Reading these tables
One table per measure. The rows are the
4 companies and then the industry, which is the
benchmark the others are read against rather than another company. Figures
are as the model carries them: ratios and multiples unscaled, days as days,
per-share amounts in riyals, a minus sign for negatives. The last column is
shaded because it is the year being reported on.
Follow one company
Maharah Al Mawarid SMASCO Tamkeen
Show all
The cohort is the listed sector: all four manpower companies on the Main Market report to 31 December and all four are covered here, so a “sector median” on this site is the median of the whole listed industry. The workbook begins in FY2021 for every company, which is where every chart and table on these pages starts. Three of the four listed during the period, so quoted share prices, market values and every price multiple begin part way across it.
Growth Rates YoY Revenue Growth Rate# Company 2021 2022 2023 2024 2025 Maharah 0.0% 27.7% 12.3% 18.3% 39.2% Al Mawarid 0.0% 42.3% 33.5% 60.8% 28.8% SMASCO 0.0% 7.2% -0.7% 3.6% 10.7% Tamkeen 0.0% 19.0% 16.3% 45.5% 40.5% Industry 0.0% 20.7% 11.8% 25.6% 28.4%
5Yr CAGR# Company 2021 2022 2023 2024 2025 Maharah 0.0% 0.0% 0.0% 0.0% 18.7% Al Mawarid 0.0% 0.0% 0.0% 0.0% 31.5% SMASCO 0.0% 0.0% 0.0% 0.0% 4.1% Tamkeen 0.0% 0.0% 0.0% 0.0% 23.1% Industry 0.0% 0.0% 0.0% 0.0% 16.8%
YoY Free Cash Flows Growth Rate# Company 2021 2022 2023 2024 2025 Maharah 0.0% 1,008.4% 3.4% -82.7% -190.7% Al Mawarid 0.0% -283.3% 124.2% -6.5% 78.4% SMASCO 0.0% 53.5% -3.2% -38.2% 36.7% Tamkeen 0.0% -10.6% -34.1% -55.1% 605.5% Industry 0.0% 168.5% 6.8% -51.4% 52.8%
YoY EPS Growth Rate# Company 2021 2022 2023 2024 2025 Maharah 0.0% -22.8% -28.6% 83.7% 56.2% Al Mawarid 0.0% -9.0% 16.8% 7.5% 45.1% SMASCO 0.0% -6.3% 17.9% -24.0% 19.2% Tamkeen 0.0% 2.5% -45.6% 9.0% 12.1% Industry 0.0% -5.7% -3.2% 16.9% 36.4%
Working Capital Turnover Accounts Receivables Turnover# Company 2021 2022 2023 2024 2025 Maharah 5.07 6.27 6.36 6.60 6.96 Al Mawarid 5.89 6.94 6.26 7.12 6.94 SMASCO 6.49 6.99 6.09 5.50 5.52 Tamkeen 12.43 12.56 8.33 5.89 5.46 Industry 12.18 6.97 6.38 6.31 6.36
Inventory Turnover# Company 2021 2022 2023 2024 2025 Maharah 0.00 0.00 0.00 0.00 0.00 Al Mawarid 0.00 0.00 0.00 0.00 0.00 SMASCO 0.00 0.00 0.00 0.00 0.00 Tamkeen 0.00 0.00 0.00 0.00 0.00 Industry 0.00 0.00 0.00 0.00 0.00
