PERFECT PRESENTATION FOR COMMERCIAL SERVICES COMPANY

Cash flow Perfect Presentation for Commercial Services Company

Stocks

7204

SA15LISJGI11

IT Services & Consulting

Market Closed - Saudi Arabian S.E. 07:04:32 05/10/2026 pm IST			5-day change	1st Jan Change
5.280 ^SAR	+0.38%		-7.04%	-31.25%

10:10am	Saudi Arabia's 2P Secures SAR120 Million Loan from National Bank of Kuwait	MT
21/09	Saudi Equities Extend Losing Streak Amid Continued Middle Eastern Conflict Jitters	MT

3.QMEChVcoVN8cY0iLGd27RMeY4lzT4P7pHbVcfLoVu9U.dPZlwXpOM-1WJBz-NOTeLOrQpivjpJeQSOMxFvtX8LQml0Sxeh0cmHMwfA

Published financial data: PERFECT PRESENTATION FOR COMMERCIAL SERVICES COMPANY

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (SAR)	2022 (SAR)	2023 (SAR)	2024 (SAR)	2025 (SAR)
Revenues	66Cr	93Cr	112.97Cr	107.1Cr	123.74Cr
Total Revenues	66Cr	93Cr	112.97Cr	107.1Cr	123.74Cr
Cost of Goods Sold, Total	54Cr	75Cr	92Cr	82Cr	96Cr
Gross Profit	12Cr	18Cr	21Cr	25Cr	28Cr
Selling General & Admin Expenses, Total	2.79Cr	3.82Cr	3.38Cr	5.24Cr	6.19Cr
Provision for Bad Debts	15.04L	44.05L	1.26Cr	3.08Cr	3.35Cr
Other Operating Expenses	-	-	-87.07L	-1.2Cr	-36.31L
Other Operating Expenses, Total	2.95Cr	4.26Cr	3.77Cr	7.11Cr	9.18Cr
Operating Income	8.6Cr	14Cr	17Cr	18Cr	19Cr
Interest Expense, Total	-	-	-	-	-4.75Cr
Interest And Investment Income	39.07T	30.24T	-	-	-
Net Interest Expenses	39.07T	30.24T	-	-	-4.75Cr
Income (Loss) On Equity Invest.	-	-	-	-	-
Other Non Operating Income (Expenses)	-14.56L	-12.97L	-3.74Cr	-4.05Cr	-
EBT, Excl. Unusual Items	8.45Cr	14Cr	14Cr	14Cr	14Cr
Gain (Loss) On Sale Of Assets	-3L	-	-	3.18Cr	-
EBT, Incl. Unusual Items	8.42Cr	14Cr	14Cr	17Cr	14Cr
Income Tax Expense	36.13L	48.82L	60.2L	77.06L	77.13L
Earnings From Continuing Operations	8.06Cr	13Cr	13Cr	16Cr	13Cr
Net Income to Company	8.06Cr	13Cr	13Cr	16Cr	13Cr
Net Income - (IS)	8.06Cr	13Cr	13Cr	16Cr	13Cr
Net Income to Common Incl Extra Items	8.06Cr	13Cr	13Cr	16Cr	13Cr
Net Income to Common Excl. Extra Items	8.06Cr	13Cr	13Cr	16Cr	13Cr
Per Share Items
Net EPS - Basic	2.02	0.44	0.43	0.54	0.45
Basic EPS - Continuing Operations	2.02	0.44	0.43	0.54	0.45
Basic Weighted Average Shares Outstanding	4Cr	30Cr	30Cr	30Cr	30Cr
Net EPS - Diluted	2.02	0.44	0.43	0.54	0.45
Diluted EPS - Continuing Operations	2.02	0.44	0.43	0.54	0.45
Diluted Weighted Average Shares Outstanding	4Cr	30Cr	30Cr	30Cr	30Cr
Normalized Basic EPS	1.32	0.28	0.28	0.29	0.3
Normalized Diluted EPS	1.32	0.28	0.28	0.29	0.3
Dividend Per Share	0.06	0.04	-	-	-
Payout Ratio	40.16	19.78	8.12	-	-
Supplemental Items
EBITDA	8.89Cr	14Cr	18Cr	19Cr	20Cr
EBITA	8.6Cr	14Cr	17Cr	18Cr	19Cr
EBIT	8.6Cr	14Cr	17Cr	18Cr	19Cr
Effective Tax Rate - (Ratio)	4.29	3.58	4.45	4.51	5.44
Normalized Net Income	5.28Cr	8.52Cr	8.46Cr	8.71Cr	8.87Cr
Interest on Long-Term Debt	-	-	-	-	98.59T
Non-Cash Pension Expense	3L	5L	10L	-	18.77L
Supplemental Operating Expense Items
Selling and Marketing Expenses	78.04L	90.4L	69.29L	74.42L	1.3Cr
General and Administrative Expenses	1.99Cr	2.87Cr	2.59Cr	4.35Cr	4.7Cr
Maintenance & Repair Expenses, Total	29.52L	19.07L	27.08L	12.71L	10.42L

