National Industries Company

National Industries Company for Building Materials

NICBMStocksBoursa KuwaitIndustrials

Financials

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
Operating Summary
Revenue	54.37M	51.42M	49.98M	48.13M	43.05M
Cost of Revenue	44.64M	41.49M	39.91M	37.90M	33.01M
Gross Profit	9.73M	9.93M	10.07M	10.23M	10.04M
SG&A	7.95M	7.71M	7.67M	6.86M	6.54M
Operating Expenses	7.54M	7.87M	7.25M	6.09M	5.96M
Operating Income	2.19M	2.06M	2.82M	4.14M	4.08M
Interest Income	2.27M	2.52M	1.70M	0.68M	1.29M
Interest Expense	-173.55K	-176.91K	-119.02K	-139.07K	-66.78K
Other Income/Expense	-35.82K	-58.15K	-37.59K	-42.81K	-44.09K
Pretax Income	4.15M	6.32M	3.95M	4.56M	5.68M
Income Tax	46.51K	55.29K	38.04K	49.94K	54.23K
Net Income	3.59M	6.06M	3.85M	4.38M	4.51M
EBITDA	5.59M	5.44M	5.94M	7.00M	6.90M
EBIT	2.19M	2.06M	2.82M	4.14M	4.08M
EPS (Basic)	0.01	0.02	0.01	0.01	0.01
EPS (Diluted)	0.01	0.02	0.01	0.01	0.01
DPS	0.01	0.01	0.01	0.01	0.01
Margins & Efficiency
Gross Margin %	+17.9%	+19.3%	+20.1%	+21.3%	+23.3%
EBITDA Margin %	+10.3%	+10.6%	+11.9%	+14.5%	+16.0%
Net Margin %	+6.6%	+11.8%	+7.7%	+9.1%	+10.5%
Revenue & Income
Revenue	54.37M	51.42M	49.98M	48.13M	43.05M
Revenue Growth (YoY)	+5.7%	+2.9%	+3.8%	+11.8%	+18.9%
Interest & Investment Income	2.27M	2.52M	1.70M	0.68M	1.29M
Earnings From Equity Investments	-325.36K	-158.77K	-244.73K	-252.38K	-104.62K
Gain (Loss) on Sale of Investments	235.00K	-85.00K	-150.00K	—	—
Currency Exchange Gain (Loss)	-11.04K	75.97K	-9.58K	-2.83K	-4.17K
Expenses & Provisions
Cost of Revenue	44.64M	41.49M	39.91M	37.90M	33.01M
Selling, General & Admin	7.95M	7.71M	7.67M	6.86M	6.54M
Operating Expenses	7.54M	7.87M	7.25M	6.09M	5.96M
Other Operating Expenses	-710.29K	-455.39K	-464.67K	-973.24K	-814.72K
Interest Expense	-173.55K	-176.91K	-119.02K	-139.07K	-66.78K
