NADEC profit up 3% to SAR 218.7M in H1 2025; Q2 at SAR 115.3M

27/07/2025 Argaam Exclusive

National Agricultural Development Co. (NADEC) reported an increase of 3% in H1 2025 net profit to SAR 218.7 million, compared with SAR 213.2 million a year earlier.



Financials (Million Riyal)

Item 6m 2024 6m 2025 Change‬
Revenues 1,647.64 1,841.92 11.8 %
Gross Income 621.27 638.91 2.8 %
Operating Income 214.61 217.56 1.4 %
Net Income 213.21 218.68 2.6 %
Average Shares 301.64 301.64 -
Earnings Per Share before unusual items (Riyals) 0.71 0.71 0.8 %
EPS (Riyal) 0.71 0.72 2.6 %

The company’s revenue for the current period increased by 11.79% compared to the similar period last year, this was on account of increase in sales of dairy and food processing segment by 1.79%, protein segment by 66.68% and agri segment by 274.09%.

 

Other expenses decreased in the current period by SAR 10.25 million compared to the previous period mainly on the decrease in losses on sale of biological assets and dividend income received.

 

Additionally, treasury income increased in the current period by 20.10% year-on-year (YoY), mainly due to higher deposits.

 

Despite the changes in the preceding elements that positively impacted the net profit of NADEC in the current period, there are other elements that negatively impacted the net profit of the current period.

 

Cost of sales percentage on revenue increased during the current period by 3.02% YoY, mainly on account of the product mix.

 

Selling and marketing expenses increased by 3.23% YoY due to the increase in distribution cost.

 

Impairment losses for trade receivables increased by SAR 6.35 million YoY mainly on account of the increase in receivable.

 

Financing cost increased in the current period by 18.67% YoY driven by the increase in interest expense on lease liability.

 

During the similar period last year the company recognized SAR 17.32 million which represents its share of profit from Joint venture investment but no such income during the current period.

 

All the above elements collectively impacted the gross profit and operating profit leading to an increase in gross profit by 2.84% YoY, due to the increase in the revenue by 11.79% and this increase is partially offset by increase in percentage of cost of sales over the net revenue 3.02%.

 

Operating profit for the current period increased by 0.22% YoY due to increase in revenue and decrease in other expenses and this increase was partially offset by increase in cost of sales percentage over revenue, selling & marketing expenses and impairment losses on trade receivables.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 790.06 830.47 5.1 %
Gross Income 298.57 313.16 4.9 %
Operating Income 105.07 108.11 2.9 %
Net Income 111.88 115.26 3.0 %
Average Shares 301.64 301.64 -
Earnings Per Share before unusual items (Riyal) 0.37 0.37 (0.3 %)
EPS (Riyal) 0.37 0.38 3.0 %

The second-quarter net earnings grew 3% to SAR 115.26 million, from SAR 111.88 million in Q2 2024.

 

Sequentially, NADEC’s net profits grew by 11.4% from SAR 103.4 million in Q1 2025.

 

Shareholders’ equity, no minority interest, rose to SAR 4.45 billion as of June 30, 2025, from SAR 3.80 billion in the year-earlier period.

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Share Price

National Agricultural Development Co.
12.52
(0.27) (2.11 %)

