Tanmiah Food Company (2281) Fair Value & Analysis

Consumer Defensive · SA · Market cap 1.1B SAR

Below-average quality, screening 91% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (27/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case (59.51 SAR). The market is more pessimistic than our downside scenario.
• The model range is unusually wide (59.51 SAR to 154.88 SAR). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.

How to read this chart

56‑month range 46.66 SAR – 137.02 SAR · fair‑value band 59.51 SAR – 154.88 SAR · the 56.20 SAR price screens below the 107.20 SAR fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Tanmiah Food Company (2281) currently trades at 56.20 SAR, while our model-based Fair Value estimate is 107.20 SAR, implying the stock looks roughly 90.8% undervalued today. We read business quality at 27/100 (below-average quality), in the Consumer Defensive 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: medium), always confirm before acting.

Over the trailing twelve months, Tanmiah Food Company generated revenue of 2.7B SAR at a net margin of -1.4%. Revenue grew 8.0% year over year. It earns a return on equity of -4.9%. Net debt stands at 1.7B SAR. Fundamentals as of Aug 5, 2026

Our scenario range runs from 59.51 SAR (bear case) to 154.88 SAR (bull case); at 56.20 SAR, the current price sits below that range. The share trades about 40% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 91%, 2281 screens cheaper 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.

Widest divergence: Multiples (107.20 SAR) versus Earnings-Based (15.14 SAR). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Quality Score breakdown

About the company

Tanmiah Food Company, together with its subsidiaries, engages in food and agriculture business in the Kingdom of Saudi Arabia, the Kingdom of Bahrain, and Other GCC countries. It operates through Poultry, Food, and Agriculture; and Restaurant Outlets segments.

Full company description

Tanmiah Food Company, together with its subsidiaries, engages in food and agriculture business in the Kingdom of Saudi Arabia, the Kingdom of Bahrain, and Other GCC countries. It operates through Poultry, Food, and Agriculture; and Restaurant Outlets segments. The company offers fresh and frozen poultry; ready-to-cook; added value products; and deli meat products. It is also involved in the manufacturing, wholesale, and retail trading in foodstuff; preparation of animal and poultry feeds for commercial; construction of poultry farms; retail and wholesale trading in poultry equipment; and operation of restaurant outlets with related services. In addition, the company engages in wholesale trading of poultry products and agricultural produce; retail and wholesale trading in machines and equipment in the field of animal care, animal shelter, animal feed, chicks and hatching eggs, veterinary lab equipment, and medicines, as well as marketing, and import and export of related products; general trading activities; and cafeterias and fast-food activities, as well as develops and operates poultry breeding facilities, including the establishment of a greenfield hatchery. It also offers its products online. The company was formerly known as Tanmiah Foods Trading Company and changed its name to Tanmiah Food Company in May 2019. The Company was founded in 1962 and is headquartered in Riyadh, Saudi Arabia. Tanmiah Food Company is a subsidiary of Al Dabbagh Group Holding Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tanmiah Food Company reported revenue of 2.7B SAR in FY2025 versus 1.2B SAR in FY2021, a compound +21.7%/yr. Reported net income was −18.8M SAR in FY2025.

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Peer Group

Packaged Foods · 672 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.

Valuation Multiples vs Packaged Foods median · lower = cheaper

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.

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Frequently asked questions

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.