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Emirati (ADX) Market Analysis & Valuation

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies152
  • 7D0.1%
  • 3M-8.8%
  • 1Y-0.5%
  • YTD-7.6%

In the last week, the market has stayed flat, however the Healthcare sector stood out, gaining 4.2%. As for the longer term, the market has also been flat over the past year. As for the next few years, earnings are expected to grow by 4.3% per annum.

Market Valuation and Performance

Has the Emirati Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Mar 2026د.إ3.6tد.إ1.2tد.إ267.4b10.4x13.4x3x
Sun, 22 Feb 2026د.إ4.0tد.إ1.2tد.إ266.3b11.4x15.2x3.4x
Tue, 20 Jan 2026د.إ3.9tد.إ1.1tد.إ255.0b12x15.4x3.4x
Thu, 18 Dec 2025د.إ3.9tد.إ1.1tد.إ255.2b11.7x15.2x3.4x
Sat, 15 Nov 2025د.إ3.8tد.إ1.1tد.إ251.8b11.6x15.2x3.4x
Mon, 13 Oct 2025د.إ3.9tد.إ1.1tد.إ240.6b12.4x16.2x3.6x
Wed, 10 Sep 2025د.إ3.9tد.إ1.1tد.إ236.4b12.7x16.3x3.6x
Fri, 08 Aug 2025د.إ4.0tد.إ1.1tد.إ242.6b13.4x16.6x3.8x
Sun, 06 Jul 2025د.إ3.9tد.إ1.0tد.إ240.2b12.9x16.2x3.7x
Tue, 03 Jun 2025د.إ3.8tد.إ1.0tد.إ240.3b12.6x15.8x3.6x
Thu, 01 May 2025د.إ3.8tد.إ1.0tد.إ241.9b12.9x15.8x3.8x
Sat, 29 Mar 2025د.إ3.7tد.إ1.0tد.إ237.9b13.1x15.5x3.7x
Mon, 24 Feb 2025د.إ3.7tد.إ964.4bد.إ245.5b13.1x15.2x3.9x
Wed, 22 Jan 2025د.إ3.7tد.إ935.6bد.إ237.3b14x15.6x4x
Fri, 20 Dec 2024د.إ3.6tد.إ928.2bد.إ235.9b12.6x15.3x3.9x
Sun, 17 Nov 2024د.إ3.5tد.إ894.3bد.إ230.6b13x15.1x3.9x
Tue, 15 Oct 2024د.إ3.5tد.إ847.1bد.إ228.2b13.3x15.1x4.1x
Thu, 12 Sep 2024د.إ3.4tد.إ849.4bد.إ229.1b13.6x14.9x4x
Sat, 10 Aug 2024د.إ3.4tد.إ826.0bد.إ228.1b13.1x14.7x4.1x
Mon, 08 Jul 2024د.إ3.3tد.إ786.6bد.إ216.1b13.3x15.4x4.2x
Wed, 05 Jun 2024د.إ3.2tد.إ781.6bد.إ215.0b13.1x15x4.1x
Fri, 03 May 2024د.إ3.3tد.إ762.5bد.إ228.9b13.9x14.3x4.3x
Sun, 31 Mar 2024د.إ3.4tد.إ737.6bد.إ221.6b14.4x15.3x4.6x
Tue, 27 Feb 2024د.إ3.3tد.إ739.0bد.إ206.4b15.5x16.2x4.5x
Thu, 25 Jan 2024د.إ3.5tد.إ656.3bد.إ189.5b15.9x18.2x5.3x
Sat, 23 Dec 2023د.إ3.4tد.إ653.9bد.إ188.1b15.1x18.1x5.2x
Mon, 20 Nov 2023د.إ3.4tد.إ650.1bد.إ187.4b14.9x17.9x5.2x
Wed, 18 Oct 2023د.إ3.3tد.إ627.5bد.إ190.3b14.8x17.5x5.3x
Fri, 15 Sep 2023د.إ3.5tد.إ616.4bد.إ187.4b15.5x18.5x5.6x
Sun, 13 Aug 2023د.إ3.5tد.إ613.4bد.إ187.6b15.7x18.7x5.7x
Tue, 11 Jul 2023د.إ3.4tد.إ601.5bد.إ182.2b16.2x18.6x5.6x
Thu, 08 Jun 2023د.إ3.3tد.إ664.3bد.إ195.5b15.6x16.6x4.9x
Sat, 06 May 2023د.إ3.4tد.إ651.2bد.إ179.5b15.7x18.7x5.2x
Mon, 03 Apr 2023د.إ3.3tد.إ642.3bد.إ176.2b15x18.5x5.1x
Price to Earnings Ratio

18.5x


Total Market Cap: د.إ3.3tTotal Earnings: د.إ176.2bTotal Revenue: د.إ642.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Emirati Market Price to Earnings3Y Average 16.2x202420252026
Current Market PE
  • Investors are pessimistic on the Emirian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 13.4x which is lower than its 3-year average PE of 16.2x.
Past Earnings Growth
  • The earnings for Emirian listed companies have grown 15% per year over the last three years.
  • Revenues for these companies have grown 23% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Emirati Market?

