FIRST MILLS

First Milling Co.

2283StocksTadawulMaterials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	1.15B	1.05B	0.96B	0.91B	0.80B
Cost of Revenue	—	592.16M	551.45M	516.07M	470.27M
Gross Profit	1.15B	0.46B	0.41B	0.40B	0.33B
SG&A	—	137.51M	125.83M	141.42M	110.97M
Operating Expenses	861.63M	137.82M	126.46M	142.09M	110.97M
Operating Income	284.75M	318.87M	286.36M	255.49M	219.77M
Interest Income	—	5.83M	5.79M	0.69M	0.11M
Interest Expense	—	-93.10M	-93.34M	-36.81M	-11.82M
Other Income/Expense	-0.32M	26.31M	27.15M	4.34M	1.63M
Pretax Income	284.42M	257.05M	226.21M	223.71M	203.22M
Income Tax	6.98M	6.14M	6.00M	6.22M	4.74M
Net Income	277.44M	250.90M	220.21M	217.48M	198.48M
EBITDA	328.67M	357.94M	318.27M	290.23M	247.18M
EBIT	284.75M	318.87M	286.36M	255.49M	219.77M
EPS (Basic)	4.99	4.53	3.97	24.33	3.68
EPS (Diluted)	4.99	4.50	3.95	24.33	3.68
DPS	—	2.84	2.78	—	—
Margins & Efficiency
Gross Margin %	+100.0%	+43.5%	+42.8%	+43.5%	+41.3%
EBITDA Margin %	+28.7%	+34.1%	+33.0%	+31.8%	+30.9%
Net Margin %	+24.2%	+23.9%	+22.8%	+23.8%	+24.8%
Revenue & Income
Revenue	1.15B	1.05B	0.96B	0.91B	0.80B
Revenue Growth (YoY)	+9.3%	+8.8%	+5.5%	+14.1%	+11.8%
Interest & Investment Income	—	5.83M	5.79M	0.69M	0.11M
Gain (Loss) on Sale of Assets	—	-0.86M	0.26M	—	-6.47M
Expenses & Provisions
Cost of Revenue	—	592.16M	551.45M	516.07M	470.27M
Selling, General & Admin	—	137.51M	125.83M	141.42M	110.97M
Operating Expenses	861.63M	137.82M	126.46M	142.09M	110.97M
Other Operating Expenses	861.63M	—	—	—	—
Interest Expense	—	-93.10M	-93.34M	-36.81M	-11.82M
Other Non Operating Income (Expenses)	-0.32M	26.31M	27.15M	4.34M	1.63M
D&A For EBITDA	43.92M	39.07M	31.91M	34.74M	27.41M
Profitability & Returns
Gross Profit	1.15B	0.46B	0.41B	0.40B	0.33B
Gross Margin	+100.0%	+43.5%	+42.8%	+43.5%	+41.3%
EBIT	284.75M	318.87M	286.36M	255.49M	219.77M
EBIT Margin	+24.8%	+30.4%	+29.7%	+28.0%	+27.4%
EBITDA	328.67M	357.94M	318.27M	290.23M	247.18M
EBITDA Margin	+28.7%	+34.1%	+33.0%	+31.8%	+30.9%
EBT Excluding Unusual Items	284.42M	257.90M	225.95M	223.71M	209.69M
Pretax Income	284.42M	257.05M	226.21M	223.71M	203.22M
Operating Income	284.75M	318.87M	286.36M	255.49M	219.77M
Operating Margin	+24.8%	+30.4%	+29.7%	+28.0%	+27.4%
Profit Margin	+24.2%	+23.9%	+22.8%	+23.8%	+24.8%
Net Income	277.44M	250.90M	220.21M	217.48M	198.48M
Net Income to Common	277.44M	250.90M	220.21M	217.48M	198.48M
Net Income Growth	+10.6%	+13.9%	+1.3%	+9.6%	+4.1%
Income Tax Expense	6.98M	6.14M	6.00M	6.22M	4.74M
Effective Tax Rate	+2.5%	+2.4%	+2.7%	+2.8%	+2.3%
Per Share & Capital
EPS (Basic)	4.99	4.53	3.97	24.33	3.68
EPS (Diluted)	4.99	4.50	3.95	24.33	3.68
EPS Growth	+10.9%	+13.9%	-83.8%	+561.0%	+4.1%
Dividend Per Share	—	2.84	2.78	—	—
Shares Change (YoY)	-0.00K	-0.00K	0.01K	-0.00K	—
Shares Outstanding (Basic)	55.60M	55.44M	55.50M	8.94M	53.92M
Shares Outstanding (Diluted)	55.60M	55.72M	55.79M	8.94M	53.92M
Dividend Growth	—	+2.2%	—	—	—
Free Cash Flow	342.10M	252.35M	188.36M	195.41M	277.44M
Free Cash Flow Margin	+29.8%	+24.1%	+19.5%	+21.4%	+34.6%
Free Cash Flow Per Share	6.15	4.53	3.38	21.86	5.15
Payout Ratio	—	+65.2%	+34.5%	+82.5%	+309.6%

