Value Capital issued its Q1 2026 estimates for several Saudi companies and banks under its coverage.
The brokerage expects Al Rajhi Bank’s net profit to grow 9% year-on-year (YoY) to SAR 6.41 billion in Q1 2026. It also forecasts telecom giant stc to see SAR 3.37 billion net profit, declining 8% YoY.
Value Capital’s Q1 2026 Earnings Forecasts (SAR mln)
Company
Q1
2026 (Projected)
YoY Change
Banking
Al Rajhi Bank
6,408.6
+9%
Alinma Bank
1,743.8
+16%
Bank Albilad
831.8
+19%
Bank AlJazira
392.8
+9%
Telecoms
stc
3,372.6
(8%)
Zain KSA
107.9
+16%
Basic Materials
Southern Cement
5.5
(79%)
Yamama Cement
64.5
(55%)
Saudi Cement
71.9
(34%)
Qassim Cement
49.8
(47%)
Software Services
solutions
370.8
+3%
Elm
550.7
+11%
Healthcare
Al Hammadi
65.4
(12%)
Sulaiman Al Habib
656.0
+18%
Capital Goods
Riyadh Cables
297.4
+16%
Astra
170.2
(1%)
Other Sectors
Tadawul Group
113.9
(5%)
ADES
208.7
+7%
SAL
173.8
+14%
Value Capital issued its Q1 2026 estimates for several Saudi companies and banks under its coverage.
The brokerage expects Al Rajhi Bank’s net profit to grow 9% year-on-year (YoY) to SAR 6.41 billion in Q1 2026. It also forecasts telecom giant stc to see SAR 3.37 billion net profit, declining 8% YoY.
Value Capital’s Q1 2026 Earnings Forecasts (SAR mln)
Company
Q1
2026 (Projected)
YoY Change
Banking
Al Rajhi Bank
6,408.6
+9%
Alinma Bank
1,743.8
+16%
Bank Albilad
831.8
+19%
Bank AlJazira
392.8
+9%
Telecoms
stc
3,372.6
(8%)
Zain KSA
107.9
+16%
Basic Materials
Southern Cement
5.5
(79%)
Yamama Cement
64.5
(55%)
Saudi Cement
71.9
(34%)
Qassim Cement
49.8
(47%)
Software Services
solutions
370.8
+3%
Elm
550.7
+11%
Healthcare
Al Hammadi
65.4
(12%)
Sulaiman Al Habib
656.0
+18%
Capital Goods
Riyadh Cables
297.4
+16%
Astra
170.2
(1%)
Other Sectors
Tadawul Group
113.9
(5%)
ADES
208.7
+7%
SAL
173.8
+14%
