International Company for Water and Power Projects (ACWA Power) (2082) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of International Company for Water and Power Projects (ACWA Power) stock SAR 27.47, price SAR 152, that is 81.9% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.
How to read this chart
58‑month range 74.83 SAR – 496.04 SAR · fair‑value band 27.47 SAR – 32.50 SAR · the 151.50 SAR price screens above the 27.47 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 31, 2026.
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ACWA Power Company, together with its subsidiaries, engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.
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The company operates through Thermal and Water Desalination; Renewables; and Others segments. It generates power through fossil fuel, such as oil, coal, and gas. The company also sells electricity, desalinated water, and green hydrogen and/or green ammonia.
In addition, it installs, maintains, and operates contracting of electricity generation, and desalination plants; power plants; generating renewable energy using photovoltaic, concentrated solar power, wind plants, and hydrogen sources; investment in industrial and commercial enterprises and management; and managing office; and provision of financial advisory, book-keeping and reporting, tax compliance, and related services, as well as reinsurance services.
Further, the company constructs, owns, buys, manages, operates, and invests in industrial, services and construction projects of power stations, electricity, steam stations, water desalination plants and provides operation and maintenance under long-term contracts; and supplies power, water, desalinated water, and steam.
The company was formerly known as International Company for Water and Power Projects and changed its name to ACWA Power Company in January 2022. ACWA Power Company was founded in 2004 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.
Stock analysis
International Company for Water and Power Projects (ACWA Power) (2082) currently trades at 151.50 SAR, while our model-based Fair Value estimate is 27.47 SAR, 81.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 41.14 SAR per share, and 0 of the 13 models we run sit above the 151.50 SAR price.
Bear case: the Asset-Based group reads lowest at 23.19 SAR, and 13 of the 13 models stay below the price. Data coverage for this calculation is low.
Scenario range: 27.47 SAR (bear) to 32.50 SAR (bull), the price of 151.50 SAR sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
International Company for Water and Power Projects (ACWA Power) reported revenue of 7.4B SAR in FY2025 versus 5.2B SAR in FY2021, a compound +9.1%/yr. Reported net income was 1.9B SAR in FY2025, compounding +25.0%/yr from FY2021.
Key figures
Market cap 114B SAR (≈ $30.3B) Large · P/E ratio 68.9 · P/S ratio 14.7 · EPS (TTM) 2.20 SAR · Dividend yield 0.3% · Net margin 20.6% · Return on equity 6.0% · Return on assets (EBIT) 4.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −45% fair-value upside, at −82%, 2082 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (2.30 SAR to 73.80 SAR). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear27.47 SARFair Value 27.47 SARBull32.50 SAR
Price 151.50 SAR · Downside -81.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.46 SAR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+17.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.0%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+17.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.7%
Dividend (yield on the price)0.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.16.7% vs 4.5%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.36% → 25%
AI conclusion: Securing major long-term power purchase agreements and financial closes on gas and renewable projects forms the main strength, offset by negative free cash flow and earnings volatility from project timing.
Main risk: Cost-competitive Chinese EPC developers such as PowerChina and JinkoPower could win more tenders and force lower power purchase agreement prices on ACWA Power's renewable projects.
Bull case: ACWA Power could leverage its scale, local partnerships and AI-driven operational efficiencies to secure more diversified international contracts and maintain competitive edges in tenders despite rival pressure.
Bear case: Intensified competition from low-cost Chinese developers combined with regulatory shifts in Saudi Arabia could erode margins on new projects and limit the predictability of long-term contracted cash flows.
ACWA Power keeps locking in major long-term power purchase agreements and reaching financial closes on large gas and renewable projects. At the same time its first-half net income fell 28 percent year over year because of shifts in project milestone timing. Will the growing contracted backlog deliver more predictable earnings or will those timing swings continue to weigh on results?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Diversified · 49 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside−81.9% · Bottom 25%
Profitability
Return on equity (12 months)6.0% · Below median
Return on assets2.6% · Below median
Net margin (12 months)20.6% · Top 25%
Operating margin (12 months)27.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)15.1% · Above median
Dividend yield (12 months)0.3% · Bottom 25%
Balance sheet
Debt / equity0.98× · Below median
Valuation Multiplesvs Utilities - Diversified median · lower = cheaper
P/E (12 months)68.9× · Priciest 25%
P/B3.92× · Priciest 25%
P/S (12 months)14.70× · Priciest 25%
EV/EBITDA51.2× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)76· sector 32
PAST (return on equity)24· sector 35
HEALTH (low debt)51· sector 48
DIVIDEND (yield)6· sector 82
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "International Company for Water and Power Projects (ACWA Power) Fair Value". https://www.fairvalue-calculator.com/stock/2082
Frequently asked questions
Is International Company for Water and Power Projects (ACWA Power) (2082) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of 27.47 SAR versus a price of 151.50 SAR, about 82% lower (overvalued).
What is the fair value of 2082?
Our model-based fair value for International Company for Water and Power Projects (ACWA Power) is 27.47 SAR (as of Oct 31, 2026), built from audited fundamentals. The current price: 151.50 SAR.
What is the quality score of 2082?
International Company for Water and Power Projects (ACWA Power) has a Quality Score of 42/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for International Company for Water and Power Projects (ACWA Power) (2082)?
Our model-based price target is the fair value of 27.47 SAR (as of Oct 31, 2026) from 14 valuation models. Cautious scenario 27.47 SAR, optimistic scenario 32.50 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the International Company for Water and Power Projects (ACWA Power) stock forecast for 2026?
