Saudi Aramco posts 49% profit slump to SAR 131.3 bln in 9M 2020

The Saudi Arabian Oil Co. (Saudi Aramco) posted a 49% drop in net profit after Zakat and tax to SAR 131.3 billion for the first nine months of 2020, compared to SAR 255.7 billion in the corresponding period last year.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	924,587.00	618,293.00	(33.1 %)
Gross Income	575,857.00	361,936.00	(37.1 %)
Operating Income	513,073.00	278,870.00	(45.6 %)
Net Income	255,805.00	133,180.00	(47.9 %)
Average Shares	242,000.00	242,000.00	-
EPS (Riyals)	1.06	0.55	(47.9 %)

The decrease was attributed to lower crude prices, sales volumes, and reduced refining and chemicals margins.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	304,646.00	228,594.00	(25.0 %)
Gross Income	185,810.00	129,379.00	(30.4 %)
Operating Income	165,196.00	96,046.00	(41.9 %)
Net Income	79,788.00	44,278.00	(44.5 %)
Average Shares	242,000.00	242,000.00	-
EPS (Riyals)	0.33	0.18	(44.5 %)

Item	Q2 2020	Q3 2020	Change‬
Revenues	139,354.00	228,594.00	64.0 %
Gross Income	81,121.00	129,379.00	59.5 %
Operating Income	53,092.00	96,046.00	80.9 %
Net Income	25,370.00	44,278.00	74.5 %
Average Shares	242,000.00	242,000.00	-
EPS (Riyals)	0.10	0.18	74.5 %

The third quarter net profit after Zakat and tax fell by 45% to SAR 44.2 billion, compared to SAR 79.84 billion a year earlier.

The slump was attributed to the impact of lower crude prices, sales volumes, weaker refining and chemicals margins. It was, however, partly offset by a decrease in the royalty rate from 20% to 15%, lower income taxes and Zakat due to lower earnings, along with higher other income related to gas products sales.

On a sequential basis, net profit surged 79.6%, backed by higher crude oil prices, partly offset by a decrease in crude oil volumes sold, and an increase in income taxes and Zakat mainly due to higher earnings for the third quarter.

View other reports

Share Price

Saudi Arabian Oil Co. (SAUDI ARAMCO)

	Current
Market Cap (M Riyal)	6,788,100.00
Enterprise Value (EV) (M)	6,972,190.00
Shares Outstanding ((M))	242,000.00
EPS ( Riyal) (TTM)	1.69
Book Value (BV) ( Riyal)	6.15
Par Value	-
Adjusted P/E (Last12)	16.55
P/E (TTM)	16.56
Price/book	4.56
Return on Average Assets (%) (TTM)	16.5
Return on Average Equity (%) (TTM)	27.0

