Saudi Aramco’s profit drops 12% to SAR 348.04B in 2025; Q4 at SAR 69.5B

10/03/2026 Argaam Exclusive

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Saudi Arabian Oil Co. (Saudi Aramco) reported a net profit decline of 12% to SAR 348.04 billion in 2025, compared to SAR 393.89 billion a year earlier.

Financials (M)

Item	2024	2025	Change‬
Revenues	1,801,674.00	1,671,204.00	(7.2 %)
Gross Income	972,885.00	921,277.00	(5.3 %)
Operating Income	786,671.80	739,007.60	(6.1 %)
Net Income	393,891.00	348,042.00	(11.6 %)
Average Shares	242,000.00	242,000.00	-
Earnings Per Share before unusual items (Halala)	167.74	157.12	(6.3 %)
EPS (Halala)	162.76	143.82	(11.6 %)

Saudi Aramco reported total adjustments of SAR 42.24 billion ($11.26 billion) mainly related to impairment and held for sale remeasurement losses, adjustments related to joint ventures and associates, losses for the year from assets classified as held for sale, and (gains) losses on sales, retirements and disposals.

Revenues declined due to lower prices of crude oil as well as prices of refined and chemical products. This was partially offset by higher volumes sold of refined and chemical products, as well as gas and crude oil.

Other income related to sales also declined. However, it was partially offset by a slump in operating costs as well as income taxes and Zakat on lower taxable income.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2024	Q4 2025	Change‬
Revenues	428,591.00	416,290.00	(2.9 %)
Gross Income	226,436.00	219,862.00	(2.9 %)
Operating Income	181,834.40	178,388.00	(1.9 %)
Net Income	86,756.00	69,470.00	(19.9 %)
Average Shares	242,000.00	242,000.00	-
Earnings Per Share before unusual items (Halala)	39.37	38.43	(2.4 %)
EPS (Halala)	35.85	28.71	(19.9 %)

Item	Q3 2025	Q4 2025	Change‬
Revenues	418,160.00	416,290.00	(0.4 %)
Gross Income	249,199.00	219,862.00	(11.8 %)
Operating Income	198,865.00	178,388.00	(10.3 %)
Net Income	97,264.00	69,470.00	(28.6 %)
Average Shares	242,000.00	242,000.00	-
Earnings Per Share before unusual items (Halala)	42.40	38.43	(9.4 %)
EPS (Halala)	40.19	28.71	(28.6 %)

Q4 2025 net profit dropped 20% to SAR 69.5 billion, compared to SAR 86.7 billion a year earlier.

On a quarterly basis, net profit slumped 28.6% from SAR 97.2 billion in Q3 2025.

Total shareholders’ equity (after minority interest) amounted to SAR 1.492 trillion as of Dec. 31, 2025, compared to SAR 1.458 trillion in a year earlier period.

