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Emirati (ADX) Market Analysis & Valuation

UpdatedDec 30, 2025
DataAggregated Company Financials
Companies151
  • 7D0.1%
  • 3M1.3%
  • 1Y5.9%
  • YTD7.1%

The market has been flat in the last week, however the Consumer Staples sector is down 3.3%. As for the longer term, the market has risen 5.9% in the past 12 months. Looking forward, earnings are forecast to grow by 5.4% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 30 Dec 2025د.إ3.9tد.إ1.1tد.إ255.0b11.7x15.4x3.4x
Thu, 27 Nov 2025د.إ3.8tد.إ1.1tد.إ255.1b11.7x14.8x3.3x
Sat, 25 Oct 2025د.إ4.0tد.إ1.1tد.إ244.0b12.6x16.2x3.6x
Mon, 22 Sep 2025د.إ3.9tد.إ1.1tد.إ240.5b12.7x16.3x3.6x
Wed, 20 Aug 2025د.إ4.0tد.إ1.1tد.إ239.3b13.2x16.7x3.7x
Fri, 18 Jul 2025د.إ4.0tد.إ1.0tد.إ240.7b13.3x16.6x3.8x
Sun, 15 Jun 2025د.إ3.8tد.إ1.0tد.إ240.3b12.1x15.7x3.6x
Tue, 13 May 2025د.إ3.9tد.إ1.0tد.إ239.9b12.7x16.1x3.7x
Thu, 10 Apr 2025د.إ3.6tد.إ1.0tد.إ237.9b12.6x15.3x3.6x
Sat, 08 Mar 2025د.إ3.7tد.إ996.8bد.إ236.9b13x15.5x3.7x
Mon, 03 Feb 2025د.إ3.7tد.إ938.1bد.إ237.4b13.2x15.6x3.9x
Wed, 01 Jan 2025د.إ3.7tد.إ928.2bد.إ235.8b13.5x15.8x4x
Fri, 29 Nov 2024د.إ3.5tد.إ922.4bد.إ232.5b13.2x14.9x3.8x
Sun, 27 Oct 2024د.إ3.4tد.إ861.9bد.إ231.3b13.6x14.9x4x
Tue, 24 Sep 2024د.إ3.5tد.إ848.7bد.إ228.7b13.5x15.2x4.1x
Thu, 22 Aug 2024د.إ3.4tد.إ834.1bد.إ229.0b13.6x14.8x4.1x
Sat, 20 Jul 2024د.إ3.4tد.إ787.8bد.إ216.5b13.3x15.5x4.3x
Mon, 17 Jun 2024د.إ3.3tد.إ781.8bد.إ214.9b13.2x15.2x4.2x
Wed, 15 May 2024د.إ3.3tد.إ776.4bد.إ223.9b13.9x14.9x4.3x
Fri, 12 Apr 2024د.إ3.4tد.إ736.4bد.إ220.9b14.1x15.3x4.6x
Sun, 10 Mar 2024د.إ3.4tد.إ738.2bد.إ221.1b14.9x15.4x4.6x
Tue, 06 Feb 2024د.إ3.4tد.إ653.2bد.إ192.1b16.1x17.7x5.2x
Thu, 04 Jan 2024د.إ3.5tد.إ653.9bد.إ188.1b15.4x18.4x5.3x
Sat, 02 Dec 2023د.إ3.3tد.إ649.5bد.إ187.3b15.5x17.8x5.1x
Mon, 30 Oct 2023د.إ3.2tد.إ638.7bد.إ186.8b14.9x17.3x5.1x
Wed, 27 Sep 2023د.إ3.5tد.إ616.3bد.إ187.5b16.1x18.7x5.7x
Fri, 25 Aug 2023د.إ3.5tد.إ616.2bد.إ187.4b16.1x18.6x5.7x
Sun, 23 Jul 2023د.إ3.4tد.إ603.8bد.إ184.3b16.2x18.6x5.7x
Tue, 20 Jun 2023د.إ3.3tد.إ664.5bد.إ195.4b15.6x16.9x5x
Thu, 18 May 2023د.إ3.3tد.إ663.5bد.إ195.2b16.3x16.8x4.9x
Sat, 15 Apr 2023د.إ3.3tد.إ642.8bد.إ176.8b15.5x18.5x5.1x
Mon, 13 Mar 2023د.إ3.1tد.إ575.2bد.إ159.1b14.4x19.4x5.4x
Wed, 08 Feb 2023د.إ3.1tد.إ563.5bد.إ154.3b13.4x19.8x5.4x
Fri, 06 Jan 2023د.إ3.2tد.إ554.4bد.إ153.4b13.8x20.6x5.7x
Price to Earnings Ratio

