stc 9M 2022 profit up 8% to SAR 9.413 bln; Q3 at SAR 3.541 bln

27/10/2022 Argaam Exclusive

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stc reported a net profit after Zakat and tax of SAR 9.413 billion for the first nine months of 2022, an 8% increase, compared to SAR 8.698 billion in the year-earlier period.

The higher profit was due to a SAR 3.068 billion increase in revenue, offset by a SAR 18 million slump in the cost of revenue due to the reversal of contingent liability provision of SAR 1.079 billion. Accordingly, this led to a rise in gross profit by SAR 3.086 billion.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	47,329.62	50,057.06	5.8 %
Gross Income	25,278.18	27,285.59	7.9 %
Operating Income	9,923.60	11,040.92	11.3 %
Net Income	8,697.69	9,413.44	8.2 %
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	1.74	1.88	8.2 %

The telco’s Q3 2022 net profit after Zakat and tax reached SAR 3.541 billion, up by 21% from SAR 2.924 billion, due to a revenue increase by SAR 732 million year-on-year (YoY), offset by a decrease of SAR 939 million in cost of revenue, leading to an increase of SAR 1.671 billion in gross profit.

On a sequential basis, Q3 net profit jumped 24.8% from SAR 2.837 billion.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	15,735.35	16,307.74	3.6 %
Gross Income	8,368.88	8,961.11	7.1 %
Operating Income	3,191.71	3,497.49	9.6 %
Net Income	2,924.39	3,541.00	21.1 %
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	0.58	0.71	21.1 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	16,829.96	16,307.74	(3.1 %)
Gross Income	9,174.08	8,961.11	(2.3 %)
Operating Income	3,719.65	3,497.49	(6.0 %)
Net Income	2,837.35	3,541.00	24.8 %
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	0.57	0.71	24.8 %