Attached Documents

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	504,596.00	-	391,909.00	-	305,700.00	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	990,659.00	96.3 %	652,986.00	66.6 %	582,915.00	90.7 %
Q1 2018	287,510.00	-	193,232.00	-	174,917.00	-
Q2 2018	341,276.00	-	222,990.00	-	204,651.00	-
Q3 2018	363,374.00	-	240,041.00	-	217,347.00	-
Q4 2018	354,857.00	-	216,943.00	-	201,490.00	-
2018	1,347,017.00	36.0 %	873,206.00	33.7 %	798,405.00	37.0 %
Q1 2019	297,634.00	3.5 %	187,277.00	(3.1 %)	166,621.00	(4.7 %)
Q2 2019	322,307.00	(5.6 %)	202,770.00	(9.1 %)	181,256.00	(11.4 %)
Q3 2019	304,646.00	(16.2 %)	185,810.00	(22.6 %)	165,196.00	(24.0 %)
Q4 2019	312,198.00	(12.0 %)	188,077.00	(13.3 %)	161,798.00	(19.7 %)
2019	1,236,785.00	(8.2 %)	763,934.00	(12.5 %)	674,871.00	(15.5 %)
Q1 2020	250,345.00	(15.9 %)	151,436.00	(19.1 %)	129,732.00	(22.1 %)
Q2 2020	139,354.00	(56.8 %)	81,121.00	(60.0 %)	53,092.00	(70.7 %)
Q3 2020	228,594.00	(25.0 %)	129,379.00	(30.4 %)	96,046.00	(41.9 %)
Q4 2020	243,798.00	(21.9 %)	147,432.00	(21.6 %)	104,490.00	(35.4 %)
2020	862,091.00	(30.3 %)	509,368.00	(33.3 %)	383,360.00	(43.2 %)
Q1 2021	300,157.00	19.9 %	185,432.00	22.4 %	151,887.00	17.1 %
Q2 2021	349,950.00	151.1 %	215,179.00	165.3 %	179,115.00	237.4 %
Q3 2021	405,382.00	77.3 %	248,234.00	91.9 %	212,806.00	121.6 %
Q4 2021	446,269.00	83.0 %	271,963.00	84.5 %	228,110.00	118.3 %
2021	1,501,758.00	74.2 %	920,808.00	80.8 %	771,918.00	101.4 %
Q1 2022	516,897.00	72.2 %	319,172.00	72.1 %	277,705.00	82.8 %
Q2 2022	648,373.00	85.3 %	371,593.00	72.7 %	324,489.00	81.2 %
Q3 2022	613,935.00	51.4 %	343,282.00	38.3 %	300,234.00	41.1 %
Q4 2022	487,168.00	9.2 %	289,767.00	6.5 %	241,649.00	5.9 %
2022	2,266,373.00	50.9 %	1,323,814.00	43.8 %	1,144,077.00	48.2 %
Q1 2023	459,833.00	(11.0 %)	260,337.00	(18.4 %)	222,328.00	(19.9 %)
Q2 2023	448,318.00	(30.9 %)	250,667.00	(32.5 %)	212,553.00	(34.5 %)
Q3 2023	488,935.00	(20.4 %)	287,643.00	(16.2 %)	236,716.30	(21.2 %)
Q4 2023	459,287.00	(5.7 %)	248,767.00	(14.1 %)	199,104.00	(17.6 %)
2023	1,856,373.00	(18.1 %)	1,047,414.00	(20.9 %)	870,701.30	(23.9 %)
Q1 2024	437,847.00	(4.8 %)	248,740.00	(4.5 %)	202,304.20	(9.0 %)
Q2 2024	470,611.00	5.0 %	254,336.00	1.5 %	206,322.20	(2.9 %)
Q3 2024	464,625.00	(5.0 %)	243,373.00	(15.4 %)	196,211.00	(17.1 %)
Q4 2024	428,591.00	(6.7 %)	226,436.00	(9.0 %)	181,834.40	(8.7 %)
2024	1,801,674.00	(2.9 %)	972,885.00	(7.1 %)	786,671.80	(9.7 %)
Q1 2025	429,612.00	(1.9 %)	234,253.00	(5.8 %)	191,121.60	(5.5 %)
Q2 2025	407,142.00	(13.5 %)	217,963.00	(14.3 %)	170,633.00	(17.3 %)
Q3 2025	418,160.00	(10.0 %)	249,199.00	2.4 %	198,865.00	1.4 %
Q4 2025	416,290.00	(2.9 %)	219,862.00	(2.9 %)	178,388.00	(1.9 %)
2025	1,671,204.00	(7.2 %)	921,277.00	(5.3 %)	739,007.60	(6.1 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2016	504,596.00	-	391,909.00	-	305,700.00	-
2017	990,659.00	96.3 %	652,986.00	66.6 %	582,915.00	90.7 %