Accounts Payables Turnover# Company 2021 2022 2023 2024 2025 Maharah 11.11 17.27 17.85 16.65 17.70 Al Mawarid 10.95 18.82 28.52 52.97 46.61 SMASCO 55.02 52.61 23.37 18.99 16.69 Tamkeen 12.19 16.24 18.10 25.41 43.04 Industry 34.49 23.14 21.04 22.67 23.24
Cash Conversion Cycle Days Sales Outstanding# Company 2021 2022 2023 2024 2025 Maharah 72 58 57 55 52 Al Mawarid 62 53 58 51 53 SMASCO 56 52 60 67 66 Tamkeen 29 29 44 62 67 Industry 30 52 57 58 57
Days Inventory Outstanding# Company 2021 2022 2023 2024 2025 Maharah 0 0 0 0 0 Al Mawarid 0 0 0 0 0 SMASCO 0 0 0 0 0 Tamkeen 0 0 0 0 0 Industry 0 0 0 0 0
Days Payables Outstanding# Company 2021 2022 2023 2024 2025 Maharah 33 21 20 22 21 Al Mawarid 33 19 13 7 8 SMASCO 7 7 16 19 22 Tamkeen 30 22 20 14 8 Industry 11 16 17 16 16
Cash Conversion Cycle# Company 2021 2022 2023 2024 2025 Maharah 39 37 37 33 32 Al Mawarid 29 33 46 45 45 SMASCO 50 45 44 47 44 Tamkeen -1 7 24 48 58 Industry 19 37 40 42 42
CapEx CapEx % of Revenues# Company 2021 2022 2023 2024 2025 Maharah 0.9% 0.8% 0.8% 1.7% 0.4% Al Mawarid 0.3% 0.4% 0.4% 0.2% 0.1% SMASCO 0.4% 0.9% 0.9% 0.8% 1.5% Tamkeen 2.6% 1.8% 2.9% 2.3% 0.6% Industry 0.7% 0.9% 0.8% 1.0% 0.5%
Tangibility# Company 2021 2022 2023 2024 2025 Maharah 15.0% 10.0% 35.5% 10.2% 8.9% Al Mawarid 8.4% 7.4% 9.3% 8.6% 7.0% SMASCO 19.4% 17.1% 16.0% 19.8% 19.5% Tamkeen 14.2% 12.1% 12.7% 11.9% 10.6% Industry 11.8% 8.8% 8.1% 8.5% 7.7%
Capex-to-CF Ratio# Company 2021 2022 2023 2024 2025 Maharah 0.42 0.07 0.07 0.55 -0.48 Al Mawarid -0.04 0.08 0.05 0.04 0.01 SMASCO 0.05 0.09 0.08 0.11 0.18 Tamkeen 0.15 0.14 0.27 0.47 0.03 Industry 0.15 0.09 0.09 0.23 0.11
CF-to-CapEx Ratio# Company 2021 2022 2023 2024 2025 Maharah 2.39 14.12 13.56 1.83 -2.07 Al Mawarid -24.10 12.36 20.42 28.09 84.17 SMASCO 18.51 11.23 12.19 8.90 5.70 Tamkeen 6.47 6.93 3.74 2.14 37.68 Industry 6.75 11.46 11.33 4.40 8.81
Price Multiples P/E Ratio# Company 2021 2022 2023 2024 2025 Maharah 12.38 10.88 29.78 12.58 8.41 Al Mawarid 0.00 0.00 15.82 12.43 10.57 SMASCO 0.00 0.00 0.00 24.24 14.02 Tamkeen 0.00 0.00 0.00 19.75 14.84 Industry 9.36 6.73 215.78 287.67 219.32
P/S Ratio# Company 2021 2022 2023 2024 2025 Maharah 1.35 0.72 1.50 0.98 0.74 Al Mawarid 0.00 0.00 1.11 0.58 0.56 SMASCO 0.00 0.00 0.00 1.62 1.01 Tamkeen 0.00 0.00 0.00 2.35 1.41 Industry 0.93 0.53 16.15 20.18 16.35
