Multiples Airlines Index
Tracks all publicly traded airlines across all verticals (network carriers, low-cost carriers, regional airlines, cargo airlines, charter services, etc.)
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companies tracked
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cumulative enterprise value
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median EV/NTM revenue multiple
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median NTM/LTM revenue growth
This chart shows the weighted market cap evolution over time, indexed to 0% at the beginning of the period
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Data as of November 14, 2025. Index data powered by FactSet and Morningstar, S&P 500 data sourced from Yahoo Finance.
This chart shows the weighted median evolution over time of key valuation metrics
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This chart shows the regression relationship between valuation metrics across companies in the index
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Data as of November 14, 2025. Companies with EV multiples above 50x and y-axis values above 300% are considered non-meaningful and excluded from calculation.
This chart shows company rankings by selected metric within the index
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Data as of November 14, 2025. Companies with EV multiples above 50x are considered non-meaningful and excluded from calculation.
Compare key metrics between companies in the index
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Data as of November 14, 2025.
This chart shows the cumulative sum of selected metrics across all companies in the index over time
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Similar to NASDAQ 100 Index, ๐ธ๐ฆ Multiples Saudi Arabia Top 100 Index employs a modified market capitalization weighting scheme.
The weight process uses company-level weightss, which are derived using company enterprise value.
Company weights are evaluated based on two rules:
No companyโs weight may exceed 24%.
The aggregate weight of the companies whose weights exceed 4.5% may not exceed 48%.
If neither rule is 'violated', then no adjustments are made. Only in cases where either or both of the rules are 'violated', weight adjustments are made according to a two-stage adjustment process.
If no companyโs initial weight exceeds 24% of the Index, initial weights are used as Rule 1 weights without adjustment. Otherwise, initial weights are adjusted such that no companyโs weight may exceed 20% of the Index.
If the aggregate weight of the companies whose Rule 1 weights exceeds 4.5% and does not exceed 48%, Rule 1 weights are used as the final weights. Otherwise, Rule 1 weights are adjusted such that:
If the two-stage rule process results in a 'violation' of the weighting rules as previously detailed, then the process is repeated until the company weights meet the rule system.
