Al-Modawat Specialized Medical Co.’s net profit rose 227% to SAR 10.3 million in the first half of 2025, compared to SAR 3.2 million in the prior-year period.
| Item | H1 2024 | H1 2025 | Change |
|---|---|---|---|
| Revenues | 37.29 | 55.22 | 48.1 % |
| Gross Income | 17.33 | 25.70 | 48.3 % |
| Operating Income | 3.79 | 11.22 | 196.3 % |
| Net Income | 3.16 | 10.35 | 227.4 % |
| Average Shares | 71.25 | 71.25 | - |
| Earnings Per Share before unusual items (Riyal) | 0.04 | 0.15 | 227.4 % |
| EPS (Riyal) | 0.04 | 0.15 | 227.4 % |
| Item | H2 2024 | H1 2025 | Change |
|---|---|---|---|
| Revenues | 38.20 | 55.22 | 44.6 % |
| Gross Income | 13.68 | 25.70 | 87.9 % |
| Operating Income | 3.78 | 11.22 | 197.1 % |
| Net Income | 2.91 | 10.35 | 255.4 % |
| Average Shares | 71.25 | 71.25 | - |
| Earnings Per Share before unusual items (Riyal) | 0.04 | 0.15 | 255.4 % |
| EPS (Riyal) | 0.04 | 0.15 | 255.4 % |
The healthcare services provider noted an increase in the number of patients after the commissioning of the first expansion and improvement in services.
Sequentially, net profit grew 255.4% from SAR 2.91 million in H2 2024.
Shareholders’ equity, no minority interest, rose to SAR 86.98 million as of June 30, 2025, from SAR 78.51 million a year earlier.
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2016 | - | - | - | - | - | - |
| H2 2016 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| H1 2017 | - | - | - | - | - | - |
| H2 2017 | - | - | - | - | - | - |
| 2017 | - | - | - | - | - | - |
| H1 2018 | - | - | - | - | - | - |
| H2 2018 | - | - | - | - | - | - |
| 2018 | - | - | - | - | - | - |
| H1 2019 | - | - | - | - | - | - |
| H2 2019 | - | - | - | - | - | - |
| 2019 | - | - | - | - | - | - |
| H1 2020 | - | - | - | - | - | - |
| H2 2020 | - | - | - | - | - | - |
| 2020 | 52.34 | - | 21.76 | - | 6.97 | - |
| H1 2021 | - | - | - | - | - | - |
| H2 2021 | - | - | - | - | - | - |
| 2021 | 40.84 | (22.0 %) | 14.67 | (32.6 %) | (0.89) | (112.8 %) |
| H1 2022 | 25.30 | - | 11.91 | - | 4.05 | - |
| H2 2022 | 33.26 | - | 16.61 | - | 7.40 | - |
| 2022 | 58.57 | 43.4 % | 28.52 | 94.4 % | 11.44 | 1380.4 % |
| H1 2023 | 37.18 | 46.9 % | 21.40 | 79.8 % | 11.52 | 184.6 % |
| H2 2023 | 37.13 | 11.6 % | 19.23 | 15.8 % | 8.65 | 17.0 % |
| 2023 | 74.31 | 26.9 % | 40.63 | 42.5 % | 20.17 | 76.3 % |
| H1 2024 | 37.29 | 0.3 % | 17.33 | (19.0 %) | 3.79 | (67.1 %) |
| H2 2024 | 38.20 | 2.9 % | 13.68 | (28.8 %) | 3.78 | (56.3 %) |
| 2024 | 75.49 | 1.6 % | 31.01 | (23.7 %) | 7.56 | (62.5 %) |
| H1 2025 | 55.22 | 48.1 % | 25.70 | 48.3 % | 11.22 | 196.3 % |
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| 2015 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| 2017 | - | - | - | - | - | - |
| 2018 | - | - | - | - | - | - |
| 2019 | - | - | - | - | - | - |
| 2020 | 52.34 | - | 21.76 | - | 6.97 | - |
| 2021 | 40.84 | (22.0 %) | 14.67 | (32.6 %) | (0.89) | (112.8 %) |
| 2022 | 58.57 | 43.4 % | 28.52 | 94.4 % | 11.44 | 1380.4 % |
| 2023 | 74.31 | 26.9 % | 40.63 | 42.5 % | 20.17 | 76.3 % |
| 2024 | 75.49 | 1.6 % | 31.01 | (23.7 %) | 7.56 | (62.5 %) |
