Saudi Azm Q1 2026/27 profit rises 23% to SAR 17.3M

Saudi Azm for Communication and Information Technology Co. reported a 23% increase in net profit to SAR 17.3 million for the first quarter ended September 2026, compared with SAR 14.1 million in the same period of 2025.

Current Quarter Comparison (Million Riyal)

Compared With The

Item	Q1 2026	Q1 2027	Change‬
Revenues	69.96	104.42	49.3 %
Gross Income	24.75	33.76	36.4 %
Operating Income	12.11	17.30	42.9 %
Net Income	14.06	17.30	23.0 %
Average Shares	60.00	60.00	-
Earnings Per Share before unusual items (Halala)	23.43	28.83	23.0 %
EPS (Halala)	23.43	28.83	23.0 %

Item	Q4 2026	Q1 2027	Change‬
Revenues	86.96	104.42	20.1 %
Gross Income	30.10	33.76	12.2 %
Operating Income	15.42	17.30	12.2 %
Net Income	16.25	17.30	6.5 %
Average Shares	60.00	60.00	-
Earnings Per Share before unusual items (Halala)	27.08	28.83	6.5 %
EPS (Halala)	27.08	28.83	6.5 %

Revenue rose 49.3% year-on-year (YoY) to SAR 104.42 million, driven by new projects and higher earnings from existing projects.

Improved topline pushed up gross profit by SAR 9 million, while Zakat and income tax expenses decreased by SAR 0.44 million.

However, operating expenses (OpEx) edged up SAR 3.81 million, in addition to a SAR 0.46 million decrease in the share of results of associates, a SAR 0.04 million increase in finance costs (FCs), and a SAR 1.08 million decrease in other income.

Quarter-on-quarter (QoQ) net income grew 6.5% from SAR 16.25 million, amid higher revenue and gross profit.

Shareholders’ equity, excluding minority interests, stood at SAR 211.16 million at the end of the period, compared with SAR 156.09 million at the end of the same period last year.

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Share Price

	Current
Market Cap (M Riyal)	2,035.20
Enterprise Value (EV) (M Riyal)	1,953.48
Shares Outstanding ((M))	60.00
Recurring EPS (Halala) (TTM)	90.38
Book Value (BV) ( Riyal)	3.52
Par Value ( Halala)	50.00
Recurring P/E (TTM)	37.53
P/E (TTM)	37.53
Price/book	9.64
Dividend Yield (%) (Last Year)	-
Return on Average Assets (%) (TTM)	13.7
Return on Average Equity (%) (TTM)	29.5
EV/adj EBITDA	33.55
EV/Revenues	5.71

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	15.26	-	4.20	-	3.27	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	67.45	342.1 %	18.55	341.8 %	9.68	196.1 %
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	102.98	52.7 %	20.72	11.7 %	13.05	34.7 %
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	135.14	31.2 %	29.23	41.1 %	16.46	26.2 %
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	152.56	12.9 %	30.81	5.4 %	14.52	(11.8 %)
Q1 2023	-	-	-	-	-	-
Q2 2023	-	-	-	-	-	-
Q3 2023	-	-	-	-	-	-
Q4 2023	-	-	-	-	-	-
2023	170.83	12.0 %	38.47	24.9 %	17.33	19.3 %
Q1 2024	50.31	-	14.89	-	8.05	-
Q2 2024	49.54	-	10.87	-	6.19	-
Q3 2024	54.68	-	15.60	-	5.57	-
Q4 2024	63.11	-	16.46	-	7.87	-
2024	217.64	27.4 %	57.82	50.3 %	27.68	59.7 %
Q1 2025	60.68	20.6 %	18.78	26.1 %	9.77	21.5 %
Q2 2025	63.95	29.1 %	16.51	51.8 %	6.17	(0.2 %)
Q3 2025	64.47	17.9 %	19.87	27.4 %	7.69	38.0 %
Q4 2025	64.06	1.5 %	18.25	10.9 %	8.64	9.8 %
2025	253.16	16.3 %	73.41	27.0 %	32.28	16.6 %
Q1 2026	69.96	15.3 %	24.75	31.8 %	12.11	23.9 %
Q2 2026	74.67	16.8 %	22.04	33.5 %	9.89	60.3 %
Q3 2026	75.78	17.5 %	22.99	15.7 %	10.55	37.2 %
Q4 2026	86.96	35.8 %	30.10	64.9 %	15.42	78.4 %
2026	307.36	21.4 %	99.88	36.1 %	47.98	48.6 %
Q1 2027	104.42	49.3 %	33.76	36.4 %	17.30	42.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2018	15.26	-	4.20	-	3.27	-
2019	67.45	342.1 %	18.55	341.8 %	9.68	196.1 %
2020	102.98	52.7 %	20.72	11.7 %	13.05	34.7 %
2021	135.14	31.2 %	29.23	41.1 %	16.46	26.2 %
2022	152.56	12.9 %	30.81	5.4 %	14.52	(11.8 %)
2023	170.83	12.0 %	38.47	24.9 %	17.33	19.3 %
2024	217.64	27.4 %	57.82	50.3 %	27.68	59.7 %
2025	253.16	16.3 %	73.41	27.0 %	32.28	16.6 %
2026	307.36	21.4 %	99.88	36.1 %	47.98	48.6 %

