Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (QAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	4.49B	4.15B	3.54B	3.03B	3.09B
Cost of Revenue	3.51B	3.22B	2.88B	2.42B	2.75B
Gross Profit	982.68M	929.20M	658.29M	615.28M	345.46M
SG&A	250.41M	196.90M	191.14M	164.65M	195.87M
Operating Expenses	218.15M	187.63M	159.01M	155.62M	210.89M
Operating Income	764.53M	741.58M	499.28M	459.67M	134.57M
Interest Income	99.82M	159.38M	131.82M	50.35M	39.93M
Interest Expense	-270.34M	-242.06M	-263.42M	-198.88M	-129.07M
Other Income/Expense	20.94M	21.77M	-2.92M	20.76M	—
Pretax Income	702.36M	729.20M	393.71M	309.70M	54.04M
Income Tax	24.41M	18.00M	3.36M	8.23M	—
Net Income	677.96M	711.00M	366.28M	302.31M	54.18M
EBITDA	1.27B	1.18B	0.86B	0.81B	0.48B
EBIT	764.53M	741.58M	499.28M	459.67M	134.57M
EPS (Basic)	0.36	0.38	0.20	0.16	0.03
EPS (Diluted)	0.36	0.38	0.20	0.16	0.03
DPS	0.10	0.17	0.15	0.10	—
Margins & Efficiency
Gross Margin %	+21.9%	+22.4%	+18.6%	+20.3%	+11.2%
EBITDA Margin %	+28.3%	+28.4%	+24.3%	+26.6%	+15.7%
Net Margin %	+15.1%	+17.1%	+10.4%	+10.0%	+1.8%
Revenue & Income
Revenue	4.49B	4.15B	3.54B	3.03B	3.09B
Revenue Growth (YoY)	+8.2%	+17.4%	+16.6%	-1.9%	+3.1%
Interest & Investment Income	99.82M	159.38M	131.82M	50.35M	39.93M
Earnings From Equity Investments	58.78M	66.66M	24.80M	17.58M	-2.52M
Gain (Loss) on Sale of Investments	34.87M	15.81M	22.05M	-15.83M	34.31M
Currency Exchange Gain (Loss)	-6.23M	-40.25M	-17.90M	-23.95M	-24.78M
Expenses & Provisions
Advertising Expenses	1.61M	2.09M	3.45M	3.07M	1.81M
Cost of Revenue	3.51B	3.22B	2.88B	2.42B	2.75B
Selling, General & Admin	250.41M	196.90M	191.14M	164.65M	195.87M
Operating Expenses	218.15M	187.63M	159.01M	155.62M	210.89M
Other Operating Expenses	-9.89M	-9.28M	-33.59M	-11.79M	-12.45M
Interest Expense	-270.34M	-242.06M	-263.42M	-198.88M	-129.07M
Other Non Operating Income (Expenses)	20.94M	21.77M	-2.92M	20.76M	—
D&A For EBITDA	506.02M	439.12M	361.60M	347.47M	349.62M
Profitability & Returns
Gross Profit	982.68M	929.20M	658.29M	615.28M	345.46M
Gross Margin	+21.9%	+22.4%	+18.6%	+20.3%	+11.2%
EBIT	764.53M	741.58M	499.28M	459.67M	134.57M
EBIT Margin	+17.0%	+17.9%	+14.1%	+15.2%	+4.4%
EBITDA	1.27B	1.18B	0.86B	0.81B	0.48B
EBITDA Margin	+28.3%	+28.4%	+24.3%	+26.6%	+15.7%
EBT Excluding Unusual Items	667.50M	707.07M	371.66M	325.53M	18.14M
Pretax Income	702.36M	729.20M	393.71M	309.70M	54.04M
Operating Income	764.53M	741.58M	499.28M	459.67M	134.57M
