MARAFIQ earns SAR 235M in 9M 2026; Q3 at SAR 154M

03/11/2026 Argaam Exclusive

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The Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) reported a net profit of SAR 235 million in 9M 2026, down 41% compared with SAR 398 million in the year-earlier period.
 


Financials (Million Riyal)

Item 9m 2025 9m 2026 Change‬
Revenues 5,108.71 5,486.00 7.4 %
Gross Income 532.59 884.00 66.0 %
Operating Income 1,002.00 788.00 (21.4 %)
Net Income 398.21 235.00 (41.0 %)
Average Shares 250.00 250.00 -
Earnings Per Share before unusual items (Riyals) (0.39) 0.94 339.0 %
EPS (Riyal) 1.59 0.94 (41.0 %)

The profit decline was attributed by the company to higher fuel costs used in production processes by SAR 200 million in 9M 2026, along with a decrease in other operating income by SAR 45 million, and a decline in the company’s share of income from associates by SAR 25 million.

 

The decline was partially offset by a decrease in financing costs by SAR 76 million, and a fall in power purchase costs by SAR 36 million in 9M 2026.

 

MARAFIQ’s Q3 2026 net earnings dropped 9.8% to SAR 154 million, from SAR 170.1 million in Q3 2025.

 

On a quarterly basis, the three-month bottom line soared 431.6% from SAR 46.45 million loss in Q2 2026.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q3 2025 Q3 2026 Change‬
Revenues 2,002.11 1,957.00 (2.3 %)
Gross Income 365.71 342.00 (6.5 %)
Operating Income 363.00 331.00 (8.8 %)
Net Income 170.67 154.00 (9.8 %)
Average Shares 250.00 250.00 -
Earnings Per Share before unusual items (Riyal) 0.68 0.62 (9.8 %)
EPS (Riyal) 0.68 0.62 (9.8 %)

Total shareholders’ equity, no minority interest, stood at SAR 5.43 billion as of Sept. 30, 2026, compared to SAR 5.56 billion in the prior-year period.

 

Attached Documents:

 

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Share Price

The Power and Water Utility Company for Jubail and Yanbu
42.24
1.14 2.77 %

The Power and Water Utility Company for Jubail and Yanbu (MARAFIQ)

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Financial Ratios
Current
Market Cap (M Riyal) 10,560.00
Enterprise Value (EV) (M Riyal) 14,651.71
Shares Outstanding ((M)) 250.00
Recurring EPS ( Riyal) (TTM) 0.96
Book Value (BV) ( Riyal) 21.71
Par Value ( Riyal) 10.00
Recurring P/E (TTM) 44.14
P/E (TTM) 36.88
Price/book 1.95
Dividend Yield (%) (Last Year) 4.26
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 5.2
EV/Revenues 2.00
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