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
Assets
Cash & Equivalents	196.57M	197.30M	201.30M	195.37M	90.67M
Cash & Short-Term Investments	537.34M	512.09M	486.06M	458.58M	346.23M
Receivables	100.24M	95.64M	88.80M	53.43M	40.62M
Inventory	44.75M	46.13M	47.18M	41.11M	36.91M
Current Assets	869.78M	819.94M	765.44M	703.23M	582.46M
PP&E	114.47M	116.10M	116.06M	96.02M	96.23M
Goodwill	6.30M	6.10M	10.10M	9.75M	—
Intangible Assets	8.65M	9.62M	10.87M	0.02M	9.83M
Total Assets	1.70B	1.60B	1.50B	1.38B	1.28B
Liabilities
Accounts Payable	31.27M	27.09M	33.41M	21.10M	20.95M
Current Liabilities	453.67M	448.79M	365.01M	341.37M	303.03M
Long-Term Debt	406.41M	364.46M	421.85M	365.23M	374.56M
Short-Term Debt	307.55M	292.84M	257.79M	214.66M	199.66M
Total Debt	787.74M	749.32M	716.47M	657.54M	637.02M
Total Liabilities	915.68M	861.09M	835.99M	754.59M	722.71M
Equity & Ownership
Retained Earnings	201.54M	160.18M	122.77M	122.88M	137.84M
Total Equity	782.35M	738.12M	665.29M	630.17M	557.20M
Net Debt	250.40M	237.22M	230.41M	198.96M	290.79M
Shares Outstanding	2,489,925,929	2,489,925,928	2,489,925,927	2,489,925,925	1,837,441,717
Cash & Assets
Total Assets	1.70B	1.60B	1.50B	1.38B	1.28B
Total Current Assets	869.78M	819.94M	765.44M	703.23M	582.46M
Cash & Equivalents	196.57M	197.30M	201.30M	195.37M	90.67M
Cash & Short-Term Investments	537.34M	512.09M	486.06M	458.58M	346.23M
Net Cash (Debt)	-250.40M	-237.22M	-230.41M	-198.96M	-290.79M
Net Cash Per Share	-0.10	-0.10	-0.09	-0.08	-0.15
Cash Growth	+4.9%	+5.4%	+6.0%	+32.4%	+23.1%
Accounts Receivable	77.29M	70.55M	68.13M	30.98M	26.42M
Other Receivables	22.95M	25.09M	20.67M	22.45M	14.20M
Receivables	100.24M	95.64M	88.80M	53.43M	40.62M
Inventory	44.75M	46.13M	47.18M	41.11M	36.91M
Prepaid Expenses	30.16M	32.52M	27.72M	4.63M	—
Construction In Progress	6.06M	4.70M	7.60M	6.92M	20.16M
Land	2.22M	2.22M	2.21M	2.20M	2.18M
Machinery	226.42M	224.13M	216.08M	164.66M	146.81M
Property, Plant & Equipment	114.47M	116.10M	116.06M	96.02M	96.23M
Goodwill	6.30M	6.10M	10.10M	9.75M	—
Other Intangible Assets	8.65M	9.62M	10.87M	0.02M	9.83M
Other Current Assets	157.29M	133.56M	115.68M	145.48M	158.70M
Other Long-Term Assets	82.72M	86.94M	79.44M	77.86M	87.03M
Long-Term Leases	—	—	—	4.04M	5.50M
Current Portion of Leases	—	—	—	1.84M	1.78M
Loans & Investments
Trading Asset Securities	320.32M	300.91M	279.57M	261.83M	255.56M
Short-Term Investments	20.45M	13.88M	5.20M	1.38M	—
Long-Term Investments	616.10M	560.51M	519.37M	497.87M	504.35M
Liabilities & Obligations
Total Liabilities	915.68M	861.09M	835.99M	754.59M	722.71M
Total Liabilities & Equity	1.70B	1.60B	1.50B	1.38B	1.28B
Total Current Liabilities	453.67M	448.79M	365.01M	341.37M	303.03M
Accounts Payable	31.27M	27.09M	33.41M	21.10M	20.95M
Accrued Expenses	25.59M	23.32M	24.25M	16.61M	11.82M
Current Income Taxes Payable	15.48M	13.52M	12.73M	15.39M	13.30M
Pension & Post-Retirement Benefits	18.29M	17.30M	16.08M	13.83M	12.76M
Other Long-Term Liabilities	37.31M	30.54M	33.06M	30.12M	26.86M
Debt & Funding
Long-Term Debt	406.41M	364.46M	421.85M	365.23M	374.56M
Short-Term Debt	307.55M	292.84M	257.79M	214.66M	199.66M
Total Debt	787.74M	749.32M	716.47M	657.54M	637.02M
Current Portion of Long-Term Debt	73.78M	92.02M	36.83M	71.77M	55.52M
Equity & Book Value
Shareholders' Equity	782.35M	738.12M	665.29M	630.17M	557.20M
Total Common Equity	596.99M	550.91M	498.90M	486.97M	408.46M
Common Stock	253.04M	240.99M	229.52M	218.59M	149.92M
Additional Paid-In Capital	175.44M	175.44M	175.44M	175.44M	122.96M
Retained Earnings	201.54M	160.18M	122.77M	122.88M	137.84M
Treasury Stock	-23.98M	-23.98M	-23.98M	-23.98M	-23.41M
Comprehensive Income & Other	-9.05M	-1.73M	-4.85M	-5.96M	21.14M
Minority Interest	185.36M	187.21M	166.38M	143.20M	148.74M
Book Value Per Share	0.24	0.22	0.20	0.20	0.22
Tangible Book Value	582.04M	535.18M	477.93M	477.20M	398.63M
Tangible Book Value Per Share	0.23	0.21	0.19	0.19	0.22
Filing Date Shares Outstanding	2.49B	2.49B	2.49B	2.49B	1.84B
Total Common Shares Outstanding	2.49B	2.49B	2.49B	2.49B	1.84B
Working Capital	416.11M	371.15M	400.43M	361.86M	279.44M

