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Data-driven stock valuation

Rabigh Refining & Petrochemical Co (2380) fair value: what the stock is really worth

As of Nov 8, 2026: fair value (intrinsic value) of Rabigh Refining & Petrochemical Co stock SAR 5.19, price SAR 14.33, that is 63.8% below the price, quality 27 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Energy SA · ISIN SA120GAH5617

RR Rabigh Refining & Petrochemical Co logo Thin data Nov 8, 2026

Rabigh Refining & Petrochemical Co

2380 · SR
Very expensive, weak quality

Our calculation puts a fair price 64% below what the stock costs today.

Generates free cash flow over the last twelve months
Profit last quarter +93% vs. a year ago.
Thin margins · 4.2% net margin (TTM)
Moderate debt
Fair value 5.19 SAR · Strongly overvalued
Quality 27/100
Weak Growth (revenue 3y −14.5 %/yr in SAR)
Trails peers (4/12)
Narrow moat 36/100
Thin data
⟳ Cyclical

Risks from the AI analysis

🚩Dependence on Aramco feedstock🚩Red Sea shipping disruptions
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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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

23.75 SAR 6.46 SAR Fair Value 5.19 SAR Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range 6.46 SAR – 23.75 SAR · fair‑value band 3.87 SAR – 7.74 SAR · the 14.33 SAR price screens above the 5.19 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.

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Company profile

Rabigh Refining and Petrochemical Company engages in the development, construction, and operation of an integrated refining and petrochemical complex in the Middle East, the Asia Pacific, and internationally. The company operates in Refined Products and Petrochemicals segments.

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It offers polymers, such as high-density polyethylene, polypropylene homo polymer, block copolymer polypropylene, linear low-density polyethylene, ethylene vinyl acetate, ethylene propylene diene rubber, termo plastic olefin, poly methyl methacrylate, and polyamide 6. The company also provides mono ethylene glycol, propylene oxide, methyl methacrylate, phenol, acetone, para xylene, and benzen monomer related products.

In addition, it offers fuel oil, diesel, gasoline, kerosene, light naphtha, and liquefied petroleum gas.

Its products are used in various end products, such as plastics, detergents, lubricants, resins, coolants, anti-freeze, paint, carpets, rope, clothing, shampoo, auto interiors, epoxy glue, insulation, film, fibers, household appliances, packaging, candles, pipes, and other applications.

The company was incorporated in 2005 and is headquartered in Rabigh, the Kingdom of Saudi Arabia. As of October 9, 2025 Rabigh Refining and Petrochemical Company is a subsidiary of Saudi Arabian Oil Company.

Stock analysis

Rabigh Refining & Petrochemical Co (2380) currently trades at 14.33 SAR, while our model-based Fair Value estimate is 5.19 SAR, 64% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the data coverage at low.

Scenario range: 3.87 SAR (bear) to 7.74 SAR (bull), the price of 14.33 SAR sits above 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 27/100 (below-average quality), in the Energy sector.

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

Rabigh Refining & Petrochemical Co reported revenue of 35.0B SAR in FY2025 versus 45.6B SAR in FY2021, a compound −6.4%/yr. Reported net income was −3.9B SAR in FY2025.

Key figures

Market cap 36.1B SAR (≈ $9.6B) Mid · P/E ratio 12.0 · P/S ratio 0.66 · EPS (TTM) 1.37 SAR · Net margin 4.2% · Return on equity 17.1% · Return on assets (EBIT) −1.6% (5-year average) · Operating margin 14.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (medium confidence).

What moves the price

The share trades about 22% below its 52-week high and 122% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Energy peers we cover trades at −46% fair-value upside, at −64%, 2380 screens richer than that median.

