Recent Research

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  FIRST LOOK NOTES

  29 Jul 2026

  SABIC Agri-Nutrients Co

  ACCUMULATE

  Last Closing Price

  SAR 122.30

  Target Price

  SAR 138.00

  Upside (%)

  +12.84%

  Saudi Equity Research - SABIC Agri-Nutrients Co 2Q26 - First Look Note

  Gross Margin contracted to 29.5% in 2Q26 from 38.5% in 2Q25 driven by elevated feedstock costs. Sales volumes were adversely impacted on YOY and QOQ basis with ongoing supply chain disruptions continued to affect the Company's ability to procure critical raw materials.

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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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