Multiples Travel Tech Index
Tracks publicly traded travel tech companies across both B2C (OTAs, metasearch, etc.) and B2B (travel management systems, B2B travel, 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 February 25, 2026. 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 February 25, 2026. 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 February 25, 2026. 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 February 25, 2026.
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 | -15.0% | $1678481.5408340036M | 3.9x | 4.4x | -11% | 50% | 56% | 20% | 45% |
| Al Rajhi Bank | Saudi Arabia | SAR 106 | +3.1% | $113389.59341263174M | 13.2x | 11.6x | 13% | NaN% | NaN% | NaN% | n/a |
| Saudi National Bank | Saudi Arabia | SAR 43 | +13.5% | $68290.43079575604M | 10.0x | 9.2x | 8% | NaN% | NaN% | NaN% | n/a |
| Maaden | Saudi Arabia | SAR 74 | +21.1% | $76553.52750988405M | 8.2x | 7.9x | 4% | 48% | 42% | 20% | 46% |
| Saudi Electricity | Saudi Arabia | SAR 14 | -16.9% | $15770.522618753417M | 2.6x | 2.6x | 1% | NaN% | 43% | -14% | 44% |
| stc Group | Saudi Arabia | SAR 45 | +7.5% | $59642.43908296494M | 2.8x | 2.7x | 5% | 49% | 32% | 16% | 37% |
| Alinma Bank | Saudi Arabia | SAR 29 | -15.8% | $19401.180235912016M | 17.1x | 16.0x | 6% | NaN% | NaN% | NaN% | n/a |
| Saudi Basic Industries | Saudi Arabia | SAR 58 | -23.4% | $46444.88995715142M | 1.3x | 1.2x | 1% | 21% | 15% | 5% | 16% |
| ACWA Power | Saudi Arabia | SAR 184 | -54.4% | $37646.754578301414M | 21.5x | 18.2x | 18% | 84% | 65% | 45% | 84% |
| Riyad Bank | Saudi Arabia | SAR 28 | -5.1% | $22519.8391582946M | 7.2x | 6.8x | 6% | NaN% | NaN% | NaN% | n/a |
| Dr. Sulaiman Al Habib | Saudi Arabia | SAR 259 | -8.3% | $24178.035243211354M | 7.1x | 6.2x | 14% | 32% | 25% | 9% | 39% |
| Banque Saudi Fransi | Saudi Arabia | SAR 19 | +5.4% | $12555.174838968718M | 8.2x | 7.9x | 4% | NaN% | NaN% | NaN% | n/a |
| Saudi Awwal Bank | Saudi Arabia | SAR 35 | -3.8% | $18988.215534227456M | 5.4x | 5.1x | 6% | NaN% | NaN% | NaN% | n/a |
| Mobily | Saudi Arabia | SAR 68 | +23.6% | $13971.770675127329M | 3.0x | 2.8x | 7% | 54% | 38% | 16% | 45% |
| Almarai | Saudi Arabia | SAR 42 | -24.4% | $11254.907123037008M | 2.5x | 2.3x | 8% | 31% | 24% | 5% | 31% |
| ELM | Saudi Arabia | SAR 685 | -32.9% | $14208.770334920058M | 5.3x | 4.4x | 21% | 43% | 26% | 18% | 47% |
| SABIC Agri-Nutrient | Saudi Arabia | SAR 129 | -0.3% | $16327.927793975421M | 3.8x | 4.3x | -10% | 38% | 39% | 33% | 28% |
| Rabigh Refining | Saudi Arabia | SAR 8 | -17.2% | $4428.308248236418M | 1.4x | 1.3x | 9% | NaN% | 5% | 2% | 14% |
| Bank Albilad | Saudi Arabia | SAR 27 | -23.7% | $10914.549139930583M | 7.1x | 6.7x | 6% | NaN% | NaN% | NaN% | n/a |
| Kingdom Holding | Saudi Arabia | SAR 9 | -9.5% | $8576.561425925467M | 16.4x | 15.7x | 4% | NaN% | 47% | 27% | 52% |
| Arab National | Saudi Arabia | SAR 21 | +2.6% | $10999.591334990057M | 4.3x | 4.0x | 7% | NaN% | NaN% | NaN% | n/a |
| National Shipping Company | Saudi Arabia | SAR 30 | +38.5% | $7508.194322517362M | 3.8x | 3.6x | 4% | 31% | 48% | 29% | 52% |
| Ades Holding | Saudi Arabia | SAR 18 | +0.6% | $5330.7443305102M | 4.9x | 3.4x | 42% | 31% | 49% | 20% | 91% |
