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National Metal Manufacturing Co. (2220) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of National Metal Manufacturing Co. stock SAR 8.37, price SAR 9.58, that is 12.6% below the price, quality 42 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials SA · ISIN SA0007879394

NM National Metal Manufacturing Co. logo Thin data Nov 10, 2026

National Metal Manufacturing Co.

2220 · SR
Expensive, weak quality

Our calculation puts a fair price 13% below what the stock costs today.

Low debt
Quality 42/100
Revenue last quarter 39% below a year ago.
Fair value 8.37 SAR · Overvalued
Weak Growth (revenue 3y −2.3 %/yr in SAR)
Loss-making · -11.0% net margin (TTM)
Negative free cash flow
Trails peers (1/10)
Narrow moat 9/100
Thin data
⟳ CyclicalEstimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

40.18 SAR 8.35 SAR Fair Value 8.37 SAR Aug 2020 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 8.35 SAR – 40.18 SAR · fair‑value band 6.28 SAR – 10.46 SAR · the 9.58 SAR price screens above the 8.37 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

National Metal Manufacturing and Casting Co. manufactures and sells metal engineering products and services in the Kingdom of Saudi Arabia and internationally. The company operates through Transformation Industries, Engineering and Metal Forming Industries, and Industrial Valves segments.

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It manufactures and sells PC strand wire, single wires and spring wires; and assembles axles for trailers and spare parts, as well as engages in metal casting. The company also manufactures high pressure industrial valves.

The company was founded in 1989 and is based in Jubail, the Kingdom of Saudi Arabia.

Stock analysis

National Metal Manufacturing Co. (2220) currently trades at 9.58 SAR, while our estimate is 8.37 SAR, 13% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 6.28 SAR (bear) to 10.46 SAR (bull), the price of 9.58 SAR sits inside 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 42/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

National Metal Manufacturing Co. reported revenue of 240M SAR in FY2025 versus 227M SAR in FY2021, a compound +1.4%/yr. Reported net income was −22.3M SAR in FY2025.

Key figures

Market cap 339M SAR (≈ $90.3M) Micro · P/S ratio 1.65 · EPS (TTM) −0.6000 SAR · Net margin −11.0% · Return on equity −9.3% · Return on assets (EBIT) −5.9% (5-year average) · Operating margin −3.9% · Revenue (TTM) 195M SAR.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 39% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −38% fair-value upside, at −13%, 2220 screens cheaper than that median.

Fair Value

Bear 6.28 SAR Fair Value 8.37 SAR Bull 10.46 SAR
Price 9.58 SAR · Downside -12.6%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 42/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 11
How much profit the company makes from its sales and capital
Quality Growth 53
Are margins and returns getting better?
Cashflow 4
Do the profits arrive as real cash?
Financial strength 57
Debt, balance sheet and risk of trouble
Investment 83
Does it invest with discipline instead of growing at any price?
Low Volatility 79
How calm the share price moves, does not count
Price momentum 11
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 8
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 12/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−1.8%
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.
−2.3%
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.
+3.1%
Start year 2020 (pandemic). Over 10 years: −5.2% 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.
−0.9%
Profit margin (trend) ⓘ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.
−13.0% (2020) → −7.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

2220 screens overvalued: fair value 13% below the price. Compare with Nucor Corporation →

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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 · 419 stocks

Beats the industry median on 0/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Below median
Fair Value upside −12.6% · Below median
Profitability
Return on assets −6.1% · Bottom 25%
Net margin (12 months) −11.0% · Bottom 25%
Operating margin (12 months) −3.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −38.7% · Bottom 25%

Valuation Multiplesvs Steel median · lower = cheaper

P/B 1.50× · Pricier than median
P/S (12 months) 1.74× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)17 · sector 26
FUTURE (revenue growth)0 · sector 36
PAST (return on equity)0 · sector 19
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 53

Context: sector, industry, market

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

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Baoshan Iron & Steel Co 600019 ¥6.18 ¥8.07 +31% vs 2220
POSCO Holdings 005490 271,000 KRW 240,001 KRW −11% vs 2220
Tata Steel Limited TATASTEEL ₹184.85 ₹148.08 −20% vs 2220
JSW Steel Limited JSWSTEEL ₹1,347 ₹1,029 −24% vs 2220
ArcelorMittal S.A MT €58.52 €36.18 −38% vs 2220
Reliance, Inc RS $427.15 $211.54 −50% vs 2220
Nucor Corporation NUE $256.47 $116.49 −55% vs 2220
Jindal Steel Limited JINDALSTEL ₹1,146 ₹516.03 −55% vs 2220
Steel Dynamics, Inc STLD $236.12 $89.54 −62% vs 2220
Inner Mongolia Baotou Steel Union Co 600010 ¥2.00 ¥0.5400 −73% vs 2220

