Cherry 2025 profit rises 13% to SAR 71M; Q4 at SAR 17.8M
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Cherry Trading Co. posted a 13% rise in the 2025 net profit to SAR 71 million, compared to SAR 63.1 million a year earlier.
Financials (M)
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 454.66 | 517.89 | 13.9 % |
| Gross Income | 145.96 | 154.36 | 5.8 % |
| Operating Income | 112.57 | 131.97 | 17.2 % |
| Net Income | 63.05 | 71.04 | 12.7 % |
| Average Shares | 30.00 | 30.00 | - |
| Earnings Per Share before unusual items (Riyals) | 2.10 | 2.37 | 12.7 % |
| EPS (Riyal) | 2.10 | 2.37 | 12.7 % |
Cherry said the annual net profit was buoyed by continued expansion in the long-and short-term rental segments, which remain the company’s core business.
Excluding used-car sales, which are a secondary revenue source, core operating revenue grew to 16.86%, reflecting the strength of the company’s main operations and improving revenue quality.
Higher fleet utilization rates in both the short-term and long-term rental segments, supporting improved operational efficiency. The company also cited targeted cost reductions.
Total revenue increased by 13.9% year-on-year.
Current Quarter Comparison (M)
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 130.57 | 162.01 | 24.1 % |
| Gross Income | 40.10 | 38.92 | (3.0 %) |
| Operating Income | 33.07 | 33.38 | 0.9 % |
| Net Income | 17.22 | 17.79 | 3.3 % |
| Average Shares | 30.00 | 30.00 | - |
| Earnings Per Share before unusual items (Riyal) | 0.57 | 0.59 | 3.3 % |
| EPS (Riyal) | 0.57 | 0.59 | 3.3 % |
Net earnings in Q4 2025 grew 3% to SAR 17.8 million from SAR 17.2 million in the year-earlier period.
However, net earnings declined by 16.1% from SAR 21.2 million in Q3 2025.
Total shareholders’ equity, with no minority interest, reached SAR 585.20 million as of Dec. 31, 2025, up from SAR 514.62 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2025 | 101.93 | (1.2 %) | 38.14 | 13.9 % | 28.14 | 20.6 % |
| Q2 2025 | 121.10 | 12.0 % | 35.31 | (7.8 %) | 28.75 | (2.4 %) |
| Q3 2025 | 132.85 | 17.8 % | 41.99 | 23.3 % | 32.67 | 42.1 % |
| Q4 2025 | 162.01 | 24.1 % | 38.92 | (3.0 %) | 33.38 | 0.9 % |
| 2025 | 517.89 | 13.9 % | 154.36 | 5.8 % | 131.97 | 17.2 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2025 | 15.46 | (1.1 %) | 0.52 | - | 15.46 | 0.52 |
| Q2 2025 | 16.59 | (11.3 %) | 0.55 | - | 16.59 | 0.55 |
| Q3 2025 | 21.20 | 84.4 % | 0.71 | - | 21.20 | 0.71 |
| Q4 2025 | 17.79 | 3.3 % | 0.59 | - | 17.79 | 0.59 |
| 2025 | 71.04 | 12.7 % | 2.37 | - | 71.04 | 2.37 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | - | - | - |
| Q2 2024 | - | - | - |
| Q3 2024 | - | - | - |
| Q4 2024 | 32.10 % | - | 13.87 % |
| 2024 | 32.10 % | 49.56 % | 13.87 % |
| Q1 2025 | 33.22 % | - | 13.87 % |
| Q2 2025 | 31.65 % | 51.89 % | 13.03 % |
| Q3 2025 | 31.98 % | 52.87 % | 14.49 % |
| Q4 2025 | 29.81 % | - | 13.72 % |
| 2025 | 29.81 % | - | 13.72 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2025 | 30.00 | 2.10 | 2.10 | 17.67 |
| Q2 2025 | 30.00 | 2.03 | 2.03 | 18.22 |
| Q3 2025 | 30.00 | 2.35 | 2.35 | 18.93 |
| Q4 2025 | 30.00 | 2.37 | 2.37 | 19.51 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2025 | - | - | - |
| Q2 2025 | - | - | - |
| Q3 2025 | - | - | - |
| Q4 2025 | 10.19 | 10.19 | 1.24 |
Business Segments (Million)
Q4 2025
| Period | Long-term Rental | Short-term Rental | Proceeds of Car Sales |
|---|---|---|---|
| Q3 2025 | 95.50 | 8.80 | 28.55 |
| Q4 2025 | 102.36 | 5.61 | 54.04 |
Analysts Estimates (Million)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 14.00 | 17.79 |
Estimates vs Actual (Million)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| GIB Capital | 14.00 | 17.79 |
| Current | |
| Market Cap (M Riyal) | 761.40 |
| Enterprise Value (EV) (M Riyal) | 1,546.46 |
| Shares Outstanding ((M)) | 30.00 |
| EPS ( Riyal) (TTM) | 2.37 |
| Book Value (BV) ( Riyal) | 19.51 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 10.72 |
| P/E (TTM) | 10.72 |
| Price/book | 1.30 |
| Return on Average Assets (%) (TTM) | 4.5 |
| Return on Average Equity (%) (TTM) | 12.9 |
| EV/adj EBITDA | - |
| EV/Revenues | 2.99 |
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