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Financial Ratios
Current
Market Cap (M Riyal) 3,776.53
Enterprise Value (EV) (M Riyal) 2,716.04
Shares Outstanding ((M)) 301.64
Recurring EPS ( Riyal) (TTM) 0.57
Book Value (BV) ( Riyal) 15.88
Par Value ( Riyal) 10.00
Recurring P/E (TTM) 21.90
P/E (TTM) 14.95
Price/book 0.79
Dividend Yield (%) (Last Year) -
Return on Average Assets (%) (TTM) 4.1
Return on Average Equity (%) (TTM) 5.4
EV/adj EBITDA 4.95
EV/Revenues 0.77
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Financial results (Million Riyal)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2003 99.49 - 30.77 - 2.71 -
Q2 2003 135.53 - 38.21 - 6.10 -
Q3 2003 136.70 - 36.21 - 5.93 -
Q4 2003 150.47 - 55.64 - 17.45 -
Q1 2004 115.69 16.3 % 41.27 34.1 % 8.41 210.9 %
Q2 2004 172.15 27.0 % 56.56 48.0 % 19.47 219.4 %
Q3 2004 150.68 10.2 % 55.81 54.1 % 15.44 160.2 %
Q4 2004 150.71 0.2 % 58.36 4.9 % 12.63 (27.6 %)
Q1 2005 120.16 3.9 % 41.75 1.2 % 5.87 (30.3 %)
Q2 2005 165.18 (4.0 %) 73.23 29.5 % 28.30 45.4 %
Q3 2005 168.67 11.9 % 60.27 8.0 % 13.12 (15.0 %)
Q4 2005 248.69 65.0 % 77.14 32.2 % 15.71 24.4 %
Q1 2006 151.17 25.8 % 51.71 23.9 % 3.71 (36.8 %)
Q2 2006 246.28 49.1 % 78.37 7.0 % 19.30 (31.8 %)
Q3 2006 216.32 28.2 % 103.47 71.7 % 39.32 199.6 %
Q4 2006 237.84 (4.4 %) 92.24 19.6 % 19.01 21.0 %
Q1 2007 195.37 29.2 % 73.08 41.3 % 8.44 127.6 %
Q2 2007 294.84 19.7 % 95.70 22.1 % 14.59 (24.4 %)
Q3 2007 276.68 27.9 % 122.38 18.3 % 39.53 0.5 %
Q4 2007 315.24 32.5 % 115.43 25.1 % 22.34 17.5 %
Q1 2008 259.00 32.6 % 89.04 21.8 % 14.45 71.2 %
Q2 2008 403.32 36.8 % 128.77 34.5 % 38.47 163.8 %
Q3 2008 358.36 29.5 % 143.94 17.6 % 38.95 (1.5 %)
Q4 2008 317.96 0.9 % 114.89 (0.5 %) (3.56) (115.9 %)
Q1 2009 279.43 7.9 % 92.64 4.1 % 3.90 (73.0 %)
Q2 2009 390.91 (3.1 %) 100.65 (21.8 %) (4.66) (112.1 %)
Q3 2009 344.95 (3.7 %) 131.08 (8.9 %) 24.81 (36.3 %)
Q4 2009 319.22 0.4 % 94.08 (18.1 %) (17.55) (393.8 %)
Q1 2010 318.88 14.1 % 108.92 17.6 % 8.12 108.0 %
Q2 2010 402.13 2.9 % 119.66 18.9 % 11.29 342.4 %
Q3 2010 353.50 2.5 % 134.21 2.4 % 24.67 (0.6 %)
Q4 2010 373.05 16.9 % 115.62 22.9 % (7.84) 55.3 %
Q1 2011 345.99 8.5 % 123.33 13.2 % 25.29 211.4 %
Q2 2011 430.32 7.0 % 137.27 14.7 % 24.99 121.4 %
Q3 2011 405.64 14.7 % 151.48 12.9 % 36.96 49.8 %
Q4 2011 375.71 0.7 % 137.77 19.2 % 33.15 522.6 %
Q1 2012 368.00 6.4 % 139.45 13.1 % 22.32 (11.7 %)
Q2 2012 489.99 13.9 % 167.58 22.1 % 37.46 49.9 %
Q3 2012 456.77 12.6 % 180.18 18.9 % 42.35 14.6 %
Q4 2012 412.72 9.8 % 149.34 8.4 % 20.10 (39.4 %)
