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Saudi Airlines Catering Company (6004) fair value: what the stock is really worth

We calculate from audited financials what Saudi Airlines Catering Company 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.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · SA · ISIN SA1330R2TQ16

SA Broad data Sep 13, 2026

Saudi Airlines Catering Company

6004 · SR

Weakest SetupStrongly overvalued and low quality.

!Fair value 43.82 SAR · Strongly overvalued (−37%)
!Quality 48/100
!Expensive Growth (revenue 5y +21.4 %/yr)
Solidly profitable · 12.7% net margin (TTM)
!Low debt · negative free cash flow
·3.30% dividend yield
Ranks above peers (11/13)
!Moderate moat 62/100
!The models disagree: range 26.01 SAR to 80.45 SAR
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What runs behind every stock

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

Price vs Fair Value

135.99 SAR 63.61 SAR Fair Value 43.82 SAR May 2021 Sep 2026

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 63.61 SAR – 135.99 SAR · fair‑value band 26.01 SAR – 80.45 SAR · the 69.65 SAR price screens above the 43.82 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

CATRION Catering Holding Company, together with its subsidiaries, offers catering and other support services to flights operated by Saudi Arabian and other airlines in the Kingdom of Saudi Arabia. The company operates through two segments: Inflight and Integrated Hospitality.

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CATRION Catering Holding Company, together with its subsidiaries, offers catering and other support services to flights operated by Saudi Arabian and other airlines in the Kingdom of Saudi Arabia. The company operates through two segments: Inflight and Integrated Hospitality. The company offers inflight catering, airline equipment, business lounge and retail ground, onboard and online services; lounges within the airport and railway hospitality; manpower services, coffee shop and cafeteria management, facilities management, catering, and laundry services for remote locations. It offers remote and camp management, business and industries catering, laundry services, Hajj and Umrah catering; non-airline catering and other services; accommodation; washing and drycleaning; facility management services. The company also provides technical maintenance to food service and industrial laundry; commercial laundry services; testing services, including bacteriological testing, and food safety management system; tests in air sampling, equipment cleaning, raw materials, and finished food products testing services. In addition, it is involved in SkySales, onboard retail service offers a range of products, including perfumes, cosmetics, watches, jewellery, electronics, toys and airline-branded goods. CATRION Catering Holding Company was formerly known as Saudi Airlines Catering Company and changed its name to CATRION Catering Holding Company in October 2023. The company was founded in 1981 and is headquartered in Jeddah, the Kingdom of Saudi Arabia.

Stock analysis

Saudi Airlines Catering Company (6004) currently trades at 69.65 SAR, while our model-based Fair Value estimate is 43.82 SAR, implying the stock looks roughly 59.0% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 70.60 SAR per share, and 4 of the 16 models we run sit above the 69.65 SAR price.

Bear case: the Asset-Based group reads lowest at 12.87 SAR, and 12 of the 16 models stay below the price. Evidence for this calculation is high.

Scenario range: 26.01 SAR (bear) to 80.45 SAR (bull), the price of 69.65 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 48/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Saudi Airlines Catering Company reported revenue of 2.4B SAR in FY2025 versus 1.2B SAR in FY2021, a compound +19.1%/yr. Reported net income was 314M SAR in FY2025, compounding +117.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap 5.7B SAR (≈ $1.5B) · P/E ratio 17.9 · P/S ratio 2.30 · EPS (TTM) 3.89 SAR · Dividend yield 3.3% · Net margin 12.8% · Return on equity 21.0% · Return on assets (EBIT) 10.7%.

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 38% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at −37%, 6004 screens richer than that median.

Fair Value models

Bear 26.01 SAR Fair Value 43.82 SAR Bull 80.45 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 2025 figures (about 8 months old). Earnings retained since then (1.12 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.
Highest evidence
EPV 32.11 SAR 37.15 SAR 41.50 SAR 74
ROIC Compounder 34.11 SAR 42.57 SAR 52.32 SAR 72
Residual Income 23.36 SAR 29.17 SAR 77.25 SAR 68
All 16 models by family
Earnings-Based
Graham-Dodd 26.01 SAR 79.13 SAR 105.00 SAR 65
Lynch FV 16.95 SAR 24.21 SAR 31.47 SAR 61
PEG = 1.0 16.95 SAR 24.21 SAR 31.47 SAR 57
EPV 32.11 SAR 37.15 SAR 41.50 SAR 74
Dividend Discount
Gordon GGM 20.14 SAR 40.14 SAR 60.78 SAR 67
DDM Multi-Stage 20.14 SAR 32.41 SAR 42.37 SAR 66
Multiples
P/E Multiple 60.24 SAR 80.32 SAR 100.40 SAR 63
P/S Multiple 44.65 SAR 59.54 SAR 74.42 SAR 58
P/B Multiple 48.76 SAR 65.02 SAR 81.27 SAR 55
EV/EBIT 49.93 SAR 66.50 SAR 83.07 SAR 66
EV/EBITDA 55.23 SAR 73.57 SAR 91.91 SAR 67
EV/Revenue 35.69 SAR 50.90 SAR 66.11 SAR 53
Asset-Based
NCAV (Graham) 9.60 SAR 12.87 SAR 19.21 SAR 54
Economic Profit
Residual Income 23.36 SAR 29.17 SAR 77.25 SAR 68
ROIC Compounder 34.11 SAR 42.57 SAR 52.32 SAR 72
Growth Earnings
Growth-Adj P/E 49.42 SAR 70.60 SAR 91.78 SAR 67

