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GCC · Tadawul 2222

Saudi Aramco (Tadawul: 2222) stock fundamentals

Tadawul: 2222 · Energy · Saudi Arabia

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

Saudi Aramco (Tadawul: 2222) explores for, extracts, refines and markets hydrocarbons. Its interim financial statements for H1 2026 report revenue of SAR 450.8 billion for Q2 2026. Its annual financial statements for FY2025 report revenue of SAR 1.56 trillion and net income attributable to shareholders' equity of SAR 348 billion.

Data as of Source: Annual financial statements for FY2025 and interim financial statements for H1 2026

Key facts

Data as of

Saudi Aramco (Tadawul: 2222) · SAR · fiscal year ends 31 December · figures from the company's financial statements; derived values are marked.

Revenue (SAR trn)
1.56
FY2025 (ended ) · the company's financial statements
Revenue, TTM (SAR trn)
1.66
TTM to · derived
Revenue by quarter, from SAR 417 bn in Q3 2024 to SAR 451 bn in Q2 2026
Net income attributable to shareholders (SAR bn)
348
FY2025 (ended ) · the company's financial statements
Operating margin
45.3%
FY2025 (ended ) · derived
Operating income includes other income related to sales, which revenue excludes.
Free cash flow (SAR bn)
320
FY2025 (ended ) · derived
Net debt (SAR bn)
174
at · derived: total debt minus cash and short-term investments

Fundamentals profile

vs Saudi Aramco's own FY2021–FY2025 range (fewer than 5 covered peers) · TTM to Q2 2026 · Data as of

Each row places Saudi Aramco's value against its own FY2021–FY2025 range. It describes; it does not rate. There is no overall score. How we calculate this

Saudi Aramco fundamentals profile compared with its own FY2021–FY2025 range. Each row names its period; values are percentages, multiples or years.
DimensionMetricSaudi AramcoOwn 5-year medianPositionRange
GrowthRevenue, 3-year CAGR to FY2025−8.1%Own 5-year median not availablenot availablenot available
MarginsOperating margin (TTM to Q2 2026)Operating income includes other income related to sales, which revenue excludes.47.4%Own 5-year median 52.5%Below its 5-year median
Lower (45.3%) Higher (57.3%)
Cash flowFCF margin (TTM to Q2 2026)Operating income includes other income related to sales, which revenue excludes.18.5%Own 5-year median 23.0%Below its 5-year median
Lower (19.5%) Higher (29.9%)

Source: Saudi Aramco financial statements. Derived by StockFactsheet. Data as of

Compared with Saudi Aramco's own FY2021–FY2025 range because fewer than 5 covered peers exist. Descriptive only; not a rating.

How much revenue did Saudi Aramco report in Q2 2026?

Saudi Aramco's revenue was SAR 450.8 billion in Q2 2026, the quarter ended 30 Jun 2026, up 19.0% on Q2 2025. In Q1 2026 it was SAR 433.1 billion, up 6.8% on Q1 2025. Across the 8 quarters from Q3 2024 to Q2 2026, revenue ranged from SAR 378.8 billion to SAR 450.8 billion.

Chart 1

Saudi Aramco quarterly revenue, Q3 2024 to Q2 2026

SAR bn · quarters ended to

Revenue by quarter, from SAR 417 bn in Q3 2024 to SAR 451 bn in Q2 2026.0200400600450.8Q32024Q4Q12025Q2Q3Q4Q12026Q2stockfactsheet.com
Source: Saudi Aramco financial statements Data as of
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Table 1 Saudi Aramco quarterly revenue, margins and profit, Q3 2024–Q2 2026 (SAR millions) SAR millions, except per-share data (SAR) and percentages · Fiscal year ends 31 December
SAR mQ2 2026ended Q1 2026ended Q4 2025ended Q3 2025ended Q2 2025ended Q1 2025ended Q4 2024ended Q3 2024ended
Revenue450,772433,101388,700 D386,165378,831405,646392,923 D416,628
Revenue YoY %increased 19.0%increased 6.8%decreased 1.1%decreased 7.3%not availablenot availablenot availablenot available
Operating income216,151222,536154,849 D193,520167,092191,361173,311 D192,815
Operating margin %48.0% 151.4% 139.8% 150.1% 144.1% 147.2% 144.1% 146.3% 1
Net income attributable to shareholders121,506120,13169,470 D97,26485,63295,67686,756 D97,621
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Source: Saudi Aramco financial statements Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • Not available

1 Operating income includes other income related to sales, which revenue excludes.

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Revenue was SAR 416.6 billion in Q3 2024 and SAR 386.2 billion in Q3 2025, a fall of 7.3%. Q4 2025 revenue was SAR 388.7 billion, 1.1% below SAR 392.9 billion in Q4 2024. Both Q4 figures are our derivation, the full year less the first nine months, so they carry the marker D. The year-on-year changes are our calculation.

