Saudi Arabian Oil Co
2222: XSAU (SAU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
SAR 98.00 | Dkpst | Bqbykvfxr |
Aramco Uses Debt to Keep Dividend Intact as Cash Flow Shrinks
Aramco reported net income of $14.0 billion during the fourth quarter and $49.0 billion for full-year 2020 compared with $20.0 billion and $88.2 billion, respectively, the year before on lower oil prices and weaker refining and chemical margins. Free cash flow fell to $49.1 billion from $78.3 billion the year before, which was insufficient to cover the full-year $75.0 billion dividend declared for 2020.