André, RosárioRiva, CamilloBarbosa, Luís Miguel NunesDuarte, Miguel MarecosMartins, João Pedro Reis2025-04-022025-04-022025-01-232024-12-16http://hdl.handle.net/10362/181808This thesis provides an in-depth analysis of Saudi Aramco, the world’s largest integrated oil and gas company, focusing on its operational structure, financial performance, and strategic outlook. It begins with an overview of the company and its business model, encompassing both upstream and downstream operations, and evaluates its position within the global energy market. To assess Saudi Aramco’s financial performance, key financial ratios were calculated and benchmarked against those of its industry peers. The valuation of the company was conducted using the Discounted Cash Flow (DCF) methodology, incorporating a carefully determined discount rate and free cash flow projections. Additionally, a sensitivity analysis was performed to evaluate the impact of external factors on the company’s valuation. The primary objective of this thesis is to determine the fair value of Saudi Aramco’s share price for FY2025, offering insights into its financial health and strategic positioning in an evolving energy landscape.engOilEnergyRefiningChemicalsmaster thesis203926757