Saudi Aramco (2222) financial statements: income, balance sheet and cash flow
Tadawul: 2222 · Energy · Saudi Arabia
In brief
Saudi Aramco (Tadawul: 2222) posted revenue of SAR 450.8 billion and net income attributable to shareholders of SAR 121.5 billion for Q2 2026, the quarter ended 30 Jun 2026, in its interim financial statements. Against total debt of SAR 355.2 billion it held cash and short-term investments of SAR 180.8 billion, so net debt was SAR 174.4 billion, our calculation.
Key facts
Saudi Aramco (Tadawul: 2222) · SAR · fiscal year ends 31 December · figures from the company's financial statements; derived values are marked.
What the numbers show
Saudi Aramco's income statement for Q2 2026, the quarter ended 30 Jun 2026, shows revenue of SAR 450.8 billion. Revenue was up 19.0% on Q2 2025, our calculation, and net income was SAR 121.5 billion. Operating income was SAR 216.2 billion, an operating margin of 48.0%, and the net margin was 27.0%, both our calculation. Operating income includes other income related to sales, which revenue excludes, and both margins carry that note.
Annual revenue was SAR 1,559.3 billion in FY2025 and SAR 2,007.0 billion in FY2022. Its compound annual growth rate from FY2021 to FY2025 was 3.7%, our calculation. Net income was SAR 348.0 billion in FY2025, a net margin of 22.3% against 29.8% in FY2022, our calculation, with the other income note above. Net income is the part attributable to shareholders' equity, so it leaves out non-controlling interests.
On the balance sheet, total assets were SAR 2,679.3 billion at 30 Jun 2026, against SAR 2,552.0 billion at 31 Dec 2025. Trade receivables rose from SAR 165.4 billion to SAR 203.3 billion over those six months. Inventory rose from SAR 70.5 billion to SAR 100.0 billion over the same period.
Total debt is the total borrowings the statements print, lease liabilities included. It was SAR 355.2 billion at 30 Jun 2026, down from SAR 379.5 billion at 31 Mar 2026. Cash and short-term investments were SAR 180.8 billion, so net debt was SAR 174.4 billion, up from SAR 135.3 billion at 31 Mar 2026, our calculation. The company's own gearing table deducts more asset lines, so its net debt differs.
In the cash flow statement, cash from operations was SAR 95.4 billion in Q2 2026 and SAR 115.2 billion in Q1 2026. Capital expenditure was SAR 49.4 billion and SAR 45.4 billion in those quarters. Free cash flow, our calculation, was SAR 46.0 billion in Q2 and SAR 69.9 billion in Q1. The Q2 cells are our derivation, the six months less Q1, and carry the marker D.
Earnings per share, basic and diluted, was SAR 0.50 per share in Q2 2026 against SAR 0.35 per share in Q2 2025. For FY2025 it was SAR 1.44 per share, and for FY2022 SAR 2.47 per share as re-printed in the FY2023 statements. Per-share figures before FY2022 are not available, because later reports re-printed the share count after bonus issues. Saudi Aramco stock fundamentals covers revenue, margins and the re-printed per-share figures.
Income statement
Saudi Aramco quarterly revenue, Q3 2024 to Q2 2026
SAR bn · quarters ended to
Annual
| SAR m | FY2025ended | FY2024ended | FY2023ended | FY2022ended | FY2021ended | CAGRFY21–FY25 |
|---|---|---|---|---|---|---|
| Revenue | 1,559,342 | 1,637,299 | 1,653,281 | 2,006,955 | 1,346,930 | |
| Revenue YoY % | not available | |||||
| R&D | 5,443 | 5,816 | 5,197 | 4,419 | 3,873 | |
| SG&A | 83,496 | 88,931 R | 76,890 | 83,700 | 59,496 | |
| Operating income | 706,822 | 774,625 | 868,287 | 1,144,077 | 771,918 | |
| Operating margin % | 45.3% 1 | 47.3% 1 | 52.5% 1 | 57.0% 1 | 57.3% 1 | not available |
| Net interest | −2,504 D | 6,328 D | 14,089 D | −927 D | −11,263 D | n/m |
| Pre-tax income | 702,860 | 782,010 | 888,067 | 1,152,962 | 769,521 | |
| Income tax | 352,650 | 383,588 | 433,303 | 548,957 | 357,125 | |
| Net income | 348,042 | 393,891 | 452,753 | 597,215 | 395,203 | |
| Net margin % | 22.3% 1 | 24.1% 1 | 27.4% 1 | 29.8% 1 | 29.3% 1 | not available |
| Per share | ||||||
| Diluted EPS (SAR) | 1.44 | 1.63 | 1.87 | 2.47 R | not available | not available |
| Diluted shares (m) | 241,882 | 241,894 | 241,933 | 241,907 R | not available | not available |
Source: Saudi Aramco financial statements
- R Restated or reclassified in Saudi Aramco financial statements approved ; originally reported SAR 89,235 m in Saudi Aramco financial statements approved .
- D Net interest = interest income − interest expense, both from the same filing.
- 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 .