AE Market0.11%
Healthcare4.17%
Consumer Discretionary3.03%
Materials1.82%
Financials0.86%
Telecom0.81%
Tech0.49%
Utilities0.037%
Energy-0.11%
Real Estate-0.49%
Industrials-0.64%
Consumer Staples-5.52%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading close to its 3-year average PE ratio of 27.7x.
    • Analysts are expecting annual earnings growth of 5.3%, which is lower than the prior year's growth of 9.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings growth rate of 5.1% per year.
  • In contrast, the Materials sector is expected to see its earnings decline by 9.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
EMIRATESNBD Emirates NBD Bank PJSCد.إ28.503.4%
+د.إ6.0b		40.4%PB1.2xFinancials
ADNOCDRILL ADNOC Drilling Company P.J.S.Cد.إ5.095.4%
+د.إ4.2b		-3.2%PE15.3xEnergy
FAB First Abu Dhabi Bank P.J.S.Cد.إ17.562.0%
+د.إ3.8b		26.7%PB1.3xFinancials
EAND Emirates Telecommunications Group Company PJSCد.إ18.661.4%
+د.إ2.3b		9.1%PE11.3xTelecom
TAQA Abu Dhabi National Energy Company PJSCد.إ2.510.8%
+د.إ2.2b		-19.8%PE38xUtilities
See more

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Latest News

TAQA
د.إ2.51
Abu Dhabi National Energy Company PJSC
7D
0.8%
1Y
-19.8%
EMAAR
د.إ12.15
Emaar Properties PJSC
7D
1.7%
1Y
-10.3%
ADNOCDRILL
د.إ5.09
ADNOC Drilling Company P.J.S.C
7D
5.4%
1Y
-3.2%

ADNOCDRILL: Upcoming Dividend Decision Will Support Attractive Forward Return Potential

Analysts have trimmed their AED price target for ADNOC Drilling Company P.J.S.C. slightly, moving it from about AED 6.58 to around AED 6.52, reflecting updated assumptions on discount rates, revenue growth, profit margins, and future P/E levels. What's in the News A board meeting is scheduled for 11 February 2026 at 11:00 Coordinated Universal Time to review and approve the audited annual financial statements for the year ended 31 December 2025 (company disclosure).
ALPHADHABI
د.إ6.95
Alpha Dhabi Holding PJSC
7D
-7.5%
1Y
-37.5%
ADCB
د.إ12.54
Abu Dhabi Commercial Bank PJSC
7D
-1.9%
1Y
14.8%

ADCB: Upcoming Dividend Will Support Future Upside Potential

Analysts have slightly reduced their price target for Abu Dhabi Commercial Bank PJSC to AED 18.25 from about AED 18.53, reflecting updated assumptions for fair value, revenue growth, profit margins and future P/E levels. What's in the News Annual dividend of AED 0.6300 per share announced, with ex-date on March 12, 2026, record date on March 13, 2026, and payment on March 27, 2026 (Key Developments).
ADPORTS
د.إ4.08
Abu Dhabi Ports Company PJSC
7D
-3.8%
1Y
-5.8%
EMAARDEV
د.إ13.75
Emaar Development PJSC
7D
-4.5%
1Y
12.2%
ADNOCGAS
د.إ3.24
ADNOC Gas
7D
-1.8%
1Y
-0.9%
ADNOCDIST
د.إ3.78
Abu Dhabi National Oil Company for Distribution PJSC
7D
4.7%
1Y
10.9%
EMIRATESNBD
د.إ28.50
Emirates NBD Bank PJSC
7D
3.4%
1Y
40.4%

EMIRATESNBD: Upcoming Dividend Vote Will Shape Future Return Potential

Analysts have raised their price target on Emirates NBD Bank PJSC from AED34.42 to AED35.92, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News A special and extraordinary shareholders meeting is scheduled for Feb 17, 2026 at the Meydan Hotel in Dubai, with agenda items including approval of the 2025 annual report, audited financial statements, external auditor report, and the Internal Shari'ah Supervision Committee report on Islamic banking operations.
FAB
د.إ17.56
First Abu Dhabi Bank P.J.S.C
7D
2.0%
1Y
26.7%
AIRARABIA
د.إ4.04
Air Arabia PJSC
7D
-5.6%
1Y
28.3%
EAND
د.إ18.66
Emirates Telecommunications Group Company PJSC
7D
1.4%
1Y
9.1%
DEWA
د.إ2.64
Dubai Electricity and Water Authority (PJSC)
7D
-1.1%
1Y
5.2%
MASQ
د.إ214.90
Mashreqbank PSC
7D
-1.8%
1Y
-10.1%
IHC
د.إ390.90
International Holding Company PJSC
7D
0.2%
1Y
-2.5%