Fair Value models

Bear 3.87 SAR Fair Value 5.19 SAR Bull 7.74 SAR
Price 14.33 SAR · Downside -63.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.17 SAR per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) 3.87 SAR 5.19 SAR 7.74 SAR 54
All 1 models by family
Asset-Based
NCAV (Graham) 3.87 SAR 5.19 SAR 7.74 SAR 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 27/100

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

Profitability 8
How much profit the company makes from its sales and capital
Quality Growth 32
Are margins and returns getting better?
Cashflow 11
Do the profits arrive as real cash?
Financial strength 16
Debt, balance sheet and risk of trouble
Investment 84
Does it invest with discipline instead of growing at any price?
Low Volatility 63
How calm the share price moves, does not count
Price momentum 59
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 81
Distance to the 52-week high, does not count
New shares 49
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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−11.0%
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.
−14.5%
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.
+9.9%
Start year 2020 (pandemic). Over 10 years: +3.2% 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.
+37.3%
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.
−10.3% (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

2380 screens overvalued: fair value 64% below the price. Compare with Reliance Industries Limited →

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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.Oil & Gas Refining & Marketing · 115 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside −63.8% · Bottom 25%
Profitability
Return on equity (12 months) 17.1% · Above median
Return on assets −6.7% · Bottom 25%
Net margin (12 months) 4.2% · Above median
Operating margin (12 months) 14.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 416.0% · Top 25%
Balance sheet
Debt / equity 1.07× · Highest 25%

Valuation Multiplesvs Oil & Gas Refining & Marketing median · lower = cheaper

P/E (12 months) 12.0× · Pricier than median
P/B 2.77× · Priciest 25%
P/S (12 months) 0.66× · Pricier than median
EV/EBITDA 8.3× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 30
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)68 · sector 48
HEALTH (low debt)46 · sector 85
DIVIDEND (yield)0 · sector 65

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Indian Oil Corporation IOC ₹146.25 ₹245.43 +68% vs 2380
Bharat Petroleum Corporation BPCL ₹319.90 ₹434.58 +36% vs 2380
SK Innovation Co 096770 109,400 KRW 134,361 KRW +23% vs 2380
Reliance Industries Limited RELIANCE ₹1,320 ₹865.31 −34% vs 2380
HF Sinclair Corporation DINO $97.18 $52.92 −46% vs 2380
Neste Oyj NESTE €27.45 €11.70 −57% vs 2380
Formosa Petrochemical Corporation 6505 88.40 TWD 35.53 TWD −60% vs 2380
Valero Energy Corporation VLO $346.45 $131.30 −62% vs 2380
Phillips 66 PSX $245.72 $86.38 −65% vs 2380
Marathon Petroleum Corporation MPC $372.74 $113.66 −70% vs 2380

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Rabigh Refining & Petrochemical Co: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Rabigh Refining & Petrochemical Co Fair Value". https://www.fairvalue-calculator.com/stock/2380