2018	1,347,017.00	36.0 %	873,206.00	33.7 %	798,405.00	37.0 %
2019	1,236,785.00	(8.2 %)	763,934.00	(12.5 %)	674,871.00	(15.5 %)
2020	862,091.00	(30.3 %)	509,368.00	(33.3 %)	383,360.00	(43.2 %)
2021	1,501,758.00	74.2 %	920,808.00	80.8 %	771,918.00	101.4 %
2022	2,266,373.00	50.9 %	1,323,814.00	43.8 %	1,144,077.00	48.2 %
2023	1,856,373.00	(18.1 %)	1,047,414.00	(20.9 %)	870,701.30	(23.9 %)
2024	1,801,674.00	(2.9 %)	972,885.00	(7.1 %)	786,671.80	(9.7 %)
2025	1,671,204.00	(7.2 %)	921,277.00	(5.3 %)	739,007.60	(6.1 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Halala)
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	48,349.00	-	19.98	-	48,349.00	19.98
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	283,198.00	485.7 %	117.02	-	283,198.00	117.02
Q1 2018	91,787.00	-	37.93	-	91,787.00	37.93
Q2 2018	106,574.00	-	44.04	-	106,574.00	44.04
Q3 2018	113,375.00	-	46.85	-	113,375.00	46.85
Q4 2018	104,460.00	-	43.17	-	104,460.00	43.17
2018	416,196.00	47.0 %	171.98	-	416,196.00	171.98
Q1 2019	83,226.00	(9.3 %)	34.39	-	83,226.00	34.39
Q2 2019	92,791.00	(12.9 %)	38.34	-	92,791.00	38.34
Q3 2019	79,788.00	(29.6 %)	32.97	-	79,788.00	32.97
Q4 2019	75,011.00	(28.2 %)	31.00	-	75,011.00	31.00
2019	330,816.00	(20.5 %)	136.70	-	330,816.00	136.70
Q1 2020	63,532.00	(23.7 %)	26.25	-	63,532.00	26.25
Q2 2020	25,370.00	(72.7 %)	10.48	-	25,370.00	10.48
Q3 2020	44,278.00	(44.5 %)	18.30	-	44,278.00	18.30
Q4 2020	51,746.00	(31.0 %)	21.38	-	51,746.00	21.38
2020	184,926.00	(44.1 %)	76.42	-	184,926.00	76.42
Q1 2021	78,590.00	23.7 %	32.48	-	78,590.00	32.48
Q2 2021	90,902.00	258.3 %	37.56	-	90,902.00	37.56
Q3 2021	109,072.00	146.3 %	45.07	-	109,072.00	45.07
Q4 2021	116,639.00	125.4 %	48.20	-	116,639.00	48.20
2021	395,203.00	113.7 %	163.31	-	395,203.00	163.31
Q1 2022	142,012.00	80.7 %	58.68	-	142,012.00	58.68
Q2 2022	173,795.00	91.2 %	71.82	3,064.00	170,731.00	70.55
Q3 2022	156,068.00	43.1 %	64.49	-	156,068.00	64.49
Q4 2022	125,340.00	7.5 %	51.79	464.00	124,876.00	51.60
2022	597,215.00	51.1 %	246.78	3,528.00	593,687.00	245.33
Q1 2023	117,471.00	(17.3 %)	48.54	4,491.00	112,980.00	46.69
Q2 2023	108,881.00	(37.4 %)	44.99	1,141.00	107,740.00	44.52
Q3 2023	123,534.00	(20.8 %)	51.05	(2270.30)	125,804.30	51.99
Q4 2023	102,867.00	(17.9 %)	42.51	-	102,867.00	42.51
2023	452,753.00	(24.2 %)	187.09	3,361.70	449,391.30	185.70
Q1 2024	103,356.00	(12.0 %)	42.71	(256.20)	103,612.20	42.81
Q2 2024	106,158.00	(2.5 %)	43.87	128.80	106,029.20	43.81
Q3 2024	97,621.00	(21.0 %)	40.34	(3396.00)	101,017.00	41.74
Q4 2024	86,756.00	(15.7 %)	35.85	(8523.40)	95,279.40	39.37
2024	393,891.00	(13.0 %)	162.76	(12046.80)	405,937.80	167.74
Q1 2025	95,676.00	(7.4 %)	39.54	239.40	95,436.60	39.44
Q2 2025	85,632.00	(19.3 %)	35.39	(3541.00)	89,173.00	36.85
Q3 2025	97,264.00	(0.4 %)	40.19	(5345.00)	102,609.00	42.40
Q4 2025	69,470.00	(19.9 %)	28.71	(23539.00)	93,009.00	38.43
2025	348,042.00	(11.6 %)	143.82	(32185.60)	380,227.60	157.12