P/CF Ratio# Company 2021 2022 2023 2024 2025 Maharah 63.79 6.23 14.07 30.88 -116.54 Al Mawarid 0.00 0.00 16.36 14.98 10.62 SMASCO 0.00 0.00 0.00 25.55 11.97 Tamkeen 0.00 0.00 0.00 65.97 14.39 Industry 19.60 5.33 171.23 469.02 366.38
P/B Ratio# Company 2021 2022 2023 2024 2025 Maharah 3.12 2.16 5.00 3.26 2.62 Al Mawarid 0.00 0.00 4.08 2.98 2.89 SMASCO 0.00 0.00 0.00 5.10 3.31 Tamkeen 0.00 0.00 0.00 4.83 4.03 Industry 2.56 1.59 50.99 68.61 60.77
Dividends Dividends per Share# Company 2021 2022 2023 2024 2025 Maharah 0.375 0.325 0.183 0.145 0.150 Al Mawarid 2.000 1.333 2.500 2.250 2.600 SMASCO 0.657 0.272 0.425 0.120 0.250 Tamkeen 0.000 0.000 0.000 1.321 3.480 Industry 0.532 0.313 0.328 0.204 0.335
Dividends Payout Ratio# Company 2021 2022 2023 2024 2025 Maharah 97.8% 109.8% 86.8% 37.4% 24.7% Al Mawarid 35.9% 26.3% 42.2% 35.4% 28.2% SMASCO 174.6% 77.1% 102.2% 38.0% 66.4% Tamkeen 0.0% 0.0% 0.0% 40.7% 95.6% Industry 104.9% 65.5% 70.8% 37.7% 45.4%
Dividends Coverage Ratio# Company 2021 2022 2023 2024 2025 Maharah 1.023 0.911 1.152 2.676 4.041 Al Mawarid 2.783 3.799 2.367 2.827 3.550 SMASCO 0.573 1.298 0.978 2.634 1.506 Tamkeen 0.000 0.000 0.000 2.458 1.046 Industry 0.953 1.528 1.413 2.651 2.204
Dividends Yield# Company 2021 2022 2023 2024 2025 Maharah 7.9% 10.1% 2.9% 3.0% 2.9% Al Mawarid 0.0% 0.0% 2.7% 2.8% 2.7% SMASCO 0.0% 0.0% 0.0% 1.6% 4.7% Tamkeen 0.0% 0.0% 0.0% 2.1% 6.4% Industry 11.2% 9.7% 0.3% 0.1% 0.2%
Liquidity Current Ratio# Company 2021 2022 2023 2024 2025 Maharah 1.78 1.43 1.27 1.70 1.97 Al Mawarid 2.43 2.39 2.45 2.04 2.00 SMASCO 2.21 2.44 2.32 2.72 2.47 Tamkeen 2.88 2.85 3.04 3.27 3.09 Industry 2.13 2.03 1.96 2.21 2.20
Quick Ratio# Company 2021 2022 2023 2024 2025 Maharah 1.78 1.43 1.27 1.70 1.97 Al Mawarid 2.43 2.39 2.45 2.04 2.00 SMASCO 2.21 2.44 2.32 2.72 2.47 Tamkeen 2.88 2.85 3.04 3.27 3.09 Industry 2.13 2.03 1.96 2.21 2.20
Cash ratio# Company 2021 2022 2023 2024 2025 Maharah 0.24 0.18 0.15 0.07 0.13 Al Mawarid 0.20 0.32 0.40 0.31 0.36 SMASCO 0.31 0.36 0.11 0.13 0.16 Tamkeen 1.08 1.72 1.75 1.46 1.30 Industry 0.33 0.41 0.35 0.30 0.31
Operating Cash Flow Ratio# Company 2021 2022 2023 2024 2025 Maharah 0.07 0.41 0.39 0.14 -0.03 Al Mawarid -0.14 0.23 0.42 0.23 0.31 SMASCO 0.35 0.60 0.58 0.39 0.47 Tamkeen 0.74 0.51 0.34 0.18 0.61 Industry 0.20 0.45 0.44 0.23 0.24
