Saudi Aramco net worth: How much is Saudi Aramco worth now?

Saudi Aramco net worth: How much is Saudi Aramco worth now? – As of October 2022, Saudi Aramco, officially known as the Saudi Arabian Oil Group (formerly Arabian-American Oil Corporation), or simply Aramco, has a market value of $2.107 trillion.

Aramco reported its full-year 2022 financial results in March 2023, posting a record net income of $161.1 billion – its biggest yearly profits as a publicly traded business.

Aramco also issued a $19.5 billion fourth-quarter dividend to be paid in the first quarter of 2023.

According to its financial figures for 2022, Aramco’s net income climbed by 46.5% to a record $161.1 billion, up from $110.0 billion in 2021.

The increase in net income was due to increased crude oil prices, larger quantities sold, and improved refined product margins.

Net income for the fourth quarter of 2022 was in line with analyst expectations, minus $3.3 billion in non-cash items.

According to The Washington Post, Aramco’s $2 trillion net worth is an illusion.

The following are excerpts from a publication dated May 30, 2023:

“Oil giant Saudi Aramco shares a couple of traits with Apple Inc. and Microsoft Corp.: a market capitalization measured in the trillions of dollars, and a stratospheric price-to-earnings ratio. Unlike those tech behemoths, though, Aramco’s valuation relies more on smoke and mirrors than the market’s collective wisdom.”

“That matters because the Saudi government, which directly and indirectly still controls 98% of the company’s equity after its 2019 initial public offering, is now mulling whether to sell more shares.”

Source: abtc.ng