Almajed Oud’s 2025 profit up 39% at SAR 217.6M in 2025; Q4 at SAR 42.3M
04/02/2026
Argaam Exclusive
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Almajed Oud Co. reported a net profit of SAR 217.6 million in 2025, an increase of 39% compared to a net profit of SAR 157 million a year earlier.
Financials (M)
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 926.00 | 1,103.50 | 19.2 % |
| Gross Income | 609.70 | 723.30 | 18.6 % |
| Operating Income | 178.50 | 237.50 | 33.1 % |
| Net Income | 156.96 | 217.60 | 38.6 % |
| Average Shares | 25.00 | 25.00 | - |
| Earnings Per Share before unusual items (Riyals) | 6.48 | 8.70 | 34.3 % |
| EPS (Riyal) | 6.28 | 8.70 | 38.6 % |
This growth was primarily driven by strong sales, improved profitability, and the efficient control of operating expenses.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 234.06 | 252.23 | 7.8 % |
| Gross Income | 143.53 | 162.28 | 13.1 % |
| Operating Income | 18.73 | 45.43 | 142.5 % |
| Net Income | 15.03 | 42.26 | 181.1 % |
| Average Shares | 25.00 | 25.00 | - |
| Earnings Per Share before unusual items (Riyal) | 0.60 | 1.69 | 180.0 % |
| EPS (Riyal) | 0.60 | 1.69 | 181.1 % |
Q4 2025 net earnings surged 181% to SAR 42.3 million, compared to SAR 15.03 million in the year-earlier period.
On a quarterly basis, net profit increased 40.4% from SAR 30.11 million in Q3 2025.
Total shareholders’ equity, excluding minority interest, stood at SAR 584.3 million by Dec. 31, 2025, compared to SAR 468.2 million in a prior-year period.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2025 | 410.15 | 59.2 % | 270.97 | 56.9 % | 128.42 | 80.8 % |
| Q2 2025 | 208.69 | (19.6 %) | 135.13 | (22.1 %) | 28.72 | (53.3 %) |
| Q3 2025 | 232.44 | 33.0 % | 154.91 | 29.1 % | 34.93 | 8.2 % |
| Q4 2025 | 252.23 | 7.8 % | 162.28 | 13.1 % | 45.43 | 142.5 % |
| 2025 | 1,103.50 | 19.2 % | 723.30 | 18.6 % | 237.50 | 33.1 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2025 | 120.90 | 88.8 % | 4.84 | - | 120.90 | 4.84 |
| Q2 2025 | 24.33 | (56.1 %) | 0.97 | - | 24.33 | 0.97 |
| Q3 2025 | 30.11 | 34.3 % | 1.20 | - | 30.11 | 1.20 |
| Q4 2025 | 42.26 | 181.1 % | 1.69 | - | 42.26 | 1.69 |
| 2025 | 217.60 | 38.6 % | 8.70 | - | 217.60 | 8.70 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | 67.03 % | 36.49 % | 22.19 % |
| Q2 2024 | 67.05 % | 35.16 % | 20.14 % |
| Q3 2024 | 66.62 % | 35.30 % | 20.12 % |
| Q4 2024 | 65.84 % | 32.77 % | 17.49 % |
| 2024 | 65.84 % | 32.24 % | 17.49 % |
| Q1 2025 | 65.64 % | 33.88 % | 20.17 % |
| Q2 2025 | 65.16 % | 32.71 % | 18.01 % |
| Q3 2025 | 64.92 % | 31.42 % | 17.55 % |
| Q4 2025 | 65.55 % | - | 19.72 % |
| 2025 | 65.55 % | - | 19.72 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2025 | 25.00 | 8.55 | 8.70 | 23.56 |
| Q2 2025 | 25.00 | 7.31 | 7.40 | 20.47 |
| Q3 2025 | 25.00 | 7.61 | 7.62 | 21.68 |
| Q4 2025 | 25.00 | 8.70 | 8.70 | 23.37 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2025 | 16.13 | 15.86 | 5.86 |
| Q2 2025 | 20.27 | 20.01 | 7.23 |
| Q3 2025 | 16.00 | 15.99 | 5.62 |
| Q4 2025 | 15.20 | 15.20 | 5.66 |
Business Segments (Million)
Q2 2025
| Period | perfumes | Oud | incense | oils | gifts | others | Plant-Based Products |
|---|---|---|---|---|---|---|---|
| Q1 2025 | 250.19 | 53.32 | 28.71 | 28.71 | 41.01 | - | 8.20 |
| Q2 2025 | 139.68 | 20.94 | 8.42 | 14.61 | 20.87 | - | 4.18 |
Analysts Estimates (Million)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 23.10 | 42.26 |
Estimates vs Actual (Million)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| AlJazira Capital | 29.70 | 42.26 | |
| SNB Capital | 16.50 | 42.26 |
| Current | |
| Market Cap (M Riyal) | 4,030.00 |
| Enterprise Value (EV) (M Riyal) | 3,833.06 |
| Shares Outstanding ((M)) | 25.00 |
| EPS ( Riyal) (TTM) | 8.70 |
| Book Value (BV) ( Riyal) | 23.37 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 18.52 |
| P/E (TTM) | 18.52 |
| Price/book | 6.90 |
| Return on Average Assets (%) (TTM) | 25.7 |
| Return on Average Equity (%) (TTM) | 41.3 |
| EV/adj EBITDA | - |
| EV/Revenues | 3.47 |
Share Price
Al Majed Oud Co. (ALMAJED OUD)
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