Operating income was SAR 216.2 billion in Q2 2026 and SAR 222.5 billion in Q1 2026. Net income, the part attributable to shareholders' equity, was SAR 121.5 billion in Q2 2026 and SAR 120.1 billion in Q1 2026. In Q2 2025 it was SAR 85.6 billion.

The revenue on this page is the line the statements label Revenue. Below it the statements show other income related to sales, and the two add up to a separate total, revenue and other income related to sales. The ADNOC Gas stock fundamentals page covers another Gulf energy company, listed in Abu Dhabi.

How did Saudi Aramco's operating and net margins change from FY2021 to FY2025?

Saudi Aramco's operating margin, our calculation, was 45.3% in FY2025, against 57.3% in FY2021, the first of the five years shown. Its net margin, our calculation, was 22.3% in FY2025 against 29.3% in FY2021. In FY2025, revenue was SAR 1.56 trillion and net income attributable to shareholders' equity was SAR 348 billion.

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Table 2 Saudi Aramco annual revenue and margins, FY2021–FY2025 (SAR millions) SAR millions, except per-share data (SAR) and percentages · Fiscal year ends 31 December
SAR mFY2025ended FY2024ended FY2023ended FY2022ended FY2021ended
Revenue1,559,3421,637,2991,653,2812,006,9551,346,930
Revenue YoY %decreased 4.8%decreased 1.0%decreased 17.6%increased 49.0%increased 75.4%
Operating margin %45.3% 147.3% 152.5% 157.0% 157.3% 1
Net margin %22.3% 124.1% 127.4% 129.8% 129.3% 1
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Source: Saudi Aramco financial statements Data as of

1 Operating income includes other income related to sales, which revenue excludes.

Arrows show direction of change only, not whether a change is good or bad.

Operating margin was 57.0% in FY2022, 52.5% in FY2023 and 47.3% in FY2024. It fell in every year from FY2022 to FY2025, and no year in that span showed a rise. Net margin rose to 29.8% in FY2022, then fell to 27.4% in FY2023 and to 24.1% in FY2024.

Both margins divide by revenue, the line the statements label Revenue. Operating income includes other income related to sales, which revenue excludes. Net income is reached from operating income, so the same note applies to the net margin, and every margin on this page should be read with it.

Revenue rose 75.4% in FY2021 and 49.0% in FY2022, then fell 17.6% in FY2023, 1.0% in FY2024 and 4.8% in FY2025, our calculation. These growth rates compare each year with the one before it. The income statements behind these margins are on the Saudi Aramco financial statements page.

What did Saudi Aramco's FY2023 statements change in its FY2022 per-share figures?

Saudi Aramco's FY2023 statements re-printed its FY2022 earnings per share as SAR 2.47 per share. The FY2022 statements had first printed SAR 2.72 per share for the same year. The weighted average share count for FY2022 was re-printed as 241,907 million shares, against 219,913 million shares first printed.

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Table 3 Saudi Aramco restated annual figures, FY2022–FY2024 (SAR millions) SAR millions, except per-share data (SAR) and percentages
SAR mFY2024ended FY2022ended
SG&A88,931 R83,700
Diluted EPS (SAR)1.632.47 R
Diluted shares (m)241,894241,907 R
Basic EPS (SAR)1.632.47 R
Diluted EPS (SAR)1.632.47 R
Diluted shares (m)241,894241,907 R
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Source: Saudi Aramco financial statements Data as of

  • R Restated or reclassified in Saudi Aramco financial statements approved ; originally reported SAR 89,235 m in Saudi Aramco financial statements approved .
  • R Restated or reclassified in Saudi Aramco financial statements approved ; originally reported SAR 2.72 in Saudi Aramco financial statements approved .
  • R Restated or reclassified in Saudi Aramco financial statements approved ; originally reported 219,913 m shares in Saudi Aramco financial statements approved .
  • R Restated or reclassified in Saudi Aramco financial statements approved ; originally reported SAR 2.72 in Saudi Aramco financial statements approved .

The FY2023 statements say earnings per share for 2023 and 2022 were recalculated for the bonus shares approved in May 2023. A bonus issue adds shares to the count without adding anything to net income. Per-share figures printed before the issue are therefore on an earlier share basis.

Diluted earnings per share was SAR 1.63 per share in FY2024, on 241,894 million shares. That count is close to the re-printed FY2022 count, which includes the May 2023 bonus shares. The FY2024 and FY2025 statements describe no later bonus issue, so both years sit on the same share basis. Per-share figures before FY2022 are not available on this page, because later reports re-printed the share count after the bonus issues.

