Saudi Arabian Oil Co

2222: XSAU (SAU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Saudi Aramco Earnings: Increasing Leverage Adds Uncertainty to Future Payouts

Allen Good

Nov 5, 2024

Aramco's third-quarter net income fell to $27.6 billion from $32.6 billion a year ago due to lower volumes and realizations and weaker downstream results. Dividends of $31.1 billion exceeded free cash flow, resulting in gearing rising to 1.9% from negative 6.3% at year-end 2023.

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Saudi Arabian Oil Co

Saudi Aramco Earnings: Increasing Leverage Adds Uncertainty to Future Payouts

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