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	1.15B	1.05B	0.96B	0.91B	0.80B
Cost of Revenue	—	592.16M	551.45M	516.07M	470.27M
Gross Profit	1.15B	0.46B	0.41B	0.40B	0.33B
SG&A	—	137.51M	125.83M	141.42M	110.97M
Operating Expenses	861.63M	137.82M	126.46M	142.09M	110.97M
Operating Income	284.75M	318.87M	286.36M	255.49M	219.77M
Interest Income	—	5.83M	5.79M	0.69M	0.11M
Interest Expense	—	-93.10M	-93.34M	-36.81M	-11.82M
Other Income/Expense	-0.32M	26.31M	27.15M	4.34M	1.63M
Pretax Income	284.42M	257.05M	226.21M	223.71M	203.22M
Income Tax	6.98M	6.14M	6.00M	6.22M	4.74M
Net Income	277.44M	250.90M	220.21M	217.48M	198.48M
EBITDA	328.67M	357.94M	318.27M	290.23M	247.18M
EBIT	284.75M	318.87M	286.36M	255.49M	219.77M
EPS (Basic)	4.99	4.53	3.97	24.33	3.68
EPS (Diluted)	4.99	4.50	3.95	24.33	3.68
DPS	—	2.84	2.78	—	—
Margins & Efficiency
Gross Margin %	+100.0%	+43.5%	+42.8%	+43.5%	+41.3%
EBITDA Margin %	+28.7%	+34.1%	+33.0%	+31.8%	+30.9%
Net Margin %	+24.2%	+23.9%	+22.8%	+23.8%	+24.8%
Revenue & Income
Revenue	1.15B	1.05B	0.96B	0.91B	0.80B
Revenue Growth (YoY)	+9.3%	+8.8%	+5.5%	+14.1%	+11.8%
Interest & Investment Income	—	5.83M	5.79M	0.69M	0.11M
Gain (Loss) on Sale of Assets	—	-0.86M	0.26M	—	-6.47M
Expenses & Provisions
Cost of Revenue	—	592.16M	551.45M	516.07M	470.27M
Selling, General & Admin	—	137.51M	125.83M	141.42M	110.97M
Operating Expenses	861.63M	137.82M	126.46M	142.09M	110.97M
Other Operating Expenses	861.63M	—	—	—	—
Interest Expense	—	-93.10M	-93.34M	-36.81M	-11.82M
Other Non Operating Income (Expenses)	-0.32M	26.31M	27.15M	4.34M	1.63M
D&A For EBITDA	43.92M	39.07M	31.91M	34.74M	27.41M
Profitability & Returns
Gross Profit	1.15B	0.46B	0.41B	0.40B	0.33B
Gross Margin	+100.0%	+43.5%	+42.8%	+43.5%	+41.3%
EBIT	284.75M	318.87M	286.36M	255.49M	219.77M
EBIT Margin	+24.8%	+30.4%	+29.7%	+28.0%	+27.4%
EBITDA	328.67M	357.94M	318.27M	290.23M	247.18M
EBITDA Margin	+28.7%	+34.1%	+33.0%	+31.8%	+30.9%
EBT Excluding Unusual Items	284.42M	257.90M	225.95M	223.71M	209.69M
Pretax Income	284.42M	257.05M	226.21M	223.71M	203.22M
Operating Income	284.75M	318.87M	286.36M	255.49M	219.77M
Operating Margin	+24.8%	+30.4%	+29.7%	+28.0%	+27.4%
Profit Margin	+24.2%	+23.9%	+22.8%	+23.8%	+24.8%
Net Income	277.44M	250.90M	220.21M	217.48M	198.48M
Net Income to Common	277.44M	250.90M	220.21M	217.48M	198.48M
Net Income Growth	+10.6%	+13.9%	+1.3%	+9.6%	+4.1%
Income Tax Expense	6.98M	6.14M	6.00M	6.22M	4.74M
Effective Tax Rate	+2.5%	+2.4%	+2.7%	+2.8%	+2.3%
Per Share & Capital
EPS (Basic)	4.99	4.53	3.97	24.33	3.68
EPS (Diluted)	4.99	4.50	3.95	24.33	3.68
EPS Growth	+10.9%	+13.9%	-83.8%	+561.0%	+4.1%
Dividend Per Share	—	2.84	2.78	—	—
Shares Change (YoY)	-0.00K	-0.00K	0.01K	-0.00K	—
Shares Outstanding (Basic)	55.60M	55.44M	55.50M	8.94M	53.92M
Shares Outstanding (Diluted)	55.60M	55.72M	55.79M	8.94M	53.92M
Dividend Growth	—	+2.2%	—	—	—
Free Cash Flow	342.10M	252.35M	188.36M	195.41M	277.44M
Free Cash Flow Margin	+29.8%	+24.1%	+19.5%	+21.4%	+34.6%
Free Cash Flow Per Share	6.15	4.53	3.38	21.86	5.15
Payout Ratio	—	+65.2%	+34.5%	+82.5%	+309.6%