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Etihad Etisalat Co (7020) Fair Value & Analysis

Communication Services · SA · Market cap 47.9B SAR

EE Etihad Etisalat Co 7020 · SR
Price65.45 SAR
Fair Value76.77 SAR
Upside+17.3%
Quality65/100
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Strengths

Trades 15% below our fair value of 76.77 SAR
Healthy Growth (revenue 5y +6.9 %/yr)
Solidly profitable · 18.1% net margin
Low debt · generates free cash flow

Risks

!Weak on future: 26 out of 100
Healthy Growth (revenue 5y +6.9 %/yr)
Solidly profitable · 18.1% net margin
Low debt · generates free cash flow
4.86% dividend yield
Ranks above peers (13/14)
Wide moat 66/100
Evidence: High Range 57.58 SAR – 95.96 SAR Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated 12 days ago

Share price +4.8% over the past month.

A solid business, trading 15% below our fair value.

What runs behind every stock

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

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What matters now

  • Our model range runs from 57.58 SAR (bear) to 95.96 SAR (bull), base 76.77 SAR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 65/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

68.08 SAR 24.39 SAR Fair Value 76.77 SAR May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 24.39 SAR – 68.08 SAR · fair‑value band 57.58 SAR – 95.96 SAR · the 65.45 SAR price screens below the 76.77 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Etihad Etisalat Co (7020) currently trades at 65.45 SAR, while our model-based Fair Value estimate is 76.77 SAR, implying the stock looks roughly 17.3% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Communication Services 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, Etihad Etisalat Co generated revenue of 20.2B SAR at a net margin of 18.1%. Revenue grew 5.2% year over year. It earns a return on equity of 18.1%. Net debt stands at 8.6B SAR. Fundamentals as of Aug 13, 2026

Our scenario range runs from 57.58 SAR (bear case) to 95.96 SAR (bull case); at 65.45 SAR, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 14% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 30% fair-value upside, at 17%, 7020 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Growth DCF 54.05 SAR 77.57 SAR 109.99 SAR 80
Residual Income 29.35 SAR 37.04 SAR 93.92 SAR 76
Rev-Margin DCF 44.86 SAR 69.13 SAR 95.61 SAR 74
All 25 models by family
DCF Models
FCF DCF 52.57 SAR 78.12 SAR 115.05 SAR 38
Owner Earnings 57.20 SAR 84.92 SAR 124.96 SAR 31
5Y Revenue Exit 44.86 SAR 68.55 SAR 97.73 SAR 39
5Y EBITDA Exit 67.65 SAR 109.49 SAR 156.68 SAR 41
5Y P/E Exit 59.26 SAR 94.43 SAR 129.78 SAR 38
10Y Revenue Exit 45.89 SAR 67.71 SAR 94.85 SAR 36
10Y EBITDA Exit 61.52 SAR 95.53 SAR 138.19 SAR 37
10Y P/E Exit 56.26 SAR 85.29 SAR 118.41 SAR 35
Earnings-Based
Graham-Dodd 30.71 SAR 76.57 SAR 99.31 SAR 54
PEG = 1.0 13.97 SAR 19.96 SAR 25.95 SAR 46
EPV 40.57 SAR 47.73 SAR 54.00 SAR 59
Dividend Discount
Gordon GGM 22.44 SAR 41.98 SAR 68.85 SAR 70
DDM Multi-Stage 22.44 SAR 33.94 SAR 46.43 SAR 61
Multiples
P/E Multiple 74.51 SAR 99.35 SAR 124.19 SAR 63
P/S Multiple 57.58 SAR 76.77 SAR 95.96 SAR 58
P/B Multiple 57.58 SAR 76.77 SAR 95.96 SAR 55
EV/EBIT 57.76 SAR 77.81 SAR 97.85 SAR 53
EV/EBITDA 87.05 SAR 116.86 SAR 146.68 SAR 54
EV/Revenue 43.22 SAR 62.77 SAR 82.32 SAR 43
Asset-Based
NCAV (Graham) 13.24 SAR 17.75 SAR 26.49 SAR 50
Growth DCF
Growth DCF 54.05 SAR 77.57 SAR 109.99 SAR 80
Rev-Margin DCF 44.86 SAR 69.13 SAR 95.61 SAR 74
Economic Profit
Residual Income 29.35 SAR 37.04 SAR 93.92 SAR 76
ROIC Compounder 42.40 SAR 53.14 SAR 65.32 SAR 72
Growth Earnings
Growth-Adj P/E 57.18 SAR 81.68 SAR 106.19 SAR 68

Widest divergence: DCF Models (84.92 SAR) versus Asset-Based (17.75 SAR). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 13.8
P/S ratio 2.38 TTM
Dividend yield 4.9% payout 67.0%
Net margin 18.1% TTM
Return on equity 18.1% TTM
Return on assets 6.2% TTM
More key figures
Profitability
Operating margin 19.3% TTM
EPS (TTM) 4.75 SAR
Growth
Revenue (TTM) 20.2B SAR TTM
Revenue growth (YoY) +5.2% 3y avg +7.8%
EPS growth (YoY) +8.3%
Balance sheet & cash flow
Free cash flow 3.9B SAR FY2025
Net debt 8.6B SAR FY2025 · ≈ 2.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 59

Profitability 53
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Etihad Etisalat Company, through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia. The company operates through Consumer, Business, Wholesale, and Others segments.