Operating Margin	+17.0%	+17.9%	+14.1%	+15.2%	+4.4%
Profit Margin	+15.1%	+17.1%	+10.4%	+10.0%	+1.8%
Net Income	677.96M	711.00M	366.28M	302.31M	54.18M
Net Income to Common	677.96M	711.00M	366.28M	302.31M	54.18M
Net Income to Company	677.96M	711.00M	366.11M	302.20M	54.04M
Net Income Growth	-4.6%	+94.1%	+21.2%	+458.0%	—
Earnings From Continuing Ops.	677.96M	711.21M	390.35M	301.47M	54.04M
Earnings From Discontinued Ops.	—	-0.21M	-24.24M	0.73M	—
Minority Interest in Earnings	—	—	170.00K	114.00K	147.00K
Income Tax Expense	24.41M	18.00M	3.36M	8.23M	—
Effective Tax Rate	+3.5%	+2.5%	+0.9%	+2.7%	—
Per Share & Capital
EPS (Basic)	0.36	0.38	0.20	0.16	0.03
EPS (Diluted)	0.36	0.38	0.20	0.16	0.03
EPS Growth	-4.6%	+94.1%	+21.2%	+458.0%	—
Dividend Per Share	0.10	0.17	0.15	0.10	—
Shares Outstanding (Basic)	1.86B	1.86B	1.86B	1.86B	1.86B
Shares Outstanding (Diluted)	1.86B	1.86B	1.86B	1.86B	1.86B
Dividend Growth	-41.2%	+13.3%	+50.0%	—	—
Free Cash Flow	654.51M	-735.13M	617.30M	551.63M	320.65M
Free Cash Flow Margin	+14.6%	-17.7%	+17.4%	+18.2%	+10.4%
Free Cash Flow Per Share	0.35	-0.40	0.33	0.30	0.17
Payout Ratio	+47.1%	+39.2%	+50.7%	+0.6%	+45.8%
Supplemental
Other Unusual Items	—	6.33M	—	—	1.59M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (QAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	4.49B	4.15B	3.54B	3.03B	3.09B
Cost of Revenue	3.51B	3.22B	2.88B	2.42B	2.75B
Gross Profit	982.68M	929.20M	658.29M	615.28M	345.46M
SG&A	250.41M	196.90M	191.14M	164.65M	195.87M
Operating Expenses	218.15M	187.63M	159.01M	155.62M	210.89M
Operating Income	764.53M	741.58M	499.28M	459.67M	134.57M
Interest Income	99.82M	159.38M	131.82M	50.35M	39.93M
Interest Expense	-270.34M	-242.06M	-263.42M	-198.88M	-129.07M
Other Income/Expense	20.94M	21.77M	-2.92M	20.76M	—
Pretax Income	702.36M	729.20M	393.71M	309.70M	54.04M
Income Tax	24.41M	18.00M	3.36M	8.23M	—
Net Income	677.96M	711.00M	366.28M	302.31M	54.18M
EBITDA	1.27B	1.18B	0.86B	0.81B	0.48B
EBIT	764.53M	741.58M	499.28M	459.67M	134.57M
EPS (Basic)	0.36	0.38	0.20	0.16	0.03
EPS (Diluted)	0.36	0.38	0.20	0.16	0.03
DPS	0.10	0.17	0.15	0.10	—
Margins & Efficiency
Gross Margin %	+21.9%	+22.4%	+18.6%	+20.3%	+11.2%
EBITDA Margin %	+28.3%	+28.4%	+24.3%	+26.6%	+15.7%
Net Margin %	+15.1%	+17.1%	+10.4%	+10.0%	+1.8%
Revenue & Income
Revenue	4.49B	4.15B	3.54B	3.03B	3.09B
Revenue Growth (YoY)	+8.2%	+17.4%	+16.6%	-1.9%	+3.1%
Interest & Investment Income	99.82M	159.38M	131.82M	50.35M	39.93M
