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Saudi Paper Manufacturing Company (2300) Fair Value & Analysis

Basic Materials · SA · Market cap 2.5B SAR

SP Saudi Paper Manufacturing Company 2300 · SR
Price69.00 SAR
Fair Value27.54 SAR
Upside-60.1%
Quality48/100
Expensive Growth
Thin margins · 9.2% net margin
Low debt · negative free cash flow
0.78% dividend yield
Mixed vs. peers (7/13)
Moderate moat 51/100
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Evidence: High Range 19.27 SAR – 35.80 SAR Share as image

Fair value as of: Jul 31, 2026

From 15 valuation models · updated today

Share price +22.6% over the past month.

What matters now

  • The price sits above even our optimistic bull case (35.80 SAR). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (19.27 SAR to 35.80 SAR) leaves room in how you read the outcome.

Price vs Fair Value (12 months)

69.00 SAR 48.08 SAR Fair Value 27.54 SAR Aug 2025 Jul 2026

12‑month range 48.08 SAR – 69.00 SAR · fair‑value band 19.27 SAR – 35.80 SAR · the 69.00 SAR price screens above the 27.54 SAR fair value. As of Jul 31, 2026.

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Analysis

Saudi Paper Manufacturing Company (2300) currently trades at 69.00 SAR, while our model-based Fair Value estimate is 27.54 SAR, implying the stock looks roughly 60.1% overvalued today. We read business quality at 48/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Saudi Paper Manufacturing Company generated revenue of 873M SAR at a net margin of 9.2%. Revenue grew 10.0% year over year. It earns a return on equity of 13.0%. Net debt stands at 528M SAR. Fundamentals as of Jul 31, 2026

Our scenario range runs from 19.27 SAR (bear case) to 35.80 SAR (bull case); at 69.00 SAR, the current price sits above that range. The share trades about 1% below its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 19% fair-value upside, at -60%, 2300 screens richer than that median.

Key figures & financial health

Revenue (TTM) 873M SAR
Revenue growth (YoY) +10.0%
Net margin 9.2%
Return on equity 13.0%
Free cash flow −47.2M SAR FY2025
P/E ratio 34.1
More key figures
Operating margin 16.9%
EPS (TTM) 2.00 SAR
Dividend yield 0.8%
EPS growth (YoY) +65.1%
Net debt 528M SAR FY2025

Figures from reported company fundamentals · as of Jul 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100
Profitability 39
Quality Growth 26
Cashflow 19
Fin. Strength 47
Investment 42
Low Volatility 78
Momentum 57
52W Momentum 80
Net Issuance 40

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

Saudi Paper Manufacturing Company, together with its subsidiaries, engages in the purchase, manufacture, and distribution of paper pulp and tissue paper products in the Kingdom of Saudi Arabia, the Gulf Cooperation Council countries, and internationally. It operates in Manufacturing; and Trading and Others segments.

Full company description

Saudi Paper Manufacturing Company, together with its subsidiaries, engages in the purchase, manufacture, and distribution of paper pulp and tissue paper products in the Kingdom of Saudi Arabia, the Gulf Cooperation Council countries, and internationally. It operates in Manufacturing; and Trading and Others segments. The company offers facial tissues, kitchen towels, maxi rolls, toilet paper, interfold towels, table napkins, interfolds, underpads, pocket tissues, napkins, and industrial tissue products under the Mouchoir, Excellence, City, SPC Pro, and Jumbo Roll brands. It is also involved in the collection, sorting, pressing, and transportation of wastepaper; destruction and shredding of archives and confidential documents; sorting and classifying; packaging; and environmental protection services. Saudi Paper Manufacturing Company was founded in 1989 and is based in Dammam, the Kingdom of Saudi Arabia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Saudi Paper Manufacturing Company reported revenue of 850M SAR in FY2025 versus 589M SAR in FY2021, a compound +9.6%/yr. Reported net income was 60.5M SAR in FY2025, compounding +18.9%/yr from FY2021.

Revenue +9.6%/yr
FY21 589M SAR
FY22 692M SAR
FY23 811M SAR
FY24 837M SAR
FY25 850M SAR
Net income +18.9%/yr
FY21 30.3M SAR
FY22 46.9M SAR
FY23 72.9M SAR
FY24 83.2M SAR
FY25 60.5M SAR

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Cite: Fair Value Calculator (2026). "Saudi Paper Manufacturing Company Fair Value". https://www.fairvalue-calculator.com/stock/2300

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 0 / 26
FUTURE 50 / 8
PAST 52 / 13
HEALTH 84 / 91
DIVIDEND 16 / 43

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$16.86 R$2.95 -83%
UPM-Kymmene Oyj UPMKF $29.33 $17.60 -40%
Suzano S.A SUZB3 R$42.04 R$137.84 +228%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAA kr 101.50 kr 45.12 -56%
Shandong Sunpaper Co 002078 ¥12.75 ¥17.29 +36%
Holmen AB HLMMF $35.72 $28.52 -20%
Mondi plc MNODF $9.70 $9.16 -6%
Oji Holdings OJIPY $55.39 $66.13 +19%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.04 HK$8.99 +28%
Empresas CMPC S.A CMPC 1,043 CLP 1,263 CLP +21%

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Frequently asked questions

Is Saudi Paper Manufacturing Company (2300) overvalued or undervalued?
As of Jul 31, 2026, our model estimates a fair value of 27.54 SAR versus a price of 69.00 SAR, about −60% (overvalued).
What is the fair value of 2300?
Our model-based fair value for Saudi Paper Manufacturing Company is 27.54 SAR (as of Jul 31, 2026), built from audited fundamentals. The current price is 69.00 SAR.
What is the quality score of 2300?
Saudi Paper Manufacturing Company has a Quality Score of 48/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Saudi Paper Manufacturing Company (2300)?
Saudi Paper Manufacturing Company reported trailing-twelve-month revenue of about 873M SAR (latest available figure, as of Jul 31, 2026).
What is the net profit margin of 2300?
The net profit margin of Saudi Paper Manufacturing Company is about 9.2%, meaning it keeps roughly 9.2% of revenue as net income. Based on the latest reported figures.
Does Saudi Paper Manufacturing Company pay a dividend?
Saudi Paper Manufacturing Company currently shows a dividend yield of about 0.78% relative to its recent price (as of Jul 31, 2026).

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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