Arabian Drilling earns SAR 73.3M in 9M 2025, loses SAR 9.4M in Q3

02/11/2025 Argaam Exclusive

View other reports

Arabian Drilling Co. (ADC) reported a net profit of SAR 73.3 million in the first nine months of 2025, compared with SAR 251.3 million in the year-earlier period.

Financials (M)

Item	9m 2024	9m 2025	Change‬
Revenues	2,769.16	2,608.99	(5.8 %)
Gross Income	682.52	403.93	(40.8 %)
Operating Income	530.45	240.06	(54.7 %)
Net Income	251.25	73.27	(70.8 %)
Average Shares	89.00	89.00	-
Earnings Per Share before unusual items (Riyals)	4.00	0.65	(83.8 %)
EPS (Riyal)	2.82	0.82	(70.8 %)

Revenue decreased 5.8% year-on-year (YoY), mainly due to lower offshore and onshore rig activity, partially offset by additional revenues from unconventional rigs.

Net income decreased 70.8% YoY, mainly due to a shift in activity mix, with reduced offshore contributions only partially mitigated by improvements in the land segment.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2024	Q3 2025	Change‬
Revenues	863.19	835.43	(3.2 %)
Gross Income	179.63	100.92	(43.8 %)
Operating Income	135.26	54.00	(60.1 %)
Net Income	84.81	(9.41)	(111.1 %)
Average Shares	89.00	89.00	-
Earnings Per Share before unusual items (Riyal)	0.95	(0.11)	(111.1 %)
EPS (Riyal)	0.95	(0.11)	(111.1 %)

Item	Q2 2025	Q3 2025	Change‬
Revenues	862.47	835.43	(3.1 %)
Gross Income	123.01	100.92	(18.0 %)
Operating Income	65.56	54.00	(17.6 %)
Net Income	7.48	(9.41)	(225.8 %)
Average Shares	89.00	89.00	-
Earnings Per Share before unusual items (Riyal)	0.08	(0.11)	(225.8 %)
EPS (Riyal)	0.08	(0.11)	(225.8 %)

In Q3 2025, ADC turned to a net loss of SAR 9.4 million from a net profit of SAR 84.81 million a year earlier, mainly due to lower revenues.

Sequentially, the company turned to losses from earnings of SAR 7.48 million in Q2 2025.

Total shareholders’ equity, no minority interest, increased to SAR 5.88 billion as of Sept. 30, 2025, from SAR 5.86 billion a year earlier.

Attached Documents

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	2,453.68	-	574.02	-	448.01	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	2,814.28	14.7 %	558.17	(2.8 %)	401.90	(10.3 %)
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	2,532.57	(10.0 %)	523.10	(6.3 %)	398.75	(0.8 %)
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	547.74	-	97.46	-	67.26	-
Q4 2021	595.42	-	169.82	-	142.86	-
2021	2,198.97	(13.2 %)	475.62	(9.1 %)	363.55	(8.8 %)
Q1 2022	598.53	-	156.65	-	120.28	-
Q2 2022	652.90	-	186.93	-	148.81	-
Q3 2022	701.84	28.1 %	216.42	122.1 %	177.47	163.9 %
Q4 2022	750.27	26.0 %	241.44	42.2 %	175.24	22.7 %
2022	2,703.54	22.9 %	801.44	68.5 %	621.80	71.0 %
Q1 2023	779.28	30.2 %	207.25	32.3 %	172.29	43.2 %
Q2 2023	790.65	21.1 %	229.05	22.5 %	179.09	20.4 %
Q3 2023	919.58	31.0 %	266.68	23.2 %	212.34	19.6 %
Q4 2023	987.01	31.6 %	272.92	13.0 %	230.44	31.5 %
2023	3,476.52	28.6 %	975.90	21.8 %	801.23	28.9 %
Q1 2024	966.67	24.0 %	268.73	29.7 %	211.25	22.6 %
Q2 2024	939.30	18.8 %	234.16	2.2 %	183.95	2.7 %
Q3 2024	863.19	(6.1 %)	179.63	(32.6 %)	135.26	(36.3 %)
Q4 2024	849.66	(13.9 %)	182.38	(33.2 %)	128.59	(44.2 %)
2024	3,618.82	4.1 %	864.90	(11.4 %)	659.05	(17.7 %)
Q1 2025	911.08	(5.7 %)	179.99	(33.0 %)	137.00	(35.1 %)
Q2 2025	862.47	(8.2 %)	123.01	(47.5 %)	65.56	(64.4 %)
Q3 2025	835.43	(3.2 %)	100.92	(43.8 %)	54.00	(60.1 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	2,453.68	-	574.02	-	448.01	-
2019	2,814.28	14.7 %	558.17	(2.8 %)	401.90	(10.3 %)
2020	2,532.57	(10.0 %)	523.10	(6.3 %)	398.75	(0.8 %)
2021	2,198.97	(13.2 %)	475.62	(9.1 %)	363.55	(8.8 %)
2022	2,703.54	22.9 %	801.44	68.5 %	621.80	71.0 %
2023	3,476.52	28.6 %	975.90	21.8 %	801.23	28.9 %
2024	3,618.82	4.1 %	864.90	(11.4 %)	659.05	(17.7 %)

