BAHRI

National Shipping Co. of Saudi Arabia

4030StocksTadawulTransportation

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	3.21B	3.41B	3.56B	1.99B	0.81B
Free Cash Flow	-1.03B	-2.06B	1.92B	0.68B	-0.34B
Capital Expenditures	-4.24B	-5.47B	-1.64B	-1.31B	-1.15B
Investing & Financing
Investing Cash Flow	-5.64B	-4.64B	-0.88B	-0.39B	-1.41B
Financing Cash Flow	1.69B	0.15B	-2.29B	-0.25B	-0.19B
Dividends Paid	-738.28M	-406.06M	-246.10M	—	-787.50M
Operating Activities
Operating Cash Flow	3.21B	3.41B	3.56B	1.99B	0.81B
Net Income	2.43B	2.17B	1.61B	1.04B	0.19B
Change in Accounts Payable	226.41M	59.41M	207.13M	120.49M	10.25M
Change in Accounts Receivable	-746.73M	4.23M	768.46M	-659.91M	-350.19M
Change in Inventory	20.98M	30.31M	12.82M	-31.34M	-192.14M
Change in Other Net Operating Assets	-161.83M	-81.16M	-111.73M	203.19M	-53.48M
Change in Working Capital	-661.17M	12.79M	876.68M	-367.56M	-585.56M
Other Operating Activities	47.11M	180.99M	142.49M	230.53M	45.77M
Provision & Write-off of Bad Debts	27.78M	20.39M	2.56M	-25.61M	2.03M
Depreciation & Amortization	1.94B	1.67B	1.41B	1.33B	1.20B
Cash Interest Paid	701.26M	577.45M	—	227.62M	177.86M
Loss (Gain) on Equity Investments	-566.43M	-432.56M	-266.17M	-59.64M	-46.84M
Investing Activities
Investing Cash Flow	-5.64B	-4.64B	-0.88B	-0.39B	-1.41B
Capital Expenditures	-4.24B	-5.47B	-1.64B	-1.31B	-1.15B
Investment in Securities	-1.82B	0.00B	-0.09B	0.11B	-0.26B
Other Investing Activities	271.55M	309.79M	167.59M	113.64M	—
Sale (Purchase) of Intangibles	-7.72M	-9.20M	-6.45M	-4.77M	-3.55M
Sale of Property, Plant & Equipment	161.77M	524.18M	685.21M	694.26M	0.06M
Loss (Gain) From Sale of Assets	-5.81M	-215.92M	-214.08M	-159.84M	-0.06M
Loss (Gain) on Sale of Investments	—	—	—	-1.52M	-0.96M
Financing Activities
Financing Cash Flow	1.69B	0.15B	-2.29B	-0.25B	-0.19B
Common Dividends Paid	-738.28M	-406.06M	-246.10M	—	-787.50M
Long-Term Debt Issued	4.94B	2.53B	0.89B	5.00B	1.45B
Total Debt Issued	4.94B	2.53B	0.89B	5.00B	1.45B
Long-Term Debt Repaid	-2.40B	-1.91B	-2.94B	-5.20B	-0.85B
Total Debt Repaid	-2.40B	-1.91B	-2.94B	-5.20B	-0.85B
Net Debt Issued (Repaid)	2.54B	0.61B	-2.05B	-0.20B	0.60B
Other Financing Activities	-120.00M	-60.00M	—	-41.40M	-2.81M
Free Cash Flow & Returns
Free Cash Flow	-1.03B	-2.06B	1.92B	0.68B	-0.34B
Free Cash Flow Growth	—	—	+180.7%	—	—
Free Cash Flow Margin	-9.9%	-21.8%	+21.9%	+8.0%	-6.4%
Free Cash Flow Per Share	-1.12	-2.24	2.08	0.74	-0.37
Levered Free Cash Flow	-1.77B	-2.56B	1.50B	0.39B	-0.40B
Unlevered Free Cash Flow	-1.33B	-2.19B	1.90B	0.60B	-0.28B
Operating Cash Flow Growth	-5.6%	-4.4%	+79.0%	+147.0%	-78.6%
Net Cash Flow	-0.74B	-1.09B	0.38B	1.35B	-0.80B

