Riyadh – Mubasher: The National Company for Learning and Education (NCLE) has announced its financial results for the third quarter (Q3) of the 2026 fiscal year (FY) while highlighting record profits and a robust expansion strategy, according to a bourse disclosure.
During an earnings conference call held on 10 June 2026, the company’s management detailed a 12% year-on-year (YoY) increase in revenue as of 30 April 2026, reaching nearly SAR 610 million for the first nine months (9M) of FY25/26, alongside significant growth in student enrollment.
The company reported that student enrollment reached 35,200 for the nine-month period ended on 30 April 2026, representing a 10% increase compared to the same period in the previous year. This growth contributed to a net profit of SAR 168 million, a 9% rise from the SAR 155 million recorded in the first nine months of FY24/25. Earnings per share for the period stood at SAR 3.91.
Management highlighted a strategic change in revenue recognition accounting that took effect in the first quarter (Q1) of FY25/26. Revenue from educational services is now recognized over the course of the academic year rather than the fiscal year. While this change affects the timing of revenue within interim quarterly reports, the company emphasized that it has no impact on the overall annual financial results. When adjusted for the number of revenue-recognition days, the adjusted net profit growth for the nine-month period stands at 11%.
NCLE’s operational footprint continues to expand, with 17 school campuses currently in operation and a total student capacity of 45,300.
The company maintains a strong financial position with total assets valued at SAR 1.70 billion and a return on equity of 19%. The debt-to-equity ratio remains at a conservative 21%.
Future Investments
Looking ahead, the company detailed an aggressive pipeline of new projects. Four new schools are scheduled to commence operations in August 2026 for the 2026-2027 academic year.
These include the Ishbiliyah project in Riyadh, with a capacity of 2,000 students and a capital expenditure of SAR 51 million.
This is in addition to Al Rabie project, which has a capacity of 2,100 students and a capital expenditure of SAR 57 million.
Additionally, the Laban project in Riyadh will add capacity for 3,300 students, while a new school in Al Ula, developed in coordination with the Royal Commission for AlUla, will accommodate 600 students.
Further expansion is planned for 2027, with projects in North Obhur, Jeddah, and the Khuzam district in Riyadh.
These initiatives align with broader market trends in Saudi Arabia, where private school penetration is targeted to reach 25% by 2030, up from the current 17%.
NCLE has consistently outperformed the general market, maintaining a five-year compound annual growth rate in student enrollment of 21%.
Beyond financial metrics, the company showcased various corporate achievements, including receiving the King Abdulaziz Quality Award and being certified as a Great Place to Work.
Student achievements were also a focal point, with NCLE students securing top positions in international artificial intelligence competitions, robotics, and national sports leagues.
These results underscore the company’s dual focus on operational scaling and educational excellence within the evolving Saudi educational landscape.
