R 
17.88
+1.42%
Close of 9 Nov 2026, in SAR
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At a glance
Figures in SAR, from our data supplier.
Revenue
SAR 3.37bn
FY2016FY2025
Net income
−SAR 55.0m
FY2016FY2025
Free cash flow
SAR 21.3m
FY2016FY2025
Shareholders' equity
SAR 430.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SAR 3.37bn | SAR 2.98bn | SAR 1.38bn | SAR 404.2m | SAR 468.2m | SAR 533.5m | SAR 641.1m | SAR 695.7m | SAR 773.1m | SAR 1.03bn |
| Gross profit | SAR 297.0m | SAR 347.0m | SAR 109.6m | −SAR 56.6m | −SAR 28.2m | −SAR 28.3m | SAR 51.7m | SAR 61.2m | SAR 75.2m | SAR 260.6m |
| Operating income | SAR 25.3m | SAR 70.1m | SAR 6.4m | −SAR 181.6m | −SAR 109.9m | −SAR 140.2m | −SAR 51.6m | −SAR 66.6m | −SAR 46.3m | SAR 116.4m |
| Net income | −SAR 55.0m | −SAR 62.4m | −SAR 35.1m | −SAR 196.1m | −SAR 130.4m | −SAR 158.5m | −SAR 62.4m | −SAR 85.7m | −SAR 65.3m | SAR 88.0m |
| Diluted earnings per share | -1.66 | -2.06 | -1.16 | -6.49 | -4.31 | -5.25 | -2.06 | -2.84 | -2.16 | 2.91 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SAR 3.05bn | SAR 2.89bn | SAR 2.48bn | SAR 778.7m | SAR 952.0m | SAR 1.04bn | SAR 1.18bn | SAR 1.16bn | SAR 1.30bn | SAR 1.55bn |
| Cash and short-term investments | — | SAR 26.2m | SAR 157.6m | SAR 32.3m | SAR 5.8m | SAR 31.6m | SAR 107.1m | SAR 86.7m | SAR 85.1m | SAR 64.6m |
| Total liabilities | SAR 2.11bn | SAR 2.39bn | SAR 2.15bn | SAR 685.1m | SAR 665.4m | SAR 620.3m | SAR 563.6m | SAR 464.3m | SAR 493.8m | SAR 550.3m |
| Debt | SAR 166.4m | SAR 379.0m | SAR 379.7m | SAR 168.9m | SAR 189.1m | SAR 198.8m | SAR 268.8m | SAR 224.7m | SAR 254.3m | SAR 291.3m |
| Shareholders' equity | SAR 430.0m | SAR 7.3m | SAR 83.7m | SAR 118.1m | SAR 309.4m | SAR 441.7m | SAR 630.8m | SAR 711.3m | SAR 817.3m | SAR 1.01bn |
| Shares outstanding | 33m | 30m | 30m | 30m | 30m | 30m | 30m | 30m | 30m | 30m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SAR 50.4m | −SAR 36.3m | SAR 20.4m | SAR 12.9m | −SAR 10.5m | SAR 56.0m | SAR 84.2m | SAR 52.5m | SAR 131.6m | SAR 254.2m |
| Capital spending | −SAR 29.1m | −SAR 45.9m | −SAR 10.4m | −SAR 1.5m | −SAR 4.0m | −SAR 5.0m | −SAR 7.1m | −SAR 11.3m | −SAR 32.5m | −SAR 106.8m |
| Free cash flow | SAR 21.3m | −SAR 82.1m | SAR 10.0m | SAR 11.4m | −SAR 14.5m | SAR 51.0m | SAR 77.1m | SAR 41.2m | SAR 99.1m | SAR 147.4m |
| Dividends paid | — | — | — | — | — | — | — | — | −SAR 45.0m | −SAR 45.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SAR 608.0m | SAR 631.2m | SAR 909.1m | SAR 986.0m | SAR 779.2m | SAR 700.7m | SAR 867.6m | SAR 705.7m |
| Gross profit | SAR 100.7m | SAR 118.9m | SAR 49.9m | SAR 64.1m | SAR 90.5m | SAR 92.5m | SAR 100.9m | SAR 74.5m |
| Operating income | −SAR 14.2m | SAR 13.4m | SAR 25.5m | SAR 25.0m | SAR 23.7m | SAR 19.3m | SAR 21.1m | SAR 16.4m |
