Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	-2.98M	13.15M	47.61M	21.44M	17.64M
Free Cash Flow	-21.37M	4.91M	38.54M	9.81M	12.42M
Capital Expenditures	-18.39M	-8.24M	-9.07M	-11.63M	-5.23M
Investing & Financing
Investing Cash Flow	-17.72M	-17.73M	-16.67M	-3.67M	0.35M
Financing Cash Flow	22.27M	3.17M	-32.05M	-15.46M	-16.86M
Dividends Paid	-7.15M	-5.49M	-2.64M	-13.63M	-0.03M
Share Repurchase	—	-0.05M	—	-3.40M	—
Operating Activities
Operating Cash Flow	-2.98M	13.15M	47.61M	21.44M	17.64M
Net Income	19.71M	12.57M	7.03M	0.60M	26.78M
Change in Accounts Payable	2.24M	2.27M	1.28M	-2.48M	1.15M
Change in Accounts Receivable	-2.72M	-0.86M	2.15M	-1.40M	0.42M
Change in Other Net Operating Assets	1.97M	-0.25M	—	1.22M	-0.56M
Change in Working Capital	-13.98M	2.90M	37.32M	5.35M	7.52M
Other Operating Activities	9.31M	4.71M	7.03M	5.51M	4.82M
Provision & Write-off of Bad Debts	-1.51M	0.08M	-1.23M	1.89M	0.33M
Depreciation & Amortization	7.18M	7.88M	7.82M	7.65M	7.47M
Cash Interest Paid	4.15M	3.85M	4.84M	2.05M	1.51M
Loss (Gain) on Equity Investments	-830.94K	-330.54K	-612.04K	-745.90K	28.27K
Asset Writedown & Restructuring Costs	-0.61M	-1.54M	-0.57M	-0.64M	-1.61M
Investing Activities
Investing Cash Flow	-17.72M	-17.73M	-16.67M	-3.67M	0.35M
Capital Expenditures	-18.39M	-8.24M	-9.07M	-11.63M	-5.23M
Cash Acquisitions	—	—	-2.27M	—	—
Investment in Securities	1.79M	1.57M	2.30M	0.88M	-0.10M
Other Investing Activities	-0.78M	3.70M	-8.80M	6.12M	2.45M
Sale (Purchase) of Real Estate	-2.74M	-16.60M	-2.84M	-1.53M	1.75M
Sale of Property, Plant & Equipment	2.40M	1.83M	4.01M	2.49M	1.48M
Loss (Gain) From Sale of Assets	-0.26M	-0.39M	-1.82M	-0.73M	-1.47M
Loss (Gain) on Sale of Investments	-21.98M	-12.74M	-7.36M	2.57M	-25.31M
Financing Activities
Financing Cash Flow	22.27M	3.17M	-32.05M	-15.46M	-16.86M
Common Dividends Paid	-7.15M	-5.49M	-2.64M	-13.63M	-0.03M
Issuance of Common Stock	—	4.33M	—	—	—
Repurchase of Common Stock	—	-0.05M	—	-3.40M	—
Long-Term Debt Issued	1.21M	—	0.34M	0.33M	—
Short-Term Debt Issued	7.33M	—	2.31M	3.64M	—
Total Debt Issued	8.55M	—	2.65M	3.96M	—
Long-Term Debt Repaid	-0.02M	-1.68M	-3.03M	-1.69M	-2.54M
Short-Term Debt Repaid	—	-2.18M	—	—	-2.52M
Total Debt Repaid	-0.02M	-3.86M	-3.03M	-1.69M	-5.06M
Net Debt Issued (Repaid)	8.53M	-3.86M	-0.38M	2.28M	-5.06M
Other Financing Activities	20.89M	8.24M	-29.04M	-0.70M	-11.76M
Free Cash Flow & Returns
Free Cash Flow	-21.37M	4.91M	38.54M	9.81M	12.42M
Free Cash Flow Growth	—	-87.3%	+292.6%	-20.9%	—
Free Cash Flow Margin	-46.5%	+14.8%	+147.7%	+50.9%	+30.3%
Free Cash Flow Per Share	-0.04	0.01	0.07	0.02	0.02
Levered Free Cash Flow	37.60M	21.41M	-16.36M	2.96M	10.70M
Unlevered Free Cash Flow	40.29M	23.76M	-13.40M	4.62M	11.76M
Operating Cash Flow Growth	—	-72.4%	+122.0%	+21.6%	+198.5%
Net Cash Flow	1.60M	-1.48M	-1.21M	2.24M	1.13M
Foreign Exchange Rate Adjustments	29.28K	-62.41K	-95.99K	-80.35K	-11.33K