Q1 2013 424.48 15.3 % 161.86 16.1 % 26.28 17.8 %
Q2 2013 543.00 10.8 % 184.49 10.1 % 37.72 0.7 %
Q3 2013 512.17 12.1 % 189.43 5.1 % 41.47 (2.1 %)
Q4 2013 448.44 8.7 % 168.89 13.1 % 24.72 22.9 %
Q1 2014 484.04 14.0 % 181.66 12.2 % 34.41 30.9 %
Q2 2014 575.64 6.0 % 209.51 13.6 % 34.61 (8.3 %)
Q3 2014 504.62 (1.5 %) 202.12 6.7 % 48.70 17.4 %
Q4 2014 508.06 13.3 % 181.69 7.6 % 30.03 21.5 %
Q1 2015 534.41 10.4 % 201.91 11.2 % 36.82 7.0 %
Q2 2015 689.65 19.8 % 258.42 23.3 % 49.92 44.2 %
Q3 2015 566.66 12.3 % 241.42 19.4 % 56.31 15.6 %
Q4 2015 553.18 8.9 % 248.35 36.7 % 43.29 44.1 %
Q1 2016 509.36 (4.7 %) 202.88 0.5 % 39.53 7.4 %
Q2 2016 638.59 (7.4 %) 245.44 (5.0 %) 52.82 5.8 %
Q3 2016 550.24 (2.9 %) 203.74 (15.6 %) 52.15 (7.4 %)
Q4 2016 478.32 (13.5 %) 186.58 (24.9 %) 30.39 (29.8 %)
Q1 2017 481.94 (5.4 %) 183.29 (9.7 %) 23.14 (41.5 %)
Q2 2017 578.64 (9.4 %) 203.13 (17.2 %) 28.67 (45.7 %)
Q3 2017 510.76 (7.2 %) 179.16 (12.1 %) 26.24 (49.7 %)
Q4 2017 461.14 (3.6 %) 165.50 (11.3 %) 1.98 (93.5 %)
Q1 2018 474.09 (1.6 %) 162.54 (11.3 %) 19.36 (16.3 %)
Q2 2018 559.72 (3.3 %) 212.38 4.6 % 39.58 38.1 %
Q3 2018 574.71 12.5 % 221.26 23.5 % 58.99 124.8 %
Q4 2018 487.52 5.7 % 178.90 8.1 % 12.54 534.4 %
Q1 2019 530.47 11.9 % 203.27 25.1 % 42.88 121.5 %
Q2 2019 604.19 7.9 % 227.57 7.2 % 53.48 35.1 %
Q3 2019 578.45 0.7 % 218.31 (1.3 %) 62.51 6.0 %
Q4 2019 512.15 5.1 % 195.44 9.2 % 33.01 163.2 %
Q1 2020 559.15 5.4 % 202.47 (0.4 %) 36.07 (15.9 %)
Q2 2020 608.06 0.6 % 211.64 (7.0 %) 33.04 (38.2 %)
Q3 2020 587.23 1.5 % 182.87 (16.2 %) 10.01 (84.0 %)
Q4 2020 548.62 7.1 % 128.87 (34.1 %) (14.98) (145.4 %)
Q1 2021 540.96 (3.3 %) 174.60 (13.8 %) 24.66 (31.6 %)
Q2 2021 548.74 (9.8 %) 167.19 (21.0 %) 11.52 (65.1 %)
Q3 2021 610.76 4.0 % 180.66 (1.2 %) 24.74 147.2 %
Q4 2021 571.86 4.2 % 108.40 (15.9 %) (67.24) (348.9 %)
Q1 2022 613.53 13.4 % 191.19 9.5 % 34.98 41.8 %
Q2 2022 707.75 29.0 % 191.37 14.5 % 37.43 224.9 %
Q3 2022 702.67 15.0 % 220.39 22.0 % 48.97 97.9 %
Q4 2022 670.30 17.2 % 205.39 89.5 % 38.17 156.8 %
Q1 2023 749.41 22.1 % 278.15 45.5 % 65.84 88.2 %
Q2 2023 785.86 11.0 % 295.88 54.6 % 86.88 132.1 %
Q3 2023 861.10 22.5 % 323.61 46.8 % 97.63 99.4 %
Q4 2023 800.60 19.4 % 286.11 39.3 % 88.14 130.9 %
Q1 2024 857.58 14.4 % 322.71 16.0 % 109.54 66.4 %
Q2 2024 790.06 0.5 % 298.57 0.9 % 105.07 20.9 %
Q3 2024 791.09 (8.1 %) 290.33 (10.3 %) 108.75 11.4 %
Q4 2024 781.67 (2.4 %) 280.72 (1.9 %) 98.03 11.2 %
Q1 2025 1,011.45 17.9 % 325.75 0.9 % 109.45 (0.1 %)
Q2 2025 830.47 5.1 % 313.16 4.9 % 108.11 2.9 %


