One Saudi stock is forecast to post +267% profit growth this quarter — Here's what analysts are expecting this Q1 2026
RASAN 8313.SA | 0.00 | |
YANSAB 2290.SA | 0.00 | |
SMC HEALTHCARE 4019.SA | 0.00 | |
MBC GROUP 4072.SA | 0.00 | |
BUPA ARABIA 8210.SA | 0.00 |
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Analyst consensus estimates for Q1 2026 are in — and the projected earnings picture across Saudi-listed companies is far from uniform. While some sectors are expected to see meaningful year-on-year recovery, others are forecast to face continued pressure. Here is a breakdown of 18 companies to track this season.
| Company | Sector | Q1 2026 (Est.) | YoY % (vs Q1'25) | QoQ % (vs Q4'25) | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Notes |
| Growth Leaders — Strongest YoY Gains | |||||||||
| Rasan Information Technology Co.(8313.SA) | IT / Digital Services | 110.00 | +266.7% | +22.9% | 30.00 | 45.02 | 82.32 | 89.47 | |
| Yanbu National Petrochemical Co.(2290.SA) | Petrochemicals | 48.81 | +257.1% | +191.6% | 13.67 | 44.55 | 74.19 | -53.31 | ⚠ Q4'25 base negative — QoQ% not meaningful |
| Specialized Medical Co.(4019.SA) | Healthcare | 68.70 | +131.8% | -48.7% | 29.64 | 36.36 | 66.25 | 133.98 | |
| MBC Group Co.(4072.SA) | Media | 309.00 | +33.3% | +1642.7% | 231.81 | 151.01 | 19.74 | -20.03 | ⚠ Q4'25 base negative — QoQ% not meaningful |
| Bupa Arabia for Cooperative Insurance Co.(8210.SA) | Insurance | 408.25 | +7.4% | +740.0% | 380.23 | 286.25 | 364.01 | 48.60 | |
| The Company for Cooperative Insurance(8010.SA) | Insurance | 275.00 | +5.1% | +37.0% | 261.69 | 467.42 | 173.26 | 200.75 | |
| SABIC Agri-Nutrients Co.(2020.SA) | Agri-Chemicals | 1,262.72 | +28.2% | +27.8% | 984.58 | 1,059.74 | 1,289.87 | 987.88 | |
| Al Rajhi Bank(1120.SA) | Banking | 6,470.73 vs 6,752(actual) | +9.6% | +1.5% | 5,906.04 | 6,151.01 | 6,360.20 | 6,374.50 | Earnings Beat |
| Blue-Chip Anchors | |||||||||
| Saudi Arabian Oil Co.(2222.SA) | Energy | 95,000.00 | -0.7% | +36.7% | 95,676.00 | 85,632.00 | 97,264.00 | 69,470.00 | |
| Saudi Telecom Co.(7010.SA) | Telecom | 3,278.60 | -10.1% | +0.9% | 3,648.95 | 3,823.49 | 4,106.94 | 3,248.66 | |
| The Saudi National Bank(1180.SA) | Banking | 6,186.92 vs 6,423(actual) | +2.7% | -3.1% | 6,021.90 | 6,137.24 | 6,468.66 | 6,385.48 | Earnings Beat |
| Earnings Pressure | |||||||||
| Saudi Real Estate Co.(4020.SA) | Real Estate | 4.00 | -97.0% | -85.4% | 135.17 | 94.45 | 38.90 | 27.44 | |
| Middle East Healthcare Co.(4009.SA) | Healthcare | 29.45 | -81.6% | -22.1% | 160.13 | 63.67 | 40.29 | 37.79 | |
| Dr. Soliman Abdel Kader Fakeeh Hospital Co.(4017.SA) | Healthcare | 35.30 | -51.1% | -45.0% | 72.20 | 82.12 | 71.64 | 64.22 | |
| Saudia Dairy and Foodstuff Co.(2270.SA) | Food & Beverages | 95.10 | -24.6% | +93.8% | 126.11 | 117.66 | 184.53 | 49.08 | |
| Sector Key Coverage | |||||||||
| Saudi Arabian Mining Co.(1211.SA) | Mining | 1,844.55 | +19.0% | +10.4% | 1,549.96 | 1,921.84 | 2,205.13 | 1,670.95 | |
| Riyadh Cables Group Co.(4142.SA) | Infrastructure | 276.02 | +7.7% | +4.8% | 256.18 | 279.28 | 281.49 | 263.44 | |
| Elm Co(7203.SA) | IT / Gov Tech | 501.73 | +1.2% | +12.4% | 495.73 | 589.64 | 558.73 | 446.25 | |
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Growth Leaders
The sharpest projected recoveries this quarter come from outside the traditional blue-chip space.
