National Industrialization Company (2060) Fair Value & Analysis
Basic Materials · SA · Market cap 5.7B SAR
Fair value as of: Jul 31, 2026
From 4 valuation models · updated today
Share price −6.0% over the past month.
What matters now
- The large discount to fair value meets weak quality (33/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (10.15 SAR). The market is more pessimistic than our downside scenario.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range (10.15 SAR to 20.30 SAR) leaves room in how you read the outcome.
Price vs Fair Value (12 months)
12‑month range 8.21 SAR – 11.84 SAR · fair‑value band 10.15 SAR – 20.30 SAR · the 8.50 SAR price screens below the 13.60 SAR fair value. As of Jul 31, 2026.
✦ Which stocks are undervalued right now? Check free Discover now →Analysis
National Industrialization Company (2060) currently trades at 8.50 SAR, while our model-based Fair Value estimate is 13.60 SAR, implying the stock looks roughly 60.0% undervalued today. We read business quality at 33/100 (below-average quality), in the Basic Materials 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: low), always confirm before acting.
Trailing-twelve-month revenue stands at 2.3B SAR. Revenue declined 23.6% year over year. It earns a return on equity of -32.4%. Net debt stands at 3.5B SAR. Fundamentals as of Jul 31, 2026
Our scenario range runs from 10.15 SAR (bear case) to 20.30 SAR (bull case); at 8.50 SAR, the current price sits below that range. The share trades about 29% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -57% fair-value upside, at 60%, 2060 screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
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
National Industrialization Company operates in the petrochemicals, chemicals, metals, wires, and industrial and automotive batteries sectors in the Kingdom of Saudi Arabia, rest of the Middle East, Asia, Africa, Europe, and internationally. It operates through three segments: Metallurgy, Petrochemicals, and Downstream & Others.
Full company description
National Industrialization Company operates in the petrochemicals, chemicals, metals, wires, and industrial and automotive batteries sectors in the Kingdom of Saudi Arabia, rest of the Middle East, Asia, Africa, Europe, and internationally. It operates through three segments: Metallurgy, Petrochemicals, and Downstream & Others. The company offers acetic acid, butanol liquid fuel, butyl acrylate, glacial acrylic acid, iso-butanol, and normal butanol; high- and low-density polyethylene; polyethylene and polypropylene compound; pyrolysis oil; and superabsorbent polymer. It also provides BOPP films, car batteries, HDPE pipes, plastic pallets, agrifilm, plastic sheets, geomembrane liners, battery cases and covers, plastic paint pails, reprocessed resins, and lead, as well as technical inspection, HSE, auditing and certification, management and technical training, calibration, food testing, and product certification services. In addition, the company offers titanium sponge, titanium slag and sulphate fines, and pig iron. Further, it provides application development, analytical labs, technical support and training, and certifications and accreditations services, as well as engages in production of liquid batteries for cars and lead and sodium sulphate. The company was founded in 1984 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
National Industrialization Company reported revenue of 2.5B SAR in FY2025 versus 3.7B SAR in FY2021, a compound −9.3%/yr. Reported net income was −1.8B SAR in FY2025.
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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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | €443.00 | €109.98 | -75% |
| BASF SE BASN | 1,034 MXN | 23.76 MXN | -98% |
| Saudi Basic Industries Corporation 2010 | 49.60 SAR | 18.13 SAR | -63% |
| Ningxia Baofeng Energy Group 600989 | ¥21.72 | ¥42.42 | +95% |
| Dow Inc D1OW34 | R$41.12 | R$16.66 | -59% |
| Zhejiang Juhua Co 600160 | ¥48.53 | ¥20.70 | -57% |
| Rongsheng Petrochemical Co 002493 | ¥11.43 | ¥2.90 | -75% |
| PT Barito Pacific Tbk, BRPT | 1,675 IDR | 1,616 IDR | -4% |
| LG Chem, Ltd 051910 | 349,000 KRW | 976,002 KRW | +180% |
| Formosa Chemicals & Fibre Corporation 1326 | 57.70 TWD | 39.62 TWD | -31% |
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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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