Projected Income Statement: Emaar Development

Forecast Balance Sheet: Emaar Development

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -2,430 -10,471 -18,418 -23,566 - -48,056 -58,412 -
Change - -330.91% -75.9% -27.95% - - -21.55% -
Announcement Date 14/02/22 17/03/23 09/02/24 14/02/25 12/02/26 - - -
1AED in Million
Estimates

Cash Flow Forecast: Emaar Development

Fiscal Period: December 2021 2022 2023 2024 2026 2027 2028
CAPEX 1 2.93 2.852 8.883 5.6 10.56 14.14 18.3
Change - -2.66% 211.47% -36.96% - 33.85% 29.44%
Free Cash Flow (FCF) 1 4,195 8,613 9,756 10,946 12,789 15,345 16,020
Change - 105.35% 13.27% 12.19% - 19.99% 4.4%
Announcement Date 14/02/22 17/03/23 09/02/24 14/02/25 - - -
1AED in Million
Estimates

Forecast Financial Ratios: Emaar Development

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 26.63% 36.6% 67% 49.21% 52.14% 56.65% 47.09% 36.82%
EBIT Margin (%) 26.16% 34.26% 60.71% 47.25% 48.87% 49.11% 45.47% 36.8%
EBT Margin (%) 27.13% 36.96% 71.17% 53.13% 56.36% 43.02% 47.68% 41.22%
Net margin (%) 20.79% 33% 55.61% 39.87% 41.17% 39.88% 35.86% 31.08%
FCF margin (%) 26.88% 74.63% 81.84% 57.17% - 33.46% 38.45% 40.51%
FCF / Net Income (%) 129.29% 226.18% 147.18% 143.4% - 83.89% 107.22% 130.33%

Profitability

        
ROA 9.29% 9.69% 14.52% 14.1% - 14.07% 13.87% 12.8%
ROE 25.2% 23.23% 32.23% 29.8% - 34.15% 27.27% 23.15%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 0.02% 0.02% 0.07% 0.03% - 0.03% 0.04% 0.05%
CAPEX / EBITDA (%) 0.07% 0.07% 0.11% 0.06% - 0.05% 0.08% 0.13%
CAPEX / FCF (%) 0.07% 0.03% 0.09% 0.05% - 0.08% 0.09% 0.11%

Items per share

        
Cash flow per share 1 1.049 2.154 2.441 2.738 - 3.529 4.544 -
Change - 105.27% 13.33% 12.15% - - 28.75% -
Dividend per Share 1 - 0.52 0.5205 0.68 - 1.07 1.254 1
Change - - 0.1% 30.64% - - 17.23% -20.25%
Book Value Per Share 1 3.623 4.574 5.71 7.097 - 11.72 14.61 19.82
Change - 26.25% 24.83% 24.29% - - 24.68% 35.7%
EPS 1 0.81 0.95 1.66 1.91 2.83 3.515 3.691 3.07
Change - 17.28% 74.74% 15.06% 48.17% 24.19% 5.02% -16.83%
Nbr of stocks (in thousands) 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000
Announcement Date 14/02/22 17/03/23 09/02/24 14/02/25 12/02/26 - - -
1AED
Estimates
2026 *2027 *
P/E ratio 5.46x 5.2x
PBR 1.64x 1.31x
EV / Sales 0.75x 0.46x
Yield 5.57% 6.53%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
BB
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
19.20AED
Average target price
20.32AED
Spread / Average Target
+5.83%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. EMAARDEV Stock
  4. Financials Emaar Development