National Corporation for Tourism & Hotels

NCTHStocksAbu Dhabi Securities ExchangeConsumer Discretionary

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (AED)

1-5

	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024
Operations
Operating Cash Flow	251.93M	58.39M	78.39M	78.39M	304.09M
Free Cash Flow	154.12M	10.91M	13.11M	13.11M	166.60M
Capital Expenditures	-97.81M	-47.48M	-65.28M	-65.28M	-137.50M
Investing & Financing
Investing Cash Flow	42.68M	-64.75M	10.59M	10.59M	-192.19M
Financing Cash Flow	-102.20M	-36.90M	-25.49M	-25.49M	-45.18M
Operating Activities
Operating Cash Flow	251.93M	58.39M	78.39M	78.39M	304.09M
Net Income	68.21M	13.13M	159.82M	159.82M	52.28M
Change in Accounts Payable	57.73M	-13.07M	-32.33M	-32.33M	72.01M
Change in Accounts Receivable	-12.86M	-38.91M	-33.75M	-33.75M	144.75M
Change in Inventory	-4.00M	-0.97M	0.83M	0.83M	-8.10M
Change in Other Net Operating Assets	12.68M	34.28M	14.80M	14.80M	-3.87M
Change in Unearned Revenue	28.45M	33.88M	-0.50M	-0.50M	12.24M
Change in Working Capital	82.01M	15.21M	-50.94M	-50.94M	217.04M
Other Operating Activities	102.56M	-15.09M	-71.00M	-71.00M	20.46M
Provision & Write-off of Bad Debts	1.01M	0.20M	0.07M	0.07M	0.45M
Depreciation & Amortization	5.36M	41.29M	41.15M	41.15M	18.70M
Other Amortization	666.00K	—	—	—	544.00K
Cash Interest Paid	13.70M	9.11M	11.21M	11.21M	1.76M
Cash Income Tax Paid	—	23.09M	2.84M	2.84M	0.00M
Miscellaneous Cash Flow Adjustments	—	—	—	—	-9.83M
Loss (Gain) on Equity Investments	-8.37M	1.88M	1.19M	1.19M	—
Investing Activities
Investing Cash Flow	42.68M	-64.75M	10.59M	10.59M	-192.19M
Capital Expenditures	-97.81M	-47.48M	-65.28M	-65.28M	-137.50M
Cash Acquisitions	—	—	83.26M	83.26M	—
Investment in Securities	134.72M	-19.37M	-14.83M	-14.83M	-61.70M
Other Investing Activities	5.56M	1.97M	7.46M	7.46M	7.46M
Sale (Purchase) of Intangibles	—	-31.00K	-52.00K	-52.00K	-558.00K
Sale of Property, Plant & Equipment	205.00K	170.00K	23.00K	23.00K	107.00K
Loss (Gain) From Sale of Assets	-201.00K	-169.00K	-23.00K	-23.00K	-65.00K
Loss (Gain) on Sale of Investments	0.68M	1.94M	-1.86M	-1.86M	-5.30M
Financing Activities
Financing Cash Flow	-102.20M	-36.90M	-25.49M	-25.49M	-45.18M
Total Debt Issued	32.47M	6.40M	139.83M	139.83M	-42.14M
Total Debt Repaid	-120.97M	-33.68M	-154.11M	-154.11M	-1.31M
Net Debt Issued (Repaid)	-88.50M	-27.29M	-14.27M	-14.27M	-43.45M
Other Financing Activities	-13.70M	-9.61M	-11.21M	-11.21M	-1.73M
Free Cash Flow & Returns
Free Cash Flow	154.12M	10.91M	13.11M	13.11M	166.60M
Free Cash Flow Growth	-7.5%	—	—	—	—
Free Cash Flow Margin	+23.8%	+2.3%	+2.6%	+2.5%	+46.5%
Free Cash Flow Per Share	0.07	0.01	0.01	0.01	0.13
Levered Free Cash Flow	124.42M	-6.18M	—	—	—
Unlevered Free Cash Flow	142.44M	-3.11M	—	—	—
Operating Cash Flow Growth	-17.2%	+17.6%	—	—	—
Net Cash Flow	192.40M	-43.26M	63.49M	63.49M	57.29M
Foreign Exchange Rate Adjustments	—	—	—	—	397.00K