| Company | HQ | Stock Price | 1Y Perf. | Market Cap | EV/Revenue (LTM) | EV/Revenue (NTM) | Revenue Growth NTM/LTM | Gross Margin (NTM) | EBITDA Margin (NTM) | FCF Margin (NTM) | Rule of 40 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Saudi Aramco | Saudi Arabia | SAR 26 | -4.1% | $1669437.1361721402M | 3.9x | 4.2x | -7% | 41% | 55% | 18% | 44% |
| Al Rajhi Bank | Saudi Arabia | SAR 101 | +20.1% | $107837.14542999139M | 11.4x | 10.0x | 14% | NaN% | NaN% | NaN% | n/a |
| Saudi National Bank | Saudi Arabia | SAR 38 | +20.5% | $60684.76635874759M | 9.0x | 8.3x | 9% | NaN% | NaN% | NaN% | n/a |
| Maaden | Saudi Arabia | SAR 60 | +13.8% | $61636.22937696762M | 7.0x | 6.6x | 5% | 47% | 41% | 20% | 46% |
| Saudi Electricity | Saudi Arabia | SAR 14 | -2.3% | $16048.502488067079M | 2.6x | 2.5x | 2% | 18% | 43% | -12% | 40% |
| stc Group | Saudi Arabia | SAR 44 | +7.2% | $58363.59131014572M | 2.8x | 2.6x | 5% | 46% | 32% | 15% | 36% |
| ACWA POWER | Saudi Arabia | SAR 217 | -47.1% | $44353.881758151874M | 24.6x | 20.6x | 19% | 65% | 60% | 64% | 79% |
| Alinma Bank | Saudi Arabia | SAR 25 | -7.8% | $16576.474319883186M | 15.1x | 14.0x | 8% | NaN% | NaN% | NaN% | n/a |
| Saudi Basic Industries | Saudi Arabia | SAR 57 | -16.0% | $45563.86318044439M | 1.2x | 1.2x | 1% | 19% | 15% | 6% | 15% |
| Riyad Bank | Saudi Arabia | SAR 26 | +5.8% | $20781.138810873534M | 6.4x | 6.0x | 7% | NaN% | NaN% | NaN% | n/a |
| Dr. Sulaiman Al Habib | Saudi Arabia | SAR 262 | -4.9% | $24439.52731576736M | 7.4x | 6.4x | 16% | 33% | 25% | 10% | 40% |
| Banque Saudi Fransi | Saudi Arabia | SAR 17 | +18.4% | $11262.449542426766M | 7.5x | 7.1x | 6% | NaN% | NaN% | NaN% | n/a |
| Saudi Awwal Bank | Saudi Arabia | SAR 31 | -4.3% | $17222.058705000913M | 4.9x | 4.6x | 7% | NaN% | NaN% | NaN% | n/a |
| ELM | Saudi Arabia | SAR 827 | -7.4% | $17154.172012463037M | 6.7x | 5.6x | 21% | 43% | 26% | 21% | 47% |
| Almarai | Saudi Arabia | SAR 47 | -10.0% | $12475.334642950316M | 2.7x | 2.5x | 7% | 32% | 25% | 9% | 31% |
| Mobily | Saudi Arabia | SAR 66 | +30.8% | $13449.313981596739M | 3.0x | 2.8x | 7% | 54% | 38% | 16% | 45% |
| Rabigh Refining | Saudi Arabia | SAR 9 | +10.2% | $5249.431290137377M | 1.3x | 1.3x | 6% | NaN% | 5% | 7% | 7% |
| Arab National | Saudi Arabia | SAR 22 | +28.3% | $11873.790598356243M | 4.7x | 4.4x | 6% | NaN% | NaN% | NaN% | n/a |
| SABIC Agri-Nutrient | Saudi Arabia | SAR 120 | +7.7% | $15196.985572369309M | 3.5x | 3.8x | -8% | 38% | 39% | 33% | 32% |
| Bank Albilad | Saudi Arabia | SAR 28 | -3.3% | $11242.823181958509M | 7.4x | 6.8x | 9% | NaN% | NaN% | NaN% | n/a |
| Kingdom Holding | Saudi Arabia | SAR 8 | -25.0% | $7804.937616342561M | 15.1x | 14.3x | 5% | NaN% | 48% | 22% | 53% |
| National Shipping Company | Saudi Arabia | SAR 32 | +35.3% | $7907.221453075843M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Ades Holding | Saudi Arabia | SAR 17 | -14.5% | $5142.64975958784M | 4.9x | 3.8x | 31% | 33% | 51% | 21% | 85% |
| Jabal Omar Devlopment | Saudi Arabia | SAR 16 | -21.1% | $5134.109117193752M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| solutions by stc | Saudi Arabia | SAR 234 | -1.3% | $7438.4844285795325M | 2.1x | 1.9x | 9% | 22% | 16% | 12% | 24% |