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National Metal Manufacturing Co.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "National Metal Manufacturing Co. Fair Value". https://www.fairvalue-calculator.com/stock/2220

Frequently asked questions

Is National Metal Manufacturing Co. (2220) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 8.37 SAR versus a price of 9.58 SAR, about 13% lower (overvalued).
What is the fair value of 2220?
Our estimate for National Metal Manufacturing Co. is 8.37 SAR (as of Nov 10, 2026), built from audited fundamentals. The current price: 9.58 SAR.
What is the quality score of 2220?
National Metal Manufacturing Co. has a Quality Score of 42/100. 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 National Metal Manufacturing Co. (2220)?
Our calculated price target is the estimate of 8.37 SAR (as of Nov 10, 2026). Cautious scenario 6.28 SAR, optimistic scenario 10.46 SAR. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the National Metal Manufacturing Co. stock forecast for 2026?
Our estimate puts fair value at 8.37 SAR, about 13% lower versus a price of 9.58 SAR (overvalued). Cautious scenario 6.28 SAR, optimistic scenario 10.46 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of National Metal Manufacturing Co. (2220)?
National Metal Manufacturing Co. reported trailing-twelve-month revenue of about 195M SAR (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of National Metal Manufacturing Co. (2220)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For National Metal Manufacturing Co. it is 8.37 SAR per share (as of Nov 10, 2026), against a price of 9.58 SAR.
Is National Metal Manufacturing Co. stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 2220 trades above its calculated fair value: price 9.58 SAR, fair value 8.37 SAR, a gap of about −13% (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 2220?
No. The price is what the market pays today (9.58 SAR); the fair value is what the company's own numbers justify (8.37 SAR). For National Metal Manufacturing Co. the two are 1.21 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is National Metal Manufacturing Co. worth?
The market values National Metal Manufacturing Co. at about 339M SAR (market capitalisation, as of Nov 10, 2026). Per share that is 9.58 SAR; our models calculate a fair value of 8.37 SAR per share.
What do the bullish and bearish scenarios say about 2220?
Our models span a range for National Metal Manufacturing Co.: cautious scenario 6.28 SAR, base 8.37 SAR, optimistic 10.46 SAR per share (as of Nov 10, 2026, price 9.58 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of National Metal Manufacturing Co. (2220)?
Balance-sheet figures for National Metal Manufacturing Co. (as of Nov 10, 2026): return on equity −9.3%. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 2220 from its 52-week high?
National Metal Manufacturing Co. trades at 9.58 SAR, about 39% below its 52-week high of 15.76 SAR and 15% above the low of 8.35 SAR (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 8.37 SAR is for.
Which stocks are comparable to National Metal Manufacturing Co.?
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 National Metal Manufacturing Co. stock attractive at the current price?
The data as of Nov 10, 2026: price 9.58 SAR, calculated fair value 8.37 SAR (−13%), Quality Score 42/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. National Metal Manufacturing Co. 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 National Metal Manufacturing Co. (2220)?
The closing price on Nov 10, 2026 was 9.58 SAR. Our estimate is 8.37 SAR, about 13% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with National Metal Manufacturing Co. right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of National Metal Manufacturing Co.

How large is the market capitalisation of National Metal Manufacturing Co. (2220)?
The market capitalisation of National Metal Manufacturing Co. is 339M SAR (≈ $90.3M). 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 National Metal Manufacturing Co. (2220)?
The price-to-sales ratio of National Metal Manufacturing Co. is 1.65 (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 National Metal Manufacturing Co. (2220)?
Earnings per share at National Metal Manufacturing Co. are −0.6000 SAR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of National Metal Manufacturing Co. (2220)?
The net margin of National Metal Manufacturing Co. is −11.0% (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 National Metal Manufacturing Co. (2220)?
The return on equity (ROE) of National Metal Manufacturing Co. is −9.3% (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 National Metal Manufacturing Co. (2220)?
On an EBIT basis the return on assets of National Metal Manufacturing Co. is −5.9% (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 National Metal Manufacturing Co. (2220)?
The operating margin of National Metal Manufacturing Co. is −3.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at National Metal Manufacturing Co. (2220)?
Revenue at National Metal Manufacturing Co. is growing −38.7% versus a year earlier (3y avg −2.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does National Metal Manufacturing Co. (2220) generate?
The free cash flow of National Metal Manufacturing Co. is −30.2M SAR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does National Metal Manufacturing Co. (2220) carry?
The net debt of National Metal Manufacturing Co. is 25.3M SAR (fiscal year 2025). 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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