Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 8.0% - 7.0% | 7.5% |
| Terminal Revenue Multiple | 1.5x - 1.6x | 1.5x |
| Fair Value | ﷼194.39 - ﷼218.68 | ﷼206.15 |
| Upside | 71.1% - 92.5% | 81.5% |
| Select Revenue and EBITDA Forecast | |||||||||||
| (SAR in millions) | Input Projections | ||||||||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 |
| Revenue | 9,446 | 10,104 | 10,756 | 11,145 | 12,990 | 14,614 | 15,710 | 16,260 | 16,585 | 16,917 | 17,255 |
| % Growth | 8.4% | 7.0% | 6.5% | 3.6% | 16.6% | 12.5% | 7.5% | 3.5% | 2.0% | 2.0% | 2.0% |
| EBITDA | 1,130 | 1,695 | 1,834 | 1,924 | 2,214 | 2,856 | 3,149 | 3,259 | 3,324 | 3,391 | 3,459 |
| % of Revenue | 12.0% | 16.8% | 17.0% | 17.3% | 17.0% | 19.5% | 20.0% | 20.0% | 20.0% | 20.0% | 20.0% |
| Calculation of Free Cash Flow | |||||||||||
| Projected Unlevered Cash Flow | |||||||||||
| Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 | ||
| EBITDA | 1,695 | 1,834 | 1,924 | 2,214 | 2,856 | 3,149 | 3,259 | 3,324 | 3,391 | 3,459 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| D&A | (738) | (773) | (825) | (921) | (1,036) | (1,114) | (1,153) | (1,176) | (1,199) | (1,223) | |
| EBIT | 957 | 1,061 | 1,098 | 1,293 | 1,820 | 2,035 | 2,106 | 2,148 | 2,191 | 2,235 | |
| Pro forma Taxes | (105) | (117) | (121) | (142) | (200) | (224) | (232) | (236) | (241) | (246) | |
| NOPAT | 776 | 851 | 944 | 978 | 1,151 | 1,620 | 1,811 | 1,875 | 1,912 | 1,950 | 1,989 |
| Capital Expenditures | (340) | (412) | (382) | (454) | (349) | (395) | (399) | (381) | (389) | (390) | (387) |
| NWC Investment | (47) | (42) | (42) | (25) | (118) | (104) | (70) | (35) | (21) | (21) | (22) |
| (+) D&A | 258 | 738 | 773 | 825 | 921 | 1,036 | 1,114 | 1,153 | 1,176 | 1,199 | 1,223 |
| Free Cash Flow | 648 | 1,136 | 1,293 | 1,324 | 1,605 | 2,157 | 2,455 | 2,611 | 2,678 | 2,739 | 2,804 |
| % Growth | 14% | 2% | 21% | 34% | 14% | 6% | 3% | 2% | 2% | ||