Declared Dividend • 16h
First half dividend increased to ر.س0.15 Dividend of ر.س0.15 is 25% higher than last year. Ex-date: 30th August 2026 Payment date: 9th September 2026 Dividend yield will be 5.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 15
Second quarter 2026 earnings released: EPS: ر.س0.11 (vs ر.س0.074 in 2Q 2025) Second quarter 2026 results: EPS: ر.س0.11 (up from ر.س0.074 in 2Q 2025). Revenue: ر.س570.7m (up 11% from 2Q 2025). Net income: ر.س44.6m (up 51% from 2Q 2025). Profit margin: 7.8% (up from 5.7% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Professional Services industry in Asia. Buy Or Sell Opportunity • Aug 05
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to ر.س6.48. The fair value is estimated to be ر.س5.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last year. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Buy Or Sell Opportunity • Jul 16
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to ر.س6.44. The fair value is estimated to be ر.س5.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last year. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • May 18
Saudi Manpower Solutions Company, Annual General Meeting, Jun 10, 2026 Saudi Manpower Solutions Company, Annual General Meeting, Jun 10, 2026, at 19:00 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 14
First quarter 2026 earnings released: EPS: ر.س0.12 (vs ر.س0.10 in 1Q 2025) First quarter 2026 results: EPS: ر.س0.12 (up from ر.س0.10 in 1Q 2025). Revenue: ر.س557.0m (up 12% from 1Q 2025). Net income: ر.س48.6m (up 20% from 1Q 2025). Profit margin: 8.7% (up from 8.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Professional Services industry in Asia. Reported Earnings • Apr 04
Full year 2025 earnings released: EPS: ر.س0.38 (vs ر.س0.32 in FY 2024) Full year 2025 results: EPS: ر.س0.38 (up from ر.س0.32 in FY 2024). Revenue: ر.س2.09b (up 11% from FY 2024). Net income: ر.س150.6m (up 19% from FY 2024). Profit margin: 7.2% (up from 6.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Professional Services industry in Asia. Declared Dividend • Apr 01
Dividend of ر.س0.15 announced Shareholders will receive a dividend of ر.س0.15. Ex-date: 6th April 2026 Payment date: 16th April 2026 Dividend yield will be 4.9%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 36% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.2% to ر.س5.64. The fair value is estimated to be ر.س7.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Earnings per share has declined by 12%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ر.س0.10 (vs ر.س0.072 in 3Q 2024) Third quarter 2025 results: EPS: ر.س0.10 (up from ر.س0.072 in 3Q 2024). Revenue: ر.س534.2m (up 15% from 3Q 2024). Net income: ر.س40.6m (up 40% from 3Q 2024). Profit margin: 7.6% (up from 6.3% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Professional Services industry in Asia. Buy Or Sell Opportunity • Sep 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.5% to ر.س5.65. The fair value is estimated to be ر.س7.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last year. Earnings per share has declined by 25%. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Declared Dividend • Aug 21
First half dividend of ر.س0.12 announced Shareholders will receive a dividend of ر.س0.12. Ex-date: 25th August 2025 Payment date: 7th September 2025 Dividend yield will be 4.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (80% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: ر.س0.074 (vs ر.س0.09 in 2Q 2024) Second quarter 2025 results: EPS: ر.س0.074 (down from ر.س0.09 in 2Q 2024). Revenue: ر.س513.8m (up 7.8% from 2Q 2024). Net income: ر.س29.5m (down 18% from 2Q 2024). Profit margin: 5.7% (down from 7.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Professional Services industry in Asia. Reported Earnings • May 22
First quarter 2025 earnings released: EPS: ر.س0.10 (vs ر.س0.09 in 1Q 2024) First quarter 2025 results: EPS: ر.س0.10 (up from ر.س0.09 in 1Q 2024). Revenue: ر.س498.0m (up 4.5% from 1Q 2024). Net income: ر.س40.5m (up 13% from 1Q 2024). Profit margin: 8.1% (up from 7.5% in 1Q 2024). The increase in margin was driven by higher revenue. Announcement • Apr 18
Saudi Manpower Solutions Company, Annual General Meeting, May 12, 2025 Saudi Manpower Solutions Company, Annual General Meeting, May 12, 2025, at 19:00 Arab Standard Time. Location: riyadh Saudi Arabia Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ر.س6.59, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 20x in the Professional Services industry in Saudi Arabia. Upcoming Dividend • Apr 01
Upcoming dividend of ر.س0.13 per share Eligible shareholders must have bought the stock before 08 April 2025. Payment date: 20 April 2025. The company is paying out more than 100% of its profits and is paying out 80% of its cash flow. Trailing yield: 3.8%. Lower than top quartile of Saudi dividend payers (4.9%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: ر.س0.32 (vs ر.س0.42 in FY 2023) Full year 2024 results: EPS: ر.س0.32 (down from ر.س0.42 in FY 2023). Revenue: ر.س1.89b (up 3.6% from FY 2023). Net income: ر.س126.4m (down 24% from FY 2023). Profit margin: 6.7% (down from 9.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Professional Services industry in Asia. Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: ر.س0.072 (vs ر.س0.11 in 3Q 2023) Third quarter 2024 results: EPS: ر.س0.072 (down from ر.س0.11 in 3Q 2023). Revenue: ر.س463.5m (up 1.7% from 3Q 2023). Net income: ر.س29.0m (down 34% from 3Q 2023). Profit margin: 6.3% (down from 9.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Professional Services industry in Asia. New Risk • Oct 01
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 134% Cash payout ratio: 129% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 134% Cash payout ratio: 129% High level of non-cash earnings (28% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Reported Earnings • Aug 19
Second quarter 2024 earnings released: EPS: ر.س0.09 (vs ر.س0.11 in 2Q 2023) Second quarter 2024 results: EPS: ر.س0.09 (down from ر.س0.11 in 2Q 2023). Revenue: ر.س476.6m (up 4.6% from 2Q 2023). Net income: ر.س35.8m (down 19% from 2Q 2023). Profit margin: 7.5% (down from 9.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Professional Services industry in Asia. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ر.س11.32, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Professional Services industry in Asia. Simply Wall St's valuation model estimates the intrinsic value at ر.س7.78 per share. Buy Or Sell Opportunity • Jul 01
Now 12% overvalued The stock has been flat over the last 90 days, currently trading at ر.س8.79. The fair value is estimated to be ر.س7.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.9%. For the next 3 years, revenue is forecast to grow by 9.7% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Buy Or Sell Opportunity • Jun 25
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at ر.س8.12. The fair value is estimated to be ر.س6.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.9%. Board Change • Jun 13
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Abdullah Abdulaziz Al Kanhal was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.