Multiples Telecom Index
Tracks key publicly traded telecom service providers across the globe
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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 August 23, 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 August 23, 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 August 23, 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 August 23, 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 |
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Saudi Aramco | Saudi Arabia | SAR 24 | -12.0% | $1529796.805765832M | 3.7x | 3.7x | -2% | 43% | 52% | 15% | 49% |
Al Rajhi Bank | Saudi Arabia | SAR 96 | +10.7% | $102495.55343563206M | 11.2x | 9.8x | 15% | NaN% | NaN% | NaN% | n/a |
Saudi National Bank | Saudi Arabia | SAR 36 | -1.3% | $57212.77249333681M | 8.8x | 8.1x | 9% | NaN% | NaN% | NaN% | n/a |
Saudi Electricity | Saudi Arabia | SAR 15 | -13.5% | $16139.699537589398M | 2.5x | 2.4x | 6% | 24% | 41% | -18% | 46% |
Maaden | Saudi Arabia | SAR 53 | +20.7% | $55027.90921920204M | 6.7x | 6.3x | 6% | 44% | 40% | 15% | 45% |
stc Group | Saudi Arabia | SAR 43 | +9.1% | $57106.76685402202M | 2.7x | 2.6x | 5% | 47% | 32% | 15% | 36% |
ACWA POWER | Saudi Arabia | SAR 226 | -43.9% | $46230.15284016532M | 27.0x | 22.3x | 21% | 66% | 50% | 64% | 71% |
Saudi Basic Industries | Saudi Arabia | SAR 62 | -30.6% | $49540.406749080874M | 1.3x | 1.3x | 2% | 20% | 16% | 7% | 16% |
Alinma Bank | Saudi Arabia | SAR 26 | -20.3% | $16951.7033187146M | 15.5x | 14.3x | 8% | NaN% | NaN% | NaN% | n/a |
Riyad Bank | Saudi Arabia | SAR 27 | +2.7% | $21509.16368894539M | 6.1x | 5.7x | 7% | NaN% | NaN% | NaN% | n/a |
Dr. Sulaiman Al Habib | Saudi Arabia | SAR 248 | -9.0% | $23109.51930338789M | 7.3x | 6.2x | 18% | 33% | 24% | 11% | 42% |
Saudi Awwal Bank | Saudi Arabia | SAR 31 | -17.7% | $16971.374444337038M | 4.7x | 4.4x | 7% | NaN% | NaN% | NaN% | n/a |
ELM | Saudi Arabia | SAR 862 | -0.4% | $17870.313161681435M | 7.4x | 6.0x | 24% | 43% | 26% | 15% | 50% |
Banque Saudi Fransi | Saudi Arabia | SAR 17 | -3.8% | $11172.720681702229M | 6.4x | 5.9x | 8% | NaN% | NaN% | NaN% | n/a |
Almarai | Saudi Arabia | SAR 46 | -20.7% | $12293.446425848506M | 2.6x | 2.5x | 7% | 31% | 24% | 8% | 31% |
Mobily | Saudi Arabia | SAR 65 | +17.7% | $13403.521195964975M | 3.0x | 2.8x | 7% | 54% | 38% | 18% | 44% |
SABIC Agri-Nutrient | Saudi Arabia | SAR 123 | +1.4% | $15594.99660764675M | 4.0x | 4.0x | -1% | 38% | 39% | 31% | 38% |
Arab National | Saudi Arabia | SAR 22 | +1.4% | $11772.68942160953M | 4.6x | 4.3x | 7% | NaN% | NaN% | NaN% | n/a |
Bank Albilad | Saudi Arabia | SAR 27 | -15.1% | $10604.36816519098M | 7.1x | 6.5x | 10% | NaN% | NaN% | NaN% | n/a |