Other Non Operating Income (Expenses)	-35.82K	-58.15K	-37.59K	-42.81K	-44.09K
Legal Settlements	—	2.13M	—	—	—
Asset Writedown	—	—	—	178.29K	520.00K
D&A For EBITDA	3.41M	3.38M	3.13M	2.86M	2.82M
Profitability & Returns
Gross Profit	9.73M	9.93M	10.07M	10.23M	10.04M
Gross Margin	+17.9%	+19.3%	+20.1%	+21.3%	+23.3%
EBIT	2.19M	2.06M	2.82M	4.14M	4.08M
EBIT Margin	+4.0%	+4.0%	+5.6%	+8.6%	+9.5%
EBITDA	5.59M	5.44M	5.94M	7.00M	6.90M
EBITDA Margin	+10.3%	+10.6%	+11.9%	+14.5%	+16.0%
EBT Excluding Unusual Items	3.91M	4.27M	4.10M	4.39M	5.16M
Pretax Income	4.15M	6.32M	3.95M	4.56M	5.68M
Operating Income	2.19M	2.06M	2.82M	4.14M	4.08M
Operating Margin	+4.0%	+4.0%	+5.6%	+8.6%	+9.5%
Profit Margin	+6.6%	+11.8%	+7.7%	+9.1%	+10.5%
Net Income	3.59M	6.06M	3.85M	4.38M	4.51M
Net Income to Common	3.59M	6.06M	3.85M	4.38M	4.51M
Net Income to Company	4.10M	6.26M	3.82M	4.27M	3.98M
Net Income Growth	-40.8%	+57.5%	-12.2%	-2.9%	—
Earnings From Continuing Ops.	4.10M	6.26M	3.91M	4.51M	5.62M
Earnings From Discontinued Ops.	—	—	-0.09M	-0.25M	-1.64M
Minority Interest in Earnings	-514.77K	-200.73K	28.37K	114.62K	535.22K
Income Tax Expense	46.51K	55.29K	38.04K	49.94K	54.23K
Effective Tax Rate	+1.1%	+0.9%	+1.0%	+1.1%	+1.0%
Per Share & Capital
EPS (Basic)	0.01	0.02	0.01	0.01	0.01
EPS (Diluted)	0.01	0.02	0.01	0.01	0.01
EPS Growth	-40.2%	+57.3%	-12.3%	-3.0%	—
Dividend Per Share	0.01	0.01	0.01	0.01	0.01
Shares Change (YoY)	-0.01	0	0	0	-0
Shares Outstanding (Basic)	346.73M	350.14M	350.21M	350.11M	349.92M
Shares Outstanding (Diluted)	348.28M	351.90M	351.42M	351.16M	351.04M
Free Cash Flow	7.33M	4.83M	10.65M	4.59M	5.58M
Free Cash Flow Margin	+13.5%	+9.4%	+21.3%	+9.5%	+13.0%
Free Cash Flow Per Share	0.02	0.01	0.03	0.01	0.02
Payout Ratio	+96.7%	+57.9%	+91.1%	+80.0%	—

