Miral Dental Clinics Co. (9604) fair value: what the stock is really worth
As of Oct 29, 2026: fair value (intrinsic value) of Miral Dental Clinics Co. stock SAR 180, price SAR 87.40, upside +106.3%, quality 65 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
29‑month range 70.26 SAR – 131.56 SAR · fair‑value band 119.27 SAR – 234.41 SAR · the 87.40 SAR price screens below the 180.32 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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Miral Dental Company provides dental services in Saudi Arabia. The company is based in Riyadh, Saudi Arabia.
Stock analysis
Miral Dental Clinics Co. (9604) currently trades at 87.40 SAR, while our model-based Fair Value estimate is 180.32 SAR, implying the stock looks roughly 51.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 192.19 SAR per share, and 22 of the 24 models we run sit above the 87.40 SAR price.
Bear case: the Asset-Based group reads lowest at 23.48 SAR, and 2 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 119.27 SAR (bear) to 234.41 SAR (bull), the price of 87.40 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 65/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Miral Dental Clinics Co. reported revenue of 83.0M SAR in FY2025 versus 58.5M SAR in FY2022, a compound +12.4%/yr. Reported net income was 18.4M SAR in FY2025, compounding +17.8%/yr from FY2022.
Key figures
Market cap 175M SAR (≈ $46.6M) Micro · P/E ratio 9.4 · P/S ratio 2.07 · EPS (TTM) 9.34 SAR · Net margin 22.1% · Return on assets (EBIT) 23.7% · Free cash flow 17.9M SAR · Net cash 2.2M SAR.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 87 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 2% fair-value upside, at 106%, 9604 screens cheaper than that median.
Fair Value models
Bear119.27 SARFair Value 180.32 SARBull234.41 SAR
Price 87.40 SAR · Upside +106.3%
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 (7.75 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.87/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.5%
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.
+12.4%
’22
’23
’24
’25
What shareholders gained per year (last 3 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+19.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.8%
Dividend (yield on the price)0.0%
Profit margin 2022 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.22% → 23%
2025 sits 54% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
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).
−10.1%
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 −12.0% a year for the price.
Compare Miral Dental Clinics 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.Medical Care Facilities · 242 stocks
Beats the industry median on 8/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+106.3% · Top 25%
Profitability
Return on assets17.2% · Top 25%
Net margin (12 months)22.1% · Top 25%
Operating margin (12 months)0.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)0.0% · Below median
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
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Is Miral Dental Clinics Co. (9604) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 180.32 SAR versus a price of 87.40 SAR, about +106% upside (undervalued).
What is the fair value of 9604?
Our model-based fair value for Miral Dental Clinics Co. is 180.32 SAR (as of Oct 29, 2026), built from audited fundamentals. The current price: 87.40 SAR.
What is the quality score of 9604?
Miral Dental Clinics 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 price target for Miral Dental Clinics Co. (9604)?
Our model-based price target is the fair value of 180.32 SAR (as of Oct 29, 2026) from 24 valuation models. Cautious scenario 119.27 SAR, optimistic scenario 234.41 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Miral Dental Clinics Co. stock forecast for 2026?
Our models put fair value at 180.32 SAR, about +106% upside versus a price of 87.40 SAR (undervalued). Cautious scenario 119.27 SAR, optimistic scenario 234.41 SAR. The calculation is refreshed regularly with new filings.
What growth is priced into Miral Dental Clinics Co. (9604)?
For today's price to be fair in a discounted-cash-flow model, Miral Dental Clinics Co. would have to grow free cash flow by -10.1 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +12.4 % per year. As of Oct 29, 2026.
What discount rate (WACC) does the fair value of 9604 use?
Our models discount Miral Dental Clinics Co. at 10.3 %: a base by market capitalisation (nano), 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 Miral Dental Clinics Co. that is -10.1 % 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 Miral Dental Clinics Co. (9604) delivered so far?
