Arabian Pipes Company (2200) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of Arabian Pipes Company stock SAR 1.76, price SAR 4.16, that is 57.6% below the price, quality 54 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
60‑month range 1.58 SAR – 10.30 SAR · fair‑value band 1.29 SAR – 2.23 SAR · the 4.16 SAR price screens above the 1.76 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Oct 31, 2026.
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Arabian Pipes Company engages in the production and marketing of longitudinally welded steel pipes for pipelines and for construction and commercial purposes in the Kingdom of Saudi Arabia.
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It is also involved in bending, shaping, and threading pipes from the outside and inside, carrying out commercial business such as selling and buying pipes.
In addition, the company offers accessories, carrying out pipeline extension works, manufacturing pipes, hoses, plastic pipes, their connections and accessories. Further, it manufactures pipes, pipes, and shapes hollow iron and steel.
Additionally, the company exports its products to the North Africa, Middle East, and Gulf countries. Arabian Pipes Company was founded in 1991 and is based in Riyadh, the Kingdom of Saudi Arabia.
Stock analysis
Arabian Pipes Company (2200) currently trades at 4.16 SAR, while our model-based Fair Value estimate is 1.76 SAR, 57.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 9.88 SAR per share, and 20 of the 26 models we run sit above the 4.16 SAR price.
Bear case: the Asset-Based group reads lowest at 0.8200 SAR, and 6 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 1.29 SAR (bear) to 2.23 SAR (bull), the price of 4.16 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 54/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Arabian Pipes Company reported revenue of 874M SAR in FY2025 versus 389M SAR in FY2021, a compound +22.5%/yr. Reported net income was 110M SAR in FY2025.
Key figures
Market cap 1.0B SAR (≈ $277M) Micro · P/E ratio 16.0 · P/S ratio 1.44 · EPS (TTM) 0.2600 SAR · Dividend yield 3.3% · Net margin 9.0% · Return on equity 13.9% · Return on assets (EBIT) 11.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 45% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −36% fair-value upside, at −58%, 2200 screens richer than that median.
Fair Value models
Bear1.29 SARFair Value 1.76 SARBull2.23 SAR
Price 4.16 SAR · Downside -57.6%
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 (0.1043 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.
Best data coverage
FCF DCF8.83 SAR13.08 SAR18.81 SAR80
Growth DCF8.80 SAR12.70 SAR17.71 SAR79
Owner Earnings8.42 SAR12.47 SAR17.94 SAR76
All 26 models by family
DCF Models
FCF DCF8.83 SAR13.08 SAR18.81 SAR80
Owner Earnings8.42 SAR12.47 SAR17.94 SAR76
5Y Revenue Exit5.72 SAR8.15 SAR11.15 SAR73
5Y EBITDA Exit6.58 SAR9.81 SAR13.56 SAR75
5Y P/E Exit6.61 SAR9.88 SAR13.32 SAR71
10Y Revenue Exit6.84 SAR9.28 SAR12.44 SAR67
10Y EBITDA Exit7.43 SAR10.32 SAR14.12 SAR69
10Y P/E Exit7.44 SAR10.36 SAR13.95 SAR64
Earnings-Based
Graham-Dodd3.00 SAR10.95 SAR14.77 SAR64
Lynch FV2.60 SAR3.72 SAR4.84 SAR61
PEG = 1.02.60 SAR3.72 SAR4.84 SAR57
EPV4.04 SAR4.55 SAR4.97 SAR74
Dividend Discount
Gordon GGM0.6600 SAR1.14 SAR1.52 SAR68
DDM Multi-Stage0.6600 SAR1.06 SAR1.22 SAR67
Multiples
P/E Multiple5.63 SAR7.51 SAR9.39 SAR63
P/S Multiple3.93 SAR5.24 SAR6.56 SAR58
P/B Multiple4.38 SAR5.84 SAR7.30 SAR55
EV/EBIT5.71 SAR7.76 SAR9.82 SAR66
EV/EBITDA5.11 SAR6.97 SAR8.82 SAR67
EV/Revenue3.21 SAR4.78 SAR6.36 SAR53
Asset-Based
NCAV (Graham)0.5400 SAR0.8200 SAR1.03 SAR54
Growth DCF
Growth DCF8.80 SAR12.70 SAR17.71 SAR79
Rev-Margin DCF5.72 SAR8.25 SAR11.34 SAR73
Economic Profit
Residual Income2.28 SAR2.93 SAR4.54 SAR74
ROIC Compounder4.33 SAR5.23 SAR6.22 SAR72
Growth Earnings
Growth-Adj P/E4.33 SAR6.19 SAR8.05 SAR67
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−23.2%
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.
