stc net profit up to SAR 11.23B in 9M 2024; Q3 at SAR 4.64B

04/11/2024 Argaam Exclusive

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Telecom operator stc posted SAR 11.23 billion in net profit for the first nine months of 2024, an increase of 2% from SAR 11.02 billion in the year-ago period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	54,489.21	56,627.37	3.9 %
Gross Income	26,067.89	26,384.07	1.2 %
Operating Income	9,988.74	10,530.87	5.4 %
Net Income	11,021.14	11,233.11	1.9 %
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	2.20	2.25	1.9 %

stc achieved revenues of SAR 56.62 billion in the nine-month period, which was partially offset by the increase in the cost of revenue by SAR 963 million. A withholding tax provision of SAR 1.5 billion was reversed in the current period as compared to reversal of a provision for non-recurring item of SAR 641 million in the comparable period last year.

The telco reported a net profit from discontinued operations of SAR 799 million in the current period from SAR 594 million a year earlier.

This is in addition to the decrease in Zakat and income tax expense by SAR 349 million.

On the other hand, operating expenses increased by SAR 349 million, mainly due to the booking of doubtful debt provision of SAR 554 million in selling and marketing expenses.

stc booked total other expenses of SAR 140 million from to SAR 967 million a year earlier.

This is despite the increase in finance income, net share in results of investments in associates and joint ventures, and lower net other expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	18,034.39	18,642.57	3.4 %
Gross Income	8,978.58	8,895.38	(0.9 %)
Operating Income	3,432.62	3,463.71	0.9 %
Net Income	4,904.02	4,642.83	(5.3 %)
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	0.98	0.93	(5.3 %)

Item	Q2 2024	Q3 2024	Change‬
Revenues	19,021.00	18,642.57	(2.0 %)
Gross Income	8,825.00	8,895.38	0.8 %
Operating Income	3,533.00	3,463.71	(2.0 %)
Net Income	3,304.39	4,642.83	40.5 %
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	0.66	0.93	40.5 %

The third-quarter net profit fell 5.3% year-on-year to SAR 4.64 billion.

Sequentially, stc reported a 40.5% jump in Q3 net profit from SAR 3.3 billion in Q2 2024.

Total shareholders’ equity, after minority interest, reached SAR 79.28 billion as of Sept. 30, 2024, compared to SAR 78.83 billion a year earlier.

Attached Documents

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %
Q4 2022	17,374.48	10.8 %	9,028.66	6.0 %	2,968.52	(7.4 %)
2022	67,431.55	7.0 %	36,314.26	7.5 %	14,009.44	6.7 %
Q1 2023	18,179.32	7.4 %	9,233.82	0.9 %	3,730.98	(2.4 %)
Q2 2023	18,326.98	8.9 %	9,015.43	(1.7 %)	3,280.50	(11.8 %)
Q3 2023	18,034.39	10.6 %	8,978.58	0.2 %	3,432.62	(1.9 %)
Q4 2023	17,724.31	2.0 %	8,845.26	(2.0 %)	2,768.24	(6.7 %)
2023	72,336.61	7.3 %	37,079.69	2.1 %	13,476.43	(3.8 %)
Q1 2024	19,100.02	5.1 %	9,386.18	1.6 %	3,856.21	3.4 %
Q2 2024	19,021.00	3.8 %	8,825.00	(2.1 %)	3,533.00	7.7 %
Q3 2024	18,642.57	3.4 %	8,895.38	(0.9 %)	3,463.71	0.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %
2022	67,431.55	7.0 %	36,314.26	7.5 %	14,009.44	6.7 %
2023	72,336.61	7.3 %	37,079.69	2.1 %	13,476.43	(3.8 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
Q4 2022	2,757.09	5.5 %	0.55	318.96	2,438.14	0.49
2022	12,170.54	7.6 %	2.43	138.96	12,031.58	2.41
Q1 2023	3,108.67	2.4 %	0.62	-	3,108.67	0.62
Q2 2023	3,008.45	6.0 %	0.60	130.00	2,878.45	0.58
Q3 2023	4,904.02	38.5 %	0.98	1,940.00	2,964.02	0.59
Q4 2023	2,274.24	(17.5 %)	0.45	83.00	2,191.24	0.44
2023	13,295.38	9.2 %	2.66	2,153.00	11,142.38	2.23
Q1 2024	3,285.89	5.7 %	0.66	-	3,285.89	0.66
Q2 2024	3,304.39	9.8 %	0.66	(21.30)	3,325.69	0.67
Q3 2024	4,642.83	(5.3 %)	0.93	1,331.31	3,311.52	0.66

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
2022	12,170.54	7.6 %	2.43	138.96	12,031.58	2.41
2023	13,295.38	9.2 %	2.66	2,153.00	11,142.38	2.23

