Etihad Atheeb Telecommunication (7040) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Etihad Atheeb Telecommunication SAR 114, price SAR 82.15, upside +39.2%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 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 Oct 3, 2026.
How to read this chart
60‑month range 10.27 SAR – 124.24 SAR · fair‑value band 69.79 SAR – 139.86 SAR · the 82.15 SAR price screens below the 114.35 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 3, 2026.
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Etihad GO Telecom Co. provides telecommunication services for individuals, households, and businesses in the Kingdom of Saudi Arabia and internationally. It operates through the Data Services; Voice; and Systems Analysis, Application Design and Development Services segments.
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Etihad GO Telecom Co. provides telecommunication services for individuals, households, and businesses in the Kingdom of Saudi Arabia and internationally. It operates through the Data Services; Voice; and Systems Analysis, Application Design and Development Services segments. The company offers voice, data, broadband internet, internet telephony, international gateway, and landline phone services. It also provides local and international calls including interconnection; internet broadband services to business-to-business (B2B) and business-to consumer (B2C).; and technical consulting services. The company was formerly known as Etihad Atheeb Telecommunication Company and changed its name to Etihad GO Telecom Co. in November 2025. Etihad GO Telecom Co. was founded in 2008 and is based in Riyadh, the Kingdom of Saudi Arabia.
Stock analysis
Etihad Atheeb Telecommunication (7040) currently trades at 82.15 SAR, while our model-based Fair Value estimate is 114.35 SAR, implying the stock looks roughly 28.2% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 265.85 SAR per share, and 20 of the 24 models we run sit above the 82.15 SAR price.
Bear case: the Asset-Based group reads lowest at 19.98 SAR, and 4 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 69.79 SAR (bear) to 139.86 SAR (bull), the price of 82.15 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 51/100 (solid quality), in the Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Etihad Atheeb Telecommunication reported revenue of 1.9B SAR in FY2026 versus 379M SAR in FY2022, a compound +50.0%/yr. Reported net income was 259M SAR in FY2026.
Key figures
Market cap 2.8B SAR (≈ $744M) · P/E ratio 10.5 · P/S ratio 1.42 · EPS (TTM) 7.81 SAR · Dividend yield 0.4% · Net margin 13.5% · Return on equity 28.3% · Return on assets (EBIT) 9.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 26% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 36% fair-value upside, at 39%, 7040 screens cheaper than that median.
Fair Value models
Bear 69.79 SARFair Value 114.35 SARBull 139.86 SAR
Price 82.15 SAR · Upside +39.2%
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 6 months old). Earnings retained since then (4.00 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+31.2%
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.
+44.9%
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.
+46.7%
Start year 2021 (pandemic). Over 10 years: +18.8% a year
Revenue growth 16 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.
+28.3%
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What shareholders gained per year (last 3 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 3 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.
+25.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.7%
Dividend (yield on the price)0.4%
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.−12% → 15%
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).
+30.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Saudi Arabia: IMF forecast 2.1% a year to 2030, 1.7% from 2016 to 2025) that is about +27.7% a year for the price.
Compare Etihad Atheeb Telecommunication with another stock
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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.Telecom Services · 232 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+39.2% · Above median
Profitability
Return on equity (TTM)28.3% · Top 25%
Return on assets10.1% · Top 25%
Net margin (TTM)13.1% · Above median
Operating margin (TTM)13.2% · Above median
Growth and dividend
Revenue growth25.2% · Top 25%
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
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Is Etihad Atheeb Telecommunication (7040) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 114.35 SAR versus a price of 82.15 SAR, about +39% upside (undervalued).
What is the fair value of 7040?
Our model-based fair value for Etihad Atheeb Telecommunication is 114.35 SAR (as of Oct 3, 2026), built from audited fundamentals. The current price: 82.15 SAR.
What is the quality score of 7040?
Etihad Atheeb Telecommunication has a Quality Score of 51/100. 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 Etihad Atheeb Telecommunication (7040)?
Our model-based price target is the fair value of 114.35 SAR (as of Oct 3, 2026) from 24 valuation models. Cautious scenario 69.79 SAR, optimistic scenario 139.86 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Etihad Atheeb Telecommunication stock forecast for 2026?
Our models put fair value at 114.35 SAR, about +39% upside versus a price of 82.15 SAR (undervalued). Cautious scenario 69.79 SAR, optimistic scenario 139.86 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Etihad Atheeb Telecommunication (7040)?
Etihad Atheeb Telecommunication reported trailing-twelve-month revenue of about 2.0B SAR (latest available figure, as of Oct 3, 2026).
Does Etihad Atheeb Telecommunication pay a dividend?
Etihad Atheeb Telecommunication currently shows a dividend yield of about 0.37% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Etihad Atheeb Telecommunication (7040)?
For today's price to be fair in a discounted-cash-flow model, Etihad Atheeb Telecommunication would have to grow free cash flow by +30.3 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +46.7 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of 7040 use?
