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
Operating Summary
Revenue	10.35B	9.48B	8.78B	8.58B	5.35B
Cost of Revenue	7.55B	7.14B	6.88B	7.22B	4.93B
Gross Profit	2.80B	2.34B	1.90B	1.36B	0.42B
SG&A	451.80M	299.33M	223.89M	187.31M	154.22M
Operating Expenses	71.05M	-46.77M	-57.14M	41.66M	-1.09M
Operating Income	2.73B	2.39B	1.96B	1.32B	0.42B
Interest Income	67.40M	86.08M	79.62M	10.14M	1.51M
Interest Expense	-707.73M	-585.93M	-635.48M	-337.00M	-180.37M
Other Income/Expense	—	-35.72M	13.83M	39.59M	0.35M
Pretax Income	2.65B	2.50B	1.89B	1.26B	0.29B
Income Tax	92.17M	115.18M	100.84M	92.93M	58.01M
Net Income	2.43B	2.17B	1.61B	1.04B	0.19B
EBITDA	4.28B	3.61B	3.16B	2.53B	1.51B
EBIT	2.73B	2.39B	1.96B	1.32B	0.42B
EPS (Basic)	2.63	2.35	1.75	1.13	0.21
EPS (Diluted)	2.63	2.35	1.75	1.13	0.21
DPS	—	0.80	0.44	0.27	0.43
Margins & Efficiency
Gross Margin %	+27.0%	+24.7%	+21.6%	+15.9%	+7.9%
EBITDA Margin %	+41.4%	+38.0%	+36.0%	+29.5%	+28.3%
Net Margin %	+23.5%	+22.9%	+18.4%	+12.1%	+3.6%
Revenue & Income
Revenue	10.35B	9.48B	8.78B	8.58B	5.35B
Revenue Growth (YoY)	+9.1%	+8.0%	+2.3%	+60.4%	-36.2%
Interest & Investment Income	67.40M	86.08M	79.62M	10.14M	1.51M
Earnings From Equity Investments	566.43M	432.56M	266.17M	59.64M	46.84M
Gain (Loss) on Sale of Assets	—	215.92M	214.08M	159.84M	0.06M
Gain (Loss) on Sale of Investments	—	—	—	—	956.00K
Expenses & Provisions
Cost of Revenue	7.55B	7.14B	6.88B	7.22B	4.93B
Selling, General & Admin	451.80M	299.33M	223.89M	187.31M	154.22M
Operating Expenses	71.05M	-46.77M	-57.14M	41.66M	-1.09M
Other Operating Expenses	-408.53M	-366.49M	-283.59M	-120.04M	-157.33M
Interest Expense	-707.73M	-585.93M	-635.48M	-337.00M	-180.37M
Other Non Operating Income (Expenses)	—	-35.72M	13.83M	39.59M	0.35M
D&A For EBITDA	1.56B	1.22B	1.21B	1.21B	1.09B
Profitability & Returns
Gross Profit	2.80B	2.34B	1.90B	1.36B	0.42B
Gross Margin	+27.0%	+24.7%	+21.6%	+15.9%	+7.9%
EBIT	2.73B	2.39B	1.96B	1.32B	0.42B
EBIT Margin	+26.3%	+25.2%	+22.3%	+15.4%	+7.9%
EBITDA	4.28B	3.61B	3.16B	2.53B	1.51B
EBITDA Margin	+41.4%	+38.0%	+36.0%	+29.5%	+28.3%
EBT Excluding Unusual Items	2.65B	2.29B	1.68B	1.10B	0.29B
Pretax Income	2.65B	2.50B	1.89B	1.26B	0.29B
Operating Income	2.73B	2.39B	1.96B	1.32B	0.42B
Operating Margin	+26.3%	+25.2%	+22.3%	+15.4%	+7.9%
Profit Margin	+23.5%	+22.9%	+18.4%	+12.1%	+3.6%
Net Income	2.43B	2.17B	1.61B	1.04B	0.19B
Net Income to Common	2.43B	2.17B	1.61B	1.04B	0.19B
Net Income Growth	+12.1%	+34.5%	+55.0%	+440.9%	-87.8%
Earnings From Continuing Ops.	2.56B	2.39B	1.79B	1.16B	0.23B
Minority Interest in Earnings	-128.13M	-216.41M	-179.58M	-121.69M	-41.20M
Income Tax Expense	92.17M	115.18M	100.84M	92.93M	58.01M
Effective Tax Rate	+3.5%	+4.6%	+5.3%	+7.4%	+19.9%
Per Share & Capital
EPS (Basic)	2.63	2.35	1.75	1.13	0.21
EPS (Diluted)	2.63	2.35	1.75	1.13	0.21
EPS Growth	+12.1%	+34.5%	+55.0%	+440.9%	-87.8%
Dividend Per Share	—	0.80	0.44	0.27	0.43
Shares Change (YoY)	0	—	—	0	0
Shares Outstanding (Basic)	922.85M	922.85M	922.85M	922.85M	922.85M
Shares Outstanding (Diluted)	922.85M	922.85M	922.85M	922.85M	922.85M
Dividend Growth	—	+81.8%	+65.0%	-37.5%	-50.0%
Free Cash Flow	-0.99B	-2.06B	1.92B	0.68B	-0.34B
Free Cash Flow Margin	-9.5%	-21.8%	+21.9%	+8.0%	-6.4%
Free Cash Flow Per Share	-1.07	-2.24	2.08	0.74	-0.37
Payout Ratio	+30.4%	+18.7%	+15.3%	—	+409.2%

