Listed exposure to Saudi government awards
Every Etimad award whose supplier's registered name matches a Tadawul or Nomu issuer, aggregated by issuer for calendar 2025. The share is a floor: subsidiaries are not yet consolidated into their listed parents.
Overview
Calendar 2025 · award value won by Tadawul and Nomu issuersConcentration share of listed award value by issuer rank
| Issuers | SAR m | Share of listed | Share of all 2025 awards |
|---|
Share of all 2025 awards scales the listed share (8.7%) by each group's share of listed value. The remaining 91.3% of award value went to unlisted Saudi companies, foreign companies (4.0%) and public bodies.
Issuers
All matched issuers · select a column head to sort · filter by ticker, name or ISINBars show each issuer's value against the largest. SAR 0.0m marks awards whose value is not published in the Etimad record. Issuer names are as registered with the exchange.
Method
How an award is attributed to an issuerRegistered-name match
The supplier name on the Etimad award record is matched to the issuer's registered company name as published by the exchange, after normalising legal-form words and spelling variants. No fuzzy or semantic matching is used, so a match is either exact or absent.
Measured accuracy
On the 200 largest suppliers by 2025 award value, the match found 20 of the 21 listed issuers present (recall 20/21) with no false attributions (precision 20/20). Accuracy outside the 200 largest suppliers has not been measured.
Identifiers
Each issuer carries its four-digit Tadawul ticker, its ISIN and its market (Main Market or Nomu), so the dataset can be joined to price and index data.
Window and values
Calendar 2025 by award date, SAR m including VAT. The subscriber dataset is updated daily and also shows awards whose value Etimad has not published.
Caveats
Read before using the figuresSubsidiaries are not consolidated. An award won by a subsidiary under its own registered name is not attributed to the listed parent. The listed share of 8.7% is therefore a floor, and an issuer's figure can understate its group's exposure.
Award is not revenue. A contract award is recorded on the award date at its full value, whatever its duration. Revenue is recognised as work is delivered, so an issuer's award value in a year is not its government revenue in that year.
Values include VAT, as published on Etimad.
Joint ventures and consortia are attributed to the named lead supplier only when its registered name matches an issuer.
Figures are published for information only and are not investment advice. Methodology · Request the dataset