Header cover image

Emirati (ADX) Market Analysis & Valuation

UpdatedSep 23, 2024
DataAggregated Company Financials
Companies146
  • 7D1.8%
  • 3M5.3%
  • 1Y-5.3%
  • YTD-2.2%

Over the last 7 days, the market has risen 1.8%, driven by gains in every sector, especially the Utilities sector. Longer term the market is actually down 5.3% over the past year. As for the next few years, earnings are expected to grow by 5.3% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sun, 04 Dec 2022د.إ3.2tد.إ545.2bد.إ152.4b13.5x20.8x5.8x
Tue, 01 Nov 2022د.إ2.9tد.إ519.3bد.إ133.8b13.7x21.8x5.6x
Thu, 29 Sep 2022د.إ2.7tد.إ509.2bد.إ129.9b14.1x20.9x5.3x
Sat, 27 Aug 2022د.إ2.6tد.إ508.3bد.إ130.3b15.2x20.1x5.2x
Mon, 25 Jul 2022د.إ2.5tد.إ481.3bد.إ115.8b15.4x21.5x5.2x
Wed, 22 Jun 2022د.إ2.5tد.إ475.7bد.إ114.2b15.4x21.5x5.2x
Fri, 20 May 2022د.إ2.4tد.إ455.5bد.إ109.4b15.5x22.2x5.3x
Sun, 17 Apr 2022د.إ2.5tد.إ419.9bد.إ97.1b16x25.2x5.8x
Tue, 15 Mar 2022د.إ2.2tد.إ376.0bد.إ89.3b15.2x24.6x5.9x
Thu, 10 Feb 2022د.إ2.1tد.إ364.5bد.إ85.1b15.2x24.4x5.7x
Sat, 08 Jan 2022د.إ2.0tد.إ342.1bد.إ76.0b14.7x26.2x5.8x
Mon, 06 Dec 2021د.إ2.0tد.إ342.0bد.إ76.0b14.2x26.6x5.9x
Wed, 03 Nov 2021د.إ1.8tد.إ326.3bد.إ70.5b18.2x25.5x5.5x
Fri, 01 Oct 2021د.إ1.7tد.إ312.4bد.إ63.1b14.2x27.3x5.5x
Price to Earnings Ratio

27.3x


Total Market Cap: د.إ1.7tTotal Earnings: د.إ63.1bTotal Revenue: د.إ312.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Emirati Market Price to Earnings3Y Average 19.8x202220232024
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 15.2x which is lower than its 3-year average PE of 19.8x.
Past Earnings Growth
  • The earnings for Emirian listed companies have grown 54% per year over the last three years.
  • Revenues for these companies have grown 40% 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 Market1.76%
Utilities6.73%
Real Estate4.23%
Healthcare3.53%
Telecom3.20%
Consumer Staples2.80%
Materials2.31%
Tech1.89%
Energy1.66%
Financials0.31%
Industrials0.27%
Consumer Discretionary0.26%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 35.5x.
    • Analysts expect its future annual earnings growth (29.4%) to be largely in line with prior year's earnings growth.
    • The market's confidence could indicate that the market believes that analysts are underestimating future growth.
  • The Consumer Staples sector is the least preferred by investors for future growth, which is trading below its 3-year average of 31.8x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 29% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Financials 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
TAQA Abu Dhabi National Energy Company PJSCد.إ2.822.2%
+د.إ6.7b
-21.4%PE42.6xUtilities
DEWA Dubai Electricity and Water Authority (PJSC)د.إ2.494.2%
+د.إ5.0b
-3.1%PE16.5xUtilities
EMIRATESNBD Emirates NBD Bank PJSCد.إ20.302.8%
+د.إ3.5b
11.5%PB1.1xFinancials
ALDAR Aldar Properties PJSCد.إ7.825.7%
+د.إ3.3b
32.5%PE12.9xReal Estate
ADNOCGAS ADNOC Gasد.إ3.141.0%
+د.إ2.3b
-9.2%PE13.6xEnergy
See more
Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.

Market Insights

Last week, we explored the idea of the US Exceptionalism premium and tried to cover whether or not there was justification for US stocks trading at traditionally higher valuations compared to stocks in other markets...

Latest News

ASM

د.إ3.68

Al Seer Marine Supplies and Equipment Company PJSC

7D

-8.0%

1Y

-56.4%

MODON

د.إ3.29

Modon Holding PSC

7D

2.8%

1Y

-11.1%

ALDAR

د.إ7.82

Aldar Properties PJSC

7D

5.7%

1Y

32.5%

FAB

د.إ13.60

First Abu Dhabi Bank P.J.S.C

7D

-1.3%

1Y

-0.1%

EMIRATESNBD

د.إ20.30

Emirates NBD Bank PJSC

7D

2.8%

1Y

11.5%

ADNOCDRILL

د.إ4.73

ADNOC Drilling Company P.J.S.C

7D

2.8%

1Y

18.3%

ALPHADHABI

د.إ11.76

Alpha Dhabi Holding PJSC

7D

-1.0%

1Y

-41.9%

ADNOCGAS

د.إ3.14

ADNOC Gas

7D

1.0%

1Y

-9.2%

PHX

د.إ1.52

Phoenix Group

7D

-6.2%

1Y

n/a

ADCB

د.إ8.61

Abu Dhabi Commercial Bank PJSC

7D

-1.0%

1Y

-1.1%