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Emirati (ADX) Market Analysis & Valuation

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies150
  • 7D0.3%
  • 3M-0.5%
  • 1Y4.9%
  • YTD0.6%

The Communication Services sector gained 3.2% while the market remained flat over the last week. Meanwhile, the market is actually up 4.9% over the past year. Looking forward, earnings are forecast to grow by 5.8% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 14 Jan 2026د.إ3.9tد.إ1.1tد.إ255.0b11.9x15.3x3.4x
Fri, 12 Dec 2025د.إ3.9tد.إ1.1tد.إ255.2b11.7x15.3x3.4x
Sun, 09 Nov 2025د.إ3.9tد.إ1.1tد.إ248.6b12.1x15.7x3.4x
Tue, 07 Oct 2025د.إ3.9tد.إ1.1tد.إ240.5b12.5x16.1x3.6x
Thu, 04 Sep 2025د.إ3.9tد.إ1.1tد.إ239.4b12.8x16.5x3.7x
Sat, 02 Aug 2025د.إ4.0tد.إ1.1tد.إ236.5b13.3x17x3.8x
Mon, 30 Jun 2025د.إ3.9tد.إ1.0tد.إ240.2b13.1x16.2x3.7x
Wed, 28 May 2025د.إ3.8tد.إ1.0tد.إ240.2b12.5x15.8x3.6x
Fri, 25 Apr 2025د.إ3.8tد.إ1.0tد.إ238.0b12.7x15.9x3.8x
Sun, 23 Mar 2025د.إ3.6tد.إ997.9bد.إ237.5b13x15.3x3.6x
Tue, 18 Feb 2025د.إ3.7tد.إ954.0bد.إ244.6b13.4x15.3x3.9x
Thu, 16 Jan 2025د.إ3.7tد.إ928.2bد.إ235.9b13.5x15.8x4x
Sat, 14 Dec 2024د.إ3.6tد.إ928.2bد.إ235.9b12.7x15.1x3.8x
Mon, 11 Nov 2024د.إ3.5tد.إ884.1bد.إ232.3b13.4x15.1x4x
Wed, 09 Oct 2024د.إ3.4tد.إ847.1bد.إ228.2b13.6x15.1x4.1x
Fri, 06 Sep 2024د.إ3.4tد.إ834.2bد.إ228.7b13.6x15x4.1x
Sun, 04 Aug 2024د.إ3.4tد.إ803.1bد.إ227.2b13.2x14.9x4.2x
Tue, 02 Jul 2024د.إ3.3tد.إ786.5bد.إ216.1b13.4x15.3x4.2x
Thu, 30 May 2024د.إ3.2tد.إ781.6bد.إ215.0b12.5x14.7x4.1x
Sat, 27 Apr 2024د.إ3.3tد.إ756.8bد.إ224.2b14.1x14.7x4.4x
Mon, 25 Mar 2024د.إ3.4tد.إ738.8bد.إ221.0b15.2x15.6x4.7x
Wed, 21 Feb 2024د.إ3.4tد.إ738.3bد.إ206.5b15.7x16.4x4.6x
Fri, 19 Jan 2024د.إ3.5tد.إ654.5bد.إ188.1b15.7x18.4x5.3x
Sun, 17 Dec 2023د.إ3.3tد.إ653.9bد.إ188.1b15.1x17.8x5.1x
Tue, 14 Nov 2023د.إ3.4tد.إ648.7bد.إ189.4b15.3x17.8x5.2x
Thu, 12 Oct 2023د.إ3.4tد.إ627.5bد.إ190.3b15.5x18x5.4x
Sat, 09 Sep 2023د.إ3.5tد.إ616.4bد.إ187.4b15.5x18.4x5.6x
Mon, 07 Aug 2023د.إ3.5tد.إ615.9bد.إ187.8b16.4x18.4x5.6x
Wed, 05 Jul 2023د.إ3.4tد.إ601.5bد.إ182.2b15.8x18.7x5.7x
Fri, 02 Jun 2023د.إ3.2tد.إ664.4bد.إ195.5b15.6x16.6x4.9x
Sun, 30 Apr 2023د.إ3.4tد.إ648.8bد.إ179.8b15.7x18.7x5.2x
Tue, 28 Mar 2023د.إ3.2tد.إ641.9bد.إ177.4b15.6x18x5x
Thu, 23 Feb 2023د.إ3.0tد.إ563.0bد.إ161.3b13.5x18.9x5.4x
Sat, 21 Jan 2023د.إ3.1tد.إ554.3bد.إ153.3b13.6x20.5x5.7x
Price to Earnings Ratio