Profit Performance (Million Riyal)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2003 1.98 - 0.01 - 1.98 0.01
Q2 2003 5.73 - 0.03 - 5.73 0.03
Q3 2003 6.58 - 0.03 - 6.58 0.03
Q4 2003 13.25 - 0.06 - 13.25 0.06
Q1 2004 8.32 320.2 % 0.04 - 8.32 0.04
Q2 2004 21.02 267.0 % 0.10 - 21.02 0.10
Q3 2004 15.74 139.1 % 0.07 - 15.74 0.07
Q4 2004 13.25 (0.1 %) 0.06 - 13.25 0.06
Q1 2005 6.01 (27.8 %) 0.03 - 6.01 0.03
Q2 2005 27.03 28.6 % 0.13 - 27.03 0.13
Q3 2005 12.06 (23.4 %) 0.06 - 12.06 0.06
Q4 2005 17.08 28.9 % 0.08 - 17.08 0.08
Q1 2006 5.27 (12.3 %) 0.02 - 5.27 0.02
Q2 2006 19.38 (28.3 %) 0.09 - 19.38 0.09
Q3 2006 36.66 204.0 % 0.17 - 36.66 0.17
Q4 2006 56.99 233.8 % 0.27 36.42 20.58 0.10
Q1 2007 23.56 347.1 % 0.11 - 23.56 0.11
Q2 2007 22.89 18.1 % 0.11 - 22.89 0.11
Q3 2007 38.35 4.6 % 0.18 - 38.35 0.18
Q4 2007 (13.22) (123.2 %) (0.06) - (13.22) (0.06)
Q1 2008 4.08 (82.7 %) 0.02 (2.13) 6.21 0.03
Q2 2008 37.79 65.1 % 0.18 0.06 37.72 0.18
Q3 2008 31.64 (17.5 %) 0.15 0.03 31.61 0.15
Q4 2008 (4.71) 64.4 % (0.02) 9.88 (14.59) (0.07)
Q1 2009 (4.37) (207.1 %) (0.02) 0.56 (4.92) (0.02)
Q2 2009 (16.84) (144.6 %) (0.08) 0.48 (17.32) (0.08)
Q3 2009 11.34 (64.2 %) 0.05 (0.09) 11.42 0.05
Q4 2009 (33.04) (602.0 %) (0.16) 0.63 (33.68) (0.16)
Q1 2010 3.82 187.6 % 0.02 1.82 2.00 0.01
Q2 2010 4.66 127.6 % 0.02 3.14 1.52 0.01
Q3 2010 15.94 40.6 % 0.07 1.43 14.51 0.07
Q4 2010 (13.96) 57.8 % (0.07) 1.17 (15.13) (0.07)
Q1 2011 20.53 436.8 % 0.10 1.24 19.29 0.09
Q2 2011 19.49 318.5 % 0.09 2.52 16.97 0.08
Q3 2011 30.07 88.6 % 0.14 1.71 28.36 0.13
Q4 2011 21.20 251.9 % 0.10 1.30 19.90 0.09
Q1 2012 21.48 4.6 % 0.10 4.75 16.73 0.08
Q2 2012 27.21 39.6 % 0.13 0.56 26.65 0.13
Q3 2012 32.67 8.7 % 0.15 1.09 31.59 0.15
Q4 2012 14.30 (32.5 %) 0.07 2.56 11.74 0.06
Q1 2013 22.35 4.0 % 0.10 2.20 20.14 0.09
Q2 2013 30.00 10.3 % 0.14 4.35 25.66 0.12
Q3 2013 33.02 1.1 % 0.16 2.63 30.38 0.14
Q4 2013 14.81 3.6 % 0.07 (1.45) 16.26 0.08
Q1 2014 24.77 10.9 % 0.12 - 24.77 0.12
Q2 2014 28.00 (6.7 %) 0.13 - 28.00 0.13
Q3 2014 34.41 4.2 % 0.16 - 34.41 0.16
Q4 2014 20.02 35.2 % 0.09 - 20.02 0.09
Q1 2015 26.16 5.6 % 0.12 - 26.16 0.12
Q2 2015 35.10 25.4 % 0.16 - 35.10 0.16
Q3 2015 45.69 32.8 % 0.21 - 45.69 0.21
Q4 2015 34.37 71.7 % 0.16 (3.97) 38.35 0.18
Q1 2016 23.75 (9.2 %) 0.11 (1.86) 25.60 0.12
Q2 2016 35.57 1.3 % 0.17 (3.45) 39.02 0.18
Q3 2016 28.65 (37.3 %) 0.13 (4.88) 33.53 0.16
Q4 2016 6.26 (81.8 %) 0.03 (10.85) 17.11 0.08
Q1 2017 4.34 (81.7 %) 0.02 - 4.34 0.02
Q2 2017 25.89 (27.2 %) 0.12 22.00 3.89 0.02
Q3 2017 17.33 (39.5 %) 0.08 7.69 9.63 0.05
Q4 2017 (7.61) (221.5 %) (0.04) - (7.61) (0.04)
Q1 2018 (5.02) (215.9 %) (0.02) - (5.02) (0.02)
Q2 2018 19.51 (24.6 %) 0.09 - 19.51 0.09
Q3 2018 35.13 102.8 % 0.17 - 35.13 0.17
Q4 2018 (47.88) (529.4 %) (0.22) (52.68) 4.79 0.02
Q1 2019 (3.67) 26.9 % (0.02) (20.77) 17.10 0.08
Q2 2019 7.07 (63.8 %) 0.03 (24.71) 31.77 0.15
Q3 2019 49.32 40.4 % 0.23 2.35 46.97 0.22
Q4 2019 (60.01) (25.3 %) (0.28) (79.80) 19.79 0.09
Q1 2020 18.19 595.3 % 0.09 - 18.19 0.09
Q2 2020 131.63 1763.1 % 0.62 111.61 20.01 0.09
Q3 2020 (44.89) (191.0 %) (0.21) (43.89) (1.01) 0.00
Q4 2020 (69.27) (15.4 %) (0.33) (57.25) (12.02) (0.06)
Q1 2021 6.37 (65.0 %) 0.03 - 6.37 0.03
Q2 2021 (17.35) (113.2 %) (0.08) - (17.35) (0.08)
Q3 2021 3.21 107.2 % 0.02 - 3.21 0.02
Q4 2021 (277.26) (300.3 %) (1.30) (182.26) (95.00) (0.45)
Q1 2022 15.12 137.6 % 0.07 - 15.12 0.07
Q2 2022 27.49 258.5 % 0.13 - 27.49 0.13
Q3 2022 27.75 763.6 % 0.13 - 27.75 0.13
Q4 2022 25.12 109.1 % 0.12 - 25.12 0.12
Q1 2023 37.69 149.2 % 0.18 - 37.69 0.18
Q2 2023 65.13 136.9 % 0.31 - 65.13 0.31
Q3 2023 75.27 171.2 % 0.35 - 75.27 0.35
Q4 2023 123.98 393.6 % 0.41 26.00 97.98 0.32
Q1 2024 101.33 168.9 % 0.34 - 101.33 0.34
Q2 2024 111.88 71.8 % 0.37 - 111.88 0.37
Q3 2024 113.38 50.6 % 0.38 - 113.38 0.38
Q4 2024 448.05 261.4 % 1.49 356.51 91.53 0.30
Q1 2025 103.42 2.1 % 0.34 - 103.42 0.34
Q2 2025 115.26 3.0 % 0.38 3.70 111.56 0.37