The FY2025 statements also say certain 2024 comparative amounts were reclassified to conform to the current year presentation. The table marks FY2024 selling, administrative and general expenses R, because that line was re-printed.

How we got these numbers

Every figure comes from Saudi Aramco's published financial statements. Derived values are marked D and explained below.

Full method for this page
Source documents
Interim and annual financial statements (FY2021 to Q2 2026)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. EBITDA = operating income + depreciation and amortisation (our calculation). Net debt = total debt − cash and short-term investments. CAGR = compound annual growth over three fiscal years.
Restatements
Restated or reclassified figures carry the R marker; its footnote gives the originally reported value.
Comparator
Each profile row compares the current value with Saudi Aramco's own last five fiscal years, FY2021 to FY2025: the median of those five years and their range, from the lowest to the highest. A current value outside that range is drawn just past the end of the strip. Fewer than 5 covered peers exist, so there is no sector median yet.
Currency
As reported (SAR); no FX conversion.
Re-keying
Figures keyed from the issuer's published statements (PDF) with our entry tool, then checked by code against the PDF's own text (the figure on its cited page, in the row with its printed label) and by our fact-check step. The column and the sign are recorded, and lists any mismatch for review.
Read the full methodology

Latest filings and disclosures

The financial statements behind Saudi Aramco's figures, newest first.

(opens in new tab)
  1. Issuer statement Saudi Aramco interim financial statements, H1 2026 aramco.com
  2. Issuer statement Saudi Aramco interim financial statements, Q1 2026 aramco.com
  3. Issuer statement Saudi Aramco annual financial statements, FY2025 aramco.com
  4. Issuer statement Saudi Aramco interim financial statements, M9 2025 aramco.com
  5. Issuer statement Saudi Aramco annual financial statements, FY2024 aramco.com
  6. Issuer statement Saudi Aramco annual financial statements, FY2023 aramco.com
  7. Issuer statement Saudi Aramco annual financial statements, FY2022 aramco.com
  8. Issuer statement Saudi Aramco annual financial statements, FY2021 aramco.com
All reports on Saudi Aramco's investor-relations site

Company identifiers

Data as of
(opens in new tab)
Legal name
Saudi Arabian Oil Company
Exchange
Tadawul
Ticker
2222
Sector
Energy
Country
Saudi Arabia
Fiscal year end
31 December
Reporting currency
SAR
Accounting standard
IFRS
Latest filing in this page's data
Saudi Aramco interim financial statements, H1 2026 · approved
Investor relations
aramco.com

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

(opens in new tab)
  1. [1] Issuer statement Saudi Aramco interim financial statements, H1 2026 Saudi Arabian Oil Company · approved · aramco.com
  2. [2] Issuer statement Saudi Aramco interim financial statements, Q1 2026 Saudi Arabian Oil Company · approved · aramco.com
  3. [3] Issuer statement Saudi Aramco annual financial statements, FY2025 Saudi Arabian Oil Company · approved · aramco.com
  4. [4] Issuer statement Saudi Aramco interim financial statements, M9 2025 Saudi Arabian Oil Company · approved · aramco.com
  5. [5] Issuer statement Saudi Aramco annual financial statements, FY2024 Saudi Arabian Oil Company · approved · aramco.com
  6. [6] Issuer statement Saudi Aramco annual financial statements, FY2023 Saudi Arabian Oil Company · approved · aramco.com
  7. [7] Issuer statement Saudi Aramco annual financial statements, FY2022 Saudi Arabian Oil Company · approved · aramco.com
  8. [8] Issuer statement Saudi Aramco annual financial statements, FY2021 Saudi Arabian Oil Company · approved · aramco.com
  9. [9] Our dataset Keyed from Saudi Aramco's Q2 2026 financial statements (PDF) and checked by code against the PDF's text; signed off on .

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Cite this page

StockFactsheet (2026). "Saudi Aramco (Tadawul: 2222) stock fundamentals." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/2222-tadawul/

Not investment advice

For information only. StockFactsheet does not recommend buying, selling or holding any security. Figures can contain errors; always check the original filings. Full disclaimer

Author and editor

OffScriptBySami

Founder and editor, StockFactsheet

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How you can check this page

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  • Signed off by OffScriptBySami on , after the figure, wording and source checks.
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How this page was made
  1. Data imported (the issuer's statements, )
  2. Drafted from our dataset only
  3. Automated checks and review steps passed ()
  4. Signed off and published by OffScriptBySami (, GST)

Update history

  1. Published First published version.