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (AED)

1-5

	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024
Operations
Operating Cash Flow	251.93M	58.39M	78.39M	78.39M	304.09M
Free Cash Flow	154.12M	10.91M	13.11M	13.11M	166.60M
Capital Expenditures	-97.81M	-47.48M	-65.28M	-65.28M	-137.50M
Investing & Financing
Investing Cash Flow	42.68M	-64.75M	10.59M	10.59M	-192.19M
Financing Cash Flow	-102.20M	-36.90M	-25.49M	-25.49M	-45.18M
Operating Activities
Operating Cash Flow	251.93M	58.39M	78.39M	78.39M	304.09M
Net Income	68.21M	13.13M	159.82M	159.82M	52.28M
Change in Accounts Payable	57.73M	-13.07M	-32.33M	-32.33M	72.01M
Change in Accounts Receivable	-12.86M	-38.91M	-33.75M	-33.75M	144.75M
Change in Inventory	-4.00M	-0.97M	0.83M	0.83M	-8.10M
Change in Other Net Operating Assets	12.68M	34.28M	14.80M	14.80M	-3.87M
Change in Unearned Revenue	28.45M	33.88M	-0.50M	-0.50M	12.24M
Change in Working Capital	82.01M	15.21M	-50.94M	-50.94M	217.04M
Other Operating Activities	102.56M	-15.09M	-71.00M	-71.00M	20.46M
Provision & Write-off of Bad Debts	1.01M	0.20M	0.07M	0.07M	0.45M
Depreciation & Amortization	5.36M	41.29M	41.15M	41.15M	18.70M
Other Amortization	666.00K	—	—	—	544.00K
Cash Interest Paid	13.70M	9.11M	11.21M	11.21M	1.76M
Cash Income Tax Paid	—	23.09M	2.84M	2.84M	0.00M
Miscellaneous Cash Flow Adjustments	—	—	—	—	-9.83M
Loss (Gain) on Equity Investments	-8.37M	1.88M	1.19M	1.19M	—
Investing Activities
Investing Cash Flow	42.68M	-64.75M	10.59M	10.59M	-192.19M
Capital Expenditures	-97.81M	-47.48M	-65.28M	-65.28M	-137.50M
Cash Acquisitions	—	—	83.26M	83.26M	—
Investment in Securities	134.72M	-19.37M	-14.83M	-14.83M	-61.70M
Other Investing Activities	5.56M	1.97M	7.46M	7.46M	7.46M
Sale (Purchase) of Intangibles	—	-31.00K	-52.00K	-52.00K	-558.00K
Sale of Property, Plant & Equipment	205.00K	170.00K	23.00K	23.00K	107.00K
Loss (Gain) From Sale of Assets	-201.00K	-169.00K	-23.00K	-23.00K	-65.00K
Loss (Gain) on Sale of Investments	0.68M	1.94M	-1.86M	-1.86M	-5.30M
Financing Activities
Financing Cash Flow	-102.20M	-36.90M	-25.49M	-25.49M	-45.18M
Total Debt Issued	32.47M	6.40M	139.83M	139.83M	-42.14M
Total Debt Repaid	-120.97M	-33.68M	-154.11M	-154.11M	-1.31M
Net Debt Issued (Repaid)	-88.50M	-27.29M	-14.27M	-14.27M	-43.45M
Other Financing Activities	-13.70M	-9.61M	-11.21M	-11.21M	-1.73M
Free Cash Flow & Returns
Free Cash Flow	154.12M	10.91M	13.11M	13.11M	166.60M
Free Cash Flow Growth	-7.5%	—	—	—	—
Free Cash Flow Margin	+23.8%	+2.3%	+2.6%	+2.5%	+46.5%
Free Cash Flow Per Share	0.07	0.01	0.01	0.01	0.13
Levered Free Cash Flow	124.42M	-6.18M	—	—	—
Unlevered Free Cash Flow	142.44M	-3.11M	—	—	—
Operating Cash Flow Growth	-17.2%	+17.6%	—	—	—
Net Cash Flow	192.40M	-43.26M	63.49M	63.49M	57.29M
Foreign Exchange Rate Adjustments	—	—	—	—	397.00K