Profit Performance (Million Riyal)

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Halala)
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	2.98	-	4.97	-	2.98	4.97
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	7.76	160.0 %	12.93	-	7.76	12.93
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	11.87	53.1 %	19.79	-	11.87	19.79
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	15.54	30.8 %	25.89	-	15.54	25.89
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	19.10	23.0 %	31.84	5.27	13.83	23.05
Q1 2023	-	-	-	-	-	-
Q2 2023	-	-	-	-	-	-
Q3 2023	-	-	-	-	-	-
Q4 2023	-	-	-	-	-	-
2023	23.08	20.8 %	38.47	6.08	17.00	28.33
Q1 2024	7.93	-	13.21	-	7.93	13.21
Q2 2024	5.49	-	9.15	-	5.49	9.15
Q3 2024	4.51	-	7.52	-	4.51	7.52
Q4 2024	10.02	-	16.70	-	10.02	16.70
2024	27.95	21.1 %	46.58	-	27.95	46.58
Q1 2025	10.14	28.0 %	16.91	-	10.14	16.91
Q2 2025	7.24	31.9 %	12.06	-	7.24	12.06
Q3 2025	8.01	77.5 %	13.35	-	8.01	13.35
Q4 2025	12.06	20.3 %	20.09	-	12.06	20.09
2025	37.45	34.0 %	62.41	-	37.45	62.41
Q1 2026	14.06	38.6 %	23.43	-	14.06	23.43
Q2 2026	9.73	34.5 %	16.22	-	9.73	16.22
Q3 2026	10.95	36.7 %	18.24	-	10.95	18.24
Q4 2026	16.25	34.8 %	27.08	-	16.25	27.08
2026	50.99	36.2 %	84.98	-	50.99	84.98
Q1 2027	17.30	23.0 %	28.83	-	17.30	28.83

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Halala)
2018	2.98	-	4.97	-	2.98	4.97
2019	7.76	160.0 %	12.93	-	7.76	12.93
2020	11.87	53.1 %	19.79	-	11.87	19.79
2021	15.54	30.8 %	25.89	-	15.54	25.89
2022	19.10	23.0 %	31.84	5.27	13.83	23.05
2023	23.08	20.8 %	38.47	6.08	17.00	28.33
2024	27.95	21.1 %	46.58	-	27.95	46.58
2025	37.45	34.0 %	62.41	-	37.45	62.41
2026	50.99	36.2 %	84.98	-	50.99	84.98

Profitability

Period	Gross Margin	Adjusted EBITDA margin	Net Margin Before Unusual Items
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	27.51 %	21.44 %	19.55 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	27.49 %	14.41 %	11.50 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	20.12 %	13.56 %	11.53 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	21.63 %	13.24 %	11.50 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	20.20 %	10.23 %	9.07 %
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	-	-	-
2023	22.52 %	11.44 %	9.95 %
Q1 2024	-	-	-
Q2 2024	-	-	-
Q3 2024	-	-	-
Q4 2024	26.57 %	13.90 %	12.84 %
2024	26.57 %	13.90 %	12.84 %
Q1 2025	27.06 %	14.22 %	13.23 %
Q2 2025	27.78 %	13.56 %	13.17 %
Q3 2025	28.39 %	14.05 %	14.04 %
Q4 2025	29.00 %	14.43 %	14.79 %
2025	29.00 %	14.43 %	14.79 %
Q1 2026	30.25 %	14.88 %	15.76 %
Q2 2026	31.09 %	15.73 %	16.06 %
Q3 2026	30.95 %	16.18 %	16.45 %
Q4 2026	32.50 %	17.22 %	16.59 %
2026	32.50 %	17.22 %	16.59 %
Q1 2027	31.85 %	17.03 %	15.86 %

Period	Gross Margin	Adjusted EBITDA margin	Net Margin Before Unusual Items
2018	27.51 %	21.44 %	19.55 %
2019	27.49 %	14.41 %	11.50 %
2020	20.12 %	13.56 %	11.53 %
2021	21.63 %	13.24 %	11.50 %
2022	20.20 %	10.23 %	9.07 %
2023	22.52 %	11.44 %	9.95 %
2024	26.57 %	13.90 %	12.84 %
2025	29.00 %	14.43 %	14.79 %
2026	32.50 %	17.22 %	16.59 %

