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Emirati (ADX) Materials Sector Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies11
  • 7D2.9%
  • 3M2.7%
  • 1Y9.5%
  • YTD2.8%

Over the last 7 days, the Materials industry has risen 2.9%, driven by gains in Fertiglobe and Borouge of 6.4% and 2.0%, respectively. Meanwhile, Gulf Cement Company P.S.C actually underperformed within the industry, shrinking 7.6% in the last week. In the last 12 months, the industry was up 9.5%. In the next few years, earnings are forecast to decline by 9.5% annually.

Sector Valuation and Performance

Has the Emirati Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 26 Mar 2026د.إ126.6bد.إ44.0bد.إ6.4b12.9x19.7x2.9x
Sat, 21 Feb 2026د.إ124.6bد.إ43.9bد.إ6.4b13.3x19.4x2.8x
Mon, 19 Jan 2026د.إ122.4bد.إ42.3bد.إ6.2b13x19.8x2.9x
Wed, 17 Dec 2025د.إ121.3bد.إ42.3bد.إ6.2b13x19.6x2.9x
Fri, 14 Nov 2025د.إ120.5bد.إ42.3bد.إ6.1b12.9x19.6x2.9x
Sun, 12 Oct 2025د.إ126.4bد.إ41.5bد.إ5.2b16.8x24.3x3x
Tue, 09 Sep 2025د.إ124.7bد.إ41.5bد.إ5.2b16.6x24x3x
Thu, 07 Aug 2025د.إ127.6bد.إ41.5bد.إ5.1b18x24.8x3.1x
Sat, 05 Jul 2025د.إ125.6bد.إ41.6bد.إ5.4b17x23.3x3x
Mon, 02 Jun 2025د.إ122.3bد.إ41.6bد.إ5.4b16.6x22.7x2.9x
Wed, 30 Apr 2025د.إ121.7bد.إ40.6bد.إ5.5b19.7x21.9x3x
Fri, 28 Mar 2025د.إ116.2bد.إ40.6bد.إ5.6b17.8x20.9x2.9x
Sun, 23 Feb 2025د.إ125.2bد.إ40.5bد.إ5.3b18.9x23.7x3.1x
Tue, 21 Jan 2025د.إ125.0bد.إ40.7bد.إ5.3b19x23.4x3.1x
Thu, 19 Dec 2024د.إ120.3bد.إ40.7bد.إ5.3b19.1x22.5x3x
Sat, 16 Nov 2024د.إ123.2bد.إ40.7bد.إ5.3b19.3x23.1x3x
Mon, 14 Oct 2024د.إ122.1bد.إ40.7bد.إ5.7b17.7x21.4x3x
Wed, 11 Sep 2024د.إ116.0bد.إ40.7bد.إ5.7b18.3x20.4x2.9x
Fri, 09 Aug 2024د.إ108.8bد.إ40.7bد.إ5.7b18.2x19.2x2.7x
Sun, 07 Jul 2024د.إ106.3bد.إ40.8bد.إ5.7b17.7x18.6x2.6x
Tue, 04 Jun 2024د.إ108.2bد.إ40.8bد.إ5.7b17.6x18.9x2.7x
Thu, 02 May 2024د.إ116.2bد.إ41.6bد.إ5.7b21.5x20.4x2.8x
Sat, 30 Mar 2024د.إ117.8bد.إ43.4bد.إ5.5b21.1x21.4x2.7x
Mon, 26 Feb 2024د.إ113.3bد.إ43.4bد.إ5.6b20x20.3x2.6x
Wed, 24 Jan 2024د.إ117.1bد.إ50.9bد.إ6.7b18.9x17.4x2.3x
Fri, 22 Dec 2023د.إ116.6bد.إ50.9bد.إ6.7b18.5x17.4x2.3x
Sun, 19 Nov 2023د.إ121.3bد.إ50.9bد.إ6.7b19.4x18.1x2.4x
Tue, 17 Oct 2023د.إ123.1bد.إ49.0bد.إ6.2b20x19.7x2.5x
Thu, 14 Sep 2023د.إ131.0bد.إ49.0bد.إ6.3b21.4x21x2.7x
Sat, 12 Aug 2023د.إ136.3bد.إ49.0bد.إ6.3b22x21.7x2.8x
Mon, 10 Jul 2023د.إ129.2bد.إ50.5bد.إ7.5b18.9x17.2x2.6x
Wed, 07 Jun 2023د.إ122.1bد.إ50.5bد.إ7.5b20.6x16.3x2.4x
Fri, 05 May 2023د.إ130.4bد.إ51.9bد.إ8.2b21.1x15.9x2.5x
Sun, 02 Apr 2023د.إ129.4bد.إ52.7bد.إ9.0b18.6x14.4x2.5x
Price to Earnings Ratio

