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	664.35M	592.16M	551.45M	516.07M	470.27M
Gross Profit	482.02M	456.69M	412.82M	397.58M	330.74M
SG&A	143.19M	137.51M	125.83M	141.42M	110.97M
Operating Expenses	142.89M	137.82M	126.46M	142.09M	110.97M
Operating Income	339.13M	318.87M	286.36M	255.49M	219.77M
Interest Income	24.82M	34.75M	5.79M	0.69M	0.11M
Interest Expense	-76.18M	-93.10M	-93.34M	-36.81M	-11.82M
Other Income/Expense	-3.02M	-2.62M	27.15M	4.34M	1.63M
Pretax Income	284.75M	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	384.45M	357.94M	318.27M	290.23M	247.18M
EBIT	339.13M	318.87M	286.36M	255.49M	219.77M
EPS (Basic)	5.00	4.53	3.97	24.33	3.68
EPS (Diluted)	4.97	4.50	3.95	24.33	3.68
DPS	3.15	2.84	2.78	—	—
Margins & Efficiency
Gross Margin %	+42.0%	+43.5%	+42.8%	+43.5%	+41.3%
EBITDA Margin %	+33.5%	+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	24.82M	34.75M	5.79M	0.69M	0.11M
Gain (Loss) on Sale of Assets	—	-0.86M	0.26M	—	-6.47M
Expenses & Provisions
Cost of Revenue	664.35M	592.16M	551.45M	516.07M	470.27M
Selling, General & Admin	143.19M	137.51M	125.83M	141.42M	110.97M
Operating Expenses	142.89M	137.82M	126.46M	142.09M	110.97M
Interest Expense	-76.18M	-93.10M	-93.34M	-36.81M	-11.82M
Other Non Operating Income (Expenses)	-3.02M	-2.62M	27.15M	4.34M	1.63M
D&A For EBITDA	45.32M	39.07M	31.91M	34.74M	27.41M
Profitability & Returns
Gross Profit	482.02M	456.69M	412.82M	397.58M	330.74M
Gross Margin	+42.0%	+43.5%	+42.8%	+43.5%	+41.3%
EBIT	339.13M	318.87M	286.36M	255.49M	219.77M
EBIT Margin	+29.6%	+30.4%	+29.7%	+28.0%	+27.4%
EBITDA	384.45M	357.94M	318.27M	290.23M	247.18M
EBITDA Margin	+33.5%	+34.1%	+33.0%	+31.8%	+30.9%
EBT Excluding Unusual Items	284.75M	257.90M	225.95M	223.71M	209.69M
Pretax Income	284.75M	257.05M	226.21M	223.71M	203.22M
Operating Income	339.13M	318.87M	286.36M	255.49M	219.77M
Operating Margin	+29.6%	+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%
Earnings From Continuing Ops.	277.77M	250.90M	220.21M	217.48M	198.48M
Minority Interest in Earnings	-323.52K	—	—	—	—
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)	5.00	4.53	3.97	24.33	3.68
EPS (Diluted)	4.97	4.50	3.95	24.33	3.68
EPS Growth	+10.4%	+13.9%	-83.8%	+561.0%	+4.1%
Dividend Per Share	3.15	2.84	2.78	—	—
Shares Change (YoY)	0.00K	-0.00K	0.01K	-0.00K	—
Shares Outstanding (Basic)	55.50M	55.44M	55.50M	8.94M	53.92M
Shares Outstanding (Diluted)	55.77M	55.72M	55.79M	8.94M	53.92M
Dividend Growth	+10.9%	+2.2%	—	—	—
Free Cash Flow	260.18M	252.35M	188.36M	195.41M	277.44M
Free Cash Flow Margin	+22.7%	+24.1%	+19.5%	+21.4%	+34.6%
Free Cash Flow Per Share	4.67	4.53	3.38	21.86	5.15
