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STOCK COMPARISON

Saudi Aramco vs Galp Energia SGPS S.A.: Fair Value & Quality

Both stocks run through our valuation models. Here is how Saudi Aramco (2222) and Galp Energia SGPS S.A. (GALP) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Galp Energia SGPS S.A. as the less overvalued of the two: Saudi Aramco trades at SAR 25.64 versus a fair value of SAR 20.14 (-21%), while Galp Energia SGPS S.A. trades at €22.45 versus €19.18 (-15%).
Saudi Aramco
2222.SR · SAR · Energy
-21%
upside to fair value
overvalued
PriceSAR 25.64
Fair ValueSAR 20.14
Quality74/100
Galp Energia SGPS S.A.
GALP.LS · EUR · Energy
-15%
upside to fair value
overvalued
Price€22.45
Fair Value€19.18
Quality72/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Saudi AramcoGalp Energia SGPS S.A.
Valuation
16.6×P/E (TTM)17.9×
0.97×P/S (TTM)0.96×
1.11×P/B4.27×
1.9×EV/EBITDA7.3×
4.27×PEG0.95×
−21.5%Fair value upside−14.6%
5.2%Dividend yield3.0%
SAR 1.34Dividend per share€0.68
Profitability
48%Operating margin15%
0.99×EBIT margin trend (5Y)n/a
22%Return on equity16%
19%Return on assets9%
Growth
9%Revenue growth (YoY)5%
-9.7%Avg. growth/yr (3Y)-10.1%
14.2%Avg. growth/yr (5Y)11.4%
+6.2%Value creation/yr+48.0%
Balance & size
66.7×Interest coverage (EBIT/interest)14.5×
0.14×Debt / equity0.70×
$1.7TMarket cap$19B
weakGrowth qualityweak

Saudi Aramco leads: 10 to 4 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Saudi Aramcoof which business quality 70 · market factors 61 Galp Energia SGPS S.A.of which business quality 70 · market factors 80
ProfitabilityMargins and returns on capital today
70
59
Quality GrowthAre margins and returns improving?
26
51
CashflowEarnings quality: real cash, not paper profit
72
72
Fin. StrengthBalance sheet, leverage, solvency risk
82
65
InvestmentDisciplined investing over empire-building
80
97
Low VolatilityCalm price path (market factor)
100
79
MomentumPrice trend over the last 3–12 months (market factor)
42
75
52W MomentumDistance to the 52-week high (market factor)
50
88
Net IssuanceShare count: buybacks or dilution?
82
88

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familySaudi AramcoPrice SAR 25.64Galp Energia SGPS S.A.Price €22.45
DCF Models-22%below the priceSAR 19.97+6%close to the price€23.85
Earnings-Based-26%below the priceSAR 18.95-33%below the price€14.95
Dividend Discount-25%below the priceSAR 19.16-64%below the price€7.99
Multiples-39%below the priceSAR 15.62+10%close to the price€24.63
Asset-Based-84%below the priceSAR 4.13-82%below the price€3.96
Growth DCF-34%below the priceSAR 16.84+18%above the price€26.49
Economic Profit-39%below the priceSAR 15.52-35%below the price€14.63
Growth Earnings-36%below the priceSAR 16.30-23%below the price€17.37
Minimum-84%below the priceSAR 4.13-82%below the price€3.96
Maximum-22%below the priceSAR 19.97+18%above the price€26.49
Median-35%below the priceSAR 16.57-28%below the price€16.16
Geometric mean-43%below the priceSAR 14.53-36%below the price€14.42

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Saudi Aramco: 24 of 25 models see the stock below the current price.

Galp Energia SGPS S.A.: 12 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Saudi Aramco
Price SAR 25.64
Fair Value SAR 20.14
Bear SAR 14.27Bull SAR 27.71
Galp Energia SGPS S.A.
Price €22.45
Fair Value €19.18
Bear €14.28Bull €27.91

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Saudi Aramco · Energy

Quality score74 · Top 25%
Fair value upside-21% · below median

Galp Energia SGPS S.A. · Energy

Quality score72 · Top 25%
Fair value upside-15% · below median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Galp Energia SGPS S.A. as the less overvalued of the two: Saudi Aramco trades at SAR 25.64 versus a fair value of SAR 20.14 (-21%), while Galp Energia SGPS S.A. trades at €22.45 versus €19.18 (-15%).

Saudi Aramco has the higher quality score (74/100).

Open Galp Energia SGPS S.A. live analysis →
Saudi Aramco · Galp Energia SGPS S.A.

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.