Frequently asked questions

Is Rabigh Refining & Petrochemical Co (2380) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 5.19 SAR versus a price of 14.33 SAR, about 64% lower (overvalued).
What is the fair value of 2380?
Our model-based fair value for Rabigh Refining & Petrochemical Co is 5.19 SAR (as of Nov 8, 2026), built from audited fundamentals. The current price: 14.33 SAR.
What is the quality score of 2380?
Rabigh Refining & Petrochemical Co has a Quality Score of 27/100. 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 Rabigh Refining & Petrochemical Co (2380)?
Our model-based price target is the fair value of 5.19 SAR (as of Nov 8, 2026) from 1 valuation models. Cautious scenario 3.87 SAR, optimistic scenario 7.74 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Rabigh Refining & Petrochemical Co stock forecast for 2026?
Our models put fair value at 5.19 SAR, about 64% lower versus a price of 14.33 SAR (overvalued). Cautious scenario 3.87 SAR, optimistic scenario 7.74 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Rabigh Refining & Petrochemical Co (2380)?
Rabigh Refining & Petrochemical Co reported trailing-twelve-month revenue of about 55.1B SAR (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Rabigh Refining & Petrochemical Co (2380)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Rabigh Refining & Petrochemical Co it is 5.19 SAR per share (as of Nov 8, 2026), against a price of 14.33 SAR. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Rabigh Refining & Petrochemical Co stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 2380 trades above its calculated fair value: price 14.33 SAR, fair value 5.19 SAR, a gap of about −64% (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 2380?
No. The price is what the market pays today (14.33 SAR); the fair value is what the company's own numbers justify (5.19 SAR). For Rabigh Refining & Petrochemical Co the two are 9.14 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Rabigh Refining & Petrochemical Co worth?
The market values Rabigh Refining & Petrochemical Co at about 36.1B SAR (market capitalisation, as of Nov 8, 2026). Per share that is 14.33 SAR; our models calculate a fair value of 5.19 SAR per share.
What do the bullish and bearish scenarios say about 2380?
Our models span a range for Rabigh Refining & Petrochemical Co: cautious scenario 3.87 SAR, base 5.19 SAR, optimistic 7.74 SAR per share (as of Nov 8, 2026, price 14.33 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2380?
Rabigh Refining & Petrochemical Co trades at a price-to-earnings ratio of 12.0 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 5.19 SAR is built from several models across several years. Other multiples: P/B 2.8, P/S 0.7, EV/EBITDA 8.3.
How solid is the balance sheet of Rabigh Refining & Petrochemical Co (2380)?
Balance-sheet figures for Rabigh Refining & Petrochemical Co (as of Nov 8, 2026): return on equity 17.1%, debt of 1.07 per unit of equity. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is 2380 from its 52-week high?
Rabigh Refining & Petrochemical Co trades at 14.33 SAR, about 22% below its 52-week high of 18.47 SAR and 122% above the low of 6.46 SAR (as of Nov 8, 2026). Distance from the high says nothing about value: that is what the fair value of 5.19 SAR is for.
Which stocks are comparable to Rabigh Refining & Petrochemical Co?
From the same area (Energy) we also value Reliance Industries Limited, Valero Energy Corporation, Phillips 66, Marathon Petroleum Corporation, 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 Rabigh Refining & Petrochemical Co stock attractive at the current price?
The data as of Nov 8, 2026: price 14.33 SAR, calculated fair value 5.19 SAR (−64%), Quality Score 27/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2380 calculated?
We run Rabigh Refining & Petrochemical Co through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 5.19 SAR builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Rabigh Refining & Petrochemical 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 Rabigh Refining & Petrochemical Co (2380)?
The closing price on Nov 8, 2026 was 14.33 SAR. Our model-based fair value is 5.19 SAR, about 64% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Rabigh Refining & Petrochemical Co right now?
The price sits above even our optimistic bull case (7.74 SAR). The favourable scenario is already priced in. Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (3.87 SAR to 7.74 SAR) leaves room in how you read the outcome.

Key figures of Rabigh Refining & Petrochemical Co

How large is the market capitalisation of Rabigh Refining & Petrochemical Co (2380)?
The market capitalisation of Rabigh Refining & Petrochemical Co is 36.1B SAR (≈ $9.6B). 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 Rabigh Refining & Petrochemical Co (2380)?
The price-to-sales ratio of Rabigh Refining & Petrochemical Co is 0.66 (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 Rabigh Refining & Petrochemical Co (2380)?
Earnings per share at Rabigh Refining & Petrochemical Co are 1.37 SAR (price ÷ EPS = P/E 12.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Rabigh Refining & Petrochemical Co (2380)?
The net margin of Rabigh Refining & Petrochemical Co is 4.2% (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 Rabigh Refining & Petrochemical Co (2380)?
The return on equity (ROE) of Rabigh Refining & Petrochemical Co is 17.1% (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 Rabigh Refining & Petrochemical Co (2380)?
On an EBIT basis the return on assets of Rabigh Refining & Petrochemical Co is −1.6% (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 Rabigh Refining & Petrochemical Co (2380)?
The operating margin of Rabigh Refining & Petrochemical Co is 14.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Rabigh Refining & Petrochemical Co (2380)?
Revenue at Rabigh Refining & Petrochemical Co is growing +416% versus a year earlier (3y avg −14.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Rabigh Refining & Petrochemical Co (2380)?
Earnings per share at Rabigh Refining & Petrochemical Co are growing +93.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Rabigh Refining & Petrochemical Co (2380) generate?
The free cash flow of Rabigh Refining & Petrochemical Co is −1.6B 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 Rabigh Refining & Petrochemical Co (2380) carry?
The net debt of Rabigh Refining & Petrochemical Co is 24.4B 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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