Financials Qatar National Bank (Q.P.S.C.)

Equities

End-of-day quote Qatar Exchange Other stock markets 18/02/2026			5-day change	1st Jan Change
19.99 ^QAR	+0.55%		-1.72%	+7.13%

08:50am	Mideast stocks - Most Gulf markets gain on signs of progress in US-Iran talks	RE
02-17	Mideast stocks - Most Gulf equities retreat on US-Iran caution	RE

Fiscal Period: December	2021	2022	2024	2025	2026	2027	2028
Net sales ¹	27,943	34,560	40,729	44,112	46,396	48,966	52,414
Change	-	23.68%	-	8.31%	5.18%	5.54%	7.04%
EBITDA	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-
EBIT ¹	21,572	27,559	31,281	33,638	34,948	36,627	38,721
Change	-	27.75%	-	7.54%	3.9%	4.8%	5.72%
Interest Paid	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	14,666	18,914	19,767	22,023	25,027	27,660	29,809
Change	-	28.96%	-	11.42%	13.64%	10.52%	7.77%
Net income ¹	13,211	14,349	16,717	17,000	18,763	21,246	22,360
Change	-	8.61%	-	1.69%	10.37%	13.23%	5.24%
Announcement Date	11/01/22	11/01/23	13/01/25	13/01/26	-	-	-

¹QAR in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales	6,840	7,037	7,461	7,533	8,467	-	-	9,164	9,040	10,297	10,300	9,553	10,195	10,680	10,846	10,619	11,328	11,319	-	-	-	-
Change	-	2.89%	6.02%	0.97%	12.39%	-	-	-	-1.35%	13.9%	0.03%	-7.26%	6.72%	4.76%	1.55%	-2.09%	6.68%	-0.08%	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	5,448	5,818	5,909	6,760	-	7,390	7,109	7,250	-	8,007	7,266	-	8,221	-	-	-	8,630	-	-	-	-
Change	-	-	6.79%	1.57%	14.39%	-	-	-3.81%	1.99%	-	-	-9.25%	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,273	5,773	5,437	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9.48%	-5.82%	-	-	-	-
Net income ¹	3,464	3,484	2,951	3,616	3,890	3,967	3,364	3,882	3,723	4,268	4,143	4,019	4,549	4,006	-	4,140	4,141	4,171	5,241	5,420	5,487	5,559
Change	-	0.59%	-15.32%	22.55%	7.59%	1.95%	-15.18%	15.38%	-4.08%	14.63%	-2.92%	-3.01%	13.2%	-11.94%	-	-	0.02%	0.71%	25.66%	3.43%	1.22%	1.32%
Announcement Date	12/07/21	10/10/21	11/01/22	11/04/22	07/07/22	10/10/22	11/01/23	10/04/23	10/07/23	10/10/23	08/04/24	08/07/24	08/10/24	13/01/25	09/04/25	09/07/25	07/10/25	13/01/26	-	-	-	-

¹QAR in Million

Estimates

Fiscal Period: December	2021	2022	2024	2025	2026	2027	2028
Net Debt	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-
Announcement Date	11/01/22	11/01/23	13/01/25	13/01/26	-	-	-

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025
CAPEX ¹	1,168	1,174	1,335	1,244	1,479	1,567
Change	-	0.51%	13.73%	-6.82%	18.87%	5.98%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	12/01/21	11/01/22	11/01/23	11/01/24	13/01/25	13/01/26

¹QAR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	77.2%	79.74%	-	76.8%	76.26%	75.33%	74.8%	73.88%
EBT Margin (%)	-	52.49%	54.73%	-	48.53%	49.92%	53.94%	56.49%	56.87%
Net margin (%)	-	47.28%	41.52%	-	41.04%	38.54%	40.44%	43.39%	42.66%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	1.25%	1.26%	-	1.32%	1.26%	1.3%	1.33%	1.45%
ROE	-	17.07%	17.5%	-	15.08%	14.43%	16.52%	17.22%	16.44%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	0.55	0.6	-	0.7	0.725	0.8202	0.9092	0.9807
Change	-	-	9.09%	-	-	3.57%	13.12%	10.86%	7.87%
Book Value Per Share ¹	-	8.547	9.212	-	12.18	13.47	12.43	13.41	15.39
Change	-	-	7.78%	-	-	10.63%	-7.75%	7.86%	14.78%
EPS ¹	-	1.32	1.44	-	1.69	1.74	1.972	2.198	2.37
Change	-	-	9.09%	-	-	2.96%	13.34%	11.45%	7.85%
Nbr of stocks (in thousands)	-	9,236,429	9,236,429	-	9,236,429	9,117,359	9,113,326	9,113,326	9,113,326
Announcement Date	-	11/01/22	11/01/23	-	13/01/25	13/01/26	-	-	-