ETIHAD ETISALAT

Etihad Etisalat Co.

7020StocksTadawulTelecommunications

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	6.65B	6.34B	5.75B	5.68B	4.73B
Free Cash Flow	3.65B	3.75B	3.84B	3.35B	2.60B
Capital Expenditures	-3.01B	-2.59B	-1.91B	-2.33B	-2.13B
Investing & Financing
Investing Cash Flow	-1.49B	-1.96B	-2.02B	-3.41B	-2.92B
Financing Cash Flow	-3.40B	-4.62B	-2.92B	-2.50B	-1.69B
Dividends Paid	-1.88B	-1.76B	-0.85B	-0.64B	-0.38B
Share Repurchase	-159.22M	—	—	—	—
Operating Activities
Operating Cash Flow	6.65B	6.34B	5.75B	5.68B	4.73B
Net Income	3.47B	3.11B	2.23B	1.66B	1.07B
Change in Accounts Payable	-314.30M	-30.30M	55.42M	-239.69M	51.08M
Change in Accounts Receivable	-35.39M	-834.81M	-323.16M	-422.13M	-935.79M
Change in Inventory	69.63M	-64.61M	-51.76M	-12.49M	43.46M
Change in Other Net Operating Assets	-61.46M	433.25M	-21.54M	20.78M	125.47M
Change in Unearned Revenue	-180.24M	226.33M	91.00M	21.30M	-112.82M
Change in Working Capital	-521.76M	-270.13M	-250.04M	-632.24M	-828.59M
Other Operating Activities	39.87M	-266.71M	-41.54M	707.67M	380.71M
Provision & Write-off of Bad Debts	7.80M	146.32M	185.63M	111.65M	142.57M
Depreciation & Amortization	3.78B	3.66B	3.65B	3.85B	3.93B
Cash Interest Paid	389.60M	447.85M	507.60M	358.44M	299.51M
Cash Income Tax Paid	4.00M	2.00M	2.10M	2.00M	1.60M
Loss (Gain) on Equity Investments	-117.95M	-43.79M	-30.05M	-28.23M	18.85M
Investing Activities
Investing Cash Flow	-1.49B	-1.96B	-2.02B	-3.41B	-2.92B
Capital Expenditures	-3.01B	-2.59B	-1.91B	-2.33B	-2.13B
Investment in Securities	1.17B	0.34B	-0.12B	-1.01B	-0.70B
Other Investing Activities	565.68M	371.83M	132.05M	37.85M	2.90M
Sale (Purchase) of Intangibles	-220.80M	-82.43M	-119.94M	-101.50M	-87.24M
Sale of Property, Plant & Equipment	1.56M	0.43M	2.53M	0.68M	0.33M
Loss (Gain) From Sale of Assets	—	—	8.83M	17.55M	17.78M
Financing Activities
Financing Cash Flow	-3.40B	-4.62B	-2.92B	-2.50B	-1.69B
Common Dividends Paid	-1.88B	-1.76B	-0.85B	-0.64B	-0.38B
Repurchase of Common Stock	-159.22M	—	—	—	—
Long-Term Debt Issued	—	4.14B	—	—	0.70B
Long-Term Debt Repaid	-1.37B	-6.99B	-2.07B	-1.86B	-2.01B
Net Debt Issued (Repaid)	-1.37B	-2.86B	-2.07B	-1.86B	-1.31B
Free Cash Flow & Returns
Free Cash Flow	3.65B	3.75B	3.84B	3.35B	2.60B
Free Cash Flow Growth	-2.7%	-2.4%	+14.5%	+29.2%	+224.4%
Free Cash Flow Margin	+18.6%	+20.6%	+22.9%	+21.3%	+17.5%
Free Cash Flow Per Share	4.74	4.87	4.99	4.36	3.37
Levered Free Cash Flow	3.09B	2.58B	3.28B	2.06B	1.73B
Unlevered Free Cash Flow	3.44B	2.95B	3.70B	2.42B	2.03B
Operating Cash Flow Growth	+5.0%	+10.2%	+1.2%	+20.2%	+13.4%
Net Cash Flow	1.76B	-0.24B	0.81B	-0.22B	0.12B

