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9538 Fair Value & Analysis

Technology · Market cap 178M SAR

9 9538 9538 · SR
Price23.00 SAR
Fair Value13.34 SAR
Upside-42.0%
Quality44/100
Mixed Growth
Thin margins · 2.3% net margin
generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 26/100
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Evidence: High Range 10.00 SAR – 16.67 SAR Share as image

Fair value as of: Jul 31, 2026

From 24 valuation models · updated today

Share price +5.5% over the past month.

What matters now

  • The price sits above even our optimistic bull case (16.67 SAR). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (12 months)

1,000,000 SAR 21.50 SAR Fair Value 13.34 SAR Aug 2025 Jul 2026

12‑month range 21.50 SAR – 1,000,000 SAR · fair‑value band 10.00 SAR – 16.67 SAR · the 23.00 SAR price screens above the 13.34 SAR fair value. As of Jul 31, 2026.

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Analysis

9538 (9538) currently trades at 23.00 SAR, while our model-based Fair Value estimate is 13.34 SAR, implying the stock looks roughly 42.0% overvalued today. We read business quality at 44/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, 9538 generated revenue of 228M SAR at a net margin of 2.3%. Revenue declined 11.1% year over year. It earns a return on equity of 4.3%. The balance sheet holds a net cash position of 29.6M SAR. Fundamentals as of Jul 31, 2026

Our scenario range runs from 10.00 SAR (bear case) to 16.67 SAR (bull case); at 23.00 SAR, the current price sits above that range. For context, the median of 10 Technology peers we cover trades at 6% fair-value upside, at -42%, 9538 screens richer than that median.

Key figures & financial health

Revenue (TTM) 228M SAR
Revenue growth (YoY) -11.1%
Net margin 2.3%
Return on equity 4.3%
Free cash flow 21.0M SAR FY2025
P/E ratio 33.3
More key figures
Operating margin 6.6%
EPS (TTM) 0.6900 SAR
EPS growth (YoY) +5.7%
Net cash 29.6M SAR FY2025

Figures from reported company fundamentals · as of Jul 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100
Profitability 33
Quality Growth 32
Cashflow 72
Fin. Strength 60
Investment 73
Low Volatility 50
Momentum 13
52W Momentum 0
Net Issuance 92

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.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

9538 reported revenue of 228M SAR in FY2025 versus 194M SAR in FY2021, a compound +4.0%/yr. Reported net income was 5.2M SAR in FY2025, compounding −29.4%/yr from FY2021.

Revenue +4.0%/yr
FY21 194M SAR
FY22 215M SAR
FY23 215M SAR
FY24 247M SAR
FY25 228M SAR
Net income −29.4%/yr
FY21 20.7M SAR
FY22 21.9M SAR
FY23 13.0M SAR
FY24 4.1M SAR
FY25 5.2M SAR

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Cite: Fair Value Calculator (2026). "9538 Fair Value". https://www.fairvalue-calculator.com/stock/9538

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.

VALUE 0 / 18
FUTURE 0 / 29
PAST 17 / 32
HEALTH 0 / 97
DIVIDEND 0 / 37

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM C$38.97 C$32.10 -18%
Accenture plc ACNN 2,981 MXN 250.14 MXN -92%
Tata Consultancy Services Limited TCS ₹2,199 ₹1,863 -15%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,155 ₹1,220 +6%
Fiserv, Inc F1IS34 R$138.03 R$210.65 +53%
Cognizant Technology Solutions Corporation CTSH 961.80 MXN 94.31 MXN -90%
Wipro Limited WIPRO ₹180.18 ₹247.85 +38%
Tech Mahindra Limited TECHM ₹1,484 ₹987.96 -33%
LTM Limited LTM ₹3,830 ₹4,115 +7%

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Frequently asked questions

Is 9538 overvalued or undervalued?
As of Jul 31, 2026, our model estimates a fair value of 13.34 SAR versus a price of 23.00 SAR, about −42% (overvalued).
What is the fair value of 9538?
Our model-based fair value for 9538 is 13.34 SAR (as of Jul 31, 2026), built from audited fundamentals. The current price is 23.00 SAR.
What is the quality score of 9538?
9538 has a Quality Score of 44/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of 9538?
9538 reported trailing-twelve-month revenue of about 228M SAR (latest available figure, as of Jul 31, 2026).
What is the net profit margin of 9538?
The net profit margin of 9538 is about 2.3%, meaning it keeps roughly 2.3% of revenue as net income. Based on the latest reported figures.

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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