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Saudi Ground Services Company (4031) Fair Value & Analysis

Industrials · SA · Market cap 5.1B SAR

SG Saudi Ground Services Company 4031 · SR
Price27.02 SAR
Fair Value33.41 SAR
Upside+23.7%
Quality56/100
Healthy Growth
Solidly profitable · 13.5% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Narrow moat 43/100
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Evidence: High Range 25.17 SAR – 41.65 SAR Share as image

Fair value as of: Jul 31, 2026

From 26 valuation models · updated today

Share price −13.0% over the past month.

Price vs Fair Value (12 months)

48.29 SAR 27.02 SAR Fair Value 33.41 SAR Aug 2025 Jul 2026

12‑month range 27.02 SAR – 48.29 SAR · fair‑value band 25.17 SAR – 41.65 SAR · the 27.02 SAR price screens below the 33.41 SAR fair value. As of Jul 31, 2026.

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Analysis

Saudi Ground Services Company (4031) currently trades at 27.02 SAR, while our model-based Fair Value estimate is 33.41 SAR, implying the stock looks roughly 23.7% undervalued today. We read business quality at 56/100 (solid quality), in the Industrials 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, Saudi Ground Services Company generated revenue of 2.7B SAR at a net margin of 13.5%. Revenue grew 0.1% year over year. It earns a return on equity of 14.6%. The balance sheet holds a net cash position of 84.7M SAR. Fundamentals as of Jul 31, 2026

Our scenario range runs from 25.17 SAR (bear case) to 41.65 SAR (bull case); at 27.02 SAR, the current price sits within that range. The share trades about 45% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -23% fair-value upside, at 24%, 4031 screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 2.7B SAR
Revenue growth (YoY) +0.1%
Net margin 13.5%
Return on equity 14.6%
Free cash flow 501M SAR FY2025
P/E ratio 13.8
More key figures
Operating margin 4.1%
EPS (TTM) 1.95 SAR
EPS growth (YoY) -38.1%
Net cash 84.7M SAR FY2025

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

Quality Score breakdown

Overall quality 56/100
Profitability 50
Quality Growth 46
Cashflow 78
Fin. Strength 82
Investment 76
Low Volatility 88
Momentum 11
52W Momentum 1
Net Issuance 82

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 Ground Services Company provides ground-handling services in the Kingdom of Saudi Arabia. The company offers passenger services, such as station management, gate services, VIP services, deportee handling, additional security services, flight operations, and assisting passengers with reduced mobility, as well as arrival and transfer services, check-in …

Full company description

Saudi Ground Services Company provides ground-handling services in the Kingdom of Saudi Arabia. The company offers passenger services, such as station management, gate services, VIP services, deportee handling, additional security services, flight operations, and assisting passengers with reduced mobility, as well as arrival and transfer services, check-in services, excess baggage services, boarding pass and baggage tagging, load control, crew handling, and passenger manifests and seat allocation. It also provides loading and unloading, baggage assembly, sorting, reconciliation and transportation, and operation and handling of baggage reconciliation system; traffic control services; and ramp services, including aircraft turnaround coordination, ground to cock-pit headset services, marshaling the aircraft, aircraft loading supervision, ground power unit, push-back, unit load device control, air conditioning unit, air starter unit, aircraft towing, and wing-walkers. In addition, the company offers loading and unloading, and transportation of general cargo and special cargo; load control comprising load planning, aircraft weight and balance calculations, messaging and telecommunications, issuing loading instruction reports, and notification to captain and load sheet; and cabin grooming and deep cleaning, turnaround cleaning, toilet and water services, and disinfection services. Further, it provides representation and supervision services. The company was founded in 1945 and is based in Jeddah, the Kingdom of Saudi Arabia. Saudi Ground Services Company operates as a subsidiary of Saudi Arabian Airlines Corporation.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Saudi Ground Services Company reported revenue of 2.7B SAR in FY2025 versus 1.6B SAR in FY2021, a compound +14.1%/yr. Reported net income was 405M SAR in FY2025.

Revenue +14.1%/yr
FY21 1.6B SAR
FY22 2.0B SAR
FY23 2.5B SAR
FY24 2.7B SAR
FY25 2.7B SAR
Net income
FY21 −254M SAR
FY22 −244M SAR
FY23 211M SAR
FY24 327M SAR
FY25 405M SAR

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Cite: Fair Value Calculator (2026). "Saudi Ground Services Company Fair Value". https://www.fairvalue-calculator.com/stock/4031

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 65 / 37
FUTURE 1 / 24
PAST 58 / 45
HEALTH 100 / 91
DIVIDEND 0 / 42

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.

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Frequently asked questions

Is Saudi Ground Services Company (4031) overvalued or undervalued?
As of Jul 31, 2026, our model estimates a fair value of 33.41 SAR versus a price of 27.02 SAR, about +24% (undervalued).
What is the fair value of 4031?
Our model-based fair value for Saudi Ground Services Company is 33.41 SAR (as of Jul 31, 2026), built from audited fundamentals. The current price is 27.02 SAR.
What is the quality score of 4031?
Saudi Ground Services Company has a Quality Score of 56/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Saudi Ground Services Company (4031)?
Saudi Ground Services Company reported trailing-twelve-month revenue of about 2.7B SAR (latest available figure, as of Jul 31, 2026).
What is the net profit margin of 4031?
The net profit margin of Saudi Ground Services Company is about 13.5%, meaning it keeps roughly 13.5% of revenue as net income. Based on the latest reported figures.

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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