FOURTH MILLING

Fourth Milling Company

2286StocksTadawulMaterials

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
Assets
Cash & Equivalents	63.10M	122.41M	106.34M	164.66M	67.26M
Cash & Short-Term Investments	219.26M	196.47M	106.34M	165.00M	67.26M
Receivables	26.82M	12.17M	28.23M	3.78M	0.22M
Inventory	62.01M	56.94M	55.97M	80.32M	95.97M
Current Assets	318.57M	275.82M	205.86M	259.39M	171.63M
PP&E	829.93M	854.36M	894.46M	835.75M	858.24M
Intangible Assets	58.05M	57.67M	56.72M	55.87M	5.56M
Total Assets	1.26B	1.20B	1.16B	1.15B	1.04B
Liabilities
Accounts Payable	29.74M	32.33M	22.40M	26.84M	46.90M
Current Liabilities	86.18M	88.32M	85.04M	107.94M	88.40M
Total Debt	376.35M	393.73M	402.25M	309.10M	316.40M
Total Liabilities	464.27M	483.90M	474.03M	395.86M	383.64M
Equity & Ownership
Retained Earnings	255.96M	173.97M	143.44M	281.24M	177.89M
Total Equity	794.73M	713.37M	683.01M	755.15M	651.80M
Net Debt	157.09M	197.26M	295.91M	144.10M	249.15M
Shares Outstanding	540,000,000	540,000,000	473,903,170	473,903,170	473,903,170
Cash & Assets
Total Assets	1.26B	1.20B	1.16B	1.15B	1.04B
Total Current Assets	318.57M	275.82M	205.86M	259.39M	171.63M
Cash & Equivalents	63.10M	122.41M	106.34M	164.66M	67.26M
Cash & Short-Term Investments	219.26M	196.47M	106.34M	165.00M	67.26M
Net Cash (Debt)	-157.09M	-197.26M	-295.91M	-144.10M	-249.15M
Net Cash Per Share	-0.29	-0.37	-0.55	-0.30	-0.53
Cash Growth	+11.6%	+84.8%	-35.6%	+145.3%	+34.2%
Accounts Receivable	26.11M	11.46M	27.98M	3.76M	—
Other Receivables	709.79K	716.43K	196.52K	—	219.31K
Receivables	26.82M	12.17M	28.23M	3.78M	0.22M
Inventory	62.01M	56.94M	55.97M	80.32M	95.97M
Prepaid Expenses	3.53M	3.81M	2.50M	2.03M	1.61M
Construction In Progress	22.09M	3.76M	7.49M	9.51M	12.77M
Buildings	247.05M	243.42M	242.41M	241.91M	233.19M
Machinery	526.21M	515.64M	505.40M	478.74M	461.46M
Property, Plant & Equipment	829.93M	854.36M	894.46M	835.75M	858.24M
Other Intangible Assets	58.05M	57.67M	56.72M	55.87M	5.56M
Other Current Assets	6.95M	6.43M	12.82M	8.26M	6.58M
Other Long-Term Assets	52.45M	9.43M	—	—	—
Long-Term Leases	363.18M	381.18M	379.27M	286.50M	294.17M
Current Portion of Leases	13.18M	12.55M	22.99M	22.59M	22.23M
Loans & Investments
Short-Term Investments	156.16M	74.06M	—	0.34M	—
Liabilities & Obligations
Total Liabilities	464.27M	483.90M	474.03M	395.86M	383.64M
Total Liabilities & Equity	1.26B	1.20B	1.16B	1.15B	1.04B
Total Current Liabilities	86.18M	88.32M	85.04M	107.94M	88.40M
Accounts Payable	29.74M	32.33M	22.40M	26.84M	46.90M
Accrued Expenses	23.32M	21.52M	26.73M	32.67M	13.13M
Current Income Taxes Payable	6.21M	7.48M	0.92M	13.85M	0.21M
Current Unearned Revenue	9.52M	9.86M	10.51M	9.40M	5.69M
Other Current Liabilities	4.22M	4.57M	1.49M	2.60M	0.24M
Pension & Post-Retirement Benefits	7.97M	5.62M	3.92M	1.42M	1.07M
Long-Term Deferred Tax Liabilities	6.95M	8.79M	5.81M	—	—
Debt & Funding
Total Debt	376.35M	393.73M	402.25M	309.10M	316.40M
Equity & Book Value
Shareholders' Equity	794.73M	713.37M	683.01M	755.15M	651.80M
Common Stock	540.00M	540.00M	473.90M	473.90M	473.90M
Retained Earnings	255.96M	173.97M	143.44M	281.24M	177.89M
Comprehensive Income & Other	-1.23M	-0.60M	65.67M	—	—
Book Value Per Share	1.47	1.32	1.44	1.59	1.38
Tangible Book Value	736.68M	655.71M	626.29M	699.28M	646.24M
Tangible Book Value Per Share	1.36	1.21	1.32	1.48	1.36
Filing Date Shares Outstanding	540.00M	540.00M	473.90M	473.90M	473.90M
Total Common Shares Outstanding	540.00M	540.00M	473.90M	473.90M	473.90M
Working Capital	232.40M	187.51M	120.83M	151.45M	83.24M