Earnings From Equity Investments	58.78M	66.66M	24.80M	17.58M	-2.52M
Gain (Loss) on Sale of Investments	34.87M	15.81M	22.05M	-15.83M	34.31M
Currency Exchange Gain (Loss)	-6.23M	-40.25M	-17.90M	-23.95M	-24.78M
Expenses & Provisions
Advertising Expenses	1.61M	2.09M	3.45M	3.07M	1.81M
Cost of Revenue	3.51B	3.22B	2.88B	2.42B	2.75B
Selling, General & Admin	250.41M	196.90M	191.14M	164.65M	195.87M
Operating Expenses	218.15M	187.63M	159.01M	155.62M	210.89M
Other Operating Expenses	-9.89M	-9.28M	-33.59M	-11.79M	-12.45M
Interest Expense	-270.34M	-242.06M	-263.42M	-198.88M	-129.07M
Other Non Operating Income (Expenses)	20.94M	21.77M	-2.92M	20.76M	—
D&A For EBITDA	506.02M	439.12M	361.60M	347.47M	349.62M
Profitability & Returns
Gross Profit	982.68M	929.20M	658.29M	615.28M	345.46M
Gross Margin	+21.9%	+22.4%	+18.6%	+20.3%	+11.2%
EBIT	764.53M	741.58M	499.28M	459.67M	134.57M
EBIT Margin	+17.0%	+17.9%	+14.1%	+15.2%	+4.4%
EBITDA	1.27B	1.18B	0.86B	0.81B	0.48B
EBITDA Margin	+28.3%	+28.4%	+24.3%	+26.6%	+15.7%
EBT Excluding Unusual Items	667.50M	707.07M	371.66M	325.53M	18.14M
Pretax Income	702.36M	729.20M	393.71M	309.70M	54.04M
Operating Income	764.53M	741.58M	499.28M	459.67M	134.57M
Operating Margin	+17.0%	+17.9%	+14.1%	+15.2%	+4.4%
Profit Margin	+15.1%	+17.1%	+10.4%	+10.0%	+1.8%
Net Income	677.96M	711.00M	366.28M	302.31M	54.18M
Net Income to Common	677.96M	711.00M	366.28M	302.31M	54.18M
Net Income to Company	677.96M	711.00M	366.11M	302.20M	54.04M
Net Income Growth	-4.6%	+94.1%	+21.2%	+458.0%	—
Earnings From Continuing Ops.	677.96M	711.21M	390.35M	301.47M	54.04M
Earnings From Discontinued Ops.	—	-0.21M	-24.24M	0.73M	—
Minority Interest in Earnings	—	—	170.00K	114.00K	147.00K
Income Tax Expense	24.41M	18.00M	3.36M	8.23M	—
Effective Tax Rate	+3.5%	+2.5%	+0.9%	+2.7%	—
Per Share & Capital
EPS (Basic)	0.36	0.38	0.20	0.16	0.03
EPS (Diluted)	0.36	0.38	0.20	0.16	0.03
EPS Growth	-4.6%	+94.1%	+21.2%	+458.0%	—
Dividend Per Share	0.10	0.17	0.15	0.10	—
Shares Outstanding (Basic)	1.86B	1.86B	1.86B	1.86B	1.86B
Shares Outstanding (Diluted)	1.86B	1.86B	1.86B	1.86B	1.86B
Dividend Growth	-41.2%	+13.3%	+50.0%	—	—
Free Cash Flow	654.51M	-735.13M	617.30M	551.63M	320.65M
Free Cash Flow Margin	+14.6%	-17.7%	+17.4%	+18.2%	+10.4%
Free Cash Flow Per Share	0.35	-0.40	0.33	0.30	0.17
Payout Ratio	+47.1%	+39.2%	+50.7%	+0.6%	+45.8%
Supplemental
Other Unusual Items	—	6.33M	—	—	1.59M

Financials

Annual (QAR)

Gulf International

Annual (QAR)