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| H1 2016 | - | - | - | - | - | - |
| H2 2016 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| H1 2017 | - | - | - | - | - | - |
| H2 2017 | - | - | - | - | - | - |
| 2017 | - | - | - | - | - | - |
| H1 2018 | - | - | - | - | - | - |
| H2 2018 | - | - | - | - | - | - |
| 2018 | - | - | - | - | - | - |
| H1 2019 | - | - | - | - | - | - |
| H2 2019 | - | - | - | - | - | - |
| 2019 | - | - | - | - | - | - |
| H1 2020 | - | - | - | - | - | - |
| H2 2020 | - | - | - | - | - | - |
| 2020 | 6.87 | - | 0.12 | - | 6.87 | 0.12 |
| H1 2021 | - | - | - | - | - | - |
| H2 2021 | - | - | - | - | - | - |
| 2021 | (2.21) | (132.1 %) | (0.04) | - | (2.21) | (0.04) |
| H1 2022 | 3.64 | - | 0.06 | - | 3.64 | 0.06 |
| H2 2022 | 6.67 | - | 0.12 | - | 6.67 | 0.12 |
| 2022 | 10.31 | 567.4 % | 0.18 | - | 10.31 | 0.18 |
| H1 2023 | 10.93 | 200.4 % | 0.19 | - | 10.93 | 0.19 |
| H2 2023 | 7.66 | 14.8 % | 0.13 | - | 7.66 | 0.13 |
| 2023 | 18.59 | 80.3 % | 0.33 | - | 18.59 | 0.33 |
| H1 2024 | 3.16 | (71.1 %) | 0.04 | - | 3.16 | 0.04 |
| H2 2024 | 2.91 | (62.0 %) | 0.04 | - | 2.91 | 0.04 |
| 2024 | 6.07 | (67.3 %) | 0.09 | - | 6.07 | 0.09 |
| H1 2025 | 10.35 | 227.4 % | 0.15 | - | 10.35 | 0.15 |
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| 2015 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| 2017 | - | - | - | - | - | - |
| 2018 | - | - | - | - | - | - |
| 2019 | - | - | - | - | - | - |
| 2020 | 6.87 | - | 0.12 | - | 6.87 | 0.12 |
| 2021 | (2.21) | (132.1 %) | (0.04) | - | (2.21) | (0.04) |
| 2022 | 10.31 | 567.4 % | 0.18 | - | 10.31 | 0.18 |
| 2023 | 18.59 | 80.3 % | 0.33 | - | 18.59 | 0.33 |
| 2024 | 6.07 | (67.3 %) | 0.09 | - | 6.07 | 0.09 |
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2016 | - | - | - |
| H2 2016 | - | - | - |
| 2016 | - | - | - |
| H1 2017 | - | - | - |
| H2 2017 | - | - | - |
| 2017 | - | - | - |
| H1 2018 | - | - | - |
| H2 2018 | - | - | - |
| 2018 | - | - | - |
| H1 2019 | - | - | - |
| H2 2019 | - | - | - |
| 2019 | - | - | - |
| H1 2020 | - | - | - |
| H2 2020 | - | - | - |
| 2020 | 41.57 % | - | 13.12 % |
| H1 2021 | - | - | - |
| H2 2021 | - | - | - |
| 2021 | 35.92 % | 1.28 % | (5.40 %) |
| H1 2022 | - | - | - |
| H2 2022 | 48.69 % | 22.19 % | 17.61 % |
| 2022 | 48.69 % | 22.19 % | 17.61 % |
| H1 2023 | 53.96 % | 30.58 % | 25.00 % |
| H2 2023 | 54.67 % | 32.07 % | 25.02 % |
| 2023 | 54.68 % | 32.07 % | 25.02 % |
| H1 2024 | 49.12 % | 22.40 % | 14.54 % |
| H2 2024 | 41.08 % | 17.77 % | 8.05 % |
| 2024 | 41.08 % | 17.77 % | 8.05 % |
| H1 2025 | 42.15 % | 24.09 % | 14.20 % |
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 2015 | - | - | - |
| 2016 | - | - | - |
| 2017 | - | - | - |
| 2018 | - | - | - |
| 2019 | - | - | - |
| 2020 | 41.57 % | - | 13.12 % |
| 2021 | 35.92 % | 1.28 % | (5.40 %) |
| 2022 | 48.69 % | 22.19 % | 17.61 % |
| 2023 | 54.68 % | 32.07 % | 25.02 % |
| 2024 | 41.08 % | 17.77 % | 8.05 % |
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2016 | - | - | - |
| H2 2016 | - | - | - |
| H1 2017 | - | - | - |
| H2 2017 | - | - | - |
| H1 2018 | - | - | - |
| H2 2018 | - | - | - |
| H1 2019 | - | - | - |
