F 
First Avenue for Real Estate Development Company SJSC 9610.SR · SAR
Real Estate · Tadawul · 🇸🇦 Saudi Arabia
1.76
-2.22%
Close of 9 Nov 2026, in SAR
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At a glance
Figures in SAR, from our data supplier.
Revenue
SAR 326.6m
FY2020FY2025
Net income
SAR 110.9m
FY2020FY2025
Free cash flow
−SAR 258.4m
FY2020FY2025
Shareholders' equity
SAR 529.8m
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | SAR 326.6m | SAR 275.1m | SAR 238.4m | SAR 205.5m | SAR 204.9m | SAR 70.5m |
| Operating income | SAR 64.4m | SAR 53.4m | SAR 35.2m | SAR 46.9m | SAR 48.6m | SAR 16.5m |
| Net income | SAR 110.9m | SAR 59.3m | SAR 42.0m | SAR 42.7m | SAR 50.6m | SAR 16.0m |
| Diluted earnings per share | 0.63 | 0.34 | 0.25 | 0.24 | 0.29 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | SAR 960.1m | SAR 960.1m | SAR 500.7m | SAR 428.4m | SAR 195.3m | SAR 154.9m |
| Cash and short-term investments | — | SAR 97.3m | SAR 14.2m | SAR 6.9m | SAR 13.4m | SAR 4.5m |
| Total liabilities | SAR 430.3m | SAR 430.3m | SAR 172.4m | SAR 146.7m | SAR 73.8m | SAR 132.7m |
| Debt | — | SAR 315.2m | SAR 118.6m | SAR 95.2m | SAR 49.7m | SAR 25.5m |
| Shareholders' equity | SAR 529.8m | SAR 529.8m | SAR 328.2m | SAR 281.7m | SAR 121.5m | SAR 22.1m |
| Shares outstanding | 175m | 177m | 171m | 175m | 175m | 175m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −SAR 258.4m | SAR 43.7m | SAR 97.0m | −SAR 34.3m | SAR 219,586 | SAR 7.5m |
| Capital spending | — | −SAR 50,335 | −SAR 48,243 | −SAR 51,387 | −SAR 176,366 | −SAR 29,277 |
| Free cash flow | −SAR 258.4m | SAR 43.7m | SAR 96.9m | −SAR 34.4m | SAR 43,220 | SAR 7.5m |
| Dividends paid | — | −SAR 20.3m | −SAR 10.2m | — | −SAR 54.0m | — |
Latest quarters
By quarter end
| Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|
| Revenue | SAR 59.6m | SAR 115.9m | SAR 77.7m | SAR 77.7m | SAR 62.5m | SAR 37.0m | SAR 36.9m |
| Operating income | SAR 1.3m | SAR 70.0m | SAR 17.0m | SAR 13.4m | SAR 26.6m | SAR 4.5m | SAR 4.3m |
| Net income | SAR 140,335 | SAR 78.0m | SAR 28.3m | SAR 14.1m | SAR 31.0m | SAR 4.5m | SAR 8.2m |
| Diluted earnings per share | 0.00 | 0.45 | 0.16 | 0.08 | 0.18 | 0.03 | 0.05 |
| Cash from operations | −SAR 52.0m | SAR 38.0m | SAR 26.0m | SAR 12.0m | SAR 46.0m | −SAR 29.0m | SAR 9.0m |
| Total assets | SAR 1.20bn | SAR 987.1m | SAR 960.1m | SAR 960.1m | SAR 756.2m | — | SAR 500.7m |
| Cash and short-term investments | SAR 239.3m | SAR 132.0m | SAR 97.3m | SAR 97.3m | SAR 21.3m | SAR 14.2m | SAR 14.2m |
| Debt | SAR 455.9m | SAR 293.1m | SAR 111.7m | SAR 143.6m | SAR 73.5m | — | SAR 45.2m |
| Shareholders' equity | SAR 607.9m | SAR 607.8m | SAR 529.8m | SAR 529.8m | SAR 430.2m | SAR 328.2m | SAR 328.2m |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 40.7% | 20.0% | 14.8% | 22.8% | 23.7% | 23.4% |
| Net margin | 34.0% | 21.6% | 17.6% | 20.8% | 24.7% | 22.8% |
| Return on equity | 20.9% | 11.2% | 12.8% | 15.2% | 41.7% | 72.5% |
| Return on assets | 11.6% | 6.2% | 8.4% | 10.0% | 25.9% | 10.4% |
| Free cash flow yield | -80.3% | 13.5% | 30.8% | — | — | — |
| Revenue growth | 18.7% | 15.4% | 16.0% | 0.3% | 190.7% | — |
| Earnings growth | 87.0% | 41.3% | -1.8% | -15.6% | 215.5% | — |
| Current ratio | 2.29x | 2.29x | 1.87x | 2.31x | 5.52x | 4.48x |
| Debt to equity | — | 0.21x | 0.14x | 0.18x | 0.01x | 1.15x |
| Equity ratio | 55.2% | 55.2% | 65.6% | 65.8% | 62.2% | 14.3% |
| Interest coverage | 17.64x | 5.16x | 191.28x | — | — | 789.03x |
| Buybacks as a share of market value | 1.0% | -3.2% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.7% | 35.9% | — |
| Operating income | 11.2% | 31.3% | — |
| Net income | 37.5% | 47.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 19.6% | 19.1% | 20.1% | — |
| Net margin | 28.3% | 24.4% | 24.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | 9.5 | 26.1 |
| Price to sales | 3.2 | 5.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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