Fiscal Period: December	2021 (SAR)	2022 (SAR)	2023 (SAR)	2024 (SAR)	2025 (SAR)
Assets
Cash And Equivalents	6.95Cr	6.72Cr	5.15Cr	10Cr	8.68Cr
Total Cash And Short Term Investments	6.95Cr	6.72Cr	5.15Cr	10Cr	8.68Cr
Accounts Receivable, Total	29Cr	59Cr	92Cr	111.5Cr	152.88Cr
Other Receivables	24.03L	31.42L	1.15Cr	63.17L	93.34L
Total Receivables	29Cr	59Cr	93Cr	112.13Cr	153.82Cr
Inventory	9L	3L	39.04L	40.6L	87.91L
Prepaid Expenses	74.73L	38.09L	27.24L	2.28Cr	3.73Cr
Other Current Assets, Total	1.3Cr	1.19Cr	1.2Cr	2.12Cr	1.23Cr
Total Current Assets	38Cr	67Cr	100.33Cr	126.98Cr	168.34Cr
Gross Property Plant And Equipment	13Cr	15Cr	17Cr	14Cr	23Cr
Accumulated Depreciation	-1.72Cr	-2.13Cr	-2.54Cr	-1.35Cr	-1.92Cr
Net Property Plant And Equipment	12Cr	13Cr	15Cr	13Cr	21Cr
Long-term Investments	15.02L	20.52L	-	-	-
Other Intangibles, Total	-	12.01L	2.65Cr	3.42Cr	3.54Cr
Total Assets	50Cr	81Cr	117.84Cr	143.46Cr	193.31Cr
Liabilities
Accounts Payable, Total	7.34Cr	17Cr	19Cr	19Cr	20Cr
Accrued Expenses, Total	7.11Cr	9.24Cr	14Cr	15Cr	19Cr
Short-term Borrowings	8.4Cr	15Cr	33Cr	44Cr	68Cr
Current Portion of Long-Term Debt	26.97L	21.8L	27.83L	23.23L	-
Current Portion of Leases	-	-	-	-	10L
Current Income Taxes Payable	34.73L	52.65L	68.95L	77.18L	76.14L
Unearned Revenue Current, Total	5.83Cr	7.07Cr	6.13Cr	4.43Cr	4.76Cr
Other Current Liabilities	2.04Cr	3.32Cr	3.04Cr	1.79Cr	25.99L
Total Current Liabilities	31Cr	52Cr	76Cr	85Cr	111.98Cr
Long-Term Debt	72.56L	53.65L	25.82L	-	8.3Cr
Long-Term Leases	-	-	-	-	14.21L
Pension & Other Post Retirement Benefits	2.09Cr	2.64Cr	3.41Cr	4.11Cr	5.74Cr
Total Liabilities	34Cr	55Cr	80Cr	89Cr	126.16Cr
Common Stock, Total	2Cr	15Cr	15Cr	30Cr	33Cr
Additional Paid In Capital	66.7L	-	-	-	-
Retained Earnings	13Cr	10Cr	23Cr	25Cr	34Cr
Comprehensive Income and Other	-	-	-	-	-
Total Common Equity	16Cr	25Cr	38Cr	55Cr	67Cr
Total Equity	16Cr	25Cr	38Cr	55Cr	67Cr
Total Liabilities And Equity	50Cr	81Cr	117.84Cr	143.46Cr	193.31Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4Cr	30Cr	30Cr	30Cr	33Cr
ECS Total Common Shares Outstanding	4Cr	30Cr	30Cr	30Cr	33Cr
Book Value / Share	3.99	0.85	1.27	1.82	2.04
Tangible Book Value	16Cr	25Cr	36Cr	51Cr	64Cr
Tangible Book Value Per Share	3.99	0.84	1.19	1.7	1.93
Total Debt	9.4Cr	16Cr	34Cr	44Cr	76Cr
Net Debt	2.45Cr	9.23Cr	29Cr	34Cr	67Cr
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.09Cr	2.64Cr	3.41Cr	-	5.74Cr
Account Code - Inventory Valuation	6	3	3	6	6
Inventories - Finished Goods, Total	48.49T	1L	33.86L	39.71L	85.08L
Inventories - Others	8L	2L	5L	89.76T	3L
Land - (BS)	5.21Cr	5.21Cr	5.21Cr	4.5Cr	8.45Cr
Buildings, Total	6.34Cr	6.35Cr	9.22Cr	7.31Cr	7.33Cr
Machinery, Total	1.65Cr	1.91Cr	2.62Cr	2.01Cr	2.61Cr
Full Time Employees	3.94T	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	21.52L	50.68L	1.41Cr	3.37Cr	6.17Cr