| Arabian Centres | Saudi Arabia | SAR 20 | +6.2% | $2560.821384744484M | 8.7x | 9.0x | -4% | 82% | 72% | 52% | 63% |
| Dar Alarkan Real Estate | Saudi Arabia | SAR 17 | +3.3% | $4958.373300761188M | 5.6x | 5.5x | 2% | NaN% | 40% | NaN% | 41% |
| Bupa Arabia | Saudi Arabia | SAR 157 | -18.6% | $6282.047568551603M | 1.3x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Marafiq | Saudi Arabia | SAR 40 | -28.3% | $2693.2593994767653M | 3.4x | 3.3x | 0% | NaN% | 49% | NaN% | 41% |
| Riyadh Cables | Saudi Arabia | SAR 135 | +38.6% | $5391.02733921138M | 2.0x | 1.9x | 4% | 14% | 12% | 9% | 17% |
| Tadawul Group | Saudi Arabia | SAR 190 | -16.7% | $6095.467953067533M | 15.1x | 13.2x | 14% | 61% | 41% | 43% | 52% |
| Zain Saudi Arabia | Saudi Arabia | SAR 11 | +8.8% | $2648.4082469381906M | 1.8x | 1.7x | 4% | 60% | 31% | 6% | 35% |
| Advanced Petrochemical | Saudi Arabia | SAR 36 | +4.0% | $2527.5532116477093M | 5.4x | 3.7x | 48% | 30% | 28% | 17% | 73% |
| ALDREES Petroleum | Saudi Arabia | SAR 142 | +10.8% | $3776.9693263227186M | 0.7x | 0.6x | 20% | -1% | 5% | 4% | 25% |
| Dallah Healthcare | Saudi Arabia | SAR 147 | -3.5% | $3987.391181862527M | 4.5x | 4.0x | 13% | 37% | 21% | 6% | 35% |
| Company for Cooperative Insurance | Saudi Arabia | SAR 132 | -3.1% | $5275.992113971733M | 0.9x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Jarir | Saudi Arabia | SAR 14 | +7.3% | $4429.86451870331M | 1.6x | 1.5x | 4% | 14% | 11% | 8% | 15% |
| Bank AlJazira | Saudi Arabia | SAR 12 | -4.0% | $4072.3136468416533M | 4.0x | 3.5x | 13% | NaN% | NaN% | NaN% | n/a |
| Saudi Kayan Petrochemical | Saudi Arabia | SAR 6 | -24.2% | $2270.1854502031606M | 2.0x | 2.0x | 3% | -1% | 18% | 10% | 15% |
| Makkah Construction | Saudi Arabia | SAR 87 | -5.4% | $4620.4479885969085M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Saudi Investment Bank | Saudi Arabia | SAR 13 | +4.3% | $4340.962209895701M | 3.8x | 3.6x | 7% | NaN% | NaN% | NaN% | n/a |
| Luberef | Saudi Arabia | SAR 90 | -17.7% | $4042.0123432085215M | 1.8x | 1.8x | 3% | NaN% | 18% | NaN% | 16% |
| Nahdi Medical | Saudi Arabia | SAR 109 | -6.0% | $3771.8977774039813M | 1.5x | 1.4x | 9% | 39% | 17% | 8% | 25% |
| Yansab | Saudi Arabia | SAR 32 | -13.3% | $4753.57614771376M | 2.6x | 2.5x | 2% | 35% | 24% | 19% | 24% |
| Mouwasat | Saudi Arabia | SAR 73 | -18.3% | $3875.731068424443M | 4.7x | 4.1x | 14% | 43% | 33% | 22% | 48% |
| Sahara Intl | Saudi Arabia | SAR 18 | -28.1% | $3495.9875624076567M | 2.0x | 2.0x | 1% | 22% | 20% | 4% | 17% |
| Emaar the Economic City | Saudi Arabia | SAR 12 | -31.5% | $1674.648490611455M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| SAL Logistics | Saudi Arabia | SAR 171 | -36.3% | $3642.973665417135M | 8.7x | 8.5x | 2% | 56% | 49% | NaN% | 51% |
| SRMG | Saudi Arabia | SAR 166 | -42.6% | $3538.339603514767M | 3.7x | 3.5x | 6% | 32% | 24% | 15% | 29% |
| Electrical Industries | Saudi Arabia | SAR 12 | +44.7% | $3527.79612023634M | NaNx | 5.0x | NaN% | 37% | 31% | 18% | NaN% |
| Savola Gr | Saudi Arabia | SAR 27 | -74.7% | $2159.050204975782M | 0.5x | 0.5x | 5% | 18% | 9% | 2% | 14% |
