Al-Rajhi Cooperative Insurance (8230) fair value: what the stock is really worth
We calculate from audited financials what Al-Rajhi Cooperative Insurance 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 13.44 SAR – 1,000,000 SAR · fair‑value band 17.00 SAR – 28.33 SAR · the 55.85 SAR price screens above the 22.66 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.
Al Rajhi Company for Cooperative Insurance provides various insurance products and services to individuals and businesses in the Kingdom of Saudi Arabia. The company operates in four segments: Medical, Motor, Property and Casualty, and Protection and Savings.
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Al Rajhi Company for Cooperative Insurance provides various insurance products and services to individuals and businesses in the Kingdom of Saudi Arabia. The company operates in four segments: Medical, Motor, Property and Casualty, and Protection and Savings. It offers motor, travel, visa extension, medical malpractice, protection and savings, domestic helper health, home and contents, domestic worker contract, and cyber insurance products, as well as fire and engineering insurance. The company also provides health, fidelity guarantee, group life, trade credit, workmen's compensation and employers liability, property all risks, contractors all risks, contractor plant and machinery, marine, civil liability for populated areas and risk, and public liability insurance products. In addition, it is involved in the re-takaful/re-insurance, agency and all related activities. Al Rajhi Company for Cooperative Insurance was founded in 2008 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.
Stock analysis
Al-Rajhi Cooperative Insurance (8230) currently trades at 55.85 SAR, while our model-based Fair Value estimate is 22.66 SAR, implying the stock looks roughly 146.5% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 18.99 SAR per share, and 0 of the 4 models we run sit above the 55.85 SAR price.
Bear case: the Asset-Based group reads lowest at 8.49 SAR, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.
Scenario range: 17.00 SAR (bear) to 28.33 SAR (bull), the price of 55.85 SAR sits above 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 39/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Al-Rajhi Cooperative Insurance reported revenue of 4.5B SAR in FY2025 versus 2.4B SAR in FY2021, a compound +17.5%/yr. Reported net income was 455M SAR in FY2025, compounding +43.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 9.7B SAR (≈ $2.6B) · P/E ratio 23.4 · P/S ratio 2.34 · EPS (TTM) 2.39 SAR · Net margin 10.0% · Return on equity 19.8% · Return on assets (EBIT) 3.0% · Operating margin 15.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
For context, the median of 10 Financial Services peers we cover trades at −14% fair-value upside, at −59%, 8230 screens richer than that median.
Fair Value models
Bear 17.00 SARFair Value 22.66 SARBull 28.33 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 (1.68 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+29.4%
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.
+13.5%
Revenue growth 14 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.
+20.5%
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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.
+10.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.9%
Dividend (yield on the price)0.0%
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.11% vs 16%, slowing
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.11% → 10%
Compare Al-Rajhi Cooperative Insurance 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.Insurance - Property & Casualty · 119 stocks
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Is Al-Rajhi Cooperative Insurance (8230) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 22.66 SAR versus a price of 55.85 SAR, about −59% upside (overvalued).
What is the fair value of 8230?
Our model-based fair value for Al-Rajhi Cooperative Insurance is 22.66 SAR (as of Sep 13, 2026), built from audited fundamentals. The current price: 55.85 SAR.
What is the quality score of 8230?
Al-Rajhi Cooperative Insurance has a Quality Score of 39/100. 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 Al-Rajhi Cooperative Insurance (8230)?
Our model-based price target is the fair value of 22.66 SAR (as of Sep 13, 2026) from 4 valuation models. Cautious scenario 17.00 SAR, optimistic scenario 28.33 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Al-Rajhi Cooperative Insurance stock forecast for 2026?
Our models put fair value at 22.66 SAR, about −59% upside versus a price of 55.85 SAR (overvalued). Cautious scenario 17.00 SAR, optimistic scenario 28.33 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Al-Rajhi Cooperative Insurance (8230)?
Al-Rajhi Cooperative Insurance reported trailing-twelve-month revenue of about 5.6B SAR (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Al-Rajhi Cooperative Insurance (8230)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Al-Rajhi Cooperative Insurance it is 22.66 SAR per share (as of Sep 13, 2026), against a price of 55.85 SAR. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Al-Rajhi Cooperative Insurance stock overvalued or undervalued in 2026?
