Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Emirati (ADX) Market Analysis & Valuation

UpdatedMay 03, 2026
DataAggregated Company Financials
Companies153
  • 7D0.5%
  • 3M-7.5%
  • 1Y0.1%
  • YTD-5.7%

The Energy sector gained 8.2% while the market remained flat over the last week. As for the longer term, the market has also been flat over the past year. Earnings are forecast to grow by 5.7% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 03 May 2026د.إ3.7tد.إ1.2tد.إ266.5b11.1x13.8x3.1x
Tue, 31 Mar 2026د.إ3.6tد.إ1.2tد.إ267.7b10.3x13.3x3x
Thu, 26 Feb 2026د.إ4.1tد.إ1.2tد.إ266.6b11.5x15.2x3.4x
Sat, 24 Jan 2026د.إ4.0tد.إ1.1tد.إ255.5b12.1x15.5x3.5x
Mon, 22 Dec 2025د.إ3.9tد.إ1.1tد.إ255.2b11.7x15.2x3.4x
Wed, 19 Nov 2025د.إ3.8tد.إ1.1tد.إ254.8b11.6x15x3.3x
Fri, 17 Oct 2025د.إ3.9tد.إ1.1tد.إ241.1b12.5x16.3x3.6x
Sun, 14 Sep 2025د.إ3.9tد.إ1.1tد.إ240.2b12.6x16.2x3.6x
Tue, 12 Aug 2025د.إ4.0tد.إ1.1tد.إ243.3b13.4x16.5x3.7x
Thu, 10 Jul 2025د.إ3.9tد.إ1.0tد.إ240.2b13.1x16.3x3.8x
Sat, 07 Jun 2025د.إ3.8tد.إ1.0tد.إ240.3b12.6x15.9x3.7x
Mon, 05 May 2025د.إ3.8tد.إ1.0tد.إ245.5b12.7x15.7x3.8x
Wed, 02 Apr 2025د.إ3.7tد.إ1.0tد.إ238.0b13x15.5x3.7x
Fri, 28 Feb 2025د.إ3.7tد.إ978.8bد.إ234.0b13.2x15.9x3.8x
Sun, 26 Jan 2025د.إ3.7tد.إ936.0bد.إ237.6b13.4x15.7x4x
Tue, 24 Dec 2024د.إ3.6tد.إ928.2bد.إ235.9b12.9x15.5x3.9x
Thu, 21 Nov 2024د.إ3.5tد.إ894.6bد.إ231.6b12.9x15x3.9x
Sat, 19 Oct 2024د.إ3.5tد.إ847.5bد.إ229.1b13.3x15.1x4.1x
Mon, 16 Sep 2024د.إ3.4tد.إ849.5bد.إ229.1b13.5x14.9x4x
Wed, 14 Aug 2024د.إ3.3tد.إ828.9bد.إ227.9b13.1x14.6x4x
Fri, 12 Jul 2024د.إ3.3tد.إ787.6bد.إ216.3b13.3x15.4x4.2x
Sun, 09 Jun 2024د.إ3.2tد.إ781.8bد.إ214.9b13.2x15x4.1x
Tue, 07 May 2024د.إ3.3tد.إ764.8bد.إ225.0b13.9x14.6x4.3x
Thu, 04 Apr 2024د.إ3.4tد.إ738.0bد.إ221.3b14.3x15.3x4.6x
Sat, 02 Mar 2024د.إ3.4tد.إ740.3bد.إ220.8b15.3x15.3x4.6x
Mon, 29 Jan 2024د.إ3.4tد.إ657.9bد.إ189.4b15.7x18.1x5.2x
Wed, 27 Dec 2023د.إ3.4tد.إ653.9bد.إ188.1b15x18.1x5.2x
Fri, 24 Nov 2023د.إ3.4tد.إ650.0bد.إ187.3b15.5x17.9x5.2x
Sun, 22 Oct 2023د.إ3.2tد.إ627.6bد.إ190.3b14.3x17x5.2x
Tue, 19 Sep 2023د.إ3.5tد.إ616.4bد.إ187.5b15.7x18.6x5.7x
Thu, 17 Aug 2023د.إ3.5tد.إ616.4bد.إ187.4b14.7x18.6x5.7x
Sat, 15 Jul 2023د.إ3.4tد.إ601.8bد.إ182.5b16.2x18.7x5.7x
Mon, 12 Jun 2023د.إ3.3tد.إ664.3bد.إ195.5b15.4x16.7x4.9x
Wed, 10 May 2023د.إ3.3tد.إ656.4bد.إ184.0b15.8x18.2x5.1x
Price to Earnings Ratio

