ALETIHAD

Al-Etihad Cooperative Insurance Co.

8170StocksTadawulInsurance

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
Operating Summary
Revenue	1.19B	1.35B	1.17B	1.03B	0.79B
Operating Expenses	1.43B	1.30B	1.06B	1.00B	0.74B
Pretax Income	-232.66M	57.13M	103.90M	31.20M	48.43M
Income Tax	11.78M	8.00M	10.00M	18.50M	15.00M
Net Income	-244.44M	49.13M	93.90M	12.70M	33.43M
Premium Revenue	1.15B	1.33B	1.11B	1.01B	0.74B
Policy Benefits	1.22B	1.16B	0.89B	0.90B	0.56B
Policy Cost	200.79M	189.47M	166.18M	136.01M	87.29M
EPS (Basic)	-4.89	0.98	1.88	0.25	0.67
EPS (Diluted)	-4.89	0.98	1.88	0.25	0.67
DPS	—	0.60	0.54	—	—
Margins & Efficiency
Net Margin %	-20.6%	+3.6%	+8.0%	+1.2%	+4.2%
Revenue & Income
Revenue Growth (YoY)	-12.3%	+15.8%	+13.6%	+30.3%	+12.5%
Revenue Insurance	1.19B	1.35B	1.17B	1.03B	0.79B
Premiums Annuity Rev	1.15B	1.33B	1.11B	1.01B	0.74B
Other Revenue Insurance	—	—	—	—	23.75M
Gain Investment Rev Insurance	-12.40M	-29.49M	13.64M	-3.00M	21.28M
Expenses & Provisions
SG&A Insurance	3.31M	3.91M	5.77M	5.68M	87.44M
Other Opex Insurance	3.37M	-60.83M	-9.62M	-53.73M	14.09M
Total Opex Insurance	1.43B	1.30B	1.06B	1.00B	0.74B
Interest Expense	-219.00K	-199.00K	-257.00K	-253.00K	-134.27K
Other Non Operating Income (Expenses)	6.60M	3.57M	—	—	—
Policy Benefits	1.22B	1.16B	0.89B	0.90B	0.56B
Policy Cost	200.79M	189.47M	166.18M	136.01M	87.29M
Provision for Bad Debts	—	—	—	—	-8.25M
D&A For EBITDA	6.32M	4.10M	3.29M	3.46M	3.42M
Da Suppl Insurance	368.00K	459.00K	442.00K	545.00K	—
Deferred Policy Acquisition Cost	—	—	—	—	34.26M
Profitability & Returns
EBIT	-239.04M	53.77M	104.15M	31.46M	48.57M
EBIT Margin	-20.1%	+4.0%	+8.9%	+3.1%	+6.2%
EBITDA	-232.72M	57.86M	107.45M	34.92M	51.98M
EBITDA Margin	-19.6%	+4.3%	+9.2%	+3.4%	+6.6%
Pretax Income	-232.66M	57.13M	103.90M	31.20M	48.43M
Opinc Insurance	-239.04M	53.77M	104.15M	31.46M	48.57M
Operating Margin	-20.1%	+4.0%	+8.9%	+3.1%	+6.2%
Profit Margin	-20.6%	+3.6%	+8.0%	+1.2%	+4.2%
Net Income	-244.44M	49.13M	93.90M	12.70M	33.43M
Net Income to Common	-244.44M	49.13M	93.90M	12.70M	33.43M
Net Income Growth	—	-47.7%	+639.2%	-62.0%	+21.1%
Income Tax Expense	11.78M	8.00M	10.00M	18.50M	15.00M
Effective Tax Rate	—	+14.0%	+9.6%	+59.3%	+31.0%
Per Share & Capital
EPS (Basic)	-4.89	0.98	1.88	0.25	0.67
EPS (Diluted)	-4.89	0.98	1.88	0.25	0.67
EPS Growth	—	-47.9%	+646.0%	-62.3%	+21.1%
Dividend Per Share	—	0.60	0.54	—	—
Shares Change (YoY)	—	0	-0.01	0.01	—
Shares Outstanding (Basic)	50.00M	50.00M	49.94M	50.40M	50.00M
Shares Outstanding (Diluted)	50.00M	50.00M	49.94M	50.40M	50.00M
Dividend Growth	—	+11.1%	—	—	—
Free Cash Flow	-236.44M	-320.45M	271.22M	89.39M	154.21M
Free Cash Flow Margin	-19.9%	-23.7%	+23.2%	+8.7%	+19.5%
Free Cash Flow Per Share	-4.73	-6.41	5.43	1.77	3.08
Payout Ratio	—	+55.0%	—	—	—
Supplemental
Total Interest Dividend Income	45.68M	54.29M	42.95M	26.50M	7.57M