20.6x


Total Market Cap: د.إ3.2tTotal Earnings: د.إ153.4bTotal Revenue: د.إ554.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Emirati Market Price to Earnings3Y Average 16.6x20242025
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 16.6x.
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 Market0.12%
Materials0.99%
Telecom0.81%
Industrials0.35%
Utilities0.23%
Financials0.018%
Real Estate-0.024%
Consumer Discretionary-0.11%
Energy-0.41%
Tech-1.02%
Healthcare-1.12%
Consumer Staples-3.27%
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 4.2%, 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
ALPHADHABI Alpha Dhabi Holding PJSCد.إ9.701.9%
+د.إ1.8b		-18.5%PE14.6xIndustrials
RAKBANK National Bank of Ras Al-Khaimah (P.S.C.)د.إ8.419.1%
+د.إ1.4b		39.0%PB1.2xFinancials
NBF National Bank of Fujairah PJSCد.إ4.7510.0%
+د.إ1.1b		25.7%PB1.6xFinancials
ADPORTS Abu Dhabi Ports Company PJSCد.إ4.841.9%
+د.إ457.9m		-4.9%PE16.5xIndustrials
TECOM TECOM Group PJSCد.إ3.382.4%
+د.إ400.0m		7.3%PE12.1xReal Estate
See more

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ALPHADHABI
د.إ9.74
Alpha Dhabi Holding PJSC
7D
2.3%
1Y
-18.2%

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Dec 28
Alpha Dhabi Holding PJSC's (ADX:ALPHADHABI) Share Price Could Signal Some Risk
EAND
د.إ18.22
Emirates Telecommunications Group Company PJSC
7D
-1.6%
1Y
11.6%

Emirates Telecommunications Group Company PJSC (ADX:EAND) Might Become A Compounding Machine

Dec 28
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GHITHA
د.إ17.70
Ghitha Holding P.J.S.C
7D
4.1%
1Y
-26.3%
ADCB
د.إ14.30
Abu Dhabi Commercial Bank PJSC
7D
-4.2%
1Y
37.2%

ADCB: Share Capital Increase And AI Shift Will Drive Future Upside

Analysts have nudged their price target for Abu Dhabi Commercial Bank PJSC slightly higher to reflect modest improvements in fair value estimates, revenue growth expectations, profit margins, and the bank's prospective valuation multiple. What's in the News Board meeting scheduled for October 27, 2025, to review financial results as of September 30, 2025, and to discuss updates on the bank's AI transformation strategy (Key Developments) Shareholders approved an amendment to Article 6 of the Articles of Association at the October 13, 2025 General Assembly, reflecting an increase in share capital (Key Developments) Special and Extraordinary Shareholders Meeting held on October 13, 2025, at 17:00 Arabian Standard Time to address key corporate matters (Key Developments) Valuation Changes The fair value estimate has risen slightly from AED 17.84 to AED 17.92 per share, reflecting a modest upward revision in intrinsic valuation.
EMIRATESNBD
د.إ28.20
Emirates NBD Bank PJSC
7D
-3.1%
1Y
31.5%

EMIRATESNBD: India Bank Acquisition Will Drive Shares Higher Over Time

Analysts have nudged their price target for Emirates NBD Bank PJSC slightly higher to AED 30.92 from AED 30.70, reflecting modest upgrades to revenue growth expectations, profitability, and the bank's future valuation multiple. What's in the News Emirates NBD is in advanced talks to acquire a controlling stake in India's RBL Bank for over $1 billion, potentially securing around 51% ownership if follow on open offers proceed as indicated (Key Developments).
ADPORTS
د.إ4.81
Abu Dhabi Ports Company PJSC
7D
1.3%
1Y
-5.5%
TAQA
د.إ3.53
Abu Dhabi National Energy Company PJSC
7D
0.3%
1Y
0.6%
EMAAR
د.إ13.85
Emaar Properties PJSC
7D
-3.1%
1Y
7.8%

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Dec 08
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TALABAT
د.إ0.94
Talabat Holding
7D
1.5%
1Y
-33.2%
DEWA
د.إ2.76
Dubai Electricity and Water Authority (PJSC)
7D
-2.8%
1Y
-2.8%

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Nov 15
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ADNOCGAS
د.إ3.47
ADNOC Gas
7D
-2.5%
1Y
-1.1%
EMAARDEV
د.إ14.90
Emaar Development PJSC
7D
-4.2%
1Y
8.8%
TECOM
د.إ3.36
TECOM Group PJSC
7D
1.8%
1Y
6.7%

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Nov 06
TECOM Group PJSC's (DFM:TECOM) Profits May Not Reveal Underlying Issues
MASQ
د.إ260.00
Mashreqbank PSC
7D
2.0%
1Y
19.3%
RAKBANK
د.إ8.42
National Bank of Ras Al-Khaimah (P.S.C.)
7D
9.2%
1Y
39.2%
FAB
د.إ17.38
First Abu Dhabi Bank P.J.S.C
7D
-1.3%
1Y
26.5%