Makhazen (KWSE:MKHZN)

Makhazen Balance Sheet

Financials in millions KWD. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	8.79	12.14	215.77	184.02	123.65	71.1
Short-Term Investments	44.73	38.75	107.89	39.64	32.98	30.72
Cash & Short-Term Investments	53.51	50.9	323.65	223.66	156.63	101.81
Cash Growth	-84.45%	-84.28%	44.70%	42.80%	53.84%	-42.69%
Accounts Receivable	14.17	53.06	230.74	222.6	214.01	91.09
Other Receivables	-	5.38	9.48	8.79	11.45	8.53
Receivables	14.17	58.44	240.22	231.39	225.45	99.62
Inventory	0.85	0.35	70.73	58.32	45.25	18.76
Prepaid Expenses	-	0.94	51.08	52.23	28.62	19.09
Other Current Assets	79.81	75.49	108.43	48.82	52.39	35.51
Total Current Assets	148.35	186.12	794.11	614.42	508.34	274.81
Property, Plant & Equipment	197.68	387.46	1,137	1,039	970.66	735.29
Long-Term Investments	480.67	493.86	1,570	1,336	1,238	1,629
Goodwill	3.97	3.97	266.71	260.32	258.48	35.92
Other Intangible Assets	-	-	86.72	91.48	93.06	11.18
Other Long-Term Assets	5.4	4.96	55.52	146.99	61.38	28.21
Total Assets	836.37	1,077	4,198	3,750	3,349	2,905

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	134.59	17.52	163.39	112.65	115.97	59.85
Accrued Expenses	-	93.8	236.49	234.26	208.66	153.93
Current Portion of Long-Term Debt	6.09	1.32	136.11	119.95	51.49	15.22
Current Portion of Leases	3.89	4.38	66.7	46.94	34.58	14.86
Current Income Taxes Payable	-	19.89	34.34	34.56	37.43	28.06
Other Current Liabilities	13.27	23.6	122.84	87.9	86.18	49.85
Total Current Liabilities	157.83	160.5	759.87	636.26	534.31	321.77
Long-Term Debt	250.93	248.46	1,073	981.97	885.87	408.32
Long-Term Leases	21.15	24.07	206.58	150.86	133.74	88.81
Long-Term Unearned Revenue	-	-	-	2.56	8.41	-
Pension & Post-Retirement Benefits	13.39	13.34	39.7	35.56	29.17	22.48
Other Long-Term Liabilities	38.1	38.06	76.9	45.92	42.72	4.85
Total Liabilities	481.41	484.42	2,156	1,853	1,634	846.22

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	267.61	267.61	267.61	267.61	267.61	223.01
Additional Paid-In Capital	56.77	209.42	209.42	209.42	209.42	197.02
Retained Earnings	71.34	142.6	1,058	1,823	1,739	1,762
Treasury Stock	-40.56	-40.56	-40.56	-40.56	-40.56	-49.24
Comprehensive Income & Other	-26.09	-9.21	-477.43	-486.7	-574.05	-120.27
Total Common Equity	329.07	569.86	1,017	1,773	1,602	2,013
Minority Interest	25.9	22.38	1,025	124.04	113.14	46.51
Shareholders' Equity	354.96	592.24	2,042	1,897	1,715	2,059
Total Liabilities & Equity	836.37	1,077	4,198	3,750	3,349	2,905

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	282.05	278.22	1,482	1,300	1,106	527.21
Net Cash (Debt)	-228.54	-227.33	-1,159	-1,076	-949.05	-425.4
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.09	-0.09	-0.47	-0.43	-0.37	-0.17
Filing Date Shares Outstanding	2,552	2,552	2,552	2,552	2,552	2,526
Total Common Shares Outstanding	2,552	2,552	2,552	2,552	2,552	2,526
Working Capital	-9.48	25.62	34.24	-21.84	-25.97	-46.96
Book Value Per Share	0.13	0.22	0.40	0.69	0.63	0.80
Tangible Book Value	325.1	565.89	663.52	1,421	1,250	1,965
Tangible Book Value Per Share	0.13	0.22	0.26	0.56	0.49	0.78
Land	-	17.27	135.22	133.83	90.86	52.03
Machinery	-	65.99	353.85	353.01	408.2	301.63
Construction In Progress	-	10.27	68.73	47.48	37.4	28.64

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 4, 2026

Data Sources Report a data error