14.4x


Total Market Cap: د.إ129.4bTotal Earnings: د.إ9.0bTotal Revenue: د.إ52.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Emirati Materials Sector Price to Earnings3Y Average 20.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the Emirian Materials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 20.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 11% per year over the last three years,
  • Revenues have also declined 5.9% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Emirati Materials sector?

AE Market2.45%
Materials2.92%
Chemicals3.00%
Basic Materials2.57%
Industry PE
  • Investors are most optimistic about the Basic Materials industry even though it's trading below its 3-year average PE ratio of 63.9x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Chemicals industry, which is trading close to its 3-year average of 18.0x.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Chemicals industry since they expect its earnings to decline by only 9.5% per year over the next 5 years, which isn't as bad as the other industries.
  • This is a reversal from its past annual earnings growth rate of 80% per year.
  • In contrast, the Chemicals industry 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 Price7D1YValuation
FERTIGLB Fertiglobeد.إ3.006.4%
+د.إ1.5b		38.9%PE15.6x
BOROUGE Borougeد.إ2.602.0%
+د.إ1.5b		7.0%PE19.4x
APEX Apex Investment PSCد.إ3.602.9%
+د.إ355.3m		-8.2%PE336.6x
EMSTEEL EMSTEEL Building Materials PJSCد.إ1.083.8%
+د.إ274.0m		-5.3%PE14.2x
NCC National Cement Company (Public Shareholding)د.إ4.322.9%
+د.إ43.1m		16.1%PE7.6x

Latest News

NCC
د.إ4.32
National Cement Company (Public Shareholding)
7D
2.9%
1Y
16.1%
GCEM
د.إ0.85
Gulf Cement Company P.S.C
7D
-7.6%
1Y
28.6%
SCIDC
د.إ1.09
Sharjah Cement and Industrial Development (PJSC)
7D
1.9%
1Y
36.8%
BOROUGE
د.إ2.60
Borouge
7D
2.0%
1Y
7.0%

BOROUGE: Dividend Proposal And Refined Assumptions Will Shape A Steady Outlook

Analysts have nudged their AED based price target for Borouge slightly higher, reflecting small adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions that together indicate a modestly improved outlook in their models. What's in the News The board met on 3 February 2026 to review the annual audited financial statements for the year ended 31 December 2025 and to consider key corporate items, including dividends and the timing and agenda of the next general assembly meeting (company board meeting announcement).
APEX
د.إ3.60
Apex Investment PSC
7D
2.9%
1Y
-8.2%
FCI
د.إ0.46
Fujairah Cement Industries PJSC
7D
-3.4%
1Y
49.4%
EMSTEEL
د.إ1.08
EMSTEEL Building Materials PJSC
7D
3.8%
1Y
-5.3%
FERTIGLB
د.إ3.00
Fertiglobe
7D
6.4%
1Y
38.9%
FBI
د.إ2.85
Fujairah Building Industries P.J.S.C
7D
-5.0%
1Y
-17.9%
RAKWCT
د.إ0.93
Ras Al Khaimah for White Cement & Construction Materials P.S.C
7D
-4.9%
1Y
-16.3%