Saudi Tadawul Group Holding (1111) Q3 2025 earnings summary

Executive summary

• Demonstrated market resilience amid global disruptions, with 42 new listings and total listed securities rising to 462 compared to 415 in 9M 2024.

• Market capitalization reached SAR 9,367 billion ($2,498 billion), down 8.7% year-over-year.

• Focused on diversifying revenue base, leading to increased non-trading revenues and long-term growth potential.

• Strategic investments in technology, post-trade services, and data solutions supported resilience and market innovation.

• Regulatory achievements, including addition to J.P. Morgan EM Bond Index watchlist, enhanced international investor participation.

Financial highlights

• Operating revenue for 9M 2025 was SAR 964.9 million, down from SAR 1,100.2 million year-over-year.

• Net profit after zakat declined 40.8% year-over-year to SAR 299.4 million, with a margin of 31.0%.

• Operating expenditures rose 12.1% year-over-year to SAR 716.2 million, driven by investments in workforce and technology.

• EBITDA dropped 37.1% year-over-year to SAR 329.0 million, with a margin of 34.1%.

• Earnings per share declined to SAR 2.50 from SAR 4.21 year-over-year.

Outlook and guidance

• Continued focus on product expansion, market connectivity, and international partnerships to drive future growth.

• Strategic investments in technology and people to support long-term resilience and diversification.

• Management notes that results for the nine months are not necessarily indicative of full-year performance.