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    Industrial Materials
Saudi Arabian Mining Company (Ma'aden)

Saudi Arabian Mining Company (Ma'aden)

1211.SR
Saudi Arabian Mining Company (Ma'aden)SA flagSaudi Exchange
58.40
SAR
-0.65
- -
226.70BMarket Cap
Saudi Arabian Mining Company (Ma'aden)
1211.SR
(Saudi Exchange)

Recent

price

58.40

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.24
0.51
1.86
2.08
3.64
3.13
2.7
3.45
4.04
5.02
5.03
7.25
10.91
7.93
8.82
10.05
10.09
Revenue per Share
- -
0.14
0.36
0.58
0.46
0.17
- -
0.2
0.53
-0.21
-0.06
1.42
2.52
0.43
0.78
1.91
1.93
Basic EPS, GAAP
-1.87
-2.82
-3.91
-3.84
-2.92
-3.22
-1.74
0.02
0.65
0.09
-0.14
1.35
3.63
1.02
1.63
1.05
0.92
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
3.77
3.82
4.14
4.79
5.95
4.62
4.61
4.8
5.27
5.37
5.05
6.39
11.56
12.62
13.03
14.03
14.41
Book Value per Share
6.23
6.9
7.61
8.5
11.24
9.35
9.35
9.75
10.37
10.76
10.02
11.83
15.08
15.29
16.25
17.62
17.87
Tangible Book Value per Share
3,001
3,001
3,001
2,912
2,961
3,505
3,505
3,505
3,505
3,535
3,692
3,692
3,692
3,692
3,690
3,838
3,853
Basic Weighted Avg Shares
707
1,533
5,577
6,047
10,792
10,956
9,464
12,086
14,171
17,736
18,580
26,769
40,277
29,272
32,546
38,578
38,853
Sales/Revenue/Turnover
11.18
37.96
31.58
9.98
18.5
11.99
12.89
24
27.84
5.12
4.26
27.64
33.62
12.88
17.22
26.4
26.86
Operating Margin (%)
98
194
1,025
1,054
1,561
2,284
2,519
2,850
3,193
4,636
4,822
4,617
5,013
5,165
4,503
4,498
4,590
Depreciation Expense
-9
413
1,091
1,682
1,357
605
-11
715
1,848
-739
-209
5,228
9,319
1,577
2,872
7,348
7,434
Net Income, GAAP
107.45
18.18
3.38
2.96
2.49
5.43
- -
15.94
11.39
- -
- -
6.4
6.83
20.2
8.26
2.43
2.03
Effective Tax Rate (%)
-1.3
26.96
19.56
27.82
12.58
5.52
-0.11
5.91
13.04
-4.17
-1.12
19.53
23.14
5.39
8.82
19.05
19.13
Profit Margin (%)
10,132
8,488
5,053
519
10,149
1,487
3,852
4,460
8,033
7,243
4,798
8,649
18,171
14,488
9,472
9,043
12,100
Working Capital
13,517
18,815
25,809
31,595
43,377
42,839
50,840
50,728
51,409
48,284
46,370
43,577
39,630
34,614
30,252
30,595
32,980
LT Debt
18,708
20,705
23,085
25,007
33,517
33,134
33,136
34,530
36,694
38,393
37,300
43,969
56,040
56,815
60,156
67,814
69,173
Total Equity
-0.02
1.31
3.77
1.09
2.85
1.59
- -
2.78
3.88
- -
- -
7.72
13.13
3.07
5.29
9.94
9.89
Return on Invested Capital (%)
-0.02
0.97
2.26
3.59
2.1
1.19
- -
2.17
3.41
- -
- -
6.34
8.78
3.34
3.88
8.4
8.19
Return on Capital (%)
-0.08
3.63
9.13
12.75
8.6
3.58
-0.07
4.33
10.47
-3.95
-1.11
24.76
28.12
3.53
6.07
14.41
14.14
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
4,025
3,250
3,139
LT Borrowings
29,923
29,354
31,445
LT Finance Leases
1,050
1,241
1,535
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,881
3,881
3,882
Market Capitalization
244,709
233,047
249,645

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
25,961
25,825
29,146
Cash, Cash Equivalents & STI
10,890
10,817
13,004
Accounts Receivable, Net
6,725
6,364
7,398
Inventories
7,680
7,076
7,973
Total Current Liabilities
16,302
16,782
17,046
Payables & Accruals
- -
- -
- -
ST Debt
4,025
3,250
3,139
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.76%
13.06%
12.73%
Free Cash Flow
138.86%
-183.12%
-33%
Net Income, GAAP
-927.98%
-473.68%
155.89%
Sales/Revenue/Turnover
15.82%
19.39%
18.53%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7,348
7,184
8,045
9,969
32,546
2025
8,511
9,416
10,011
10,640
38,578
2026
8,787
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.27
0.28
0.26
- -
0.78
2025
0.41
0.51
0.57
- -
1.91
2026
0.42
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Saudi Arabian Mining Company (Ma'aden) operates as a leading multi-commodity mining and metals company based in Riyadh, Saudi Arabia, founded in 1997. It offers a broad range of core products and services including phosphate fertilizers; gold mining and refining; aluminum production including bauxite mining, alumina refining, and aluminum smelting; industrial minerals; and other metals exploration and development. Its operations span the Kingdom of Saudi Arabia with expanding global market engagements. Recent major developments include the full acquisition of Alcoa's 25.1% stake in Maaden Aluminum Company (MAC) and Maaden Bauxite and Alumina Company (MBAC) completed in July 2025, giving Maaden full ownership of its aluminum assets and enhancing operational control. In addition, Maaden completed a $1.5 billion acquisition of Mosaic Phosphate Company’s 25% stake in Maaden Wa'ad Al Shamal Phosphate Company, strengthening its phosphate sector position and global marketing capabilities. The company is advancing the Phosphate 3 project, which reached 50% completion in 2025 and is on schedule for 2027 production, alongside the awarding of a major Engineering, Procurement and Construction Management (EPCM) contract to Bechtel for the Ar Rjum gold mine project, part of its plan to double gold production by 2030. Maaden has also entered into a binding term sheet with MP Materials Corp to develop a rare earth refinery, forming a strategic partnership that supports Saudi Arabia’s mining-industrial expansion. Maaden remains focused on expanding its mining portfolio, boosting production capacity in high-margin segments like gold and phosphate, and exploring new mineral licenses in Saudi Arabia’s Arabian Shield region. It operates under the majority ownership of the Public Investment Fund (PIF) of Saudi Arabia and is a key national mining champion playing a strategic role in diversifying the Kingdom’s economy beyond oil, targeting global markets in fertilizers, metals, and minerals. This comprehensive operational and strategic expansion underpins Maaden’s positioning as the Middle East’s largest mining company and one of the fastest-growing mining entities worldwide. It continues to strengthen its upstream and downstream capabilities in minerals and metals production while pursuing sustainability and value creation aligned with Saudi Vision 2030.