Profitability

Period Gross Margin Adjusted EBITDA margin Net Margin Before Unusual Items
Q1 2003 - - -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 30.80 % 18.65 % 5.28 %
Q1 2004 31.82 % 18.88 % 6.29 %
Q2 2004 32.99 % 20.04 % 8.55 %
Q3 2004 35.53 % 21.36 % 9.91 %
Q4 2004 35.98 % 20.83 % 9.90 %
Q1 2005 35.79 % 20.71 % 9.43 %
Q2 2005 39.06 % 23.02 % 10.57 %
Q3 2005 38.63 % 22.47 % 9.65 %
Q4 2005 35.92 % 21.42 % 8.85 %
Q1 2006 35.76 % 20.84 % 8.37 %
Q2 2006 32.83 % 18.26 % 6.60 %
Q3 2006 36.02 % 20.80 % 9.09 %
Q4 2006 38.26 % 21.45 % 9.62 %
Q1 2007 38.75 % 21.69 % 11.18 %
Q2 2007 38.60 % 20.90 % 10.98 %
Q3 2007 38.16 % 20.47 % 10.49 %
Q4 2007 37.57 % 19.11 % 6.62 %
Q1 2008 36.88 % 19.26 % 4.73 %
Q2 2008 36.33 % 20.22 % 5.51 %
Q3 2008 35.72 % 19.79 % 4.67 %
Q4 2008 35.61 % 19.23 % 4.55 %
Q1 2009 35.34 % 18.95 % 3.67 %
Q2 2009 33.57 % 16.47 % (0.39 %)
Q3 2009 32.95 % 16.22 % (1.91 %)
Q4 2009 31.36 % 15.24 % (3.33 %)
Q1 2010 31.64 % 15.57 % (2.73 %)
Q2 2010 32.76 % 16.95 % (1.35 %)
Q3 2010 32.78 % 15.00 % (1.12 %)
Q4 2010 33.05 % 14.96 % 0.20 %
Q1 2011 33.42 % 15.14 % 1.37 %
Q2 2011 33.96 % 15.14 % 2.37 %
Q3 2011 33.94 % 16.49 % 3.18 %
Q4 2011 35.30 % 19.08 % 5.43 %
Q1 2012 35.83 % 18.67 % 5.19 %
Q2 2012 36.37 % 18.81 % 5.59 %
Q3 2012 36.97 % 18.74 % 5.61 %
Q4 2012 36.85 % 17.78 % 5.02 %
Q1 2013 36.94 % 17.69 % 5.05 %
Q2 2013 36.79 % 17.39 % 4.85 %
Q3 2013 36.20 % 17.13 % 4.65 %
Q4 2013 36.55 % 17.30 % 4.79 %
Q1 2014 36.45 % 17.46 % 4.88 %
Q2 2014 37.10 % 17.35 % 4.92 %
Q3 2014 37.87 % 17.98 % 5.14 %
Q4 2014 37.40 % 18.12 % 5.17 %
Q1 2015 37.46 % 18.15 % 5.12 %
Q2 2015 37.74 % 18.33 % 5.17 %
Q3 2015 38.43 % 18.61 % 5.52 %
Q4 2015 40.54 % 19.28 % 6.20 %
Q1 2016 41.01 % 20.08 % 6.24 %
Q2 2016 41.37 % 21.22 % 6.55 %
Q3 2016 39.99 % 21.73 % 6.06 %
Q4 2016 38.53 % 22.08 % 5.30 %
Q1 2017 38.11 % 22.18 % 4.37 %
Q2 2017 37.18 % 21.65 % 2.82 %
Q3 2017 36.70 % 21.04 % 1.71 %
Q4 2017 35.97 % 20.18 % 0.50 %
Q1 2018 35.08 % 19.38 % 0.04 %
Q2 2018 35.88 % 19.59 % 0.82 %
Q3 2018 36.80 % 19.85 % 2.03 %
Q4 2018 36.98 % 19.22 % 2.60 %
Q1 2019 37.90 % 19.55 % 3.56 %
Q2 2019 37.83 % 19.83 % 4.04 %
Q3 2019 37.63 % 19.99 % 4.57 %
Q4 2019 37.96 % 21.11 % 5.20 %
Q1 2020 37.44 % 20.91 % 5.18 %
Q2 2020 36.67 % 20.23 % 4.65 %
Q3 2020 34.96 % 17.94 % 2.51 %
Q4 2020 31.52 % 15.49 % 1.09 %
Q1 2021 30.55 % 14.84 % 0.58 %
Q2 2021 29.36 % 13.99 % (1.08 %)
Q3 2021 28.96 % 14.30 % (0.88 %)
Q4 2021 27.76 % 11.60 % (4.52 %)
Q1 2022 27.61 % 11.42 % (4.01 %)
Q2 2022 26.82 % 11.44 % (1.96 %)
Q3 2022 27.40 % 11.63 % (0.95 %)
Q4 2022 30.00 % 14.77 % 3.54 %
Q1 2023 31.63 % 14.93 % 4.17 %
Q2 2023 34.38 % 16.11 % 5.35 %
Q3 2023 35.97 % 16.93 % 6.63 %
Q4 2023 37.03 % 17.92 % 8.64 %
Q1 2024 37.16 % 18.80 % 10.28 %
Q2 2024 37.20 % 19.44 % 11.68 %
Q3 2024 36.97 % 20.26 % 13.11 %
Q4 2024 37.02 % 20.74 % 12.98 %
2024 37.02 % 20.74 % 12.98 %