Over the past 3 years revenue at Miral Dental Clinics Co. grew +12.4 % a year. The price currently implies -10.1 % 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 Miral Dental Clinics Co. (9604) growing?
The median revenue growth in the sector is +3.7 % a year. That is the yardstick for the growth priced into Miral Dental Clinics Co. (-10.1 % 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 Miral Dental Clinics Co. (9604)?
The free-cash-flow yield on the price is 10.23 %: that much free cash flow Miral Dental Clinics Co. 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 Miral Dental Clinics Co. (9604)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Miral Dental Clinics Co. it is 180.32 SAR per share (as of Oct 29, 2026), against a price of 87.40 SAR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Miral Dental Clinics Co. stock overvalued or undervalued in 2026?
As of Oct 29, 2026, 9604 trades below its calculated fair value: price 87.40 SAR, fair value 180.32 SAR, a gap of about +106% (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 9604?
No. The price is what the market pays today (87.40 SAR); the fair value is what the company's own numbers justify (180.32 SAR). For Miral Dental Clinics Co. the two are 92.92 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Miral Dental Clinics Co. worth?
The market values Miral Dental Clinics Co. at about 175M SAR (market capitalisation, as of Oct 29, 2026). Per share that is 87.40 SAR; our models calculate a fair value of 180.32 SAR per share.
What do the bullish and bearish scenarios say about 9604?
Our models span a range for Miral Dental Clinics Co.: cautious scenario 119.27 SAR, base 180.32 SAR, optimistic 234.41 SAR per share (as of Oct 29, 2026, price 87.40 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9604?
Miral Dental Clinics Co. trades at a price-to-earnings ratio of 9.4 (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 180.32 SAR is built from several models across several years. Other multiples: P/B 0.6, EV/EBITDA 1.5.
How far is 9604 from its 52-week high?
Miral Dental Clinics Co. trades at 87.40 SAR, about 20% below its 52-week high of 109.77 SAR and at the low of 87.00 SAR (as of Oct 29, 2026). Distance from the high says nothing about value: that is what the fair value of 180.32 SAR is for.
Which stocks are comparable to Miral Dental Clinics Co.?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Tenet Healthcare Corporation, Dr. Sulaiman Al Habib Medical Services Group, 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 Miral Dental Clinics Co. stock attractive at the current price?
The data as of Oct 29, 2026: price 87.40 SAR, calculated fair value 180.32 SAR (+106%), Quality Score 65/100, 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 9604 calculated?
We run Miral Dental Clinics 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 180.32 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 13.1 % above its aggregate fair value. Miral Dental Clinics Co. currently trades 52 % 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 Miral Dental Clinics Co. (9604)?
The closing price on Oct 29, 2026 was 87.40 SAR. Our model-based fair value is 180.32 SAR, about +106% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Miral Dental Clinics Co. right now?
The price is below even our cautious bear case (119.27 SAR). The market is more pessimistic than our downside scenario. Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (119.27 SAR to 234.41 SAR) leaves room in how you read the outcome.
Key figures of Miral Dental Clinics Co.
How large is the market capitalisation of Miral Dental Clinics Co. (9604)?
The market capitalisation of Miral Dental Clinics Co. is 175M SAR (≈ $46.6M). 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 Miral Dental Clinics Co. (9604)?
The price-to-sales ratio of Miral Dental Clinics Co. is 2.07 (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 Miral Dental Clinics Co. (9604)?
Earnings per share at Miral Dental Clinics Co. are 9.34 SAR (price ÷ EPS = P/E 9.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Miral Dental Clinics Co. (9604)?
The net margin of Miral Dental Clinics Co. is 22.1% (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 EBIT return on assets of Miral Dental Clinics Co. (9604)?
On an EBIT basis the return on assets of Miral Dental Clinics Co. is 23.7% (avg 4y). 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.
How much net cash does Miral Dental Clinics Co. (9604) hold?
Miral Dental Clinics Co. holds more cash than debt, 2.2M SAR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Oct 29, 2026