Total shareholders’ equity, after minority interest, reached SAR 73.331 billion as of Sept. 30, 2022, compared to SAR 68.503 billion in the year-earlier period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2013	11,473.88	3.7 %	6,494.46	2.6 %	2,717.94	1.6 %
Q2 2013	11,433.47	3.8 %	6,733.78	6.0 %	3,195.05	22.1 %
Q3 2013	11,426.85	0.0 %	7,193.36	11.4 %	3,377.39	36.7 %
Q4 2013	11,270.43	0.3 %	6,991.64	14.2 %	2,801.88	28.9 %
2013	45,604.63	1.9 %	27,413.24	8.5 %	12,092.26	21.7 %
Q1 2014	10,782.89	(6.0 %)	6,211.34	(4.4 %)	2,665.78	(1.9 %)
Q2 2014	11,722.00	2.5 %	7,023.53	4.3 %	2,961.46	(7.3 %)
Q3 2014	11,754.61	2.9 %	7,620.88	5.9 %	3,540.12	4.8 %
Q4 2014	11,848.40	5.1 %	7,300.50	4.4 %	2,782.99	(0.7 %)
2014	45,825.64	0.5 %	28,155.63	2.7 %	12,030.59	(0.5 %)
Q1 2015	12,473.48	15.7 %	7,543.92	21.5 %	3,379.74	26.8 %
Q2 2015	12,222.15	4.3 %	7,164.16	2.0 %	2,963.44	0.1 %
Q3 2015	12,894.71	9.7 %	7,624.10	0.0 %	3,038.06	(14.2 %)
Q4 2015	13,246.19	11.8 %	8,010.86	9.7 %	2,554.39	(8.2 %)
2015	50,650.61	10.5 %	30,344.82	7.8 %	11,859.28	(1.4 %)
Q1 2016	13,228.62	6.1 %	7,076.10	(6.2 %)	2,856.43	(15.5 %)
Q2 2016	13,412.97	9.7 %	7,470.82	4.3 %	2,863.30	(3.4 %)
Q3 2016	14,025.79	8.8 %	7,117.39	(6.6 %)	2,402.82	(20.9 %)
Q4 2016	13,010.95	(1.8 %)	7,023.48	(12.3 %)	1,828.54	(28.4 %)
2016	53,678.34	6.0 %	28,687.78	(5.5 %)	9,951.09	(16.1 %)
Q1 2017	12,524.11	(5.3 %)	6,923.88	(2.2 %)	2,615.07	(8.4 %)
Q2 2017	13,041.18	(2.8 %)	6,911.04	(7.5 %)	2,583.68	(9.8 %)
Q3 2017	12,621.35	(10.0 %)	7,400.59	4.0 %	2,906.90	21.0 %
Q4 2017	12,502.72	(3.9 %)	7,347.91	4.6 %	2,880.37	57.5 %
2017	50,689.35	(5.6 %)	28,583.42	(0.4 %)	10,986.01	10.4 %
Q1 2018	12,349.08	(1.4 %)	6,934.85	0.2 %	2,632.35	0.7 %
Q2 2018	13,079.39	0.3 %	7,167.18	3.7 %	2,900.92	12.3 %
Q3 2018	13,319.89	5.5 %	7,850.74	6.1 %	3,235.52	11.3 %
Q4 2018	13,214.89	5.7 %	8,520.31	16.0 %	3,476.44	20.7 %
2018	51,963.24	2.5 %	30,473.08	6.6 %	12,245.23	11.5 %
Q1 2019	13,385.75	8.4 %	7,903.48	14.0 %	3,275.20	24.4 %
Q2 2019	13,603.56	4.0 %	8,207.29	14.5 %	3,477.32	19.9 %
Q3 2019	14,113.63	6.0 %	7,920.82	0.9 %	3,328.05	2.9 %
Q4 2019	13,264.59	0.4 %	8,359.64	(1.9 %)	2,399.82	(31.0 %)
2019	54,367.53	4.6 %	32,391.23	6.3 %	12,480.39	1.9 %
Q1 2020	13,934.85	4.1 %	8,195.88	3.7 %	3,004.03	(8.3 %)
Q2 2020	14,920.23	9.7 %	8,340.99	1.6 %	3,062.17	(11.9 %)
Q3 2020	14,881.43	5.4 %	8,970.96	13.3 %	3,459.60	4.0 %
Q4 2020	15,216.80	14.7 %	8,446.57	1.0 %	3,205.33	33.6 %
2020	58,953.32	8.4 %	33,954.40	4.8 %	12,731.13	2.0 %
Q1 2021	15,695.50	12.6 %	8,557.10	4.4 %	3,481.61	15.9 %
Q2 2021	15,898.77	6.6 %	8,352.20	0.1 %	3,250.29	6.1 %
Q3 2021	15,735.35	5.7 %	8,368.88	(6.7 %)	3,191.71	(7.7 %)
Q4 2021	15,678.37	3.0 %	8,515.85	0.8 %	3,204.15	0.0 %
2021	63,007.99	6.9 %	33,794.03	(0.5 %)	13,127.76	3.1 %
Q1 2022	16,919.37	7.8 %	9,150.40	6.9 %	3,823.77	9.8 %
Q2 2022	16,829.96	5.9 %	9,174.08	9.8 %	3,719.65	14.4 %
Q3 2022	16,307.74	3.6 %	8,961.11	7.1 %	3,497.49	9.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	44,745.08	(19.6 %)	25,261.70	(19.4 %)	9,936.56	(11.1 %)
