Financial Results : Saudi Kayan’s 2025 net loss reaches SAR 2.29B, Q4 at SAR 685.5M

Saudi Kayan’s 2025 net loss reaches SAR 2.29B, Q4 at SAR 685.5M

25/02/2026 Argaam Exclusive

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Saudi Kayan Petrochemical Co. widened 2025 net loss to SAR 2.29 billion, from SAR 1.8 billion a year earlier.



Financials (M)

Item 2024 2025 Change‬
Revenues 8,726.03 8,458.85 (3.1 %)
Gross Income (642.46) (893.86) (39.1 %)
Operating Income (1133.73) (1643.11) (44.9 %)
Net Income (1803.72) (2293.88) (27.2 %)
Average Shares 1,500.00 1,500.00 -
Earnings Per Share before unusual items (Riyals) (1.38) (1.58) (14.7 %)
EPS (Riyal) (1.20) (1.53) (27.2 %)

The company said revenues dropped, compared to 2024 due to a decline in average selling prices, despite improved operational efficiency due to higher sales volumes and better plant reliability.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 2,245.31 2,012.96 (10.3 %)
Gross Income (396.77) (304.74) 23.2 %
Operating Income (522.59) (525.36) (0.5 %)
Net Income (685.61) (685.49) 0.0 %
Average Shares 1,500.00 1,500.00 -
Earnings Per Share before unusual items (Riyal) (0.50) (0.46) 9.4 %
EPS (Riyal) (0.46) (0.46) 0.0 %

Q4 2025 net loss stood at SAR 685.5 million, compared to SAR 685.6 million in the prior-year period.

 

On a sequential basis, Saudi Kayan deepened losses from SAR 336.2 million in Q3 2025.

 

Total shareholders’ equity (no minority interest) amounted to SAR 9.19 billion as of Dec. 31, 2025, compared to SAR 11.5 billion in a year earlier period.

 

Accumulated losses reached SAR 6.52 billion by Dec. 31, 2025, accounting for 43.47% of capital.

 

