Financial Results : SACO posts SAR 49.5M profit in 9M 2025; Q3 at SAR 39.4M on one-off gains

SACO posts SAR 49.5M profit in 9M 2025; Q3 at SAR 39.4M on one-off gains

02/11/2025 Argaam Exclusive

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Saudi Company for Hardware (SACO) reported a net profit of SAR 49.5 million in the first nine months of 2025, against a net loss of SAR 17.5 million in the same period a year ago



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 714.56 776.10 8.6 %
Gross Income 97.78 114.18 16.8 %
Operating Income 5.51 27.09 391.7 %
Net Income (17.51) 49.52 382.7 %
Average Shares 36.00 36.00 -
Earnings Per Share before unusual items (Riyals) (0.49) 0.43 188.3 %
EPS (Riyal) (0.49) 1.38 382.7 %

The profit was primarily from gains on the sale of an investment property, higher sales driven by the introduction of new departments, product categories, services, and stronger performance in other business segments, particularly e-commerce.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 245.45 261.41 6.5 %
Gross Income 33.06 35.16 6.4 %
Operating Income (0.37) 2.35 735.1 %
Net Income (8.98) 39.36 538.3 %
Average Shares 36.00 36.00 -
Earnings Per Share before unusual items (Riyal) (0.25) 0.15 159.1 %
EPS (Riyal) (0.25) 1.09 538.3 %

In Q3 2025, SACO posted a net profit of SAR 39.4 million, versus a net loss of SAR 8.98 million in Q3 2024.

 

Sequentially, net earnings rose 674.7% from SAR 5.08 million in Q2 2025.

 