| Taiba Investments | Saudi Arabia | SAR 36 | -10.4% | $2534.7814580980294M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Arabian Drilling | Saudi Arabia | SAR 92 | -19.5% | $2185.5706603484396M | 3.2x | 3.0x | 5% | 31% | 38% | 14% | 42% |
| National Industralization | Saudi Arabia | SAR 11 | +8.2% | $1992.606295760978M | 3.1x | 2.9x | 8% | NaN% | 23% | NaN% | 15% |
| Astra Industrial Gr | Saudi Arabia | SAR 141 | -16.3% | $3015.169294002928M | 3.6x | 3.4x | 6% | 46% | 27% | NaN% | 34% |
| Jamjoom Pharma | Saudi Arabia | SAR 151 | -7.7% | $2828.85660214616M | 7.0x | 6.1x | 15% | 62% | 33% | 26% | 48% |
| Saudi Industrial Inv | Saudi Arabia | SAR 16 | -17.8% | $2863.0620642140248M | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| MBC Group | Saudi Arabia | SAR 33 | -17.1% | $2916.394205719838M | 2.1x | 1.9x | 8% | 33% | 10% | 11% | 17% |
| Al-Rajhi Co | Saudi Arabia | SAR 106 | -34.2% | $2826.7212131277447M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Arabian Contracting Services | Saudi Arabia | SAR 107 | -25.8% | $1572.3136266221888M | 4.6x | 3.8x | 20% | 28% | 57% | 0% | 76% |
| Seera Group | Saudi Arabia | SAR 30 | +34.7% | $2244.070311418547M | 2.1x | 1.9x | 10% | 42% | 22% | 2% | 30% |
| Dr. Soliman Abdul Kader | Saudi Arabia | SAR 38 | -26.8% | $2326.773259191176M | 3.1x | 2.6x | 17% | 27% | 18% | -11% | 34% |
| Othaim Markets | Saudi Arabia | SAR 7 | -35.4% | $1691.2281025852117M | 0.8x | 0.8x | 3% | 23% | 8% | 4% | 11% |
| Saudi Automotive Services | Saudi Arabia | SAR 67 | -11.5% | $1247.200648568403M | 0.8x | 0.7x | 14% | 2% | 6% | 3% | 19% |
| Bin Dawood | Saudi Arabia | SAR 5 | -19.7% | $1668.8625718535804M | 1.4x | 1.3x | 7% | 36% | 14% | 8% | 21% |
| Catrion | Saudi Arabia | SAR 93 | -18.7% | $2033.3708080608626M | 3.3x | 2.9x | 16% | 30% | 20% | NaN% | 36% |
| Rasan | Saudi Arabia | SAR 111 | +49.9% | $2294.349058565386M | 13.5x | 9.9x | 37% | 69% | 38% | NaN% | 75% |
| Leejam Sports | Saudi Arabia | SAR 119 | -32.7% | $1665.788490379643M | 4.8x | 4.3x | 12% | 39% | 44% | 14% | 57% |
| Saudi Chemical | Saudi Arabia | SAR 8 | -36.6% | $1708.281319286279M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| National Company for Learning & Education | Saudi Arabia | SAR 164 | -21.1% | $1877.7543333438205M | 11.1x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Aldawaa Medical Services | Saudi Arabia | SAR 62 | -25.6% | $1412.35964296149M | 1.1x | 1.0x | 6% | 35% | 13% | 6% | 19% |
| Saudi Ground Services | Saudi Arabia | SAR 43 | -16.6% | $2135.7306806586175M | 2.6x | 2.4x | 11% | 23% | 22% | NaN% | 32% |
| United Electronics | Saudi Arabia | SAR 93 | -12.2% | $1876.2317187612127M | 1.0x | 0.9x | 7% | 25% | 11% | 4% | 18% |
| SADAFCO | Saudi Arabia | SAR 252 | -20.1% | $2148.5860738209735M | 2.3x | 2.2x | 5% | 33% | 19% | 10% | 23% |
| United International | Saudi Arabia | SAR 69 | -14.0% | $1435.479702191986M | 3.1x | 2.8x | 11% | 32% | 57% | 23% | 68% |
| National Medical Care | Saudi Arabia | SAR 156 | -7.3% | $1860.8954370434287M | 4.5x | 4.0x | 12% | 37% | 30% | 13% | 41% |
