | 15.40 | 4.600 | 5.990 | 6.340 | 6.390 | 6.790 | 7.230 |
| Cash Flow per Share 2 | 1.720 | 1.180 | 2.160 | 2.890 | 2.220 | 2.260 | 2.330 | 2.190 |
| Capex 1 | 122,995 | 101,030 | 119,645 | 141,161 | 158,308 | 192,031 | 202,646 | 191,833 |
| Capex / Sales | 9.94% | 11.72% | 7.97% | 6.23% | 8.53% | 10.83% | 11.65% | 11.2% |
| Announcement Date | 3/16/20 | 3/22/21 | 3/21/22 | 3/13/23 | 3/10/24 | - | - | - |
1SAR in Million2SAR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
HOLD
Number of Analysts
15
Last Close Price
30.1
SAR
Average target price
33.76
SAR
Spread / Average Target
+12.14%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -8.79% | 1,942B | |
| +17.98% | 465B | |
| +46.12% | 259B | |
| +12.91% | 232B | |
| +11.84% | 108B | |
| -5.74% | 80.36B | |
| -0.57% | 52.04B | |
| -.--% | 50.84B | |
| +26.90% | 50.66B | |
| +32.79% | 39.95B |
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