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
Operating Summary
Revenue	19.64B	18.21B	16.76B	15.72B	14.83B
Cost of Revenue	8.90B	8.31B	7.51B	6.34B	6.16B
Gross Profit	10.74B	9.89B	9.25B	9.38B	8.67B
SG&A	3.11B	2.55B	2.44B	3.09B	2.95B
Operating Expenses	6.89B	6.36B	6.28B	7.05B	7.02B
Operating Income	3.85B	3.53B	2.98B	2.33B	1.65B
Interest Income	202.61M	174.74M	158.17M	45.99M	5.20M
Interest Expense	-557.66M	-596.52M	-664.25M	-582.86M	-483.58M
Other Income/Expense	-52.70M	45.96M	-43.23M	-23.01M	-5.85M
Pretax Income	3.56B	3.19B	2.45B	1.78B	1.15B
Income Tax	89.97M	86.21M	217.19M	121.83M	79.38M
Net Income	3.47B	3.11B	2.23B	1.66B	1.07B
EBITDA	6.98B	6.58B	6.03B	5.58B	5.58B
EBIT	3.85B	3.53B	2.98B	2.33B	1.65B
EPS (Basic)	4.51	4.03	2.90	2.15	1.39
EPS (Diluted)	4.50	4.03	2.90	2.15	1.39
DPS	—	2.20	1.45	1.15	0.85
Margins & Efficiency
Gross Margin %	+54.7%	+54.3%	+55.2%	+59.7%	+58.5%
EBITDA Margin %	+35.6%	+36.2%	+36.0%	+35.5%	+37.6%
Net Margin %	+17.6%	+17.1%	+13.3%	+10.5%	+7.2%
Revenue & Income
Revenue	19.64B	18.21B	16.76B	15.72B	14.83B
Revenue Growth (YoY)	+7.9%	+8.6%	+6.7%	+6.0%	+5.6%
Interest & Investment Income	202.61M	174.74M	158.17M	45.99M	5.20M
Earnings From Equity Investments	117.95M	43.79M	30.05M	28.23M	-18.85M
Gain (Loss) on Sale of Assets	-0.83M	-5.34M	-8.83M	-17.60M	—
Expenses & Provisions
Cost of Revenue	8.90B	8.31B	7.51B	6.34B	6.16B
Selling, General & Admin	3.11B	2.55B	2.44B	3.09B	2.95B
Operating Expenses	6.89B	6.36B	6.28B	7.05B	7.02B
Interest Expense	-557.66M	-596.52M	-664.25M	-582.86M	-483.58M
Other Non Operating Income (Expenses)	-52.70M	45.96M	-43.23M	-23.01M	-5.85M
D&A For EBITDA	3.14B	3.05B	3.05B	3.25B	3.93B
Profitability & Returns
Gross Profit	10.74B	9.89B	9.25B	9.38B	8.67B
Gross Margin	+54.7%	+54.3%	+55.2%	+59.7%	+58.5%
EBIT	3.85B	3.53B	2.98B	2.33B	1.65B
EBIT Margin	+19.6%	+19.4%	+17.8%	+14.8%	+11.2%
EBITDA	6.98B	6.58B	6.03B	5.58B	5.58B
EBITDA Margin	+35.6%	+36.2%	+36.0%	+35.5%	+37.6%
EBT Excluding Unusual Items	3.56B	3.20B	2.46B	1.80B	1.15B
Pretax Income	3.56B	3.19B	2.45B	1.78B	1.15B
Operating Income	3.85B	3.53B	2.98B	2.33B	1.65B
Operating Margin	+19.6%	+19.4%	+17.8%	+14.8%	+11.2%
Profit Margin	+17.6%	+17.1%	+13.3%	+10.5%	+7.2%
Net Income	3.47B	3.11B	2.23B	1.66B	1.07B
Net Income to Common	3.47B	3.11B	2.23B	1.66B	1.07B
Net Income Growth	+11.6%	+39.2%	+34.7%	+54.6%	+36.8%
Income Tax Expense	89.97M	86.21M	217.19M	121.83M	79.38M
Effective Tax Rate	+2.5%	+2.7%	+8.9%	+6.8%	+6.9%
Per Share & Capital
EPS (Basic)	4.51	4.03	2.90	2.15	1.39
EPS (Diluted)	4.50	4.03	2.90	2.15	1.39
EPS Growth	+11.7%	+39.0%	+34.7%	+54.6%	+36.8%
Dividend Per Share	—	2.20	1.45	1.15	0.85
Shares Outstanding (Basic)	769.05M	770.00M	770.00M	770.00M	770.00M
Shares Outstanding (Diluted)	770.00M	770.00M	770.00M	770.00M	770.00M
Dividend Growth	—	+51.7%	+26.1%	+35.3%	+70.0%
Free Cash Flow	3.65B	3.75B	3.84B	3.35B	2.60B
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
Payout Ratio	+54.1%	+56.8%	+38.2%	+38.6%	+35.2%

