Dkhoun National Trading Company (9635) fair value: what the stock is really worth
As of Oct 25, 2026: fair value (intrinsic value) of Dkhoun National Trading Company stock SAR 103, price SAR 50.50, upside +103.3%, quality 55 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
17‑month range 50.50 SAR – 97.29 SAR · fair‑value band 59.88 SAR – 170.49 SAR · the 50.50 SAR price screens below the 102.68 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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Dkhoun National Trading Company engages in the retail sale of oud and incense, and perfumes under the Dkhoun brand in the Kingdom of Saudi Arabia and internationally.
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It is also involved in the general store stocking of various food products; manufacture of men's and women's perfumes; production of oud and oud oil; incense making; blending and packaging of perfumes, oils, and plants; purchase, sale, and subdivision of land and real estate; management and leasing of owned or rented residential properties; and real estate brokerage.
In addition, the company offers body perfumes, hair perfumes, home fragrances, boxes and gifts, and oud oil and perfumes. It offers its products through in-store and online stores. Dkhoun National Trading Company was incorporated in 2010 and is headquartered in Riyadh, Saudi Arabia.
Stock analysis
Dkhoun National Trading Company (9635) currently trades at 50.50 SAR, while our model-based Fair Value estimate is 102.68 SAR, implying the stock looks roughly 50.8% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 171.54 SAR per share, and 22 of the 24 models we run sit above the 50.50 SAR price.
Bear case: the Asset-Based group reads lowest at 21.42 SAR, and 2 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 59.88 SAR (bear) to 170.49 SAR (bull), the price of 50.50 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 55/100 (solid quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Dkhoun National Trading Company reported revenue of 80.1M SAR in FY2025 versus 13.2M SAR in FY2022, a compound +82.7%/yr. Reported net income was 7.5M SAR in FY2025, compounding +58.4%/yr from FY2022.
Key figures
Market cap 101M SAR (≈ $26.9M) Micro · P/E ratio 20.4 · P/S ratio 1.15 · EPS (TTM) 2.47 SAR · Dividend yield 5.9% · Net margin 5.6% · Return on equity 8.2% · Return on assets (EBIT) 13.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
The share trades about 29% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −35% fair-value upside, at 103%, 9635 screens cheaper than that median.
Fair Value models
Bear59.88 SARFair Value 102.68 SARBull170.49 SAR
Price 50.50 SAR · Upside +103.3%
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.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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+300.9%
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.
+82.7%
’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.
+64.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+58.4%
Dividend (yield on the price)5.9%
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.15% → 13%
2025 sits 151% 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).
+10.0%
Yearly growth needed for the next five years to justify today's price.
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 +7.7% a year for the price.
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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.Household & Personal Products · 237 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Below median
Fair Value upside+103.3% · Top 25%
Profitability
Return on equity (12 months)8.2% · Above median
Return on assets6.2% · Above median
Net margin (12 months)5.6% · Above median
Operating margin (12 months)7.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)20.1% · Top 25%
Dividend yield (12 months)5.9% · Top 25%
Valuation Multiplesvs Household & Personal Products 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). "Dkhoun National Trading Company Fair Value". https://www.fairvalue-calculator.com/stock/9635
Frequently asked questions
Is Dkhoun National Trading Company (9635) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 102.68 SAR versus a price of 50.50 SAR, about +103% upside (undervalued).
What is the fair value of 9635?
Our model-based fair value for Dkhoun National Trading Company is 102.68 SAR (as of Oct 29, 2026), built from audited fundamentals. The current price: 50.50 SAR.
What is the quality score of 9635?
Dkhoun National Trading Company has a Quality Score of 55/100. 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 Dkhoun National Trading Company (9635)?
Our model-based price target is the fair value of 102.68 SAR (as of Oct 29, 2026) from 24 valuation models. Cautious scenario 59.88 SAR, optimistic scenario 170.49 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Dkhoun National Trading Company stock forecast for 2026?
Our models put fair value at 102.68 SAR, about +103% upside versus a price of 50.50 SAR (undervalued). Cautious scenario 59.88 SAR, optimistic scenario 170.49 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Dkhoun National Trading Company (9635)?
Dkhoun National Trading Company reported trailing-twelve-month revenue of about 88.0M SAR (latest available figure, as of Oct 29, 2026).
Does Dkhoun National Trading Company pay a dividend?
Dkhoun National Trading Company currently shows a dividend yield of 5.94% relative to its recent price (as of Oct 29, 2026).
What growth is priced into Dkhoun National Trading Company (9635)?
For today's price to be fair in a discounted-cash-flow model, Dkhoun National Trading Company would have to grow free cash flow by +10.0 % 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 +82.7 % per year. As of Oct 29, 2026.
What discount rate (WACC) does the fair value of 9635 use?