Fiscal Period: December	2021 (SAR)	2022 (SAR)	2023 (SAR)	2024 (SAR)	2025 (SAR)
Net Income	8.06Cr	13Cr	13Cr	16Cr	13Cr
Depreciation & Amortization - CF	28.91L	41.43L	40.68L	53.43L	62.5L
Depreciation & Amortization, Total	28.91L	41.43L	40.68L	53.43L	62.5L
Amortization of Deferred Charges, Total - (CF)	-	2L	6L	19.6L	60.56L
(Gain) Loss From Sale Of Asset	3L	-	12.86T	-3.18Cr	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	-	-	-	-	-
Provision and Write-off of Bad Debts	15.04L	44.05L	1.26Cr	2.8Cr	3.14Cr
Other Operating Activities, Total	87L	56.74L	80.33L	5.08Cr	5.81Cr
Change In Accounts Receivable	-11Cr	-30Cr	-35Cr	-18Cr	-46Cr
Change In Inventories	45.22L	6L	-36.09L	-2L	11.36L
Change In Accounts Payable	4Cr	7.7Cr	2.79Cr	1.29Cr	78.46L
Change in Unearned Revenues	2.89Cr	1.24Cr	-93.5L	-1.7Cr	33.07L
Change in Other Net Operating Assets	3.78Cr	4.33Cr	6.28Cr	-10Cr	2.91Cr
Cash from Operations	9.69Cr	-2.18Cr	-11Cr	-6.36Cr	-18Cr
Capital Expenditure	-2.18Cr	-1.86Cr	-2.15Cr	-95.05L	-9.27Cr
Sale of Property, Plant, and Equipment	-	-	-	5.39Cr	-
Cash Acquisitions	-	-	-	-	-
Divestitures	19.09T	-	-	-	-
Sale (Purchase) of Intangible assets	-	-13.95L	-2.59Cr	-96.5L	-72.43L
Investment in Marketable and Equity Securities, Total	-	-	2.41T	-	-
Other Investing Activities, Total	-	-	24.08L	-	-
Cash from Investing	-2.18Cr	-2Cr	-4.5Cr	3.47Cr	-10Cr
Short Term Debt Issued, Total	-	-	15Cr	77Cr	24Cr
Long-Term Debt Issued, Total	1.61Cr	6.56Cr	-	-	8.3Cr
Total Debt Issued	1.61Cr	6.56Cr	15Cr	77Cr	32Cr
Short Term Debt Repaid, Total	-	-	-	-64Cr	-
Long-Term Debt Repaid, Total	-	-	-21.8L	-30.42L	-31.45L
Total Debt Repaid	-	-	-21.8L	-65Cr	-31.45L
Common Dividends Paid	-3.24Cr	-2.6Cr	-1.05Cr	-	-
Common & Preferred Stock Dividends Paid	-3.24Cr	-2.6Cr	-1.05Cr	-	-
Other Financing Activities, Total	-	-	21.8L	-4.05Cr	-4.53Cr
Cash from Financing	-1.62Cr	3.96Cr	14Cr	7.78Cr	27Cr
Net Change in Cash	5.89Cr	-22.47L	-1.57Cr	4.89Cr	-1.36Cr
Supplemental Items
Cash Interest Paid	-	-	-	-	4.53Cr
Levered Free Cash Flow	4.1Cr	-8.07Cr	-22Cr	-13Cr	-39Cr
Unlevered Free Cash Flow	4.1Cr	-8.07Cr	-22Cr	-13Cr	-36Cr
Change In Net Working Capital	-61.51L	15Cr	29Cr	23Cr	39Cr
Net Debt Issued / Repaid	1.61Cr	6.56Cr	15Cr	12Cr	32Cr

