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STOCK COMPARISON

Saudi Aramco Base Oil Company - Luberef vs Reliance Industries: Fair Value & Quality

Both stocks run through our valuation models. Here is how Saudi Aramco Base Oil Company - Luberef (2223) and Reliance Industries (RELIANCE) compare, as of Oct 1, 2026.

As of Oct 1, 2026, Fair Value Calculator sees Reliance Industries as the less overvalued of the two: Saudi Aramco Base Oil Company - Luberef trades at SAR 128 versus a fair value of SAR 58.54 (−54.2%), while Reliance Industries trades at ₹1,187 versus ₹865 (−27.1%).
Saudi Aramco Base Oil Company - Luberef
2223.SR · SAR · Energy
−54.2%
upside to fair value
overvalued
PriceSAR 128
Fair ValueSAR 58.54
Quality71/100
Reliance Industries
RELIANCE.NSE · INR · Energy
−27.1%
upside to fair value
overvalued
Price₹1,187
Fair Value₹865
Quality50/100
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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 Aramco Base Oil Company - LuberefReliance Industries
Valuation
15.6×P/E (TTM)22.1×
11.9×Forward P/E16.6×
2.31×P/S (TTM)1.42×
4.69×P/B1.79×
12.5×EV/EBITDA9.6×
n/aPEG0.82×
−54.2%Fair value upside−27.1%
5.9%Dividend yield0.5%
SAR 7.50Dividend per share₹6.00
Profitability
21.9%Operating margin12.3%
2.44×EBIT margin trend (5Y)0.99×
29.7%Return on equity9.1%
10.4%Return on assets3.7%
Growth
52.0%Revenue growth (YoY)29.7%
4.3%Avg. growth/yr (3Y)6.4%
20.6%Avg. growth/yr (5Y)17.8%
+7.5%Value creation/yr+10.2%
Balance & size
14.3×Interest coverage (EBIT/interest)4.5×
0.14×Debt / equity0.30×
$6BMarket cap$168B
healthyGrowth qualityhealthy
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Saudi Aramco Base Oil Company - Luberef leads: 8 to 6 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 Aramco Base Oil Company - Luberefof which business quality 68 · market factors 78 Reliance Industriesof which business quality 50 · market factors 44
ProfitabilityMargins and returns on capital today
59
34
Quality GrowthAre margins and returns improving?
31
45
CashflowEarnings quality: real cash, not paper profit
66
49
Fin. StrengthBalance sheet, leverage, solvency risk
78
47
InvestmentDisciplined investing over empire-building
94
51
Low VolatilityCalm price path (market factor)
82
94
MomentumPrice trend over the last 3–12 months (market factor)
72
32
52W MomentumDistance to the 52-week high (market factor)
81
10
Net IssuanceShare count: buybacks or dilution?
82
82

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 Aramco Base Oil Company - LuberefPrice SAR 128Reliance IndustriesPrice ₹1,187
DCF Models−43.7%below the priceSAR 71.84−19.0%below the price₹961
Earnings-Based−59.2%below the priceSAR 52.13−42.3%below the price₹685
Dividend Discount−58.0%below the priceSAR 53.60−91.8%below the price₹96.77
Multiples−55.9%below the priceSAR 56.36−29.2%below the price₹840
Asset-Based−85.7%below the priceSAR 18.25−62.5%below the price₹445
Growth DCF−35.8%below the priceSAR 82.01−9.6%close to the price₹1,073
Economic Profit−63.3%below the priceSAR 46.91−44.8%below the price₹655
Growth Earnings−54.2%below the priceSAR 58.54−23.8%below the price₹904
Minimum−85.7%below the priceSAR 18.25−91.8%below the price₹96.77
Maximum−35.8%below the priceSAR 82.01−9.6%close to the price₹1,073
Median−56.9%below the priceSAR 54.98−35.7%below the price₹763
Geometric mean−60.0%below the priceSAR 51.10−50.1%below the price₹592

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 Base Oil Company - Luberef: 25 of 25 models see the stock below the current price.

Reliance Industries: 25 of 26 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 Base Oil Company - Luberef
Price SAR 128
Fair Value SAR 58.54
Bear SAR 39.89Bull SAR 76.10
Reliance Industries
Price ₹1,187
Fair Value ₹865
Bear ₹489Bull ₹1,176

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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 Base Oil Company - Luberef · Energy

Quality score71 · Top 25%
Fair value upside−54.2% · bottom 25%

Reliance Industries · Energy

Quality score50 · above median
Fair value upside−27.1% · below median

Bottom line

As of Oct 1, 2026, Fair Value Calculator sees Reliance Industries as the less overvalued of the two: Saudi Aramco Base Oil Company - Luberef trades at SAR 128 versus a fair value of SAR 58.54 (−54.2%), while Reliance Industries trades at ₹1,187 versus ₹865 (−27.1%).

Saudi Aramco Base Oil Company - Luberef has the higher quality score (71/100).

Open Reliance Industries live analysis →

More comparisons

Popular match-ups from the same sectors, all with fair value and quality score.

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