1. Qatar Stocks

  2. •

    Transportation

  3. •

    Air freight/Couriers
Qatar Navigation QSC

Qatar Navigation QSC

QQSE:QNNS
8.75
QAR
-0.05
(-0.56%)
0.93EPS
10.99P/E
11.57BMarket Cap
Oct 28Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.03
2.32
2.63
2.25
2.19
2.13
2.13
2
2.45
2.89
2.59
2.5
2.93
2.98
Basic EPS, GAAP
0.84
0.92
0.96
0.63
0.41
0.45
0.48
0.05
0.64
0.89
0.91
0.99
1.12
0.93
Free Cash Flow per Basic Share
0.07
-0.45
-1.64
0.35
-0.09
0.25
0.37
0.25
0.25
0.25
0.4
-0.09
0.61
0.47
Dividend per Share
0.38
0.5
0.55
0.5
0.35
0.35
0.3
0.3
0.3
0.3
0.35
0.38
0.4
0.45
Book Value per Share
11.08
11.87
12.04
12.49
11.92
12.83
12.8
12.06
12.96
14.12
14.68
15.38
16.07
16.08
Tangible Book Value per Share
11.03
11.86
11.87
11.96
11.77
12.69
12.67
11.93
12.88
14.11
14.67
15.38
16.06
16.07
Basic Weighted Avg Shares
1,136
1,136
1,136
1,136
1,136
1,136
1,136
1,136
1,136
1,136
1,136
1,136
1,136
1,136
Sales/Revenue/Turnover
2,305
2,633
2,984
2,551
2,491
2,420
2,425
2,267
2,784
3,285
2,942
2,840
3,327
3,386
Operating Margin (%)
28.29
26.27
28.65
21.76
17.99
16.57
11.66
12.3
9.09
14.82
14.83
18.89
20.12
15.96
Depreciation Expense
229
264
308
331
323
334
362
367
368
370
391
442
517
546
Net Income, GAAP
950
1,049
1,095
711
470
516
547
59
724
1,013
1,030
1,122
1,271
1,052
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
0.18
7.72
0.48
0.08
1.32
1.21
5.1
4.62
Profit Margin (%)
41.21
39.84
36.69
27.89
18.86
21.34
22.55
2.61
26.01
30.83
35.02
39.51
38.2
31.08
Working Capital
1,460
2,818
1,648
1,260
1,673
941
324
244
753
1,528
1,421
1,478
2,062
2,077
LT Debt
1,408
3,028
2,693
2,790
3,040
2,149
1,946
1,557
1,120
439
111
537
564
475
Total Equity
12,642
13,542
13,751
14,242
13,612
14,638
14,598
13,758
14,760
16,084
16,723
17,478
18,254
18,268
Return on Invested Capital (%)
4.56
3.98
4.35
2.63
2.31
2.29
1.67
1.57
1.56
2.9
2.5
3
3.42
2.9
Return on Capital (%)
7.03
6.62
6.03
4.24
3.35
3.81
3.83
0.83
4.87
6.32
6.23
6.5
7.05
5.94
Return on Common Equity (%)
8.15
8.05
8.06
5.11
3.39
3.67
3.75
0.42
5.1
6.58
6.3
6.57
7.11
5.95

Capital Structure

QAR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
182
164
106
LT Borrowings
430
418
407
LT Finance Leases
134
138
68
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,136
1,136
1,136
Market Capitalization
12,236
11,589
11,566

Working Capital

QAR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,567
3,534
3,488
Cash, Cash Equivalents & STI
2,490
2,393
2,435
Accounts Receivable, Net
336
1,074
996
Inventories
62
67
57
Total Current Liabilities
1,505
1,560
1,411
Payables & Accruals
- -
- -
- -
ST Debt
182
164
106
Deferred Revenue
- -
- -
- -

Growth Rates

QAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.98%
5.83%
4.44%
Free Cash Flow
-149.18%
-173.9%
-804.4%
Net Income, GAAP
104.66%
237.78%
13.26%
Sales/Revenue/Turnover
1.8%
8.8%
17.15%
Total Cash Common Dividend
- -
- -
6.67%

Quarterly Revenue

QAR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
747
687
697
709
2,840
2025
759
834
- -
869
3,327
2026
874
809
- -
- -
- -

Quarterly Earnings Per Share

QAR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.32
0.23
0.25
0.18
0.99
2025
0.33
0.26
- -
0.19
1.12
2026
0.26
0.22
- -
- -
- -

Quarterly Dividends Per Share

QAR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.38
- -
- -
- -
0.38
2025
0.4
- -
- -
- -
0.4
2026
0.45
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Mohammed Abdulla Swidan
Full Time Employees
2,500
Sector
Transportation
Industry
Air freight/Couriers
Address
Umm Al Saneem Area Doha DA Qatar
IPO Date
May 26, 1997
Website
milaha.com
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Business
Qatar Navigation Q.P.S.C., operating as Milaha, functions as a wide-ranging maritime and logistics enterprise with substantial operations across Qatar, the United Arab Emirates, and a global footprint extending to Europe, Africa, and Southeast Asia. Established in 1957, the company has evolved into a key provider of integrated transport and supply chain solutions. Within its Capital division, Milaha offers corporate financial advisory services and actively manages a diverse portfolio of financial and real estate investments. The Maritime & Logistics segment delivers comprehensive supply chain services, encompassing warehousing, container feeder shipping, non-vessel operating common carrier functions, bulk cargo transportation, shipping agency representation, as well as port management, operations, shipyard services, and steel fabrication for a broad clientele of importers, exporters, and shipping firms. Milaha's Offshore & Marine unit provides essential support services to the oil and gas sector, deploying a specialized fleet of offshore service vessels, including safety standby ships, anchor handling tugs, crew and workboats, and dynamic positioning vessels, alongside expert saturation diving capabilities. The Gas & Petrochem segment oversees the ownership, management, and operation of a fleet of liquefied petroleum gas (LPG), liquefied natural gas (LNG), and ammonia carriers, in addition to Aframax/LR2 tankers, facilitating ocean transportation for international energy and industrial companies. This segment recently benefited from a significant gain on the sale of two very large gas carriers in Q3 2025. Furthermore, the Marine & Technical Services division focuses on providing comprehensive lifecycle support for vessels and industrial equipment, encompassing ship repair, fabrication, bunkering, and ship management. The Trading and Industrial Technical Services segment engages in the sale of trucks, heavy machinery, and lubrication products, coupled with after-sales support, and includes the operation of a travel agency. This unit also extends technical services to onshore industries. Milaha recently solidified its position by signing a five-year agreement with Qatar Airways Group in July 2025 to deliver integrated logistics, warehousing, and distribution services. The company reported a net profit of QR 1.058 billion for the nine months ended September 30, 2025, marking a 15% increase over the same period in the prior year, driven by enhanced project activity in the Offshore segment and contributions from new vessel capacity. Milaha was founded in 1957 and maintains its headquarters in Doha, Qatar.