Rasan gains SAR 246.9M in 2025, SAR 89.6M in Q4
Rasan Information Technology Co.’s net profit jumped 160.6% to SAR 246.9 million in 2025, from SAR 94.73 million a year earlier.
Financials (Million Riyal)
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 358.33 | 653.25 | 82.3 % |
| Gross Income | 238.14 | 464.91 | 95.2 % |
| Operating Income | 107.61 | 242.65 | 125.5 % |
| Net Income | 94.73 | 246.81 | 160.5 % |
| Average Shares | 75.80 | 77.51 | 2.3 % |
| Earnings Per Share before unusual items (Riyals) | 1.37 | 3.07 | 124.9 % |
| EPS (Riyal) | 1.25 | 3.18 | 154.8 % |
The profit growth was attributed to an 82% year-on-year (YoY) rise in revenues during 2025.
In addition, gross profit margin rose by 4.7% YoY to 71.2%, compared to 66.5% in 2024, supported by higher business volumes, product diversification, and increased upselling and cross-selling activities.
Operating profit also jumped 154% YoY, driven by business growth and improved operational efficiency, which led the operating profit margin to increase to 38.5% from 27.6% in 2024.
Rasan’s net profit leapt 125.1% to SAR 89.5 million profit in Q4 2025, compared to SAR 39.8 million in Q4 2024.
Current Quarter Comparison (Million Riyal)
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 117.87 | 213.70 | 81.3 % |
| Gross Income | 93.30 | 153.24 | 64.2 % |
| Operating Income | 50.62 | 79.66 | 57.4 % |
| Net Income | 39.79 | 89.47 | 124.9 % |
| Average Shares | 75.80 | 77.51 | 2.3 % |
| Earnings Per Share before unusual items (Riyal) | 0.64 | 0.98 | 52.8 % |
| EPS (Riyal) | 0.52 | 1.15 | 119.9 % |
Compared to Q3 2025, net profit edged up 8.8% from SAR 82.3 million.
At the end of the period, shareholders' equity, with no minority interests, stood at SAR 705.5 million as of Dec. 31, 2025, up from SAR 414.9 million a year earlier.
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Share Price
| Current | |
| Market Cap (M Riyal) | 11,029.67 |
| Enterprise Value (EV) (M Riyal) | 9,985.54 |
| Shares Outstanding ((M)) | 77.51 |
| Recurring EPS ( Riyal) (TTM) | 4.64 |
| Book Value (BV) ( Riyal) | 13.99 |
| Par Value ( Riyal) | 1.00 |
| Recurring P/E (TTM) | 30.65 |
| P/E (TTM) | 29.53 |
| Price/book | 10.17 |
| Dividend Yield (%) (Last Year) | - |
| Return on Average Assets (%) (TTM) | 27.8 |
| Return on Average Equity (%) (TTM) | 44.1 |
| EV/adj EBITDA | 25.06 |
| EV/Revenues | 9.67 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2025 | 138.62 | 107.1 % | 85.76 | 114.2 % | 27.24 | 174.1 % |
| Q2 2025 | 146.32 | 130.3 % | 90.41 | 141.5 % | 40.83 | 247.3 % |
| Q3 2025 | 214.58 | 95.1 % | 135.50 | 101.1 % | 84.50 | 139.4 % |
| Q4 2025 | 213.70 | 81.3 % | 153.24 | 64.2 % | 79.66 | 57.4 % |
| 2025 | 653.25 | 82.3 % | 464.91 | 95.2 % | 242.65 | 125.5 % |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2025 | 25.38 | 168.0 % | 0.33 | (2.06) | 27.45 | 0.35 |
| Q2 2025 | 39.52 | 348.1 % | 0.51 | (1.10) | 40.63 | 0.52 |
| Q3 2025 | 82.02 | 123.8 % | 1.06 | (1.69) | 83.71 | 1.08 |
| Q4 2025 | 89.47 | 124.9 % | 1.15 | 13.62 | 75.85 | 0.98 |
| 2025 | 246.81 | 160.5 % | 3.18 | 8.76 | 238.04 | 3.07 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | 58.34 % | 30.63 % | 23.09 % |
| Q2 2024 | 58.67 % | 30.74 % | 23.37 % |
| Q3 2024 | 59.26 % | 29.62 % | 23.64 % |
| Q4 2024 | 66.46 % | 34.14 % | 28.88 % |
| 2024 | 66.46 % | 34.14 % | 28.88 % |
| Q1 2025 | 66.01 % | 32.54 % | 28.25 % |
| Q2 2025 | 65.68 % | 33.14 % | 29.89 % |
| Q3 2025 | 65.59 % | 35.81 % | 32.45 % |
| Q4 2025 | 65.18 % | 35.31 % | 31.92 % |
| 2025 | 71.17 % | 40.14 % | 36.44 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2025 | 77.51 | 1.43 | 1.57 | 5.81 |
| Q2 2025 | 77.51 | 1.82 | 1.98 | 6.65 |
| Q3 2025 | 77.51 | 2.41 | 2.58 | 7.86 |
| Q4 2025 | 77.51 | 3.05 | 2.94 | 9.27 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2025 | 57.38 | 52.26 | 14.09 |
| Q2 2025 | 47.65 | 43.95 | 13.07 |
| Q3 2025 | 42.51 | 39.62 | 13.02 |
| Q4 2025 | 38.00 | 39.47 | 12.50 |
Business Segments (Million Riyal)
Q4 2025
| Period | Tameeni - Vehicles | Insurance - Health | Leased | Other segments |
|---|---|---|---|---|
| Q1 2025 | 59.31 | 14.76 | 44.47 | 1.97 |
| Q2 2025 | 59.47 | 16.25 | 46.74 | 1.78 |
| Q3 2025 | 128.07 | 48.15 | 74.22 | 3.56 |
| Q4 2025 | 103.17 | 20.69 | 77.59 | 12.25 |
Analysts Estimates (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 75.00 | 89.47 |
Estimates vs Actual (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| ANB Capital | 75.00 | 89.47 |
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