- Not available
- Not meaningful
1 Operating income includes other income related to sales, which revenue excludes.
CAGR: compound annual growth rate from FY2021 to FY2025, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.
Totals may not add up because of rounding.
Arrows show direction of change only, not whether a change is good or bad.
Quarterly
| SAR m | Q2 2026ended | Q1 2026ended | Q4 2025ended | Q3 2025ended | Q2 2025ended | Q1 2025ended | Q4 2024ended | Q3 2024ended |
|---|---|---|---|---|---|---|---|---|
| Revenue | 450,772 | 433,101 | 388,700 D | 386,165 | 378,831 | 405,646 | 392,923 D | 416,628 |
| Revenue YoY % | not available | not available | not available | not available | ||||
| R&D | 1,313 | 1,124 | 1,764 D | 1,260 | 1,277 | 1,142 | 2,003 D | 1,398 |
| SG&A | 24,648 | 35,971 | not available | 20,891 | 19,533 | 18,852 | not available | 17,476 |
| Operating income | 216,151 | 222,536 | 154,849 D | 193,520 | 167,092 | 191,361 | 173,311 D | 192,815 |
| Operating margin % | 48.0% 1 | 51.4% 1 | 39.8% 1 | 50.1% 1 | 44.1% 1 | 47.2% 1 | 44.1% 1 | 46.3% 1 |
| Pre-tax income | 214,656 | 222,078 | not available | not available | 166,469 | 190,294 | not available | not available |
| Income tax | 92,057 | 100,070 | 85,271 D | 93,181 | 81,447 | 92,751 | 88,501 D | 91,750 |
| Net income | 121,506 | 120,131 | 69,470 D | 97,264 | 85,632 | 95,676 | 86,756 D | 97,621 |
| Net margin % | 27.0% 1 | 27.7% 1 | 17.9% 1 | 25.2% 1 | 22.6% 1 | 23.6% 1 | 22.1% 1 | 23.4% 1 |
| Per share | ||||||||
| Diluted EPS (SAR) | 0.50 | 0.50 | not available | not available | 0.35 | 0.40 | not available | not available |
Source: Saudi Aramco financial statements
- 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.
Balance sheet
Annual
| SAR m | FY2025at | FY2024at | FY2023at | FY2022at | FY2021at |
|---|---|---|---|---|---|
| Cash and short-term investments | 257,742 D | 229,828 D | 383,316 D | 507,262 D | 326,652 D |
| Receivables | 165,444 | 167,884 | 163,919 | 164,442 | 140,373 |
| Inventory | 70,542 | 83,728 | 85,951 | 100,528 | 74,703 |
| PP&E (net) | 1,590,748 | 1,494,318 | 1,384,717 | 1,303,266 | 1,244,316 |
| Goodwill and intangibles | 164,825 | 164,581 | 164,554 | 159,328 | 160,668 |
| Total assets | 2,551,964 | 2,423,630 | 2,477,940 | 2,492,924 | 2,162,690 |
Source: Saudi Aramco financial statements
- D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
Totals may not add up because of rounding.
| SAR m | FY2025at | FY2024at | FY2023at | FY2022at | FY2021at |
|---|---|---|---|---|---|
| Total debt | 363,617 | 319,290 | 290,147 | 393,144 | 510,921 |
| Total liabilities | 830,220 | 772,275 | 740,848 | 826,777 | 882,022 |
| Net debt / (net cash) | 105,875 D | 89,462 D | −93,169 D | −114,118 D | 184,269 D |
Source: Saudi Aramco financial statements
- D Net debt = total debt minus cash and short-term investments; a negative value is net cash.
Totals may not add up because of rounding.
Quarterly
| SAR m | Q2 2026at | Q1 2026at | Q4 2025at | Q3 2025at | Q2 2025at | Q1 2025at | Q4 2024at | Q3 2024at |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | 180,831 D | 244,187 D | 257,742 D | 210,405 D | not available | not available | 229,828 D | not available |
| Receivables | 203,349 | 211,706 | 165,444 | 196,458 | not available | not available | 167,884 | not available |
| Inventory | 99,960 | 93,814 | 70,542 | 80,904 | not available | not available | 83,728 | not available |
| PP&E (net) | 1,614,231 | 1,615,178 | 1,590,748 | 1,576,922 | not available | not available | 1,494,318 | not available |
| Goodwill and intangibles | 165,517 | 164,933 | 164,825 | 165,462 | not available | not available | 164,581 | not available |
| Total assets | 2,679,259 | 2,661,959 | 2,551,964 | 2,516,431 | not available | not available | 2,423,630 | not available |
Source: Saudi Aramco financial statements
- D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
- Not available
Totals may not add up because of rounding.
| SAR m | Q2 2026at | Q1 2026at | Q4 2025at | Q3 2025at | Q2 2025at | Q1 2025at | Q4 2024at | Q3 2024at |
|---|---|---|---|---|---|---|---|---|
| Total debt | 355,236 | 379,507 | 363,617 | 356,540 | not available | not available | 319,290 | not available |
| Total liabilities | 883,428 | 903,648 | 830,220 | 824,803 | not available | not available | 772,275 | not available |
| Net debt / (net cash) | 174,405 D | 135,320 D | 105,875 D | 146,135 D | not available | not available | 89,462 D | not available |
Source: Saudi Aramco financial statements
- D Net debt = total debt minus cash and short-term investments; a negative value is net cash.