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
Assets
Cash & Equivalents	63.10M	122.41M	106.34M	164.66M	67.26M
Cash & Short-Term Investments	219.26M	196.47M	106.34M	165.00M	67.26M
Receivables	26.82M	12.17M	28.23M	3.78M	0.22M
Inventory	62.01M	56.94M	55.97M	80.32M	95.97M
Current Assets	318.57M	275.82M	205.86M	259.39M	171.63M
PP&E	829.93M	854.36M	894.46M	835.75M	858.24M
Intangible Assets	58.05M	57.67M	56.72M	55.87M	5.56M
Total Assets	1.26B	1.20B	1.16B	1.15B	1.04B
Liabilities
Accounts Payable	29.74M	32.33M	22.40M	26.84M	46.90M
Current Liabilities	86.18M	88.32M	85.04M	107.94M	88.40M
Total Debt	376.35M	393.73M	402.25M	309.10M	316.40M
Total Liabilities	464.27M	483.90M	474.03M	395.86M	383.64M
Equity & Ownership
Retained Earnings	255.96M	173.97M	143.44M	281.24M	177.89M
Total Equity	794.73M	713.37M	683.01M	755.15M	651.80M
Net Debt	157.09M	197.26M	295.91M	144.10M	249.15M
Shares Outstanding	540,000,000	540,000,000	473,903,170	473,903,170	473,903,170
Cash & Assets
Total Assets	1.26B	1.20B	1.16B	1.15B	1.04B
Total Current Assets	318.57M	275.82M	205.86M	259.39M	171.63M
Cash & Equivalents	63.10M	122.41M	106.34M	164.66M	67.26M
Cash & Short-Term Investments	219.26M	196.47M	106.34M	165.00M	67.26M
Net Cash (Debt)	-157.09M	-197.26M	-295.91M	-144.10M	-249.15M
Net Cash Per Share	-0.29	-0.37	-0.55	-0.30	-0.53
Cash Growth	+11.6%	+84.8%	-35.6%	+145.3%	+34.2%
Accounts Receivable	26.11M	11.46M	27.98M	3.76M	—
Other Receivables	709.79K	716.43K	196.52K	—	219.31K
Receivables	26.82M	12.17M	28.23M	3.78M	0.22M
Inventory	62.01M	56.94M	55.97M	80.32M	95.97M
Prepaid Expenses	3.53M	3.81M	2.50M	2.03M	1.61M
Construction In Progress	22.09M	3.76M	7.49M	9.51M	12.77M
Buildings	247.05M	243.42M	242.41M	241.91M	233.19M
Machinery	526.21M	515.64M	505.40M	478.74M	461.46M
Property, Plant & Equipment	829.93M	854.36M	894.46M	835.75M	858.24M
Other Intangible Assets	58.05M	57.67M	56.72M	55.87M	5.56M
Other Current Assets	6.95M	6.43M	12.82M	8.26M	6.58M
Other Long-Term Assets	52.45M	9.43M	—	—	—
Long-Term Leases	363.18M	381.18M	379.27M	286.50M	294.17M
Current Portion of Leases	13.18M	12.55M	22.99M	22.59M	22.23M
Loans & Investments
Short-Term Investments	156.16M	74.06M	—	0.34M	—
Liabilities & Obligations
Total Liabilities	464.27M	483.90M	474.03M	395.86M	383.64M
Total Liabilities & Equity	1.26B	1.20B	1.16B	1.15B	1.04B
Total Current Liabilities	86.18M	88.32M	85.04M	107.94M	88.40M
Accounts Payable	29.74M	32.33M	22.40M	26.84M	46.90M
Accrued Expenses	23.32M	21.52M	26.73M	32.67M	13.13M
Current Income Taxes Payable	6.21M	7.48M	0.92M	13.85M	0.21M
Current Unearned Revenue	9.52M	9.86M	10.51M	9.40M	5.69M
Other Current Liabilities	4.22M	4.57M	1.49M	2.60M	0.24M
Pension & Post-Retirement Benefits	7.97M	5.62M	3.92M	1.42M	1.07M
Long-Term Deferred Tax Liabilities	6.95M	8.79M	5.81M	—	—
Debt & Funding
Total Debt	376.35M	393.73M	402.25M	309.10M	316.40M
Equity & Book Value
Shareholders' Equity	794.73M	713.37M	683.01M	755.15M	651.80M
Common Stock	540.00M	540.00M	473.90M	473.90M	473.90M
Retained Earnings	255.96M	173.97M	143.44M	281.24M	177.89M
Comprehensive Income & Other	-1.23M	-0.60M	65.67M	—	—
Book Value Per Share	1.47	1.32	1.44	1.59	1.38
Tangible Book Value	736.68M	655.71M	626.29M	699.28M	646.24M
Tangible Book Value Per Share	1.36	1.21	1.32	1.48	1.36
Filing Date Shares Outstanding	540.00M	540.00M	473.90M	473.90M	473.90M
Total Common Shares Outstanding	540.00M	540.00M	473.90M	473.90M	473.90M
Working Capital	232.40M	187.51M	120.83M	151.45M	83.24M