Solvency & Capital Structure Debt ratio# Company 2021 2022 2023 2024 2025 Maharah 1.3% 34.8% 33.9% 32.7% 16.2% Al Mawarid 4.8% 4.1% 6.3% 6.4% 5.5% SMASCO 3.7% 2.6% 2.5% 4.1% 4.1% Tamkeen 3.0% 2.4% 2.8% 2.8% 2.6% Industry 2.9% 18.1% 17.4% 16.8% 9.1%
Debt-to-equity ratio# Company 2021 2022 2023 2024 2025 Maharah 0.02 1.06 1.05 0.93 0.36 Al Mawarid 0.08 0.07 0.12 0.14 0.12 SMASCO 0.08 0.05 0.05 0.08 0.08 Tamkeen 0.05 0.04 0.04 0.04 0.04 Industry 0.05 0.40 0.39 0.37 0.19
Interest coverage ratio# Company 2021 2022 2023 2024 2025 Maharah 139.61 13.06 2.92 3.91 5.22 Al Mawarid 71.96 97.17 51.95 22.32 21.27 SMASCO 79.61 76.15 44.49 26.72 29.16 Tamkeen 87.86 82.31 59.33 61.97 63.12 Industry 92.64 32.66 9.91 9.36 11.88
Fixed Charge Coverage Ratio# Company 2021 2022 2023 2024 2025 Maharah -12.18 -26.17 4.70 6.17 9.59 Al Mawarid -6.40 -6.67 -6.78 -8.61 -9.60 SMASCO -15.12 -13.09 -18.48 -10.10 -12.14 Tamkeen -15.62 -20.83 -14.55 -14.36 -17.93 Industry -11.90 -13.10 -70.36 -77.49 -40.90
Efficiency Fixed Assets Turnover# Company 2021 2022 2023 2024 2025 Maharah 10.52 13.41 14.88 14.69 21.39 Al Mawarid 57.04 71.08 82.28 130.17 183.35 SMASCO 11.30 12.99 13.77 11.32 11.50 Tamkeen 10.56 11.83 12.89 17.82 28.65 Industry 12.57 15.46 17.46 18.32 23.41
Total Assets Turnover# Company 2021 2022 2023 2024 2025 Maharah 1.27 0.99 1.08 1.17 1.59 Al Mawarid 1.64 1.87 1.97 2.36 2.34 SMASCO 1.73 1.82 1.80 1.73 1.71 Tamkeen 1.18 1.14 1.10 1.30 1.71 Industry 1.48 1.36 1.42 1.55 1.81
Goodwill to Assets Ratio# Company 2021 2022 2023 2024 2025 Maharah 0.4% 0.3% 0.2% 0.2% 0.2% Al Mawarid 0.0% 0.0% 0.0% 0.0% 0.0% SMASCO 0.0% 0.0% 0.0% 0.0% 0.0% Tamkeen 0.0% 0.0% 0.0% 0.0% 0.0% Industry 0.2% 0.1% 0.1% 0.1% 0.1%
Profit Margins Gross Profits# Company 2021 2022 2023 2024 2025 Maharah 17.9% 15.0% 13.8% 12.6% 11.3% Al Mawarid 16.6% 15.2% 13.0% 10.1% 10.1% SMASCO 17.2% 13.5% 14.9% 13.0% 15.7% Tamkeen 27.9% 25.9% 22.9% 20.1% 18.9% Industry 18.3% 15.4% 14.8% 12.8% 12.9%
EBITDA# Company 2021 2022 2023 2024 2025 Maharah 12.8% 8.2% 6.8% 8.4% 7.5% Al Mawarid 11.6% 10.7% 9.6% 6.5% 7.1% SMASCO 11.1% 9.6% 11.0% 9.2% 10.2% Tamkeen 19.2% 15.1% 13.2% 11.6% 10.7% Industry 12.4% 9.8% 9.4% 8.4% 8.4%
EBIT# Company 2021 2022 2023 2024 2025 Maharah 11.1% 6.4% 5.0% 6.9% 6.4% Al Mawarid 9.6% 9.0% 8.0% 5.4% 6.0% SMASCO 8.9% 7.7% 9.1% 7.0% 8.3% Tamkeen 16.1% 13.0% 11.1% 9.8% 9.3% Industry 10.3% 8.0% 7.6% 6.8% 7.1%
