Nahdi Medical Company
4164.SR · SAU
Company research
Nahdi Medical Company (4164.SR) is Saudi Arabia's leading pharmacy retail chain, founded in 1986 and headquartered in Jeddah, operating a vast network of approximately 1,200 pharmacies across more than 140 cities and villages in the Kingdom of Saudi Arabia and the United Arab Emirates. The company offers a comprehensive range of products spanning pharmaceuticals, health and wellness, beauty, maternal and infant care, and medical equipment, complemented by an extensive omni-health services platform that includes Nahdi Care Clinics, telemedicine, laboratory services, and home healthcare programs. Nahdi further enhances its reach through digital channels, including the Nahdi Online e-commerce platform and the E-Pharmacist app, which connects users with licensed pharmacists for virtual consultations, collectively serving approximately 97% of Saudi Arabia's population. Listed on the Saudi Exchange (Tadawul) in March 2022 under ticker 4164, Nahdi reported revenues of approximately SAR 9.82 billion (FY2024) and operates as a subsidiary of Alnahdi Holding Company Limited and Saudi Economic and Development Company Limited, under the leadership of CEO Yasser Ghulam Bin Abdulaziz Joharji.
Research reports
ANB Capital’s 1Q26 results review highlights that Nahdi’s revenue grew 6% year-on-year with strong contributions from retail, healthcare and regional expansion, while gross margins contracted due to mix shifts but operating profit beat forecasts thanks to lower-than-expected opex. The report views the stock’s 10% twelve‑month share price decline as creating an attractive entry point, with a SAR 125.7 target implying about 23.6% upside and discusses risks around margin pressure and continued investment spending.
Argaam · March 8, 2026Nahdi Medical Co. – 4Q25 Results ReviewArgaam’s 4Q25 results review concludes that Nahdi’s fourth‑quarter 2025 performance exceeded expectations, citing stronger‑than‑anticipated topline growth and lower operating expenses as key drivers of the beat. It provides detailed market data around the quarter’s revenues, margins and operating efficiency, framing the company’s recent execution positively while flagging operating costs and sector dynamics as ongoing areas to monitor.