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Research firm approves Smile Care target at 8.1 riyals
Basma Adeem Medical Company (Smile Care) expects sustainable growth through its transition from operating rapidly expanding clinics to integration and expansion activities, supported by a strong financial position and acquisition options that enhance profitability in the medium term. The company has launched an expansion plan including the opening of two new branches in 2026, with a projected compound annual revenue growth rate of 17.9% and a net profit growth rate of 24.1% during 2025-2030, with profits reaching up to 21.5 million Riyals. The research firm estimates that the stock target price is 8.1 Riyals, with profitability expected to improve after 2028 as a result of reduced expansion costs and increased branch occupancy.
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