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Definitive Analysis

Financial Statements

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Industry

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Page: Company Financials

Mohammed Hadi Al Rasheed and Partners Co.

Ticker: 9601.SR | Industry: Industrial Materials | Sector: Industrials
$79.10 +3.15 (4.15%)
As of: 2026-01-22

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Enterprise Value

Metric 2024 2023 2022 2021
Stock Price 68.25 31.80 31.80 31.80
Market Capitalization 818.90M 381.60M 381.60M 381.60M
(-) Cash & Equivalents 44.75M 15.55M 4.55M 5.92M
(+) Total Debt 35.25M 44.25M 24.61M 32.75M
Enterprise Value 809.40M 410.29M 401.66M 408.43M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenue 610M 319M 307M 215M 168M 121M
Cost of Revenue 396M 233M 198M 146M 121M 86M
Gross Profit 214M 86M 109M 69M 46M 34M
Gross Profit Margin 35.1% 27.1% 35.5% 32.2% 27.6% 28.6%
R&D Expenses 0M 0M 0M 0M 0M 0M
SG&A Expenses 38M 22M 20M 16M 12M 7M
Operating Expenses 40M 31M 23M 16M 18M 0M
Operating Income (EBIT) 174M 56M 86M 53M 28M 35M
Operating Income Margin 28.5% 17.4% 28.1% 24.6% 16.7% 28.8%
Interest Income 0M 1M 0M 0M 0M 1M
Interest Expense 3M 1M 1M 2M 1M 0M
Net Interest Income -3M 0M -1M -2M -1M 1M
Unusual Items -5M -3M -1M -3M 0M -10M
EBT Excluding Unusual Items 171M 56M 85M 51M 27M 36M
Pre-Tax Income 167M 53M 84M 48M 27M 26M
Pre-Tax Margin 27.3% 16.6% 27.3% 22.1% 16.1% 21.6%
Income Tax Expense 6M 4M 3M 3M 2M 1M
Net Income 161M 49M 81M 45M 25M 25M
Net Income Margin 26.3% 15.3% 26.3% 20.8% 14.7% 20.4%
Depreciation & Amortization 14M 27M 1M 15M 14M 12M
EBITDA 188M 83M 87M 68M 42M 47M
EBITDA Margin 30.9% 26.0% 28.5% 31.6% 25.0% 38.6%
NOPAT 168M 51M 83M 50M 26M 33M
NOPAT Margin 27.5% 16.0% 27.1% 23.1% 15.3% 27.2%
Owner's Earnings 84M 53M 41M 45M 29M 23M
Owner's Earnings Margin 13.8% 16.6% 13.5% 21.1% 17.1% 18.7%
EPS (Basic) 12.08 4.06 6.73 3.73 2.05 2.05
EPS (Diluted) 17.84 4.06 6.73 3.73 2.05 2.05
Shares (Basic) 13M 12M 12M 12M 12M 12M
Shares (Diluted) 9M 12M 12M 12M 12M 12M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash & Cash Equivalents 19.06M 45.13M 45.13M 19.81M 9.10M 11.84M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 19.06M 45.13M 45.13M 19.81M 9.10M 11.84M
Net Receivables 65.20M 71.17M 71.17M 68.13M 58.52M 46.24M
Inventory 65.95M 50.67M 50.67M 42.45M 40.90M 38.74M
Other Current Assets 25.21M 0.00M 0.00M 6.37M 0.00M 10.84M
Total Current Assets 175.41M 166.97M 166.97M 136.76M 108.52M 107.66M
Property, Plant & Equipment 164.52M 131.15M 131.15M 110.56M 106.31M 106.85M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 0.89M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 165.40M 131.15M 131.15M 110.56M 106.31M 106.85M
Total Assets 340.82M 298.12M 298.12M 247.32M 214.83M 214.50M
Accounts Payable 13.62M 14.50M 14.50M 9.47M 6.56M 5.58M
Short-Term Debt 12.20M 9.38M 9.38M 8.00M 11.68M 17.61M
Tax Payables 0.00M 3.18M 3.18M 3.96M 2.27M 0.00M
Deferred Revenue 0.00M 0.00M 0.00M 0.00M 2.04M 0.00M
Other Current Liabilities 22.31M 30.13M 30.13M 19.62M 1.23M 5.76M
Total Current Liabilities 48.13M 57.19M 57.19M 41.05M 23.78M 28.94M
Long-Term Debt 22.67M 11.96M 11.96M 21.33M 29.17M 41.21M
Capital Lease Obligations 12.15M 11.57M 11.57M 12.80M 7.34M 6.69M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 4.32M 3.38M 3.38M 2.43M 1.99M 1.23M
Total Non-Current Liabilities 39.13M 26.91M 26.91M 36.56M 38.50M 49.13M
Total Liabilities 87.27M 84.10M 84.10M 77.61M 62.28M 78.07M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 120.00M 120.00M 120.00M 120.00M 120.00M 120.00M