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Halala)
2016	48,349.00	-	19.98	-	48,349.00	19.98
2017	283,198.00	485.7 %	117.02	-	283,198.00	117.02
2018	416,196.00	47.0 %	171.98	-	416,196.00	171.98
2019	330,816.00	(20.5 %)	136.70	-	330,816.00	136.70
2020	184,926.00	(44.1 %)	76.42	-	184,926.00	76.42
2021	395,203.00	113.7 %	163.31	-	395,203.00	163.31
2022	597,215.00	51.1 %	246.78	3,528.00	593,687.00	245.33
2023	452,753.00	(24.2 %)	187.09	3,361.70	449,391.30	185.70
2024	393,891.00	(13.0 %)	162.76	(12046.80)	405,937.80	167.74
2025	348,042.00	(11.6 %)	143.82	(32185.60)	380,227.60	157.12

Profitability

Period	Gross Margin	Adjusted EBITDA margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	77.67 %	67.24 %	9.58 %
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	65.91 %	62.59 %	28.59 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	64.83 %	-	30.90 %
2018	64.83 %	62.34 %	30.90 %
Q1 2019	63.90 %	-	30.04 %
Q2 2019	63.30 %	60.72 %	29.43 %
Q3 2019	61.96 %	59.63 %	28.16 %
Q4 2019	61.77 %	58.63 %	26.75 %
2019	61.77 %	58.63 %	26.75 %
Q1 2020	61.21 %	58.08 %	26.16 %
Q2 2020	60.25 %	56.37 %	24.21 %
Q3 2020	59.11 %	54.36 %	22.37 %
Q4 2020	59.09 %	53.31 %	21.45 %
2020	59.09 %	53.31 %	21.45 %
Q1 2021	59.59 %	53.40 %	21.93 %
Q2 2021	60.35 %	55.00 %	23.65 %
Q3 2021	61.29 %	56.62 %	25.42 %
Q4 2021	61.32 %	57.10 %	26.32 %
2021	61.32 %	57.10 %	26.32 %
Q1 2022	61.36 %	57.26 %	26.69 %
Q2 2022	60.04 %	56.02 %	26.70 %
Q3 2022	58.68 %	54.71 %	26.31 %
Q4 2022	58.41 %	54.52 %	26.20 %
2022	58.41 %	54.52 %	26.20 %
Q1 2023	57.26 %	53.47 %	25.56 %
Q2 2023	56.94 %	53.29 %	24.97 %
Q3 2023	57.76 %	53.55 %	25.02 %
Q4 2023	56.42 %	52.13 %	24.21 %
2023	56.42 %	52.13 %	24.21 %
Q1 2024	56.47 %	51.74 %	23.99 %
Q2 2024	55.99 %	50.92 %	23.61 %
Q3 2024	54.31 %	49.60 %	22.57 %
Q4 2024	54.00 %	48.75 %	22.53 %
2024	54.00 %	48.75 %	22.53 %
Q1 2025	53.44 %	48.32 %	22.18 %
Q2 2025	53.30 %	48.11 %	22.02 %
Q3 2025	55.11 %	49.59 %	22.72 %
Q4 2025	55.13 %	49.79 %	22.75 %
2025	55.13 %	49.79 %	22.75 %