2013	45,604.63	1.9 %	27,413.24	8.5 %	12,092.26	21.7 %
2014	45,825.64	0.5 %	28,155.63	2.7 %	12,030.59	(0.5 %)
2015	50,650.61	10.5 %	30,344.82	7.8 %	11,859.28	(1.4 %)
2016	53,678.34	6.0 %	28,687.78	(5.5 %)	9,951.09	(16.1 %)
2017	50,689.35	(5.6 %)	28,583.42	(0.4 %)	10,986.01	10.4 %
2018	51,963.24	2.5 %	30,473.08	6.6 %	12,245.23	11.5 %
2019	54,367.53	4.6 %	32,391.23	6.3 %	12,480.39	1.9 %
2020	58,953.32	8.4 %	33,954.40	4.8 %	12,731.13	2.0 %
2021	63,007.99	6.9 %	33,794.03	(0.5 %)	13,127.76	3.1 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	1,549.96	(38.5 %)	0.31	(226.53)	1,776.50	0.36
Q2 2013	1,428.95	(40.6 %)	0.29	(1146.75)	2,575.70	0.52
Q3 2013	3,385.59	73.3 %	0.68	39.29	3,346.30	0.67
Q4 2013	3,532.57	797.9 %	0.71	487.51	3,045.06	0.61
2013	9,897.07	36.0 %	1.98	(846.48)	10,743.55	2.15
Q1 2014	2,390.94	54.3 %	0.48	0.64	2,390.29	0.48
Q2 2014	2,803.35	96.2 %	0.56	(50.57)	2,853.92	0.57
Q3 2014	3,371.75	(0.4 %)	0.67	2.86	3,368.89	0.67
Q4 2014	2,442.39	(30.9 %)	0.49	157.79	2,284.60	0.46
2014	10,959.49	10.7 %	2.19	110.72	10,848.77	2.17
Q1 2015	2,503.58	4.7 %	0.50	(45.68)	2,549.25	0.51
Q2 2015	2,558.33	(8.7 %)	0.51	(55.28)	2,613.61	0.52
Q3 2015	2,322.15	(31.1 %)	0.46	(88.53)	2,410.68	0.48
Q4 2015	1,950.49	(20.1 %)	0.39	98.04	1,852.45	0.37
2015	9,258.43	(15.5 %)	1.85	(91.45)	9,349.87	1.87
Q1 2016	2,396.58	(4.3 %)	0.48	(79.24)	2,475.82	0.50
Q2 2016	2,202.19	(13.9 %)	0.44	6.48	2,195.70	0.44
Q3 2016	2,216.94	(4.5 %)	0.44	(40.79)	2,257.72	0.45
Q4 2016	2,083.16	6.8 %	0.42	103.34	1,979.82	0.40
2016	8,898.86	(3.9 %)	1.78	(10.21)	8,909.07	1.78
Q1 2017	2,534.75	5.8 %	0.51	-	2,534.75	0.51
Q2 2017	2,356.48	7.0 %	0.47	-	2,356.48	0.47
Q3 2017	2,569.37	15.9 %	0.51	-	2,569.37	0.51
Q4 2017	2,554.98	22.6 %	0.51	-	2,554.98	0.51
2017	10,015.58	12.5 %	2.00	-	10,015.58	2.00
Q1 2018	2,587.53	2.1 %	0.52	-	2,587.53	0.52
Q2 2018	2,444.05	3.7 %	0.49	-	2,444.05	0.49
Q3 2018	2,642.62	2.9 %	0.53	-	2,642.62	0.53
Q4 2018	3,105.58	21.5 %	0.62	411.00	2,694.58	0.54
2018	10,779.77	7.6 %	2.16	411.00	10,368.77	2.07
Q1 2019	2,749.74	6.3 %	0.55	-	2,749.74	0.55
Q2 2019	2,848.02	16.5 %	0.57	-	2,848.02	0.57
Q3 2019	2,746.20	3.9 %	0.55	-	2,746.20	0.55
Q4 2019	2,320.71	(25.3 %)	0.46	287.48	2,033.23	0.41
2019	10,664.67	(1.1 %)	2.13	287.48	10,377.19	2.08
Q1 2020	2,912.75	5.9 %	0.58	496.00	2,416.75	0.48
Q2 2020	2,724.22	(4.3 %)	0.54	152.00	2,572.22	0.51
Q3 2020	2,765.54	0.7 %	0.55	-	2,765.54	0.55
Q4 2020	2,592.38	11.7 %	0.52	-	2,592.38	0.52
2020	10,994.88	3.1 %	2.20	648.00	10,346.88	2.07
Q1 2021	2,952.09	1.4 %	0.59	-	2,952.09	0.59
Q2 2021	2,821.21	3.6 %	0.56	-	2,821.21	0.56
Q3 2021	2,924.39	5.7 %	0.58	180.00	2,744.39	0.55
Q4 2021	2,613.65	0.8 %	0.52	83.21	2,530.44	0.51
2021	11,311.34	2.9 %	2.26	263.21	11,048.13	2.21
Q1 2022	3,035.10	2.8 %	0.61	(239.00)	3,274.10	0.65
Q2 2022	2,837.35	0.6 %	0.57	(298.00)	3,135.35	0.63
Q3 2022	3,541.00	21.1 %	0.71	357.00	3,184.00	0.64