| Net income | −SAR 16.9m | SAR 2.5m | −SAR 71.4m | −SAR 1.7m | −SAR 1.3m | −SAR 11.2m | −SAR 2.2m | −SAR 23.3m |
| Diluted earnings per share | -0.35 | 0.05 | -2.15 | -0.05 | -0.04 | -0.34 | -0.07 | -0.77 |
| Cash from operations | SAR 17.0m | −SAR 181.0m | SAR 41.0m | SAR 95.0m | −SAR 122.0m | SAR 36.0m | −SAR 96.0m | SAR 130.0m |
| Capital spending | −SAR 2.0m | −SAR 1.0m | — | −SAR 1.0m | −SAR 45.0m | −SAR 12.0m | −SAR 17.0m | −SAR 8.0m |
| Free cash flow | SAR 15.0m | −SAR 182.0m | — | SAR 94.0m | −SAR 167.0m | SAR 24.0m | −SAR 113.0m | SAR 122.0m |
| Total assets | SAR 3.16bn | SAR 3.07bn | SAR 3.05bn | SAR 3.42bn | SAR 3.35bn | SAR 2.97bn | SAR 2.89bn | SAR 2.84bn |
| Cash and short-term investments | — | — | — | SAR 160.3m | SAR 35.2m | SAR 49.6m | SAR 26.2m | SAR 214.1m |
| Debt | SAR 181.4m | SAR 165.3m | SAR 166.4m | SAR 553.4m | SAR 514.2m | SAR 350.4m | SAR 350.9m | SAR 396.0m |
| Shareholders' equity | SAR 418.1m | SAR 435.0m | SAR 430.0m | −SAR 6.6m | −SAR 4.9m | −SAR 4.0m | SAR 7.3m | SAR 25.7m |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 8.8% | 11.6% | 8.0% | -14.0% | -6.0% | -5.3% |
| Operating margin | 0.5% | -3.8% | 2.6% | -44.9% | -23.1% | -26.2% |
| Net margin | -1.6% | -2.1% | -2.5% | -48.5% | -27.9% | -29.7% |
| Return on equity | -12.8% | -857.7% | -42.0% | -166.1% | -42.2% | -35.9% |
| Return on assets | -1.8% | -2.2% | -1.4% | -25.2% | -13.7% | -15.2% |
| Free cash flow yield | 13.8% | 1.8% | 5.8% | 2.7% | -1.2% | 11.6% |
| Revenue growth | 13.1% | 116.5% | 241.0% | -13.7% | -12.2% | -16.8% |
| Earnings growth | -11.8% | 77.5% | -82.1% | 50.4% | -17.7% | 154.0% |
| Current ratio | 1.10x | 0.88x | 0.76x | 0.67x | 0.83x | 1.02x |
| Debt to equity | 0.39x | 48.26x | 4.20x | 1.15x | 0.50x | 0.35x |
| Equity ratio | 14.1% | 0.3% | 3.4% | 15.2% | 32.5% | 42.4% |
| Interest coverage | 0.50x | -3.97x | 3.09x | -37.70x | -10.94x | -12.36x |
| Buybacks as a share of market value | -9.7% | -0.0% | 0.0% | -0.0% | -0.2% | 0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 102.9% | 44.6% | 12.6% |
| Operating income | — | — | -12.5% |
| Net income | -34.5% | -19.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.1% | 8.6% | 7.0% | 10.1% |
| Operating margin | 1.5% | -1.0% | -3.6% | -2.1% |
| Net margin | -1.8% | -4.3% | -7.0% | -5.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -20.0 | -29.8 | -20.4 | -3.5 | -9.7 | -8.4 | -13.5 | -11.1 | -17.6 | 20.1 |
| Price to sales | 0.3 | 0.6 | 0.5 | 1.7 | 2.7 | 2.5 | 1.3 | 1.4 | 1.5 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 May 2017.
| FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.488 | 1.488 | 1.985 | 1.654 | 1.985 | 1.323 | 0.992 | 1.985 |
- 100-to-50.39 reverse split · 25 Jul 2022
- 3-for-2 split · 27 Apr 2014
- 4-for-3 split · 21 Apr 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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