Period	Gross Margin	Adjusted EBITDA margin	Net Margin Before Unusual Items
2016	77.67 %	67.24 %	9.58 %
2017	65.91 %	62.59 %	28.59 %
2018	64.83 %	62.34 %	30.90 %
2019	61.77 %	58.63 %	26.75 %
2020	59.09 %	53.31 %	21.45 %
2021	61.32 %	57.10 %	26.32 %
2022	58.41 %	54.52 %	26.20 %
2023	56.42 %	52.13 %	24.21 %
2024	54.00 %	48.75 %	22.53 %
2025	55.13 %	49.79 %	22.75 %

Period	Gross Margin	Adjusted EBITDA margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	67.21 %	-	31.92 %
Q2 2018	65.34 %	-	31.23 %
Q3 2018	66.06 %	62.71 %	31.20 %
Q4 2018	61.14 %	59.90 %	29.44 %
Q1 2019	62.92 %	60.14 %	27.96 %
Q2 2019	62.91 %	59.94 %	28.79 %
Q3 2019	60.99 %	58.49 %	26.19 %
Q4 2019	60.24 %	55.99 %	24.03 %
Q1 2020	60.49 %	57.81 %	25.38 %
Q2 2020	58.21 %	50.01 %	18.21 %
Q3 2020	56.60 %	51.00 %	19.37 %
Q4 2020	60.47 %	52.74 %	21.22 %
Q1 2021	61.78 %	57.35 %	26.18 %
Q2 2021	61.49 %	57.16 %	25.98 %
Q3 2021	61.23 %	57.95 %	26.91 %
Q4 2021	60.94 %	56.10 %	26.14 %
Q1 2022	61.75 %	57.78 %	27.47 %
Q2 2022	57.31 %	53.36 %	26.33 %
Q3 2022	55.92 %	52.57 %	25.42 %
Q4 2022	59.48 %	55.09 %	25.63 %
Q1 2023	56.62 %	53.13 %	24.57 %
Q2 2023	55.91 %	52.47 %	24.03 %
Q3 2023	58.83 %	53.40 %	25.73 %
Q4 2023	54.16 %	49.45 %	22.40 %
Q1 2024	56.81 %	51.55 %	23.66 %
Q2 2024	54.04 %	49.19 %	22.53 %
Q3 2024	52.38 %	48.33 %	21.74 %
Q4 2024	52.83 %	45.87 %	22.23 %
Q1 2025	54.53 %	49.82 %	22.21 %
Q2 2025	53.53 %	48.42 %	21.90 %
Q3 2025	59.59 %	54.30 %	24.54 %
Q4 2025	52.81 %	46.57 %	22.34 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Earnings Per Share before unusual items (Halala)	Book Value (BV)
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	242,000.00	-	-	-
Q2 2018	242,000.00	-	-	-
Q3 2018	242,000.00	-	-	-
Q4 2018	242,000.00	171.98	171.98	4.20
Q1 2019	242,000.00	168.44	168.44	-
Q2 2019	242,000.00	162.75	162.75	4.19
Q3 2019	242,000.00	148.87	148.87	4.29
Q4 2019	242,000.00	136.70	136.70	4.28
Q1 2020	242,000.00	128.56	128.56	4.42
Q2 2020	242,000.00	100.70	100.70	4.24
Q3 2020	242,000.00	86.03	86.03	4.15
Q4 2020	242,000.00	76.42	76.42	4.09
Q1 2021	242,000.00	82.64	82.64	4.18
Q2 2021	242,000.00	109.72	109.72	4.25
Q3 2021	242,000.00	136.49	136.49	4.41
Q4 2021	242,000.00	163.31	163.31	4.60
Q1 2022	242,000.00	189.51	189.51	4.95
Q2 2022	242,000.00	223.77	222.50	5.38
Q3 2022	242,000.00	243.19	241.92	5.74
Q4 2022	242,000.00	246.78	245.33	5.99
Q1 2023	242,000.00	236.64	233.33	6.16
Q2 2023	242,000.00	209.82	207.30	6.32
Q3 2023	242,000.00	196.37	194.79	6.38
Q4 2023	242,000.00	187.09	185.70	6.34
Q1 2024	242,000.00	181.26	181.83	6.30
Q2 2024	242,000.00	180.13	181.12	6.23
Q3 2024	242,000.00	169.42	170.88	6.15
Q4 2024	242,000.00	162.76	167.74	6.03
Q1 2025	242,000.00	159.59	164.36	6.09
Q2 2025	242,000.00	151.11	157.40	6.13
Q3 2025	242,000.00	150.96	158.06	6.20
Q4 2025	242,000.00	143.82	157.12	6.17