| H2 2019 | - | - | - |
| H1 2020 | - | - | - |
| H2 2020 | - | - | - |
| H1 2021 | - | - | - |
| H2 2021 | - | - | - |
| H1 2022 | 47.05 % | 19.00 % | 14.38 % |
| H2 2022 | 49.94 % | 24.62 % | 20.07 % |
| H1 2023 | 57.57 % | 35.91 % | 29.41 % |
| H2 2023 | 51.78 % | 28.22 % | 20.63 % |
| H1 2024 | 46.47 % | 16.60 % | 8.48 % |
| H2 2024 | 35.81 % | 18.92 % | 7.62 % |
| H1 2025 | 46.54 % | 27.67 % | 18.74 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2016 | - | - | - | - |
| H2 2016 | - | - | - | - |
| H1 2017 | - | - | - | - |
| H2 2017 | - | - | - | - |
| H1 2018 | - | - | - | - |
| H2 2018 | - | - | - | - |
| H1 2019 | - | - | - | - |
| H2 2019 | - | - | - | - |
| H1 2020 | - | - | - | - |
| H2 2020 | - | - | - | - |
| H1 2021 | - | - | - | - |
| H2 2021 | - | - | - | - |
| H1 2022 | 57.00 | - | - | 0.40 |
| H2 2022 | 57.00 | 0.18 | 0.18 | 0.54 |
| H1 2023 | 57.00 | 0.31 | 0.31 | 0.65 |
| H2 2023 | 57.00 | 0.33 | 0.33 | 0.69 |
| H1 2024 | 71.25 | 0.15 | 0.15 | 1.10 |
| H2 2024 | 71.25 | 0.09 | 0.09 | 1.08 |
| H1 2025 | 71.25 | 0.19 | 0.19 | 1.22 |
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 2015 | - | - | - | - |
| 2016 | - | - | - | - |
| 2017 | - | - | - | - |
| 2018 | - | - | - | - |
| 2019 | - | - | - | - |
| 2020 | 57.00 | 0.12 | 0.12 | 0.36 |
| 2021 | 57.00 | (0.04) | (0.04) | 0.34 |
| 2022 | 57.00 | 0.18 | 0.18 | 0.54 |
| 2023 | 57.00 | 0.33 | 0.33 | 0.69 |
| 2024 | 71.25 | 0.09 | 0.09 | 1.08 |
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| H1 2016 | - | - | - |
| H2 2016 | - | - | - |
| H1 2017 | - | - | - |
| H2 2017 | - | - | - |
| H1 2018 | - | - | - |
| H2 2018 | - | - | - |
| H1 2019 | - | - | - |
| H2 2019 | - | - | - |
| H1 2020 | - | - | - |
| H2 2020 | - | - | - |
| H1 2021 | - | - | - |
| H2 2021 | - | - | - |
| H1 2022 | - | - | - |
| H2 2022 | - | - | - |
| H1 2023 | - | - | - |
| H2 2023 | - | - | - |
| H1 2024 | 33.35 | 33.35 | 4.60 |
| H2 2024 | 66.47 | 66.47 | 5.23 |
| H1 2025 | 36.53 | 36.53 | 5.57 |
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| 2015 | - | - | - |
| 2016 | - | - | - |
| 2017 | - | - | - |
| 2018 | - | - | - |
| 2019 | - | - | - |
| 2020 | - | - | - |
| 2021 | - | - | - |
| 2022 | - | - | - |
| 2023 | - | - | - |
| 2024 | 66.47 | 66.47 | 5.23 |
Q2 2025
2025
| Period | Medical Services | Pharmaceutical Products | Other |
|---|---|---|---|
| H1 2022 | 23.69 | 1.61 | - |
| H2 2022 | 31.82 | 1.44 | - |
| H1 2023 | 35.50 | 1.67 | - |
| H2 2023 | 35.40 | 1.73 | - |
| H1 2024 | 35.27 | 2.01 | - |
| H2 2024 | 34.88 | 2.55 | 0.78 |
| H1 2025 | 50.55 | 2.83 | 1.83 |
| Period | Medical Services | Pharmaceutical Products | Other |
|---|---|---|---|
| 2021 | 38.75 | 2.08 | - |
| 2022 | 55.52 | 3.05 | - |
| 2023 | 70.91 | 3.40 | - |
| 2024 | 70.15 | 4.56 | 0.78 |
| Current | |
| Market Cap (M Riyal) | 290.70 |
| Enterprise Value (EV) (M Riyal) | 305.18 |
| Shares Outstanding ((M)) | 71.25 |
| Book Value (BV) ( Riyal) | 1.24 |
| Par Value ( Riyal) | 1.00 |
| Recurring P/E | 15.32 |
| Price/book | 3.29 |
| EV/adj EBITDA | 10.08 |
| EV/Revenues | 2.51 |
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