| Jabal Omar Devlopment | Saudi Arabia | SAR 16 | -28.1% | $5112.080476657252M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Dar Alarkan Real Estate | Saudi Arabia | SAR 18 | +5.6% | $5140.007925120061M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| solutions by stc | Saudi Arabia | SAR 223 | -16.6% | $7079.456262485524M | 2.0x | 1.8x | 9% | 22% | 16% | 10% | 24% |
| Arabian Centres | Saudi Arabia | SAR 19 | -13.0% | $2408.702655074073M | 10.3x | 9.6x | 8% | NaN% | 67% | 7% | 74% |
| Bupa Arabia | Saudi Arabia | SAR 164 | -32.9% | $6566.346511183477M | 1.3x | 1.1x | 12% | NaN% | NaN% | NaN% | n/a |
| Marafiq | Saudi Arabia | SAR 33 | -32.8% | $2168.7628212750305M | 3.1x | 3.0x | 1% | NaN% | 51% | NaN% | 52% |
| Zain Saudi Arabia | Saudi Arabia | SAR 12 | +1.7% | $2785.157438492661M | 1.8x | 1.8x | 4% | 61% | 31% | 3% | 36% |
| Riyadh Cables | Saudi Arabia | SAR 128 | -5.3% | $5099.316062250533M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Company for Cooperative Insurance | Saudi Arabia | SAR 141 | -20.8% | $5627.746587534274M | 0.8x | 0.8x | 6% | NaN% | NaN% | NaN% | n/a |
| Jarir | Saudi Arabia | SAR 14 | +0.9% | $4596.442557828434M | 1.5x | 1.5x | 5% | 16% | 11% | 8% | 16% |
| Bank AlJazira | Saudi Arabia | SAR 12 | -25.5% | $4096.472788460304M | 4.0x | 3.6x | 12% | NaN% | NaN% | NaN% | n/a |
| Saudi Investment Bank | Saudi Arabia | SAR 14 | -9.4% | $4671.053356325044M | 4.1x | 3.9x | 5% | NaN% | NaN% | NaN% | n/a |
| Luberef | Saudi Arabia | SAR 103 | -14.0% | $4621.385237449756M | 2.1x | 1.9x | 11% | NaN% | 17% | NaN% | 29% |
| Saudi Kayan Petrochemical | Saudi Arabia | SAR 5 | -32.6% | $2122.0510066629527M | 1.9x | 1.9x | 3% | 1% | 19% | 11% | 21% |
| Tadawul Group | Saudi Arabia | SAR 156 | -35.3% | $4984.017156781214M | 12.5x | 10.4x | 20% | 61% | 41% | NaN% | 61% |
| Emaar the Economic City | Saudi Arabia | SAR 9 | -68.7% | $2215.3521460314346M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Makkah Construction | Saudi Arabia | SAR 87 | -18.2% | $4644.488995715142M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| ALDREES Petroleum | Saudi Arabia | SAR 122 | +6.4% | $3251.1422970005992M | 0.6x | 0.5x | 19% | -1% | 5% | 4% | 23% |
| Advanced Petrochemical | Saudi Arabia | SAR 25 | -9.2% | $1762.7704211323446M | 4.5x | 3.0x | 48% | 30% | 28% | 19% | 75% |
| Electrical Industries | Saudi Arabia | SAR 14 | +54.7% | $4258.315751200724M | 7.2x | 5.9x | 22% | 37% | 31% | 18% | 53% |
| Dallah Healthcare | Saudi Arabia | SAR 115 | -16.4% | $3117.1885804663766M | 3.7x | 3.3x | 12% | 36% | 21% | 9% | 34% |
| Mouwasat | Saudi Arabia | SAR 69 | -21.7% | $3667.544758685405M | 4.4x | 3.9x | 14% | 43% | 32% | 18% | 46% |
| SAL Logistics | Saudi Arabia | SAR 179 | -36.5% | $3818.090264063758M | 8.6x | 8.0x | 7% | 56% | 48% | NaN% | 55% |
| Nahdi Medical | Saudi Arabia | SAR 100 | -19.2% | $3454.405421726868M | 1.4x | 1.3x | 9% | 38% | 16% | 7% | 26% |
| Yansab | Saudi Arabia | SAR 28 | -27.3% | $4216.074924558659M | 2.3x | 2.3x | 1% | 38% | 23% | 13% | 25% |
| Sahara International | Saudi Arabia | SAR 15 | -39.7% | $2985.107255237496M | 1.8x | 1.8x | 1% | 21% | 19% | 1% | 20% |
