Recent Research

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  FIRST LOOK NOTES

  05 Mar 2026

  SABIC Agri-Nutrients Co

  HOLD

  Last Closing Price

  SAR 129.80

  Target Price

  SAR 138.00

  Upside (%)

  +6.32%

  Saudi Equity Research - SABIC Agri-Nutrients Co 4Q25 - First Look Note

  Average selling prices increased 16% YOY, while the sale volumes increased 2% YOY in 2025. Capex increased 16.7% YOY and 89.7% QOQ to SAR 349 Mn in 4Q25.

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  FIRST LOOK NOTES

  28 Oct 2025

  SABIC Agri-Nutrients Co

  HOLD

  Last Closing Price

  SAR 124.80

  Target Price

  SAR 130.00

  Upside (%)

  +4.17%

  Saudi Equity Research - SABIC Agri-Nutrients Co 3Q25 - First Look Note

  Revenue grew 23.6% YOY to SAR 3.5 Bn in 3Q25, driven by an increase in average selling prices. Average selling price increased 26% on a YOY basis and 14% QOQ basis in 3Q25, however, sales volumes declined by 2% on a YOY basis and 6% QOQ basis during 3Q25.

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• 

  FIRST LOOK NOTES

  29 Jul 2025

  SABIC Agri-Nutrients Co

  ACCUMULATE

  Last Closing Price

  SAR 116.90

  Target Price

  SAR 130.00

  Upside (%)

  +11.21%

  SABIC Agri-Nutrients Co- 2Q25 First Look Note

  Revenue grew 22.8% YOY to SAR 3,287 Mn in 2Q25, driven by an increase in average selling prices. Sales volume remained flat on YOY basis but rose 5.6% QOQ to 1,938 thousand MT in 2Q25.

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  FIRST LOOK NOTES

  30 Apr 2025

  SABIC Agri-Nutrients Co

  BUY

  Last Closing Price

  SAR 98.70

  Target Price

  SAR 130.00

  Upside (%)

  +31.71%

  Saudi Equity Research - SABIC Agri-Nutrients Co 1Q25 - First Look Note

  Revenue grew 22.1% YOY to SAR 3,074 Mn in 1Q25, driven by increased sales volumes and average selling price. Sales volume increased 18% YOY to 1,836 thousand MT in 1Q25 due to the completion of the scheduled turnaround of the Company's third plant for urea and ammonia production in 1Q24.

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• 

  FIRST LOOK NOTES

  10 Mar 2025

  SABIC Agri-Nutrients Co

  BUY

  Last Closing Price

  SAR 109.80

  Target Price

  SAR 130.00

  Upside (%)

  +18.40%

  Saudi Equity Research - SABIC Agri-Nutrients Co 4Q24 - First Look Note

  SABIC AGRI-NUTRIENTS revenue increased 1.5% YOY to SAR 3,017 Mn in 4Q24, driven by growth in sales of agri-nutrients segment partially offset by a decline in sales of the petchem segment. The Company’s EBITDA margin grew 51 bps QOQ to 36.1%, while the net margin expanded 264 bps QOQ to 31.6% in 4Q24.

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• 

  FIRST LOOK NOTES

  15 Nov 2024

  SABIC Agri-Nutrients Co

  ACCUMULATE

  Last Closing Price

  SAR 113.80

  Target Price

  SAR 130.00

  Upside (%)

  +14.24%

  Saudi Equity Research - SABIC Agri-Nutrients Co 3Q24 - First Look Note

  SABIC AGRI-NUTRIENTS revenue increased 6.7% YOY to SAR 2,850 Mn in 3Q24, driven by a 5% growth in sales volume and a 2% growth in average selling price. The Company’s gross margins grew 393 bps QOQ to 37.6%, while the EBITDA margin grew 115 bps QOQ to 35.5% in 3Q24.

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