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
Assets
Cash & Equivalents	196.57M	197.30M	201.30M	195.37M	90.67M
Cash & Short-Term Investments	537.34M	512.09M	486.06M	458.58M	346.23M
Receivables	100.24M	95.64M	88.80M	53.43M	40.62M
Inventory	44.75M	46.13M	47.18M	41.11M	36.91M
Current Assets	869.78M	819.94M	765.44M	703.23M	582.46M
PP&E	114.47M	116.10M	116.06M	96.02M	96.23M
Goodwill	6.30M	6.10M	10.10M	9.75M	—
Intangible Assets	8.65M	9.62M	10.87M	0.02M	9.83M
Total Assets	1.70B	1.60B	1.50B	1.38B	1.28B
Liabilities
Accounts Payable	31.27M	27.09M	33.41M	21.10M	20.95M
Current Liabilities	453.67M	448.79M	365.01M	341.37M	303.03M
Long-Term Debt	406.41M	364.46M	421.85M	365.23M	374.56M
Short-Term Debt	307.55M	292.84M	257.79M	214.66M	199.66M
Total Debt	787.74M	749.32M	716.47M	657.54M	637.02M
Total Liabilities	915.68M	861.09M	835.99M	754.59M	722.71M
Equity & Ownership
Retained Earnings	201.54M	160.18M	122.77M	122.88M	137.84M
Total Equity	782.35M	738.12M	665.29M	630.17M	557.20M
Net Debt	250.40M	237.22M	230.41M	198.96M	290.79M
Shares Outstanding	2,489,925,929	2,489,925,928	2,489,925,927	2,489,925,925	1,837,441,717
Cash & Assets
Total Assets	1.70B	1.60B	1.50B	1.38B	1.28B
Total Current Assets	869.78M	819.94M	765.44M	703.23M	582.46M
Cash & Equivalents	196.57M	197.30M	201.30M	195.37M	90.67M
Cash & Short-Term Investments	537.34M	512.09M	486.06M	458.58M	346.23M
Net Cash (Debt)	-250.40M	-237.22M	-230.41M	-198.96M	-290.79M
Net Cash Per Share	-0.10	-0.10	-0.09	-0.08	-0.15
Cash Growth	+4.9%	+5.4%	+6.0%	+32.4%	+23.1%
Accounts Receivable	77.29M	70.55M	68.13M	30.98M	26.42M
Other Receivables	22.95M	25.09M	20.67M	22.45M	14.20M
Receivables	100.24M	95.64M	88.80M	53.43M	40.62M
Inventory	44.75M	46.13M	47.18M	41.11M	36.91M
Prepaid Expenses	30.16M	32.52M	27.72M	4.63M	—
Construction In Progress	6.06M	4.70M	7.60M	6.92M	20.16M
Land	2.22M	2.22M	2.21M	2.20M	2.18M
Machinery	226.42M	224.13M	216.08M	164.66M	146.81M
Property, Plant & Equipment	114.47M	116.10M	116.06M	96.02M	96.23M
Goodwill	6.30M	6.10M	10.10M	9.75M	—
Other Intangible Assets	8.65M	9.62M	10.87M	0.02M	9.83M
