Etihad Etisalat Company SJSC 7020.SR · SAR
Communication Services · Wireless Telecommunication Services · Tadawul · 🇸🇦 Saudi Arabia
57.70
-2.29%
Close of 8 Nov 2026, in SAR
At a glance
Figures in SAR, from our data supplier.
Revenue
SAR 19.64bn
FY2016FY2025
Net income
SAR 3.47bn
FY2016FY2025
Free cash flow
SAR 3.91bn
FY2016FY2025
Shareholders' equity
SAR 20.33bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SAR 19.64bn | SAR 18.21bn | SAR 16.76bn | SAR 15.67bn | SAR 14.83bn | SAR 14.05bn | SAR 13.45bn | SAR 11.86bn | SAR 11.35bn | SAR 12.57bn |
| Gross profit | SAR 10.74bn | SAR 9.89bn | SAR 9.45bn | SAR 9.36bn | SAR 8.67bn | SAR 8.15bn | SAR 7.80bn | SAR 6.58bn | SAR 6.53bn | SAR 7.43bn |
| Operating income | SAR 3.85bn | SAR 3.53bn | SAR 2.98bn | SAR 2.31bn | SAR 1.67bn | SAR 1.91bn | SAR 967.0m | SAR 602.9m | SAR 19.3m | SAR 234.7m |
| Net income | SAR 3.47bn | SAR 3.11bn | SAR 2.23bn | SAR 1.66bn | SAR 1.07bn | SAR 783.3m | SAR 31.2m | −SAR 122.7m | −SAR 708.9m | −SAR 203.0m |
| Diluted earnings per share | 4.53 | 4.03 | 2.90 | 2.15 | 1.39 | 1.02 | 0.04 | -0.16 | -0.92 | -0.26 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SAR 42.46bn | SAR 38.52bn | SAR 38.82bn | SAR 39.77bn | SAR 39.36bn | SAR 38.42bn | SAR 39.26bn | SAR 38.56bn | SAR 40.47bn | SAR 41.19bn |
| Cash and short-term investments | SAR 3.97bn | SAR 1.52bn | SAR 3.78bn | SAR 827.7m | SAR 2.05bn | SAR 1.23bn | SAR 2.09bn | SAR 2.03bn | SAR 2.19bn | SAR 1.22bn |
| Total liabilities | SAR 22.13bn | SAR 19.64bn | SAR 21.19bn | SAR 23.41bn | SAR 24.17bn | SAR 23.97bn | SAR 25.51bn | SAR 24.70bn | SAR 26.21bn | SAR 25.83bn |
| Debt | SAR 6.88bn | SAR 9.46bn | SAR 11.53bn | SAR 12.84bn | SAR 13.95bn | SAR 14.09bn | SAR 14.89bn | SAR 13.02bn | SAR 14.88bn | SAR 15.21bn |
| Shareholders' equity | SAR 20.33bn | SAR 18.88bn | SAR 17.62bn | SAR 16.36bn | SAR 15.20bn | SAR 14.45bn | SAR 13.75bn | SAR 13.87bn | SAR 14.25bn | SAR 15.36bn |
| Shares outstanding | 766m | 770m | 770m | 770m | 770m | 770m | 770m | 773m | 770m | 770m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SAR 6.92bn | SAR 6.34bn | SAR 5.77bn | SAR 5.68bn | SAR 4.81bn | SAR 4.17bn | SAR 3.51bn | SAR 3.49bn | SAR 3.59bn | SAR 4.02bn |
| Capital spending | −SAR 3.01bn | −SAR 2.67bn | −SAR 1.92bn | −SAR 2.43bn | −SAR 2.22bn | −SAR 3.45bn | −SAR 2.10bn | −SAR 1.79bn | −SAR 2.34bn | −SAR 5.60bn |
| Free cash flow | SAR 3.91bn | SAR 3.67bn | SAR 3.85bn | SAR 3.25bn | SAR 2.59bn | SAR 723.7m | SAR 1.40bn | SAR 1.70bn | SAR 1.25bn | −SAR 1.59bn |
| Dividends paid | −SAR 1.88bn | −SAR 1.76bn | −SAR 852.3m | −SAR 640.2m | −SAR 377.5m | −SAR 377.5m | −SAR 377.5m | −SAR 377.5m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SAR 5.08bn | SAR 5.04bn | SAR 5.19bn | SAR 4.85bn | SAR 4.83bn | SAR 4.78bn | SAR 4.70bn | SAR 4.50bn |
| Gross profit | SAR 2.84bn | SAR 2.82bn | SAR 1.88bn | SAR 1.76bn | SAR 2.62bn | SAR 2.55bn | SAR 2.51bn | SAR 2.57bn |
