Announcement • Apr 23
Dubai Financial Market P.J.S.C. to Report Q1, 2026 Results on Apr 30, 2026 Dubai Financial Market P.J.S.C. announced that they will report Q1, 2026 results on Apr 30, 2026 Upcoming Dividend • Mar 27
Upcoming dividend of د.إ0.065 per share Eligible shareholders must have bought the stock before 03 April 2026. Payment date: 04 May 2026. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Emirian dividend payers (7.1%). In line with average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to د.إ1.34, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Capital Markets industry in Asia. Total returns to shareholders of 6.4% over the past three years. Declared Dividend • Mar 05
Dividend increased to د.إ0.065 Dividend of د.إ0.065 is 103% higher than last year. Ex-date: 3rd April 2026 Payment date: 4th May 2026 Dividend yield will be 4.4%, which is higher than the industry average of 2.6%. Payout Ratios Payout ratio: 27%. Cash payout ratio: 37%. Announcement • Mar 04
Dubai Financial Market P.J.S.C., Annual General Meeting, Mar 25, 2026 Dubai Financial Market P.J.S.C., Annual General Meeting, Mar 25, 2026, at 15:00 Arabian Standard Time. Location: dubai United Arab Emirates Major Estimate Revision • Feb 04
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from د.إ527.6m to د.إ557.0m. EPS estimate increased from د.إ0.063 to د.إ0.072 per share. Net income forecast to shrink 40% next year vs 13% growth forecast for Capital Markets industry in United Arab Emirates . Consensus price target broadly unchanged at د.إ1.83. Share price fell 2.9% to د.إ1.67 over the past week. New Risk • Jan 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 78% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.4% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Jan 29
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: د.إ0.12 (up from د.إ0.047 in FY 2024). Revenue: د.إ1.28b (up 102% from FY 2024). Net income: د.إ965.8m (up 156% from FY 2024). Profit margin: 76% (up from 60% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) exceeded analyst estimates by 13%. Revenue is expected to decline by 46% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Asia are expected to grow by 4.5%. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 06
Consensus revenue estimates increase by 14% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from د.إ489.0m to د.إ556.5m. EPS estimate increased from د.إ0.09 to د.إ0.123 per share. Net income forecast to shrink 40% next year vs 12% growth forecast for Capital Markets industry in United Arab Emirates . Consensus price target broadly unchanged at د.إ1.78. Share price was steady at د.إ1.60 over the past week. New Risk • Nov 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 77% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: د.إ0.017 (vs د.إ0.012 in 3Q 2024) Third quarter 2025 results: EPS: د.إ0.017 (up from د.إ0.012 in 3Q 2024). Revenue: د.إ204.5m (up 32% from 3Q 2024). Net income: د.إ136.3m (up 45% from 3Q 2024). Profit margin: 67% (up from 61% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 32% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Asia are expected to grow by 5.0%. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Oct 23
Dubai Financial Market P.J.S.C. to Report Q3, 2025 Results on Oct 30, 2025 Dubai Financial Market P.J.S.C. announced that they will report Q3, 2025 results at 9:30 AM, Arabian Standard Time on Oct 30, 2025 Announcement • Oct 21
Dubai Refreshment (P.J.S.C.) to Report Q3, 2025 Results on Oct 29, 2025 Dubai Refreshment (P.J.S.C.) announced that they will report Q3, 2025 results at 9:30 AM, Arabian Standard Time on Oct 29, 2025 Price Target Changed • Aug 16
Price target increased by 9.5% to د.إ1.72 Up from د.إ1.57, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of د.إ1.67. Stock is up 33% over the past year. The company is forecast to post earnings per share of د.إ0.052 for next year compared to د.إ0.047 last year. New Risk • Aug 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.2% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Major Estimate Revision • Aug 05
Consensus revenue estimates increase by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from د.إ430.6m to د.إ492.0m. EPS estimate unchanged from د.إ0.052 at last update. Capital Markets industry in United Arab Emirates expected to see average net income growth of 15% next year. Consensus price target up from د.إ1.57 to د.إ1.63. Share price fell 2.2% to د.إ1.75 over the past week. Announcement • Jul 29
Dubai Financial Market P.J.S.C. to Report Q2, 2025 Results on Jul 31, 2025 Dubai Financial Market P.J.S.C. announced that they will report Q2, 2025 results on Jul 31, 2025 Major Estimate Revision • May 21
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.إ389.0m to د.إ420.0m. EPS estimate increased from د.إ0.045 to د.إ0.05 per share. Net income forecast to grow 24% next year vs 12% growth forecast for Capital Markets industry in United Arab Emirates. Consensus price target up from د.إ1.43 to د.إ1.50. Share price was steady at د.إ1.51 over the past week. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: د.إ0.016 (vs د.إ0.011 in 1Q 2024) First quarter 2025 results: EPS: د.إ0.016 (up from د.إ0.011 in 1Q 2024). Revenue: د.إ186.5m (up 26% from 1Q 2024). Net income: د.إ127.0m (up 42% from 1Q 2024). Profit margin: 68% (up from 61% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 17% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Asia are expected to grow by 6.2%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Apr 25
