Saudi Tadawul Group 9M Profit Falls 34.6% to SAR 195.8 Million

Saudi Tadawul Group Holding Co. (1111) reported SAR 195.8 million in net profit for the nine months ended September 30, 2026, down 34.6% from SAR 299.42 million a year earlier. Operating revenue declined 5.8% to SAR 909.3 million, highlighting the Group’s sensitivity to trading activity in Saudi capital markets.

Third-quarter profit drops 41.8%

Third-quarter net profit was SAR 48.1 million, versus SAR 82.66 million a year earlier, a decline of 41.8%. Profit was also 47.8% below the second quarter of 2026. Quarterly revenue decreased 8.1% to SAR 292.2 million and operating profit stood at SAR 29.5 million.

What drove weaker earnings?

For the nine-month period, Capital Markets revenue fell 13.4% and Post Trade Services revenue declined 5.7%, while Data and Technology Services grew 5.8%. Operating expenses including depreciation and amortization increased, adding to pressure on profitability. Nine-month operating profit fell 44% to SAR 139.3 million; EBITDA was SAR 263.2 million, down 20%.

Market News analysis: revenue diversification faces a test

The results underline a two-part challenge: recovering trading-linked income and expanding revenue streams that are less dependent on market turnover. Growth in technology and data services has not yet offset weakness in the Group’s other segments. This is an analytical interpretation, not a guaranteed earnings or share-price forecast.

What investors should watch

Key indicators include market trading value, post-trade services income, the contribution of technology and data to growth, and the trajectory of operating expenses and depreciation relative to revenue.

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