MARAFIQ

Power and Water Utility Company for Jubail and Yanbu (Marafiq)

2083StocksTadawulUtilities

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	1.64B	1.76B	2.33B	2.14B	2.23B
Free Cash Flow	1.22B	1.23B	1.68B	1.39B	1.44B
Capital Expenditures	-419.28M	-531.60M	-647.64M	-753.11M	-786.44M
Investing & Financing
Investing Cash Flow	-591.67M	-226.04M	962.27M	-873.52M	-972.00M
Financing Cash Flow	-1.46B	-1.26B	-2.79B	-1.07B	-1.37B
Dividends Paid	—	-362.43M	-549.66M	-389.57M	-140.61M
Operating Activities
Operating Cash Flow	1.64B	1.76B	2.33B	2.14B	2.23B
Net Income	449.43M	17.15M	587.00M	845.65M	632.00M
Change in Accounts Payable	91.78M	58.47M	-82.56M	74.81M	27.63M
Change in Accounts Receivable	171.97M	-95.50M	-224.21M	-37.37M	74.54M
Change in Inventory	-28.03M	-106.28M	13.80M	-40.03M	13.83M
Change in Other Net Operating Assets	84.44M	4.52M	28.38M	173.22M	148.07M
Change in Working Capital	320.15M	-138.79M	-264.59M	170.63M	264.08M
Other Operating Activities	-112.38M	-64.16M	576.07M	-44.88M	163.71M
Depreciation & Amortization	1.53B	1.50B	1.49B	1.17B	1.17B
Gw Intang Amort CF Utility	8.04M	4.95M	8.88M	8.47M	28.46M
Depamor CF Utility	1.52B	1.49B	1.48B	1.17B	1.14B
Cash Interest Paid	0.94B	1.04B	0.42B	0.28B	0.18B
Loss (Gain) on Equity Investments	-64.02M	-66.27M	-64.97M	-4.35M	-0.85M
Investing Activities
Investing Cash Flow	-591.67M	-226.04M	962.27M	-873.52M	-972.00M
Capital Expenditures	-419.28M	-531.60M	-647.64M	-753.11M	-786.44M
Capital Expenditures	-419.28M	-531.60M	-647.64M	-753.11M	-786.44M
Investment in Securities	-0.61B	0.06B	1.44B	-0.15B	-0.20B
Other Investing Activities	441.98M	245.15M	171.90M	34.46M	10.35M
Sale (Purchase) of Intangibles	—	—	—	-842.00K	-9.00K
Loss (Gain) on Sale of Assets	—	—	—	—	3.82M
Financing Activities
Financing Cash Flow	-1.46B	-1.26B	-2.79B	-1.07B	-1.37B
Common Dividends Paid	—	-362.43M	-549.66M	-389.57M	-140.61M
Short-Term Debt Issued	—	—	—	102.00M	173.40M
Total Debt Issued	—	—	—	102.00M	173.40M
Long-Term Debt Repaid	-1.46B	-0.90B	-2.24B	-0.68B	-1.10B
Short-Term Debt Repaid	—	—	—	-102.00M	-173.40M
Total Debt Repaid	-1.46B	-0.90B	-2.24B	-0.78B	-1.28B
Net Debt Issued (Repaid)	-1.46B	-0.90B	-2.24B	-0.68B	-1.10B
Other Financing Activities	—	—	—	—	-125.62M
Free Cash Flow & Returns
Free Cash Flow	1.22B	1.23B	1.68B	1.39B	1.44B
Free Cash Flow Growth	-0.3%	-27.0%	+20.8%	-3.6%	+46.2%
Free Cash Flow Margin	+17.6%	+17.8%	+26.3%	+21.4%	+23.3%
Free Cash Flow Per Share	4.89	4.91	6.72	5.57	5.77
Levered Free Cash Flow	1.14B	1.27B	0.64B	1.04B	1.12B
Unlevered Free Cash Flow	1.73B	1.92B	1.34B	1.22B	1.24B
Operating Cash Flow Growth	-6.6%	-24.5%	+8.6%	-3.8%	+42.0%
