Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	45.96M	36.11M	30.66M	31.76M	22.15M
Interest Expense	-12.55M	-12.78M	-10.78M	-8.03M	-5.22M
Pretax Income	24.14M	16.23M	12.89M	7.65M	7.25M
Income Tax	793.80K	744.33K	633.66K	107.71K	116.51K
Net Income	15.07M	13.41M	11.29M	7.27M	6.25M
Rental Revenue	39.42M	34.86M	28.90M	27.62M	21.43M
Property Expenses	15.10M	12.27M	8.19M	7.64M	3.40M
Operating Income	24.71M	19.59M	19.30M	20.20M	14.62M
EPS (Basic)	0.01	0.01	0.01	0.01	0.01
EPS (Diluted)	0.01	0.01	0.01	0.01	0.01
DPS	—	—	0.00	0.00	0.00
Margins & Efficiency
Net Margin %	+32.8%	+37.1%	+36.8%	+22.9%	+28.2%
Revenue & Income
Revenue Growth (YoY)	+27.3%	+17.8%	-3.5%	+43.4%	-2.1%
Revenue RE	45.96M	36.11M	30.66M	31.76M	22.15M
Rental Revenue	39.42M	34.86M	28.90M	27.62M	21.43M
Other Revenue RE	2.93M	-1.54M	0.79M	3.92M	0.85M
Gain Assets RE	—	—	10.96M	-0.02M	1.73M
Gain Investments Rev Real Estate	3.18M	2.41M	0.61M	-0.20M	-0.38M
Expenses & Provisions
SG&A RE	5.14M	3.56M	3.03M	2.90M	2.16M
Total Operating Expenses RE	21.26M	16.52M	11.36M	11.56M	7.53M
Interest Expense RE	-12.55M	-12.78M	-10.78M	-8.03M	-5.22M
Other Non Oper Exp Suppl RE	-34.43K	-111.21K	-141.07K	-197.90K	-226.59K
Property Expenses	15.10M	12.27M	8.19M	7.64M	3.40M
Asset Writedown	-0.29M	9.53M	-6.44M	-4.30M	-3.66M
D&A For EBITDA	765.18K	749.89K	229.24K	32.58K	45.67K
Profitability & Returns
EBIT	24.71M	19.59M	19.30M	20.20M	14.62M
EBIT Margin	+53.8%	+54.2%	+62.9%	+63.6%	+66.0%
EBITDA	25.47M	20.34M	19.53M	20.23M	14.67M
EBITDA Margin	+55.4%	+56.3%	+63.7%	+63.7%	+66.2%
EBT Excl RE	12.13M	6.70M	8.38M	11.96M	9.18M
Pretax Income	24.14M	16.23M	12.89M	7.65M	7.25M
Operating Income RE	24.71M	19.59M	19.30M	20.20M	14.62M
Operating Margin	+53.8%	+54.2%	+62.9%	+63.6%	+66.0%
Profit Margin	+32.8%	+37.2%	+36.8%	+22.9%	+28.2%
Net Income	15.07M	13.41M	11.29M	7.27M	6.25M
Net Income to Common	15.07M	13.41M	11.29M	7.27M	6.25M
Net Income Growth	+12.4%	+18.9%	+55.3%	+16.3%	+75.2%
Earnings From Continuing Ops.	23.35M	15.49M	12.26M	7.54M	7.13M
Minority Interest in Earnings	-8.27M	-2.07M	-0.97M	-0.27M	-0.88M
Income Tax Expense	793.80K	744.33K	633.66K	107.71K	116.51K
Effective Tax Rate	+3.3%	+4.6%	+4.9%	+1.4%	+1.6%
Net Interest Expense RE	-12.55M	-12.78M	-10.78M	-8.03M	-5.22M
Per Share & Capital
EPS (Basic)	0.01	0.01	0.01	0.01	0.01
EPS (Diluted)	0.01	0.01	0.01	0.01	0.01
EPS Growth	+11.1%	+3.3%	+55.0%	+14.4%	+68.8%
Dividend Per Share	—	—	0.00	0.00	0.00
Shares Change (YoY)	0.01	0.15	0	0.02	0.04
Shares Outstanding (Basic)	1.28B	1.26B	1.10B	1.09B	1.08B
Shares Outstanding (Diluted)	1.28B	1.26B	1.10B	1.09B	1.08B
Dividend Growth	—	—	+36.0%	—	—
Payout Ratio	+0.5%	+26.9%	+23.1%	+35.7%	—
Supplemental
Other Operating Expenses RE	362.80K	692.09K	—	88.04K	-341.74K
Other Unusual RE	12.31M	—	—	—	—