Full company description

Etihad Etisalat Company, through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia. The company operates through Consumer, Business, Wholesale, and Others segments. It manages, installs, and operates telephone networks, terminals, and communication unit systems; and sells and maintains mobile phones and communication unit systems. The company also offers information technology, application, billing and testing support, product marketing, process management, support, and call center; voice call, and mobile and fixed Internet; fixed connectivity, and cloud and data center; interconnection, transition, and roaming; outsourcing human resource; digital financial wallet services; consulting and office administration; and financial technology services. In addition, it is involved in the trading, import, and export of computer systems; and wholesale, retail, maintenance, and operation of computers and electronic equipment, as well as provision of related services. Further, the company invests funds in shares, bonds, and other securities; establishes, owns, and manages companies for the commercial, industrial, and service companies; and owns real estate, as well as owns and leases intellectual property rights, such as patents and trademarks, concessions, and other intangible rights. Additionally, it provides business postpaid, fiber net, data connect prepaid and postpaid, M2M and IOT, hosting and cloud, networks and information security, and digital hub services; and distributes phones, tablets, wearables, consoles, laptops, routers, and other accessories. Etihad Etisalat Company was incorporated in 2004 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Etihad Etisalat Co reported revenue of 19.6B SAR in FY2025 versus 14.8B SAR in FY2021, a compound +7.3%/yr. Reported net income was 3.5B SAR in FY2025, compounding +34.1%/yr from FY2021.

Growth Quality 83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
19.6B SAR
Latest YoY
+7.9%
Avg. revenue growth/yr (3Y) 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.
+7.8%
Avg. revenue growth/yr (5Y) 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.
+6.9%
Avg. revenue growth/yr (19Y) 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.
+6.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+27.9% (23.0 + 4.9)
Revenue +7.3%/yr
FY21 14.8B SAR
FY22 15.7B SAR
FY23 16.8B SAR
FY24 18.2B SAR
FY25 19.6B SAR
Net income +34.1%/yr
FY21 1.1B SAR
FY22 1.7B SAR
FY23 2.2B SAR
FY24 3.1B SAR
FY25 3.5B SAR

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Cite: Fair Value Calculator (2026). "Etihad Etisalat Co Fair Value". https://www.fairvalue-calculator.com/stock/7020

Peer Group

Telecom Services · 258 stocks

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.

Quality Score 65 · Top 25%
Fair Value upside +17% · Above median
Return on equity (TTM) 18% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 19% · Above median
Revenue growth 5% · Above median
Dividend yield (TTM) 4.6% · Above median
Debt / equity 0.26× · Higher than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 13.8× · Cheaper than median
P/B 0.63× · Cheaper than 75% of peers
P/S (TTM) 0.63× · Cheaper than median
P/FCF 3.3× · Cheaper than median
EV/EBITDA 2.0× · Cheaper than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE56 · sector 28
FUTURE26 · sector 16
PAST72 · sector 27
HEALTH87 · sector 89
DIVIDEND92 · sector 74

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 Telecom Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
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T-Mobile US, Inc TMUS $177.13 $172.67 -3%
Verizon Communications Inc VZ $49.45 $64.43 +30%
AT&T Inc T $24.25 $43.97 +81%
Bharti Airtel Limited BHARTIARTL ₹1,935 ₹941.48 -51%
Comcast Corporation CMCSA $25.47 $95.42 +275%
China Telecom Corporation 601728 ¥6.43 ¥8.36 +30%
América Móvil, S.A. AMX $23.22 $39.38 +70%
Singapore Telecommunications Limited Z77 4.29 SGD 3.03 SGD -29%
Swisscom AG SCMN CHF 632.00 CHF 463.92 -27%

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Frequently asked questions

Is Etihad Etisalat Co (7020) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 76.77 SAR versus a price of 65.45 SAR, about +17% (undervalued).
What is the fair value of 7020?
Our model-based fair value for Etihad Etisalat Co is 76.77 SAR (as of Aug 13, 2026), built from audited fundamentals. The current price: 65.45 SAR.
What is the quality score of 7020?
Etihad Etisalat Co has a Quality Score of 65/100. 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 revenue of Etihad Etisalat Co (7020)?
Etihad Etisalat Co reported trailing-twelve-month revenue of about 20.2B SAR (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 7020?
The net profit margin of Etihad Etisalat Co is about 18.1%, meaning it keeps roughly 18.1% of revenue as net income. Based on the latest reported figures.
Does Etihad Etisalat Co pay a dividend?
Etihad Etisalat Co currently shows a dividend yield of about 4.86% relative to its recent price (as of Aug 13, 2026).

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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