Our models discount Dkhoun National Trading Company 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 Dkhoun National Trading Company that is +10.0 % 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 Dkhoun National Trading Company (9635) delivered so far?
Over the past 3 years revenue at Dkhoun National Trading Company grew +82.7 % a year. The price currently implies +10.0 % 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 Dkhoun National Trading Company (9635) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Dkhoun National Trading Company (+10.0 % 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 Dkhoun National Trading Company (9635)?
The free-cash-flow yield on the price is 5.05 %: that much free cash flow Dkhoun National Trading Company 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 Dkhoun National Trading Company (9635)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dkhoun National Trading Company it is 102.68 SAR per share (as of Oct 29, 2026), against a price of 50.50 SAR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Dkhoun National Trading Company stock overvalued or undervalued in 2026?
As of Oct 29, 2026, 9635 trades below its calculated fair value: price 50.50 SAR, fair value 102.68 SAR, a gap of about +103% (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 9635?
No. The price is what the market pays today (50.50 SAR); the fair value is what the company's own numbers justify (102.68 SAR). For Dkhoun National Trading Company the two are 52.18 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Dkhoun National Trading Company worth?
The market values Dkhoun National Trading Company at about 101M SAR (market capitalisation, as of Oct 29, 2026). Per share that is 50.50 SAR; our models calculate a fair value of 102.68 SAR per share.
What do the bullish and bearish scenarios say about 9635?
Our models span a range for Dkhoun National Trading Company: cautious scenario 59.88 SAR, base 102.68 SAR, optimistic 170.49 SAR per share (as of Oct 29, 2026, price 50.50 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9635?
Dkhoun National Trading Company trades at a price-to-earnings ratio of 20.4 (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 102.68 SAR is built from several models across several years. Other multiples: P/B 1.6, P/S 1.1, EV/EBITDA 8.8.
How solid is the balance sheet of Dkhoun National Trading Company (9635)?
Balance-sheet figures for Dkhoun National Trading Company (as of Oct 29, 2026): return on equity 8.2%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 9635 from its 52-week high?
Dkhoun National Trading Company trades at 50.50 SAR, about 29% below its 52-week high of 70.84 SAR and at the low of 50.50 SAR (as of Oct 25, 2026). Distance from the high says nothing about value: that is what the fair value of 102.68 SAR is for.
Which stocks are comparable to Dkhoun National Trading Company?
From the same area (Consumer Defensive) we also value Colgate-Palmolive Company, Hindustan Unilever Limited, The Estée Lauder Companies Inc, Kenvue Inc, 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 Dkhoun National Trading Company stock attractive at the current price?
The data as of Oct 29, 2026: price 50.50 SAR, calculated fair value 102.68 SAR (+103%), Quality Score 55/100, 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 9635 calculated?
We run Dkhoun National Trading Company 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 102.68 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. Dkhoun National Trading Company currently trades 51 % 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 Dkhoun National Trading Company (9635)?
The closing price on Oct 25, 2026 was 50.50 SAR. Our model-based fair value is 102.68 SAR, about +103% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dkhoun National Trading Company right now?
The price is below even our cautious bear case (59.88 SAR). The market is more pessimistic than our downside scenario. The model range is unusually wide (59.88 SAR to 170.49 SAR). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Dkhoun National Trading Company
How large is the market capitalisation of Dkhoun National Trading Company (9635)?
The market capitalisation of Dkhoun National Trading Company is 101M SAR (≈ $26.9M). 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 Dkhoun National Trading Company (9635)?
The price-to-sales ratio of Dkhoun National Trading Company is 1.15 (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 Dkhoun National Trading Company (9635)?
Earnings per share at Dkhoun National Trading Company are 2.47 SAR (price ÷ EPS = P/E 20.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dkhoun National Trading Company (9635)?
The dividend yield of Dkhoun National Trading Company is 5.9% (payout 121%). 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 Dkhoun National Trading Company (9635)?
The net margin of Dkhoun National Trading Company is 5.6% (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 Dkhoun National Trading Company (9635)?
The return on equity (ROE) of Dkhoun National Trading Company is 8.2% (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 Dkhoun National Trading Company (9635)?
On an EBIT basis the return on assets of Dkhoun National Trading Company is 13.7% (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.
What is the operating margin of Dkhoun National Trading Company (9635)?
The operating margin of Dkhoun National Trading Company is 7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dkhoun National Trading Company (9635)?
Revenue at Dkhoun National Trading Company is growing +20.1% versus a year earlier (3y avg +82.7%). 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 Dkhoun National Trading Company (9635)?
Earnings per share at Dkhoun National Trading Company are growing −67.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dkhoun National Trading Company (9635) carry?
The net debt of Dkhoun National Trading Company is 16.9M SAR (fiscal year 2024, ≈ 3.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 29, 2026