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	3.21B	3.41B	3.56B	1.99B	0.81B
Free Cash Flow	-1.03B	-2.06B	1.92B	0.68B	-0.34B
Capital Expenditures	-4.24B	-5.47B	-1.64B	-1.31B	-1.15B
Investing & Financing
Investing Cash Flow	-5.64B	-4.64B	-0.88B	-0.39B	-1.41B
Financing Cash Flow	1.69B	0.15B	-2.29B	-0.25B	-0.19B
Dividends Paid	-738.28M	-406.06M	-246.10M	—	-787.50M
Operating Activities
Operating Cash Flow	3.21B	3.41B	3.56B	1.99B	0.81B
Net Income	2.43B	2.17B	1.61B	1.04B	0.19B
Change in Accounts Payable	226.41M	59.41M	207.13M	120.49M	10.25M
Change in Accounts Receivable	-746.73M	4.23M	768.46M	-659.91M	-350.19M
Change in Inventory	20.98M	30.31M	12.82M	-31.34M	-192.14M
Change in Other Net Operating Assets	-161.83M	-81.16M	-111.73M	203.19M	-53.48M
Change in Working Capital	-661.17M	12.79M	876.68M	-367.56M	-585.56M
Other Operating Activities	47.11M	180.99M	142.49M	230.53M	45.77M
Provision & Write-off of Bad Debts	27.78M	20.39M	2.56M	-25.61M	2.03M
Depreciation & Amortization	1.94B	1.67B	1.41B	1.33B	1.20B
Cash Interest Paid	701.26M	577.45M	—	227.62M	177.86M
Loss (Gain) on Equity Investments	-566.43M	-432.56M	-266.17M	-59.64M	-46.84M
Investing Activities
Investing Cash Flow	-5.64B	-4.64B	-0.88B	-0.39B	-1.41B
Capital Expenditures	-4.24B	-5.47B	-1.64B	-1.31B	-1.15B
Investment in Securities	-1.82B	0.00B	-0.09B	0.11B	-0.26B
Other Investing Activities	271.55M	309.79M	167.59M	113.64M	—
Sale (Purchase) of Intangibles	-7.72M	-9.20M	-6.45M	-4.77M	-3.55M
Sale of Property, Plant & Equipment	161.77M	524.18M	685.21M	694.26M	0.06M
Loss (Gain) From Sale of Assets	-5.81M	-215.92M	-214.08M	-159.84M	-0.06M
Loss (Gain) on Sale of Investments	—	—	—	-1.52M	-0.96M
Financing Activities
Financing Cash Flow	1.69B	0.15B	-2.29B	-0.25B	-0.19B
Common Dividends Paid	-738.28M	-406.06M	-246.10M	—	-787.50M
Long-Term Debt Issued	4.94B	2.53B	0.89B	5.00B	1.45B
Total Debt Issued	4.94B	2.53B	0.89B	5.00B	1.45B
Long-Term Debt Repaid	-2.40B	-1.91B	-2.94B	-5.20B	-0.85B
Total Debt Repaid	-2.40B	-1.91B	-2.94B	-5.20B	-0.85B
Net Debt Issued (Repaid)	2.54B	0.61B	-2.05B	-0.20B	0.60B
Other Financing Activities	-120.00M	-60.00M	—	-41.40M	-2.81M
Free Cash Flow & Returns
Free Cash Flow	-1.03B	-2.06B	1.92B	0.68B	-0.34B
Free Cash Flow Growth	—	—	+180.7%	—	—
Free Cash Flow Margin	-9.9%	-21.8%	+21.9%	+8.0%	-6.4%
Free Cash Flow Per Share	-1.12	-2.24	2.08	0.74	-0.37
Levered Free Cash Flow	-1.77B	-2.56B	1.50B	0.39B	-0.40B
Unlevered Free Cash Flow	-1.33B	-2.19B	1.90B	0.60B	-0.28B
Operating Cash Flow Growth	-5.6%	-4.4%	+79.0%	+147.0%	-78.6%
Net Cash Flow	-0.74B	-1.09B	0.38B	1.35B	-0.80B