Net Cash Flow	-405.38M	270.78M	500.23M	203.04M	-112.16M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	1.64B	1.76B	2.33B	2.14B	2.23B
Free Cash Flow	1.22B	1.23B	1.68B	1.39B	1.44B
Capital Expenditures	-419.28M	-531.60M	-647.64M	-753.11M	-786.44M
Investing & Financing
Investing Cash Flow	-591.67M	-226.04M	962.27M	-873.52M	-972.00M
Financing Cash Flow	-1.46B	-1.26B	-2.79B	-1.07B	-1.37B
Dividends Paid	—	-362.43M	-549.66M	-389.57M	-140.61M
Operating Activities
Operating Cash Flow	1.64B	1.76B	2.33B	2.14B	2.23B
Net Income	449.43M	17.15M	587.00M	845.65M	632.00M
Change in Accounts Payable	91.78M	58.47M	-82.56M	74.81M	27.63M
Change in Accounts Receivable	171.97M	-95.50M	-224.21M	-37.37M	74.54M
Change in Inventory	-28.03M	-106.28M	13.80M	-40.03M	13.83M
Change in Other Net Operating Assets	84.44M	4.52M	28.38M	173.22M	148.07M
Change in Working Capital	320.15M	-138.79M	-264.59M	170.63M	264.08M
Other Operating Activities	-112.38M	-64.16M	576.07M	-44.88M	163.71M
Depreciation & Amortization	1.53B	1.50B	1.49B	1.17B	1.17B
Gw Intang Amort CF Utility	8.04M	4.95M	8.88M	8.47M	28.46M
Depamor CF Utility	1.52B	1.49B	1.48B	1.17B	1.14B
Cash Interest Paid	0.94B	1.04B	0.42B	0.28B	0.18B
Loss (Gain) on Equity Investments	-64.02M	-66.27M	-64.97M	-4.35M	-0.85M
Investing Activities
Investing Cash Flow	-591.67M	-226.04M	962.27M	-873.52M	-972.00M
Capital Expenditures	-419.28M	-531.60M	-647.64M	-753.11M	-786.44M
Capital Expenditures	-419.28M	-531.60M	-647.64M	-753.11M	-786.44M
Investment in Securities	-0.61B	0.06B	1.44B	-0.15B	-0.20B
Other Investing Activities	441.98M	245.15M	171.90M	34.46M	10.35M
Sale (Purchase) of Intangibles	—	—	—	-842.00K	-9.00K
Loss (Gain) on Sale of Assets	—	—	—	—	3.82M
Financing Activities
Financing Cash Flow	-1.46B	-1.26B	-2.79B	-1.07B	-1.37B
Common Dividends Paid	—	-362.43M	-549.66M	-389.57M	-140.61M
Short-Term Debt Issued	—	—	—	102.00M	173.40M
Total Debt Issued	—	—	—	102.00M	173.40M
Long-Term Debt Repaid	-1.46B	-0.90B	-2.24B	-0.68B	-1.10B
Short-Term Debt Repaid	—	—	—	-102.00M	-173.40M
Total Debt Repaid	-1.46B	-0.90B	-2.24B	-0.78B	-1.28B
Net Debt Issued (Repaid)	-1.46B	-0.90B	-2.24B	-0.68B	-1.10B
Other Financing Activities	—	—	—	—	-125.62M
Free Cash Flow & Returns
Free Cash Flow	1.22B	1.23B	1.68B	1.39B	1.44B
Free Cash Flow Growth	-0.3%	-27.0%	+20.8%	-3.6%	+46.2%
Free Cash Flow Margin	+17.6%	+17.8%	+26.3%	+21.4%	+23.3%
Free Cash Flow Per Share	4.89	4.91	6.72	5.57	5.77
Levered Free Cash Flow	1.14B	1.27B	0.64B	1.04B	1.12B
Unlevered Free Cash Flow	1.73B	1.92B	1.34B	1.22B	1.24B
Operating Cash Flow Growth	-6.6%	-24.5%	+8.6%	-3.8%	+42.0%
Net Cash Flow	-405.38M	270.78M	500.23M	203.04M	-112.16M