- Not available
Totals may not add up because of rounding.
Cash flow
Saudi Aramco quarterly free cash flow, Q3 2024 to Q2 2026
SAR bn · quarters ended to
Annual
| SAR m | FY2025ended | FY2024ended | FY2023ended | FY2022ended | FY2021ended |
|---|---|---|---|---|---|
| Cash from operations | 510,798 | 508,888 | 537,814 | 698,152 | 522,601 |
| Capital expenditure | −190,444 | −188,890 | −158,308 | −141,161 | −119,645 |
| Free cash flow | 320,354 D | 319,998 D | 379,506 D | 556,991 D | 402,956 D |
| Dividends paid | −320,447 | −465,918 | −366,674 | −281,318 | −281,305 |
| Share buybacks | 0 | −3,750 | 0 | not available | not available |
| Cash from investing | −203,902 | −2,861 | −54,019 | −389,009 | −135,741 |
| Cash from financing | −280,439 | −488,358 | −510,869 | −382,675 | −294,513 |
Source: Saudi Aramco financial statements
- D Free cash flow = cash from operations minus capital expenditure.
- Not available
Totals may not add up because of rounding.
Quarterly
| SAR m | Q2 2026ended | Q1 2026ended | Q4 2025ended | Q3 2025ended | Q2 2025ended | Q1 2025ended | Q4 2024ended | Q3 2024ended |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 95,365 D | 115,242 | 153,161 D | 135,445 D | 103,284 D | 118,908 | 134,275 D | not available |
| Capital expenditure | −49,389 D | −45,354 | −50,146 D | −47,081 D | −46,158 D | −47,059 | −53,185 D | not available |
| Free cash flow | 45,976 D | 69,888 D | 103,015 D | 88,364 D | 57,126 D | 71,849 D | 81,090 D | not available |
| Dividends paid | not available | −82,080 | −80,118 D | not available | not available | −80,104 | −116,451 D | not available |
| Share buybacks | −2,031 D | −266 | not available | not available | 0 D | 0 | not available | not available |
| Cash from investing | −54,697 D | −49,432 | −59,085 D | −38,353 D | −59,457 D | −47,007 | −42,004 D | not available |
| Cash from financing | −100,628 D | −78,096 | −44,850 D | −82,337 D | −67,407 D | −85,845 | −112,092 D | not available |
Source: Saudi Aramco financial statements
- D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
- D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
- D Free cash flow = cash from operations minus capital expenditure.
- Not available
Totals may not add up because of rounding.
Per share and dividends
Notes on these figures
- R Restated or reclassified
- Restated or reclassified in Saudi Aramco financial statements approved ; originally reported SAR 89,235 m in Saudi Aramco financial statements approved .
- Restated or reclassified in Saudi Aramco financial statements approved ; originally reported SAR 2.72 in Saudi Aramco financial statements approved .
- Restated or reclassified in Saudi Aramco financial statements approved ; originally reported 219,913 m shares in Saudi Aramco financial statements approved .
- Restated or reclassified in Saudi Aramco financial statements approved ; originally reported SAR 2.72 in Saudi Aramco financial statements approved .
- D Derived by StockFactsheet
- Net interest = interest income − interest expense, both from the same filing.
- Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
- Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
- Net debt = total debt minus cash and short-term investments; a negative value is net cash.
- Free cash flow = cash from operations minus capital expenditure.
- Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
- Template: standard statement set (not bank or insurer).
- Arrows show direction of change only, not whether a change is good or bad.
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. CAGR = compound annual growth across the annual table.
- Restatements
- Restated or reclassified figures carry the R marker; its footnote gives the originally reported value.
- Comparator
- None: this page shows the company's own figures only.
- 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.
CSV downloads
One file per statement, with the annual and quarterly figures on this page in full units.
Sources and data
Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).
(opens in new tab)- [1] Issuer statement Saudi Aramco interim financial statements, H1 2026
- [2] Issuer statement Saudi Aramco interim financial statements, Q1 2026
- [3] Issuer statement Saudi Aramco annual financial statements, FY2025
- [4] Issuer statement Saudi Aramco interim financial statements, M9 2025
- [5] Issuer statement Saudi Aramco annual financial statements, FY2024
- [6] Issuer statement Saudi Aramco annual financial statements, FY2023
- [7] Issuer statement Saudi Aramco annual financial statements, FY2022
- [8] Issuer statement Saudi Aramco annual financial statements, FY2021
- [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 .
Cite this page
StockFactsheet (2026). "Saudi Aramco (2222) financial statements: income, balance sheet and cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/2222-tadawul/financials/
For information only. StockFactsheet does not recommend buying, selling or holding any security. Figures can contain errors; always check the original filings. Full disclaimer
Update history
- Published First published version.