NOPAT# Company 2021 2022 2023 2024 2025 Maharah 11.2% 6.5% 5.2% 7.1% 6.5% Al Mawarid 9.8% 9.2% 8.3% 5.6% 6.2% SMASCO 8.9% 7.8% 9.3% 7.3% 8.6% Tamkeen 16.3% 13.2% 11.2% 10.0% 9.4% Industry 10.5% 8.1% 7.8% 7.0% 7.3%
EBT# Company 2021 2022 2023 2024 2025 Maharah 12.1% 7.5% 5.6% 8.3% 9.2% Al Mawarid 9.4% 8.9% 7.8% 5.2% 5.7% SMASCO 9.2% 8.3% 10.0% 7.5% 7.9% Tamkeen 16.2% 14.2% 13.7% 13.1% 10.4% Industry 10.8% 8.6% 8.3% 7.7% 8.0%
Net Profits# Company 2021 2022 2023 2024 2025 Maharah 10.9% 6.6% 5.0% 7.8% 8.8% Al Mawarid 8.4% 8.0% 7.0% 4.7% 5.3% SMASCO 8.8% 7.7% 9.1% 6.7% 7.2% Tamkeen 14.9% 12.8% 12.0% 11.9% 9.5% Industry 9.9% 7.8% 7.5% 7.0% 7.5%
Returns ROIC# Company 2021 2022 2023 2024 2025 Maharah 22.3% 8.9% 7.8% 11.0% 14.8% Al Mawarid 23.2% 25.5% 23.0% 21.1% 23.1% SMASCO 23.3% 20.6% 24.2% 17.1% 21.0% Tamkeen 26.2% 20.8% 16.9% 17.3% 21.8% Industry 23.3% 15.6% 15.6% 15.0% 19.0%
Weighted Average Cost of Capital (WACC)# Company 2021 2022 2023 2024 2025 Maharah 5.8% 6.7% 9.5% 11.0% 11.5% Al Mawarid 9.2% 12.3% 12.0% 11.2% 11.6% SMASCO 10.1% 13.9% 13.5% 13.2% 11.7% Tamkeen 8.6% 8.7% 8.9% 11.3% 11.1% Industry 5.8% 7.5% 12.0% 11.6% 11.3%
Return on Assets# Company 2021 2022 2023 2024 2025 Maharah 13.9% 6.5% 5.4% 9.1% 14.0% Al Mawarid 13.7% 15.1% 13.8% 11.1% 12.4% SMASCO 15.2% 14.0% 16.4% 11.5% 12.3% Tamkeen 17.6% 14.6% 13.2% 15.5% 16.2% Industry 14.7% 10.6% 10.6% 10.9% 13.5%
Return on Equity# Company 2021 2022 2023 2024 2025 Maharah 25.2% 19.9% 16.8% 25.9% 31.1% Al Mawarid 23.9% 25.9% 25.8% 24.0% 27.4% SMASCO 31.0% 26.7% 31.9% 21.1% 23.6% Tamkeen 28.9% 22.8% 19.8% 24.5% 27.2% Industry 27.4% 23.6% 23.6% 23.9% 27.7%
Valuation Multiples EV/Revenues# Company 2021 2022 2023 2024 2025 Maharah 1.29 1.02 1.77 1.25 0.81 Al Mawarid -0.01 -0.04 1.08 0.56 0.52 SMASCO -0.04 -0.05 -0.01 1.62 1.00 Tamkeen -0.23 -0.41 -0.41 2.09 1.22 Industry 0.87 0.57 16.65 20.80 16.80
EV/EBITDA# Company 2021 2022 2023 2024 2025 Maharah 10.08 12.46 25.90 14.85 10.84 Al Mawarid -0.09 -0.34 11.30 8.56 7.33 SMASCO -0.37 -0.51 -0.05 17.62 9.86 Tamkeen -1.18 -2.71 -3.11 18.01 11.35 Industry 7.02 5.81 176.48 247.28 200.16
EV/Book Value# Company 2021 2022 2023 2024 2025 Maharah 2.99 3.08 5.90 4.15 2.88 Al Mawarid -0.03 -0.12 3.96 2.86 2.70 SMASCO -0.15 -0.17 -0.02 5.11 3.29 Tamkeen -0.44 -0.73 -0.68 4.28 3.48 Industry 2.40 1.72 52.58 70.71 62.44