18.2x


Total Market Cap: د.إ3.3tTotal Earnings: د.إ184.0bTotal Revenue: د.إ656.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Emirati Market Price to Earnings3Y Average 16.1x202420252026
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 13.8x which is lower than its 3-year average PE of 16.1x.
Past Earnings Growth
  • The earnings for Emirian listed companies have grown 13% per year over the last three years.
  • Revenues for these companies have grown 22% 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 Market0.54%
Energy8.20%
Consumer Discretionary3.39%
Materials2.42%
Utilities0.82%
Tech0.44%
Industrials-0.31%
Financials-0.56%
Telecom-0.92%
Healthcare-1.79%
Consumer Staples-3.16%
Real Estate-3.39%
Sector PE
  • Investors favour the Utilities sector the most for future growth even though it's trading below its 3-year average PE ratio of 27.5x.
    • Analysts are expecting annual earnings growth of 5.0%, 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 21% over the next 5 years.
  • However this is lower than its past earnings growth rate of 27% per year.
  • In contrast, the Industrials sector is expected to see its earnings decline by 3.5% 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
ADNOCGAS ADNOC Gasد.إ3.356.7%
+د.إ16.1b		5.7%PE13.5xEnergy
ADNOCDRILL ADNOC Drilling Company P.J.S.Cد.إ5.8914.4%
+د.إ11.8b		17.8%PE17.7xEnergy
TAQA Abu Dhabi National Energy Company PJSCد.إ2.392.6%
+د.إ6.7b		-24.1%PE36.1xUtilities
ADCB Abu Dhabi Commercial Bank PJSCد.إ13.904.5%
+د.إ4.7b		18.0%PB1.3xFinancials
MASQ Mashreqbank PSCد.إ240.0010.7%
+د.إ4.6b		0%PB1.2xFinancials
See more

Market Insights

Header cover image
We’re starting to see the second-order impact of Strait of Hormuz’s extended closure on other industries and in Q1 2026 reports - and it’s far more than just fuel and gas.
Continue reading
China's next winners have been chosen

Latest News

EMAARDEV
د.إ14.74
Emaar Development PJSC
7D
-3.7%
1Y
9.6%
ADIB
د.إ20.84
Abu Dhabi Islamic Bank PJSC
7D
-7.5%
1Y
12.8%
EAND
د.إ18.80
Emirates Telecommunications Group Company PJSC
7D
-1.7%
1Y
7.9%
FERTIGLB
د.إ3.67
Fertiglobe
7D
12.9%
1Y
61.0%
EMAAR
د.إ11.80
Emaar Properties PJSC
7D
-4.8%
1Y
-11.9%
ADNOCDRILL
د.إ5.89
ADNOC Drilling Company P.J.S.C
7D
14.4%
1Y
17.8%
EMIRATESNBD
د.إ29.16
Emirates NBD Bank PJSC
7D
-3.4%
1Y
40.9%

EMIRATESNBD: Dividend Vote And Upcoming Meetings Will Support Future Upside Potential

Analysts have slightly reduced their price target for Emirates NBD Bank PJSC from AED 35.57 to AED 34.48, reflecting updated assumptions around revenue growth, profit margins, and a lower future P/E estimate. What's in the News A board meeting is scheduled for Apr 22, 2026 at 11:00 UTC to review and approve the previous board meeting minutes, the Emirates NBD Group consolidated financial statements for the quarter ended Mar 31, 2026 in English and Arabic, and other normal activities (Key Developments).
ALPHADHABI
د.إ7.51
Alpha Dhabi Holding PJSC
7D
2.5%
1Y
-34.6%
ALDAR
د.إ7.78
Aldar Properties PJSC
7D
-4.8%
1Y
-5.6%

ALDAR: Future Returns Will Rely On Expanding Value Housing And Retail Platform

Analysts have made only a very small adjustment to their price target on Aldar Properties PJSC, trimming it by about AED0.00 to reflect slightly higher discount rate assumptions and a modestly lower profit margin outlook, balanced by a higher future P/E estimate. What's in the News Aldar and the Department of Municipalities and Transport agreed to develop two integrated communities in Mohamed Bin Zayed City and Baniyas, targeting 9,000 value housing rental units with a gross development value of AED 2.8b as part of Abu Dhabi's Value Housing Programme (client announcement).
ADCB
د.إ13.90
Abu Dhabi Commercial Bank PJSC
7D
4.5%
1Y
18.0%
ADNOCGAS
د.إ3.35
ADNOC Gas
7D
6.7%
1Y
5.7%
DEWA
د.إ2.67
Dubai Electricity and Water Authority (PJSC)
7D
-2.2%
1Y
-0.4%
TAQA
د.إ2.39
Abu Dhabi National Energy Company PJSC
7D
2.6%
1Y
-24.1%

TAQA: Fair Outlook Will Rely On New Dividend Policy And Utilities Deals

Analysts have trimmed their price target on Abu Dhabi National Energy Company PJSC to AED 2.45 from AED 3.14, citing updated assumptions for revenue growth, profit margins, the discount rate and future P/E expectations. What's in the News A board meeting is scheduled for February 12, 2026 to approve audited financial results for the year ended December 31, 2025 and to call the Annual General Assembly for March 12, 2026, subject to regulator agreement (company announcement).
IHC
د.إ390.80
International Holding Company PJSC
7D
-0.3%
1Y
-2.9%
MASQ
د.إ240.00
Mashreqbank PSC
7D
10.7%
1Y
0%
ADNOCLS
د.إ5.85
ADNOC Logistics & Services
7D
9.8%
1Y
21.6%