Makkah Construction&Development Co (4100) fair value: what the stock is really worth
We calculate from audited financials what Makkah Construction&Development Co is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range 42.26 SAR – 109.85 SAR · fair‑value band 46.98 SAR – 144.06 SAR · the 80.10 SAR price screens below the 85.24 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 13, 2026.
Makkah Construction and Development Company invests in, owns, develops, manages, purchases, and leases properties near Al Masjid Al Haram in the Kingdom of Saudi Arabia. It operates through The Commercial Center, Hotels and towers, Hajj and Umrah, and Investment sector segment.
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Makkah Construction and Development Company invests in, owns, develops, manages, purchases, and leases properties near Al Masjid Al Haram in the Kingdom of Saudi Arabia. It operates through The Commercial Center, Hotels and towers, Hajj and Umrah, and Investment sector segment. It engages in the engineering works, including building, constructing, repairing, and demolishing works, as well as operates hotels; and offers Hajj and Umrah services. The company was incorporated in 1989 and is headquartered in Mecca, the Kingdom of Saudi Arabia.
Stock analysis
Makkah Construction&Development Co (4100) currently trades at 80.10 SAR, while our model-based Fair Value estimate is 85.24 SAR, implying the stock looks roughly 6.0% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 55.41 SAR per share, and 1 of the 26 models we run sit above the 80.10 SAR price.
Bear case: the Asset-Based group reads lowest at 12.87 SAR, and 25 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 46.98 SAR (bear) to 144.06 SAR (bull), the price of 80.10 SAR sits inside 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 64/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Makkah Construction&Development Co reported revenue of 1.1B SAR in FY2026 versus 253M SAR in FY2022, a compound +43.5%/yr. Reported net income was 474M SAR in FY2026, compounding +46.2%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap 16.0B SAR (≈ $4.3B) · P/E ratio 33.0 · P/S ratio 14.6 · EPS (TTM) 2.43 SAR · Dividend yield 2.5% · Net margin 44.2% · Return on equity 3.1% · Return on assets (EBIT) 6.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −37% fair-value upside, at 6%, 4100 screens cheaper than that median.
Fair Value models
Bear 46.98 SARFair Value 85.24 SARBull 144.06 SAR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (0.2662 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.Evidence ⓘEvidence = 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.
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.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+28.2%
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.
+32.5%
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.
+46.4%
Revenue growth 20 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.
+7.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+32.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+30.3%
Dividend (yield on the price)2.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.30% vs 2%, picking up
Profit margin 2021 to 2026 ⓘ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.15% → 40%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+24.7%
Yearly growth needed for the next five years to justify today's price.
Compare Makkah Construction&Development Co with another stock
Price, fair value, quality and upside side by side.
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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.Lodging · 163 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside−55% · Bottom 25%
Profitability
Return on equity (TTM)3% · Above median
Return on assets2% · Above median
Net margin (TTM)43% · Top 25%
Operating margin (TTM)58% · Top 25%
Growth and dividend
Revenue growth−11% · Bottom 25%
Dividend yield (TTM)2.5% · Above median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Lodging median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Makkah Construction&Development Co Fair Value". https://www.fairvalue-calculator.com/stock/4100
Frequently asked questions
Is Makkah Construction&Development Co (4100) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 85.24 SAR versus a price of 80.10 SAR, about +6% upside (fairly valued).
What is the fair value of 4100?
Our model-based fair value for Makkah Construction&Development Co is 85.24 SAR (as of Sep 13, 2026), built from audited fundamentals. The current price: 80.10 SAR.
What is the quality score of 4100?
Makkah Construction&Development Co has a Quality Score of 64/100. 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 Makkah Construction&Development Co (4100)?
Our model-based price target is the fair value of 85.24 SAR (as of Sep 13, 2026) from 26 valuation models. Cautious scenario 46.98 SAR, optimistic scenario 144.06 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Makkah Construction&Development Co stock forecast for 2026?
Our models put fair value at 85.24 SAR, about +6% upside versus a price of 80.10 SAR (fairly valued). Cautious scenario 46.98 SAR, optimistic scenario 144.06 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Makkah Construction&Development Co (4100)?
Makkah Construction&Development Co reported trailing-twelve-month revenue of about 516M SAR (latest available figure, as of Sep 13, 2026).
Does Makkah Construction&Development Co pay a dividend?
Makkah Construction&Development Co currently shows a dividend yield of about 2.50% relative to its recent price (as of Sep 13, 2026).
What growth is priced into Makkah Construction&Development Co (4100)?
For today's price to be fair in a discounted-cash-flow model, Makkah Construction&Development Co would have to grow free cash flow by +24.7 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +46.4 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of 4100 use?