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q4 2022	53.85 %	35.59 %	17.84 %
2022	53.85 %	35.59 %	17.84 %
Q1 2023	52.99 %	35.00 %	17.27 %
Q2 2023	51.63 %	33.71 %	16.54 %
Q3 2023	50.42 %	32.97 %	15.84 %
Q4 2023	49.92 %	32.79 %	15.42 %
2023	51.26 %	33.12 %	15.40 %
Q1 2024	49.50 %	32.56 %	15.47 %
Q2 2024	48.78 %	32.58 %	15.93 %
Q3 2024	48.27 %	32.20 %	16.26 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
2022	53.85 %	35.59 %	17.84 %
2023	51.26 %	33.12 %	15.40 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q4 2022	51.97 %	31.67 %	14.03 %
Q1 2023	50.79 %	34.89 %	17.10 %
Q2 2023	49.19 %	31.76 %	15.71 %
Q3 2023	49.79 %	33.53 %	16.44 %
Q4 2023	49.90 %	30.94 %	12.36 %
Q1 2024	49.14 %	33.90 %	17.20 %
Q2 2024	46.40 %	31.88 %	17.48 %
Q3 2024	47.72 %	31.99 %	17.76 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q4 2022	5,000.00	2.43	2.41	14.70
Q1 2023	5,000.00	2.45	2.37	14.93
Q2 2023	5,000.00	2.48	2.32	15.10
Q3 2023	5,000.00	2.76	2.28	15.77
Q4 2023	5,000.00	2.66	2.23	15.80
Q1 2024	5,000.00	2.69	2.26	16.09
Q2 2024	5,000.00	2.75	2.35	15.28
Q3 2024	5,000.00	2.70	2.42	15.86

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
2022	5,000.00	2.43	2.41	14.70
2023	5,000.00	2.66	2.23	15.80

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q4 2022	15.04	15.21	2.49
Q1 2023	16.35	16.88	2.68
Q2 2023	17.52	18.74	2.88
Q3 2023	13.64	16.51	2.38
Q4 2023	15.19	18.13	2.56
Q1 2024	14.70	17.49	2.46
Q2 2024	13.84	16.19	2.49
Q3 2024	16.18	18.04	2.76

Period	P/E	Adjusted P/E	Price/book
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
2022	15.04	15.21	2.49
2023	15.15	18.07	2.56

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 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)	-	-	-	-
Q4 2022	11,885.63	3,006.07	2,437.88	1,281.29	778.13	495.45	293.32	172.18	115.35	140.86	33.22	(3264.91)	-	-	-	-
Q1 2023	12,188.99	3,765.58	2,676.27	1,061.01	739.29	473.42	223.64	157.41	100.68	60.22	145.26	(3412.45)	-	-	-	-
Q2 2023	12,447.95	3,769.91	2,701.29	1,069.31	797.41	477.74	244.86	130.91	148.49	79.63	228.03	(3768.54)	-	-	-	-
Q3 2023	12,384.58	3,215.50	2,794.64	1,030.42	-	481.92	299.86	176.78	170.43	90.36	443.15	(3053.26)	-	-	-	-
Q4 2023	12,196.66	3,443.22	2,868.29	1,117.54	962.53	480.20	294.64	178.21	169.01	167.29	483.99	(4637.30)	-	-	-	-
Q1 2024	12,332.52	4,151.80	2,808.65	1,065.02	931.39	491.28	300.04	176.44	120.50	73.28	510.43	(3861.31)	-	-	-	-
Q2 2024	12,461.06	3,847.29	2,771.47	1,080.29	947.31	474.51	303.67	156.37	129.43	86.64	576.86	(3679.99)	-	-	-	-
Q3 2024	12,442.33	3,583.00	2,753.16	1,070.11	-	478.35	320.20	159.54	160.37	95.58	615.73	(3035.79)	-	-	-	-

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
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)	-	-	-	-
2022	48,776.40	11,451.27	8,805.09	4,113.51	2,868.17	1,790.15	1,040.79	538.06	430.29	361.77	61.20	(12805.14)	-	-	-	-
2023	49,218.18	14,194.21	11,040.49	4,278.28	3,343.35	1,913.29	1,063.01	643.31	588.61	397.49	1,300.44	(15644.04)	-	-	-	-

Analysts Estimates (Million)

Item	Q3 2024 (e)	Q3 2024 (a)	Change‬
Average	3,497.38	4,642.83	32.75 %

Estimates vs Actual (Million)

Item	Q3 2024 (e)	Q3 2024 (a)	Change
YAQEEN	3,857.00	4,642.83	20.4 %
Sico	3,679.00	4,642.83	26.2 %
Goldman Sachs	3,650.00	4,642.83	27.2 %
Riyad Capital	3,615.00	4,642.83	28.4 %
OSOOL AND BAKHEET	3,605.40	4,642.83	28.8 %
UBS Saudi Arabia	3,591.00	4,642.83	29.3 %
AlJazira Capital	3,590.00	4,642.83	29.3 %
SNB Capital	3,588.00	4,642.83	29.4 %
Al Rajhi Capital	3,516.00	4,642.83	32.0 %
United Securities Company	3,337.00	4,642.83	39.1 %
Hermes	3,249.00	4,642.83	42.9 %
Value Capital	3,220.45	4,642.83	44.2 %
U-Capital	2,968.10	4,642.83	56.4 %

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 net profit up to SAR 11.23B in 9M 2024; Q3 at SAR 4.64B

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stc net profit up to SAR 11.23B in 9M 2024; Q3 at SAR 4.64B

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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 2024

Revenue by Business Segment (Latest) 2024 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

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Saudi Telecom Co. (STC)

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