Financials of Tadawul’s 3 listed steel pipes firms: Argaam Charts

The three TASI-listed steel pipe companies — East Pipes Integrated Company for Industry, Saudi Steel Pipe Co. (SSP) and Arabian Pipes Co. — recently disclosed their financial results for the period ended December 2024.

East Pipes, which adopts a March-ending fiscal year (FY), posted SAR 296.5 million in net profit by the end of Q3 ended Dec. 31, 2024. It recorded a 12-month bottom line of SAR 476 million.

Meanwhile, during 2024, SSP and Arabian Pipes posted net earnings of roughly SAR 181 million and SAR 171 million, respectively.

East Pipes' trailing-12-months (TTM) earnings per share amounted to about SAR 15.11 in FY 2024/25. Arabian Pipes followed with around SAR 1.14 per share in 2024 (or SAR 11.40 per share as its par value is SAR 1), then SSP an EPS of SAR 3.55 in 2024.

In terms of revenues for the last 12 months, East Pipes led with nearly SAR 2.15 billion. SSP came next at SAR 1.63 billion, followed by Arabian Pipes (SAR 1.14 billion).

East Pipes' TTM P/E ratio came in at 9.58x for FY 2024/25, followed by Arabian Pipes (10.68x), then SSP (18.34x).

East Pipes stock’s book value amounted to SAR 33.32 by the end of Q3 ended December 2024. Meanwhile, SSP recorded a book value of SAR 16.9 in 2024, while that of Arabian Pipes reached SAR 2.68 (or SAR 26.8 after adjusting the par value to SAR 10).

This came as East Pipes' net debt amounted to SAR (-67.8) million, followed by Arabian Pipes (SAR 308.65 million), then SSP (SAR 363 million).

For more details from Argaam CHARTS