Q1 2025 35.43 % 20.04 % 12.45 %
Q2 2025 35.43 % 20.35 % 12.30 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2003 212.89 - - 4.05
Q2 2003 212.89 - - 4.08
Q3 2003 212.89 - - 4.11
Q4 2003 212.89 0.13 0.13 4.08
Q1 2004 212.89 0.16 0.16 4.11
Q2 2004 212.89 0.23 0.23 4.21
Q3 2004 212.89 0.27 0.27 4.29
Q4 2004 212.89 0.27 0.27 4.15
Q1 2005 212.89 0.26 0.26 4.17
Q2 2005 212.89 0.29 0.29 4.30
Q3 2005 212.89 0.27 0.27 4.35
Q4 2005 212.89 0.29 0.29 4.42
Q1 2006 212.89 0.29 0.29 4.46
Q2 2006 212.89 0.25 0.25 4.42
Q3 2006 212.89 0.37 0.37 4.52
Q4 2006 212.89 0.56 0.38 4.74
Q1 2007 212.89 0.64 0.47 4.88
Q2 2007 212.89 0.66 0.49 4.83
Q3 2007 212.89 0.67 0.49 4.83
Q4 2007 212.89 0.34 0.34 4.65
Q1 2008 212.89 0.24 0.25 4.66
Q2 2008 212.89 0.31 0.32 4.84
Q3 2008 212.89 0.28 0.29 4.99
Q4 2008 212.89 0.32 0.29 4.97
Q1 2009 212.89 0.28 0.23 4.74
Q2 2009 212.89 0.03 (0.02) 4.66
Q3 2009 212.89 (0.07) (0.12) 4.72
Q4 2009 212.89 (0.20) (0.21) 4.52
Q1 2010 212.89 (0.16) (0.18) 4.60
Q2 2010 212.89 (0.06) (0.09) 4.62
Q3 2010 212.89 (0.04) (0.07) 4.70
Q4 2010 212.89 0.05 0.01 4.56
Q1 2011 212.89 0.13 0.09 4.66
Q2 2011 212.89 0.20 0.17 4.75
Q3 2011 212.89 0.26 0.23 4.89
Q4 2011 212.89 0.43 0.40 4.99
Q1 2012 212.89 0.43 0.38 4.88
Q2 2012 212.89 0.47 0.43 5.01
Q3 2012 212.89 0.48 0.45 5.02
Q4 2012 212.89 0.45 0.41 5.09
Q1 2013 212.89 0.45 0.42 5.19
Q2 2013 212.89 0.47 0.42 5.19
Q3 2013 212.89 0.47 0.41 5.34
Q4 2013 212.89 0.47 0.43 5.41
Q1 2014 212.89 0.48 0.46 5.53
Q2 2014 212.89 0.47 0.47 5.66
Q3 2014 212.89 0.48 0.49 5.82
Q4 2014 212.89 0.50 0.50 5.91
Q1 2015 212.89 0.51 0.51 5.87
Q2 2015 212.89 0.54 0.54 6.03
Q3 2015 212.89 0.60 0.60 6.25
Q4 2015 212.89 0.66 0.68 6.41
Q1 2016 212.89 0.65 0.68 6.48
Q2 2016 212.89 0.65 0.70 6.52
Q3 2016 212.89 0.57 0.64 6.66
Q4 2016 212.89 0.44 0.54 6.66
Q1 2017 212.89 0.35 0.44 6.68
Q2 2017 212.89 0.31 0.28 6.70
Q3 2017 212.89 0.25 0.16 6.78
Q4 2017 212.89 0.19 0.05 6.70
Q1 2018 212.89 0.14 0.00 6.67
Q2 2018 212.89 0.11 0.08 6.76
Q3 2018 212.89 0.20 0.20 6.93
Q4 2018 212.89 0.01 0.26 6.79
Q1 2019 212.89 0.01 0.36 6.78
Q2 2019 212.89 (0.04) 0.42 6.81
Q3 2019 212.89 0.02 0.47 7.04
Q4 2019 212.89 (0.03) 0.54 6.77
Q1 2020 212.89 0.07 0.55 6.85
Q2 2020 212.89 0.65 0.49 7.47
Q3 2020 212.89 0.21 0.27 7.26
Q4 2020 212.89 0.17 0.12 6.94
Q1 2021 212.89 0.11 0.06 6.97
Q2 2021 212.89 (0.59) (0.11) 6.89
Q3 2021 212.89 (0.36) (0.09) 6.91
Q4 2021 212.89 (1.34) (0.48) 5.62
Q1 2022 212.89 (1.30) (0.44) 5.69
Q2 2022 212.89 (1.09) (0.23) 5.82
Q3 2022 212.89 (0.97) (0.12) 5.95
Q4 2022 212.89 0.45 0.45 6.08
Q1 2023 212.89 0.55 0.55 6.26
Q2 2023 212.89 0.73 0.73 6.57
Q3 2023 212.89 0.95 0.95 6.92
Q4 2023 301.64 1.00 0.92 11.91
Q1 2024 301.64 1.21 1.13 12.25
Q2 2024 301.64 1.37 1.28 12.62
Q3 2024 301.64 1.49 1.41 13.00
Q4 2024 301.64 2.57 1.39 14.25
Q1 2025 301.64 2.58 1.39 14.59
Q2 2025 301.64 2.59 1.39 14.77

