1. Saudi Arabia Stocks

  2. •

    Basic Materials

  3. •

    Steel
Watani Iron Steel Co.

Watani Iron Steel Co.

9513.SR
Watani Iron Steel Co.SA flagSaudi Exchange
2.09
SAR
+0.02
- -
379.65MMarket Cap
Watani Iron Steel Co.
9513.SR
(Saudi Exchange)

Recent

price

2.09

P/E

ratio

- -

div

yld

- -

ROIC.AI

2020
2021
2022
2023
2024
2025
TTM
FRC
2.53
3.43
3.28
2.04
3.05
2.36
2.36
Revenue per Share
0.17
0.26
0.27
0.02
0.05
-0.08
-0.08
Basic EPS, GAAP
0.41
0.3
0.32
-0.05
0.2
0.03
-0.08
Free Cash Flow per Basic Share
0.2
- -
- -
- -
- -
- -
- -
Dividend per Share
0.73
0.96
1.21
1.23
1.28
1.2
1.22
Book Value per Share
0.63
0.89
1.17
1.19
1.24
1.16
1.17
Tangible Book Value per Share
182
182
182
182
182
182
181
Basic Weighted Avg Shares
459
623
596
370
553
429
429
Sales/Revenue/Turnover
9.33
8.79
9.51
2.88
3.09
-1.78
-2.37
Operating Margin (%)
20
- -
20
20
21
17
14
Depreciation Expense
31
47
50
4
10
-15
-15
Net Income, GAAP
2.93
2.58
2.55
3.05
2.58
- -
0.64
Effective Tax Rate (%)
6.77
7.55
8.32
1.15
1.78
-3.47
-3.58
Profit Margin (%)
-136
-116
-47
-54
-29
-29
-23
Working Capital
42
- -
- -
- -
- -
- -
- -
LT Debt
140
187
238
242
251
236
239
Total Equity
- -
17.11
17.63
3.18
5.14
- -
- -
Return on Invested Capital (%)
- -
17.82
19.07
3.62
5.36
- -
1.07
Return on Capital (%)
- -
30.7
25.18
1.92
4.32
-6.59
-6.73
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
86
71
91
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
182
182
182
Market Capitalization
370
299
354

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
99
99
112
Cash, Cash Equivalents & STI
4
19
10
Accounts Receivable, Net
7
5
16
Inventories
87
71
82
Total Current Liabilities
120
129
135
Payables & Accruals
- -
- -
- -
ST Debt
86
71
91
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
12%
-6.05%
Free Cash Flow
- -
-136.42%
-84.29%
Net Income, GAAP
- -
-30.59%
-250.67%
Sales/Revenue/Turnover
- -
4.07%
-22.52%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
145
129
116
164
553
2025
119
98
83
129
429
2026
120
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
-0.01
-0.01
- -
0.05
2025
0.02
-0.01
-0.03
- -
-0.08
2026
0.01
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Watani Iron Steel Co. (9513.SR) produces a range of iron and steel products including direct reduced iron (DRI), billets, and reinforcement bars; it operates production facilities focused on direct reduction and rolling processes. The company, founded in 2022 and headquartered in the Industrial City of Jubail, Saudi Arabia, serves the construction and infrastructure sectors primarily within the Kingdom of Saudi Arabia. Its core offerings encompass DRI production using natural gas-based Midrex technology, billet casting, and deformed rebar manufacturing in various sizes and grades for local market demand. In 2024, Watani Iron Steel Co. achieved full commercial operations across its Phase 1 facilities, marking a significant milestone following its initial public offering on the Saudi Exchange (Tadawul) in December 2022. The company expanded its production capacity to 2.3 million tons annually of DRI and 1.5 million tons of billets and rebars, supported by strategic investments in energy-efficient technologies. It continues to prioritize sustainable steelmaking practices amid Saudi Arabia's Vision 2030 initiatives for industrial localization.