Saudi Arabian Oil Company
Logotype for Saudi Arabian Oil Company

Saudi Arabian Oil Company (2222) investor relations material

Saudi Arabian Oil Company Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Saudi Arabian Oil Company
Q3 2025 earnings summary4 Nov, 2025

Executive summary

  • Adjusted net income for Q3 2025 was $28.0 billion, up 14% from Q2 and year-on-year, reflecting strong operating momentum and higher volumes sold at improved prices.

  • Free cash flow reached $23.6 billion, up 55% quarter-on-quarter and 7% year-on-year, driven by higher upstream production and operational momentum.

  • Major projects advanced, including the $11.1 billion Jafurah midstream deal, unconventional gas expansion, and downstream investments in China.

  • Continued focus on technology and AI, with significant investments and partnerships such as HUMAIN to accelerate digital strategy.

  • Board declared a Q3 2025 base dividend of $21.1 billion and a performance-linked dividend of $0.2 billion.

Financial highlights

  • Adjusted net income: $28.0 billion (+14% q/q, +1% y/y).

  • Free cash flow: $23.6 billion (+55% q/q, +7% y/y).

  • Capital investments: $12.9 billion in Q3, totaling $38.4 billion for the first three quarters.

  • Gearing ratio at 6.3% as of September 30, 2025.

  • ROACE/ROACI at 18.4% for Q3 2025, about double peer average.

Outlook and guidance

  • 2030 sales gas production capacity growth target raised to around 80% over 2021 levels, up from previous 60% guidance.

  • 2025 capital investment guidance narrowed to $52–$55 billion.

  • Incremental operating cash flow from gas program in 2030 projected at $12–$15 billion, up from prior $9–$10 billion.

  • Downstream business expected to generate $8–$10 billion incremental operating cash flow by 2030.

  • Record oil demand of at least 106 million bbl/day expected in 2025.

Drivers for increased gas production target?
Downstream strategy: value creation drivers?
How AI and tech investments unlock value?
AI's role in gas capacity growth without CapEx?
Gas and downstream OCF impact on future dividends?
Jafurah ethane utilization strategy?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Saudi Arabian Oil Company earnings date

Logotype for Saudi Arabian Oil Company
Q4 202510 Mar, 2026
Saudi Arabian Oil Company
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Saudi Arabian Oil Company earnings date

Logotype for Saudi Arabian Oil Company
Q4 202510 Mar, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Saudi Arabian Oil Company, commonly known as Saudi Aramco, is a leading global integrated energy and chemicals company. Its operations span across the upstream sector, where it is involved in the exploration, development, production, and sale of crude oil, condensate, natural gas, and natural gas liquids. In the downstream sector, Saudi Aramco engages in refining, petrochemical manufacturing, and marketing activities, producing a wide range of chemicals, lubricants, and petroleum products. It also has interests in power generation and retail operations. Established in 1933, Saudi Aramco has grown into one of the largest companies in the energy sector, with a significant presence both within the Kingdom of Saudi Arabia and internationally. The company is headquartered in Dhahran, Saudi Arabia, and its shares are listed on the Saudi Stock Exchange.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage