Mashreqbank PSC

DFM:MASQ Stock Report

Market Cap: د.إ43.3b

Mashreqbank PSC Valuation

Is MASQ 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 MASQ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MASQ (AED216) is trading above our estimate of fair value (AED106.87)

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

Key Valuation Metric

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

Key metric: As MASQ is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MASQ. This is calculated by dividing MASQ's market cap by their current earnings.
What is MASQ's PE Ratio?
PE Ratio5x
Earningsد.إ8.60b
Market Capد.إ43.33b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MASQ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.1x
EIB Emirates Islamic Bank PJSC
15.1xn/aد.إ43.4b
ADIB Abu Dhabi Islamic Bank PJSC
9.2x4.3%د.إ50.6b
DIB Dubai Islamic Bank P.J.S.C
7.4x-2.8%د.إ51.4b
ADCB Abu Dhabi Commercial Bank PJSC
8.6x3.1%د.إ75.4b
MASQ Mashreqbank PSC
5x-7.8%د.إ43.3b

Price-To-Earnings vs Peers: MASQ is good value based on its Price-To-Earnings Ratio (5x) compared to the peer average (10.1x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MASQ 5.0xIndustry Avg. 9.0xNo. of Companies79PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MASQ is good value based on its Price-To-Earnings Ratio (5x) compared to the Asian Banks industry average (9x).

Price to Earnings Ratio vs Fair Ratio

What is MASQ'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.

MASQ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5x
Fair PE Ratio6.5x

Price-To-Earnings vs Fair Ratio: MASQ is good value based on its Price-To-Earnings Ratio (5x) compared to the estimated Fair Price-To-Earnings Ratio (6.5x).

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 MASQ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentد.إ216.00
د.إ239.40
+10.8%
1.8%د.إ243.80د.إ235.00n/a2
Dec ’25د.إ222.15
د.إ239.40
+7.8%
1.8%د.إ243.80د.إ235.00n/a2
Nov ’25د.إ240.00
د.إ239.40
-0.2%
1.8%د.إ243.80د.إ235.00n/a2
Oct ’25د.إ242.80
د.إ231.40
-4.7%
5.4%د.إ243.80د.إ219.00n/a2
Sep ’25د.إ217.00
د.إ231.40
+6.6%
5.4%د.إ243.80د.إ219.00n/a2
Aug ’25د.إ219.95
د.إ231.40
+5.2%
5.4%د.إ243.80د.إ219.00n/a2
Jul ’25د.إ199.00
د.إ219.40
+10.3%
11.1%د.إ243.80د.إ195.00n/a2
Jun ’25د.إ197.00
د.إ219.40
+11.4%
11.1%د.إ243.80د.إ195.00n/a2
May ’25د.إ184.00
د.إ219.40
+19.2%
11.1%د.إ243.80د.إ195.00n/a2
Apr ’25د.إ173.00
د.إ219.40
+26.8%
11.1%د.إ243.80د.إ195.00n/a2
Mar ’25د.إ206.00
د.إ201.55
-2.2%
3.2%د.إ208.10د.إ195.00n/a2
Feb ’25د.إ210.00
د.إ194.05
-7.6%
7.2%د.إ208.10د.إ180.00n/a2
Jan ’25د.إ152.00
د.إ194.05
+27.7%
7.2%د.إ208.10د.إ180.00n/a2
Dec ’24د.إ153.10
د.إ194.05
+26.7%
7.2%د.إ208.10د.إ180.00د.إ222.152
Nov ’24د.إ159.00
د.إ183.70
+15.5%
2.0%د.إ187.40د.إ180.00د.إ240.002
Oct ’24د.إ151.00
د.إ172.60
+14.3%
7.3%د.إ185.20د.إ160.00د.إ242.802
Sep ’24د.إ150.00
د.إ172.60
+15.1%
7.3%د.إ185.20د.إ160.00د.إ217.002
Aug ’24د.إ144.00
د.إ167.55
+16.4%
4.5%د.إ175.10د.إ160.00د.إ219.952
Jul ’24n/a
د.إ160.05
0%
9.4%د.إ175.10د.إ145.00د.إ199.002
Jun ’24د.إ125.00
د.إ160.05
+28.0%
9.4%د.إ175.10د.إ145.00د.إ197.002
May ’24د.إ120.00
د.إ153.09
+27.6%
5.3%د.إ161.18د.إ145.00د.إ184.002
Apr ’24د.إ120.00
د.إ139.80
+16.5%
3.7%د.إ145.00د.إ134.60د.إ173.002
Mar ’24د.إ132.00
د.إ139.80
+5.9%
3.7%د.إ145.00د.إ134.60د.إ206.002
Feb ’24د.إ103.00
د.إ119.80
+16.3%
12.4%د.إ134.60د.إ105.00د.إ210.002
Jan ’24n/a
د.إ119.80
0%
12.4%د.إ134.60د.إ105.00د.إ152.002
Dec ’23د.إ97.50
د.إ118.60
+21.6%
11.5%د.إ132.20د.إ105.00د.إ153.102

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/31 12:06
End of Day Share Price 2024/12/31 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Mashreqbank PSC is covered by 6 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jaap MeijerArqaam Capital Research Offshore S.A.L.
Radwa El-SwaifyBeltone Financial
Sanyalaksna ManibhanduFAB Securities