| Retal Urban Dev | Saudi Arabia | SAR 12 | -18.8% | $1628.4384870079425M | 3.3x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Saudi Real Est | Saudi Arabia | SAR 13 | -44.1% | $1340.2902635899611M | 3.0x | 2.4x | 27% | NaN% | 22% | NaN% | 57% |
| Yamama Cement Co | Saudi Arabia | SAR 25 | -14.5% | $1349.138781835021M | 4.9x | 4.8x | 2% | NaN% | NaN% | NaN% | n/a |
| Almasane Alkobra Mining | Saudi Arabia | SAR 76 | +1.7% | $1818.1079284561056M | 6.8x | 6.6x | 4% | 41% | 56% | NaN% | 62% |
| National Gas | Saudi Arabia | SAR 88 | -18.2% | $1760.6949765905463M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Middle East Healthcare | Saudi Arabia | SAR 43 | -29.3% | $1050.5127420878594M | 2.0x | 1.8x | 13% | 38% | 21% | 6% | 34% |
| Saudi Cement | Saudi Arabia | SAR 37 | -4.8% | $1523.306448649549M | 3.5x | 3.3x | 4% | NaN% | 41% | 30% | 44% |
| Knowledge Economic City | Saudi Arabia | SAR 12 | -13.9% | $1112.1650532108513M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Alkhorayef Water & Power | Saudi Arabia | SAR 143 | -6.3% | $1335.9527546463044M | 2.3x | 1.9x | 23% | NaN% | NaN% | NaN% | n/a |
| Saudi Re | Saudi Arabia | SAR 33 | +20.7% | $1491.2353079055915M | 3.2x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Al Moammar Information | Saudi Arabia | SAR 144 | -19.9% | $1149.106215534933M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Arriyadh Development | Saudi Arabia | SAR 27 | -2.2% | $1693.4178863680934M | 16.4x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Al-Babtain Power | Saudi Arabia | SAR 67 | +39.8% | $1148.7407826752808M | 1.8x | 1.6x | 9% | NaN% | 17% | 8% | 27% |
| Hammadi | Saudi Arabia | SAR 30 | -12.6% | $1299.1706788040942M | 3.9x | 3.5x | 13% | 31% | 32% | 3% | 45% |
| National Agriculture | Saudi Arabia | SAR 20 | -21.4% | $1607.0762650696831M | 1.4x | 1.4x | 3% | 36% | 21% | NaN% | 24% |
| Bawan | Saudi Arabia | SAR 52 | +27.2% | $832.0009463002059M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Southern Province Cement | Saudi Arabia | SAR 24 | -24.5% | $894.9949223434681M | 4.8x | 4.7x | 3% | NaN% | 40% | 34% | 42% |
| United International Holding | Saudi Arabia | SAR 165 | NaN% | $1098.3907263475608M | 5.7x | 4.6x | 25% | NaN% | NaN% | NaN% | n/a |
| Qassim Cement | Saudi Arabia | SAR 42 | -19.3% | $1217.0268746382287M | 4.3x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Miahona | Saudi Arabia | SAR 22 | -14.6% | $936.415286548753M | NaNx | 7.4x | NaN% | 18% | 29% | NaN% | NaN% |
| Almunajem Foods | Saudi Arabia | SAR 55 | -50.5% | $880.8479700964643M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Etihad Atheeb Telecom | Saudi Arabia | SAR 96 | -8.3% | $874.8663077011333M | 1.9x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Riyadh Cement | Saudi Arabia | SAR 24 | -6.7% | $757.8495626357217M | 3.2x | 3.1x | 3% | NaN% | NaN% | NaN% | n/a |
| Jahez Intl Co for Info | Saudi Arabia | SAR 18 | -25.1% | $968.1276157405573M | 1.1x | 1.0x | 13% | 29% | 10% | 6% | 22% |
Stock prices as of November 14, 2025. Rule of 40 and revenue per FTE data is based on the last fiscal year. Financial data powered by Morningstar and FactSet.
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