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2011	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-
2011	-	-	-	-	-	-
Q1 2012	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-
2012	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	504,596.00	-	391,909.00	-	305,700.00	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	990,659.00	96.3 %	652,986.00	66.6 %	582,915.00	90.7 %
Q1 2018	287,510.00	-	193,232.00	-	174,917.00	-
Q2 2018	341,276.00	-	222,990.00	-	204,651.00	-
Q3 2018	363,374.00	-	240,041.00	-	217,347.00	-
Q4 2018	354,857.00	-	216,943.00	-	201,490.00	-
2018	1,347,017.00	36.0 %	873,206.00	33.7 %	798,405.00	37.0 %
Q1 2019	297,634.00	3.5 %	187,277.00	(3.1 %)	166,621.00	(4.7 %)
Q2 2019	322,307.00	(5.6 %)	202,770.00	(9.1 %)	181,256.00	(11.4 %)
Q3 2019	304,646.00	(16.2 %)	185,810.00	(22.6 %)	165,196.00	(24.0 %)
Q4 2019	312,198.00	(12.0 %)	188,077.00	(13.3 %)	161,798.00	(19.7 %)
2019	1,236,785.00	(8.2 %)	763,934.00	(12.5 %)	674,871.00	(15.5 %)
Q1 2020	250,345.00	(15.9 %)	151,436.00	(19.1 %)	129,732.00	(22.1 %)
Q2 2020	139,354.00	(56.8 %)	81,121.00	(60.0 %)	53,092.00	(70.7 %)
Q3 2020	228,594.00	(25.0 %)	129,379.00	(30.4 %)	96,046.00	(41.9 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2010	-	-	-	-	-	-
2011	-	-	-	-	-	-
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	504,596.00	-	391,909.00	-	305,700.00	-
2017	990,659.00	96.3 %	652,986.00	66.6 %	582,915.00	90.7 %
2018	1,347,017.00	36.0 %	873,206.00	33.7 %	798,405.00	37.0 %
2019	1,236,785.00	(8.2 %)	763,934.00	(12.5 %)	674,871.00	(15.5 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2011	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-
2011	-	-	-	-	-	-
Q1 2012	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-
2012	-	-	-	-	-	-
Q1 2013	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	48,349.00	-	0.20	-	48,349.00	0.20
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	283,198.00	485.7 %	1.17	-	283,198.00	1.17
Q1 2018	91,787.00	-	0.38	-	91,787.00	0.38
Q2 2018	106,574.00	-	0.44	-	106,574.00	0.44
Q3 2018	113,375.00	-	0.47	-	113,375.00	0.47
Q4 2018	104,460.00	-	0.43	-	104,460.00	0.43
2018	416,196.00	47.0 %	1.72	-	416,196.00	1.72
Q1 2019	83,226.00	(9.3 %)	0.34	-	83,226.00	0.34
Q2 2019	92,791.00	(12.9 %)	0.38	-	92,791.00	0.38
Q3 2019	79,788.00	(29.6 %)	0.33	-	79,788.00	0.33
Q4 2019	75,011.00	(28.2 %)	0.31	-	75,011.00	0.31
2019	330,816.00	(20.5 %)	1.37	-	330,816.00	1.37
Q1 2020	63,532.00	(23.7 %)	0.26	-	63,532.00	0.26
Q2 2020	25,370.00	(72.7 %)	0.10	-	25,370.00	0.10
Q3 2020	44,278.00	(44.5 %)	0.18	-	44,278.00	0.18

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2010	-	-	-	-	-	-
2011	-	-	-	-	-	-
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	48,349.00	-	0.20	-	48,349.00	0.20
2017	283,198.00	485.7 %	1.17	-	283,198.00	1.17
2018	416,196.00	47.0 %	1.72	-	416,196.00	1.72
2019	330,816.00	(20.5 %)	1.37	-	330,816.00	1.37

