Rabigh Refining and Petrochemical Company (2380.SR) stock analysis

In our weekly check, Rabigh Refining and Petrochemical Company is graded C (A to F). Of 24 checks on debt, profit, cash flow and trend: 13 pass, warnings: 7, red flags: 4.

About Rabigh Refining and Petrochemical Company

Rabigh Refining and Petrochemical Company is an Energy company (Oil & Gas Refining & Marketing), listed on SAU as 2380.SR.

What our checks show for 2380.SR

Red flags

• The gross margin fell by 2.1 points, to 8.3%: costs are rising faster than prices.
• Revenue fell 0.5% a year over the last 3 years.
• The net margin is only 4.1%: little room if costs rise.
• The stock has fallen as much as 83% from a peak. Would you have held through that?

Warning signs

• Net debt is 2.2x a year of EBITDA (debt/equity 1.29). That limits room in a downturn and raises refinancing risk.
• Operating profit covers interest only 2.9 times: a weak year could make the payments hard.
• The net margin fell by 0.3 points over 5 years, to 4.1%: the company keeps less of each sale as profit.
• Analysts expect the net margin to shrink by 0.5 points from today's 4.1%.
• The price swings a lot: 46.4% annual volatility. Expect large ups and downs.
• The stock is still below its previous peak.
• Return on capital (ROCE) is only 9.3%.

Strengths

• Operating cash flow is 4.88x net profit: the profit arrives as real cash.
• Earnings per share grew 19.8% a year over the last 3 years.
• Free cash flow is 16.3% of revenue: cash for dividends, buybacks or growth.
• The dividend takes 0% of profit: there is a cushion.
• The price is 10.7 times earnings (P/E), reasonable for its growth.
• Beta 0.22: the stock usually moves less than the market.

Similar companies

NESTE.HE · 2223.SR · DINO · QFLS.QA · CSAN3.SA

Questions

What grade does Rabigh Refining and Petrochemical Company (2380.SR) have?

In our weekly check, Rabigh Refining and Petrochemical Company is graded C (A to F). Of 24 checks on debt, profit, cash flow and trend: 13 pass, warnings: 7, red flags: 4. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 2380.SR stock?

This week's biggest flags for Rabigh Refining and Petrochemical Company: Gross margin falling, Weak revenue growth, Thin margins. In total 11 of 24 checks show a warning or a red flag.

What does Rabigh Refining and Petrochemical Company do?

Rabigh Refining and Petrochemical Company is an Energy company (Oil & Gas Refining & Marketing), listed on SAU as 2380.SR.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-11-07

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