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Digital Research Company (9621) fair value: what the stock is really worth

As of Oct 29, 2026: fair value (intrinsic value) of Digital Research Company stock SAR 6.60, price SAR 14.00, upside -52.9%, quality 28 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Industrials SA

DR Digital Research Company logo Thin data Oct 29, 2026

Digital Research Company

9621 · SR
Very expensive, weak quality

Our calculation puts a fair price 53% below what the stock costs today.

Expensive Growth (revenue 5y +19.3 %/yr in SAR)
Revenue last quarter 46% below a year ago.
Fair value 6.60 SAR · Strongly overvalued (−52.9%)
Quality 28/100
Loss-making · -25.1% net margin (TTM)
Negative free cash flow
Trails peers (3/10)
Narrow moat 10/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

47.37 SAR 13.70 SAR Fair Value 6.60 SAR Dec 2024 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 29, 2026.

How to read this chart

23‑month range 13.70 SAR – 47.37 SAR · fair‑value band 4.35 SAR – 8.25 SAR · the 14.00 SAR price screens above the 6.60 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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Company profile

Digital Research Company, a consulting company, provides market research, consulting, and data analytics services in the Kingdom of Saudi Arabia and internationally.

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The company offers market research solutions, including brand and communications, corporate reputation, customer experience, product, proposition and pricing, market sizing, media habits, events and visitor research, market segmentation, usage and attitude, idea generation research, employee engagement, and UX/UI design research; and data and insights solutions.

The company also provides consulting services, such as strategy, performance management, commercial advisory, sales and customer excellence, organizational transformation, and economics advisory.

Digital Research Company was incorporated in 2014 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.

Stock analysis

Digital Research Company (9621) currently trades at 14.00 SAR, while our model-based Fair Value estimate is 6.60 SAR, 52.9% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 91/100, which puts the data coverage at low.

Scenario range: 4.35 SAR (bear) to 8.25 SAR (bull), the price of 14.00 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 28/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Digital Research Company reported revenue of 47.3M SAR in FY2025 versus 32.5M SAR in FY2021, a compound +9.8%/yr. Reported net income was −5.3M SAR in FY2025.

Key figures

Market cap 41.3M SAR (≈ $11.0M) Micro · P/S ratio 1.13 · EPS (TTM) −3.30 SAR · Dividend yield 9.7% · Net margin −25.1% · Return on equity −31.6% · Return on assets (EBIT) 2.9% · Operating margin −56.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).

What moves the price

The share trades about 50% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −3% fair-value upside, at −53%, 9621 screens richer than that median.

Fair Value models

Bear 4.35 SAR Fair Value 6.60 SAR Bull 8.25 SAR
Price 14.00 SAR · Upside -52.9%
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. 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.
Best data coverage
NCAV (Graham) 4.35 SAR 6.60 SAR 8.25 SAR 52
All 1 models by family
Asset-Based
NCAV (Graham) 4.35 SAR 6.60 SAR 8.25 SAR 52

Open the full fair value analysis →

Quality Score breakdown

Overall quality 28/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 18
How much profit the company makes from its sales and capital
Quality Growth 0
Are margins and returns getting better?
Cashflow 10
Do the profits arrive as real cash?
Financial strength 87
Debt, balance sheet and risk of trouble
Investment 36
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Momentum 20
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−25.0%
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.
+21.0%
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.
+19.3%
Start year 2020 (pandemic)
Profit margin (trend) ⓘ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.
−15.0% (2020) → −8.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

9621 screens overvalued: fair value 53% below the price. Compare with Verisk Analytics, Inc →

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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.Consulting Services · 74 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −52.9% · Bottom 25%
Profitability
Return on assets −9.5% · Bottom 25%
Net margin (12 months) −25.1% · Bottom 25%
Operating margin (12 months) −56.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −46.0% · Bottom 25%
Dividend yield (12 months) 9.7% · Top 25%

Valuation Multiplesvs Consulting Services median · lower = cheaper

P/B 1.31× · Cheaper than median
P/S (12 months) 1.13× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 47
FUTURE (revenue growth)0 · sector 11
PAST (return on equity)0 · sector 35
HEALTH (low debt)0 · sector 89
DIVIDEND (yield)100 · sector 63

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Consulting Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Booz Allen Hamilton Holding BAH $83.40 $159.98 +92% vs 9621
FTI Consulting, Inc FCN $158.59 $179.80 +13% vs 9621
Huron Consulting Group HURN $193.68 $213.05 +10% vs 9621
ICF International, Inc ICFI $95.39 $97.91 +3% vs 9621
Bureau Veritas SA BVI €28.88 €27.88 −3% vs 9621
DKSH Holding DKSH CHF 77.20 CHF 65.52 −15% vs 9621
Verisk Analytics, Inc VRSK $187.73 $146.55 −22% vs 9621
SGS SA SGSN CHF 103.50 CHF 70.45 −32% vs 9621
Equifax Inc EFX $175.71 $109.01 −38% vs 9621
ALS Limited ALQ A$20.45 A$11.18 −45% vs 9621