Period	Shares Outstanding (M)	EPS (Halala)	Earnings Per Share before unusual items (Halala)	Book Value (BV)
2016	242,000.00	19.98	19.98	2.99
2017	242,000.00	117.02	117.02	3.36
2018	242,000.00	171.98	171.98	4.20
2019	242,000.00	136.70	136.70	4.28
2020	242,000.00	76.42	76.42	4.09
2021	242,000.00	163.31	163.31	4.60
2022	242,000.00	246.78	245.33	5.99
2023	242,000.00	187.09	185.70	6.34
2024	242,000.00	162.76	167.74	6.03
2025	242,000.00	143.82	157.12	6.17

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	21.32	21.32	6.81
Q1 2020	19.39	19.39	5.64
Q2 2020	26.68	26.68	6.34
Q3 2020	34.50	34.50	7.15
Q4 2020	37.87	37.87	7.07
Q1 2021	36.02	36.02	7.13
Q2 2021	26.45	26.45	6.82
Q3 2021	21.81	21.81	6.74
Q4 2021	18.12	18.12	6.43
Q1 2022	18.80	18.80	7.20
Q2 2022	15.76	15.85	6.56
Q3 2022	13.40	13.47	5.68
Q4 2022	11.83	11.90	4.87
Q1 2023	12.41	12.58	4.76
Q2 2023	15.37	15.56	5.11
Q3 2023	17.82	17.97	5.48
Q4 2023	17.64	17.77	5.20
Q1 2024	17.02	16.97	4.90
Q2 2024	15.49	15.40	4.48
Q3 2024	16.00	15.86	4.40
Q4 2024	17.23	16.72	4.66
Q1 2025	16.76	16.27	4.39
Q2 2025	16.09	15.45	3.97
Q3 2025	16.31	15.58	3.97
Q4 2025	16.57	15.17	3.87

Period	P/E	Recurring P/E	Price/book
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	21.32	21.32	6.81
2020	37.87	37.87	7.07
2021	18.12	18.12	6.43
2022	11.83	11.90	4.87
2023	17.64	17.77	5.20
2024	17.23	16.72	4.66
2025	16.57	15.17	3.87

Business Segments (Million)