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	45.96M	36.11M	30.66M	31.76M	22.15M
Interest Expense	-12.55M	-12.78M	-10.78M	-8.03M	-5.22M
Pretax Income	24.14M	16.23M	12.89M	7.65M	7.25M
Income Tax	793.80K	744.33K	633.66K	107.71K	116.51K
Net Income	15.07M	13.41M	11.29M	7.27M	6.25M
Rental Revenue	39.42M	34.86M	28.90M	27.62M	21.43M
Property Expenses	15.10M	12.27M	8.19M	7.64M	3.40M
Operating Income	24.71M	19.59M	19.30M	20.20M	14.62M
EPS (Basic)	0.01	0.01	0.01	0.01	0.01
EPS (Diluted)	0.01	0.01	0.01	0.01	0.01
DPS	—	—	0.00	0.00	0.00
Margins & Efficiency
Net Margin %	+32.8%	+37.1%	+36.8%	+22.9%	+28.2%
Revenue & Income
Revenue Growth (YoY)	+27.3%	+17.8%	-3.5%	+43.4%	-2.1%
Revenue RE	45.96M	36.11M	30.66M	31.76M	22.15M
Rental Revenue	39.42M	34.86M	28.90M	27.62M	21.43M
Other Revenue RE	2.93M	-1.54M	0.79M	3.92M	0.85M
Gain Assets RE	—	—	10.96M	-0.02M	1.73M
Gain Investments Rev Real Estate	3.18M	2.41M	0.61M	-0.20M	-0.38M
Expenses & Provisions
SG&A RE	5.14M	3.56M	3.03M	2.90M	2.16M
Total Operating Expenses RE	21.26M	16.52M	11.36M	11.56M	7.53M
Interest Expense RE	-12.55M	-12.78M	-10.78M	-8.03M	-5.22M
Other Non Oper Exp Suppl RE	-34.43K	-111.21K	-141.07K	-197.90K	-226.59K
Property Expenses	15.10M	12.27M	8.19M	7.64M	3.40M
Asset Writedown	-0.29M	9.53M	-6.44M	-4.30M	-3.66M
D&A For EBITDA	765.18K	749.89K	229.24K	32.58K	45.67K
Profitability & Returns
EBIT	24.71M	19.59M	19.30M	20.20M	14.62M
EBIT Margin	+53.8%	+54.2%	+62.9%	+63.6%	+66.0%
EBITDA	25.47M	20.34M	19.53M	20.23M	14.67M
EBITDA Margin	+55.4%	+56.3%	+63.7%	+63.7%	+66.2%
EBT Excl RE	12.13M	6.70M	8.38M	11.96M	9.18M
Pretax Income	24.14M	16.23M	12.89M	7.65M	7.25M
Operating Income RE	24.71M	19.59M	19.30M	20.20M	14.62M
Operating Margin	+53.8%	+54.2%	+62.9%	+63.6%	+66.0%
Profit Margin	+32.8%	+37.2%	+36.8%	+22.9%	+28.2%
Net Income	15.07M	13.41M	11.29M	7.27M	6.25M
Net Income to Common	15.07M	13.41M	11.29M	7.27M	6.25M
Net Income Growth	+12.4%	+18.9%	+55.3%	+16.3%	+75.2%
Earnings From Continuing Ops.	23.35M	15.49M	12.26M	7.54M	7.13M
Minority Interest in Earnings	-8.27M	-2.07M	-0.97M	-0.27M	-0.88M
Income Tax Expense	793.80K	744.33K	633.66K	107.71K	116.51K
Effective Tax Rate	+3.3%	+4.6%	+4.9%	+1.4%	+1.6%
Net Interest Expense RE	-12.55M	-12.78M	-10.78M	-8.03M	-5.22M
Per Share & Capital
EPS (Basic)	0.01	0.01	0.01	0.01	0.01
EPS (Diluted)	0.01	0.01	0.01	0.01	0.01
EPS Growth	+11.1%	+3.3%	+55.0%	+14.4%	+68.8%
Dividend Per Share	—	—	0.00	0.00	0.00
Shares Change (YoY)	0.01	0.15	0	0.02	0.04
Shares Outstanding (Basic)	1.28B	1.26B	1.10B	1.09B	1.08B
Shares Outstanding (Diluted)	1.28B	1.26B	1.10B	1.09B	1.08B
Dividend Growth	—	—	+36.0%	—	—
Payout Ratio	+0.5%	+26.9%	+23.1%	+35.7%	—
Supplemental
Other Operating Expenses RE	362.80K	692.09K	—	88.04K	-341.74K
Other Unusual RE	12.31M	—	—	—	—

Financials

Annual (KWD)

Kuwait Real Estate Company

Annual (KWD)