Payout Ratio	+55.1%	+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	664.35M	592.16M	551.45M	516.07M	470.27M
Gross Profit	482.02M	456.69M	412.82M	397.58M	330.74M
SG&A	143.19M	137.51M	125.83M	141.42M	110.97M
Operating Expenses	142.89M	137.82M	126.46M	142.09M	110.97M
Operating Income	339.13M	318.87M	286.36M	255.49M	219.77M
Interest Income	24.82M	34.75M	5.79M	0.69M	0.11M
Interest Expense	-76.18M	-93.10M	-93.34M	-36.81M	-11.82M
Other Income/Expense	-3.02M	-2.62M	27.15M	4.34M	1.63M
Pretax Income	284.75M	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	384.45M	357.94M	318.27M	290.23M	247.18M
EBIT	339.13M	318.87M	286.36M	255.49M	219.77M
EPS (Basic)	5.00	4.53	3.97	24.33	3.68
EPS (Diluted)	4.97	4.50	3.95	24.33	3.68
DPS	3.15	2.84	2.78	—	—
Margins & Efficiency
Gross Margin %	+42.0%	+43.5%	+42.8%	+43.5%	+41.3%
EBITDA Margin %	+33.5%	+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	24.82M	34.75M	5.79M	0.69M	0.11M
Gain (Loss) on Sale of Assets	—	-0.86M	0.26M	—	-6.47M
Expenses & Provisions
Cost of Revenue	664.35M	592.16M	551.45M	516.07M	470.27M
Selling, General & Admin	143.19M	137.51M	125.83M	141.42M	110.97M
Operating Expenses	142.89M	137.82M	126.46M	142.09M	110.97M
Interest Expense	-76.18M	-93.10M	-93.34M	-36.81M	-11.82M
Other Non Operating Income (Expenses)	-3.02M	-2.62M	27.15M	4.34M	1.63M
D&A For EBITDA	45.32M	39.07M	31.91M	34.74M	27.41M
Profitability & Returns
Gross Profit	482.02M	456.69M	412.82M	397.58M	330.74M
Gross Margin	+42.0%	+43.5%	+42.8%	+43.5%	+41.3%
EBIT	339.13M	318.87M	286.36M	255.49M	219.77M
EBIT Margin	+29.6%	+30.4%	+29.7%	+28.0%	+27.4%
EBITDA	384.45M	357.94M	318.27M	290.23M	247.18M
EBITDA Margin	+33.5%	+34.1%	+33.0%	+31.8%	+30.9%
EBT Excluding Unusual Items	284.75M	257.90M	225.95M	223.71M	209.69M
Pretax Income	284.75M	257.05M	226.21M	223.71M	203.22M
Operating Income	339.13M	318.87M	286.36M	255.49M	219.77M
Operating Margin	+29.6%	+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%
Earnings From Continuing Ops.	277.77M	250.90M	220.21M	217.48M	198.48M
Minority Interest in Earnings	-323.52K	—	—	—	—
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)	5.00	4.53	3.97	24.33	3.68
EPS (Diluted)	4.97	4.50	3.95	24.33	3.68
EPS Growth	+10.4%	+13.9%	-83.8%	+561.0%	+4.1%
Dividend Per Share	3.15	2.84	2.78	—	—
Shares Change (YoY)	0.00K	-0.00K	0.01K	-0.00K	—
Shares Outstanding (Basic)	55.50M	55.44M	55.50M	8.94M	53.92M
Shares Outstanding (Diluted)	55.77M	55.72M	55.79M	8.94M	53.92M
Dividend Growth	+10.9%	+2.2%	—	—	—
Free Cash Flow	260.18M	252.35M	188.36M	195.41M	277.44M
Free Cash Flow Margin	+22.7%	+24.1%	+19.5%	+21.4%	+34.6%
Free Cash Flow Per Share	4.67	4.53	3.38	21.86	5.15
Payout Ratio	+55.1%	+65.2%	+34.5%	+82.5%	+309.6%