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2003 - - 0.66
Q2 2003 - - 0.94
Q3 2003 - - 0.92
Q4 2003 41.04 41.04 1.30
Q1 2004 42.82 42.82 1.66
Q2 2004 35.31 35.31 1.94
Q3 2004 37.77 37.77 2.41
Q4 2004 35.16 35.16 2.32
Q1 2005 40.24 40.24 2.54
Q2 2005 85.14 85.14 5.77
Q3 2005 95.96 95.96 6.04
Q4 2005 More than 100 More than 100 7.73
Q1 2006 72.12 72.12 4.66
Q2 2006 More than 100 More than 100 6.38
Q3 2006 71.03 71.03 5.79
Q4 2006 19.16 27.67 2.24
Q1 2007 24.27 33.09 3.19
Q2 2007 19.32 26.10 2.63
Q3 2007 22.38 30.11 3.09
Q4 2007 50.25 50.25 3.63
Q1 2008 64.99 62.43 3.41
Q2 2008 51.70 50.15 3.36
Q3 2008 47.08 45.54 2.67
Q4 2008 39.04 44.07 2.54
Q1 2009 41.40 50.15 2.48
Q2 2009 More than 100 NEG 3.37
Q3 2009 NEG NEG 3.32
Q4 2009 NEG NEG 2.98
Q1 2010 NEG NEG 2.67
Q2 2010 NEG NEG 2.23
Q3 2010 NEG NEG 2.17
Q4 2010 More than 100 More than 100 2.28
Q1 2011 81.03 More than 100 2.22
Q2 2011 54.04 63.69 2.24
Q3 2011 39.67 44.99 2.14
Q4 2011 27.76 29.98 2.38
Q1 2012 30.50 34.33 2.71
Q2 2012 23.48 25.61 2.20
Q3 2012 26.19 28.32 2.51
Q4 2012 24.25 26.76 2.14
Q1 2013 23.86 25.56 2.08
Q2 2013 22.68 25.28 2.04
Q3 2013 24.64 27.93 2.16
Q4 2013 25.63 27.77 2.23
Q1 2014 33.06 34.94 2.88
Q2 2014 40.87 41.35 3.41
Q3 2014 44.06 43.45 3.63
Q4 2014 28.33 28.33 2.41
Q1 2015 35.79 35.79 3.11
Q2 2015 31.73 31.73 2.86
Q3 2015 25.57 25.57 2.44
Q4 2015 24.77 24.10 2.57
Q1 2016 16.88 16.20 1.70
Q2 2016 18.70 17.53 1.88
Q3 2016 17.66 15.83 1.52
Q4 2016 30.52 24.95 2.03
Q1 2017 45.43 36.17 2.39
Q2 2017 49.85 55.16 2.28
Q3 2017 66.87 More than 100 2.49
Q4 2017 97.21 More than 100 2.72
Q1 2018 More than 100 More than 100 3.30
Q2 2018 More than 100 More than 100 2.98
Q3 2018 90.13 90.13 2.57
Q4 2018 More than 100 64.96 2.44
Q1 2019 More than 100 42.34 2.25
Q2 2019 NEG 32.71 2.00
Q3 2019 More than 100 31.49 2.11
Q4 2019 NEG 28.65 2.30
Q1 2020 More than 100 22.52 1.80
Q2 2020 28.94 38.36 2.53
Q3 2020 More than 100 81.02 2.99
Q4 2020 More than 100 More than 100 2.90
Q1 2021 More than 100 More than 100 3.06
Q2 2021 NEG NEG 3.95
Q3 2021 NEG NEG 3.58
Q4 2021 NEG NEG 3.66
Q1 2022 NEG NEG 3.60
Q2 2022 NEG NEG 3.65
Q3 2022 NEG NEG 2.93
Q4 2022 30.80 30.80 2.27
Q1 2023 33.73 33.73 2.99
Q2 2023 38.21 38.21 4.26
Q3 2023 33.67 33.67 4.64
Q4 2023 27.81 30.43 2.34
Q1 2024 23.92 25.75 2.37
Q2 2024 22.78 24.31 2.47
Q3 2024 18.58 19.72 2.14
Q4 2024 9.61 17.80 1.73
Q1 2025 9.75 18.02 1.72
Q2 2025 8.17 15.17 1.43

