ADES Holding (2382) Fair Value & Analysis
Energy · SA · Market cap 18.5B SAR
Fair value as of: Jul 31, 2026
From 26 valuation models · updated today
Share price −10.6% over the past month.
What matters now
- The price sits above even our optimistic bull case (12.68 SAR). The favourable scenario is already priced in.
- Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (12 months)
12‑month range 14.06 SAR – 19.74 SAR · fair‑value band 7.27 SAR – 12.68 SAR · the 16.64 SAR price screens above the 7.27 SAR fair value. As of Jul 31, 2026.
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ADES Holding (2382) currently trades at 16.64 SAR, while our model-based Fair Value estimate is 7.27 SAR, implying the stock looks roughly 56.3% overvalued today. We read business quality at 42/100 (below-average quality), in the Energy 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, ADES Holding generated revenue of 7.6B SAR at a net margin of 11.3%. Revenue grew 62.6% year over year. It earns a return on equity of 13.2%. Net debt stands at 18.3B SAR. Fundamentals as of Jul 31, 2026
Our scenario range runs from 7.27 SAR (bear case) to 12.68 SAR (bull case); at 16.64 SAR, the current price sits above that range. The share trades about 17% below its 52-week high and 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -35% fair-value upside, at -56%, 2382 screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
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
ADES Holding Company, through its subsidiaries, provides oil and gas drilling and production services in Egypt, Algeria, Tunisia, the Kingdom of Saudi Arabia, Kuwait, Qatar, India, Southeast Asia, West/Central Africa, Norway, and other regions. Its services primarily include offshore and onshore contract drilling and production services.
Full company description
ADES Holding Company, through its subsidiaries, provides oil and gas drilling and production services in Egypt, Algeria, Tunisia, the Kingdom of Saudi Arabia, Kuwait, Qatar, India, Southeast Asia, West/Central Africa, Norway, and other regions. Its services primarily include offshore and onshore contract drilling and production services. The company's offshore services comprise drilling and workover services, and a mobile offshore production unit, as well as accommodation, catering, and other barge-based support services. Its onshore services include drilling and work over services, projects services, and repair and maintenance services. The company also engages in rig leasing, HR service, trading, training, and transportation equipment leasing activities. The company was founded in 2022 and is headquartered in Al Khobar, the Kingdom of Saudi Arabia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
ADES Holding reported revenue of 6.7B SAR in FY2025 versus 1.5B SAR in FY2021, a compound +45.0%/yr. Reported net income was 818M SAR in FY2025, compounding +66.0%/yr from FY2021.
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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 Oil & Gas Drilling stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Noble Corporation NE | $42.35 | $23.09 | -45% |
| Sinopec Oilfield Service Corporation 600871 | ¥2.24 | ¥1.23 | -45% |
| Transocean Ltd RIG | $6.25 | $4.07 | -35% |
| Valaris Limited VAL | $79.92 | $63.09 | -21% |
| Patterson-UTI Energy, Inc PTEN | $11.51 | $10.29 | -11% |
| Helmerich & Payne, Inc HP | $35.45 | $16.10 | -55% |
| Seadrill Limited SDRL | $39.77 | $25.17 | -37% |
| Odfjell Drilling Ltd ODFJF | $8.77 | $9.75 | +11% |
| Arabian Drilling Company 2381 | 80.70 SAR | 11.09 SAR | -86% |
| Nabors Industries Ltd NBR | $84.72 | $209.20 | +147% |
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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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