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	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	92.59	-	1.16	(277.65)	370.24	4.63
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	230.42	148.9 %	2.88	(19.27)	249.69	3.12
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	294.07	27.6 %	3.68	-	294.07	3.68
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	35.44	-	0.44	-	35.44	0.44
Q4 2021	118.31	-	1.48	-	118.31	1.48
2021	273.58	(7.0 %)	3.42	-	273.58	3.42
Q1 2022	93.63	-	1.17	(2.90)	96.54	1.21
Q2 2022	114.02	-	1.43	(5.23)	119.25	1.49
Q3 2022	213.37	502.0 %	2.67	72.35	141.02	1.76
Q4 2022	136.69	15.5 %	1.54	(6.43)	143.13	1.61
2022	557.72	103.9 %	6.27	57.79	499.93	5.62
Q1 2023	141.48	51.1 %	1.59	-	141.48	1.59
Q2 2023	140.29	23.0 %	1.58	-	140.29	1.58
Q3 2023	140.04	(34.4 %)	1.57	-	140.04	1.57
Q4 2023	182.81	33.7 %	2.05	-	182.81	2.05
2023	604.61	8.4 %	6.79	-	604.61	6.79
Q1 2024	146.26	3.4 %	1.64	-	146.26	1.64
Q2 2024	20.18	(85.6 %)	0.23	(105.00)	125.18	1.41
Q3 2024	84.81	(39.4 %)	0.95	-	84.81	0.95
Q4 2024	70.12	(61.6 %)	0.79	-	70.12	0.79
2024	321.36	(46.8 %)	3.61	(105.00)	426.36	4.79
Q1 2025	75.20	(48.6 %)	0.84	15.50	59.70	0.67
Q2 2025	7.48	(62.9 %)	0.08	-	7.48	0.08
Q3 2025	(9.41)	(111.1 %)	(0.11)	-	(9.41)	(0.11)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	92.59	-	1.16	(277.65)	370.24	4.63
2019	230.42	148.9 %	2.88	(19.27)	249.69	3.12
2020	294.07	27.6 %	3.68	-	294.07	3.68
2021	273.58	(7.0 %)	3.42	-	273.58	3.42
2022	557.72	103.9 %	6.27	57.79	499.93	5.62
2023	604.61	8.4 %	6.79	-	604.61	6.79
2024	321.36	(46.8 %)	3.61	(105.00)	426.36	4.79

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	23.39 %	41.43 %	15.09 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	19.83 %	36.51 %	8.87 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	20.65 %	44.66 %	11.61 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	21.63 %	41.44 %	12.44 %
Q1 2022	-	-	-
Q2 2022	25.51 %	41.19 %	15.43 %
Q3 2022	28.64 %	43.75 %	18.64 %
Q4 2022	29.64 %	42.43 %	18.49 %
2022	29.64 %	42.43 %	18.49 %
Q1 2023	29.54 %	42.72 %	18.89 %
Q2 2023	29.59 %	43.13 %	18.73 %
Q3 2023	29.15 %	42.31 %	17.44 %
Q4 2023	28.07 %	42.52 %	17.39 %
2023	28.07 %	42.72 %	17.39 %
Q1 2024	28.31 %	42.42 %	16.63 %
Q2 2024	27.34 %	42.15 %	15.59 %
Q3 2024	25.44 %	41.66 %	14.35 %
Q4 2024	23.90 %	41.36 %	11.78 %
2024	23.90 %	41.36 %	11.78 %
Q1 2025	21.78 %	41.36 %	9.54 %
Q2 2025	19.07 %	39.77 %	6.37 %
Q3 2025	16.95 %	38.40 %	3.70 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	23.39 %	41.43 %	15.09 %
2019	19.83 %	36.51 %	8.87 %
2020	20.65 %	44.66 %	11.61 %
2021	21.63 %	41.44 %	12.44 %
2022	29.64 %	42.43 %	18.49 %
2023	28.07 %	42.72 %	17.39 %
2024	23.90 %	41.36 %	11.78 %

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	17.79 %	35.77 %	6.47 %
Q4 2021	28.52 %	47.50 %	19.87 %
Q1 2022	26.17 %	40.30 %	16.13 %
Q2 2022	28.63 %	40.79 %	18.26 %
Q3 2022	30.84 %	46.28 %	20.09 %
Q4 2022	32.18 %	41.95 %	19.08 %
Q1 2023	26.60 %	41.87 %	18.16 %
Q2 2023	28.97 %	42.67 %	17.74 %
Q3 2023	29.00 %	42.66 %	15.23 %
Q4 2023	27.65 %	42.78 %	18.52 %
Q1 2024	27.80 %	41.61 %	15.13 %
Q2 2024	24.93 %	41.53 %	13.33 %
Q3 2024	20.81 %	40.58 %	9.83 %
Q4 2024	21.47 %	41.67 %	8.25 %
Q1 2025	19.76 %	41.63 %	6.55 %
Q2 2025	14.26 %	35.12 %	0.87 %
Q3 2025	12.08 %	34.96 %	(1.13 %)