Business Segments (Million Riyal)

Compared With The
Period Diary and food production Sector Agricultural Activity Protein. Adjustments
Q3 2005 114.00 55.00 - -
Q4 2005 138.00 111.00 - -
Q1 2006 118.00 38.00 - -
Q2 2006 140.00 125.00 - -
Q3 2006 166.00 35.00 - -
Q4 2006 162.00 68.00 - -
Q1 2007 149.00 51.00 - -
Q2 2007 188.00 122.00 - -
Q3 2007 221.00 42.00 - -
Q4 2007 203.00 107.00 - -
Q1 2008 205.00 57.00 - -
Q2 2008 256.00 152.00 - -
Q3 2008 290.00 66.00 - -
Q4 2008 243.00 70.00 - -
Q1 2009 226.00 53.00 - -
Q2 2009 268.00 125.00 - -
Q3 2009 304.00 39.00 - -
Q4 2009 260.00 60.00 - -
Q1 2010 262.00 58.00 - -
Q2 2010 296.00 114.00 - -
Q3 2010 314.00 34.00 - -
Q4 2010 282.00 88.00 - -
Q1 2011 283.00 64.00 - -
Q2 2011 320.00 124.00 - -
Q3 2011 343.00 53.00 - -
Q4 2011 304.00 67.00 - -
Q1 2012 318.00 50.00 - -
Q2 2012 374.00 121.00 - -
Q3 2012 402.00 50.00 - -
Q4 2012 352.00 60.00 - -
Q1 2013 380.00 45.00 - -
Q2 2013 419.00 124.00 - -
Q3 2013 472.00 40.00 - -
Q4 2013 396.00 52.00 - -
Q1 2014 450.00 34.00 - -
Q2 2014 494.00 82.00 - -
Q3 2014 475.00 29.00 - -
Q4 2014 457.00 51.00 - -
Q1 2015 478.00 56.00 - -
Q2 2015 563.00 134.00 - -
Q3 2015 468.00 54.00 - -
Q4 2015 514.00 62.00 - -
Q1 2016 477.97 50.36 - (18.98)
Q2 2016 557.12 153.10 - (71.63)
Q3 2016 501.92 130.07 - (81.74)
Q4 2016 440.00 115.34 - (77.02)
Q1 2017 454.05 49.71 - (21.83)
Q2 2017 522.99 155.92 - (100.26)
Q3 2017 463.36 140.82 - (93.43)
Q4 2017 419.96 116.16 - (74.98)
Q1 2018 435.05 72.91 - (33.88)
Q2 2018 485.11 149.04 - (74.44)
Q3 2018 506.35 155.11 - (86.76)
Q4 2018 460.47 65.34 - (38.29)
Q1 2019 502.12 50.71 - (22.36)
Q2 2019 559.68 59.21 - (14.69)
Q3 2019 542.40 55.99 - (19.94)
Q4 2019 495.71 33.58 - (17.15)
Q1 2020 529.79 48.62 - (19.26)
Q2 2020 572.05 49.27 - (13.26)
Q3 2020 557.70 54.97 - (25.44)
Q4 2020 502.70 68.38 - (22.46)
Q3 2021 587.74 46.93 - (23.91)
Q4 2021 540.45 44.65 - (13.24)
Q1 2022 596.91 33.17 - (16.55)
Q2 2022 660.80 62.49 - (15.54)
Q3 2022 687.01 24.59 - (8.93)
Q4 2022 655.77 23.08 - (8.55)
Q1 2023 749.16 11.43 - (11.18)
Q2 2023 736.85 63.62 - (14.62)
Q3 2023 836.54 34.97 - (10.41)
Q4 2023 757.54 57.80 - (14.75)
Q1 2024 804.74 16.93 48.88 (12.97)
Q2 2024 737.57 43.31 43.90 (34.72)
Q3 2024 759.40 34.83 37.73 (40.88)
Q4 2024 722.71 41.25 49.78 (32.07)
Q1 2025 836.95 124.15 95.33 (44.98)
Q2 2025 751.64 45.31 59.32 (25.80)

Analysts Estimates (Million Riyal)

Item Profit (Expected) Profit (Actual) Change
Average 116.50 115.26

Estimates vs Actual (Million Riyal)

Item Profit (Expected) Profit (Actual) Change‬ Profit Before Unusual Items Change‬
Al Rajhi Capital 114.00 115.26 111.56
United Securities Company 119.00 115.26 111.56

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