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	19.64B	18.21B	16.76B	15.72B	14.83B
Cost of Revenue	8.90B	8.31B	7.51B	6.34B	6.16B
Gross Profit	10.74B	9.89B	9.25B	9.38B	8.67B
SG&A	3.11B	2.55B	2.44B	3.09B	2.95B
Operating Expenses	6.89B	6.36B	6.28B	7.05B	7.02B
Operating Income	3.85B	3.53B	2.98B	2.33B	1.65B
Interest Income	202.61M	174.74M	158.17M	45.99M	5.20M
Interest Expense	-557.66M	-596.52M	-664.25M	-582.86M	-483.58M
Other Income/Expense	-52.70M	45.96M	-43.23M	-23.01M	-5.85M
Pretax Income	3.56B	3.19B	2.45B	1.78B	1.15B
Income Tax	89.97M	86.21M	217.19M	121.83M	79.38M
Net Income	3.47B	3.11B	2.23B	1.66B	1.07B
EBITDA	6.98B	6.58B	6.03B	5.58B	5.58B
EBIT	3.85B	3.53B	2.98B	2.33B	1.65B
EPS (Basic)	4.51	4.03	2.90	2.15	1.39
EPS (Diluted)	4.50	4.03	2.90	2.15	1.39
DPS	—	2.20	1.45	1.15	0.85
Margins & Efficiency
Gross Margin %	+54.7%	+54.3%	+55.2%	+59.7%	+58.5%
EBITDA Margin %	+35.6%	+36.2%	+36.0%	+35.5%	+37.6%
Net Margin %	+17.6%	+17.1%	+13.3%	+10.5%	+7.2%
Revenue & Income
Revenue	19.64B	18.21B	16.76B	15.72B	14.83B
Revenue Growth (YoY)	+7.9%	+8.6%	+6.7%	+6.0%	+5.6%
Interest & Investment Income	202.61M	174.74M	158.17M	45.99M	5.20M
Earnings From Equity Investments	117.95M	43.79M	30.05M	28.23M	-18.85M
Gain (Loss) on Sale of Assets	-0.83M	-5.34M	-8.83M	-17.60M	—
Expenses & Provisions
Cost of Revenue	8.90B	8.31B	7.51B	6.34B	6.16B
Selling, General & Admin	3.11B	2.55B	2.44B	3.09B	2.95B
Operating Expenses	6.89B	6.36B	6.28B	7.05B	7.02B
Interest Expense	-557.66M	-596.52M	-664.25M	-582.86M	-483.58M
Other Non Operating Income (Expenses)	-52.70M	45.96M	-43.23M	-23.01M	-5.85M
D&A For EBITDA	3.14B	3.05B	3.05B	3.25B	3.93B
Profitability & Returns
Gross Profit	10.74B	9.89B	9.25B	9.38B	8.67B
Gross Margin	+54.7%	+54.3%	+55.2%	+59.7%	+58.5%
EBIT	3.85B	3.53B	2.98B	2.33B	1.65B
EBIT Margin	+19.6%	+19.4%	+17.8%	+14.8%	+11.2%
EBITDA	6.98B	6.58B	6.03B	5.58B	5.58B
EBITDA Margin	+35.6%	+36.2%	+36.0%	+35.5%	+37.6%
EBT Excluding Unusual Items	3.56B	3.20B	2.46B	1.80B	1.15B
Pretax Income	3.56B	3.19B	2.45B	1.78B	1.15B
Operating Income	3.85B	3.53B	2.98B	2.33B	1.65B
Operating Margin	+19.6%	+19.4%	+17.8%	+14.8%	+11.2%
Profit Margin	+17.6%	+17.1%	+13.3%	+10.5%	+7.2%
Net Income	3.47B	3.11B	2.23B	1.66B	1.07B
Net Income to Common	3.47B	3.11B	2.23B	1.66B	1.07B
Net Income Growth	+11.6%	+39.2%	+34.7%	+54.6%	+36.8%
Income Tax Expense	89.97M	86.21M	217.19M	121.83M	79.38M
Effective Tax Rate	+2.5%	+2.7%	+8.9%	+6.8%	+6.9%
Per Share & Capital
EPS (Basic)	4.51	4.03	2.90	2.15	1.39
EPS (Diluted)	4.50	4.03	2.90	2.15	1.39
EPS Growth	+11.7%	+39.0%	+34.7%	+54.6%	+36.8%
Dividend Per Share	—	2.20	1.45	1.15	0.85
Shares Outstanding (Basic)	769.05M	770.00M	770.00M	770.00M	770.00M
Shares Outstanding (Diluted)	770.00M	770.00M	770.00M	770.00M	770.00M
Dividend Growth	—	+51.7%	+26.1%	+35.3%	+70.0%
Free Cash Flow	3.65B	3.75B	3.84B	3.35B	2.60B
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
Payout Ratio	+54.1%	+56.8%	+38.2%	+38.6%	+35.2%