SRMG loses SAR 34.85M in 9M 2026, SAR 69.62M in Q3

09/11/2026 Argaam Exclusive

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Saudi Research and Media Group (SRMG) reported net losses of SAR 34.85 million for the first nine months of 2026, up from SAR 9.23 million in the same period of 2025.



Financials (Million Riyal)

Item 9m 2025 9m 2026 Change‬
Revenues 1,997.28 2,189.84 9.6 %
Gross Income 404.13 278.97 (31.0 %)
Operating Income 31.37 (6.34) (120.2 %)
Net Income (9.23) (34.85) (277.4 %)
Average Shares 80.00 80.00 -
Earnings Per Share before unusual items (Riyals) (0.05) (0.83) (1,479.1 %)
EPS (Riyal) (0.12) (0.44) (277.4 %)

For 9M 2026, SRMG attributed the deeper net loss to lower gross profit amid higher depreciation and amortization expenses following the relocation and commencement of operations of Asharq News channels from the King Abdullah Financial District in Saudi Arabia. This was in addition to work on the broadcasting projects for the Custodian of the Two Holy Mosques Cup, the Saudi Pro League, the Saudi Super Cup and the Saudi First Division League.

 

The group also cited higher marketing expenses and financing costs in 9M 2026.

 

However, the nine-month revenue grew by 9.64% YoY. This was driven by higher revenue from the publishing and visual and digital content segment.

 

SRMG also generated other income from certain enablers granted to the group to continue supporting the development of the local media ecosystem in Saudi Arabia. This is in addition to delivering a SAR 31.35 million gain from the conversion of loans into equity in the printing and packaging segment.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q3 2025 Q3 2026 Change‬
Revenues 670.85 654.62 (2.4 %)
Gross Income 98.20 3.35 (96.6 %)
Operating Income (27.15) (45.98) (69.4 %)
Net Income (30.43) (69.62) (128.8 %)
Average Shares 80.00 80.00 -
Earnings Per Share before unusual items (Riyal) (0.32) (0.87) (174.2 %)
EPS (Riyal) (0.38) (0.87) (128.8 %)

SRMG incurred a wider net loss of SAR 69.62 million in Q3 2026, compared with SAR 30.43 million a year earlier, as the third-quarter revenue declined by 2.42% YoY.

 

The group had posted net earnings of SAR 1.7 million in Q2 2026.

 

Total shareholders' equity, after minority interest, stood at SAR 2.67 billion by the end of 9M 2026, down from SAR 3.24 billion a year earlier.

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Share Price

Saudi Research and Media Group
45.90
0.10 0.22 %

Saudi Research and Media Group (SRMG)

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Financial Ratios
Current
Market Cap (M Riyal) 3,672.00
Enterprise Value (EV) (M Riyal) 4,299.31
Shares Outstanding ((M)) 80.00
Recurring EPS ( Riyal) (TTM) (4.36)
Book Value (BV) ( Riyal) 33.49
Par Value ( Riyal) 10.00
Recurring P/E (TTM) Neg
P/E (TTM) NEG
Price/book 1.37
Dividend Yield (%) (Last Year) -
Return on Average Assets (%) (TTM) (5.94 )
Return on Average Equity (%) (TTM) (13.22 )
EV/Revenues 1.53
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