Rasan Information Technology Co.(8313.SA) is estimated to nearly quadruple its Q1 2025 net profit, from SAR 30M to SAR 110M — a +267% YoY change that reflects the rapid scaling of digital services demand in Saudi Arabia. Yanbu National Petrochemical Co.(2290.SA) is similarly projected to recover strongly at +257% YoY, bouncing off a low Q1 2025 base as the petrochemical cycle shifts.
In the insurance sector, both Bupa Arabia for Cooperative Insurance Co.(8210.SA) and The Company for Cooperative Insurance(8010.SA) are expected to post year-on-year gains, estimated at SAR 408M (+7% YoY) and SAR 275M (+5% YoY) respectively.
Al Rajhi Bank(1120.SA) remains the largest non-Aramco earner in this group, with consensus pointing to SAR 6.47B — up +10% from Q1 2025, and the net earnings has been released today at SAR 6.75B. SABIC Agri-Nutrients Co.(2020.SA) is forecast at SAR 1.26B, a +28% YoY increase.
MBC Group Co.(4072.SA) is projected to report SAR 309M, recovering from a loss in Q4 2025 and up +33% versus Q1 2025.
Blue-Chip Anchors
Saudi Arabian Oil Co.(2222.SA)'s Q1 2026 net profit is estimated at SAR 95.0B — broadly in line with the SAR 95.7B reported in Q1 2025, a marginal YoY change of -0.7%. At this scale, Aramco's results are in a different category from the rest of the market.
The Saudi National Bank(1180.SA) is projected at SAR 6.19B (+3% YoY) and the bank released its net profit today at SAR 6.4B. Saudi Telecom Co.(7010.SA) is projected at SAR 3.28B (-10% YoY), reflecting differing trajectories within the large-cap space this quarter.
Earnings Pressure
Saudi Real Estate Co.(4020.SA) is estimated at just SAR 4M in Q1 2026, versus SAR 135M a year ago — a -97% YoY drop. Middle East Healthcare Co.(4009.SA) and Dr. Soliman Abdel Kader Fakeeh Hospital Co.(4017.SA) are both forecast to report sharply lower profits, at -82% and -51% YoY respectively.
What makes this notable is the contrast within healthcare itself: Specialized Medical Co.(4019.SA) is projected at +132% YoY in the same quarter. The divergence suggests company-specific factors — rather than sector-wide headwinds — may be driving individual outcomes.
Saudia Dairy and Foodstuff Co.(2270.SA) is estimated at SAR 95M, down -25% from Q1 2025.
Sector Picks
Saudi Arabian Mining Co.(1211.SA) is forecast at SAR 1.84B, up +19% YoY — one of the larger absolute gains among large-cap names this quarter. Riyadh Cables Group Co.(4142.SA) is projected at SAR 276M (+8% YoY), and Elm Co(7203.SA) at SAR 502M, roughly flat versus Q1 2025 (+1% YoY).
All figures are consensus analyst estimates for Q1 2026. Actual reported results may differ materially. Year-on-year comparisons where the base period is negative are not meaningful and have been excluded. This content is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell any security.
Data: As of 21 Apr 2026 | Unit: Million SAR