Financial Results : Theeb profit down 1% to SAR 180.3M in 2025; Q4 at SAR 36.9M

Theeb profit down 1% to SAR 180.3M in 2025; Q4 at SAR 36.9M

30/03/2026 Argaam Exclusive

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Theeb Rent a Car Co.’s net profit edged down to SAR 180.3 million in 2025, compared with SAR 182.7 million a year earlier.



Financials (M)

Item 2024 2025 Change‬
Revenues 1,302.67 1,497.07 14.9 %
Gross Income 417.76 469.93 12.5 %
Operating Income 265.04 280.57 5.9 %
Net Income 182.71 180.26 (1.3 %)
Average Shares 64.50 64.50 -
Earnings Per Share before unusual items (Riyals) 2.83 2.79 (1.3 %)
EPS (Riyal) 2.83 2.79 (1.3 %)

The profit decline was mainly due to a slight drop in fleet utilization rates, along with higher expected credit loss provisions, in line with changes in overall market credit risk levels.

 

This was partially offset by a 14.9% year-on-year (YoY) increase in revenue, driven by an 18.5% rise in short- and long-term rental revenues on the back of a higher number of rented vehicles. Revenue from the used-car segment also grew by 3.7% in 2025, supported by increased vehicle sales.

 

Net income declined 28% to SAR 36.93 million in Q4 2025, from SAR 51.16 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 336.92 391.90 16.3 %
Gross Income 106.52 118.34 11.1 %
Operating Income 62.60 56.30 (10.1 %)
Net Income 51.16 36.93 (27.8 %)
Average Shares 64.50 64.50 -
Earnings Per Share before unusual items (Riyal) 0.79 0.57 (27.8 %)
EPS (Riyal) 0.79 0.57 (27.8 %)

Sequentially, net profit also fell 26.4% from SAR 50.17 million in Q3 2025.

 

Total shareholders' equity (no minority interest) rose to SAR 914.65 million by the end of December 2025, compared to SAR 830.43 million a year earlier.

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