- Adjusted net income for Q3 2025 is $28.0 billion, up from $27.7 billion in Q3 2024.
- Free cash flow increased to $23.6 billion from $22.0 billion in Q3 2024.
- Aramco's gearing ratio improved to 6.3% as of September 30, 2025.
- Completion of $11.1 billion Jafurah midstream deal highlights unconventional gas expansion.
Financial Performance
Aramco reported an adjusted net income of $28.0 billion for Q3 2025, a slight increase from $27.7 billion in Q3 2024. Cash flow from operating activities rose to $36.1 billion, while free cash flow reached $23.6 billion, up from $22.0 billion in the previous year.
Gearing Ratio and Dividends
The company's gearing ratio improved to 6.3% as of September 30, 2025, compared to 6.5% as of June 30, 2025. The board declared a Q3 2025 base dividend of $21.1 billion and a performance-linked dividend of $0.2 billion, to be paid in the fourth quarter.
Strategic Investments
Aramco announced a planned investment in HUMAIN, emphasizing its digital strategy and potential for new value creation. The company also completed an $11.1 billion midstream deal at Jafurah, showcasing the value of its unconventional gas expansion.
Production Capacity and Expansion
The 2030 sales gas production capacity growth target was revised upwards, aiming for around 80% growth over 2021 levels, resulting in an anticipated total of approximately six million barrels of oil equivalent per day. The initial investment in Fujian Sinopec Aramco Refining & Petrochemical Co. Ltd. marks progress in Aramco's strategic downstream expansion.
Investor Confidence
The response to a $3.0 billion international Sukuk issuance highlighted investor confidence in Aramco's financial resilience and robust balance sheet.