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Quality Score breakdown

Overall quality 48/100

Of which business quality 49 · Market factors (momentum, volatility) 40

Profitability 55
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 14
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 81
Share count: buybacks or dilution?

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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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+6.2%
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.
+10.3%
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.
+21.4%
Revenue growth 17 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.
+5.3%
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.
+8.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.6%
Dividend (yield on the price)3.3%
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.6% vs −7%, picking up
Profit margin 2020 to 2025 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.−29% → 13%

6004 screens 59% overvalued. Compare with Aena S.M.E., S.A →

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Peer GroupHow 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.Airports & Air Services · 54 stocks

Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 48 · Bottom 25%
Fair Value upside −8% · Below median
Profitability
Return on equity (TTM) 21% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 13% · Above median
Operating margin (TTM) 16% · Above median
Growth and dividend
Revenue growth 13% · Top 25%
Dividend yield (TTM) 3.3% · Above median
Balance sheet
Debt / equity 0.24× · Below median

Valuation Multiplesvs Airports & Air Services median · lower = cheaper

P/E (TTM) 17.9× · Cheaper than median
P/B 0.97× · Cheapest 25%
P/S (TTM) 0.61× · Cheapest 25%
EV/EBITDA 3.5× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 47
FUTURE (revenue growth)64 · sector 32
PAST (return on equity)84 · sector 45
HEALTH (low debt)88 · sector 87
DIVIDEND (yield)66 · sector 59

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.

None of the checked exposures detected

Similar stocks

10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Aena S.M.E., S.A AENA €24.66 €27.13 +10%
Airports of Thailand Public Company TATD 2.40 SGD 2.64 SGD +10%
Grupo Aeroportuario del Pacífico, S.A. PAC $203.46 $251.17 +23%
GMR Airports Limited GMRINFRA ₹98.10 ₹22.29 −77%
Shanghai International Airport Co 600009 ¥23.28 ¥25.61 +10%
Flughafen Zürich AG FHZN CHF 202.40 CHF 121.30 −40%
Auckland International Airport Limited AIA A$6.77 A$3.35 −51%
Fraport AG FRA €60.15 €49.83 −17%
Københavns Lufthavne A/S KBHL kr 5,560 kr 1,821 −67%
SATS Ltd S58 3.91 SGD 5.30 SGD +36%

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Cite: Fair Value Calculator (2026). "Saudi Airlines Catering Company Fair Value". https://www.fairvalue-calculator.com/stock/6004