National Shipping Company | Saudi Arabia | SAR 22 | -7.0% | $5416.293583796994M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Ades Holding | Saudi Arabia | SAR 15 | -38.2% | $4332.1308479328645M | 4.4x | 3.9x | 13% | 28% | 52% | 18% | 66% |
solutions by stc | Saudi Arabia | SAR 243 | -18.8% | $7701.147362684469M | 2.2x | 2.0x | 9% | 24% | 16% | 12% | 25% |
Marafiq | Saudi Arabia | SAR 41 | -34.8% | $2706.4481770028297M | 3.4x | 3.4x | 0% | NaN% | 47% | NaN% | 41% |
Bupa Arabia | Saudi Arabia | SAR 150 | -26.8% | $6002.472546334517M | 1.1x | 1.0x | 12% | NaN% | NaN% | NaN% | n/a |
Riyadh Cables | Saudi Arabia | SAR 133 | +34.3% | $5316.16297413209M | 2.0x | 1.9x | 8% | 15% | 12% | 8% | 20% |
Zain Saudi Arabia | Saudi Arabia | SAR 11 | -4.4% | $2587.0090569510976M | 1.8x | 1.7x | 4% | 60% | 31% | 6% | 35% |
Tadawul Group | Saudi Arabia | SAR 173 | -29.3% | $5525.476061319134M | 13.3x | 12.4x | 8% | 61% | 37% | NaN% | 43% |
Bank AlJazira | Saudi Arabia | SAR 12 | -8.6% | $4240.223304991016M | 4.3x | 3.8x | 13% | NaN% | NaN% | NaN% | n/a |
Company for Cooperative Insurance | Saudi Arabia | SAR 125 | -6.7% | $4997.446603801701M | 0.8x | 0.7x | 12% | NaN% | NaN% | NaN% | n/a |
ALDREES Petroleum | Saudi Arabia | SAR 125 | +5.9% | $3321.3681423050994M | 0.7x | 0.6x | 20% | 2% | 5% | 4% | 25% |
Dallah Healthcare | Saudi Arabia | SAR 129 | -17.9% | $3495.1669305290416M | 4.3x | 3.7x | 17% | NaN% | 20% | -5% | 37% |
Jarir | Saudi Arabia | SAR 13 | -1.0% | $4081.6813315074714M | 1.5x | 1.4x | 5% | 15% | 11% | 8% | 16% |
Nahdi Medical | Saudi Arabia | SAR 114 | -6.8% | $3960.5647743503214M | 1.6x | 1.5x | 8% | 38% | 17% | 8% | 25% |
Mouwasat | Saudi Arabia | SAR 73 | -37.0% | $3870.9278509917262M | 4.9x | 4.3x | 14% | 45% | 31% | 18% | 46% |
Luberef | Saudi Arabia | SAR 85 | -19.7% | $3824.3300590350423M | 1.6x | 1.7x | -4% | NaN% | 17% | NaN% | 10% |
SAL Logistics | Saudi Arabia | SAR 169 | -45.1% | $3613.221696335764M | 8.6x | 8.3x | 4% | 57% | 49% | NaN% | 52% |
Saudi Investment Bank | Saudi Arabia | SAR 14 | +12.6% | $4668.461724453659M | 3.1x | 2.9x | 7% | NaN% | NaN% | NaN% | n/a |
SRMG | Saudi Arabia | SAR 164 | -29.4% | $3504.3768608288983M | 3.8x | 3.6x | 6% | 32% | 24% | 15% | 29% |
Al-Rajhi Co | Saudi Arabia | SAR 119 | -45.6% | $3174.641035616922M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Jamjoom Pharma | Saudi Arabia | SAR 158 | +3.1% | $2944.946419510521M | 7.5x | 6.5x | 15% | 62% | 34% | NaN% | 50% |
Electrical Industries | Saudi Arabia | SAR 9 | +31.9% | $2700.7791751535137M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Dr. Soliman Abdul Kader | Saudi Arabia | SAR 40 | -35.0% | $2428.573714591184M | 3.2x | 2.8x | 14% | 26% | 19% | -11% | 32% |
Leejam Sports | Saudi Arabia | SAR 149 | -29.0% | $2083.179888048173M | 6.0x | 5.4x | 12% | 39% | 48% | 11% | 60% |