Shareholders' equity, no minority interest, rose to SAR 375.59 million by the end of Sept. 30, 2025, from SAR 322.87 million a year ago.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 303.21 (2.0 %) 60.75 (8.7 %) 31.85 (12.2 %)
Q2 2016 351.49 0.6 % 71.59 (2.0 %) 39.81 3.7 %
Q3 2016 284.97 7.4 % 52.50 1.5 % 23.54 12.4 %
Q4 2016 384.42 9.0 % 75.76 11.1 % 46.70 28.5 %
Q1 2017 326.29 7.6 % 62.01 2.1 % 33.38 4.8 %
Q2 2017 376.33 7.1 % 76.65 7.1 % 43.53 9.3 %
Q3 2017 322.91 13.3 % 61.14 16.5 % 27.25 15.8 %
Q4 2017 429.85 11.8 % 84.88 12.0 % 45.78 (2.0 %)
Q1 2018 321.67 (1.4 %) 53.81 (13.2 %) 17.55 (47.4 %)
Q2 2018 343.03 (8.8 %) 54.94 (28.3 %) 24.14 (44.5 %)
Q3 2018 340.17 5.3 % 64.44 5.4 % 27.80 2.0 %
Q4 2018 385.61 (10.3 %) 76.72 (9.6 %) 42.87 (6.4 %)
Q1 2019 370.24 15.1 % 63.85 18.6 % 29.86 70.1 %
Q2 2019 343.83 0.2 % 64.84 18.0 % 32.88 36.2 %
Q3 2019 351.61 3.4 % 67.13 4.2 % 26.45 (4.8 %)
Q4 2019 392.08 1.7 % 85.84 11.9 % 18.48 (56.9 %)
Q1 2020 358.04 (3.3 %) 62.40 (2.3 %) 25.53 (14.5 %)
Q2 2020 389.53 13.3 % 85.95 32.6 % 47.93 45.8 %
Q3 2020 332.14 (5.5 %) 67.24 0.2 % 27.60 4.4 %
Q4 2020 402.05 2.5 % 80.84 (5.8 %) 45.59 146.7 %
Q1 2021 337.63 (5.7 %) 68.26 9.4 % 27.24 6.7 %
Q2 2021 323.66 (16.9 %) 62.81 (26.9 %) 22.95 (52.1 %)
Q3 2021 295.83 (10.9 %) 38.48 (42.8 %) (2.97) (110.7 %)
Q4 2021 315.38 (21.6 %) 23.19 (71.3 %) (33.53) (173.6 %)
Q1 2022 319.51 (5.4 %) 56.06 (17.9 %) 12.46 (54.3 %)
Q2 2022 251.00 (22.5 %) 31.59 (49.7 %) (12.89) (156.2 %)
Q3 2022 254.13 (14.1 %) 3.70 (90.4 %) (38.39) (1,193.7 %)
Q4 2022 311.90 (1.1 %) (23.73) (202.3 %) (68.94) (105.6 %)
Q1 2023 240.27 (24.8 %) 27.86 (50.3 %) (8.75) (170.2 %)
Q2 2023 231.43 (7.8 %) 27.70 (12.3 %) (8.04) 37.6 %
Q3 2023 219.44 (13.6 %) (18.21) (592.3 %) (52.21) (36.0 %)
Q4 2023 238.98 (23.4 %) 21.76 191.7 % (24.48) 64.5 %
Q1 2024 232.60 (3.2 %) 33.87 21.6 % (0.78) 91.1 %
Q2 2024 236.52 2.2 % 30.86 11.4 % (4.24) 47.3 %
Q3 2024 245.45 11.9 % 33.06 281.6 % (0.37) 99.3 %
Q4 2024 279.08 16.8 % 43.70 100.8 % 4.86 119.8 %
Q1 2025 261.32 12.4 % 38.25 13.0 % 8.09 1140.9 %
Q2 2025 253.37 7.1 % 40.76 32.1 % 11.48 370.9 %
Q3 2025 261.41 6.5 % 35.16 6.4 % 2.35 735.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2016 28.72 (15.1 %) 0.80 - 28.72 0.80
Q2 2016 37.05 3.3 % 1.03 - 37.05 1.03
Q3 2016 21.06 13.9 % 0.59 - 21.06 0.59
Q4 2016 42.14 11.2 % 1.17 - 42.14 1.17
Q1 2017 30.76 7.1 % 0.85 - 30.76 0.85
Q2 2017 40.36 8.9 % 1.12 - 40.36 1.12
Q3 2017 22.79 8.2 % 0.63 - 22.79 0.63
Q4 2017 40.99 (2.7 %) 1.14 - 40.99 1.14
Q1 2018 14.59 (52.6 %) 0.41 - 14.59 0.41
Q2 2018 20.38 (49.5 %) 0.57 - 20.38 0.57
Q3 2018 24.43 7.2 % 0.68 - 24.43 0.68
Q4 2018 38.48 (6.1 %) 1.07 - 38.48 1.07
Q1 2019 19.24 31.9 % 0.53 - 19.24 0.53
Q2 2019 21.69 6.4 % 0.60 - 21.69 0.60
Q3 2019 14.65 (40.0 %) 0.41 - 14.65 0.41
Q4 2019 6.06 (84.3 %) 0.17 - 6.06 0.17
Q1 2020 11.72 (39.1 %) 0.33 - 11.72 0.33
Q2 2020 33.14 52.8 % 0.92 - 33.14 0.92
Q3 2020 16.48 12.5 % 0.46 - 16.48 0.46
Q4 2020 24.19 299.2 % 0.67 (6.92) 31.11 0.86
Q1 2021 15.63 33.4 % 0.43 - 15.63 0.43
Q2 2021 14.44 (56.4 %) 0.40 - 14.44 0.40
Q3 2021 (13.87) (184.2 %) (0.39) - (13.87) (0.39)
Q4 2021 (44.69) (284.7 %) (1.24) - (44.69) (1.24)
Q1 2022 1.11 (92.9 %) 0.03 - 1.11 0.03
Q2 2022 (20.53) (242.1 %) (0.57) - (20.53) (0.57)
Q3 2022 (45.87) (230.6 %) (1.27) - (45.87) (1.27)
Q4 2022 (77.21) (72.8 %) (2.14) - (77.21) (2.14)
Q1 2023 (16.52) (1592.4 %) (0.46) 5.71 (22.23) (0.62)
Q2 2023 (15.94) 22.4 % (0.44) 1.78 (17.71) (0.49)
Q3 2023 (12.20) 73.4 % (0.34) 44.33 (56.52) (1.57)
Q4 2023 (24.32) 68.5 % (0.68) 1.11 (25.43) (0.71)
Q1 2024 (4.55) 72.5 % (0.13) - (4.55) (0.13)
Q2 2024 (3.98) 75.0 % (0.11) - (3.98) (0.11)
Q3 2024 (8.98) 26.4 % (0.25) - (8.98) (0.25)
Q4 2024 3.43 114.1 % 0.10 - 3.43 0.10
Q1 2025 5.07 211.5 % 0.14 - 5.07 0.14
Q2 2025 5.08 227.6 % 0.14 - 5.08 0.14
Q3 2025 39.36 538.3 % 1.09 34.05 5.31 0.15

