Below is the list of SNB Capital’s third-quarter estimates for banks and firms under its coverage:
SNB Capital’s Forecasts for Q4 2025 (SAR mln)
Company
Q4 2025 Estimates
YoY Change
Petrochemicals
SABIC
(19106)
—
SIIG
(3.8)
—
Yansab
37.6
—
Advanced
39.1
—
Tasnee
(150)
—
Sipchem
(275)
—
SABIC AN
1024
7%
Kayan
(514)
—
Energy
Arabian Drilling
(22.6)
—
Luberef
109
(48%)
ADES
224
8%
Banks
Al Rajhi Bank
6,258
13%
Alinma Bank
1,624
6%
BSF
1,331
19%
Bank Albilad
783
(1%)
Bank AlJazira
381
36%
Riyad Bank
2623
16%
SAB
2053
(3%)
SAIB*
702
38%
Telecoms
stc*
3.593
(73%)
Mobily
895
(9%)
Zain KSA
188
(31%)
solutions
430
31%
Elm
631
27%
Healthcare
Saudi German Health
64.6
(40%)
Mouwasat
204
19%
Al Hammadi
65.2
(16%)
Sulaiman Al Habib
664
8%
Dallah
145
27%
SMC Healthcare
75.4
188%
Fakeeh Care*
51
(31%)
Almoosa
62.3
15%
Tourism
SGS
104
9%
CATRION
101
2%
Seera*
46.9
—
flynas
(55.4)
—
Retail
Leejam
102
(0.4%)
Shaker
16.3
7%
Jarir
282
2%
BinDawood Holding
102
(4%)
Al Othaim*
116
(59%)
Nahdi
167
6%
Americana
175.5
13%
Aldawaa
97.2
(6%)
Almajed Oud
16.5
10%
Nice One
11.6
98%
Cement
Arabian Cement
46.3
48%
Yamama Cement
74.5
(39%)
Eastern Cement
58
(26%)
Qassim Cement
60.3
(26%)
Southern Cement
13.5
(86%)
Saudi Cement
101
(16%)
Yanbu Cement
29.9
7%
Riyadh Cement
32.2
(60%)
Real Estate
Dar Al Arkan
332
(6%)
Taiba
87.8
(3%)
Food Beverages
Savola*
133
—
Almarai
439
2%
First Mills
78.2
18%
Modern Mills
52.9
4%
Tanmiah
(28.6)
—
Entaj
(39.7)
—
SADAFCO
96.4
5%
Car Rental
Lumi
50.1
1%
Budget Saudi
90.8
(11%)
Theeb
47.5
(7%)
SAL
185
30%
Fuel Stations
Aldrees
118
26%
SASCO
6.1
(40%)
Manpower Solutions
SMASCO
43
84%
Al Mawarid
37.6
31%
Maharah*
146
—
Tamkeen
24.8
49%
Others
SEC*
(1,474)
—
Tadawul
45.7
(61%)
Saudi Steel Pipe
25.9
14%
Jamjoom Pharma
64.3
25%
Avalon Pharma
46
3%
MBC Group*
126
(30%)
Riyadh Cables
274
9%
* SAIB: Q4 2025 results include a one-off gain from the sale of land.
*stc: Q4 2024 included non-recurring profits.
*Fakeeh: Net income before minority interest.
*Leejam: 2024 net income includes one-off gains from land sales and lease contract adjustments.
*Al Othaim: 2024 net income included non-recurring gains related to an IPO.
*Seera: Net income before minority interests.
*Savola: 2024 net income included one-off gains from selling its stake in Almarai.
*Maharah: Includes one-off gains
*SEC: Before deducting returns on speculative instruments.
* Q4 2024 included gains from the sale of a stake in an associate.
Below is the list of SNB Capital’s third-quarter estimates for banks and firms under its coverage:
SNB Capital’s Forecasts for Q4 2025 (SAR mln)
Company
Q4 2025 Estimates
YoY Change
Petrochemicals
SABIC
(19106)
—
SIIG
(3.8)
—
Yansab
37.6
—
Advanced
39.1
—
Tasnee
(150)
—
Sipchem
(275)
—
SABIC AN
1024
7%
Kayan
(514)
—
Energy
Arabian Drilling
(22.6)
—
Luberef
109
(48%)
ADES
224
8%
Banks
Al Rajhi Bank
6,258
13%
Alinma Bank
1,624
6%
BSF
1,331
19%
Bank Albilad
783
(1%)
Bank AlJazira
381
36%
Riyad Bank
2623
16%
SAB
2053
(3%)
SAIB*
702
38%
Telecoms
stc*
3.593
(73%)
Mobily
895
(9%)
Zain KSA
188
(31%)
solutions
430
31%
Elm
631
27%
Healthcare
Saudi German Health
64.6
(40%)
Mouwasat
204
19%
Al Hammadi
65.2
(16%)
Sulaiman Al Habib
664
8%
Dallah
145
27%
SMC Healthcare
75.4
188%
Fakeeh Care*
51
(31%)
Almoosa
62.3
15%
Tourism
SGS
104
9%
CATRION
101
2%
Seera*
46.9
—
flynas
(55.4)
—
Retail
Leejam
102
(0.4%)
Shaker
16.3
7%
Jarir
282
2%
BinDawood Holding
102
(4%)
Al Othaim*
116
(59%)
Nahdi
167
6%
Americana
175.5
13%
Aldawaa
97.2
(6%)
Almajed Oud
16.5
10%
Nice One
11.6
98%
Cement
Arabian Cement
46.3
48%
Yamama Cement
74.5
(39%)
Eastern Cement
58
(26%)
Qassim Cement
60.3
(26%)
Southern Cement
13.5
(86%)
Saudi Cement
101
(16%)
Yanbu Cement
29.9
7%
Riyadh Cement
32.2
(60%)
Real Estate
Dar Al Arkan
332
(6%)
Taiba
87.8
(3%)
Food Beverages
Savola*
133
—
Almarai
439
2%
First Mills
78.2
18%
Modern Mills
52.9
4%
Tanmiah
(28.6)
—
Entaj
(39.7)
—
SADAFCO
96.4
5%
Car Rental
Lumi
50.1
1%
Budget Saudi
90.8
(11%)
Theeb
47.5
(7%)
SAL
185
30%
Fuel Stations
Aldrees
118
26%
SASCO
6.1
(40%)
Manpower Solutions
SMASCO
43
84%
Al Mawarid
37.6
31%
Maharah*
146
—
Tamkeen
24.8
49%
Others
SEC*
(1,474)
—
Tadawul
45.7
(61%)
Saudi Steel Pipe
25.9
14%
Jamjoom Pharma
64.3
25%
Avalon Pharma
46
3%
MBC Group*
126
(30%)
Riyadh Cables
274
9%
* SAIB: Q4 2025 results include a one-off gain from the sale of land.
*stc: Q4 2024 included non-recurring profits.
*Fakeeh: Net income before minority interest.
*Leejam: 2024 net income includes one-off gains from land sales and lease contract adjustments.
*Al Othaim: 2024 net income included non-recurring gains related to an IPO.
*Seera: Net income before minority interests.
*Savola: 2024 net income included one-off gains from selling its stake in Almarai.
*Maharah: Includes one-off gains
*SEC: Before deducting returns on speculative instruments.
* Q4 2024 included gains from the sale of a stake in an associate.