| Savola Gr | Saudi Arabia | SAR 23 | -40.4% | $1857.3316813673225M | 0.4x | 0.4x | 5% | 20% | 9% | 2% | 14% |
| Arabian Drilling | Saudi Arabia | SAR 96 | -11.5% | $2275.852992831405M | 3.2x | 3.0x | 9% | 29% | 39% | 20% | 48% |
| Taiba Investments | Saudi Arabia | SAR 34 | -21.9% | $2391.574817727858M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Astra Industrial Gr | Saudi Arabia | SAR 139 | -21.3% | $2968.202162778872M | 3.5x | 3.3x | 6% | 46% | 27% | NaN% | 33% |
| Arabian Contracting Services | Saudi Arabia | SAR 122 | -20.4% | $1789.5963489524236M | 5.1x | 4.4x | 15% | 18% | 46% | -7% | 61% |
| Rasan | Saudi Arabia | SAR 141 | +34.1% | $2908.8072096482547M | 15.9x | 11.5x | 38% | NaN% | 37% | NaN% | 75% |
| MBC Group | Saudi Arabia | SAR 34 | -39.6% | $2982.0822448350323M | 2.1x | 1.9x | 8% | 34% | 11% | 11% | 18% |
| National Industralization | Saudi Arabia | SAR 9 | -9.3% | $1651.5841572838008M | 2.8x | 2.7x | 6% | NaN% | 23% | NaN% | 29% |
| Almasane Alkobra Mining | Saudi Arabia | SAR 103 | +30.3% | $2480.119835672216M | 9.1x | 7.9x | 15% | 49% | 63% | NaN% | 77% |
| Jamjoom Pharma | Saudi Arabia | SAR 131 | -6.5% | $2447.699085672865M | 6.0x | 5.2x | 15% | 62% | 33% | 26% | 47% |
| Saudi Industrial Inv | Saudi Arabia | SAR 13 | -33.1% | $2442.4062366903345M | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Othaim Markets | Saudi Arabia | SAR 6 | -41.6% | $1551.89994374068M | 0.8x | 0.7x | 4% | 21% | 7% | 4% | 11% |
| Seera Group | Saudi Arabia | SAR 26 | +23.9% | $1896.1140149034945M | 1.8x | 1.6x | 9% | 43% | 21% | -1% | 30% |
| Dr. Soliman Abdul Kader | Saudi Arabia | SAR 34 | -49.1% | $2115.5914300137397M | 2.7x | 2.3x | 17% | 26% | 18% | -11% | 34% |
| SRMG | Saudi Arabia | SAR 102 | -54.7% | $2178.105184197446M | 3.0x | 2.9x | 4% | 22% | 13% | 5% | 17% |
| Saudi Automotive Services | Saudi Arabia | SAR 53 | -12.6% | $980.9481068536292M | 0.7x | 0.6x | 14% | NaN% | 6% | 3% | 20% |
| Bin Dawood | Saudi Arabia | SAR 5 | -28.7% | $1491.913966039125M | 1.3x | 1.2x | 5% | 34% | 14% | 6% | 19% |
| Saudi Chemical | Saudi Arabia | SAR 8 | -30.9% | $1832.0768739346117M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Al-Rajhi Co | Saudi Arabia | SAR 78 | -54.7% | $2088.6854247971833M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| National Medical Care | Saudi Arabia | SAR 159 | -14.6% | $1891.917644623887M | 4.4x | 4.0x | 10% | 36% | 29% | 12% | 39% |
| Catrion | Saudi Arabia | SAR 80 | -34.1% | $1751.0257363155938M | 2.9x | 2.5x | 17% | 31% | 20% | NaN% | 37% |
| Yamama Cement Co | Saudi Arabia | SAR 26 | -33.5% | $1419.4118912680817M | 5.5x | 5.1x | 6% | NaN% | 45% | NaN% | 52% |
| Saudi Real Estate | Saudi Arabia | SAR 14 | -49.1% | $1431.38346204152M | 3.6x | 3.5x | 3% | 43% | 26% | -5% | 29% |
| United Electronics | Saudi Arabia | SAR 86 | -6.0% | $1744.679577286882M | 0.9x | 0.9x | 6% | 24% | 11% | 4% | 17% |
| Leejam Sports | Saudi Arabia | SAR 99 | -46.4% | $1386.7672814368566M | 4.1x | 3.7x | 11% | 39% | 47% | 11% | 57% |
| Retal Urban Dev | Saudi Arabia | SAR 12 | -27.7% | $1598.467887031451M | 2.7x | 2.2x | 24% | NaN% | 14% | 12% | 38% |
