GCC valuation database · industry averages from audited accounts

1.5 Unlevered Betas by Industry

The same sensitivity with the effect of debt removed: the risk of the business itself.

Saudi ArabiaSaudi Exchange (Tadawul)SAR

Beta · industry averages · FY2018 to FY2025

IndustryCompaniesFY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Telecom30.630.810.670.570.610.730.650.83
Mills40.670.660.730.580.300.570.250.69
Car Rental3–––0.300.330.700.520.68
Manpower4–––0.420.501.081.040.99
Dairy–––––––––
Pharma–––––––––

Unlevered beta = levered beta ÷ (1 + (1 - tax rate) × debt ÷ equity), with debt and equity weighted as in WACC: at market value once a company is listed, at book value before.

Industry averages from the companies' audited annual reports. A dash means the figure is not available yet.