Naseej for Communication and Information Technology Co. (9538) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Naseej for Communication and Information Technology Co. stock SAR 24.19, price SAR 16.00, upside +51.2%, quality 58 out of 100. Rating: strongly undervalued. 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. As of Oct 29, 2026.
How to read this chart
53‑month range 16.00 SAR – 1,000,000 SAR · fair‑value band 18.12 SAR – 30.26 SAR · the 16.00 SAR price screens below the 24.19 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.
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Naseej for Technology Co. engages in providing databases and information system services. It offers internet, electronic communications, maintenance of computer devices and network services, as well as wholesale and retails library equipment and office furniture.
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In addition, it provides education portfolio solutions, comprising campus and learning management, institutional effectiveness management, digital educational content development, training and talent management.
Further, the company offers knowledge asset management solutions, including information and library management, smart solutions and robotics, museums and historical archives management, digitizing and curation services, cultural digital advisory, electronic information resources and knowledge and antiquities management.
Additionally, it provides business solutions, such as digital experience platforms, business process automation, data management, and managed IT services. Naseej for Technology Co. was founded in 1989 and is headquartered in Riyadh, Saudi Arabia.
Stock analysis
Naseej for Communication and Information Technology Co. (9538) currently trades at 16.00 SAR, while our model-based Fair Value estimate is 24.19 SAR, implying the stock looks roughly 33.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 34.26 SAR per share, and 17 of the 24 models we run sit above the 16.00 SAR price.
Bear case: the Earnings-Based group reads lowest at 8.29 SAR, and 7 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 18.12 SAR (bear) to 30.26 SAR (bull), the price of 16.00 SAR sits below 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 58/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Naseej for Communication and Information Technology Co. 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.
Key figures
Market cap 120M SAR (≈ $31.9M) Micro · P/E ratio 23.2 · P/S ratio 0.53 · EPS (TTM) 0.6900 SAR · Dividend yield 0.2% · Net margin 3.2% · Return on equity 5.5% · Return on assets (EBIT) 8.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (medium confidence).
What moves the price
The share trades about 52% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 35% fair-value upside, at 51%, 9538 screens cheaper than that median.
Fair Value models
Bear18.12 SARFair Value 24.19 SARBull30.26 SAR
Price 16.00 SAR · Upside +51.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.5709 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.Coverage ⓘCoverage = 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.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−7.8%
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.
+1.9%
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.
+2.1%
Start year 2020 (pandemic)
Revenue growth 6 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.
+4.2%
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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. Basis: EBIT basis.
−2.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.5%
Dividend (yield on the price)0.2%
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.6% → 5%
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).
−31.3%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −32.7% a year for the price.
Compare Naseej for Communication and Information Technology Co. with another stock
Price, fair value, quality and upside side by side.
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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.Information Technology Services · 464 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+51.2% · Above median
Profitability
Return on equity (12 months)5.5% · Below median
Return on assets1.7% · Below median
Net margin (12 months)3.2% · Below median
Operating margin (12 months)4.7% · Below median
Growth and dividend
Revenue growth (quarter YoY)−0.7% · Below median
Dividend yield (12 months)0.2% · Bottom 25%
Valuation Multiplesvs Information Technology Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Naseej for Communication and Information Technology Co. Fair Value". https://www.fairvalue-calculator.com/stock/9538
Frequently asked questions
Is Naseej for Communication and Information Technology Co. (9538) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 24.19 SAR versus a price of 16.00 SAR, about +51% upside (undervalued).
What is the fair value of 9538?
Our model-based fair value for Naseej for Communication and Information Technology Co. is 24.19 SAR (as of Oct 29, 2026), built from audited fundamentals. The current price: 16.00 SAR.
What is the quality score of 9538?
Naseej for Communication and Information Technology Co. has a Quality Score of 58/100. 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 Naseej for Communication and Information Technology Co. (9538)?
Our model-based price target is the fair value of 24.19 SAR (as of Oct 29, 2026) from 24 valuation models. Cautious scenario 18.12 SAR, optimistic scenario 30.26 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Naseej for Communication and Information Technology Co. stock forecast for 2026?
Our models put fair value at 24.19 SAR, about +51% upside versus a price of 16.00 SAR (undervalued). Cautious scenario 18.12 SAR, optimistic scenario 30.26 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Naseej for Communication and Information Technology Co. (9538)?
Naseej for Communication and Information Technology Co. reported trailing-twelve-month revenue of about 227M SAR (latest available figure, as of Oct 29, 2026).
Does Naseej for Communication and Information Technology Co. pay a dividend?
Naseej for Communication and Information Technology Co. currently shows a dividend yield of 0.18% relative to its recent price (as of Oct 29, 2026).
What growth is priced into Naseej for Communication and Information Technology Co. (9538)?
For today's price to be fair in a discounted-cash-flow model, Naseej for Communication and Information Technology Co. would have to grow free cash flow by -31.3 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.1 % per year. As of Oct 29, 2026.
What discount rate (WACC) does the fair value of 9538 use?
