Company Valuation: Emaar Properties

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 39,999 51,795 70,003 113,578 124,185 107,126 - -
Change - 29.49% 35.15% 62.25% 9.34% -13.74% - -
Enterprise Value (EV) 1 49,921 48,004 48,419 73,209 62,530 39,385 24,665 12,639
Change - -3.84% 0.86% 51.2% -14.59% -37.01% -37.38% -48.76%
P/E 9.4x 7.06x 6x 8.4x 7.06x 6.05x 5.54x 4.9x
PBR 0.65x 0.75x 0.9x 1.33x 1.32x 1.04x 0.91x 0.78x
PEG - 0.1x 0.1x 0.5x 0.2x 9.09x 0.6x 0.4x
Capitalization / Revenue 1.41x 2.08x 2.62x 3.2x 2.51x 1.99x 1.73x 1.58x
EV / Revenue 1.77x 1.93x 1.81x 2.06x 1.26x 0.73x 0.4x 0.19x
EV / EBITDA 6.2x 4.89x 3.02x 3.8x 2.45x 1.51x 0.78x 0.36x
EV / EBIT 7.51x 6.64x 3.82x 4.66x 2.83x 1.73x 0.93x 0.39x
EV / FCF 5.28x 2.74x 2.6x 3.16x 1.98x 1.27x 1.23x 0.76x
FCF Yield 18.9% 36.5% 38.5% 31.7% 50.4% 79% 81.4% 132%
Dividend per Share 2 0.15 0.25 0.5 1 1 1 1 1.017
Rate of return 3.07% 4.27% 6.31% 7.78% 7.12% 8.25% 8.25% 8.39%
EPS 2 0.52 0.83 1.32 1.53 1.99 2.003 2.187 2.472
Distribution rate 28.8% 30.1% 37.9% 65.4% 50.3% 49.9% 45.7% 41.1%
Net sales 1 28,270 24,926 26,750 35,505 49,557 53,759 61,758 67,798
EBITDA 1 8,057 9,816 16,033 19,277 25,561 26,154 31,734 34,896
EBIT 1 6,649 7,228 12,671 15,722 22,102 22,831 26,536 32,455
Net income 1 3,800 6,832 11,630 13,514 17,599 17,707 19,319 21,853
Net Debt 1 9,922 -3,791 -21,584 -40,370 -61,655 -67,741 -82,461 -94,487
Reference price 2 4.89 5.86 7.92 12.85 14.05 12.12 12.12 12.12
Nbr of stocks (in thousands) 8,179,739 8,838,790 8,838,790 8,838,790 8,838,790 8,838,790 - -
Announcement Date 2/14/22 2/14/23 2/8/24 2/13/25 2/12/26 - - -
1AED in Million2AED
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.05x0.73x1.51x8.25% 29.17B
14.88x4.71x12.81x3.38% 42.6B
21.11x4.3x17.65x1.19% 31.53B
7.86x1.41x7.04x4.53% 28.29B
14.24x3.12x14.93x2.47% 25.95B
16.12x1.03x6.79x2.31% 22.38B
16.68x6.95x19.71x1.14% 22.03B
9.05x2.2x7.56x4.11% 19.76B
7.89x1.75x5.65x2.81% 17.77B
Average 12.66x 2.91x 10.40x 3.35% 26.61B
Weighted average by Cap. 13.01x 3.04x 10.72x 3.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. EMAAR Stock
  4. Valuation Emaar Properties