Compared With The

Period	upstream	Downstream	CorporateS	Eliminations
Q1 2019	237,105.00	122,907.00	339.00	(62717.00)
Q2 2019	257,113.00	136,125.00	345.00	(71276.00)
Q3 2019	236,714.00	130,565.00	362.00	(62995.00)
Q4 2019	239,463.00	137,822.00	593.00	(65680.00)
Q1 2020	192,737.00	112,283.00	484.00	(55159.00)
Q2 2020	95,490.00	71,739.00	409.00	(28284.00)
Q3 2020	154,065.00	121,906.00	363.00	(47740.00)
Q4 2020	163,178.00	135,293.00	414.00	(55087.00)
Q1 2021	201,388.00	166,121.00	365.00	(67717.00)
Q2 2021	228,034.00	194,912.00	385.00	(73381.00)
Q3 2021	275,054.00	220,726.00	308.00	(90706.00)
Q4 2021	310,961.00	241,269.00	720.00	(106681.00)
Q1 2022	368,363.00	269,210.00	395.00	(121071.00)
Q2 2022	443,360.00	346,989.00	658.00	(142634.00)
Q3 2022	416,022.00	329,392.00	528.00	(132007.00)
Q4 2022	345,660.00	254,123.00	370.00	(112985.00)
Q1 2023	301,914.00	253,962.00	504.00	(96547.00)
Q2 2023	293,457.00	247,446.00	598.00	(93183.00)
Q3 2023	317,268.00	275,835.00	864.00	(105032.00)
Q4 2023	299,134.00	256,269.00	297.00	(96413.00)
Q1 2024	291,520.00	249,364.00	811.00	(103848.00)
Q2 2024	300,859.00	275,356.00	734.00	(106338.00)
Q3 2024	283,378.00	283,665.00	1,058.00	(103476.00)
Q1 2025	269,507.00	253,011.00	830.00	(93736.00)
Q2 2025	240,546.00	256,656.00	660.00	(90720.00)
Q3 2025	268,480.00	245,707.00	680.00	(96707.00)
Q4 2025	255,193.00	251,244.00	988.00	(91135.00)

Period	upstream	Downstream	CorporateS	Eliminations
2016	525,855.00	167,734.00	1,083.00	(190076.00)
2017	816,634.00	415,827.00	1,210.00	(243012.00)
2018	1,102,161.00	552,825.00	1,585.00	(309554.00)
2019	970,395.00	527,419.00	1,639.00	(262668.00)
2020	605,470.00	441,221.00	1,670.00	(186270.00)
2021	1,015,437.00	823,028.00	1,778.00	(338485.00)
2022	1,573,405.00	1,199,714.00	1,951.00	(508697.00)
2023	1,211,773.00	1,033,512.00	2,263.00	(391175.00)
2024	1,141,156.00	1,063,258.00	1,531.00	(404271.00)
2025	1,033,726.00	1,006,618.00	3,158.00	(372298.00)

Analysts Estimates (Million)

Item	Profit (Expected)	Profit (Actual)	Change	Profit Before Unusual Items	Change
Average	90,195.67	69,470.00		93,009.00

Estimates vs Actual (Million)

Item	Profit (Expected)	Profit (Actual)	Profit Before Unusual Items
United Securities Company	87,000.00	69,470.00	93,009.00
SNB Capital	91,687.00	69,470.00	93,009.00
AlJazira Capital	91,900.00	69,470.00	93,009.00

Financial Ratios

	Current
Market Cap (M Riyal)	6,534,006.53
Enterprise Value (EV) (M Riyal)	6,774,706.53
Shares Outstanding ((M))	242,000.00
EPS ( Riyal) (TTM)	1.44
Book Value (BV) ( Riyal)	6.17
Par Value	-
Recurring P/E	17.18
P/E (TTM)	18.77
Price/book	4.38
Return on Average Assets (%) (TTM)	14.0
Return on Average Equity (%) (TTM)	23.6
EV/adj EBITDA	8.14
EV/Revenues	4.05

Saudi Arabian Oil Co. (SAUDI ARAMCO)

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Saudi Aramco’s profit drops 12% to SAR 348.04B in 2025; Q4 at SAR 69.5B

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2025 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Saudi Arabian Oil Co. (SAUDI ARAMCO)

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Saudi Aramco’s profit drops 12% to SAR 348.04B in 2025; Q4 at SAR 69.5B

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2025

Revenue by Business Segment (Latest) 2025 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Saudi Arabian Oil Co. (SAUDI ARAMCO)

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Business Segments (Million)