Valuation Aramco

Equities

2222

SA14TG012N13

Integrated Oil & Gas

Delayed Saudi Arabian S.E. Other stock markets 14:11:23 08/03/2026 +04			5-day change	1st Jan Change
27.02 ^SAR	+4.40%		+4.81%	+13.47%

03-08	Saudi Aramco temporarily diverts some oil shipments to Yanbu port, state media says	RE
03-07	Saudi Aramco says it is closely following developments to take appropriate decisions to restore operations to its normal status -state media	RE

Company Valuation: Aramco

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	6,995,905	7,155,811	7,058,889	7,982,949	6,786,661	6,259,200	6,259,200	-
Change	-	2.29%	-1.35%	13.09%	-14.99%	-7.77%	0%	-
Enterprise Value (EV) ¹	7,317,949	7,340,080	6,944,771	7,889,780	6,876,123	6,389,788	6,424,385	6,412,887
Change	-	0.3%	-5.39%	13.61%	-12.85%	-7.07%	0.54%	-0.18%
P/E ratio	37.6x	18.1x	11.8x	17.6x	17.2x	16.9x	17.2x	15.8x
PBR	1.88x	6.43x	4.87x	5.2x	4.65x	4.14x	3.99x	3.85x
PEG	-	0x	0.2x	-0.7x	-1.3x	-2.71x	-9.46x	1.68x
Capitalization / Revenue	8.12x	4.76x	3.11x	4.3x	3.77x	3.84x	4.11x	3.77x
EV / Revenue	8.49x	4.89x	3.06x	4.25x	3.82x	3.92x	4.22x	3.86x
EV / EBITDA	15.9x	8.56x	5.62x	8.17x	7.83x	7.6x	7.94x	7.23x
EV / EBIT	19.1x	9.51x	6.07x	9.09x	8.88x	8.66x	9.09x	8.2x
EV / FCF	39.7x	18.2x	12.5x	20.8x	21.5x	21.4x	25.3x	20.1x
FCF Yield	2.52%	5.49%	8.02%	4.81%	4.65%	4.67%	3.96%	4.99%
Dividend per Share ²	0.9256	1.157	1.191	1.695	1.776	1.323	1.355	1.397
Rate of return	3.2%	3.91%	4.08%	5.14%	6.33%	5.11%	5.24%	5.4%
EPS ²	0.7686	1.636	2.473	1.87	1.63	1.528	1.501	1.642
Distribution rate	120%	70.7%	48.2%	90.6%	109%	86.6%	90.3%	85.1%
Net sales ¹	862,091	1,501,758	2,266,373	1,856,373	1,801,674	1,631,098	1,523,691	1,659,269
EBITDA ¹	459,568	857,439	1,235,695	965,330	877,834	840,798	809,160	886,699
EBIT ¹	383,360	771,918	1,144,077	868,290	774,630	737,707	706,591	781,741
Net income ¹	184,926	395,203	597,215	452,753	393,891	371,081	363,194	400,110
Net Debt ¹	322,044	184,269	-114,118	-93,169	89,462	130,588	165,185	153,688
Reference price ²	28.93	29.59	29.18	33.00	28.05	25.88	25.88	25.88
Nbr of stocks (in thousands)	241,858,445	241,858,445	241,893,399	241,907,556	241,948,700	241,854,700	241,854,700	-
Announcement Date	22/03/21	21/03/22	13/03/23	10/03/24	04/03/25	-	-	-

¹SAR in Million²SAR

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
ARAMCO	16.93x	3.92x	7.6x	5.11%	1,668B
CHEVRON CORPORATION	28.74x	2.28x	9.48x	3.75%	379B
PETROCHINA COMPANY LIMITED	10.89x	0.78x	4.78x	4.94%	317B
SHELL PLC	14x	1.05x	5.07x	3.43%	237B
TOTALENERGIES SE	11.94x	1.09x	5.08x	4.84%	169B
PETROBRAS	4.91x	1.88x	3.83x	8.04%	108B
EQUINOR ASA	14.96x	0.9x	2.44x	4.53%	82.12B
ENI S.P.A	15.49x	0.94x	4.62x	5.1%	70.02B
CENOVUS ENERGY INC.	23.83x	1.5x	6.74x	2.65%	42.35B
Average	15.74x	1.59x	5.51x	4.71%	341.36B
Weighted average by Cap.	16.85x	2.76x	6.86x	4.84%