Fiscal Period: December	2021 (SAR)	2022 (SAR)	2023 (SAR)	2024 (SAR)	2025 (SAR)
Profitability
Return on Assets	13.14	13.14	10.87	8.6	7.03
Return on Total Capital	24.27	25.79	19.05	13.16	9.78
Return On Equity %	59.53	63.61	40.68	35.24	22.06
Return on Common Equity	59.53	63.61	40.68	35.24	22.06
Margin Analysis
Gross Profit Margin %	17.61	19.43	18.63	23.43	22.73
SG&A Margin	4.26	4.12	2.99	4.89	5
EBITDA Margin %	13.56	15.29	15.65	17.28	15.76
EBITA Margin %	13.11	14.84	15.29	16.79	15.31
EBIT Margin %	13.11	14.84	15.29	16.79	15.31
Income From Continuing Operations Margin %	12.3	14.18	11.45	15.25	10.85
Net Income Margin %	12.3	14.18	11.45	15.25	10.85
Net Avail. For Common Margin %	12.3	14.18	11.45	15.25	10.85
Normalized Net Income Margin	8.06	9.19	7.49	8.13	7.17
Levered Free Cash Flow Margin	6.25	-8.7	-19.9	-12.54	-31.48
Unlevered Free Cash Flow Margin	6.25	-8.7	-19.9	-12.54	-29.08
Asset Turnover
Asset Turnover	1.6	1.42	1.14	0.82	0.73
Fixed Assets Turnover	6.11	7.48	8.08	7.67	7.17
Receivables Turnover (Average Receivables)	2.77	2.12	1.5	1.05	0.94
Inventory Turnover (Average Inventory)	171.31	1.26T	437.86	205.94	148.8
Short Term Liquidity
Current Ratio	1.22	1.29	1.32	1.5	1.5
Quick Ratio	1.15	1.26	1.3	1.44	1.45
Operating Cash Flow to Current Liabilities	0.31	-0.04	-0.15	-0.07	-0.16
Days Sales Outstanding (Average Receivables)	131.69	172.51	244	347.98	389.94
Days Outstanding Inventory (Average Inventory)	2.13	0.29	0.83	1.78	2.45
Average Days Payable Outstanding	39.34	58.55	70.27	89.63	73.37
Cash Conversion Cycle (Average Days)	94.48	114.24	174.56	260.12	319.03
Long Term Solvency
Total Debt/Equity	58.85	62.92	88.61	81.1	113.32
Total Debt / Total Capital	37.05	38.62	46.98	44.78	53.12
LT Debt/Equity	4.54	2.12	0.68	-	12.57
Long-Term Debt / Total Capital	2.86	1.3	0.36	-	5.89
Total Liabilities / Total Assets	68.14	68.58	67.58	62.01	65.26
EBIT / Interest Expense	-	-	-	-	3.99
EBITDA / Interest Expense	-	-	-	-	4.12
(EBITDA - Capex) / Interest Expense	-	-	-	-	2.17
Total Debt / EBITDA	1.06	1.13	1.91	2.39	3.89
Net Debt / EBITDA	0.28	0.65	1.62	1.84	3.45
Total Debt / (EBITDA - Capex)	1.4	1.3	2.18	2.52	7.39
Net Debt / (EBITDA - Capex)	0.37	0.75	1.85	1.94	6.55
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	35.86	41.45	21.84	-5.19	15.53
Gross Profit, 1 Yr. Growth %	27.15	56.1	5.53	19.26	12.07
