DUBAI FINANCIAL MARKET |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.36 AED | +0.74% |
|
-1.45% | -2.16% |
| Apr. 26 | Orient Insurance Restarts Trading on Dubai Bourse | MT |
| Apr. 26 | Mashreqbank Resumes Trading on Dubai Financial Market | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 7,756 | 7,436 | 22,708 | 12,074 | 11,114 | 10,874 | - | - |
| Enterprise Value (EV) 1 | 4,352 | 3,787 | 18,931 | 8,845 | 7,620 | 8,213 | 8,078 | 6,802 |
| P/E ratio | 64.7 x | 54.7 x | 218 x | 83.9 x | 33.9 x | 34 x | 30.2 x | 27.2 x |
| Yield | 2.58% | - | - | - | - | 2.57% | 2.94% | 3.31% |
| Capitalization / Revenue | 41.5 x | 32 x | 105 x | 47 x | 31.8 x | 29.7 x | 27.3 x | 25.3 x |
| EV / Revenue | 23.3 x | 16.3 x | 87.7 x | 34.4 x | 21.8 x | 22.4 x | 20.2 x | 15.8 x |
| EV / EBITDA | 68.5 x | 35.7 x | 190 x | - | 50 x | 37.2 x | 32.7 x | - |
| EV / FCF | 35.2 x | - | 57.1 x | -53 x | 16.9 x | 16.7 x | 15.9 x | - |
| FCF Yield | 2.84% | - | 1.75% | -1.89% | 5.91% | 5.99% | 6.3% | - |
| Price to Book | 0.99 x | 0.96 x | 2.87 x | 1.52 x | - | - | - | - |
| Nbr of stocks (in thousands) | 7,995,763 | 7,995,763 | 7,995,763 | 7,995,763 | 7,995,763 | 7,995,763 | - | - |
| Reference price 2 | 0.9700 | 0.9300 | 2.840 | 1.510 | 1.390 | 1.360 | 1.360 | 1.360 |
| Announcement Date | 2/9/20 | 2/3/21 | 2/1/22 | 1/31/23 | 1/30/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 187 | 232.1 | 215.8 | 256.9 | 349 | 366 | 399 | 430 |
| EBITDA 1 | 63.55 | 106 | 99.47 | - | 152.5 | 221 | 247 | - |
| EBIT 1 | 125.6 | 26.32 | 19.78 | 50.84 | 131.5 | 140 | 166 | - |
| Operating Margin | 67.17% | 11.34% | 9.17% | 19.79% | 37.68% | 38.25% | 41.6% | - |
| Earnings before Tax (EBT) | 122 | - | 99.14 | - | - | - | - | - |
| Net income 1 | 120.6 | 137.9 | 103.8 | 147.1 | 329.4 | 338.9 | 387.2 | 453.3 |
| Net margin | 64.5% | 59.41% | 48.12% | 57.26% | 94.38% | 92.59% | 97.03% | 105.41% |
| EPS 2 | 0.0150 | 0.0170 | 0.0130 | 0.0180 | 0.0410 | 0.0400 | 0.0450 | 0.0500 |
| Free Cash Flow 1 | 123.8 | - | 331.8 | -166.8 | 450.2 | 492 | 509 | - |
| FCF margin | 66.21% | - | 153.73% | -64.94% | 128.98% | 134.43% | 127.57% | - |
| FCF Conversion (EBITDA) | 194.8% | - | 333.53% | - | 295.3% | 222.62% | 206.07% | - |
| FCF Conversion (Net income) | 102.65% | - | 319.48% | - | 136.67% | 145.18% | 131.47% | - |
| Dividend per Share 2 | 0.0250 | - | - | - | - | 0.0350 | 0.0400 | 0.0450 |
| Announcement Date | 2/9/20 | 2/3/21 | 2/1/22 | 1/31/23 | 1/30/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | - | - | 48.02 | - | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | 35.59 | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | 74.13% | - | - | - | - | - | - | - |
| EPS 1 | -0.000100 | 0.008000 | 0.005000 | 0.003200 | 0.006900 | 0.004000 | 0.009000 | 0.009300 | 0.0177 | 0.0100 | 0.0100 | 0.0100 | 0.0100 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/28/21 | 2/1/22 | 7/28/22 | 10/27/22 | 1/31/23 | 4/27/23 | 7/27/23 | 10/30/23 | 1/30/24 | - | - | - | - |
1AED
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 3,404 | 3,649 | 3,777 | 3,229 | 3,494 | 2,661 | 2,797 | 4,072 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 124 | - | 332 | -167 | 450 | 492 | 509 | - |
| ROE (net income / shareholders' equity) | 1.54% | 1.76% | 1.32% | 1.85% | 4.09% | 4.18% | 4.13% | 4.31% |
| ROA (Net income/ Total Assets) | 1.26% | 1.41% | 1.05% | 1.51% | - | - | - | - |
| Assets 1 | 9,561 | 9,791 | 9,918 | 9,716 | - | - | - | - |
| Book Value Per Share | 0.9800 | 0.9700 | 0.9900 | 0.9900 | - | - | - | - |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 25 | - | 6.57 | 8.22 | 16.3 | 21.8 | 23.6 | 28 |
| Capex / Sales | 13.38% | - | 3.04% | 3.2% | 4.67% | 5.96% | 5.91% | 6.51% |
| Announcement Date | 2/9/20 | 2/3/21 | 2/1/22 | 1/31/23 | 1/30/24 | - | - | - |
1AED in Million
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
C+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
1.36
AED
Average target price
1.42
AED
Spread / Average Target
+4.41%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -2.16% | 2.96B | |
| +0.16% | 75.94B | |
| +12.06% | 21.7B | |
| +27.19% | 12.54B | |
| +39.83% | 8.36B | |
| +44.53% | 5.21B | |
| +30.25% | 2.55B | |
| -5.45% | 1.69B | |
| +15.14% | 1.29B | |
| +74.10% | 1.28B |
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