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	7,275.96	(5.9 %)	1.46	(232.20)	7,508.16	1.50
2013	9,897.07	36.0 %	1.98	(846.48)	10,743.55	2.15
2014	10,959.49	10.7 %	2.19	110.72	10,848.77	2.17
2015	9,258.43	(15.5 %)	1.85	(91.45)	9,349.87	1.87
2016	8,898.86	(3.9 %)	1.78	(10.21)	8,909.07	1.78
2017	10,015.58	12.5 %	2.00	-	10,015.58	2.00
2018	10,779.77	7.6 %	2.16	411.00	10,368.77	2.07
2019	10,664.67	(1.1 %)	2.13	287.48	10,377.19	2.08
2020	10,994.88	3.1 %	2.20	648.00	10,346.88	2.07
2021	11,311.34	2.9 %	2.26	263.21	11,048.13	2.21

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	56.32 %	36.28 %	14.97 %
Q2 2013	56.63 %	37.08 %	15.19 %
Q3 2013	58.25 %	39.08 %	18.18 %
Q4 2013	60.11 %	40.50 %	23.56 %
2013	60.11 %	40.50 %	23.56 %
Q1 2014	60.41 %	41.03 %	25.29 %
Q2 2014	60.66 %	40.71 %	25.74 %
Q3 2014	61.16 %	41.37 %	25.61 %
Q4 2014	61.07 %	41.16 %	23.64 %
2014	61.44 %	41.59 %	23.67 %
Q1 2015	61.69 %	41.53 %	23.13 %
Q2 2015	61.35 %	41.33 %	22.39 %
Q3 2015	59.94 %	39.46 %	19.94 %
Q4 2015	59.69 %	38.10 %	18.54 %
2015	59.91 %	38.09 %	18.46 %
Q1 2016	57.91 %	36.88 %	18.13 %
Q2 2016	57.18 %	36.19 %	16.93 %
Q3 2016	55.04 %	34.38 %	16.29 %
Q4 2016	53.44 %	33.59 %	16.60 %
2016	53.44 %	33.59 %	16.60 %
Q1 2017	53.87 %	33.53 %	16.93 %
Q2 2017	53.18 %	32.69 %	17.35 %
Q3 2017	55.20 %	34.28 %	18.44 %
Q4 2017	56.39 %	37.24 %	19.76 %
2017	56.39 %	37.24 %	19.76 %
Q1 2018	56.61 %	37.32 %	19.93 %
Q2 2018	57.07 %	38.25 %	20.09 %
Q3 2018	57.17 %	38.48 %	19.96 %
Q4 2018	58.64 %	38.17 %	19.95 %
2018	58.64 %	38.17 %	19.95 %
Q1 2019	59.32 %	39.05 %	19.87 %
Q2 2019	60.69 %	40.28 %	20.43 %
Q3 2019	59.93 %	39.89 %	20.32 %
Q4 2019	59.58 %	39.11 %	19.09 %
2019	59.58 %	39.11 %	19.09 %
Q1 2020	59.51 %	38.62 %	18.29 %
Q2 2020	58.36 %	37.16 %	17.37 %
Q3 2020	59.42 %	37.62 %	17.17 %
Q4 2020	57.60 %	37.47 %	17.55 %
2020	57.60 %	37.47 %	17.55 %
Q1 2021	56.52 %	37.23 %	17.92 %
Q2 2021	55.64 %	37.10 %	18.04 %
Q3 2021	53.92 %	36.30 %	17.76 %
Q4 2021	53.63 %	36.25 %	17.53 %
2021	53.63 %	36.25 %	17.53 %
Q1 2022	53.54 %	36.27 %	17.70 %
Q2 2022	54.03 %	36.64 %	17.93 %
Q3 2022	54.46 %	36.91 %	18.44 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	56.46 %	36.37 %	16.78 %
2013	60.11 %	40.50 %	23.56 %
2014	61.44 %	41.59 %	23.67 %
2015	59.91 %	38.09 %	18.46 %
2016	53.44 %	33.59 %	16.60 %
2017	56.39 %	37.24 %	19.76 %
2018	58.64 %	38.17 %	19.95 %
2019	59.58 %	39.11 %	19.09 %
2020	57.60 %	37.47 %	17.55 %
2021	53.63 %	36.25 %	17.53 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	56.60 %	37.77 %	15.48 %
Q2 2013	58.90 %	41.17 %	22.53 %