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2016 19.97 % 12.41 % 9.17 %
Q2 2016 19.82 % 12.49 % 9.25 %
Q3 2016 19.58 % 12.51 % 9.30 %
Q4 2016 19.68 % 13.01 % 9.74 %
Q1 2017 19.44 % 12.97 % 9.72 %
Q2 2017 19.45 % 13.13 % 9.79 %
Q3 2017 19.54 % 13.17 % 9.65 %
Q4 2017 19.56 % 12.92 % 9.27 %
Q1 2018 19.06 % 12.03 % 8.18 %
Q2 2018 17.97 % 11.04 % 6.97 %
Q3 2018 17.99 % 11.02 % 7.00 %
Q4 2018 17.97 % 11.17 % 7.04 %
Q1 2019 18.06 % 12.83 % 7.12 %
Q2 2019 18.74 % 14.70 % 7.21 %
Q3 2019 18.78 % 15.66 % 6.48 %
Q4 2019 19.32 % 15.39 % 4.23 %
Q1 2020 19.38 % 15.56 % 3.74 %
Q2 2020 20.21 % 16.31 % 4.40 %
Q3 2020 20.48 % 16.87 % 4.58 %
Q4 2020 20.00 % 18.10 % 6.24 %
Q1 2021 20.69 % 18.26 % 6.59 %
Q2 2021 20.00 % 17.10 % 5.57 %
Q3 2021 18.42 % 15.09 % 3.48 %
Q4 2021 15.15 % 10.20 % (2.24 %)
Q1 2022 14.39 % 9.19 % (3.43 %)
Q2 2022 12.64 % 6.75 % (6.60 %)
Q3 2022 10.05 % 4.07 % (9.65 %)
Q4 2022 5.95 % 1.04 % (12.54 %)
Q1 2023 3.73 % (1.02 %) (15.69 %)
Q2 2023 3.42 % (0.78 %) (15.71 %)
Q3 2023 1.36 % (2.63 %) (17.31 %)
Q4 2023 6.36 % 1.49 % (13.11 %)
Q1 2024 7.06 % 2.01 % (11.30 %)
Q2 2024 7.36 % 2.18 % (9.76 %)
Q3 2024 12.54 % 7.39 % (4.50 %)
Q4 2024 14.24 % 9.95 % (1.42 %)
2024 14.24 % 9.55 % (1.42 %)
Q1 2025 14.27 % 10.54 % (0.44 %)
Q2 2025 14.99 % 11.88 % 0.44 %
Q3 2025 14.96 % - 1.79 %


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 36.00 3.36 3.24 13.29
Q2 2016 36.00 3.39 3.27 13.32
Q3 2016 36.00 3.47 3.34 13.90
Q4 2016 36.00 3.58 3.58 14.07
Q1 2017 36.00 3.64 3.64 14.93
Q2 2017 36.00 3.73 3.73 16.05
Q3 2017 36.00 3.78 3.78 15.51
Q4 2017 36.00 3.75 3.75 16.65
Q1 2018 36.00 3.30 3.30 15.99
Q2 2018 36.00 2.74 2.74 16.55
Q3 2018 36.00 2.79 2.79 16.57
Q4 2018 36.00 2.72 2.72 17.63
Q1 2019 36.00 2.85 2.85 15.85
Q2 2019 36.00 2.88 2.88 15.45
Q3 2019 36.00 2.61 2.61 14.86
Q4 2019 36.00 1.71 1.71 15.02
Q1 2020 36.00 1.50 1.50 15.38
Q2 2020 36.00 1.82 1.82 16.30
Q3 2020 36.00 1.87 1.87 16.26
Q4 2020 36.00 2.38 2.57 16.95
Q1 2021 36.00 2.48 2.68 16.65
Q2 2021 36.00 1.97 2.16 17.04
Q3 2021 36.00 1.12 1.31 16.66
Q4 2021 36.00 (0.79) (0.79) 15.45
Q1 2022 36.00 (1.19) (1.19) 15.48
Q2 2022 36.00 (2.17) (2.17) 14.91
Q3 2022 36.00 (3.06) (3.06) 13.60
Q4 2022 36.00 (3.96) (3.96) 11.49
Q1 2023 36.00 (4.45) (4.61) 11.03
Q2 2023 36.00 (4.32) (4.53) 10.59
Q3 2023 36.00 (3.38) (4.82) 10.25
Q4 2023 36.00 (1.92) (3.39) 9.55
Q1 2024 36.00 (1.58) (2.89) 9.31
Q2 2024 36.00 (1.25) (2.51) 9.22
Q3 2024 36.00 (1.16) (1.19) 8.97
Q4 2024 36.00 (0.39) (0.39) 9.06
Q1 2025 36.00 (0.12) (0.12) 9.20
Q2 2025 36.00 0.13 0.13 9.34
Q3 2025 36.00 1.47 0.52 10.43

