Financial Results : Nice One 9M 2025 profit down 56% to SAR 28.8M; Q3 at SAR 5.9M

Nice One 9M 2025 profit down 56% to SAR 28.8M; Q3 at SAR 5.9M

02/11/2025 Argaam Exclusive

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Nice One Beauty Digital Marketing Co.’s net profit declined 56% to SAR 28.8 million for the first nine months of 2025, compared to SAR 65.9 million in the same period a year earlier.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 696.48 772.75 11.0 %
Gross Income 200.22 199.19 (0.5 %)
Operating Income 71.26 34.69 (51.3 %)
Net Income 65.88 28.76 (56.3 %)
Average Shares 110.00 115.50 5.0 %
Earnings Per Share before unusual items (Riyals) 0.60 0.25 (58.4 %)
EPS (Riyal) 0.60 0.25 (58.4 %)

The decline in profits was attributed to higher initial operating costs associated with the company’s ongoing expansion phase, mainly resulting from the opening of retail stores, increased marketing activities, and the recruitment of talent to support business growth and operational scaling.

 

This was partially offset by higher sales, primarily driven by increased order volumes and the continued expansion of private-label brands.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 237.65 255.43 7.5 %
Gross Income 63.20 67.61 7.0 %
Operating Income 27.44 7.95 (71.0 %)
Net Income 25.81 5.92 (77.1 %)
Average Shares 110.00 115.50 5.0 %
Earnings Per Share before unusual items (Riyal) 0.23 0.05 (78.2 %)
EPS (Riyal) 0.23 0.05 (78.2 %)

In Q3 2025, the company’s earnings declined 77.1% to SAR 5.92 million, from SAR 25.81 million in Q3 2024.

 

Sequentially, the company turned to profit versus a net loss of SAR 1.29 million in Q2 2025.

 

Shareholders’ equity, no minority interest, amounted to SAR 405.94 million by the end of 9M 2025, compared to SAR 178.54 million in prior-year period.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 - - - - - -
Q2 2021 - - - - - -
Q3 2021 - - - - - -
Q4 2021 - - - - - -
Q1 2022 - - - - - -
Q2 2022 - - - - - -
Q3 2022 - - - - - -
Q4 2022 - - - - - -
Q1 2023 155.14 - 47.04 - 9.21 -
Q2 2023 190.07 - 59.09 - 11.76 -
Q3 2023 167.54 - 50.72 - 9.79 -
Q4 2023 269.60 - 59.71 - 4.99 -
Q1 2024 250.05 61.2 % 71.10 51.1 % 23.88 159.3 %
Q2 2024 208.77 9.8 % 65.92 11.6 % 19.94 69.6 %
Q3 2024 237.65 41.8 % 63.20 24.6 % 27.44 180.3 %
Q4 2024 307.04 13.9 % 68.96 15.5 % 7.69 54.1 %
Q1 2025 324.97 30.0 % 81.27 14.3 % 26.91 12.7 %
Q2 2025 192.34 (7.9 %) 50.31 (23.7 %) (0.17) (100.8 %)
Q3 2025 255.43 7.5 % 67.61 7.0 % 7.95 (71.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 - - - - - -
Q2 2021 - - - - - -
Q3 2021 - - - - - -
Q4 2021 - - - - - -
Q1 2022 - - - - - -
Q2 2022 - - - - - -
Q3 2022 - - - - - -
Q4 2022 - - - - - -
Q1 2023 8.88 - 0.08 - 8.88 0.08
Q2 2023 12.27 - 0.11 1.94 10.34 0.09
Q3 2023 8.07 - 0.07 - 8.07 0.07
Q4 2023 3.41 - 0.03 0.35 3.06 0.03
Q1 2024 21.90 146.6 % 0.20 - 21.90 0.20
Q2 2024 18.17 48.0 % 0.17 - 18.17 0.17
Q3 2024 25.81 220.1 % 0.23 - 25.81 0.23
Q4 2024 5.87 72.1 % 0.05 - 5.87 0.05
Q1 2025 24.12 10.2 % 0.21 - 24.12 0.21
Q2 2025 (1.29) (107.1 %) (0.01) - (1.29) (0.01)
Q3 2025 5.92 (77.1 %) 0.05 - 5.92 0.05

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -
Q3 2023 - - -
Q4 2023 27.68 % - 3.88 %
Q1 2024 27.43 % - 4.94 %
Q2 2024 27.62 % - 5.71 %
Q3 2024 26.91 % - 7.14 %
Q4 2024 26.82 % - 7.15 %
2024 26.82 % 8.53 % 7.15 %
Q1 2025 25.90 % - 6.86 %
Q2 2025 24.83 % - 5.13 %
Q3 2025 24.83 % - 3.21 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 - - - -
Q2 2021 - - - -
Q3 2021 - - - -
Q4 2021 - - - -
Q1 2022 - - - -
Q2 2022 - - - -
Q3 2022 - - - -
Q4 2022 - - - -
Q1 2023 110.00 - - 0.89
Q2 2023 110.00 - - -
Q3 2023 110.00 - - 1.07
Q4 2023 110.00 0.30 0.28 1.02
Q1 2024 110.00 0.41 0.39 1.22
Q2 2024 110.00 0.47 0.47 1.39
Q3 2024 110.00 0.63 0.63 1.62
Q4 2024 110.00 0.65 0.65 1.69
Q1 2025 115.50 0.64 0.64 3.47
Q2 2025 115.50 0.47 0.47 3.47
Q3 2025 115.50 0.30 0.30 3.51

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -
Q3 2023 - - -
Q4 2023 - - -
Q1 2024 - - -
Q2 2024 - - -
Q3 2024 - - -
Q4 2024 - - -
Q1 2025 63.08 63.08 11.65
Q2 2025 70.00 70.00 9.54
Q3 2025 82.56 82.56 7.04

Business Segments (Million)

Compared With The
Period Revenue from sale of goods Revenue from services
Q1 2023 148.48 6.67
Q2 2023 181.46 8.61
Q3 2023 160.10 7.44
Q4 2023 258.17 11.43
Q1 2024 240.24 9.82
Q2 2024 200.14 8.63
Q3 2024 228.72 8.93
Q4 2024 296.36 10.68
Q1 2025 312.76 12.21
Q2 2025 183.74 8.61

Analysts Estimates (Million)

Item Profit (Expected) Profit (Actual) Change
Average 27.80 5.92

Estimates vs Actual (Million)

Item Profit (Expected) Profit (Actual) Change‬
SNB Capital 27.80 5.92


Financial Ratios
Current
Market Cap (M Riyal) 2,701.55
Enterprise Value (EV) (M Riyal) 2,588.35
Shares Outstanding ((M)) 115.50
EPS ( Riyal) (TTM) 0.30
Book Value (BV) ( Riyal) 3.51
Par Value ( Riyal) 1.00
Recurring P/E 78.03
P/E (TTM) 78.03
Price/book 6.65
Return on Average Assets (%) (TTM) 6.1
Return on Average Equity (%) (TTM) 11.8
EV/adj EBITDA -
EV/Revenues 2.40
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Share Price

Nice One Beauty Digital Marketing Co.
23.39
(0.55) (2.30 %)

Nice One Beauty Digital Marketing Co. (NICE ONE)

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