| Al Moammar Information | Saudi Arabia | SAR 177 | +6.7% | $1416.5691436931183M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| National Gas | Saudi Arabia | SAR 87 | -7.6% | $1750.6920804969361M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| United International | Saudi Arabia | SAR 60 | -23.8% | $1251.8766529576515M | 2.7x | 2.5x | 9% | 31% | 52% | 23% | 61% |
| Aldawaa Medical Services | Saudi Arabia | SAR 50 | -36.4% | $1143.5052217036591M | 0.9x | 0.9x | 4% | 34% | 13% | 6% | 17% |
| SADAFCO | Saudi Arabia | SAR 221 | -26.9% | $1883.0089555229536M | 2.0x | 1.9x | 7% | 34% | 18% | 10% | 25% |
| Knowledge Economic City | Saudi Arabia | SAR 13 | -23.4% | $1165.6041808096506M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| National Company for Learning & Education | Saudi Arabia | SAR 131 | -29.9% | $1497.8477011181333M | 8.4x | 7.5x | 12% | 44% | 36% | 18% | 48% |
| Saudi Ground Services | Saudi Arabia | SAR 35 | -29.0% | $1750.3424091989828M | 2.1x | 2.0x | 9% | 23% | 21% | NaN% | 30% |
| Saudi Cement | Saudi Arabia | SAR 35 | -19.2% | $1412.228948804019M | 3.6x | 3.4x | 6% | NaN% | 38% | 24% | 44% |
| Middle East Healthcare | Saudi Arabia | SAR 36 | -52.6% | $876.5771501419184M | 1.8x | 1.6x | 12% | 38% | 20% | 5% | 33% |
| Al-Babtain Power | Saudi Arabia | SAR 69 | +65.0% | $1170.9349341608795M | 1.8x | 1.6x | 9% | NaN% | 18% | 8% | 27% |
| Alkhorayef Water & Power | Saudi Arabia | SAR 126 | -10.3% | $1174.3350193476304M | 1.7x | 1.5x | 13% | NaN% | 20% | NaN% | 33% |
| Saudi Re | Saudi Arabia | SAR 27 | -28.1% | $1217.4691360398706M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Hammadi | Saudi Arabia | SAR 26 | -27.1% | $1130.9063779911444M | 3.5x | 3.1x | 11% | 30% | 30% | 6% | 41% |
| Qassim Cement | Saudi Arabia | SAR 43 | -20.0% | $1251.0170343849957M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| National Agriculture Dev | Saudi Arabia | SAR 18 | -25.5% | $1429.1439641866896M | 1.2x | 1.1x | 6% | 36% | 16% | -1% | 22% |
| Southern Province Cement | Saudi Arabia | SAR 22 | -35.3% | $814.6540468346329M | 4.9x | 4.6x | 7% | NaN% | 33% | 21% | 40% |
| Bawan | Saudi Arabia | SAR 47 | -10.2% | $747.6025735171822M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| United International Holding | Saudi Arabia | SAR 145 | -13.9% | $965.599939195375M | 5.4x | 4.3x | 24% | NaN% | NaN% | NaN% | n/a |
| Arriyadh Development | Saudi Arabia | SAR 19 | -33.4% | $1200.1333729290577M | 8.1x | 5.3x | 54% | NaN% | 99% | 104% | 153% |
| Almunajem Foods | Saudi Arabia | SAR 53 | -47.8% | $850.4219505947381M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Miahona | Saudi Arabia | SAR 17 | -35.4% | $730.6644654149153M | 4.5x | 6.2x | -28% | 18% | 30% | NaN% | 2% |
| Riyadh Cement | Saudi Arabia | SAR 24 | -26.6% | $773.867959561916M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Etihad GO Telecom | Saudi Arabia | SAR 94 | -17.0% | $851.7273763159897M | 1.8x | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Jahez Intl Co for Info | Saudi Arabia | SAR 15 | -48.5% | $837.1711500856826M | 1.0x | 0.8x | 23% | 26% | 9% | 6% | 32% |
Stock prices as of February 25, 2026. 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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