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Digital Research Company · Fair Value
6.60 SAR −53%Fair Value
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Cite: Fair Value Calculator (2026). "Digital Research Company Fair Value". https://www.fairvalue-calculator.com/stock/9621

Frequently asked questions

Is Digital Research Company (9621) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 6.60 SAR versus a price of 14.00 SAR, about −53% upside (overvalued).
What is the fair value of 9621?
Our model-based fair value for Digital Research Company is 6.60 SAR (as of Oct 29, 2026), built from audited fundamentals. The current price: 14.00 SAR.
What is the quality score of 9621?
Digital Research Company has a Quality Score of 28/100. 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 Digital Research Company (9621)?
Our model-based price target is the fair value of 6.60 SAR (as of Oct 29, 2026) from 1 valuation models. Cautious scenario 4.35 SAR, optimistic scenario 8.25 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Digital Research Company stock forecast for 2026?
Our models put fair value at 6.60 SAR, about −53% upside versus a price of 14.00 SAR (overvalued). Cautious scenario 4.35 SAR, optimistic scenario 8.25 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Digital Research Company (9621)?
Digital Research Company reported trailing-twelve-month revenue of about 36.5M SAR (latest available figure, as of Oct 29, 2026).
Does Digital Research Company pay a dividend?
Digital Research Company currently shows a dividend yield of 9.67% relative to its recent price (as of Oct 29, 2026).
What is the intrinsic value of Digital Research Company (9621)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Digital Research Company it is 6.60 SAR per share (as of Oct 29, 2026), against a price of 14.00 SAR. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Digital Research Company stock overvalued or undervalued in 2026?
As of Oct 29, 2026, 9621 trades above its calculated fair value: price 14.00 SAR, fair value 6.60 SAR, a gap of about −53% (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 9621?
No. The price is what the market pays today (14.00 SAR); the fair value is what the company's own numbers justify (6.60 SAR). For Digital Research Company the two are 7.40 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Digital Research Company worth?
The market values Digital Research Company at about 41.3M SAR (market capitalisation, as of Oct 29, 2026). Per share that is 14.00 SAR; our models calculate a fair value of 6.60 SAR per share.
What do the bullish and bearish scenarios say about 9621?
Our models span a range for Digital Research Company: cautious scenario 4.35 SAR, base 6.60 SAR, optimistic 8.25 SAR per share (as of Oct 29, 2026, price 14.00 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Digital Research Company (9621)?
Balance-sheet figures for Digital Research Company (as of Oct 29, 2026): return on equity −31.6%. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is 9621 from its 52-week high?
Digital Research Company trades at 14.00 SAR, about 50% below its 52-week high of 28.00 SAR and 2% above the low of 13.70 SAR (as of Oct 29, 2026). Distance from the high says nothing about value: that is what the fair value of 6.60 SAR is for.
Which stocks are comparable to Digital Research Company?
From the same area (Industrials) we also value Verisk Analytics, Inc, SGS SA, Equifax Inc, Bureau Veritas SA, 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 Digital Research Company stock attractive at the current price?
The data as of Oct 29, 2026: price 14.00 SAR, calculated fair value 6.60 SAR (−53%), Quality Score 28/100, from 1 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 9621 calculated?
We run Digital Research Company through 1 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 6.60 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. Digital Research Company 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 is the share price of Digital Research Company (9621)?
The closing price on Oct 29, 2026 was 14.00 SAR. Our model-based fair value is 6.60 SAR, about −53% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Digital Research Company right now?
The price sits above even our optimistic bull case (8.25 SAR). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (4.35 SAR to 8.25 SAR) leaves room in how you read the outcome.

Key figures of Digital Research Company

How large is the market capitalisation of Digital Research Company (9621)?
The market capitalisation of Digital Research Company is 41.3M SAR (≈ $11.0M). 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 Digital Research Company (9621)?
The price-to-sales ratio of Digital Research Company is 1.13 (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 Digital Research Company (9621)?
Earnings per share at Digital Research Company are −3.30 SAR. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Digital Research Company (9621)?
The dividend yield of Digital Research Company is 9.7%. 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 Digital Research Company (9621)?
The net margin of Digital Research Company is −25.1% (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 Digital Research Company (9621)?
The return on equity (ROE) of Digital Research Company is −31.6% (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 Digital Research Company (9621)?
On an EBIT basis the return on assets of Digital Research Company is 2.9% (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.
What is the operating margin of Digital Research Company (9621)?
The operating margin of Digital Research Company is −56.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Digital Research Company (9621)?
Revenue at Digital Research Company is growing −46.0% versus a year earlier (3y avg +21.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Digital Research Company (9621) generate?
The free cash flow of Digital Research Company is −1.6M 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 Digital Research Company (9621) hold?
Digital Research Company holds more cash than debt, 13.8M SAR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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