Our models put fair value at 27.47 SAR, about 82% lower versus a price of 151.50 SAR (overvalued). Cautious scenario 27.47 SAR, optimistic scenario 32.50 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of International Company for Water and Power Projects (ACWA Power) (2082)?
International Company for Water and Power Projects (ACWA Power) reported trailing-twelve-month revenue of about 7.7B SAR (latest available figure, as of Oct 31, 2026).
Does International Company for Water and Power Projects (ACWA Power) pay a dividend?
International Company for Water and Power Projects (ACWA Power) currently shows a dividend yield of 0.30% relative to its recent price (as of Oct 31, 2026).
What is the intrinsic value of International Company for Water and Power Projects (ACWA Power) (2082)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For International Company for Water and Power Projects (ACWA Power) it is 27.47 SAR per share (as of Oct 31, 2026), against a price of 151.50 SAR. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is International Company for Water and Power Projects (ACWA Power) stock overvalued or undervalued in 2026?
As of Oct 31, 2026, 2082 trades above its calculated fair value: price 151.50 SAR, fair value 27.47 SAR, a gap of about −82% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2082?
No. The price is what the market pays today (151.50 SAR); the fair value is what the company's own numbers justify (27.47 SAR). For International Company for Water and Power Projects (ACWA Power) the two are 124.03 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is International Company for Water and Power Projects (ACWA Power) worth?
The market values International Company for Water and Power Projects (ACWA Power) at about 114B SAR (market capitalisation, as of Oct 31, 2026). Per share that is 151.50 SAR; our models calculate a fair value of 27.47 SAR per share.
What do the bullish and bearish scenarios say about 2082?
Our models span a range for International Company for Water and Power Projects (ACWA Power): cautious scenario 27.47 SAR, base 27.47 SAR, optimistic 32.50 SAR per share (as of Oct 31, 2026, price 151.50 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2082?
International Company for Water and Power Projects (ACWA Power) trades at a price-to-earnings ratio of 68.9 (as of Oct 31, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 27.47 SAR is built from several models across several years. Other multiples: P/B 3.9, P/S 14.7, EV/EBITDA 51.2.
How solid is the balance sheet of International Company for Water and Power Projects (ACWA Power) (2082)?
Balance-sheet figures for International Company for Water and Power Projects (ACWA Power) (as of Oct 31, 2026): return on equity 6.0%, debt of 0.98 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 2082 from its 52-week high?
International Company for Water and Power Projects (ACWA Power) trades at 151.50 SAR, about 39% below its 52-week high of 246.92 SAR and 7% above the low of 141.00 SAR (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of 27.47 SAR is for.
Which stocks are comparable to International Company for Water and Power Projects (ACWA Power)?
From the same area (Utilities) we also value Iberdrola, S.A, Enel SpA, Engie SA, Sempra, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is International Company for Water and Power Projects (ACWA Power) stock attractive at the current price?
The data as of Oct 31, 2026: price 151.50 SAR, calculated fair value 27.47 SAR (−82%), Quality Score 42/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2082 calculated?
We run International Company for Water and Power Projects (ACWA Power) through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 27.47 SAR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. International Company for Water and Power Projects (ACWA Power) itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of International Company for Water and Power Projects (ACWA Power) (2082)?
The closing price on Nov 2, 2026 was 151.50 SAR. Our model-based fair value is 27.47 SAR, about 82% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with International Company for Water and Power Projects (ACWA Power) right now?
The price sits above even our optimistic bull case (32.50 SAR). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of International Company for Water and Power Projects (ACWA Power)
How large is the market capitalisation of International Company for Water and Power Projects (ACWA Power) (2082)?
The market capitalisation of International Company for Water and Power Projects (ACWA Power) is 114B SAR (≈ $30.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of International Company for Water and Power Projects (ACWA Power) (2082)?
The price-to-sales ratio of International Company for Water and Power Projects (ACWA Power) is 14.7 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of International Company for Water and Power Projects (ACWA Power) (2082)?
Earnings per share at International Company for Water and Power Projects (ACWA Power) are 2.20 SAR (price ÷ EPS = P/E 68.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of International Company for Water and Power Projects (ACWA Power) (2082)?
The dividend yield of International Company for Water and Power Projects (ACWA Power) is 0.3% (payout 20.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of International Company for Water and Power Projects (ACWA Power) (2082)?
The net margin of International Company for Water and Power Projects (ACWA Power) is 20.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of International Company for Water and Power Projects (ACWA Power) (2082)?
The return on equity (ROE) of International Company for Water and Power Projects (ACWA Power) is 6.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of International Company for Water and Power Projects (ACWA Power) (2082)?
On an EBIT basis the return on assets of International Company for Water and Power Projects (ACWA Power) is 4.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of International Company for Water and Power Projects (ACWA Power) (2082)?
The operating margin of International Company for Water and Power Projects (ACWA Power) is 27.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at International Company for Water and Power Projects (ACWA Power) (2082)?
Revenue at International Company for Water and Power Projects (ACWA Power) is growing +15.1% versus a year earlier (3y avg +12.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at International Company for Water and Power Projects (ACWA Power) (2082)?
Earnings per share at International Company for Water and Power Projects (ACWA Power) are growing −37.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does International Company for Water and Power Projects (ACWA Power) (2082) generate?
The free cash flow of International Company for Water and Power Projects (ACWA Power) is −1.2B SAR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does International Company for Water and Power Projects (ACWA Power) (2082) carry?
The net debt of International Company for Water and Power Projects (ACWA Power) is 22.7B SAR (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Oct 31, 2026