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STOCK COMPARISON

Saudi Aramco vs Imperial Oil: Fair Value & Quality

Both stocks run through our valuation models. Here is how Saudi Aramco (2222) and Imperial Oil (IMO) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees Saudi Aramco as the less overvalued of the two: Saudi Aramco trades at SAR 25.78 versus a fair value of SAR 20.14 (-22%), while Imperial Oil trades at $125 versus $94.61 (-24%).
Saudi Aramco
2222.SR · SAR · Energy
-22%
upside to fair value
overvalued
PriceSAR 25.78
Fair ValueSAR 20.14
Quality74/100
Imperial Oil
IMO · USD · Energy
-24%
upside to fair value
overvalued
Price$125
Fair Value$94.61
Quality70/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Saudi AramcoImperial Oil
Valuation
15.3×P/E (TTM)29.1×
0.91×P/S (TTM)1.34×
1.11×P/B2.82×
1.8×EV/EBITDA9.9×
3.92×PEG5.18×
−21.9%Fair value upside−24.1%
5.2%Dividend yield2.4%
SAR 1.35Dividend per share$3.03
Profitability
42%Operating margin10%
0.99×EBIT margin trend (5Y)2.73×
24%Return on equity12%
20%Return on assets6%
Growth
28%Revenue growth (YoY)-0%
-9.7%Avg. growth/yr (3Y)-7.5%
14.2%Avg. growth/yr (5Y)16.1%
+6.2%Value creation/yr+17.7%
Balance & size
66.7×Interest coverage (EBIT/interest)163.7×
0.14×Debt / equity0.16×
$1.7TMarket cap$63B
weakGrowth qualityweak

Saudi Aramco leads: 10 to 5 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Saudi Aramcoof which business quality 70 · market factors 61 Imperial Oilof which business quality 68 · market factors 66
ProfitabilityMargins and returns on capital today
70
55
Quality GrowthAre margins and returns improving?
26
28
CashflowEarnings quality: real cash, not paper profit
72
66
Fin. StrengthBalance sheet, leverage, solvency risk
82
76
InvestmentDisciplined investing over empire-building
80
96
Low VolatilityCalm price path (market factor)
100
73
MomentumPrice trend over the last 3–12 months (market factor)
42
58
52W MomentumDistance to the 52-week high (market factor)
52
74
Net IssuanceShare count: buybacks or dilution?
82
100

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familySaudi AramcoPrice SAR 25.78Imperial OilPrice $125
DCF Models-23%below the priceSAR 19.97-3%close to the price$121
Earnings-Based-26%below the priceSAR 18.95-44%below the price$70.16
Dividend Discount-26%below the priceSAR 19.16-61%below the price$48.20
Multiples-39%below the priceSAR 15.62-29%below the price$88.92
Asset-Based-84%below the priceSAR 4.13-75%below the price$30.83
Growth DCF-35%below the priceSAR 16.84+12%close to the price$139
Economic Profit-40%below the priceSAR 15.52-45%below the price$68.25
Growth Earnings-37%below the priceSAR 16.30-33%below the price$82.95
Minimum-84%below the priceSAR 4.13-75%below the price$30.83
Maximum-23%below the priceSAR 19.97+12%close to the price$139
Median-36%below the priceSAR 16.57-39%below the price$76.56
Geometric mean-44%below the priceSAR 14.53-41%below the price$73.84

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Saudi Aramco: 24 of 25 models see the stock below the current price.

Imperial Oil: 19 of 25 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Saudi Aramco
Price SAR 25.78
Fair Value SAR 20.14
Bear SAR 14.27Bull SAR 27.71
Imperial Oil
Price $125
Fair Value $94.61
Bear $70.96Bull $118

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Saudi Aramco · Energy

Quality score74 · Top 25%
Fair value upside-22% · below median

Imperial Oil · Energy

Quality score70 · Top 25%
Fair value upside-24% · below median

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees Saudi Aramco as the less overvalued of the two: Saudi Aramco trades at SAR 25.78 versus a fair value of SAR 20.14 (-22%), while Imperial Oil trades at $125 versus $94.61 (-24%).

Saudi Aramco has the higher quality score (74/100).

Open Saudi Aramco live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.