EBITDA, 1 Yr. Growth %	35.96	59.53	7.15	4.7	7.69
EBITA, 1 Yr. Growth %	36.58	60.08	7.38	4.08	7.75
EBIT, 1 Yr. Growth %	36.58	60.08	7.38	4.08	7.75
Earnings From Cont. Operations, 1 Yr. Growth %	25.24	63.06	-1.64	26.33	-17.84
Net Income, 1 Yr. Growth %	25.24	63.06	-1.64	26.33	-17.84
Normalized Net Income, 1 Yr. Growth %	27.82	61.3	-0.75	2.94	4.89
Diluted EPS Before Extra, 1 Yr. Growth %	25.24	63.06	-1.64	26.33	-17.84
Accounts Receivable, 1 Yr. Growth %	58.38	102.29	56.54	20.98	37.12
Inventory, 1 Yr. Growth %	-83.53	-66.95	1.22T	4	116.51
Net Property, Plant and Equip., 1 Yr. Growth %	18.98	12.38	13.28	-12.07	64.11
Total Assets, 1 Yr. Growth %	58.34	61	45.98	21.74	34.75
Tangible Book Value, 1 Yr. Growth %	43.74	58.03	40.85	43.68	24.54
Common Equity, 1 Yr. Growth %	43.74	58.78	50.64	42.66	23.22
Cash From Operations, 1 Yr. Growth %	96.77	-122.53	421.15	-16.72	188.87
Capital Expenditures, 1 Yr. Growth %	-40.62	-14.72	15.64	-55.79	875.65
Levered Free Cash Flow, 1 Yr. Growth %	-419.84	-296.89	240.07	-40.27	140.27
Unlevered Free Cash Flow, 1 Yr. Growth %	-419.84	-296.89	240.07	-40.27	163.03
Dividend Per Share, 1 Yr. Growth %	-99.99	-38.05	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	46.32	38.63	31.28	7.48	4.66
Gross Profit, 2 Yr. CAGR %	44.44	40.88	35.02	12.18	15.61
EBITDA, 2 Yr. CAGR %	69.6	47.27	41.07	5.92	5.03
EBITA, 2 Yr. CAGR %	73.24	47.86	41.76	5.71	4.71
EBIT, 2 Yr. CAGR %	73.24	47.86	41.76	5.71	4.71
Earnings From Cont. Operations, 2 Yr. CAGR %	73.11	42.9	26.64	11.47	1.88
Net Income, 2 Yr. CAGR %	73.11	42.9	26.64	11.47	1.88
Normalized Net Income, 2 Yr. CAGR %	72.65	43.57	26.53	1.08	2.41
Diluted EPS Before Extra, 2 Yr. CAGR %	73.11	-47.82	26.64	11.47	1.88
Accounts Receivable, 2 Yr. CAGR %	59.2	78.99	78.29	37.62	28.8
Inventory, 2 Yr. CAGR %	-9.22	-76.67	109.24	271.16	50.06
Net Property, Plant and Equip., 2 Yr. CAGR %	35.16	15.64	12.83	-0.2	20.12
Total Assets, 2 Yr. CAGR %	56.28	59.67	53.31	33.31	28.08
Tangible Book Value, 2 Yr. CAGR %	46.48	50.71	49.19	42.26	33.77
Common Equity, 2 Yr. CAGR %	46.48	51.07	54.66	46.6	32.59
Cash From Operations, 2 Yr. CAGR %	285.02	-33.42	8.35	70.66	55.1
Capital Expenditures, 2 Yr. CAGR %	-30.75	-28.84	-0.69	-28.5	107.68
Levered Free Cash Flow, 2 Yr. CAGR %	-12.54	150.95	134.27	42.52	31.62
Unlevered Free Cash Flow, 2 Yr. CAGR %	-11.44	150.95	134.27	42.52	26.5
