Qatar Navigation Q.P.S.C. (QSE:QNNS)

Qatar Navigation Q.P.S.C. Financials Overview

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

Revenue & Profits

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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
Revenue Revenue Growth	3,442	3,327	2,840	2,942	3,285	2,784
Revenue Growth	20.69%	17.15%	-3.47%	-10.46%	18.01%	22.78%
Gross Profit Gross Profit Growth	1,333	1,336	1,113	995.3	1,083	844.56
Operating Income Operating Income Growth	607.32	669.29	536.39	436.33	486.86	252.96
Net Income Net Income Growth	1,193	1,271	1,122	1,030	1,013	724.15
Earnings Per Share EPS Growth	1.05	1.12	0.99	0.91	0.89	0.64
EPS Growth	5.44%	13.26%	8.91%	1.72%	39.85%	1125.18%

Revenue by Segment

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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
Milaha Maritime and Logistics Milaha Maritime and Logistics Growth	837.27	863.68	827.8	778.89	1,404	1,118
Milaha Capital Milaha Capital Growth	382.05	390.9	429.13	437.16	539.61	415.41
Adjustments and Eliminations Adjustments and Eliminations Growth	-337.49	-374.23	-331.06	-312.59	-415.32	-277.82
Milaha Offshore Milaha Offshore Growth	2,043	1,942	1,471	1,524	1,212	964.48
Milaha Trading Milaha Trading Growth	207.22	200.95	196.48	270.03	326.75	309.31
Milaha Gas and Petrochem Milaha Gas and Petrochem Growth	309.42	303.91	246.49	244.04	218.6	254.36
Total Total Growth	3,442	3,327	2,840	2,942	3,285	2,784

Cash & Debt

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Fiscal Year	Current	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 & Investments Cash & Investments Growth	2,393	2,490	1,350	1,558	2,004	1,160
Total Debt Total Debt Growth	696.15	751.57	775.74	609	1,277	1,727
Net Cash (Debt) Net Cash Growth	1,697	1,739	573.8	948.89	727.19	-566.83
Net Cash Growth	299.50%	203.01%	-39.53%	30.49%	-	-
Net Cash Per Share Net Cash Per Share Growth	1.49	1.53	0.51	0.84	0.64	-0.50

Cash Flow & CapEx

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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
Operating Cash Flow Operating Cash Flow Growth	1,081	1,173	726.47	669.39	512.9	511.53
Capital Expenditures CapEx Growth	-376.96	-481.06	-824.41	-219.05	-226.36	-222.6
Free Cash Flow Free Cash Flow Growth	704.33	692.3	-97.94	450.34	286.54	288.92
Free Cash Flow Growth	-	-	-	57.16%	-0.82%	-3.22%

Margins

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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
Gross Margin	38.72%	40.17%	39.19%	33.83%	32.95%	30.34%
Operating Margin	17.64%	20.12%	18.89%	14.83%	14.82%	9.09%
Pretax Margin	36.65%	40.17%	39.91%	35.47%	30.97%	26.23%
Profit Margin	34.66%	38.20%	39.51%	35.02%	30.83%	26.01%
FCF Margin	20.46%	20.81%	-3.45%	15.31%	8.72%	10.38%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 27, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	0.450	0.450	0.400	0.375	0.350	0.300
Dividend Per Share Growth	12.50%	12.50%	6.67%	7.14%	16.67%	0%
Dividend Yield	4.55%	4.34%	3.93%	4.31%	4.01%	4.72%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 27, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	9.38	9.63	11.13	10.70	11.39	11.98
Forward PE	-	8.95	8.95	9.02	10.00	9.29
P/FCF Ratio	15.89	17.68	-	24.47	40.25	30.04
PS Ratio	3.25	3.68	4.40	3.75	3.51	3.12

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:

Jul 25, 2026

Data Sources Report a data error