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	6.65B	6.34B	5.75B	5.68B	4.73B
Free Cash Flow	3.65B	3.75B	3.84B	3.35B	2.60B
Capital Expenditures	-3.01B	-2.59B	-1.91B	-2.33B	-2.13B
Investing & Financing
Investing Cash Flow	-1.49B	-1.96B	-2.02B	-3.41B	-2.92B
Financing Cash Flow	-3.40B	-4.62B	-2.92B	-2.50B	-1.69B
Dividends Paid	-1.88B	-1.76B	-0.85B	-0.64B	-0.38B
Share Repurchase	-159.22M	—	—	—	—
Operating Activities
Operating Cash Flow	6.65B	6.34B	5.75B	5.68B	4.73B
Net Income	3.47B	3.11B	2.23B	1.66B	1.07B
Change in Accounts Payable	-314.30M	-30.30M	55.42M	-239.69M	51.08M
Change in Accounts Receivable	-35.39M	-834.81M	-323.16M	-422.13M	-935.79M
Change in Inventory	69.63M	-64.61M	-51.76M	-12.49M	43.46M
Change in Other Net Operating Assets	-61.46M	433.25M	-21.54M	20.78M	125.47M
Change in Unearned Revenue	-180.24M	226.33M	91.00M	21.30M	-112.82M
Change in Working Capital	-521.76M	-270.13M	-250.04M	-632.24M	-828.59M
Other Operating Activities	39.87M	-266.71M	-41.54M	707.67M	380.71M
Provision & Write-off of Bad Debts	7.80M	146.32M	185.63M	111.65M	142.57M
Depreciation & Amortization	3.78B	3.66B	3.65B	3.85B	3.93B
Cash Interest Paid	389.60M	447.85M	507.60M	358.44M	299.51M
Cash Income Tax Paid	4.00M	2.00M	2.10M	2.00M	1.60M
Loss (Gain) on Equity Investments	-117.95M	-43.79M	-30.05M	-28.23M	18.85M
Investing Activities
Investing Cash Flow	-1.49B	-1.96B	-2.02B	-3.41B	-2.92B
Capital Expenditures	-3.01B	-2.59B	-1.91B	-2.33B	-2.13B
Investment in Securities	1.17B	0.34B	-0.12B	-1.01B	-0.70B
Other Investing Activities	565.68M	371.83M	132.05M	37.85M	2.90M
Sale (Purchase) of Intangibles	-220.80M	-82.43M	-119.94M	-101.50M	-87.24M
Sale of Property, Plant & Equipment	1.56M	0.43M	2.53M	0.68M	0.33M
Loss (Gain) From Sale of Assets	—	—	8.83M	17.55M	17.78M
Financing Activities
Financing Cash Flow	-3.40B	-4.62B	-2.92B	-2.50B	-1.69B
Common Dividends Paid	-1.88B	-1.76B	-0.85B	-0.64B	-0.38B
Repurchase of Common Stock	-159.22M	—	—	—	—
Long-Term Debt Issued	—	4.14B	—	—	0.70B
Long-Term Debt Repaid	-1.37B	-6.99B	-2.07B	-1.86B	-2.01B
Net Debt Issued (Repaid)	-1.37B	-2.86B	-2.07B	-1.86B	-1.31B
Free Cash Flow & Returns
Free Cash Flow	3.65B	3.75B	3.84B	3.35B	2.60B
Free Cash Flow Growth	-2.7%	-2.4%	+14.5%	+29.2%	+224.4%
Free Cash Flow Margin	+18.6%	+20.6%	+22.9%	+21.3%	+17.5%
Free Cash Flow Per Share	4.74	4.87	4.99	4.36	3.37
Levered Free Cash Flow	3.09B	2.58B	3.28B	2.06B	1.73B
Unlevered Free Cash Flow	3.44B	2.95B	3.70B	2.42B	2.03B
Operating Cash Flow Growth	+5.0%	+10.2%	+1.2%	+20.2%	+13.4%
Net Cash Flow	1.76B	-0.24B	0.81B	-0.22B	0.12B