Emirates NBD Bank PJSC

DFM:EMIRATESNBD Stock Report

Market Cap: د.إ128.9b

Emirates NBD Bank PJSC Valuation

Is EMIRATESNBD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of EMIRATESNBD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EMIRATESNBD (AED20.3) is trading above our estimate of fair value (AED13.04)

Significantly Below Fair Value: EMIRATESNBD is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EMIRATESNBD?

Other financial metrics that can be useful for relative valuation.

EMIRATESNBD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-1.4x

Price to Earnings Ratio vs Peers

How does EMIRATESNBD's PE Ratio compare to its peers?

The above table shows the PE ratio for EMIRATESNBD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.2x
FAB First Abu Dhabi Bank P.J.S.C
9.4x3.2%د.إ150.4b
ADCB Abu Dhabi Commercial Bank PJSC
7.6x3.4%د.إ63.1b
ADIB Abu Dhabi Islamic Bank PJSC
9x4.5%د.إ47.4b
DIB Dubai Islamic Bank P.J.S.C
6.9x-2.5%د.إ45.3b
EMIRATESNBD Emirates NBD Bank PJSC
5.7x-4.1%د.إ128.2b

Price-To-Earnings vs Peers: EMIRATESNBD is good value based on its Price-To-Earnings Ratio (5.7x) compared to the peer average (8.2x).

Price to Earnings Ratio vs Industry

How does EMIRATESNBD's PE Ratio compare vs other companies in the Asian Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-0.3%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-0.3%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: EMIRATESNBD is good value based on its Price-To-Earnings Ratio (5.7x) compared to the Asian Banks industry average (8.5x).

Price to Earnings Ratio vs Fair Ratio

What is EMIRATESNBD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EMIRATESNBD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.7x
Fair PE Ratio7.3x

Price-To-Earnings vs Fair Ratio: EMIRATESNBD is good value based on its Price-To-Earnings Ratio (5.7x) compared to the estimated Fair Price-To-Earnings Ratio (7.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EMIRATESNBD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentد.إ20.40
د.إ23.37
+14.5%
11.2%د.إ28.60د.إ19.50n/a15
Sep ’25د.إ19.70
د.إ23.37
+18.6%
11.2%د.إ28.60د.إ19.50n/a15
Aug ’25د.إ19.30
د.إ23.17
+20.0%
10.1%د.إ27.50د.إ19.50n/a15
Jul ’25د.إ16.40
د.إ22.53
+37.4%
10.2%د.إ27.50د.إ19.50n/a15
Jun ’25د.إ15.55
د.إ22.46
+44.4%
10.4%د.إ27.50د.إ19.50n/a15
May ’25د.إ16.90
د.إ22.32
+32.1%
10.8%د.إ27.50د.إ19.50n/a14
Apr ’25د.إ17.45
د.إ22.40
+28.4%
10.7%د.إ27.20د.إ19.50n/a14
Mar ’25د.إ17.25
د.إ21.82
+26.5%
11.1%د.إ27.20د.إ17.30n/a13
Feb ’25د.إ17.80
د.إ21.61
+21.4%
11.0%د.إ27.20د.إ17.30n/a13
Jan ’25د.إ17.30
د.إ21.02
+21.5%
9.9%د.إ24.60د.إ17.30n/a13
Dec ’24د.إ17.50
د.إ21.18
+21.0%
9.4%د.إ24.60د.إ17.30n/a13
Nov ’24د.إ17.25
د.إ20.73
+20.2%
10.7%د.إ24.60د.إ17.30n/a12
Oct ’24د.إ17.80
د.إ20.05
+12.6%
8.1%د.إ24.00د.إ18.10n/a10
Sep ’24د.إ16.70
د.إ19.55
+17.1%
10.9%د.إ24.00د.إ16.00د.إ19.7010
Aug ’24د.إ17.10
د.إ18.61
+8.8%
11.2%د.إ24.00د.إ16.00د.إ19.3012
Jul ’24د.إ14.85
د.إ17.09
+15.1%
13.9%د.إ19.70د.إ9.60د.إ16.4014
Jun ’24د.إ13.65
د.إ17.04
+24.8%
14.0%د.إ19.70د.إ9.60د.إ15.5514
May ’24د.إ13.95
د.إ16.68
+19.6%
13.6%د.إ19.00د.إ9.60د.إ16.9014
Apr ’24د.إ13.15
د.إ16.98
+29.2%
14.7%د.إ20.70د.إ9.60د.إ17.4513
Mar ’24د.إ13.60
د.إ16.87
+24.0%
15.2%د.إ20.70د.إ9.60د.إ17.2512
Feb ’24د.إ13.25
د.إ16.46
+24.2%
15.1%د.إ20.70د.إ9.60د.إ17.8012
Jan ’24د.إ13.00
د.إ16.51
+27.0%
15.1%د.إ20.80د.إ9.60د.إ17.3012
Dec ’23د.إ13.25
د.إ17.17
+29.6%
6.9%د.إ19.80د.إ15.00د.إ17.5011
Nov ’23د.إ13.25
د.إ17.09
+29.0%
5.5%د.إ19.60د.إ16.10د.إ17.2510
Oct ’23د.إ12.85
د.إ17.16
+33.6%
5.1%د.إ19.60د.إ16.10د.إ17.8011
Sep ’23د.إ13.05
د.إ17.05
+30.7%
5.9%د.إ19.60د.إ15.30د.إ16.7011

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y