NCLE profit up 21% to SAR 120.8M in 9M 2024/25; Q3 at SAR 42.6M

25/05/2025 Argaam Exclusive

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National Company for Learning and Education (NCLE) reported a net profit of SAR 120.8 million for the nine months ended April 30, 2025, up 21% from SAR 99.9 million between September 2023 and May 2024.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 423.58 492.55 16.3 %
Gross Income 185.24 218.93 18.2 %
Operating Income 117.24 141.70 20.9 %
Net Income 99.85 120.85 21.0 %
Average Shares 43.00 43.00 -
Earnings Per Share before unusual items (Riyals) 2.32 2.81 21.0 %
EPS (Riyals) 2.32 2.81 21.0 %

NCLE previously amended its fiscal year (FY) to end on July 31 instead of Aug. 31. Accordingly, the first nine months of this FY ended on April 2025, rather than on May 31 in the year before.

 

The annual profit growth was attributed to a 16% year-on-year (YoY) rise in revenues for the nine-month period, driven by a 13% YoY increase in student enrollment at the company’s affiliated schools to 31,900 students, from 28,200 a year ago.

 

Additionally, four new educational complexes affiliated with the company were opened in Riyadh at the onset of the 2024/25 academic year.

 

Further, NCLE reversed a portion of the expected credit loss provision during 9M 2024/25, thanks to improved receivables collection rates.

 

In Q3 2024/25, NCLE reported a 22.5% profit hike to SAR 42.6 million, compared to SAR 34.8 million in the prior-year period.

 

On a quarterly basis, the company’s three-month net earnings grew by 6.3% from SAR 40.11 million in Q2 2024/25.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 141.85 164.82 16.2 %
Gross Income 62.88 74.89 19.1 %
Operating Income 40.78 50.86 24.7 %
Net Income 34.80 42.62 22.5 %
Average Shares 43.00 43.00 -
Earnings Per Share before unusual items (Riyals) 0.81 0.99 22.5 %
EPS (Riyals) 0.81 0.99 22.5 %

Shareholders’ equity, no minority interest, amounted to SAR 822.79 million in 9M 2024/25, soaring from SAR 735.25 million in the prior-year period.

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Share Price

National Company for Learning and Education
156.20
0.20 0.13 %

National Company for Learning and Education (NCLE)

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Financial Ratios
Current
Market Cap (M Riyal) 6,716.60
Enterprise Value (EV) (M) 6,742.78
Shares Outstanding ((M)) 43.00
EPS ( Riyal) (TTM) 4.16
Book Value (BV) ( Riyal) 19.13
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 37.56
P/E (TTM) 37.56
Price/book 8.16
Return on Average Assets (%) (TTM) 13.3
Return on Average Equity (%) (TTM) 23.0
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