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	77.67 %	67.24 %	9.58 %
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	65.91 %	62.59 %	28.59 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	64.83 %	60.87 %	30.90 %
2018	64.83 %	62.34 %	30.90 %
Q1 2019	63.90 %	60.72 %	30.04 %
Q2 2019	63.30 %	60.72 %	29.43 %
Q3 2019	61.96 %	59.63 %	28.16 %
Q4 2019	61.77 %	58.63 %	26.75 %
2019	61.77 %	58.63 %	26.75 %
Q1 2020	61.21 %	58.08 %	26.16 %
Q2 2020	60.25 %	56.37 %	24.21 %
Q3 2020	59.11 %	54.36 %	22.37 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	77.67 %	67.24 %	9.58 %
2017	65.91 %	62.59 %	28.59 %
2018	64.83 %	62.34 %	30.90 %
2019	61.77 %	58.63 %	26.75 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	67.21 %	-	31.92 %
Q2 2018	65.34 %	-	31.23 %
Q3 2018	66.06 %	62.71 %	31.20 %
Q4 2018	61.14 %	59.90 %	29.44 %
Q1 2019	62.92 %	60.14 %	27.96 %
Q2 2019	62.91 %	59.94 %	28.79 %
Q3 2019	60.99 %	58.49 %	26.19 %
Q4 2019	60.24 %	55.99 %	24.03 %
Q1 2020	60.49 %	57.81 %	25.38 %
Q2 2020	58.21 %	50.01 %	18.21 %
Q3 2020	56.60 %	51.00 %	19.37 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2011	-	-	-	-
Q2 2011	-	-	-	-
Q3 2011	-	-	-	-
Q4 2011	-	-	-	-
Q1 2012	-	-	-	-
Q2 2012	-	-	-	-
Q3 2012	-	-	-	-
Q4 2012	-	-	-	-
Q1 2013	-	-	-	-
Q2 2013	-	-	-	-
Q3 2013	-	-	-	-
Q4 2013	-	-	-	-
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	242,000.00	-	-	-
Q2 2018	242,000.00	-	-	-
Q3 2018	242,000.00	-	-	-
Q4 2018	242,000.00	1.72	1.72	4.20
Q1 2019	242,000.00	1.68	1.68	-
Q2 2019	242,000.00	1.63	1.63	4.19
Q3 2019	242,000.00	1.49	1.49	4.29
Q4 2019	242,000.00	1.37	1.37	4.28
Q1 2020	242,000.00	1.29	1.29	4.42
Q2 2020	242,000.00	1.01	1.01	4.24
Q3 2020	242,000.00	0.86	0.86	4.15

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2010	-	-	-	-
2011	-	-	-	-
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	242,000.00	0.20	0.20	2.99
2017	242,000.00	1.17	1.17	3.36
2018	242,000.00	1.72	1.72	4.20
2019	242,000.00	1.37	1.37	4.28

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	21.32	21.32	6.81
Q1 2020	19.39	19.39	5.64
Q2 2020	26.68	26.68	6.34
Q3 2020	34.50	34.50	7.15

Period	P/E	Adjusted P/E	Price/book
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	21.32	21.32	6.81

Business Segments (Million)

Compared With The

Period	upstream	Downstream	companies	Eliminations
Q1 2019	237,105.00	122,907.00	339.00	(62717.00)
Q2 2019	257,113.00	136,125.00	345.00	(71276.00)
Q3 2019	236,714.00	130,565.00	362.00	(62995.00)
Q4 2019	239,463.00	137,822.00	593.00	(65680.00)
Q1 2020	192,737.00	112,283.00	484.00	(55159.00)
Q2 2020	95,490.00	71,739.00	409.00	(28284.00)
Q3 2020	154,065.00	121,906.00	363.00	(47740.00)

Period	upstream	Downstream	companies	Eliminations
2016	525,855.00	167,734.00	1,083.00	(190076.00)
2017	816,634.00	415,827.00	1,210.00	(243012.00)
2018	1,102,161.00	552,825.00	1,585.00	(309554.00)
2019	970,395.00	527,419.00	1,639.00	(262668.00)

Analysts Estimates (Million)

Item	Q3 2020 (e)	Q3 2020 (a)	Change‬
Average	49,327.00	44,278.00	(10.2 %)

Estimates vs Actual (Million)

Item	Q3 2020 (e)	Q3 2020 (a)	Change
Al Rajhi Capital	49,327.00	44,278.00	(10.2) %

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Saudi Aramco posts 49% profit slump to SAR 131.3 bln in 9M 2020

Financials (M)

Current Quarter Comparison (M)

View other reports

Share Price

Saudi Arabian Oil Co. (SAUDI ARAMCO)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2020 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Popular Links

Quick Links

About Us

Join Us

Follow Us

Saudi Aramco posts 49% profit slump to SAR 131.3 bln in 9M 2020

Financials (M)

Current Quarter Comparison (M)

View other reports

Share Price

Saudi Arabian Oil Co. (SAUDI ARAMCO)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2020

Revenue by Business Segment (Latest) 2020 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Popular Links

Quick Links

About Us

Join Us

Follow Us

Business Segments (Million)