Our models discount Etihad Atheeb Telecommunication at 10.3 %: a base by market capitalisation (small), damped by beta 0.45, 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 Etihad Atheeb Telecommunication that is +30.3 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Etihad Atheeb Telecommunication (7040) delivered so far?
Over the past 5 years revenue at Etihad Atheeb Telecommunication grew +46.7 % a year. The price currently implies +30.3 % 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 Etihad Atheeb Telecommunication (7040) growing?
The median revenue growth in the sector is +3.2 % a year. That is the yardstick for the growth priced into Etihad Atheeb Telecommunication (+30.3 % 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 Etihad Atheeb Telecommunication (7040)?
The free-cash-flow yield on the price is 1.48 %: that much free cash flow Etihad Atheeb Telecommunication produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Etihad Atheeb Telecommunication (7040)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Etihad Atheeb Telecommunication it is 114.35 SAR per share (as of Oct 3, 2026), against a price of 82.15 SAR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Etihad Atheeb Telecommunication stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 7040 trades below its calculated fair value: price 82.15 SAR, fair value 114.35 SAR, a gap of about +39% (undervalued). 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 7040?
No. The price is what the market pays today (82.15 SAR); the fair value is what the company's own numbers justify (114.35 SAR). For Etihad Atheeb Telecommunication the two are 32.20 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Etihad Atheeb Telecommunication worth?
The market values Etihad Atheeb Telecommunication at about 2.8B SAR (market capitalisation, as of Oct 3, 2026). Per share that is 82.15 SAR; our models calculate a fair value of 114.35 SAR per share.
What do the bullish and bearish scenarios say about 7040?
Our models span a range for Etihad Atheeb Telecommunication: cautious scenario 69.79 SAR, base 114.35 SAR, optimistic 139.86 SAR per share (as of Oct 3, 2026, price 82.15 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 7040?
Etihad Atheeb Telecommunication trades at a price-to-earnings ratio of 10.5 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 114.35 SAR is built from several models across several years. Other multiples: P/B 2.8, P/S 1.4, EV/EBITDA 6.8.
How solid is the balance sheet of Etihad Atheeb Telecommunication (7040)?
Balance-sheet figures for Etihad Atheeb Telecommunication (as of Oct 3, 2026): return on equity 28.3%, debt of 0.01 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 7040 from its 52-week high?
Etihad Atheeb Telecommunication trades at 82.15 SAR, about 26% below its 52-week high of 111.70 SAR and 2% above the low of 80.90 SAR (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 114.35 SAR is for.
Which stocks are comparable to Etihad Atheeb Telecommunication?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, 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 Etihad Atheeb Telecommunication stock attractive at the current price?
The data as of Oct 3, 2026: price 82.15 SAR, calculated fair value 114.35 SAR (+39%), Quality Score 51/100, from 24 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 7040 calculated?
We run Etihad Atheeb Telecommunication through 24 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 114.35 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 14.9 % above its aggregate fair value. Etihad Atheeb Telecommunication currently trades 28 % 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 is the share price of Etihad Atheeb Telecommunication (7040)?
The closing price on Oct 1, 2026 was 82.15 SAR. Our model-based fair value is 114.35 SAR, about +39% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Etihad Atheeb Telecommunication right now?
Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (69.79 SAR to 139.86 SAR) leaves room in how you read the outcome.
Key figures of Etihad Atheeb Telecommunication
How large is the market capitalisation of Etihad Atheeb Telecommunication (7040)?
The market capitalisation of Etihad Atheeb Telecommunication is 2.8B SAR (≈ $744M). 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 Etihad Atheeb Telecommunication (7040)?
The price-to-sales ratio of Etihad Atheeb Telecommunication is 1.42 (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 Etihad Atheeb Telecommunication (7040)?
Earnings per share at Etihad Atheeb Telecommunication are 7.81 SAR (price ÷ EPS = P/E 10.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Etihad Atheeb Telecommunication (7040)?
The dividend yield of Etihad Atheeb Telecommunication is 0.4% (payout 3.8%). 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 Etihad Atheeb Telecommunication (7040)?
The net margin of Etihad Atheeb Telecommunication is 13.5% (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 Etihad Atheeb Telecommunication (7040)?
The return on equity (ROE) of Etihad Atheeb Telecommunication is 28.3% (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 Etihad Atheeb Telecommunication (7040)?
On an EBIT basis the return on assets of Etihad Atheeb Telecommunication is 9.7% (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 Etihad Atheeb Telecommunication (7040)?
The operating margin of Etihad Atheeb Telecommunication is 13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Etihad Atheeb Telecommunication (7040)?
Revenue at Etihad Atheeb Telecommunication is growing +25.2% versus a year earlier (3y avg +44.9%). 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 Etihad Atheeb Telecommunication (7040)?
Earnings per share at Etihad Atheeb Telecommunication are growing +10.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Etihad Atheeb Telecommunication (7040) hold?
Etihad Atheeb Telecommunication holds more cash than debt, 493M SAR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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