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
Operations
Operating Cash Flow	204.24M	136.31M	37.39M	257.95M	518.47M
Free Cash Flow	147.43M	124.51M	21.79M	251.23M	514.62M
Capital Expenditures	-56.81M	-11.80M	-15.60M	-6.72M	-3.85M
Investing & Financing
Investing Cash Flow	21.98M	-183.04M	68.64M	-267.86M	15.86M
Financing Cash Flow	-179.83M	-196.79M	-196.06M	-196.06M	-130.71M
Dividends Paid	-179.29M	-196.79M	-196.06M	-196.06M	-130.71M
Operating Activities
Operating Cash Flow	204.24M	136.31M	37.39M	257.95M	518.47M
Net Income	100.28M	159.83M	205.10M	227.10M	224.53M
Change in Accounts Payable	-37.12M	-62.97M	-48.76M	-9.79M	52.68M
Change in Accounts Receivable	2.30M	63.73M	91.65M	-38.39M	-24.95M
Change in Inventory	144.19M	-14.99M	-246.90M	12.80M	160.67M
Change in Working Capital	109.37M	-14.23M	-204.01M	-35.37M	188.40M
Other Operating Activities	-47.16M	-51.55M	-73.04M	-44.27M	-21.57M
Provision & Write-off of Bad Debts	11.26M	0.47M	0.41M	0.67M	0.08M
Depreciation & Amortization	34.17M	48.93M	112.53M	113.20M	114.97M
Loss (Gain) on Equity Investments	-1.60M	-1.09M	-3.60M	-3.38M	-1.83M
Asset Writedown & Restructuring Costs	—	—	—	—	13.88M
Investing Activities
Investing Cash Flow	21.98M	-183.04M	68.64M	-267.86M	15.86M
Capital Expenditures	-56.81M	-11.80M	-15.60M	-6.72M	-3.85M
Investment in Securities	42.46M	-227.51M	27.08M	-296.50M	-3.25M
Other Investing Activities	36.91M	49.84M	57.42M	35.36M	22.92M
Sale (Purchase) of Intangibles	-0.73M	-1.10M	-0.27M	—	—
Sale of Property, Plant & Equipment	0.15M	7.53M	—	—	0.04M
Loss (Gain) From Sale of Assets	-1.89M	-5.33M	—	—	-0.00M
Financing Activities
Financing Cash Flow	-179.83M	-196.79M	-196.06M	-196.06M	-130.71M
Common Dividends Paid	-179.29M	-196.79M	-196.06M	-196.06M	-130.71M
Long-Term Debt Repaid	-538.58K	—	—	—	—
Net Debt Issued (Repaid)	-538.58K	—	—	—	—
Free Cash Flow & Returns
Free Cash Flow	147.43M	124.51M	21.79M	251.23M	514.62M
Free Cash Flow Growth	+18.4%	+471.4%	-91.3%	-51.2%	+58.6%
Free Cash Flow Margin	+36.9%	+31.4%	+4.7%	+35.4%	+62.4%
Free Cash Flow Per Share	0.23	0.19	0.03	0.38	0.79
Levered Free Cash Flow	153.25M	118.47M	9.16M	225.73M	451.09M
Unlevered Free Cash Flow	153.58M	118.64M	9.16M	225.73M	451.09M
Operating Cash Flow Growth	+49.8%	+264.6%	-85.5%	-50.2%	+53.5%
Net Cash Flow	46.39M	-243.51M	-90.03M	-205.96M	403.63M

Income Statement Balance Sheet Cash Flow Ratios

Annual (QAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	204.24M	136.31M	37.39M	257.95M	518.47M
Free Cash Flow	147.43M	124.51M	21.79M	251.23M	514.62M
Capital Expenditures	-56.81M	-11.80M	-15.60M	-6.72M	-3.85M
Investing & Financing
Investing Cash Flow	21.98M	-183.04M	68.64M	-267.86M	15.86M
Financing Cash Flow	-179.83M	-196.79M	-196.06M	-196.06M	-130.71M
Dividends Paid	-179.29M	-196.79M	-196.06M	-196.06M	-130.71M
Operating Activities
Operating Cash Flow	204.24M	136.31M	37.39M	257.95M	518.47M
Net Income	100.28M	159.83M	205.10M	227.10M	224.53M
Change in Accounts Payable	-37.12M	-62.97M	-48.76M	-9.79M	52.68M
Change in Accounts Receivable	2.30M	63.73M	91.65M	-38.39M	-24.95M
Change in Inventory	144.19M	-14.99M	-246.90M	12.80M	160.67M
Change in Working Capital	109.37M	-14.23M	-204.01M	-35.37M	188.40M
Other Operating Activities	-47.16M	-51.55M	-73.04M	-44.27M	-21.57M
Provision & Write-off of Bad Debts	11.26M	0.47M	0.41M	0.67M	0.08M
Depreciation & Amortization	34.17M	48.93M	112.53M	113.20M	114.97M
Loss (Gain) on Equity Investments	-1.60M	-1.09M	-3.60M	-3.38M	-1.83M
Asset Writedown & Restructuring Costs	—	—	—	—	13.88M
Investing Activities
Investing Cash Flow	21.98M	-183.04M	68.64M	-267.86M	15.86M
Capital Expenditures	-56.81M	-11.80M	-15.60M	-6.72M	-3.85M
Investment in Securities	42.46M	-227.51M	27.08M	-296.50M	-3.25M
Other Investing Activities	36.91M	49.84M	57.42M	35.36M	22.92M
Sale (Purchase) of Intangibles	-0.73M	-1.10M	-0.27M	—	—
Sale of Property, Plant & Equipment	0.15M	7.53M	—	—	0.04M
Loss (Gain) From Sale of Assets	-1.89M	-5.33M	—	—	-0.00M
Financing Activities
Financing Cash Flow	-179.83M	-196.79M	-196.06M	-196.06M	-130.71M
Common Dividends Paid	-179.29M	-196.79M	-196.06M	-196.06M	-130.71M
Long-Term Debt Repaid	-538.58K	—	—	—	—
Net Debt Issued (Repaid)	-538.58K	—	—	—	—
Free Cash Flow & Returns
Free Cash Flow	147.43M	124.51M	21.79M	251.23M	514.62M
Free Cash Flow Growth	+18.4%	+471.4%	-91.3%	-51.2%	+58.6%
Free Cash Flow Margin	+36.9%	+31.4%	+4.7%	+35.4%	+62.4%
Free Cash Flow Per Share	0.23	0.19	0.03	0.38	0.79
Levered Free Cash Flow	153.25M	118.47M	9.16M	225.73M	451.09M
Unlevered Free Cash Flow	153.58M	118.64M	9.16M	225.73M	451.09M
Operating Cash Flow Growth	+49.8%	+264.6%	-85.5%	-50.2%	+53.5%
Net Cash Flow	46.39M	-243.51M	-90.03M	-205.96M	403.63M

Financials

Annual (QAR)

National Cement Co.

Annual (QAR)