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Middle East Specialized Cables Co.

Middle East Specialized Cables Co.

2370.SR
Middle East Specialized Cables Co.SA flagSaudi Exchange
29.76
SAR
-0.72
- -
1.19BMarket Cap
Middle East Specialized Cables Co.
2370.SR
(Saudi Exchange)

Recent

price

29.76

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
29.94
33.14
24.79
23.29
21.48
22.21
19
16.88
14.8
11.7
13.14
12.91
20.36
23.17
28.6
37.05
40.14
Revenue per Share
-2.76
-3.49
0.78
0.76
-0.58
-2.6
2
0.31
-2
-0.61
0.05
-0.57
-0.29
1.22
2.27
2.54
2.88
Basic EPS, GAAP
1.34
-2.81
1.71
-2.01
0.72
1.93
1.02
0.91
1.28
0.36
0.91
1.28
-1.18
1.71
-1.86
-0.48
-2.06
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
0.5
Dividend per Share
- -
- -
6.36
11.9
11.32
8.63
10.62
10.91
8.9
8.26
8.3
7.72
7.42
8.65
11.65
13.19
14
Book Value per Share
12.7
8.11
7.33
12.47
11.58
7.74
11.08
11.57
9.56
8.9
8.94
8.37
8.12
9.36
11.48
13.25
13.72
Tangible Book Value per Share
34
34
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
Basic Weighted Avg Shares
1,029
1,139
991
931
858
888
759
675
592
468
526
517
814
927
1,144
1,482
1,605
Sales/Revenue/Turnover
100
100
5.4
5.32
0.53
-13.47
14.76
6.48
-8.79
-0.14
7.36
-1.4
3.37
9.7
11.38
9.99
10.28
Operating Margin (%)
43
- -
46
45
42
42
37
31
23
21
20
19
18
19
20
22
22
Depreciation Expense
-95
-120
31
30
-23
-104
80
13
-80
-25
2
-23
-12
49
91
102
115
Net Income, GAAP
- -
- -
- -
18.72
- -
- -
7.89
40.31
- -
- -
92.03
- -
161.75
25.33
13.15
11.74
10.54
Effective Tax Rate (%)
-9.22
-10.54
3.14
3.27
-2.69
-11.68
10.53
1.85
-13.54
-5.25
0.39
-4.4
-1.45
5.28
7.95
6.86
7.17
Profit Margin (%)
-165
-121
116
347
270
177
167
236
207
259
274
224
186
278
316
412
431
Working Capital
- -
- -
450
439
335
297
75
3
39
103
83
45
7
6
6
47
48
LT Debt
436
279
296
505
464
311
444
465
385
360
361
338
328
378
464
539
558
Total Equity
- -
- -
- -
3.52
- -
- -
12.85
3.72
- -
- -
0.62
- -
-3.6
14.66
22.11
19.27
19.39
Return on Invested Capital (%)
- -
- -
- -
5.62
- -
- -
12.61
3.43
- -
- -
0.54
- -
-3.58
13.79
20.6
17.55
17.63
Return on Capital (%)
- -
- -
24.47
8.33
-4.97
-26.01
20.78
2.91
-20.23
-7.16
0.62
-7.09
-3.89
15.22
22.42
20.47
22.01
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
133
137
215
LT Borrowings
- -
40
38
LT Finance Leases
7
6
10
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
40
40
40
Market Capitalization
1,234
851
926

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
888
980
1,205
Cash, Cash Equivalents & STI
23
40
28
Accounts Receivable, Net
584
588
796
Inventories
280
341
380
Total Current Liabilities
519
568
774
Payables & Accruals
- -
- -
- -
ST Debt
133
137
215
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.91%
8.95%
16.06%
Free Cash Flow
-61.75%
-136.12%
-74.11%
Net Income, GAAP
-284.45%
-332.9%
11.72%
Sales/Revenue/Turnover
7.62%
24.55%
29.56%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
291
250
289
314
1,144
2025
339
381
381
382
1,482
2026
462
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.65
0.54
0.52
- -
2.27
2025
0.48
0.75
0.51
- -
2.54
2026
0.81
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
1
2026
- -
- -
- -
- -
- -
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Business
Middle East Specialized Cables Company (MESC) (2370.SR) manufactures and supplies a wide range of specialized cables and related products for the power, telecommunications, and construction industries; its core offerings include low, medium, and high voltage power cables, aerial bundled conductors, fiber optic cables, LAN cables, coaxial cables, and control cables, as well as turnkey contracting services for cable installation and network infrastructure projects. The company serves utility companies, telecom operators, industrial clients, and government entities primarily in Saudi Arabia, with exports to other Middle East and African markets. Founded in 1993 and headquartered in Sudair Industrial City, Saudi Arabia, MESC operates manufacturing facilities equipped for custom cable production and maintains a focus on quality standards such as ISO certifications. In recent developments, MESC expanded its production capacity through investments in new extrusion lines and facility upgrades announced in 2024, enhancing output for high-demand power cables amid Saudi Arabia's Vision 2030 infrastructure push. The company secured major contracts in late 2024 for supplying cables to national grid expansion projects and formed a strategic partnership with a leading regional telecom provider for fiber optic deployments. Additionally, MESC reported a successful IPO on the Saudi Tadawul exchange in 2023, followed by a dividend distribution in 2025 reflecting strong financial performance.