Our models discount Naseej for Communication and Information Technology Co. at 9.0 %: a base by market capitalisation (nano), damped by beta 0.10, 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 Naseej for Communication and Information Technology Co. that is -31.3 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Naseej for Communication and Information Technology Co. (9538) delivered so far?
Over the past 5 years revenue at Naseej for Communication and Information Technology Co. grew +2.1 % a year. The price currently implies -31.3 % 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 Naseej for Communication and Information Technology Co. (9538) growing?
The median revenue growth in the sector is +10.8 % a year. That is the yardstick for the growth priced into Naseej for Communication and Information Technology Co. (-31.3 % 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 Naseej for Communication and Information Technology Co. (9538)?
The free-cash-flow yield on the price is 26.26 %: that much free cash flow Naseej for Communication and Information Technology Co. produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Naseej for Communication and Information Technology Co. (9538)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Naseej for Communication and Information Technology Co. it is 24.19 SAR per share (as of Oct 29, 2026), against a price of 16.00 SAR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Naseej for Communication and Information Technology Co. stock overvalued or undervalued in 2026?
As of Oct 29, 2026, 9538 trades below its calculated fair value: price 16.00 SAR, fair value 24.19 SAR, a gap of about +51% (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 9538?
No. The price is what the market pays today (16.00 SAR); the fair value is what the company's own numbers justify (24.19 SAR). For Naseej for Communication and Information Technology Co. the two are 8.19 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Naseej for Communication and Information Technology Co. worth?
The market values Naseej for Communication and Information Technology Co. at about 120M SAR (market capitalisation, as of Oct 29, 2026). Per share that is 16.00 SAR; our models calculate a fair value of 24.19 SAR per share.
What do the bullish and bearish scenarios say about 9538?
Our models span a range for Naseej for Communication and Information Technology Co.: cautious scenario 18.12 SAR, base 24.19 SAR, optimistic 30.26 SAR per share (as of Oct 29, 2026, price 16.00 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9538?
Naseej for Communication and Information Technology Co. trades at a price-to-earnings ratio of 23.2 (as of Oct 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 24.19 SAR is built from several models across several years. Other multiples: P/B 0.9, P/S 0.5, EV/EBITDA 6.1.
How solid is the balance sheet of Naseej for Communication and Information Technology Co. (9538)?
Balance-sheet figures for Naseej for Communication and Information Technology Co. (as of Oct 29, 2026): return on equity 5.5%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 9538 from its 52-week high?
Naseej for Communication and Information Technology Co. trades at 16.00 SAR, about 52% below its 52-week high of 33.33 SAR and at the low of 16.00 SAR (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 24.19 SAR is for.
Which stocks are comparable to Naseej for Communication and Information Technology Co.?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys 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 Naseej for Communication and Information Technology Co. stock attractive at the current price?
The data as of Oct 29, 2026: price 16.00 SAR, calculated fair value 24.19 SAR (+51%), Quality Score 58/100, 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 9538 calculated?
We run Naseej for Communication and Information Technology Co. 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 24.19 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 13.4 % above its aggregate fair value. Naseej for Communication and Information Technology Co. currently trades 34 % 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 Naseej for Communication and Information Technology Co. (9538)?
The closing price on Oct 28, 2026 was 16.00 SAR. Our model-based fair value is 24.19 SAR, about +51% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Naseej for Communication and Information Technology Co. right now?
The price is below even our cautious bear case (18.12 SAR). The market is more pessimistic than our downside scenario. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Naseej for Communication and Information Technology Co.
How large is the market capitalisation of Naseej for Communication and Information Technology Co. (9538)?
The market capitalisation of Naseej for Communication and Information Technology Co. is 120M SAR (≈ $31.9M). 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 Naseej for Communication and Information Technology Co. (9538)?
The price-to-sales ratio of Naseej for Communication and Information Technology Co. is 0.53 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Naseej for Communication and Information Technology Co. (9538)?
Earnings per share at Naseej for Communication and Information Technology Co. are 0.6900 SAR (price ÷ EPS = P/E 23.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Naseej for Communication and Information Technology Co. (9538)?
The dividend yield of Naseej for Communication and Information Technology Co. is 0.2% (payout 4.1%). 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 Naseej for Communication and Information Technology Co. (9538)?
The net margin of Naseej for Communication and Information Technology Co. is 3.2% (last twelve months). 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 Naseej for Communication and Information Technology Co. (9538)?
The return on equity (ROE) of Naseej for Communication and Information Technology Co. is 5.5% (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 Naseej for Communication and Information Technology Co. (9538)?
On an EBIT basis the return on assets of Naseej for Communication and Information Technology Co. is 8.2% (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 Naseej for Communication and Information Technology Co. (9538)?
The operating margin of Naseej for Communication and Information Technology Co. is 4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Naseej for Communication and Information Technology Co. (9538)?
Revenue at Naseej for Communication and Information Technology Co. is growing −0.7% versus a year earlier (3y avg +1.9%). 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 Naseej for Communication and Information Technology Co. (9538)?
Earnings per share at Naseej for Communication and Information Technology Co. are growing +19.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Naseej for Communication and Information Technology Co. (9538) hold?
Naseej for Communication and Information Technology Co. holds more cash than debt, 29.6M SAR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 29, 2026