Saudi Company for Hardware (SACO) — Cyborg Score 4/10

Strategic Profile

SACO currently operates 33 stores in 18 cities throughout the Kingdom, including five SACO World superstores. The company operates in two segments, Sales and Services, and Logistic Services, offering freight forwarding, transportation, and contract logistics, as well as delivery, installation and maintenance services, including port handling, trans-shipment, warehouse management and maintenance, and custom clearance services.

Cyborg Score Rationale

Market cap has decreased by -17.53% in one year. Revenue declined 12% last year and is down 32% over three years. Revenue is anticipated to climb 7.3% annually over coming three years, materially lower than the 12% industry growth forecast.

Top Insights

• Market cap erosion of 64.46% since IPO in May 2015 (from $3.08B to $1.10B) indicates significant shareholder value destruction
• Dual business model combining retail/wholesale with logistics services provides operational diversification
• Underperforming industry growth expectations despite favorable market conditions suggests competitive pressure or operational challenges
• Strong physical retail presence (33 stores + logistics network) but limited recent profitability momentum

Named Competitors

• Electronics & Office Supplies Retail — Leading electronics and office supplies retailer in Middle East
• Home Furnishings & Décor — Saudi furniture and home goods retailer
• Retail & Distribution — Saudi retail and consumer goods distributor

Recent Developments

• (Dec 2023) Stock posted 27% monthly gain but revenue trends showed continued 12% year-over-year decline
• (2025) Market cap stabilized around $1.1B after sustained period of underperformance

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