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
Operating Summary
Revenue	1.19B	1.35B	1.17B	1.03B	0.79B
Operating Expenses	1.43B	1.30B	1.06B	1.00B	0.74B
Pretax Income	-232.66M	57.13M	103.90M	31.20M	48.43M
Income Tax	11.78M	8.00M	10.00M	18.50M	15.00M
Net Income	-244.44M	49.13M	93.90M	12.70M	33.43M
Premium Revenue	1.15B	1.33B	1.11B	1.01B	0.74B
Policy Benefits	1.22B	1.16B	0.89B	0.90B	0.56B
Policy Cost	200.79M	189.47M	166.18M	136.01M	87.29M
EPS (Basic)	-4.89	0.98	1.88	0.25	0.67
EPS (Diluted)	-4.89	0.98	1.88	0.25	0.67
DPS	—	0.60	0.54	—	—
Margins & Efficiency
Net Margin %	-20.6%	+3.6%	+8.0%	+1.2%	+4.2%
Revenue & Income
Revenue Growth (YoY)	-12.3%	+15.8%	+13.6%	+30.3%	+12.5%
Revenue Insurance	1.19B	1.35B	1.17B	1.03B	0.79B
Premiums Annuity Rev	1.15B	1.33B	1.11B	1.01B	0.74B
Other Revenue Insurance	—	—	—	—	23.75M
Gain Investment Rev Insurance	-12.40M	-29.49M	13.64M	-3.00M	21.28M
Expenses & Provisions
SG&A Insurance	3.31M	3.91M	5.77M	5.68M	87.44M
Other Opex Insurance	3.37M	-60.83M	-9.62M	-53.73M	14.09M
Total Opex Insurance	1.43B	1.30B	1.06B	1.00B	0.74B
Interest Expense	-219.00K	-199.00K	-257.00K	-253.00K	-134.27K
Other Non Operating Income (Expenses)	6.60M	3.57M	—	—	—
Policy Benefits	1.22B	1.16B	0.89B	0.90B	0.56B
Policy Cost	200.79M	189.47M	166.18M	136.01M	87.29M
Provision for Bad Debts	—	—	—	—	-8.25M
D&A For EBITDA	6.32M	4.10M	3.29M	3.46M	3.42M
Da Suppl Insurance	368.00K	459.00K	442.00K	545.00K	—
Deferred Policy Acquisition Cost	—	—	—	—	34.26M
Profitability & Returns
EBIT	-239.04M	53.77M	104.15M	31.46M	48.57M
EBIT Margin	-20.1%	+4.0%	+8.9%	+3.1%	+6.2%
EBITDA	-232.72M	57.86M	107.45M	34.92M	51.98M
EBITDA Margin	-19.6%	+4.3%	+9.2%	+3.4%	+6.6%
Pretax Income	-232.66M	57.13M	103.90M	31.20M	48.43M
Opinc Insurance	-239.04M	53.77M	104.15M	31.46M	48.57M
Operating Margin	-20.1%	+4.0%	+8.9%	+3.1%	+6.2%
Profit Margin	-20.6%	+3.6%	+8.0%	+1.2%	+4.2%
Net Income	-244.44M	49.13M	93.90M	12.70M	33.43M
Net Income to Common	-244.44M	49.13M	93.90M	12.70M	33.43M
Net Income Growth	—	-47.7%	+639.2%	-62.0%	+21.1%
Income Tax Expense	11.78M	8.00M	10.00M	18.50M	15.00M
Effective Tax Rate	—	+14.0%	+9.6%	+59.3%	+31.0%
Per Share & Capital
EPS (Basic)	-4.89	0.98	1.88	0.25	0.67
EPS (Diluted)	-4.89	0.98	1.88	0.25	0.67
EPS Growth	—	-47.9%	+646.0%	-62.3%	+21.1%
Dividend Per Share	—	0.60	0.54	—	—
Shares Change (YoY)	—	0	-0.01	0.01	—
Shares Outstanding (Basic)	50.00M	50.00M	49.94M	50.40M	50.00M
Shares Outstanding (Diluted)	50.00M	50.00M	49.94M	50.40M	50.00M
Dividend Growth	—	+11.1%	—	—	—
Free Cash Flow	-236.44M	-320.45M	271.22M	89.39M	154.21M
Free Cash Flow Margin	-19.9%	-23.7%	+23.2%	+8.7%	+19.5%
Free Cash Flow Per Share	-4.73	-6.41	5.43	1.77	3.08
Payout Ratio	—	+55.0%	—	—	—
Supplemental
Total Interest Dividend Income	45.68M	54.29M	42.95M	26.50M	7.57M