| Operating income | SAR 982.1m | SAR 992.2m | SAR 1.07bn | SAR 1.04bn | SAR 891.3m | SAR 850.0m | SAR 1.11bn | SAR 960.0m |
| Net income | SAR 901.1m | SAR 879.7m | SAR 953.0m | SAR 916.4m | SAR 829.9m | SAR 767.0m | SAR 979.4m | SAR 828.5m |
| Diluted earnings per share | 1.17 | 1.15 | 1.24 | 1.20 | 1.08 | 1.00 | 1.27 | 1.08 |
| Cash from operations | SAR 1.35bn | SAR 1.57bn | SAR 2.14bn | SAR 1.29bn | SAR 1.87bn | SAR 1.49bn | SAR 2.22bn | SAR 1.62bn |
| Capital spending | −SAR 973.0m | −SAR 936.0m | −SAR 1.06bn | −SAR 183.0m | −SAR 1.26bn | −SAR 506.0m | −SAR 1.01bn | −SAR 494.0m |
| Free cash flow | SAR 377.0m | SAR 637.0m | SAR 1.08bn | SAR 1.11bn | SAR 614.0m | SAR 988.0m | SAR 1.22bn | SAR 1.13bn |
| Total assets | SAR 42.26bn | SAR 42.22bn | SAR 42.46bn | SAR 39.99bn | SAR 39.96bn | SAR 40.92bn | SAR 38.52bn | SAR 37.83bn |
| Cash and short-term investments | — | — | SAR 3.97bn | SAR 3.04bn | SAR 2.88bn | SAR 3.92bn | SAR 1.52bn | SAR 2.45bn |
| Debt | SAR 4.79bn | SAR 4.97bn | SAR 6.88bn | SAR 1.80bn | SAR 7.24bn | SAR 7.33bn | SAR 7.40bn | SAR 7.56bn |
| Shareholders' equity | SAR 20.87bn | SAR 19.96bn | SAR 20.33bn | SAR 19.29bn | SAR 19.45bn | SAR 18.64bn | SAR 18.88bn | SAR 17.89bn |
Financial ratios
Data as of 17 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 54.7% | 54.3% | 56.4% | 59.8% | 58.5% | 58.0% |
| Operating margin | 19.6% | 19.4% | 17.8% | 14.7% | 11.2% | 13.6% |
| Net margin | 17.6% | 17.1% | 13.3% | 10.6% | 7.2% | 5.6% |
| Return on equity | 17.1% | 16.5% | 12.7% | 10.1% | 7.1% | 5.4% |
| Return on assets | 8.2% | 8.1% | 5.7% | 4.2% | 2.7% | 2.0% |
| Free cash flow yield | 20.1% | 18.2% | 15.5% | 16.4% | 14.2% | 15.4% |
| Revenue growth | 7.9% | 8.6% | 7.0% | 5.6% | 5.6% | 4.4% |
| Earnings growth | 11.6% | 39.2% | 34.7% | 54.6% | 36.8% | 2411.8% |
| Current ratio | 0.87x | 0.91x | 0.85x | 0.83x | 0.73x | 0.59x |
| Debt to equity | 0.34x | 0.39x | 0.54x | 0.65x | 0.77x | 0.85x |
| Equity ratio | 47.9% | 49.0% | 45.4% | 41.1% | 38.6% | 37.6% |
| Interest coverage | 5.70x | 5.74x | 4.48x | 3.81x | 3.30x | 3.40x |
| Buybacks as a share of market value | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.8% | 6.9% | 3.1% |
| Operating income | 18.5% | 15.1% | — |
| Net income | 27.9% | 34.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 54.5% | 56.1% | 56.8% | 56.9% |
| Operating margin | 19.5% | 18.0% | 16.4% | 10.7% |
| Net margin | 17.4% | 14.9% | 12.4% | 6.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.6 | 13.2 | 16.9 | 16.1 | 22.4 | 28.2 | — | -104.5 | -16.1 | -91.0 |
| Price to sales | 2.6 | 2.3 | 2.3 | 1.7 | 1.6 | 1.6 | 1.4 | 1.1 | 1.0 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 2 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.00 | 2.50 | 2.35 | 1.15 | 0.85 | 0.50 | 3.75 | 4.70 |
- 11-for-10 split · 13 Jan 2013
- 5-for-1 split · 8 Apr 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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