Q3 2013	62.95 %	43.54 %	29.28 %
Q4 2013	62.04 %	39.53 %	27.02 %
Q1 2014	57.60 %	39.79 %	22.17 %
Q2 2014	59.92 %	39.92 %	24.35 %
Q3 2014	64.83 %	46.02 %	28.66 %
Q4 2014	61.62 %	38.82 %	19.28 %
Q1 2015	60.48 %	41.37 %	20.44 %
Q2 2015	58.62 %	39.22 %	21.38 %
Q3 2015	59.13 %	38.45 %	18.70 %
Q4 2015	60.48 %	33.66 %	13.98 %
Q1 2016	53.49 %	36.42 %	18.72 %
Q2 2016	55.70 %	36.30 %	16.37 %
Q3 2016	50.75 %	31.31 %	16.10 %
Q4 2016	53.98 %	30.36 %	15.22 %
Q1 2017	55.28 %	36.33 %	20.24 %
Q2 2017	52.99 %	33.01 %	18.07 %
Q3 2017	58.64 %	37.59 %	20.36 %
Q4 2017	58.77 %	42.19 %	20.44 %
Q1 2018	56.16 %	36.66 %	20.95 %
Q2 2018	54.80 %	36.63 %	18.69 %
Q3 2018	58.94 %	38.50 %	19.84 %
Q4 2018	64.48 %	40.78 %	20.39 %
Q1 2019	59.04 %	40.23 %	20.54 %
Q2 2019	60.33 %	41.57 %	20.94 %
Q3 2019	56.12 %	37.11 %	19.46 %
Q4 2019	63.02 %	37.59 %	15.33 %
Q1 2020	58.82 %	38.25 %	17.34 %
Q2 2020	55.90 %	35.80 %	17.24 %
Q3 2020	60.28 %	38.89 %	18.58 %
Q4 2020	55.51 %	37.00 %	17.04 %
Q1 2021	54.52 %	37.22 %	18.81 %
Q2 2021	52.53 %	35.39 %	17.74 %
Q3 2021	53.19 %	35.62 %	17.44 %
Q4 2021	54.32 %	36.79 %	16.14 %
Q1 2022	54.08 %	37.23 %	19.35 %
Q2 2022	54.51 %	36.86 %	18.63 %
Q3 2022	54.95 %	36.76 %	19.52 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	5,000.00	1.26	1.35	10.34
Q2 2013	5,000.00	1.07	1.38	10.39
Q3 2013	5,000.00	1.35	1.66	10.81
Q4 2013	5,000.00	1.98	2.15	11.25
Q1 2014	5,000.00	2.15	2.27	11.40
Q2 2014	5,000.00	2.42	2.33	11.74
Q3 2014	5,000.00	2.42	2.33	12.04
Q4 2014	5,000.00	2.20	2.18	12.08
Q1 2015	5,000.00	2.22	2.21	12.06
Q2 2015	5,000.00	2.18	2.16	12.13
Q3 2015	5,000.00	1.97	1.97	12.07
Q4 2015	5,000.00	1.87	1.89	12.11
Q1 2016	5,000.00	1.85	1.87	11.94
Q2 2016	5,000.00	1.77	1.79	11.88
Q3 2016	5,000.00	1.75	1.76	11.90
Q4 2016	5,000.00	1.78	1.78	11.99
Q1 2017	5,000.00	1.81	1.79	12.11
Q2 2017	5,000.00	1.84	1.83	12.21
Q3 2017	5,000.00	1.91	1.89	12.33
Q4 2017	5,000.00	2.00	2.00	12.57
Q1 2018	5,000.00	2.01	2.01	12.69
Q2 2018	5,000.00	2.03	2.03	12.76
Q3 2018	5,000.00	2.05	2.05	12.87
Q4 2018	5,000.00	2.16	2.07	13.10
Q1 2019	5,000.00	2.19	2.11	13.67
Q2 2019	5,000.00	2.27	2.19	12.51
Q3 2019	5,000.00	2.29	2.21	12.24
Q4 2019	5,000.00	2.13	2.08	12.35
Q1 2020	5,000.00	2.17	2.01	12.57
Q2 2020	5,000.00	2.14	1.95	12.58
Q3 2020	5,000.00	2.14	1.96	12.73
Q4 2020	5,000.00	2.20	2.07	12.79
Q1 2021	5,000.00	2.21	2.18	13.01
Q2 2021	5,000.00	2.23	2.23	12.78
Q3 2021	5,000.00	2.26	2.22	13.70
Q4 2021	5,000.00	2.26	2.21	13.85
Q1 2022	5,000.00	2.28	2.27	14.07
Q2 2022	5,000.00	2.28	2.34	14.36
Q3 2022	5,000.00	2.41	2.42	14.67