Attached Documents

 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 1,692.59 (3.4 %) 185.21 150.3 % 11.55 102.6 %
Q2 2016 2,154.63 0.3 % 508.21 97.1 % 311.41 107.6 %
Q3 2016 2,313.08 5.4 % 579.95 115.4 % 385.77 120.6 %
Q4 2016 2,448.52 30.3 % 531.95 244.5 % 350.46 173.7 %
Q1 2017 2,667.18 57.6 % 726.70 292.4 % 554.92 4703.2 %
Q2 2017 2,308.72 7.2 % 582.69 14.7 % 438.87 40.9 %
Q3 2017 2,703.09 16.9 % 780.94 34.7 % 624.02 61.8 %
Q4 2017 2,304.93 (5.9 %) 155.60 (70.7 %) 11.62 (96.7 %)
Q1 2018 2,727.33 2.3 % 861.63 18.6 % 721.07 29.9 %
Q2 2018 3,524.25 52.6 % 1,300.66 123.2 % 1,116.46 154.4 %
Q3 2018 3,376.06 24.9 % 929.49 19.0 % 761.53 22.0 %
Q4 2018 2,635.52 14.3 % 273.55 75.8 % 61.53 429.5 %
Q1 2019 2,544.34 (6.7 %) 265.99 (69.1 %) 98.49 (86.3 %)
Q2 2019 2,429.18 (31.1 %) 196.70 (84.9 %) 39.59 (96.5 %)
Q3 2019 2,303.21 (31.8 %) 379.59 (59.2 %) 201.23 (73.6 %)
Q4 2019 2,259.67 (14.3 %) 229.92 (15.9 %) 39.70 (35.5 %)
Q1 2020 1,887.93 (25.8 %) (220.77) (183.0 %) (350.93) (456.3 %)
Q2 2020 1,536.91 (36.7 %) (70.76) (136.0 %) (215.41) (644.1 %)
Q3 2020 2,105.54 (8.6 %) 236.53 (37.7 %) 79.72 (60.4 %)
Q4 2020 2,476.95 9.6 % 480.88 109.1 % 299.91 655.5 %
Q1 2021 2,683.33 42.1 % 757.71 443.2 % 593.12 269.0 %
Q2 2021 2,973.71 93.5 % 1,048.75 1582.2 % 901.23 518.4 %
Q3 2021 3,434.07 63.1 % 983.04 315.6 % 788.81 889.4 %
Q4 2021 3,565.10 43.9 % 768.16 59.7 % 540.98 80.4 %
Q1 2022 3,137.89 16.9 % 468.79 (38.1 %) 304.33 (48.7 %)
Q2 2022 3,406.82 14.6 % 435.45 (58.5 %) 246.20 (72.7 %)
Q3 2022 2,596.32 (24.4 %) (488.69) (149.7 %) (675.56) (185.6 %)
Q4 2022 2,016.98 (43.4 %) (512.39) (166.7 %) (711.03) (231.4 %)
Q1 2023 1,682.49 (46.4 %) (339.36) (172.4 %) (496.29) (263.1 %)
Q2 2023 2,209.30 (35.2 %) (111.04) (125.5 %) (262.89) (206.8 %)
Q3 2023 2,137.26 (17.7 %) (120.62) 75.3 % (274.06) 59.4 %
Q4 2023 2,141.60 6.2 % (271.02) 47.1 % (436.89) 38.6 %
Q1 2024 1,975.84 17.4 % (274.82) 19.0 % (442.00) 10.9 %
Q2 2024 2,106.24 (4.7 %) (34.10) 69.3 % (203.60) 22.6 %
Q3 2024 2,398.63 12.2 % 63.23 152.4 % (125.29) 54.3 %
Q4 2024 2,245.31 4.8 % (396.77) (46.4 %) (522.59) (19.6 %)
Q1 2025 2,061.79 4.4 % (388.65) (41.4 %) (583.58) (32.0 %)
Q2 2025 2,231.29 5.9 % (112.39) (229.6 %) (317.00) (55.7 %)
Q3 2025 2,152.81 (10.2 %) (88.08) (239.3 %) (278.21) (122.0 %)
Q4 2025 2,012.96 (10.3 %) (304.74) 23.2 % (525.36) (0.5 %)
2025 8,458.85 (3.1 %) (893.86) (39.1 %) (1643.11) (44.9 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2016 (194.99) 67.0 % (0.13) (22.64) (172.35) (0.11)
Q2 2016 97.31 825.1 % 0.06 (6.23) 103.54 0.07
Q3 2016 158.16 1245.6 % 0.11 - 158.16 0.11
Q4 2016 91.58 114.7 % 0.06 - 91.58 0.06
Q1 2017 265.46 236.1 % 0.18 (68.78) 334.24 0.22
Q2 2017 242.01 148.7 % 0.16 (1.75) 243.75 0.16
Q3 2017 381.03 140.9 % 0.25 (2.16) 383.19 0.26
Q4 2017 (220.32) (340.6 %) (0.15) (4.13) (216.20) (0.14)
Q1 2018 462.58 74.3 % 0.31 (23.51) 486.09 0.32
Q2 2018 878.66 263.1 % 0.59 (1.33) 879.99 0.59
Q3 2018 471.91 23.8 % 0.31 - 471.91 0.31
Q4 2018 (110.90) 49.7 % (0.07) - (110.90) (0.07)
Q1 2019 (197.49) (142.7 %) (0.13) - (197.49) (0.13)
Q2 2019 (273.13) (131.1 %) (0.18) - (273.13) (0.18)
Q3 2019 1.26 (99.7 %) 0.00 - 1.26 0.00
Q4 2019 (167.41) (51.0 %) (0.11) - (167.41) (0.11)
Q1 2020 (516.79) (161.7 %) (0.34) - (516.79) (0.34)
Q2 2020 (398.19) (45.8 %) (0.27) - (398.19) (0.27)
Q3 2020 (28.16) (2342.1 %) (0.02) - (28.16) (0.02)
Q4 2020 158.42 194.6 % 0.11 (34.93) 193.35 0.13
Q1 2021 492.89 195.4 % 0.33 - 492.89 0.33
Q2 2021 781.00 296.1 % 0.52 - 781.00 0.52
Q3 2021 667.45 2470.1 % 0.44 - 667.45 0.44
Q4 2021 449.28 183.6 % 0.30 - 449.28 0.30
Q1 2022 209.38 (57.5 %) 0.14 - 209.38 0.14
Q2 2022 150.13 (80.8 %) 0.10 - 150.13 0.10
Q3 2022 (812.27) (221.7 %) (0.54) - (812.27) (0.54)
Q4 2022 (791.12) (276.1 %) (0.53) - (791.12) (0.53)
Q1 2023 (673.27) (421.6 %) (0.45) - (673.27) (0.45)
Q2 2023 (392.13) (361.2 %) (0.26) 17.00 (409.13) (0.27)
Q3 2023 (448.98) 44.7 % (0.30) - (448.98) (0.30)
Q4 2023 (622.10) 21.4 % (0.41) - (622.10) (0.41)
Q1 2024 (571.86) 15.1 % (0.38) 46.70 (618.56) (0.41)
Q2 2024 (250.09) 36.2 % (0.17) 141.31 (391.40) (0.26)
Q3 2024 (296.16) 34.0 % (0.20) 1.73 (297.88) (0.20)
Q4 2024 (685.61) (10.2 %) (0.46) 71.06 (756.66) (0.50)
Q1 2025 (775.78) (35.7 %) (0.52) (32.60) (743.18) (0.50)
Q2 2025 (496.35) (98.5 %) (0.33) - (496.35) (0.33)
Q3 2025 (336.25) (13.5 %) (0.22) 106.90 (443.15) (0.30)
Q4 2025 (685.49) 0.0 % (0.46) - (685.49) (0.46)
2025 (2293.88) (27.2 %) (1.53) 74.30 (2368.18) (1.58)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2016 4.35 % 28.35 % (10.41 %)
Q2 2016 7.50 % 29.78 % (8.92 %)
Q3 2016 11.26 % 31.82 % (6.65 %)
Q4 2016 20.97 % 39.26 % 2.10 %
Q1 2017 24.49 % 41.16 % 7.17 %
Q2 2017 24.87 % 41.90 % 8.50 %
Q3 2017 25.89 % 42.76 % 10.39 %
Q4 2017 22.50 % 39.48 % 7.46 %
Q1 2018 23.70 % 40.57 % 8.93 %
Q2 2018 27.52 % 42.11 % 13.62 %
Q3 2018 27.21 % 40.68 % 13.59 %
Q4 2018 27.44 % 40.23 % 14.08 %
Q1 2019 22.93 % 35.96 % 8.64 %
Q2 2019 15.16 % 29.92 % (1.00 %)
Q3 2019 11.26 % 27.64 % (5.85 %)
Q4 2019 11.24 % 28.50 % (6.68 %)
Q1 2020 6.59 % 25.47 % (10.77 %)
Q2 2020 3.98 % 24.94 % (13.54 %)
Q3 2020 2.25 % 23.88 % (14.26 %)
Q4 2020 5.32 % 27.22 % (9.36 %)
Q1 2021 15.95 % 35.84 % 2.95 %
Q2 2021 24.65 % 41.94 % 14.05 %
Q3 2021 28.27 % 43.47 % 18.45 %
Q4 2021 28.11 % 41.44 % 18.89 %
Q1 2022 24.93 % 37.69 % 16.07 %
Q2 2022 19.61 % 31.67 % 10.90 %
Q3 2022 9.32 % 22.27 % (0.03 %)
Q4 2022 (0.87 %) 14.02 % (11.15 %)
Q1 2023 (9.33 %) 7.73 % (21.92 %)
Q2 2023 (17.07 %) 2.86 % (31.58 %)
Q3 2023 (13.47 %) 8.64 % (28.87 %)
Q4 2023 (10.31 %) 12.11 % (26.36 %)
Q1 2024 (9.19 %) 12.75 % (24.80 %)
Q2 2024 (8.38 %) 13.75 % (24.89 %)
Q3 2024 (5.99 %) 14.59 % (22.38 %)
Q4 2024 (7.36 %) 13.26 % (23.66 %)
2024 (7.36 %) 15.09 % (23.66 %)
Q1 2025 (8.58 %) 11.36 % (24.84 %)
Q2 2025 (9.34 %) 9.81 % (25.67 %)
Q3 2025 (11.34 %) 8.19 % (28.07 %)
Q4 2025 (10.57 %) - (28.00 %)
2025 (10.57 %) - (28.00 %)


