Al Rajhi Bank (1120) Fair Value & Analysis
Financial Services · SA · Market cap 376B SAR (≈ $100B) · ISIN SA0007879113
What is Al Rajhi Bank really worth?
Below-average quality, and trading another 52% above our fair value of 43.51 SAR.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 6 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from 53.72 SAR to 43.51 SAR (−19.0%) since Jul 30, 2026. Share price +6.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (54.38 SAR). The favourable scenario is already priced in.
- Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 18.27 SAR – 72.14 SAR · fair‑value band 32.63 SAR – 54.38 SAR · the 66.35 SAR price screens above the 43.51 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Al Rajhi Bank (1120) currently trades at 66.35 SAR, while our model-based Fair Value estimate is 43.51 SAR, implying the stock looks roughly 52.5% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of 37.13 SAR per share, and 0 of the 6 models we run sit above the 66.35 SAR price. Bear case: the Asset-Based group reads lowest at 15.94 SAR, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Al Rajhi Bank generated revenue of 39.0B SAR at a net margin of 68.0%. Revenue grew 11.1% year over year. It earns a return on equity of 18.5%. The balance sheet holds a net cash position of 1.2B SAR. Fundamentals as of Aug 13, 2026
Our scenario range runs from 32.63 SAR (bear case) to 54.38 SAR (bull case); at 66.35 SAR, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −34%, 1120 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 1.93 SAR per share, which is 4.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Economic Profit (37.13 SAR) versus Asset-Based (15.94 SAR). Highest evidence: DDM Multi-Stage (66).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 57
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Al Rajhi Banking and Investment Corporation, together with its subsidiaries, provides banking and investment services in the Kingdom of Saudi Arabia and internationally. The company operates through four segments: Retail; Corporate; Treasury; and Investment Services, Brokerage, and Other.
Full company description
Al Rajhi Banking and Investment Corporation, together with its subsidiaries, provides banking and investment services in the Kingdom of Saudi Arabia and internationally. The company operates through four segments: Retail; Corporate; Treasury; and Investment Services, Brokerage, and Other. It offers current, dependent, hassad, family, future, million, and smart saving accounts; personal, auto, real estate, fleet, payroll, POS finance, e- commerce, contract, equipment, and invoice financing; credit, prepaid, charge credit, cashback, business, corporate, and miles cards; motor, travel, saving and protection programs, family protection, home, single premium, medical malpractice, domestic helper, visit visa, cyber, private pension plan, and employee fidelity, engineering, premium medical, marine, medical, cash in transit, liability, machinery breakdown, and property insurances; and cash management services. The company also provides ATM facilities; and investments of individuals and corporates in mutual funds, local and international share trading services, investment portfolios, and others. In addition, it offers letter of guarantee, documentary collection, supply chain finance, and letter of credit services. Al Rajhi Banking and Investment Corporation was founded in 1957 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Al Rajhi Bank reported revenue of 71.8B SAR in FY2025 versus 25.6B SAR in FY2021, a compound +29.4%/yr. Reported net income was 24.8B SAR in FY2025, compounding +13.9%/yr from FY2021.
of which total revenue +13.3 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
1120 screens 52% overvalued. Compare with DBS Group →
Peer Group
Banks - Regional · 1071 stocks
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.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.17 | $24.12 | +4% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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