20.5x


Total Market Cap: د.إ3.1tTotal Earnings: د.إ153.3bTotal Revenue: د.إ554.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Emirati Market Price to Earnings3Y Average 16.5x202420252026
Current Market PE
  • Investors are relatively neutral on the Emirian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 16.5x.
Past Earnings Growth
  • The earnings for Emirian listed companies have grown 18% per year over the last three years.
  • Revenues for these companies have grown 27% 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 Market0.30%
Telecom3.22%
Financials2.73%
Real Estate2.39%
Consumer Discretionary0.60%
Industrials0.26%
Tech-0.87%
Healthcare-0.91%
Materials-1.14%
Energy-2.02%
Utilities-3.25%
Consumer Staples-3.56%
Sector PE
  • Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 27.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 5.0%, which is higher than its past year's earnings growth of 0.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 26% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Telecom industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
GULFNAV Gulf Navigation Holding PJSCد.إ2.29-8.8%
د.إ3.8b		-59.4%PE726.6xIndustrials
EMIRATESNBD Emirates NBD Bank PJSCد.إ29.851.5%
+د.إ2.8b		36.3%PB1.3xFinancials
DEWA Dubai Electricity and Water Authority (PJSC)د.إ2.891.8%
+د.إ2.5b		2.5%PE18xUtilities
FAB First Abu Dhabi Bank P.J.S.Cد.إ17.901.0%
+د.إ2.0b		24.3%PB1.4xFinancials
DU Emirates Integrated Telecommunications Company PJSCد.إ10.354.1%
+د.إ1.9b		31.8%PE17xTelecom
See more

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GULFNAV
د.إ2.29
Gulf Navigation Holding PJSC
7D
-8.8%
1Y
-59.4%
EMIRATESNBD
د.إ29.85
Emirates NBD Bank PJSC
7D
1.5%
1Y
36.3%

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ADNOCDRILL
د.إ5.22
ADNOC Drilling Company P.J.S.C
7D
-2.1%
1Y
-7.6%

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Analysts have nudged their fair value estimate for ADNOC Drilling Company P.J.S.C. slightly higher to about $6.64 per share, reflecting updated assumptions around revenue, profit margins and future P/E that collectively support a modestly higher price target. What's in the News Updated full year 2025 revenue guidance to a range of US$4.75b to US$4.85b, compared with the previous range of US$4.65b to US$4.80b (company guidance).
ADIB
د.إ21.34
Abu Dhabi Islamic Bank PJSC
7D
1.6%
1Y
41.3%

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ALPHADHABI
د.إ9.33
Alpha Dhabi Holding PJSC
7D
-1.8%
1Y
-26.4%
ADNOCLS
د.إ5.59
ADNOC Logistics & Services
7D
-2.4%
1Y
1.6%
EAND
د.إ18.84
Emirates Telecommunications Group Company PJSC
7D
1.1%
1Y
15.6%

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DU
د.إ10.35
Emirates Integrated Telecommunications Company PJSC
7D
4.1%
1Y
31.8%

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Dec 24
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TAQA
د.إ3.03
Abu Dhabi National Energy Company PJSC
7D
-4.4%
1Y
-2.9%
EMAAR
د.إ14.45
Emaar Properties PJSC
7D
-2.4%
1Y
13.3%

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Dec 08
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2POINTZERO
د.إ2.50
Two Point Zero Group P.J.S.C
7D
-4.6%
1Y
16.3%
DEWA
د.إ2.89
Dubai Electricity and Water Authority (PJSC)
7D
1.8%
1Y
2.5%

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Nov 15
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ADNOCGAS
د.إ3.46
ADNOC Gas
7D
-0.6%
1Y
0%
EMAARDEV
د.إ16.20
Emaar Development PJSC
7D
-1.5%
1Y
17.4%
MODON
د.إ3.48
Modon Holding PSC
7D
2.7%
1Y
3.0%
FAB
د.إ17.90
First Abu Dhabi Bank P.J.S.C
7D
1.0%
1Y
24.3%