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 1,500.00 (0.56) (0.55) 8.58
Q2 2016 1,500.00 (0.49) (0.47) 8.45
Q3 2016 1,500.00 (0.38) (0.36) 8.56
Q4 2016 1,500.00 0.10 0.12 8.83
Q1 2017 1,500.00 0.41 0.46 9.01
Q2 2017 1,500.00 0.50 0.55 9.17
Q3 2017 1,500.00 0.65 0.70 9.42
Q4 2017 1,500.00 0.45 0.50 9.27
Q1 2018 1,500.00 0.58 0.60 9.60
Q2 2018 1,500.00 1.00 1.02 10.18
Q3 2018 1,500.00 1.06 1.08 10.50
Q4 2018 1,500.00 1.13 1.15 10.47
Q1 2019 1,500.00 0.69 0.70 10.32
Q2 2019 1,500.00 (0.07) (0.07) 10.13
Q3 2019 1,500.00 (0.39) (0.39) 10.08
Q4 2019 1,500.00 (0.42) (0.42) 9.97
Q1 2020 1,500.00 (0.64) (0.64) 9.62
Q2 2020 1,500.00 (0.72) (0.72) 9.33
Q3 2020 1,500.00 (0.74) (0.74) 9.30
Q4 2020 1,500.00 (0.52) (0.50) 9.34
Q1 2021 1,500.00 0.15 0.17 9.71
Q2 2021 1,500.00 0.94 0.96 10.21
Q3 2021 1,500.00 1.40 1.42 10.65
Q4 2021 1,500.00 1.59 1.59 10.98
Q1 2022 1,500.00 1.40 1.40 11.18
Q2 2022 1,500.00 0.98 0.98 11.36
Q3 2022 1,500.00 0.00 0.00 10.89
Q4 2022 1,500.00 (0.83) (0.83) 10.32
Q1 2023 1,500.00 (1.42) (1.42) 9.86
Q2 2023 1,500.00 (1.78) (1.79) 9.61
Q3 2023 1,500.00 (1.54) (1.55) 9.35
Q4 2023 1,500.00 (1.42) (1.44) 8.86
Q1 2024 1,500.00 (1.36) (1.40) 8.50
Q2 2024 1,500.00 (1.26) (1.39) 8.34
Q3 2024 1,500.00 (1.16) (1.29) 8.10
Q4 2024 1,500.00 (1.20) (1.38) 7.67
Q1 2025 1,500.00 (1.34) (1.46) 7.15
Q2 2025 1,500.00 (1.50) (1.53) 6.82
Q3 2025 1,500.00 (1.53) (1.63) 6.59
Q4 2025 1,500.00 (1.53) (1.58) 6.12