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2016 17.03 17.69 4.31
Q2 2016 17.42 18.08 4.44
Q3 2016 11.62 12.06 2.90
Q4 2016 15.89 15.89 4.04
Q1 2017 16.53 16.53 4.03
Q2 2017 18.94 18.94 4.40
Q3 2017 19.09 19.09 4.65
Q4 2017 19.48 19.48 4.38
Q1 2018 26.67 26.67 5.50
Q2 2018 27.99 27.99 4.64
Q3 2018 18.62 18.62 3.13
Q4 2018 24.35 24.35 3.75
Q1 2019 25.49 25.49 4.58
Q2 2019 23.57 23.57 4.40
Q3 2019 24.30 24.30 4.27
Q4 2019 30.43 30.43 3.47
Q1 2020 25.21 25.21 2.46
Q2 2020 24.32 24.32 2.72
Q3 2020 27.45 27.45 3.16
Q4 2020 24.50 22.66 3.43
Q1 2021 23.95 22.23 3.57
Q2 2021 37.86 34.49 4.37
Q3 2021 56.33 48.09 3.79
Q4 2021 NEG NEG 3.16
Q1 2022 NEG NEG 2.85
Q2 2022 NEG NEG 2.38
Q3 2022 NEG NEG 2.48
Q4 2022 NEG NEG 2.37
Q1 2023 NEG NEG 2.63
Q2 2023 NEG NEG 3.38
Q3 2023 NEG NEG 3.02
Q4 2023 NEG NEG 4.05
Q1 2024 NEG NEG 3.81
Q2 2024 NEG NEG 3.85
Q3 2024 NEG NEG 4.14
Q4 2024 NEG NEG 3.49
Q1 2025 NEG NEG 3.48
Q2 2025 More than 100 More than 100 3.19
Q3 2025 20.09 56.29 2.83

Business Segments (Million)

Compared With The
Period Sales and Services Logistics Retail sector Wholesale
Q1 2016 303.21 - - -
Q2 2016 351.49 - - -
Q3 2016 284.97 - - -
Q4 2016 382.52 - - -
Q1 2017 323.49 2.79 - -
Q2 2017 373.84 2.49 - -
Q3 2017 320.88 2.60 - -
Q4 2017 427.08 2.77 - -
Q1 2018 317.69 3.98 - -
Q2 2018 341.65 1.37 - -
Q3 2018 337.70 2.47 - -
Q4 2018 382.79 2.82 - -
Q1 2019 367.49 2.75 - -
Q2 2019 342.52 1.31 - -
Q3 2019 348.74 2.87 - -
Q4 2019 388.88 3.19 - -
Q1 2020 351.44 6.60 - -
Q3 2020 328.53 3.61 - -
Q4 2020 395.09 6.96 - -
Q1 2021 331.90 4.49 - -
Q2 2021 320.94 3.96 - -
Q3 2021 285.71 10.12 - -
Q4 2021 310.81 8.18 - -
Q1 2022 307.54 11.97 - -
Q2 2022 243.92 7.08 - -
Q3 2022 249.23 4.90 - -
Q4 2022 307.62 4.28 - -
Q1 2023 235.76 4.51 - -
Q2 2023 227.01 4.42 - -
Q3 2023 213.94 5.51 - -
Q4 2023 232.52 6.46 - -
Q1 2024 223.65 8.95 - -
Q2 2024 227.30 9.22 - -
Q3 2024 233.77 11.67 - -
Q4 2024 266.57 12.51 - -
Q1 2025 251.58 9.75 - -
Q2 2025 242.93 10.44 - -

Analysts Estimates (Million)

Item Profit (Expected) Profit (Actual) Change Profit Before Unusual Items Change
Average 52.30 39.36 5.31

Estimates vs Actual (Million)

Item Profit (Expected) Profit (Actual) Change‬ Profit Before Unusual Items Change‬
AlJazira Capital 52.30 39.36 5.31


Financial Ratios
Current
Market Cap (M Riyal) 1,079.28
Enterprise Value (EV) (M Riyal) 1,179.26
Shares Outstanding ((M)) 36.00
EPS ( Riyal) (TTM) 1.47
Book Value (BV) ( Riyal) 10.43
Par Value ( Riyal) 10.00
Recurring P/E 57.13
P/E (TTM) 20.39
Price/book 2.87
Return on Average Assets (%) (TTM) 4.3
Return on Average Equity (%) (TTM) 15.2
EV/adj EBITDA -
EV/Revenues 1.12
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Share Price

Saudi Company for Hardware
29.98
(0.12) (0.40 %)

Saudi Company for Hardware (SACO)

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