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	80.00	-	-	50.48
Q4 2021	80.00	-	-	52.40
Q1 2022	80.00	-	-	53.15
Q2 2022	80.00	4.52	4.62	54.59
Q3 2022	80.00	6.74	5.94	57.25
Q4 2022	89.00	6.27	5.62	62.81
Q1 2023	89.00	6.80	6.12	64.40
Q2 2023	89.00	7.10	6.36	65.97
Q3 2023	89.00	6.28	6.35	67.55
Q4 2023	89.00	6.79	6.79	66.98
Q1 2024	89.00	6.85	6.85	68.63
Q2 2024	89.00	5.50	6.68	66.33
Q3 2024	89.00	4.88	6.06	65.95
Q4 2024	89.00	3.61	4.79	66.72
Q1 2025	89.00	2.81	3.82	67.53
Q2 2025	89.00	2.67	2.50	66.24
Q3 2025	89.00	1.61	1.44	66.13

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	80.00	1.16	4.63	43.02
2019	80.00	2.88	3.12	45.33
2020	80.00	3.68	3.68	48.90
2021	80.00	3.42	3.42	52.40
2022	89.00	6.27	5.62	62.81
2023	89.00	6.79	6.79	66.98
2024	89.00	3.61	4.79	66.72

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	17.97	20.05	1.79
Q1 2023	22.46	24.96	2.37
Q2 2023	21.69	24.22	2.33
Q3 2023	29.96	29.62	2.78
Q4 2023	28.12	28.12	2.85
Q1 2024	24.57	24.57	2.45
Q2 2024	24.45	20.13	2.03
Q3 2024	23.58	18.99	1.74
Q4 2024	30.91	23.30	1.67
Q1 2025	34.06	25.09	1.42
Q2 2025	29.93	32.02	1.21
Q3 2025	48.91	54.84	1.19

Period	P/E	Recurring P/E	Price/book
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	17.97	20.05	1.79
2023	28.12	28.12	2.85
2024	30.91	23.30	1.67

Business Segments (Million)

Compared With The

Period	Land Rigs	Off-shore Rigs	Other
Q3 2021	387.71	159.57	0.46
Q4 2021	441.60	153.01	0.80
Q1 2022	436.17	161.07	1.29
Q2 2022	467.10	183.73	2.07
Q3 2022	486.24	213.80	1.79
Q4 2022	505.26	243.26	1.76
Q1 2023	478.67	299.42	1.19
Q2 2023	488.91	301.72	0.02
Q3 2023	500.85	418.55	0.18
Q4 2023	539.21	447.80	-
Q1 2024	513.60	453.07	-
Q2 2024	520.05	419.25	-
Q3 2024	563.41	299.78	-
Q4 2024	543.76	305.90	-
Q1 2025	661.37	249.71	-
Q2 2025	616.87	245.60	-
Q3 2025	585.00	250.44	-

Period	Land Rigs	Off-shore Rigs	Other
2019	2,129.16	679.91	5.21
2020	1,874.92	653.46	4.18
2021	1,643.42	552.53	3.01
2022	1,894.76	801.86	6.91
2023	2,007.64	1,467.49	1.39
2024	2,140.82	1,478.00	-

Analysts Estimates (Million)

Item	Profit (Expected)	Profit (Actual)	Change
Average	(10.39)	(9.41)

Estimates vs Actual (Million)

Item	Profit (Expected)	Profit (Actual)
UBS Saudi Arabia	(7.40)	(9.41)
Bank of America	(11.82)	(9.41)
Riyad Capital	(6.00)	(9.41)
GIB Capital	(20.00)	(9.41)
SNB Capital	(26.10)	(9.41)
AlJazira Capital	9.00	(9.41)

Financial Ratios

	Current
Market Cap (M Riyal)	8,183.56
Enterprise Value (EV) (M Riyal)	10,864.55
Shares Outstanding ((M))	89.00
EPS ( Riyal) (TTM)	1.61
Book Value (BV) ( Riyal)	66.13
Par Value ( Riyal)	10.00
Recurring P/E	63.99
P/E (TTM)	57.07
Price/book	1.39
Return on Average Assets (%) (TTM)	1.4
Return on Average Equity (%) (TTM)	2.4
EV/adj EBITDA	8.18
EV/Revenues	3.14

Arabian Drilling Co. (ARABIAN DRILLING)

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Arabian Drilling earns SAR 73.3M in 9M 2025, loses SAR 9.4M in Q3

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)

Revenue by Business Segment (Latest) 2025 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Arabian Drilling Co. (ARABIAN DRILLING)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

×

Arabian Drilling earns SAR 73.3M in 9M 2025, loses SAR 9.4M in Q3

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) Q3 2025

Revenue by Business Segment (Latest) 2025 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Arabian Drilling Co. (ARABIAN DRILLING)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)