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	-2.98M	13.15M	47.61M	21.44M	17.64M
Free Cash Flow	-21.37M	4.91M	38.54M	9.81M	12.42M
Capital Expenditures	-18.39M	-8.24M	-9.07M	-11.63M	-5.23M
Investing & Financing
Investing Cash Flow	-17.72M	-17.73M	-16.67M	-3.67M	0.35M
Financing Cash Flow	22.27M	3.17M	-32.05M	-15.46M	-16.86M
Dividends Paid	-7.15M	-5.49M	-2.64M	-13.63M	-0.03M
Share Repurchase	—	-0.05M	—	-3.40M	—
Operating Activities
Operating Cash Flow	-2.98M	13.15M	47.61M	21.44M	17.64M
Net Income	19.71M	12.57M	7.03M	0.60M	26.78M
Change in Accounts Payable	2.24M	2.27M	1.28M	-2.48M	1.15M
Change in Accounts Receivable	-2.72M	-0.86M	2.15M	-1.40M	0.42M
Change in Other Net Operating Assets	1.97M	-0.25M	—	1.22M	-0.56M
Change in Working Capital	-13.98M	2.90M	37.32M	5.35M	7.52M
Other Operating Activities	9.31M	4.71M	7.03M	5.51M	4.82M
Provision & Write-off of Bad Debts	-1.51M	0.08M	-1.23M	1.89M	0.33M
Depreciation & Amortization	7.18M	7.88M	7.82M	7.65M	7.47M
Cash Interest Paid	4.15M	3.85M	4.84M	2.05M	1.51M
Loss (Gain) on Equity Investments	-830.94K	-330.54K	-612.04K	-745.90K	28.27K
Asset Writedown & Restructuring Costs	-0.61M	-1.54M	-0.57M	-0.64M	-1.61M
Investing Activities
Investing Cash Flow	-17.72M	-17.73M	-16.67M	-3.67M	0.35M
Capital Expenditures	-18.39M	-8.24M	-9.07M	-11.63M	-5.23M
Cash Acquisitions	—	—	-2.27M	—	—
Investment in Securities	1.79M	1.57M	2.30M	0.88M	-0.10M
Other Investing Activities	-0.78M	3.70M	-8.80M	6.12M	2.45M
Sale (Purchase) of Real Estate	-2.74M	-16.60M	-2.84M	-1.53M	1.75M
Sale of Property, Plant & Equipment	2.40M	1.83M	4.01M	2.49M	1.48M
Loss (Gain) From Sale of Assets	-0.26M	-0.39M	-1.82M	-0.73M	-1.47M
Loss (Gain) on Sale of Investments	-21.98M	-12.74M	-7.36M	2.57M	-25.31M
Financing Activities
Financing Cash Flow	22.27M	3.17M	-32.05M	-15.46M	-16.86M
Common Dividends Paid	-7.15M	-5.49M	-2.64M	-13.63M	-0.03M
Issuance of Common Stock	—	4.33M	—	—	—
Repurchase of Common Stock	—	-0.05M	—	-3.40M	—
Long-Term Debt Issued	1.21M	—	0.34M	0.33M	—
Short-Term Debt Issued	7.33M	—	2.31M	3.64M	—
Total Debt Issued	8.55M	—	2.65M	3.96M	—
Long-Term Debt Repaid	-0.02M	-1.68M	-3.03M	-1.69M	-2.54M
Short-Term Debt Repaid	—	-2.18M	—	—	-2.52M
Total Debt Repaid	-0.02M	-3.86M	-3.03M	-1.69M	-5.06M
Net Debt Issued (Repaid)	8.53M	-3.86M	-0.38M	2.28M	-5.06M
Other Financing Activities	20.89M	8.24M	-29.04M	-0.70M	-11.76M
Free Cash Flow & Returns
Free Cash Flow	-21.37M	4.91M	38.54M	9.81M	12.42M
Free Cash Flow Growth	—	-87.3%	+292.6%	-20.9%	—
Free Cash Flow Margin	-46.5%	+14.8%	+147.7%	+50.9%	+30.3%
Free Cash Flow Per Share	-0.04	0.01	0.07	0.02	0.02
Levered Free Cash Flow	37.60M	21.41M	-16.36M	2.96M	10.70M
Unlevered Free Cash Flow	40.29M	23.76M	-13.40M	4.62M	11.76M
Operating Cash Flow Growth	—	-72.4%	+122.0%	+21.6%	+198.5%
Net Cash Flow	1.60M	-1.48M	-1.21M	2.24M	1.13M
Foreign Exchange Rate Adjustments	29.28K	-62.41K	-95.99K	-80.35K	-11.33K

Financials

Annual (KWD)

Kuwait Investment Company

Annual (KWD)