Period	Gross Margin	Adjusted EBITDA margin	Net Margin Before Unusual Items
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	-	-	-
Q1 2024	29.60 %	17.13 %	15.75 %
Q2 2024	21.95 %	13.66 %	11.08 %
Q3 2024	28.53 %	11.27 %	8.25 %
Q4 2024	26.08 %	13.80 %	15.88 %
Q1 2025	30.94 %	17.78 %	16.72 %
Q2 2025	25.81 %	11.27 %	11.32 %
Q3 2025	30.83 %	13.56 %	12.42 %
Q4 2025	28.49 %	15.28 %	18.82 %
Q1 2026	35.39 %	19.05 %	20.10 %
Q2 2026	29.52 %	14.90 %	13.04 %
Q3 2026	30.33 %	15.55 %	14.45 %
Q4 2026	34.61 %	19.20 %	18.68 %
Q1 2027	32.33 %	17.83 %	16.57 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Earnings Per Share before unusual items (Halala)	Book Value (BV)
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	-	-	-	-
Q4 2021	-	-	-	-
Q1 2022	-	-	-	-
Q2 2022	-	-	-	-
Q3 2022	-	-	-	-
Q4 2022	-	-	-	-
Q1 2023	-	-	-	-
Q2 2023	-	-	-	-
Q3 2023	-	-	-	-
Q4 2023	-	-	-	-
Q1 2024	60.00	-	-	1.29
Q2 2024	60.00	-	-	1.38
Q3 2024	60.00	-	-	1.48
Q4 2024	60.00	46.58	46.58	1.47
Q1 2025	60.00	50.28	50.28	1.65
Q2 2025	60.00	53.19	53.19	2.00
Q3 2025	60.00	59.02	59.02	2.13
Q4 2025	60.00	62.41	62.41	2.35
Q1 2026	60.00	68.94	68.94	2.60
Q2 2026	60.00	73.10	73.10	2.49
Q3 2026	60.00	78.00	78.00	2.67
Q4 2026	60.00	84.98	84.98	3.02
Q1 2027	60.00	90.38	90.38	3.52

Period	Shares Outstanding (M)	EPS (Halala)	Earnings Per Share before unusual items (Halala)	Book Value (BV)
2018	60.00	4.97	4.97	0.05
2019	60.00	12.93	12.93	0.16
2020	60.00	19.79	19.79	0.36
2021	60.00	25.89	25.89	0.54
2022	60.00	31.84	23.05	0.86
2023	60.00	38.47	28.33	1.14
2024	60.00	46.58	46.58	1.47
2025	60.00	62.41	62.41	2.35
2026	60.00	84.98	84.98	3.02

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Recurring P/E	Price/book
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	-	-	-
Q1 2024	-	-	12.22
Q2 2024	-	-	13.36
Q3 2024	-	-	15.60
Q4 2024	75.14	75.14	23.74
Q1 2025	61.56	61.56	18.81
Q2 2025	60.16	60.16	16.00
Q3 2025	47.51	47.51	13.14
Q4 2025	37.69	37.69	10.02
Q1 2026	31.45	31.45	8.33
Q2 2026	29.30	29.30	8.61
Q3 2026	36.13	36.13	10.56
Q4 2026	35.68	35.68	10.03
Q1 2027	33.55	33.55	8.62

Period	P/E	Recurring P/E	Price/book
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	27.01	37.30	9.95
2023	28.33	38.48	9.56
2024	75.14	75.14	23.74
2025	37.69	37.69	10.02
2026	35.68	35.68	10.03

Business Segments (Million Riyal)

Compared With The

Period	Corporate services	Third-party platforms	Advisory	Proprietary Technologies
Q1 2024	25.57	3.38	7.68	13.68
Q2 2024	18.67	7.92	2.55	20.39
Q3 2024	35.30	3.84	10.06	5.47
Q4 2024	36.58	2.82	4.31	19.40
Q1 2025	35.98	8.36	3.70	12.64
Q2 2025	34.90	4.77	13.49	10.80
Q3 2025	33.48	7.91	7.82	15.25
Q4 2025	35.18	10.05	7.33	11.49
Q1 2026	35.70	10.57	7.19	16.50
Q2 2026	41.73	17.04	7.51	8.39
Q3 2026	38.92	14.01	8.01	14.84
Q4 2026	54.78	11.95	11.31	8.92
Q1 2027	60.83	19.04	18.18	6.37

Period	Corporate services	Third-party platforms	Advisory	Proprietary Technologies
2021	97.20	15.44	16.41	6.09
2022	89.45	14.58	39.20	9.33
2023	90.16	15.51	24.52	40.64
2024	116.12	17.97	24.61	58.94
2025	139.54	31.08	32.34	50.19
2026	171.13	53.57	34.02	48.65

Analysts Estimates (Million Riyal)

Item	Profit (Expected)	Profit (Actual)	Change
Average	16.60	17.30

Estimates vs Actual (Million Riyal)

Item	Profit (Expected)	Profit (Actual)	Change‬
GIB Capital	16.60	17.30

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Saudi Azm Q1 2026/27 profit rises 23% to SAR 17.3M

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Saudi Azm Q1 2026/27 profit rises 23% to SAR 17.3M

Current Quarter Comparison (Million Riyal)

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Share Price

Financial Ratios

Financial results (Million Riyal)

Financial results

Profit Performance (Million Riyal)

Profit Performance

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

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Analysts Estimates

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