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
Operating Summary
Revenue	10.35B	9.48B	8.78B	8.58B	5.35B
Cost of Revenue	7.55B	7.14B	6.88B	7.22B	4.93B
Gross Profit	2.80B	2.34B	1.90B	1.36B	0.42B
SG&A	451.80M	299.33M	223.89M	187.31M	154.22M
Operating Expenses	71.05M	-46.77M	-57.14M	41.66M	-1.09M
Operating Income	2.73B	2.39B	1.96B	1.32B	0.42B
Interest Income	67.40M	86.08M	79.62M	10.14M	1.51M
Interest Expense	-707.73M	-585.93M	-635.48M	-337.00M	-180.37M
Other Income/Expense	—	-35.72M	13.83M	39.59M	0.35M
Pretax Income	2.65B	2.50B	1.89B	1.26B	0.29B
Income Tax	92.17M	115.18M	100.84M	92.93M	58.01M
Net Income	2.43B	2.17B	1.61B	1.04B	0.19B
EBITDA	4.28B	3.61B	3.16B	2.53B	1.51B
EBIT	2.73B	2.39B	1.96B	1.32B	0.42B
EPS (Basic)	2.63	2.35	1.75	1.13	0.21
EPS (Diluted)	2.63	2.35	1.75	1.13	0.21
DPS	—	0.80	0.44	0.27	0.43
Margins & Efficiency
Gross Margin %	+27.0%	+24.7%	+21.6%	+15.9%	+7.9%
EBITDA Margin %	+41.4%	+38.0%	+36.0%	+29.5%	+28.3%
Net Margin %	+23.5%	+22.9%	+18.4%	+12.1%	+3.6%
Revenue & Income
Revenue	10.35B	9.48B	8.78B	8.58B	5.35B
Revenue Growth (YoY)	+9.1%	+8.0%	+2.3%	+60.4%	-36.2%
Interest & Investment Income	67.40M	86.08M	79.62M	10.14M	1.51M
Earnings From Equity Investments	566.43M	432.56M	266.17M	59.64M	46.84M
Gain (Loss) on Sale of Assets	—	215.92M	214.08M	159.84M	0.06M
Gain (Loss) on Sale of Investments	—	—	—	—	956.00K
Expenses & Provisions
Cost of Revenue	7.55B	7.14B	6.88B	7.22B	4.93B
Selling, General & Admin	451.80M	299.33M	223.89M	187.31M	154.22M
Operating Expenses	71.05M	-46.77M	-57.14M	41.66M	-1.09M
Other Operating Expenses	-408.53M	-366.49M	-283.59M	-120.04M	-157.33M
Interest Expense	-707.73M	-585.93M	-635.48M	-337.00M	-180.37M
Other Non Operating Income (Expenses)	—	-35.72M	13.83M	39.59M	0.35M
D&A For EBITDA	1.56B	1.22B	1.21B	1.21B	1.09B
Profitability & Returns
Gross Profit	2.80B	2.34B	1.90B	1.36B	0.42B
Gross Margin	+27.0%	+24.7%	+21.6%	+15.9%	+7.9%
EBIT	2.73B	2.39B	1.96B	1.32B	0.42B
EBIT Margin	+26.3%	+25.2%	+22.3%	+15.4%	+7.9%
EBITDA	4.28B	3.61B	3.16B	2.53B	1.51B
EBITDA Margin	+41.4%	+38.0%	+36.0%	+29.5%	+28.3%
EBT Excluding Unusual Items	2.65B	2.29B	1.68B	1.10B	0.29B
Pretax Income	2.65B	2.50B	1.89B	1.26B	0.29B
Operating Income	2.73B	2.39B	1.96B	1.32B	0.42B
Operating Margin	+26.3%	+25.2%	+22.3%	+15.4%	+7.9%
Profit Margin	+23.5%	+22.9%	+18.4%	+12.1%	+3.6%
Net Income	2.43B	2.17B	1.61B	1.04B	0.19B
Net Income to Common	2.43B	2.17B	1.61B	1.04B	0.19B
Net Income Growth	+12.1%	+34.5%	+55.0%	+440.9%	-87.8%
Earnings From Continuing Ops.	2.56B	2.39B	1.79B	1.16B	0.23B
Minority Interest in Earnings	-128.13M	-216.41M	-179.58M	-121.69M	-41.20M
Income Tax Expense	92.17M	115.18M	100.84M	92.93M	58.01M
Effective Tax Rate	+3.5%	+4.6%	+5.3%	+7.4%	+19.9%
Per Share & Capital
EPS (Basic)	2.63	2.35	1.75	1.13	0.21
EPS (Diluted)	2.63	2.35	1.75	1.13	0.21
EPS Growth	+12.1%	+34.5%	+55.0%	+440.9%	-87.8%
Dividend Per Share	—	0.80	0.44	0.27	0.43
Shares Change (YoY)	0	—	—	0	0
Shares Outstanding (Basic)	922.85M	922.85M	922.85M	922.85M	922.85M
Shares Outstanding (Diluted)	922.85M	922.85M	922.85M	922.85M	922.85M
Dividend Growth	—	+81.8%	+65.0%	-37.5%	-50.0%
Free Cash Flow	-0.99B	-2.06B	1.92B	0.68B	-0.34B
Free Cash Flow Margin	-9.5%	-21.8%	+21.9%	+8.0%	-6.4%
Free Cash Flow Per Share	-1.07	-2.24	2.08	0.74	-0.37
Payout Ratio	+30.4%	+18.7%	+15.3%	—	+409.2%