Dubai Financial Market P.J.S.C. to Report Q1, 2025 Results on May 01, 2025 Dubai Financial Market P.J.S.C. announced that they will report Q1, 2025 results on May 01, 2025 Declared Dividend • Mar 19
Dividend of د.إ0.032 announced Shareholders will receive a dividend of د.إ0.032. Ex-date: 16th April 2025 Payment date: 1st January 1970 Dividend yield will be 2.4%, which is lower than the industry average of 2.6%. Payout Ratios Payout ratio: 67%. Cash payout ratio: 67%. Announcement • Mar 18
Dubai Financial Market P.J.S.C., Annual General Meeting, Apr 07, 2025 Dubai Financial Market P.J.S.C., Annual General Meeting, Apr 07, 2025, at 15:00 Arabian Standard Time. Reported Earnings • Feb 01
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: د.إ0.047 (up from د.إ0.041 in FY 2023). Revenue: د.إ632.3m (up 16% from FY 2023). Net income: د.إ376.7m (up 14% from FY 2023). Profit margin: 60% (in line with FY 2023). Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is expected to decline by 26% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Asia are expected to grow by 8.0%. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Jan 27
Dubai Financial Market P.J.S.C. to Report Fiscal Year 2024 Results on Jan 30, 2025 Dubai Financial Market P.J.S.C. announced that they will report fiscal year 2024 results on Jan 30, 2025 Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: د.إ0.012 (vs د.إ0.009 in 3Q 2023) Third quarter 2024 results: EPS: د.إ0.012 (up from د.إ0.009 in 3Q 2023). Revenue: د.إ154.6m (up 12% from 3Q 2023). Net income: د.إ94.1m (up 27% from 3Q 2023). Profit margin: 61% (up from 54% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is expected to decline by 12% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Asia are expected to grow by 7.9%. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Oct 29
Dubai Financial Market P.J.S.C. to Report Nine Months, 2024 Results on Oct 31, 2024 Dubai Financial Market P.J.S.C. announced that they will report nine months, 2024 results on Oct 31, 2024 Major Estimate Revision • Aug 08
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from د.إ382.0m to د.إ342.0m. EPS estimate unchanged from د.إ0.04 per share at last update. Capital Markets industry in United Arab Emirates expected to see average net income growth of 18% next year. Consensus price target down from د.إ1.42 to د.إ1.38. Share price fell 3.8% to د.إ1.25 over the past week. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: د.إ0.011 (vs د.إ0.01 in 2Q 2023) Second quarter 2024 results: EPS: د.إ0.011 (up from د.إ0.01 in 2Q 2023). Revenue: د.إ157.6m (up 23% from 2Q 2023). Net income: د.إ91.8m (up 20% from 2Q 2023). Profit margin: 58% (down from 60% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Asia are expected to grow by 7.3%. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Jul 23
Dubai Financial Market P.J.S.C. to Report First Half, 2024 Results on Jul 29, 2024 Dubai Financial Market P.J.S.C. announced that they will report first half, 2024 results on Jul 29, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: د.إ0.011 (vs د.إ0.004 in 1Q 2023) First quarter 2024 results: EPS: د.إ0.011 (up from د.إ0.004 in 1Q 2023). Revenue: د.إ148.1m (up 64% from 1Q 2023). Net income: د.إ89.6m (up 152% from 1Q 2023). Profit margin: 61% (up from 40% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Asia are expected to grow by 8.2%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
Dubai Financial Market P.J.S.C. to Report Q1, 2024 Results on Apr 24, 2024 Dubai Financial Market P.J.S.C. announced that they will report Q1, 2024 results on Apr 24, 2024 Announcement • Mar 05
Dubai Financial Market P.J.S.C., Annual General Meeting, Mar 26, 2024 Dubai Financial Market P.J.S.C., Annual General Meeting, Mar 26, 2024, at 11:00 Coordinated Universal Time. Location: Trading Hall, Dubai Financial Market, Dubai World Trade Center Dubai United Arab Emirates Agenda: To hear and approve the Board of Director's Report activity on the Company's activity and its financial position for the fiscal year ended on 31/12/2023; to hear and approve the Auditor's Report for the fiscal year ended on 31/12/2023; to hear and approve Fatwa and Sharia Supervisory Board's Report for the fiscal year ended on 31/12/2023; to discuss and approve the Company's Balance Sheet and Profit & Loss Account for the fiscal year ended on 31/12/2023; to consider the Board of Directors' proposal concerning distribution of cash dividends of 3.5% of the share capital equivalent to 3.5 fils per share, for the fiscal year ended on 31/12/2023; and to consider other business matters. Major Estimate Revision • Feb 06
