Middle East Specialized Cables Co (2370) Fair Value & Analysis
Industrials · SA · Market cap 1.2B SAR
Fair value as of: Aug 13, 2026
From 17 valuation models · updated 3 days ago
Share price −6.2% over the past month.
A solid business, currently priced close to our fair value.
What matters now
- The model range is unusually wide (17.29 SAR to 51.11 SAR). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Price vs Fair Value (5 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
60‑month range 8.38 SAR – 45.05 SAR · fair‑value band 17.29 SAR – 51.11 SAR · the 30.50 SAR price screens above the 28.13 SAR fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Middle East Specialized Cables Co (2370) currently trades at 30.50 SAR, while our model-based Fair Value estimate is 28.13 SAR, implying the stock looks roughly 7.8% fairly valued today. The Quality Score stands at 51/100 (solid quality), in the Industrials 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, Middle East Specialized Cables Co generated revenue of 1.6B SAR at a net margin of 7.2%. Revenue grew 36.4% year over year. It earns a return on equity of 21.9%. Net debt stands at 136M SAR. Fundamentals as of Aug 13, 2026
Our scenario range runs from 17.29 SAR (bear case) to 51.11 SAR (bull case); at 30.50 SAR, the current price sits within 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 13% below its 52-week high and 71% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -65% fair-value upside, at -8%, 2370 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 17 models by family
Widest divergence: Growth Earnings (48.87 SAR) versus Asset-Based (9.02 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 49 · Market factors (momentum, volatility) 57
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
Middle East Specialized Cables Company, together with its subsidiaries, manufactures and sells fiber optic cables, steel insulated wires and cables, copper insulated wires and cables, and aluminum insulated wires and cables in Saudi Arabia and the United Arab Emirates.
Full company description
Middle East Specialized Cables Company, together with its subsidiaries, manufactures and sells fiber optic cables, steel insulated wires and cables, copper insulated wires and cables, and aluminum insulated wires and cables in Saudi Arabia and the United Arab Emirates. The company offers instrumentation and process cables; power and control cables; fieldbus cables; fire cables; solar cables; cathodic protection cables; low current and communication cables; data and signals cables; building wire; flexible cables; irrigation cables; bare copper; and insulation and sheathing polyvinyl chloride compounds for wire and cable insulation and sheathing applications. The company was incorporated in 1992 and is based 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
Middle East Specialized Cables Co reported revenue of 1.5B SAR in FY2025 versus 517M SAR in FY2021, a compound +30.1%/yr. Reported net income was 102M SAR in FY2025.
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Peer Group
Electrical Equipment & Parts · 527 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 Electrical Equipment & Parts 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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Contemporary Amperex Technology Co 3750 | HK$652.50 | HK$394.19 | -40% |
| Delta Electronics (Thailand) Public Company DELTA | 269.00 THB | 40.28 THB | -85% |
| LG Energy Solution, Ltd 373220 | 365,500 KRW | 201,455 KRW | -45% |
| WEG S.A WEGE3 | 14,900 ARS | 4,338 ARS | -71% |
| Sungrow Power Supply Co 300274 | ¥117.53 | ¥123.83 | +5% |
| HD Hyundai Electric Co 267260 | 782,000 KRW | 371,133 KRW | -53% |
| LS ELECTRIC Co 010120 | 208,500 KRW | 29,594 KRW | -86% |
| Hyosung Heavy Industries Corporation 298040 | 2,892,000 KRW | 1,013,099 KRW | -65% |
| Hitachi Energy India Limited POWERINDIA | ₹35,800 | ₹6,106 | -83% |
| Polycab India Limited POLYCAB | ₹9,289 | ₹3,218 | -65% |
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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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