Analyst forecasts on Qassim Cement Q4 2025 earnings
In this report, Argaam highlights the expected results of Qassim Cement Co. (QCC) in Q4 2025, in addition to the company’s key events, quarterly revenue and profit development, as well as performance and profitability indicators.
The cement producer’s revenue is expected to decline 2.54% year-on-year (YoY) to SAR 295.3 million in Q4 2025.
Quarter Revenue Changes (M Riyal)
| Item | Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 (Average Estimate) |
|---|---|---|---|---|---|
| Sales | 302.98 | 302.68 | 293.47 | 246.83 | 295.30 |
| Change % | 100.04% | 54.10% | 44.35% | (6.81%) | (2.54%) |
Quarter Net Income Changes (M Riyal)
| Item | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 81.80 | 88.62 | 61.06 | 41.39 | 53.90 |
| Extraordinary income/expense | 9.53 | 13.64 | 17.93 | 16.94 | - |
| Net Profit Before Unusual Items | 72.27 | 74.97 | 43.13 | 24.45 | - |
| EPS Before Unusual Items (Riyal/Share) | 0.69 | 0.68 | 0.39 | 0.22 | 0.49 |
Key events in Q4 2025
- Qassim Cement’s board of directors declared an 8% cash dividend, or SAR 0.8 a share, for Q3 2025.
- A 10-year Shariah-compliant credit facility agreement worth SAR 1.5 billion was signed with Saudi National Bank (SNB).
According to a report by the General Authority for Statistics (GASTAT), the average price of a 50-kg cement bag edged up 0.7% YoY to SAR 14.3 in Q4 2025.
Quarterly Profit and Revenue (M Riyal)
According to regularly published monthly data on cement company sales, the company’s sales increased by 1.3% YoY in Q4 2025 from 1.22 million tons to 1.23 million tons. Sales also rose 2.4% quarter-on-quarter (QoQ).
Total quarterly sales - thousand tons
| Q4 - 2025 | Q4 - 2024 | Change (%) | Q3 - 2025 | Change (%) | |
|---|---|---|---|---|---|
| Cement Sales | 1,236.00 | 1,220.00 | 1.31 % | 1,207.00 | 2.40 % |
Average estimates
Qassim Cement is expected to log a net profit of SAR 53.9 million in Q4 2025, down 25.4% compared to SAR 72.3 million (before one-off items) in Q4 2024, according to average estimates by five research firms.
Quarterly Actuals vs Estimates (M Riyal)
Average Estimate (M Riyal)
| Analyst | Million Riyals |
|---|---|
| AlJazira Capital Company | 84.00 |
| SNB Capital Company | 60.30 |
| Riyad Capital | 58.00 |
| U-Capital Co. | 47.00 |
| SICO Bank | 20.20 |
| Average | 53.90 |
| Net Profit Before Unusual Items (2024 - Q4) | 72.27 |
| Change % | (25.42%) |
Performance and profitability indicators:
The following table shows the stock performance and P/E ratio, as well as the earnings per share trailing 12 months (TTM) and year to date (YTD):
Stock Performance
| Item | The Company | TASI |
|---|---|---|
| YTD | (0.24 %) | 6.30 % |
| Change(12M) | (21.20 %) | (10.08 %) |
| Previous Close | 42.22 | 11,195.45 |
| Recurring P/E (x) | 21.73 | 20.30 |
| EPS (TTM) before unusual items (SAR/Share) | 1.97 | - |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 17.02 |
| P/E Before Unusual Items (TTM) | 21.61 |
| P/BV | 1.73 |
| Dividend Yield | 5.21 % |
| Market Cap. (M) | 4,643.48 |
| Return on Average Assets | 8.95 % |
| Return on Average Equity | 10.07 % |
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