Arabian Drilling | Saudi Arabia | SAR 75 | -42.1% | $1770.0491209467643M | 2.6x | 2.6x | 1% | 26% | 39% | 13% | 39% |
Othaim Markets | Saudi Arabia | SAR 8 | -37.6% | $1855.9645113266326M | 0.8x | 0.8x | 5% | 21% | 8% | 3% | 12% |
Seera Group | Saudi Arabia | SAR 27 | +4.4% | $1982.0049663422221M | 2.0x | 1.8x | 10% | 41% | 21% | 2% | 31% |
Bin Dawood | Saudi Arabia | SAR 6 | -18.3% | $1680.140085499402M | 1.4x | 1.3x | 9% | 36% | 14% | 6% | 23% |
MBC Group | Saudi Arabia | SAR 29 | -27.7% | $2568.8448285850814M | 1.8x | 1.5x | 15% | NaN% | 11% | NaN% | 24% |
Catrion | Saudi Arabia | SAR 101 | -2.2% | $2205.0683146214483M | 3.5x | 3.0x | 14% | 30% | 21% | NaN% | 36% |
Saudi Ground Services | Saudi Arabia | SAR 46 | -4.9% | $2319.1206285329563M | 2.8x | 2.6x | 9% | 22% | 21% | NaN% | 29% |
SADAFCO | Saudi Arabia | SAR 267 | -23.5% | $2282.7536481988973M | 2.6x | 2.4x | 6% | 35% | 19% | 11% | 25% |
Arabian Contracting Services | Saudi Arabia | SAR 87 | -53.0% | $1275.0585571202587M | 3.8x | 3.1x | 22% | 31% | 66% | NaN% | 88% |
Aldawaa Medical Services | Saudi Arabia | SAR 67 | -18.0% | $1515.8910945070802M | 1.1x | 1.0x | 8% | 35% | 14% | 5% | 21% |
National Medical Care | Saudi Arabia | SAR 171 | -21.5% | $2036.3193366552787M | 5.1x | 4.5x | 14% | 35% | 31% | 17% | 44% |
Middle East Healthcare | Saudi Arabia | SAR 57 | -28.6% | $1389.7628729385776M | 2.5x | 2.2x | 12% | 39% | 22% | NaN% | 34% |
National Company for Learning & Education | Saudi Arabia | SAR 165 | -9.5% | $1887.0439802887645M | 11.1x | 10.0x | 10% | NaN% | 37% | NaN% | 47% |
Rasan | Saudi Arabia | SAR 96 | +50.0% | $1975.6921897083557M | 13.3x | 9.4x | 43% | 68% | 34% | NaN% | 77% |
National Gas | Saudi Arabia | SAR 75 | -28.6% | $1498.6173124015177M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Hammadi | Saudi Arabia | SAR 34 | -22.7% | $1438.459198659365M | 4.5x | 4.0x | 11% | 33% | 33% | NaN% | 45% |
Saudi Re | Saudi Arabia | SAR 46 | +48.9% | $1422.6695478991253M | 2.5x | 1.9x | 31% | NaN% | NaN% | NaN% | n/a |
Alkhorayef Water & Power | Saudi Arabia | SAR 129 | -28.5% | $1206.3635935344305M | 2.1x | 1.7x | 19% | 24% | 17% | 3% | 37% |
Al Moammar Information | Saudi Arabia | SAR 132 | -29.0% | $1054.0341791363412M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
United International Holding | Saudi Arabia | SAR 158 | NaN% | $1052.4335197906519M | 6.3x | 5.2x | 21% | NaN% | NaN% | NaN% | n/a |
Almunajem Foods | Saudi Arabia | SAR 57 | -33.1% | $919.5787940984479M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Etihad Atheeb Telecom | Saudi Arabia | SAR 101 | +3.1% | $917.9220796624727M | 2.0x | 1.9x | 5% | NaN% | 23% | NaN% | 27% |
Stock prices as of August 23, 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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