Retained Earnings 134.50M 110.66M 110.66M 40.42M 17.32M 16.08M
Accumulated OCI 0.00M 0.00M 0.00M 13.69M 9.22M 0.00M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 254.50M 230.66M 230.66M 174.11M 146.54M 136.08M
Total Equity 254.50M 230.66M 230.66M 174.11M 146.54M 136.08M
Total Liabilities & Equity 341.76M 314.76M 314.76M 251.72M 208.82M 214.15M
Tangible Assets 340.82M 298.12M 298.12M 247.32M 214.83M 214.50M
Tangible Equity 254.50M 230.66M 230.66M 174.11M 146.54M 136.08M
Tangible Book Value 254.50M 230.66M 230.66M 174.11M 146.54M 136.08M
Total Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt 15.81M -23.79M -23.79M 9.52M 31.75M 46.98M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Working Capital 125.2M 124.6M 124.6M 98.5M 78.7M 77.3M
Total Capital 300.6M 263.6M 263.6M 216.2M 195.8M 201.6M
Capital Employed 290.6M 255.8M 255.8M 209.0M 185.0M 184.1M
Invested Capital 281.5M 218.4M 218.4M 196.4M 186.7M 189.7M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Net Income 160.55M 48.76M 80.75M 44.71M 24.65M 24.61M
Depreciation & Amortization 30.36M 27.54M 15.16M 14.96M 13.75M 12.58M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -42.97M -18.30M -4.52M -19.57M -6.85M -25.43M
Accounts Receivable -10.19M 0.95M 7.48M -16.52M 1.07M -4.01M
Inventory -23.73M -19.80M -8.85M -3.05M -8.48M -15.74M
Accounts Payable 4.38M 3.65M 0.00M 8.09M 0.81M 0.00M
Other Working Capital -13.42M -3.09M -3.15M -8.09M -0.25M -5.67M
Other Non-Cash Items 8.98M 66.90M 5.38M 15.55M 9.62M 13.93M
Net Cash from Operating Activities 156.92M 77.07M 96.77M 55.66M 41.17M 25.70M
Capital Expenditures (PPE) -90.74M -22.85M -40.75M -14.19M -9.81M -13.92M
Acquisitions (Net) 3.87M 0.00M 3.64M 0.18M 0.00M 0.00M
Purchases of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities -0.24M 0.07M 0.00M 0.00M 0.00M 0.13M
Net Cash from Investing Activities -87.10M -22.78M -37.11M -14.01M -9.81M -13.78M
Net Debt Issuance -0.73M -20.82M -10.34M -11.52M -14.16M -1.49M
Long-Term Debt Issuance 8.58M -20.82M -10.34M -11.52M -16.42M -1.49M
Short-Term Debt Issuance -9.32M 0.00M 0.00M 0.00M 2.26M 0.00M
Net Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -56.82M -22.37M -24.00M -17.32M -13.87M 0.00M
Common Dividends Paid -56.82M -22.37M -24.00M -17.32M -13.87M 0.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -4.51M -6.33M 0.00M -2.10M -6.06M -12.86M
Net Cash from Financing Activities -62.06M -56.05M -34.34M -30.94M -34.09M -14.35M
Effect of FX on Cash 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 7.76M 0.52M 25.32M 10.70M -2.74M -2.43M
Cash at Beginning of Period 120.61M 36.57M 19.81M 9.10M 11.84M 14.27M
Cash at End of Period 128.37M 37.09M 45.13M 19.81M 9.10M 11.84M
Operating Cash Flow 156.92M 77.07M 96.77M 55.66M 41.17M 25.70M
Capital Expenditure -90.74M -22.85M -40.75M -14.19M -9.81M -13.92M
Free Cash Flow 66.18M 54.22M 56.01M 41.46M 31.36M 11.78M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
EBITDA 189.94M 91.15M 89.74M 68.24M 48.39M 39.61M
(-) Tax Adjustment 6.83M 7.35M 3.14M 4.09M 4.09M 2.19M
(-) Change In Working Capital -42.97M -18.30M -4.52M -19.57M -6.85M -25.43M
(-) Capital Expenditure -90.74M -22.85M -40.75M -14.19M -9.81M -13.92M
Unlevered Free Cash Flow 135.35M 79.24M 50.37M 69.52M 41.35M 48.92M
(-) Net Interest Income After Taxes -2.56M 0.11M -1.31M -2.04M -1.23M 0.86M
Net Debt Issuance -0.73M -20.82M -10.34M -11.52M -14.16M -1.49M
Levered Free Cash Flow 137.18M 58.31M 41.34M 60.04M 28.43M 46.57M