As of Sep 13, 2026, 8230 trades above its calculated fair value: price 55.85 SAR, fair value 22.66 SAR, a gap of about −59% (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 8230?
No. The price is what the market pays today (55.85 SAR); the fair value is what the company's own numbers justify (22.66 SAR). For Al-Rajhi Cooperative Insurance the two are 33.19 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Al-Rajhi Cooperative Insurance worth?
The market values Al-Rajhi Cooperative Insurance at about 9.7B SAR (market capitalisation, as of Sep 13, 2026). Per share that is 55.85 SAR; our models calculate a fair value of 22.66 SAR per share.
What do the bullish and bearish scenarios say about 8230?
Our models span a range for Al-Rajhi Cooperative Insurance: cautious scenario 17.00 SAR, base 22.66 SAR, optimistic 28.33 SAR per share (as of Sep 13, 2026, price 55.85 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8230?
Al-Rajhi Cooperative Insurance trades at a price-to-earnings ratio of 23.4 (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 22.66 SAR is built from several models across several years. Other multiples: P/B 1.0, P/S 0.5, EV/EBITDA 2.8.
How solid is the balance sheet of Al-Rajhi Cooperative Insurance (8230)?
Balance-sheet figures for Al-Rajhi Cooperative Insurance (as of Sep 13, 2026): return on equity 19.8%. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
Which stocks are comparable to Al-Rajhi Cooperative Insurance?
From the same area (Financial Services) we also value The Progressive Corporation, Chubb Limited, The Travelers Companies, Inc, The Allstate 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 Al-Rajhi Cooperative Insurance stock attractive at the current price?
The data as of Sep 13, 2026: price 55.85 SAR, calculated fair value 22.66 SAR (−59%), Quality Score 39/100, from 4 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 8230 calculated?
We run Al-Rajhi Cooperative Insurance through 4 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 22.66 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. Al-Rajhi Cooperative Insurance 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 Al-Rajhi Cooperative Insurance right now?
The price sits above even our optimistic bull case (28.33 SAR). The favourable scenario is already priced in. Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Al-Rajhi Cooperative Insurance (8230) come from?
Earnings per share at Al-Rajhi Cooperative Insurance grew +12.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.1 %, EBIT margin +6.5 %, tax rate +1.0 %, residual (interest, one-offs) −0.7 %. 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 Al-Rajhi Cooperative Insurance
How large is the market capitalisation of Al-Rajhi Cooperative Insurance (8230)?
The market capitalisation of Al-Rajhi Cooperative Insurance is 9.7B SAR (≈ $2.6B). 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 Al-Rajhi Cooperative Insurance (8230)?
The price-to-sales ratio of Al-Rajhi Cooperative Insurance is 2.34 (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 Al-Rajhi Cooperative Insurance (8230)?
Earnings per share at Al-Rajhi Cooperative Insurance are 2.39 SAR (price ÷ EPS = P/E 23.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Al-Rajhi Cooperative Insurance (8230)?
The net margin of Al-Rajhi Cooperative Insurance is 10.0% (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 Al-Rajhi Cooperative Insurance (8230)?
The return on equity (ROE) of Al-Rajhi Cooperative Insurance is 19.8% (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 Al-Rajhi Cooperative Insurance (8230)?
On an EBIT basis the return on assets of Al-Rajhi Cooperative Insurance is 3.0% (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 Al-Rajhi Cooperative Insurance (8230)?
The operating margin of Al-Rajhi Cooperative Insurance is 15.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Al-Rajhi Cooperative Insurance (8230)?
Revenue at Al-Rajhi Cooperative Insurance is growing +36.1% versus a year earlier (3y avg +23.1%). 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 Al-Rajhi Cooperative Insurance (8230)?
Earnings per share at Al-Rajhi Cooperative Insurance are growing +25.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Al-Rajhi Cooperative Insurance (8230) generate?
The free cash flow of Al-Rajhi Cooperative Insurance is −532M 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 cash does Al-Rajhi Cooperative Insurance (8230) hold?
Al-Rajhi Cooperative Insurance holds more cash than debt, 521M SAR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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