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2016 NEG NEG 0.59
Q2 2016 NEG NEG 0.77
Q3 2016 NEG NEG 0.63
Q4 2016 87.20 73.29 1.00
Q1 2017 19.42 17.30 0.88
Q2 2017 17.45 15.97 0.96
Q3 2017 13.82 12.87 0.96
Q4 2017 23.98 21.50 1.15
Q1 2018 23.71 22.88 1.43
Q2 2018 15.76 15.44 1.55
Q3 2018 15.90 15.61 1.61
Q4 2018 11.63 11.46 1.26
Q1 2019 20.24 20.21 1.36
Q2 2019 NEG NEG 1.21
Q3 2019 NEG NEG 1.01
Q4 2019 NEG NEG 1.11
Q1 2020 NEG NEG 0.75
Q2 2020 NEG NEG 0.88
Q3 2020 NEG NEG 1.26
Q4 2020 NEG NEG 1.53
Q1 2021 More than 100 92.00 1.64
Q2 2021 19.29 18.82 1.77
Q3 2021 14.66 14.42 1.93
Q4 2021 10.68 10.68 1.55
Q1 2022 16.09 16.09 2.02
Q2 2022 16.03 16.03 1.39
Q3 2022 NEG NEG 1.26
Q4 2022 NEG NEG 1.32
Q1 2023 NEG NEG 1.23
Q2 2023 NEG NEG 1.44
Q3 2023 NEG NEG 1.34
Q4 2023 NEG NEG 1.24
Q1 2024 NEG NEG 1.07
Q2 2024 NEG NEG 0.97
Q3 2024 NEG NEG 1.04
Q4 2024 NEG NEG 0.92
Q1 2025 NEG NEG 0.86
Q2 2025 NEG NEG 0.76
Q3 2025 NEG NEG 0.86
Q4 2025 NEG NEG 0.77

Analysts Estimates (Million)

Item Profit (Expected) Profit (Actual) Change
Average (496.50) (685.49)

Estimates vs Actual (Million)

Item Profit (Expected) Profit (Actual) Change‬
Riyad Capital (561.00) (685.49)
SNB Capital (514.00) (685.49)
AlJazira Capital (472.00) (685.49)
GIB Capital (439.00) (685.49)


Financial Ratios
Current
Market Cap (M Riyal) 7,215.01
Enterprise Value (EV) (M Riyal) 15,707.90
Shares Outstanding ((M)) 1,500.00
EPS ( Riyal) (TTM) (1.53)
Book Value (BV) ( Riyal) 6.12
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/book 0.79
Return on Average Assets (%) (TTM) (9.46 )
Return on Average Equity (%) (TTM) (22.18 )
EV/adj EBITDA -
EV/Revenues 1.86
more

Share Price

Saudi Kayan Petrochemical Co.
4.81
(0.07) (1.43 %)

Saudi Kayan Petrochemical Co. (SAUDI KAYAN)

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