The Saudi National Bank (TADAWUL:1180) just released its half-year report and things are looking bullish. The company beat expectations with revenues of ر.س20b arriving 4.3% ahead of forecasts. Statutory earnings per share (EPS) were ر.س1.07, 8.3% ahead of estimates. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Saudi National Bank after the latest results.

Taking into account the latest results, the most recent consensus for Saudi National Bank from twelve analysts is for revenues of ر.س40.8b in 2026. If met, it would imply a credible 3.3% increase on its revenue over the past 12 months. Statutory per-share earnings are expected to be ر.س4.12, roughly flat on the last 12 months. Before this earnings report, the analysts had been forecasting revenues of ر.س40.7b and earnings per share (EPS) of ر.س4.11 in 2026. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

The analysts reconfirmed their price target of ر.س48.46, showing that the business is executing well and in line with expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Saudi National Bank at ر.س52.00 per share, while the most bearish prices it at ر.س40.80. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It's pretty clear that there is an expectation that Saudi National Bank's revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 6.8% growth on an annualised basis. This is compared to a historical growth rate of 9.9% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 9.0% per year. Factoring in the forecast slowdown in growth, it seems obvious that Saudi National Bank is also expected to grow slower than other industry participants.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Saudi National Bank's revenue is expected to perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Saudi National Bank going out to 2028, and you can see them free on our platform here..

Even so, be aware that Saudi National Bank is showing 1 warning sign in our investment analysis , you should know about...

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.