+18.0%
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.
+19.3%
Start year 2020 (pandemic). Over 10 years: +8.9% a year
Revenue growth 19 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.
+2.1%
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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.
−24.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−28.2%
Dividend (yield on the price)3.3%
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.−28.2% vs 2.5%, slowing
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.−47% → 17%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−14.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Saudi Arabia: IMF forecast 2.1% a year to 2030, 1.7% from 2016 to 2025) that is about −16.5% a year for the price.
Price, fair value, quality and upside side by side.
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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.Steel · 408 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−57.6% · Bottom 25%
Profitability
Return on equity (12 months)13.9% · Top 25%
Return on assets15.2% · Top 25%
Net margin (12 months)9.0% · Top 25%
Operating margin (12 months)7.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)−37.2% · Bottom 25%
Dividend yield (12 months)3.3% · Above median
Valuation Multiplesvs Steel median · lower = cheaper
P/E (12 months)16.0× · Cheaper than median
P/B2.14× · Priciest 25%
P/S (12 months)1.44× · Priciest 25%
Price / free cash flow4.9× · Cheapest 25%
EV/EBITDA9.2× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 20
FUTURE (revenue growth)0· sector 34
PAST (return on equity)55· sector 18
HEALTH (low debt)100· sector 95
DIVIDEND (yield)65· sector 50
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). "Arabian Pipes Company Fair Value". https://www.fairvalue-calculator.com/stock/2200
Frequently asked questions
Is Arabian Pipes Company (2200) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of 1.76 SAR versus a price of 4.16 SAR, about 58% lower (overvalued).
What is the fair value of 2200?
Our model-based fair value for Arabian Pipes Company is 1.76 SAR (as of Oct 31, 2026), built from audited fundamentals. The current price: 4.16 SAR.
What is the quality score of 2200?
Arabian Pipes Company has a Quality Score of 54/100. 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 Arabian Pipes Company (2200)?
Our model-based price target is the fair value of 1.76 SAR (as of Oct 31, 2026) from 26 valuation models. Cautious scenario 1.29 SAR, optimistic scenario 2.23 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Arabian Pipes Company stock forecast for 2026?
Our models put fair value at 1.76 SAR, about 58% lower versus a price of 4.16 SAR (overvalued). Cautious scenario 1.29 SAR, optimistic scenario 2.23 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Arabian Pipes Company (2200)?
Arabian Pipes Company reported trailing-twelve-month revenue of about 725M SAR (latest available figure, as of Oct 31, 2026).
Does Arabian Pipes Company pay a dividend?
Arabian Pipes Company currently shows a dividend yield of 3.27% relative to its recent price (as of Oct 31, 2026).
What growth is priced into Arabian Pipes Company (2200)?
For today's price to be fair in a discounted-cash-flow model, Arabian Pipes Company would have to grow free cash flow by -14.7 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +19.3 % per year. As of Oct 31, 2026.
What discount rate (WACC) does the fair value of 2200 use?
Our models discount Arabian Pipes Company at 11.8 %: a base by market capitalisation (micro), damped by beta 0.53, country premium for Saudi Arabia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Arabian Pipes Company that is -14.7 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Arabian Pipes Company (2200) delivered so far?
Over the past 5 years revenue at Arabian Pipes Company grew +19.3 % a year. The price currently implies -14.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Arabian Pipes Company (2200) growing?
