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Alinma Bank (1150) Fair Value & Analysis

Financial Services · SA · Market cap 72.1B SAR

AB Alinma Bank 1150 · SR
Price24.05 SAR
Fair Value27.72 SAR
Upside+15.3%
Quality37/100
Expensive Growth
Highly profitable · 59.0% net margin
negative free cash flow
Ranks above peers (8/12)
Wide moat 73/100
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Evidence: High Range 20.79 SAR – 34.65 SAR Share as image

Fair value as of: Aug 4, 2026

From 17 valuation models · updated today

Share price −0.6% over the past month.

Below-average quality, screening 15% undervalued on our models.

What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from 20.79 SAR (bear) to 34.65 SAR (bull), base 27.72 SAR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 37/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

977,915 SAR 10.00 SAR Fair Value 27.72 SAR Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 4, 2026.

How to read this chart

60‑month range 10.00 SAR – 977,915 SAR · fair‑value band 20.79 SAR – 34.65 SAR · the 24.05 SAR price screens below the 27.72 SAR fair value. Dashed = 300-day average. As of Aug 4, 2026.

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Analysis

Alinma Bank (1150) currently trades at 24.05 SAR, while our model-based Fair Value estimate is 27.72 SAR, implying the stock looks roughly 15.3% undervalued today. We read business quality at 37/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Alinma Bank generated revenue of 11.2B SAR at a net margin of 59.0%. Revenue grew 2.4% year over year. It earns a return on equity of 13.9%. Net debt stands at 110B SAR. Fundamentals as of Aug 4, 2026

Our scenario range runs from 20.79 SAR (bear case) to 34.65 SAR (bull case); at 24.05 SAR, the current price sits within that range. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 15%, 1150 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income 15.41 SAR 18.81 SAR 39.58 SAR 76
Gordon GGM 9.13 SAR 18.99 SAR 30.13 SAR 70
Growth-Adj P/E 31.51 SAR 45.02 SAR 58.52 SAR 68
All 17 models by family
DCF Models
Owner Earnings 30.38 SAR 54.92 SAR 100.78 SAR 31
Earnings-Based
Graham-Dodd 14.50 SAR 79.86 SAR 110.81 SAR 54
Lynch FV 22.24 SAR 31.77 SAR 41.30 SAR 50
PEG = 1.0 22.24 SAR 31.77 SAR 41.30 SAR 46
EPV 25.44 SAR 28.83 SAR 31.79 SAR 59
Dividend Discount
Gordon GGM 9.13 SAR 18.99 SAR 30.13 SAR 70
DDM Multi-Stage 9.13 SAR 16.02 SAR 19.93 SAR 61
Multiples
P/E Multiple 31.99 SAR 42.65 SAR 53.31 SAR 63
P/S Multiple 7.40 SAR 9.87 SAR 12.33 SAR 58
P/B Multiple 27.19 SAR 36.25 SAR 45.31 SAR 55
EV/EBIT 37.20 SAR 47.89 SAR 58.58 SAR 53
EV/EBITDA 29.70 SAR 37.88 SAR 46.07 SAR 54
EV/Revenue 12.04 SAR 15.00 SAR 17.96 SAR 43
Asset-Based
NCAV (Graham) 8.04 SAR 10.77 SAR 16.08 SAR 50
Economic Profit
Residual Income 15.41 SAR 18.81 SAR 39.58 SAR 76
ROIC Compounder 28.95 SAR 38.33 SAR 51.01 SAR 67
Growth Earnings
Growth-Adj P/E 31.51 SAR 45.02 SAR 58.52 SAR 68

Widest divergence: DCF Models (54.92 SAR) versus Asset-Based (10.77 SAR). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 11.2B SAR
Revenue growth (YoY) +2.4%
Net margin 59.0%
Return on equity 13.9%
Free cash flow −3.5B SAR FY2025
P/E ratio 12.1
More key figures
Operating margin 65.2%
EPS (TTM) 1.99 SAR
EPS growth (YoY) -2.0%
Net debt 110B SAR FY2025

Figures from reported company fundamentals · as of Aug 4, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 27 · Market factors (momentum, volatility) 42

Profitability 38
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Alinma Bank provides banking and investment services in the Kingdom of Saudi Arabia. It operates through Retail Banking, Corporate Banking, Treasury, and Investment and Brokerage segments.

Full company description

Alinma Bank provides banking and investment services in the Kingdom of Saudi Arabia. It operates through Retail Banking, Corporate Banking, Treasury, and Investment and Brokerage segments. The company provides various banking services, including current, education, and family accounts; self-service banking services; debit, credit, traveler, purchase, and prepaid cards; point of sale services; car, real estate, personal, and education financing, as well as SME, kafalah program, business payroll, assets, business invoices, and receivables financing; and bill payment services. It also offers treasury, letters of guarantee, documentary collection, import and export letters of credit, and guarantee verification services; cash management services; corporate partner services; financing and investment products; financial services; and payroll management and e-payment gateway services. In addition, the company provides investment management, asset management, custodianship, advisory, underwriting, and brokerage services; and operates as an insurance agent. Further, it offers digital banking services. The company provides its services to individuals, corporates, SMEs, and institutional customers. Alinma Bank was founded in 2006 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Alinma Bank reported revenue of 11.8B SAR in FY2025 versus 6.7B SAR in FY2021, a compound +15.5%/yr. Reported net income was 6.4B SAR in FY2025, compounding +24.0%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
11.8B SAR
Latest YoY
+8.3%
Avg. growth/yr (3Y)
+14.1%
Avg. growth/yr (5Y)
+15.8%
Avg. growth/yr (17Y)
+18.3%
Revenue +15.5%/yr
FY21 6.7B SAR
FY22 8.0B SAR
FY23 9.7B SAR
FY24 10.9B SAR
FY25 11.8B SAR
Net income +24.0%/yr
FY21 2.7B SAR
FY22 3.6B SAR
FY23 4.8B SAR
FY24 5.8B SAR
FY25 6.4B SAR

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Cite: Fair Value Calculator (2026). "Alinma Bank Fair Value". https://www.fairvalue-calculator.com/stock/1150

Peer Group

Banks - Regional · 1100 stocks

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.

Quality Score 36 · Bottom 25%
Fair Value upside +15% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 2% · Top 25%
Net margin (TTM) 59% · Top 25%
Operating margin (TTM) 65% · Top 25%
Revenue growth 2% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 12.1× · Pricier than median
P/B 0.40× · Cheaper than 75% of peers
P/S (TTM) 1.72× · Cheaper than 75% of peers
EV/EBITDA 0.5× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 54 · sector 39
FUTURE 12 · sector 43
PAST 56 · sector 41
HEALTH 0 · sector 85
DIVIDEND 0 · sector 49

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 4, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is Alinma Bank (1150) overvalued or undervalued?
As of Aug 4, 2026, our model estimates a fair value of 27.72 SAR versus a price of 24.05 SAR, about +15% (undervalued).
What is the fair value of 1150?
Our model-based fair value for Alinma Bank is 27.72 SAR (as of Aug 4, 2026), built from audited fundamentals. The current price is 24.05 SAR.
What is the quality score of 1150?
Alinma Bank has a Quality Score of 37/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Alinma Bank (1150)?
Alinma Bank reported trailing-twelve-month revenue of about 11.2B SAR (latest available figure, as of Aug 4, 2026).
What is the net profit margin of 1150?
The net profit margin of Alinma Bank is about 59.0%, meaning it keeps roughly 59.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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