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Aramco Q3 2026 results: financial summary

Aramco made $31.2bn of adjusted net income in Q3 2026, up 9% on a year earlier, as its downstream earnings more than tripled. Profit, cash, debt, dividends, segments, production and outlook, from the company’s own results.

By Entelera Research

Summary

Aramco reported adjusted net income of $31.2bn for Q3 2026 on 3 November 2026, up 9% on the $28.6bn of Q3 2025 and 7% below Q2 2026. Net income was $36.3bn, up 35% on a year earlier. It includes a $6.91bn gain on the sale of Aramco’s stake in the PRefChem refinery in Malaysia to PETRONAS, which adjusted net income leaves out.

Key numberQ3 2026Change
Adjusted net income$31.2bn+9% vs Q3 2025; -7% vs Q2 2026
Net income (reported)$36.3bn+35% vs Q3 2025; +11% vs Q2 2026
Free cash flow$28.2bn+20% vs Q3 2025; 2.3 times Q2 2026
Downstream adjusted EBIT$10.3bn+234% vs Q3 2025; a record
Source: Aramco Q3 2026 interim report.

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Key findings

  • Adjusted net income of $31.2bn in Q3 2026, up 9% on Q3 2025; net income of $36.3bn includes a $6.91bn PRefChem sale gain.
  • Record downstream adjusted EBIT of $10.3bn, up 234% on Q3 2025 and 65% on Q2 2026.
  • Free cash flow of $28.2bn, up 20%, above the $21.9bn base dividend.
  • Gearing down to 5.5% and net debt to $28.6bn at 30 September 2026.
  • 2026 capital investment guidance kept at $50–55bn, including restoration costs and the HUMAIN stake.

Sample chart

Bar chart of Aramco net income: $26.9bn in Q3 2025, $32.7bn in Q2 2026 and $36.3bn in Q3 2026; adjusted net income $28.6bn, $33.4bn and $31.2bn
Aramco’s adjusted net income rose 9% on Q3 2025 to $31.2bn; net income of $36.3bn includes the $6.91bn PRefChem gain. Source: Aramco Q3 2026 interim report.

Table of contents

  1. Headline numbers vs the prior quarter and the prior year
  2. Profit: reported and adjusted
  3. Revenue and operating cash flow
  4. Capex, net debt and gearing
  5. Buybacks and dividends
  6. Segment results
  7. Production and throughput
  8. Guidance and outlook
  9. What it means
  10. Notes on the numbers and sources

Methodology

Built only from Aramco’s own published results documents for the period (results release, financial statements or stock-exchange filing) listed in the Sources section. No broker, consensus or paywalled data. Changes are Entelera calculations from the published figures. Non-US-dollar amounts are converted at the rate stated in the notes.

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