Financials Aldar Properties

Equities

ALDAR

AEA002001013

Real Estate Development & Operations

Delayed Abu Dhabi Securities Exchange 06:55:00 2024-04-29 EDT 5-day change 1st Jan Change
5.36 AED +4.08% Intraday chart for Aldar Properties +2.10% +0.19%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 16,983 24,767 31,372 34,831 42,065 42,144 - -
Enterprise Value (EV) 1 19,444 27,275 30,892 32,579 42,426 34,106 32,661 42,144
P/E ratio 8.57 x 12.8 x 13.5 x 12 x 11 x 9.66 x 7.88 x 6.39 x
Yield 6.71% 4.6% 3.76% 3.61% 3.18% 3.63% 3.95% 4.51%
Capitalization / Revenue 2.38 x 2.95 x 3.66 x 3.11 x 2.97 x 2.25 x 1.93 x 1.72 x
EV / Revenue 2.72 x 3.25 x 3.6 x 2.91 x 3 x 1.82 x 1.5 x 1.72 x
EV / EBITDA 8.47 x 11.1 x 10.4 x 8.89 x 8.32 x 5.62 x 4.57 x 5.46 x
EV / FCF 18 x 22.1 x 5.67 x -23.9 x 31.2 x 14.7 x 11.1 x 9.78 x
FCF Yield 5.55% 4.53% 17.6% -4.18% 3.21% 6.81% 9.04% 10.2%
Price to Book 0.68 x 0.97 x 1.17 x 1.15 x 1.28 x 1.19 x 1.18 x 0.95 x
Nbr of stocks (in thousands) 7,862,630 7,862,630 7,862,630 7,862,630 7,862,630 7,862,630 - -
Reference price 2 2.160 3.150 3.990 4.430 5.350 5.360 5.360 5.360
Announcement Date 20-02-12 21-02-14 22-02-09 23-02-09 24-02-09 - - -
1AED in Million2AED
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,148 8,392 8,576 11,200 14,161 18,764 21,800 24,489
EBITDA 1 2,296 2,464 2,966 3,664 5,100 6,073 7,149 7,721
EBIT 1 2,028 2,196 2,716 3,321 3,977 5,494 6,680 7,175
Operating Margin 28.37% 26.17% 31.67% 29.66% 28.08% 29.28% 30.64% 29.3%
Earnings before Tax (EBT) 1 1,925 1,932 2,333 3,183 4,528 4,854 5,937 8,122
Net income 1 1,984 1,932 2,316 2,944 3,922 4,466 5,357 6,393
Net margin 27.76% 23.02% 27% 26.29% 27.7% 23.8% 24.57% 26.11%
EPS 2 0.2520 0.2460 0.2950 0.3680 0.4860 0.5548 0.6803 0.8393
Free Cash Flow 1 1,079 1,235 5,448 -1,361 1,361 2,321 2,953 4,310
FCF margin 15.09% 14.72% 63.52% -12.15% 9.61% 12.37% 13.55% 17.6%
FCF Conversion (EBITDA) 46.97% 50.14% 183.67% - 26.69% 38.22% 41.31% 55.82%
FCF Conversion (Net income) 54.36% 63.92% 235.26% - 34.7% 51.97% 55.12% 67.42%
Dividend per Share 2 0.1450 0.1450 0.1500 0.1600 0.1700 0.1943 0.2117 0.2417
Announcement Date 20-02-12 21-02-14 22-02-09 23-02-09 24-02-09 - - -
1AED in Million2AED
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 3,764 2,256 2,683 2,669 2,713 3,134 3,066 3,240 3,458 4,400 5,616 4,812 5,395 6,095 6,218
EBITDA 1 1,255 - - 963.2 889.1 907 955 1,191 - 1,600 1,708 1,380 1,550 1,806 -
EBIT 1 1,123 784.9 780 797.1 803.6 804.5 844 1,080 945.2 1,107 1,571 1,247 1,416 1,671 1,759
Operating Margin 29.83% 34.79% 29.07% 29.86% 29.61% 25.67% 27.53% 33.34% 27.33% 25.17% 27.97% 25.92% 26.25% 27.41% 28.29%
Earnings before Tax (EBT) - - - - 612.9 1,017 - 1,288 - 1,449 1,637 - - - -
Net income 1 783.5 779.6 667.9 804 556.7 915.9 836 1,198 794.2 1,204 1,317 972.6 1,142 1,350 -
Net margin 20.81% 34.56% 24.89% 30.12% 20.52% 29.22% 27.27% 36.98% 22.97% 27.37% 23.45% 20.21% 21.16% 22.15% -
EPS 2 - 0.1000 - 0.1020 0.0640 0.1170 0.0860 0.1460 0.0980 0.1500 0.1610 0.1237 0.1452 0.1717 0.1800
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 20-08-12 22-02-09 22-04-27 22-07-28 22-10-27 23-02-09 23-05-03 23-07-31 23-10-30 24-02-09 24-04-29 - - - -
1AED in Million2AED
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,461 2,507 - - 361 - - -
Net Cash position 1 - - 480 2,253 - 8,038 9,482 -
Leverage (Debt/EBITDA) 1.072 x 1.018 x - - 0.0708 x - - -
Free Cash Flow 1 1,079 1,235 5,448 -1,361 1,361 2,321 2,953 4,310
ROE (net income / shareholders' equity) 8.11% 7.66% 8.79% 10.3% 12.4% 13.4% 14.7% 14.7%
ROA (Net income/ Total Assets) 4.97% 4.74% 5.49% 5.31% 5.85% 4.96% 5.72% -
Assets 1 39,903 40,750 42,189 55,410 67,067 90,048 93,719 -
Book Value Per Share 2 3.160 3.260 3.420 3.840 4.180 4.500 4.550 5.640
Cash Flow per Share 2 0.1700 0.1800 0.7400 0.7900 0.4600 1.260 0.7000 0.9500
Capex 1 241 179 353 7,544 2,229 1,669 1,611 1,407
Capex / Sales 3.37% 2.13% 4.11% 67.36% 15.74% 8.89% 7.39% 5.74%
Announcement Date 20-02-12 21-02-14 22-02-09 23-02-09 24-02-09 - - -
1AED in Million2AED
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
5.36 AED
Average target price
6.374 AED
Spread / Average Target
+18.91%
Consensus
  1. Stock Market
  2. Equities
  3. ALDAR Stock
  4. Financials Aldar Properties