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
Operating Summary
Revenue	54.37M	51.42M	49.98M	48.13M	43.05M
Cost of Revenue	44.64M	41.49M	39.91M	37.90M	33.01M
Gross Profit	9.73M	9.93M	10.07M	10.23M	10.04M
SG&A	7.95M	7.71M	7.67M	6.86M	6.54M
Operating Expenses	7.54M	7.87M	7.25M	6.09M	5.96M
Operating Income	2.19M	2.06M	2.82M	4.14M	4.08M
Interest Income	2.27M	2.52M	1.70M	0.68M	1.29M
Interest Expense	-173.55K	-176.91K	-119.02K	-139.07K	-66.78K
Other Income/Expense	-35.82K	-58.15K	-37.59K	-42.81K	-44.09K
Pretax Income	4.15M	6.32M	3.95M	4.56M	5.68M
Income Tax	46.51K	55.29K	38.04K	49.94K	54.23K
Net Income	3.59M	6.06M	3.85M	4.38M	4.51M
EBITDA	5.59M	5.44M	5.94M	7.00M	6.90M
EBIT	2.19M	2.06M	2.82M	4.14M	4.08M
EPS (Basic)	0.01	0.02	0.01	0.01	0.01
EPS (Diluted)	0.01	0.02	0.01	0.01	0.01
DPS	0.01	0.01	0.01	0.01	0.01
Margins & Efficiency
Gross Margin %	+17.9%	+19.3%	+20.1%	+21.3%	+23.3%
EBITDA Margin %	+10.3%	+10.6%	+11.9%	+14.5%	+16.0%
Net Margin %	+6.6%	+11.8%	+7.7%	+9.1%	+10.5%
Revenue & Income
Revenue	54.37M	51.42M	49.98M	48.13M	43.05M
Revenue Growth (YoY)	+5.7%	+2.9%	+3.8%	+11.8%	+18.9%
Interest & Investment Income	2.27M	2.52M	1.70M	0.68M	1.29M
Earnings From Equity Investments	-325.36K	-158.77K	-244.73K	-252.38K	-104.62K
Gain (Loss) on Sale of Investments	235.00K	-85.00K	-150.00K	—	—
Currency Exchange Gain (Loss)	-11.04K	75.97K	-9.58K	-2.83K	-4.17K
Expenses & Provisions
Cost of Revenue	44.64M	41.49M	39.91M	37.90M	33.01M
Selling, General & Admin	7.95M	7.71M	7.67M	6.86M	6.54M
Operating Expenses	7.54M	7.87M	7.25M	6.09M	5.96M
Other Operating Expenses	-710.29K	-455.39K	-464.67K	-973.24K	-814.72K
Interest Expense	-173.55K	-176.91K	-119.02K	-139.07K	-66.78K
Other Non Operating Income (Expenses)	-35.82K	-58.15K	-37.59K	-42.81K	-44.09K
Legal Settlements	—	2.13M	—	—	—
Asset Writedown	—	—	—	178.29K	520.00K
D&A For EBITDA	3.41M	3.38M	3.13M	2.86M	2.82M
Profitability & Returns
Gross Profit	9.73M	9.93M	10.07M	10.23M	10.04M
Gross Margin	+17.9%	+19.3%	+20.1%	+21.3%	+23.3%
EBIT	2.19M	2.06M	2.82M	4.14M	4.08M
EBIT Margin	+4.0%	+4.0%	+5.6%	+8.6%	+9.5%
EBITDA	5.59M	5.44M	5.94M	7.00M	6.90M
EBITDA Margin	+10.3%	+10.6%	+11.9%	+14.5%	+16.0%
EBT Excluding Unusual Items	3.91M	4.27M	4.10M	4.39M	5.16M
Pretax Income	4.15M	6.32M	3.95M	4.56M	5.68M
Operating Income	2.19M	2.06M	2.82M	4.14M	4.08M
Operating Margin	+4.0%	+4.0%	+5.6%	+8.6%	+9.5%
Profit Margin	+6.6%	+11.8%	+7.7%	+9.1%	+10.5%
Net Income	3.59M	6.06M	3.85M	4.38M	4.51M
Net Income to Common	3.59M	6.06M	3.85M	4.38M	4.51M
Net Income to Company	4.10M	6.26M	3.82M	4.27M	3.98M
Net Income Growth	-40.8%	+57.5%	-12.2%	-2.9%	—
Earnings From Continuing Ops.	4.10M	6.26M	3.91M	4.51M	5.62M
Earnings From Discontinued Ops.	—	—	-0.09M	-0.25M	-1.64M
Minority Interest in Earnings	-514.77K	-200.73K	28.37K	114.62K	535.22K
Income Tax Expense	46.51K	55.29K	38.04K	49.94K	54.23K
Effective Tax Rate	+1.1%	+0.9%	+1.0%	+1.1%	+1.0%
Per Share & Capital
EPS (Basic)	0.01	0.02	0.01	0.01	0.01
EPS (Diluted)	0.01	0.02	0.01	0.01	0.01
EPS Growth	-40.2%	+57.3%	-12.3%	-3.0%	—
Dividend Per Share	0.01	0.01	0.01	0.01	0.01
Shares Change (YoY)	-0.01	0	0	0	-0
Shares Outstanding (Basic)	346.73M	350.14M	350.21M	350.11M	349.92M
Shares Outstanding (Diluted)	348.28M	351.90M	351.42M	351.16M	351.04M
Free Cash Flow	7.33M	4.83M	10.65M	4.59M	5.58M
Free Cash Flow Margin	+13.5%	+9.4%	+21.3%	+9.5%	+13.0%
Free Cash Flow Per Share	0.02	0.01	0.03	0.01	0.02
Payout Ratio	+96.7%	+57.9%	+91.1%	+80.0%	—