Nofoth Food Products Company (2288) Fair Value & Analysis
Consumer Defensive · SA · Market cap 578M SAR
Fair value as of: Aug 13, 2026
From 14 valuation models · updated 3 days ago
Fair value updated Aug 13, 2026, revised from 10.42 SAR to 10.18 SAR (−2.3%) since Jul 31, 2026. Share price −14.9% over the past month.
A solid business, screening 73% undervalued on our models.
What matters now
- The price is below even our cautious bear case (6.08 SAR). The market is more pessimistic than our downside scenario.
- Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (6.08 SAR to 15.24 SAR) leaves room in how you read the outcome.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
43‑month range 3.15 SAR – 13.49 SAR · fair‑value band 6.08 SAR – 15.24 SAR · the 5.88 SAR price screens below the 10.18 SAR fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Nofoth Food Products Company (2288) currently trades at 5.88 SAR, while our model-based Fair Value estimate is 10.18 SAR, implying the stock looks roughly 73.1% undervalued today. The Quality Score stands at 68/100 (solid 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: high), always confirm before acting.
Over the trailing twelve months, Nofoth Food Products Company generated revenue of 425M SAR at a net margin of 12.0%. Revenue declined 4.3% year over year. It earns a return on equity of 28.5%. Net debt stands at 57.1M SAR. Fundamentals as of Aug 13, 2026
Our scenario range runs from 6.08 SAR (bear case) to 15.24 SAR (bull case); at 5.88 SAR, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 53% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -28% fair-value upside, at 73%, 2288 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.
All 14 models by family
Widest divergence: DCF Models (13.37 SAR) versus Asset-Based (1.31 SAR). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 28
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
Nofoth Food Products Company produces and sells bakery products in Saudi Arabia. It offers maamoul cookies and cakes under the Mamola brand; desserts with creamy fillings under the Qashtiya brand; stuffed vegetables, kibbeh, and Musakhan products under the Anaba brand; fried and baked dates stuffed with various flavors and fillings under the Golden Dates …
Full company description
Nofoth Food Products Company produces and sells bakery products in Saudi Arabia. It offers maamoul cookies and cakes under the Mamola brand; desserts with creamy fillings under the Qashtiya brand; stuffed vegetables, kibbeh, and Musakhan products under the Anaba brand; fried and baked dates stuffed with various flavors and fillings under the Golden Dates brand; and pastries and stuffed dishes under the Pinkish Bite brand. The company also provides pie, biscuits, folk and oriental sweets, and sugary sweets, including confectionery, caramel, toffee, and nougat; light transportation services; wholesale and export of used oil; and retail sale of nuts, coffee, spices, and perfumes. In addition, the company operates restaurants and dry fruit stores; engages in automated bread production; food service contracting; and handles road transport of refrigerated and frozen goods. Nofoth Food Products Company was founded in 2015 and is headquartered in Riyadh, Saudi Arabia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Nofoth Food Products Company reported revenue of 430M SAR in FY2025 versus 184M SAR in FY2021, a compound +23.7%/yr. Reported net income was 56.7M SAR in FY2025, compounding +20.6%/yr from FY2021.
Watch 2288: get an alert when its fair value changes →
Peer Group
Grocery Stores · 82 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 Grocery Stores 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.
Similar stocks
10 more Grocery Stores stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Loblaw Companies Limited L | C$62.09 | C$44.44 | -28% |
| Koninklijke Ahold Delhaize N.V AD | €31.87 | €53.50 | +68% |
| The Kroger Co KR | $56.06 | $28.19 | -50% |
| Woolworths Group WOW | A$39.72 | A$8.33 | -79% |
| George Weston Limited WN | C$99.75 | C$147.70 | +48% |
| Coles Group COL | A$23.44 | A$15.86 | -32% |
| Metro Inc MRU | C$89.98 | C$94.01 | +4% |
| Carrefour SA CA | €15.73 | €11.19 | -29% |
| CP ALL Public Company TCPD | 1.85 SGD | 2.36 SGD | +28% |
| BIM Birlesik Magazalar A.S., BIMAS | 385.75 TRY | 267.12 TRY | -31% |
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Frequently asked questions
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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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