Figure 1. (a) Saudi Aramco 2019 net income as compared to 10 selected petroleum companies. (b) Aramco 5% IPO value based on $2 trillion valuation versus the next biggest historical IPO values (source: Investopedia)

From

Saudi Aramco Privatization in Perspective: Financial Analysis and Future Implications

Ruud Weijermars, Jonathan Moeller

Journal of Finance and Economics. 2020, 8(4), 161-170 doi:10.12691/jfe-8-4-2