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	5,000.00	1.46	1.50	10.27
2013	5,000.00	1.98	2.15	11.25
2014	5,000.00	2.19	2.17	12.08
2015	5,000.00	1.85	1.87	12.11
2016	5,000.00	1.78	1.78	11.99
2017	5,000.00	2.00	2.00	12.57
2018	5,000.00	2.16	2.07	13.10
2019	5,000.00	2.13	2.08	12.35
2020	5,000.00	2.20	2.07	12.79
2021	5,000.00	2.26	2.21	13.85

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	12.44	11.60	1.52
Q2 2013	14.98	11.53	1.54
Q3 2013	12.78	10.43	1.60
Q4 2013	10.81	9.96	1.90
Q1 2014	12.29	11.62	2.32
Q2 2014	11.02	11.47	2.27
Q3 2014	12.29	12.76	2.47
Q4 2014	11.94	12.06	2.18
Q1 2015	11.29	11.35	2.08
Q2 2015	12.41	12.48	2.23
Q3 2015	12.47	12.43	2.03
Q4 2015	14.66	14.52	2.26
Q1 2016	13.92	13.74	2.15
Q2 2016	14.52	14.41	2.17
Q3 2016	12.69	12.67	1.87
Q4 2016	16.31	16.29	2.42
Q1 2017	14.80	14.91	2.21
Q2 2017	16.76	16.88	2.52
Q3 2017	14.83	14.99	2.30
Q4 2017	13.70	13.70	2.18
Q1 2018	16.46	16.46	2.61
Q2 2018	17.66	17.66	2.81
Q3 2018	16.72	16.72	2.66
Q4 2018	17.03	17.71	2.80
Q1 2019	19.67	20.43	3.15
Q2 2019	18.30	18.98	3.32
Q3 2019	19.01	19.71	3.55
Q4 2019	19.09	19.62	3.30
Q1 2020	16.16	17.42	2.78
Q2 2020	18.50	20.27	3.15
Q3 2020	18.73	20.52	3.15
Q4 2020	19.28	20.49	3.32
Q1 2021	22.98	23.30	3.90
Q2 2021	23.65	23.65	4.12
Q3 2021	22.50	22.86	3.71
Q4 2021	19.87	20.35	3.25
Q1 2022	18.92	18.96	3.06
Q2 2022	17.02	16.62	2.71
Q3 2022	16.36	16.23	2.68

Period	P/E	Adjusted P/E	Price/book
2012	11.90	11.53	1.69
2013	10.81	9.96	1.90
2014	12.00	12.12	2.18
2015	14.78	14.64	2.26
2016	16.31	16.29	2.42
2017	13.70	13.70	2.18
2018	17.03	17.71	2.80
2019	19.09	19.62	3.30
2020	19.28	20.49	3.32
2021	19.87	20.35	3.25

Business Segments (Million)