Frequently asked questions

Is Saudi Airlines Catering Company (6004) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 43.82 SAR versus a price of 69.65 SAR, about −37% upside (overvalued).
What is the fair value of 6004?
Our model-based fair value for Saudi Airlines Catering Company is 43.82 SAR (as of Sep 13, 2026), built from audited fundamentals. The current price: 69.65 SAR.
What is the quality score of 6004?
Saudi Airlines Catering Company has a Quality Score of 48/100. 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 Saudi Airlines Catering Company (6004)?
Our model-based price target is the fair value of 43.82 SAR (as of Sep 13, 2026) from 16 valuation models. Cautious scenario 26.01 SAR, optimistic scenario 80.45 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Saudi Airlines Catering Company stock forecast for 2026?
Our models put fair value at 43.82 SAR, about −37% upside versus a price of 69.65 SAR (overvalued). Cautious scenario 26.01 SAR, optimistic scenario 80.45 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Saudi Airlines Catering Company (6004)?
Saudi Airlines Catering Company reported trailing-twelve-month revenue of about 2.5B SAR (latest available figure, as of Sep 13, 2026).
Does Saudi Airlines Catering Company pay a dividend?
Saudi Airlines Catering Company currently shows a dividend yield of about 3.30% relative to its recent price (as of Sep 13, 2026).
What is the intrinsic value of Saudi Airlines Catering Company (6004)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Saudi Airlines Catering Company it is 43.82 SAR per share (as of Sep 13, 2026), against a price of 69.65 SAR. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Saudi Airlines Catering Company stock overvalued or undervalued in 2026?
As of Sep 13, 2026, 6004 trades above its calculated fair value: price 69.65 SAR, fair value 43.82 SAR, a gap of about −37% (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 6004?
No. The price is what the market pays today (69.65 SAR); the fair value is what the company's own numbers justify (43.82 SAR). For Saudi Airlines Catering Company the two are 25.83 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Saudi Airlines Catering Company worth?
The market values Saudi Airlines Catering Company at about 5.7B SAR (market capitalisation, as of Sep 13, 2026). Per share that is 69.65 SAR; our models calculate a fair value of 43.82 SAR per share.
What do the bullish and bearish scenarios say about 6004?
Our models span a range for Saudi Airlines Catering Company: cautious scenario 26.01 SAR, base 43.82 SAR, optimistic 80.45 SAR per share (as of Sep 13, 2026, price 69.65 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6004?
Saudi Airlines Catering Company trades at a price-to-earnings ratio of 17.9 (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 43.82 SAR is built from several models across several years. Other multiples: P/B 1.0, P/S 0.6, EV/EBITDA 3.5.
How solid is the balance sheet of Saudi Airlines Catering Company (6004)?
Balance-sheet figures for Saudi Airlines Catering Company (as of Sep 13, 2026): return on equity 21.0%, debt of 0.24 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 6004 from its 52-week high?
Saudi Airlines Catering Company trades at 69.65 SAR, about 38% below its 52-week high of 112.82 SAR and 5% above the low of 66.42 SAR (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 43.82 SAR is for.
Which stocks are comparable to Saudi Airlines Catering Company?
From the same area (Industrials) we also value Aena S.M.E., S.A, Airports of Thailand Public Company, Grupo Aeroportuario del Pacífico, S.A., GMR Airports Limited, 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 Saudi Airlines Catering Company stock attractive at the current price?
The data as of Sep 13, 2026: price 69.65 SAR, calculated fair value 43.82 SAR (−37%), Quality Score 48/100, from 16 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 6004 calculated?
We run Saudi Airlines Catering Company through 16 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 43.82 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. Saudi Airlines Catering Company 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 should I pay attention to with Saudi Airlines Catering Company right now?
The model range is unusually wide (26.01 SAR to 80.45 SAR). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Saudi Airlines Catering Company (6004) come from?
Earnings per share at Saudi Airlines Catering Company grew −7.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.4 %, EBIT margin −7.0 %, tax rate −0.6 %, residual (interest, one-offs) −0.1 %. 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 Saudi Airlines Catering Company

How large is the market capitalisation of Saudi Airlines Catering Company (6004)?
The market capitalisation of Saudi Airlines Catering Company is 5.7B SAR (≈ $1.5B). 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 Saudi Airlines Catering Company (6004)?
The price-to-sales ratio of Saudi Airlines Catering Company is 2.30 (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 Saudi Airlines Catering Company (6004)?
Earnings per share at Saudi Airlines Catering Company are 3.89 SAR (price ÷ EPS = P/E 17.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Saudi Airlines Catering Company (6004)?
The dividend yield of Saudi Airlines Catering Company is 3.3% (payout 59.1%). 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 Saudi Airlines Catering Company (6004)?
The net margin of Saudi Airlines Catering Company is 12.8% (fiscal year 2025). 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 Saudi Airlines Catering Company (6004)?
The return on equity (ROE) of Saudi Airlines Catering Company is 21.0% (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 Saudi Airlines Catering Company (6004)?
On an EBIT basis the return on assets of Saudi Airlines Catering Company is 10.7% (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 Saudi Airlines Catering Company (6004)?
The operating margin of Saudi Airlines Catering Company is 15.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Saudi Airlines Catering Company (6004)?
Revenue at Saudi Airlines Catering Company is growing +12.7% versus a year earlier (3y avg +10.3%). 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 Saudi Airlines Catering Company (6004)?
Earnings per share at Saudi Airlines Catering Company are growing +7.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Saudi Airlines Catering Company (6004) generate?
The free cash flow of Saudi Airlines Catering Company is −228M 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 Saudi Airlines Catering Company (6004) carry?
The net debt of Saudi Airlines Catering Company is 464M 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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