Dividend Per Share, 2 Yr. CAGR %	-99.29	-99.34	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	53.78	44.68	32.79	17.78	10.1
Gross Profit, 3 Yr. CAGR %	59.43	48.23	32.34	29.55	12.15
EBITDA, 3 Yr. CAGR %	73.65	66.18	39.34	27.72	5.73
EBITA, 3 Yr. CAGR %	81.97	68.74	40.01	27.88	5.59
EBIT, 3 Yr. CAGR %	81.97	68.74	40.01	27.88	5.59
Earnings From Cont. Operations, 3 Yr. CAGR %	66.34	69.69	26.17	26.54	0.69
Net Income, 3 Yr. CAGR %	66.34	69.69	26.17	26.54	0.69
Normalized Net Income, 3 Yr. CAGR %	66.17	68.77	26.95	18.12	1.34
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-13.31	-35.54	26.54	0.69
Accounts Receivable, 3 Yr. CAGR %	51.56	72.43	71.39	56.67	37.45
Inventory, 3 Yr. CAGR %	12.37	-35.18	-10.32	65.74	210.12
Net Property, Plant and Equip., 3 Yr. CAGR %	78.08	27.09	14.85	3.83	17.8
Total Assets, 3 Yr. CAGR %	57.23	57.84	54.97	41.97	33.79
Tangible Book Value, 3 Yr. CAGR %	47.95	50.23	47.35	47.33	36.09
Common Equity, 3 Yr. CAGR %	47.95	50.47	50.93	50.55	38.35
Cash From Operations, 3 Yr. CAGR %	403.81	49.47	32.19	-13.11	103.39
Capital Expenditures, 3 Yr. CAGR %	229.5	-25.77	-16.34	-24.18	70.86
Levered Free Cash Flow, 3 Yr. CAGR %	-	14.63	159.89	48.55	80.6
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	15.58	159.89	48.55	75.89
Dividend Per Share, 3 Yr. CAGR %	-94.8	-96.86	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	44.35	28.46	20.73
Gross Profit, 5 Yr. CAGR %	-	-	49.18	35.31	25.38
EBITDA, 5 Yr. CAGR %	-	-	59.8	43.06	24.44
EBITA, 5 Yr. CAGR %	-	-	64.67	44.4	24.65
EBIT, 5 Yr. CAGR %	-	-	64.67	44.4	24.65
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	49.15	43.44	15.83
Net Income, 5 Yr. CAGR %	-	-	49.15	43.44	15.83
Normalized Net Income, 5 Yr. CAGR %	-	-	49	37.48	16.49
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-4.14	-22.59
Accounts Receivable, 5 Yr. CAGR %	-	-	61.73	57.68	52.88
Inventory, 5 Yr. CAGR %	-	-	44.1	30.28	10.18
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	48.37	15.38	16.93
Total Assets, 5 Yr. CAGR %	-	-	55.65	47.53	43.6
Tangible Book Value, 5 Yr. CAGR %	-	-	48.45	46.99	41.76
Common Equity, 5 Yr. CAGR %	-	-	50.6	48.91	43.3
Cash From Operations, 5 Yr. CAGR %	-	-	172.45	57.61	30.11
Capital Expenditures, 5 Yr. CAGR %	-	-	103.94	-26.88	20.36
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	20.19	97.97
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	20.78	94.86