Compared With The

Period	STC (Saudi arabia)	STC channels Company	Solutions	Kuwait Telecommunication Company "STC Kuwait"	Telecommunications Towers Company ( TAWAL )	stc Bahrain BSC	stc Bank	Gulf Digital Media Model Company (GDMM) (Intigral)	Advanced Technology and Cybersecurity Company ( sirar )	Public Telecommunications Company (Specialized)	Other operating segments	Consolidation adjustments & eliminations	GSM	Landline	DATA	Un-allocated
Q1 2013	-	-	-	-	-	-	-	-	-	-	-	-	5,912.96	3,401.35	2,121.21	38.36
Q2 2013	-	-	-	-	-	-	-	-	-	-	-	-	6,276.02	3,413.90	1,645.45	98.11
Q3 2013	-	-	-	-	-	-	-	-	-	-	-	-	5,947.77	3,195.58	2,156.72	126.77
Q4 2013	-	-	-	-	-	-	-	-	-	-	-	-	6,048.69	3,174.74	2,296.23	(249.24)
Q1 2014	-	-	-	-	-	-	-	-	-	-	-	-	6,038.19	3,013.96	1,728.00	2.75
Q2 2014	-	-	-	-	-	-	-	-	-	-	-	-	6,352.36	3,157.29	2,215.10	(2.75)
Q3 2014	-	-	-	-	-	-	-	-	-	-	-	-	6,159.92	2,950.32	2,639.42	4.95
Q4 2014	-	-	-	-	-	-	-	-	-	-	-	-	6,070.61	3,035.10	2,471.11	(10.68)
Q1 2015	-	-	-	-	-	-	-	-	-	-	-	-	8,440.66	3,066.91	967.15	(1.23)
Q2 2015	-	-	-	-	-	-	-	-	-	-	-	-	7,996.74	3,171.23	1,057.86	(3.68)
Q3 2015	-	-	-	-	-	-	-	-	-	-	-	-	8,401.59	2,981.61	1,511.66	(0.15)
Q4 2015	-	-	-	-	-	-	-	-	-	-	-	-	8,640.52	3,050.16	1,273.82	95.77
Q1 2016	11,140.70	864.25	-	-	-	-	-	-	-	-	1,976.63	(752.96)	-	-	-	-
Q2 2016	11,759.92	814.10	-	-	-	-	-	-	-	-	2,092.28	(1253.32)	-	-	-	-
Q3 2016	11,578.66	694.60	-	-	-	-	-	-	-	-	2,148.24	(395.70)	-	-	-	-
Q4 2016	11,718.75	655.71	-	-	-	-	-	-	-	-	1,988.92	(2357.10)	-	-	-	-
Q1 2017	10,797.74	666.17	-	-	-	-	-	-	-	-	1,613.10	(552.90)	-	-	-	-
Q2 2017	11,131.56	742.11	-	-	-	-	-	-	-	-	2,239.26	(1071.76)	-	-	-	-
Q3 2017	9,839.32	467.79	-	-	-	-	-	-	-	-	2,071.73	242.50	-	-	-	-
Q4 2017	9,676.60	1,179.03	-	-	-	-	-	-	-	-	2,425.11	(806.03)	-	-	-	-
Q1 2018	9,698.95	1,252.37	-	-	-	-	-	-	-	-	2,042.44	(644.69)	-	-	-	-
Q2 2018	9,897.49	1,647.03	-	-	-	-	-	-	-	-	2,430.66	(895.78)	-	-	-	-
Q3 2018	10,197.06	1,110.89	-	-	-	-	-	-	-	-	2,416.37	(404.43)	-	-	-	-
Q4 2018	9,562.79	12,872.44	-	-	-	-	-	-	-	-	2,613.09	(11833.44)	-	-	-	-
Q1 2019	9,512.20	2,322.58	-	-	-	-	-	-	-	-	2,531.06	(980.09)	-	-	-	-
Q2 2019	10,340.08	6,278.51	-	-	-	-	-	-	-	-	3,051.22	(6066.25)	-	-	-	-
Q3 2019	10,294.47	4,341.27	-	-	-	-	-	-	-	-	3,354.69	(3876.80)	-	-	-	-
Q4 2019	10,112.36	4,467.44	-	-	-	-	-	-	-	-	3,691.23	(5006.43)	-	-	-	-
Q1 2020	10,333.04	4,295.21	-	-	-	-	-	-	-	-	3,610.19	(4303.59)	-	-	-	-
Q2 2020	10,283.06	4,966.19	-	-	-	-	-	-	-	-	3,779.31	(4108.33)	-	-	-	-
Q3 2020	11,041.84	3,706.50	-	-	-	-	-	-	-	-	4,215.33	(4082.24)	-	-	-	-
Q4 2020	11,240.89	4,559.90	-	-	-	-	-	-	-	-	4,129.05	(4713.03)	-	-	-	-
Q1 2021	11,258.37	4,929.84	1,866.79	-	-	-	-	-	-	-	2,254.30	(4613.80)	-	-	-	-
Q2 2021	11,223.51	5,327.80	1,937.20	-	-	-	-	-	-	-	2,352.57	(4942.31)	-	-	-	-
Q3 2021	11,469.19	4,745.07	1,951.46	-	-	-	-	-	-	-	2,473.09	(4903.46)	-	-	-	-
Q4 2021	11,494.77	5,626.77	1,452.88	-	-	-	-	-	-	-	2,867.06	(5763.11)	-	-	-	-
Q1 2022	12,299.31	3,078.37	2,242.90	950.30	673.83	419.14	235.36	125.23	54.81	69.58	4.78	(3234.24)	-	-	-	-
Q2 2022	12,220.50	2,770.27	2,085.15	934.00	698.86	427.20	249.65	130.68	148.33	75.09	5.23	(2915.01)	-	-	-	-
Q3 2022	12,370.96	2,596.56	2,039.16	947.92	717.35	448.35	262.45	109.97	111.80	76.24	17.97	(3390.98)	-	-	-	-