The median revenue growth in the sector is +9.7 % a year. That is the yardstick for the growth priced into Arabian Pipes Company (-14.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Arabian Pipes Company (2200)?
The free-cash-flow yield on the price is 25.50 %: that much free cash flow Arabian Pipes Company produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Arabian Pipes Company (2200)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arabian Pipes Company it is 1.76 SAR per share (as of Oct 31, 2026), against a price of 4.16 SAR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Arabian Pipes Company stock overvalued or undervalued in 2026?
As of Oct 31, 2026, 2200 trades above its calculated fair value: price 4.16 SAR, fair value 1.76 SAR, a gap of about −58% (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 2200?
No. The price is what the market pays today (4.16 SAR); the fair value is what the company's own numbers justify (1.76 SAR). For Arabian Pipes Company the two are 2.40 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Arabian Pipes Company worth?
The market values Arabian Pipes Company at about 1.0B SAR (market capitalisation, as of Oct 31, 2026). Per share that is 4.16 SAR; our models calculate a fair value of 1.76 SAR per share.
What do the bullish and bearish scenarios say about 2200?
Our models span a range for Arabian Pipes Company: cautious scenario 1.29 SAR, base 1.76 SAR, optimistic 2.23 SAR per share (as of Oct 31, 2026, price 4.16 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2200?
Arabian Pipes Company trades at a price-to-earnings ratio of 16.0 (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 1.76 SAR is built from several models across several years. Other multiples: P/B 2.1, P/S 1.4, EV/EBITDA 9.2.
How solid is the balance sheet of Arabian Pipes Company (2200)?
Balance-sheet figures for Arabian Pipes Company (as of Oct 31, 2026): return on equity 13.9%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 2200 from its 52-week high?
Arabian Pipes Company trades at 4.16 SAR, about 45% below its 52-week high of 7.63 SAR and 2% above the low of 4.09 SAR (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of 1.76 SAR is for.
Which stocks are comparable to Arabian Pipes Company?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Arabian Pipes Company stock attractive at the current price?
The data as of Oct 31, 2026: price 4.16 SAR, calculated fair value 1.76 SAR (−58%), Quality Score 54/100, from 26 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 2200 calculated?
We run Arabian Pipes Company through 26 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 1.76 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 15.2 % above its aggregate fair value. Arabian Pipes Company 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 Arabian Pipes Company (2200)?
The closing price on Nov 2, 2026 was 4.16 SAR. Our model-based fair value is 1.76 SAR, about 58% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arabian Pipes Company right now?
The price sits above even our optimistic bull case (2.23 SAR). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Arabian Pipes Company
How large is the market capitalisation of Arabian Pipes Company (2200)?
The market capitalisation of Arabian Pipes Company is 1.0B SAR (≈ $277M). 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 Arabian Pipes Company (2200)?
The price-to-sales ratio of Arabian Pipes Company is 1.44 (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 Arabian Pipes Company (2200)?
Earnings per share at Arabian Pipes Company are 0.2600 SAR (price ÷ EPS = P/E 16.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Arabian Pipes Company (2200)?
The dividend yield of Arabian Pipes Company is 3.3% (payout 52.3%). 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 Arabian Pipes Company (2200)?
The net margin of Arabian Pipes Company is 9.0% (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 Arabian Pipes Company (2200)?
The return on equity (ROE) of Arabian Pipes Company is 13.9% (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 Arabian Pipes Company (2200)?
On an EBIT basis the return on assets of Arabian Pipes Company is 11.7% (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 Arabian Pipes Company (2200)?
The operating margin of Arabian Pipes Company is 7.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arabian Pipes Company (2200)?
Revenue at Arabian Pipes Company is growing −37.2% versus a year earlier (3y avg +18.0%). 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 Arabian Pipes Company (2200)?
Earnings per share at Arabian Pipes Company are growing −76.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Arabian Pipes Company (2200) carry?
The net debt of Arabian Pipes Company is 115M SAR (fiscal year 2025, ≈ 0.5 yrs of FCF). 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