Our models discount Makkah Construction&Development Co at 9.0 %: a base by market capitalisation (mid), damped by beta 0.49, country premium for Saudi Arabia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Makkah Construction&Development Co that is +24.7 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Makkah Construction&Development Co (4100) delivered so far?
Over the past 5 years revenue at Makkah Construction&Development Co grew +46.4 % a year. The price currently implies +24.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Makkah Construction&Development Co (4100) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Makkah Construction&Development Co (+24.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Makkah Construction&Development Co (4100)?
The free-cash-flow yield on the price is 2.00 %: that much free cash flow Makkah Construction&Development Co produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Makkah Construction&Development Co (4100)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Makkah Construction&Development Co it is 85.24 SAR per share (as of Sep 13, 2026), against a price of 80.10 SAR. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Makkah Construction&Development Co stock overvalued or undervalued in 2026?
As of Sep 13, 2026, 4100 trades below its calculated fair value: price 80.10 SAR, fair value 85.24 SAR, a gap of about +6% (fairly valued). 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 4100?
No. The price is what the market pays today (80.10 SAR); the fair value is what the company's own numbers justify (85.24 SAR). For Makkah Construction&Development Co the two are 5.14 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Makkah Construction&Development Co worth?
The market values Makkah Construction&Development Co at about 16.0B SAR (market capitalisation, as of Sep 13, 2026). Per share that is 80.10 SAR; our models calculate a fair value of 85.24 SAR per share.
What do the bullish and bearish scenarios say about 4100?
Our models span a range for Makkah Construction&Development Co: cautious scenario 46.98 SAR, base 85.24 SAR, optimistic 144.06 SAR per share (as of Sep 13, 2026, price 80.10 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4100?
Makkah Construction&Development Co trades at a price-to-earnings ratio of 33.0 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 85.24 SAR is built from several models across several years. Other multiples: P/B 1.2, P/S 8.6, EV/EBITDA 16.3.
How solid is the balance sheet of Makkah Construction&Development Co (4100)?
Balance-sheet figures for Makkah Construction&Development Co (as of Sep 13, 2026): return on equity 3.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 4100 from its 52-week high?
Makkah Construction&Development Co trades at 80.10 SAR, about 15% below its 52-week high of 94.60 SAR and 20% above the low of 66.79 SAR (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 85.24 SAR is for.
Which stocks are comparable to Makkah Construction&Development Co?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels 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 Makkah Construction&Development Co stock attractive at the current price?
The data as of Sep 13, 2026: price 80.10 SAR, calculated fair value 85.24 SAR (+6%), Quality Score 64/100, from 26 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 4100 calculated?
We run Makkah Construction&Development Co through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 85.24 SAR, 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 15.8 % above its aggregate fair value. Makkah Construction&Development Co currently trades 6 % below its own fair value, and the market average says nothing about that. 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 should I pay attention to with Makkah Construction&Development Co right now?
The model range is unusually wide (46.98 SAR to 144.06 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.
Where does the earnings growth of Makkah Construction&Development Co (4100) come from?
Earnings per share at Makkah Construction&Development Co grew +1.5 % a year from 2015 to 2026. Broken into its drivers: revenue per share +7.4 %, EBIT margin −7.3 %, tax rate +0.1 %, residual (interest, one-offs) +1.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Makkah Construction&Development Co
How large is the market capitalisation of Makkah Construction&Development Co (4100)?
The market capitalisation of Makkah Construction&Development Co is 16.0B SAR (≈ $4.3B). 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 Makkah Construction&Development Co (4100)?
The price-to-sales ratio of Makkah Construction&Development Co is 14.6 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Makkah Construction&Development Co (4100)?
Earnings per share at Makkah Construction&Development Co are 2.43 SAR (price ÷ EPS = P/E 33.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Makkah Construction&Development Co (4100)?
The dividend yield of Makkah Construction&Development Co is 2.5% (payout 82.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Makkah Construction&Development Co (4100)?
The net margin of Makkah Construction&Development Co is 44.2% (fiscal year 2026). 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 Makkah Construction&Development Co (4100)?
The return on equity (ROE) of Makkah Construction&Development Co is 3.1% (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 Makkah Construction&Development Co (4100)?
On an EBIT basis the return on assets of Makkah Construction&Development Co is 6.7% (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 Makkah Construction&Development Co (4100)?
The operating margin of Makkah Construction&Development Co is 58.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Makkah Construction&Development Co (4100)?
Revenue at Makkah Construction&Development Co is growing −10.6% versus a year earlier (3y avg +32.5%). 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 Makkah Construction&Development Co (4100)?
Earnings per share at Makkah Construction&Development Co are growing +10.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Makkah Construction&Development Co (4100) carry?
The net debt of Makkah Construction&Development Co is 31.0M SAR (fiscal year 2026, ≈ 0.1 yrs of FCF). 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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