Period	STC (Saudi arabia)	STC channels Company	Solutions	Kuwait Telecommunication Company "STC Kuwait"	Telecommunications Towers Company ( TAWAL )	stc Bahrain BSC	stc Bank	Gulf Digital Media Model Company (GDMM) (Intigral)	Advanced Technology and Cybersecurity Company ( sirar )	Public Telecommunications Company (Specialized)	Other operating segments	Consolidation adjustments & eliminations	GSM	Landline	DATA	Un-allocated
2012	-	-	-	-	-	-	-	-	-	-	-	-	26,040.39	12,293.99	7,012.49	(601.79)
2013	-	-	-	-	-	-	-	-	-	-	-	-	24,185.44	13,185.56	8,219.62	14.01
2014	-	-	-	-	-	-	-	-	-	-	-	-	29,466.98	13,158.71	3,205.69	(5.73)
2015	-	-	-	-	-	-	-	-	-	-	-	-	33,479.51	12,269.91	4,810.49	90.71
2016	46,198.02	3,028.66	-	-	-	-	-	-	-	-	8,206.06	(4759.08)	-	-	-	-
2017	41,445.23	3,055.10	-	-	-	-	-	-	-	-	8,349.20	(2188.19)	-	-	-	-
2018	39,356.28	16,882.73	-	-	-	-	-	-	-	-	9,502.56	(13778.33)	-	-	-	-
2019	40,259.11	17,409.80	-	-	-	-	-	-	-	-	12,628.20	(15929.56)	-	-	-	-
2020	42,898.83	17,527.80	-	-	-	-	-	-	-	-	15,733.88	(17207.19)	-	-	-	-
2021	45,445.84	20,629.47	7,208.34	-	-	-	-	-	-	-	9,947.02	(20222.68)	-	-	-	-

Analysts Estimates (Million)

Item	Q3 2022 (e)	Q3 2022 (a)	Change‬
Average	2,943.57	3,541.00	20.30 %

Estimates vs Actual (Million)

Item	Q3 2022 (e)	Q3 2022 (a)	Change
Hermes	3,104.00	3,541.00	14.1 %
U-Capital	3,078.20	3,541.00	15.0 %
Al Rajhi Capital	3,039.00	3,541.00	16.5 %
Bank of America	3,004.00	3,541.00	17.9 %
SNB Capital	2,996.00	3,541.00	18.2 %
AlJazira Capital	2,980.80	3,541.00	18.8 %
Arqaam Capital	2,954.00	3,541.00	19.9 %
OSOOL AND BAKHEET	2,930.27	3,541.00	20.8 %
Riyad Capital	2,929.00	3,541.00	20.9 %
Sico	2,862.00	3,541.00	23.7 %
UBS Saudi Arabia	2,502.00	3,541.00	41.5 %

Financial Ratios

	Current
Market Cap (M Riyal)	198,500.00
Enterprise Value (EV) (M)	192,045.01
Shares Outstanding ((M))	5,000.00
EPS ( Riyal) (TTM)	2.70
Book Value (BV) ( Riyal)	15.86
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	16.39
P/E (TTM)	14.70
Price/book	2.50
Return on Average Assets (%) (TTM)	8.5
Return on Average Equity (%) (TTM)	17.1

Saudi Telecom Co. (STC)

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stc 9M 2022 profit up 8% to SAR 9.413 bln; Q3 at SAR 3.541 bln

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stc 9M 2022 profit up 8% to SAR 9.413 bln; Q3 at SAR 3.541 bln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2022

Revenue by Business Segment (Latest) 2022 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

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Saudi Telecom Co. (STC)

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