Other Current Assets	157.29M	133.56M	115.68M	145.48M	158.70M
Other Long-Term Assets	82.72M	86.94M	79.44M	77.86M	87.03M
Long-Term Leases	—	—	—	4.04M	5.50M
Current Portion of Leases	—	—	—	1.84M	1.78M
Loans & Investments
Trading Asset Securities	320.32M	300.91M	279.57M	261.83M	255.56M
Short-Term Investments	20.45M	13.88M	5.20M	1.38M	—
Long-Term Investments	616.10M	560.51M	519.37M	497.87M	504.35M
Liabilities & Obligations
Total Liabilities	915.68M	861.09M	835.99M	754.59M	722.71M
Total Liabilities & Equity	1.70B	1.60B	1.50B	1.38B	1.28B
Total Current Liabilities	453.67M	448.79M	365.01M	341.37M	303.03M
Accounts Payable	31.27M	27.09M	33.41M	21.10M	20.95M
Accrued Expenses	25.59M	23.32M	24.25M	16.61M	11.82M
Current Income Taxes Payable	15.48M	13.52M	12.73M	15.39M	13.30M
Pension & Post-Retirement Benefits	18.29M	17.30M	16.08M	13.83M	12.76M
Other Long-Term Liabilities	37.31M	30.54M	33.06M	30.12M	26.86M
Debt & Funding
Long-Term Debt	406.41M	364.46M	421.85M	365.23M	374.56M
Short-Term Debt	307.55M	292.84M	257.79M	214.66M	199.66M
Total Debt	787.74M	749.32M	716.47M	657.54M	637.02M
Current Portion of Long-Term Debt	73.78M	92.02M	36.83M	71.77M	55.52M
Equity & Book Value
Shareholders' Equity	782.35M	738.12M	665.29M	630.17M	557.20M
Total Common Equity	596.99M	550.91M	498.90M	486.97M	408.46M
Common Stock	253.04M	240.99M	229.52M	218.59M	149.92M
Additional Paid-In Capital	175.44M	175.44M	175.44M	175.44M	122.96M
Retained Earnings	201.54M	160.18M	122.77M	122.88M	137.84M
Treasury Stock	-23.98M	-23.98M	-23.98M	-23.98M	-23.41M
Comprehensive Income & Other	-9.05M	-1.73M	-4.85M	-5.96M	21.14M
Minority Interest	185.36M	187.21M	166.38M	143.20M	148.74M
Book Value Per Share	0.24	0.22	0.20	0.20	0.22
Tangible Book Value	582.04M	535.18M	477.93M	477.20M	398.63M
Tangible Book Value Per Share	0.23	0.21	0.19	0.19	0.22
Filing Date Shares Outstanding	2.49B	2.49B	2.49B	2.49B	1.84B
Total Common Shares Outstanding	2.49B	2.49B	2.49B	2.49B	1.84B
Working Capital	416.11M	371.15M	400.43M	361.86M	279.44M

Financials

Annual (KWD)

National Industries Group (holding)

Annual (KWD)