Sport Clubs profit jumps to SAR 41.2M in 2025; Q4 at SAR 14.6M
Sport Clubs Co. reported a net profit of SAR 41.2 million for 2025, a 17% rise from SAR 36.1 million a year earlier.
Financials (Million Riyal)
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 327.43 | 376.24 | 14.9 % |
| Gross Income | 96.69 | 112.47 | 16.3 % |
| Operating Income | 67.25 | 79.11 | 17.6 % |
| Net Income | 36.10 | 41.17 | 14.0 % |
| Average Shares | 104.00 | 114.40 | 10.0 % |
| Earnings Per Share before unusual items (Riyals) | 0.35 | 0.40 | 13.2 % |
| EPS (Riyal) | 0.35 | 0.36 | 3.7 % |
The profit growth was attributed to a 14.9% increase in revenue compared to the previous year, driven by improved performance of existing clubs, higher membership levels, and the contribution of five newly opened clubs as well as the reopening of two renovated branches.
Subscription revenues rose 19% year-on-year (YoY), while revenues from men’s centers (Body Masters) increased 17.8% and women’s centers (Body Motions) grew 13.5%, despite a slight 1.9% decline in sports solutions revenues (Body Experts).
Profit margins also improved despite exceptional expenses. The company recorded an exceptional gain of SAR 711,220 from terminating a lease in line with IFRS 16, compared to SAR 2.11 million last year.
Net profit grew 22.7%, excluding exceptional items.
This was partially offset by higher expenses related to the company’s IPO project, which rose to SAR 4.75 million from SAR 2.85 million in the previous year.
Current Quarter Comparison (Million Riyal)
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 89.05 | 104.26 | 17.1 % |
| Gross Income | 30.27 | 34.41 | 13.7 % |
| Operating Income | 21.60 | 24.00 | 11.1 % |
| Net Income | 12.50 | 14.58 | 16.6 % |
| Average Shares | 104.00 | 114.40 | 10.0 % |
| Earnings Per Share before unusual items (Riyal) | 0.12 | 0.13 | 4.1 % |
| EPS (Riyal) | 0.12 | 0.13 | 6.0 % |
The fourth-quarter net earnings grew by 16.6% to SAR 14.58 million, from SAR 12.5 million in Q4 2024.
Sequentially, net earnings fell by 10.7% from SAR 16.32 million in Q3 2025.
Shareholders’ equity, with no minority interest, stood at SAR 270.51 million as of Dec. 31, 2025, up from SAR 164.73 million a year earlier.
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Share Price
| Current | |
| Market Cap (M Riyal) | 1,009.01 |
| Enterprise Value (EV) (M Riyal) | 1,107.79 |
| Shares Outstanding ((M)) | 114.40 |
| Recurring EPS ( Riyal) (TTM) | 0.48 |
| Book Value (BV) ( Riyal) | 2.68 |
| Par Value ( Riyal) | 1.00 |
| Recurring P/E (TTM) | 18.19 |
| P/E (TTM) | 18.19 |
| Price/book | 3.29 |
| Dividend Yield (%) (Last Year) | - |
| Return on Average Assets (%) (TTM) | 5.4 |
| Return on Average Equity (%) (TTM) | 19.4 |
| EV/adj EBITDA | 6.36 |
| EV/Revenues | 2.62 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2025 | 82.44 | 18.4 % | 17.21 | (0.8 %) | 10.30 | 4.2 % |
| Q2 2025 | 84.41 | 19.1 % | 22.20 | 26.6 % | 15.84 | 40.7 % |
| Q3 2025 | 105.13 | 7.4 % | 38.65 | 22.6 % | 28.98 | 18.2 % |
| Q4 2025 | 104.26 | 17.1 % | 34.41 | 13.7 % | 24.00 | 11.1 % |
| 2025 | 376.24 | 14.9 % | 112.47 | 16.3 % | 79.11 | 17.6 % |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2025 | 3.41 | (14.9 %) | 0.03 | (0.14) | 3.55 | 0.03 |
| Q2 2025 | 6.87 | 27.8 % | 0.07 | (0.45) | 7.31 | 0.07 |
| Q3 2025 | 16.32 | 14.6 % | 0.14 | (3.45) | 19.77 | 0.17 |
| Q4 2025 | 14.58 | 16.6 % | 0.13 | - | 14.58 | 0.13 |
| 2025 | 41.17 | 14.0 % | 0.36 | (4.04) | 45.20 | 0.40 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | - | - | - |
| Q2 2024 | 28.53 % | - | 11.59 % |
| Q3 2024 | 28.44 % | 40.85 % | 11.91 % |
| Q4 2024 | 29.53 % | 40.64 % | 11.09 % |
| 2024 | 29.53 % | 40.64 % | 11.09 % |
| Q1 2025 | 28.38 % | 39.60 % | 10.54 % |
| Q2 2025 | 28.61 % | 40.26 % | 11.26 % |
| Q3 2025 | 30.00 % | 41.19 % | 12.01 % |
| Q4 2025 | 29.89 % | 40.66 % | 12.01 % |
| 2025 | 29.89 % | 40.66 % | 12.01 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2025 | 104.00 | 0.34 | 0.34 | 1.65 |
| Q2 2025 | 104.00 | 0.36 | 0.38 | 1.70 |
| Q3 2025 | 114.40 | 0.34 | 0.38 | 2.31 |
| Q4 2025 | 114.40 | 0.36 | 0.40 | 2.36 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2025 | - | - | - |
| Q2 2025 | - | - | - |
| Q3 2025 | 29.59 | 26.68 | 4.37 |
| Q4 2025 | 22.93 | 20.88 | 3.49 |
Business Segments (Million Riyal)
Q4 2025
| Period | Men’s fitness centers | Women’s fitness centers | Sport solutions |
|---|---|---|---|
| Q1 2025 | 46.08 | 19.44 | 16.92 |
| Q2 2025 | 53.00 | 24.15 | 7.27 |
| Q3 2025 | 73.35 | 31.31 | 0.47 |
| Q4 2025 | 71.31 | 31.28 | 1.67 |
Analysts Estimates (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 17.00 | 14.58 |
Estimates vs Actual (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| GIB Capital | 17.00 | 14.58 |
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