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 70,003 113,578 124,185 104,828 - -
Change - 29.49% 35.15% 62.25% 9.34% -15.59% - -
Enterprise Value (EV) 1 49,921 48,004 48,419 73,209 62,530 37,175 22,805 10,341
Change - -3.84% 0.86% 51.2% -14.59% -40.55% -38.65% -54.66%
P/E 9.4x 7.06x 6x 8.4x 7.06x 5.92x 5.42x 4.8x
PBR 0.65x 0.75x 0.9x 1.33x 1.32x 1.02x 0.89x 0.76x
PEG - 0.1x 0.1x 0.5x 0.2x 8.9x 0.59x 0.4x
Capitalization / Revenue 1.41x 2.08x 2.62x 3.2x 2.51x 1.95x 1.7x 1.56x
EV / Revenue 1.77x 1.93x 1.81x 2.06x 1.26x 0.69x 0.37x 0.15x
EV / EBITDA 6.2x 4.89x 3.02x 3.8x 2.45x 1.42x 0.72x 0.3x
EV / EBIT 7.51x 6.64x 3.82x 4.66x 2.83x 1.6x 0.85x 0.32x
EV / FCF 5.28x 2.74x 2.6x 3.16x 1.98x 1.32x 1.14x 0.62x
FCF Yield 18.9% 36.5% 38.5% 31.7% 50.4% 76% 88% 162%
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% 8.43% 8.43% 8.57%
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 53,697 61,507 67,171
EBITDA 1 8,057 9,816 16,033 19,277 25,561 26,116 31,712 34,765
EBIT 1 6,649 7,228 12,671 15,722 22,102 23,171 26,788 31,952
Net income 1 3,800 6,832 11,630 13,514 17,599 17,707 19,315 21,853
Net Debt 1 9,922 -3,791 -21,584 -40,370 -61,655 -67,654 -82,023 -94,487
Reference price 2 4.89 5.86 7.92 12.85 14.05 11.86 11.86 11.86
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
5.92x0.69x1.42x8.43% 28.54B
15.32x4.85x13.03x3.31% 43.62B
20.93x4.27x17.53x1.2% 31.13B
8.13x1.43x7.17x4.38% 29.27B
13.98x3.07x14.73x2.51% 25.18B
15.13x6.83x18.32x1.41% 21.51B
8.77x2.22x7.12x4.03% 20.29B
9.75x1.62x13.77x3.88% 18.02B
7.78x1.72x5.56x2.86% 17.47B
Average 11.75x 2.97x 10.96x 3.56% 26.11B
Weighted average by Cap. 12.31x 3.13x 11.14x 3.6%

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