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from د.إ358.0m to د.إ366.0m. EPS estimate increased from د.إ0.035 to د.إ0.04 per share. Net income forecast to grow 7.5% next year vs 19% growth forecast for Capital Markets industry in United Arab Emirates. Consensus price target broadly unchanged at د.إ1.45. Share price fell 2.2% to د.إ1.33 over the past week. Reported Earnings • Jan 31
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: د.إ0.041 (up from د.إ0.018 in FY 2022). Revenue: د.إ547.4m (up 54% from FY 2022). Net income: د.إ329.4m (up 124% from FY 2022). Profit margin: 60% (up from 42% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is expected to decline by 16% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Asia are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jan 27
Dubai Financial Market P.J.S.C. to Report Fiscal Year 2023 Results on Jan 30, 2024 Dubai Financial Market P.J.S.C. announced that they will report fiscal year 2023 results on Jan 30, 2024 Major Estimate Revision • Nov 08
Consensus revenue estimates increase by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from د.إ273.5m to د.إ301.0m. EPS estimate unchanged from د.إ0.03 at last update. Capital Markets industry in United Arab Emirates expected to see average net income growth of 20% next year. Consensus price target broadly unchanged at د.إ1.44. Share price rose 4.6% to د.إ1.37 over the past week. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: د.إ0.009 (vs د.إ0.003 in 3Q 2022) Third quarter 2023 results: EPS: د.إ0.009 (up from د.إ0.003 in 3Q 2022). Revenue: د.إ137.9m (up 85% from 3Q 2022). Net income: د.إ74.1m (up 189% from 3Q 2022). Profit margin: 54% (up from 34% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.1% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in Asia are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 17% per year. Announcement • Oct 26
Dubai Financial Market P.J.S.C. to Report Q3, 2023 Results on Oct 30, 2023 Dubai Financial Market P.J.S.C. announced that they will report Q3, 2023 results on Oct 30, 2023 Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: د.إ0.009 (vs د.إ0.004 in 2Q 2022) Second quarter 2023 results: EPS: د.إ0.009 (up from د.إ0.004 in 2Q 2022). Revenue: د.إ128.0m (up 49% from 2Q 2022). Net income: د.إ76.6m (up 113% from 2Q 2022). Profit margin: 60% (up from 42% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 9.9% growth forecast for the Capital Markets industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jun 03
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from د.إ287.0m to د.إ258.0m. EPS estimate unchanged from د.إ0.025 per share at last update. Capital Markets industry in United Arab Emirates expected to see average net income growth of 23% next year. Consensus price target broadly unchanged at د.إ1.44. Share price was steady at د.إ1.42 over the past week. Reported Earnings • Apr 29
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: د.إ0.004 (up from د.إ0.003 in 1Q 2022). Revenue: د.إ90.1m (up 13% from 1Q 2022). Net income: د.إ35.6m (up 30% from 1Q 2022). Profit margin: 40% (up from 35% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 33%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Capital Markets industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 02
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: د.إ0.018 (up from د.إ0.013 in FY 2021). Revenue: د.إ354.6m (up 19% from FY 2021). Net income: د.إ147.1m (up 42% from FY 2021). Profit margin: 42% (up from 35% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is expected to decline by 1.6% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in Asia are expected to grow by 14%. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 5 highly experienced directors. Independent Non-Executive Vice Chairman Rashid Al Shamsi was the last director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: د.إ0.003 (vs د.إ0 in 3Q 2021) Third quarter 2022 results: EPS: د.إ0.003 (up from د.إ0 in 3Q 2021). Revenue: د.إ74.8m (up 59% from 3Q 2021). Net income: د.إ25.6m (up د.إ26.3m from 3Q 2021). Profit margin: 34% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Capital Markets industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Oct 25
Dubai Financial Market P.J.S.C. has filed an IPO. Dubai Financial Market P.J.S.C. has filed an IPO.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 100,000,000
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 900,000,000
Transaction Features: Regulation S Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: د.إ0.005 (vs د.إ0.002 in 2Q 2021) Second quarter 2022 results: EPS: د.إ0.005 (up from د.إ0.002 in 2Q 2021). Revenue: د.إ86.0m (up 33% from 2Q 2021). Net income: د.إ35.9m (up 134% from 2Q 2021). Profit margin: 42% (up from 24% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • May 01
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: د.إ0.003 (vs د.إ0.003 in 1Q 2021). Revenue: د.إ79.4m (up 7.2% from 1Q 2021). Net income: د.إ27.5m (up 17% from 1Q 2021). Profit margin: 35% (up from 32% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 52% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target increased to د.إ1.90 Up from د.إ1.48, the current price target is provided by 1 analyst. New target price is 28% below last closing price of د.إ2.64. Stock is up 144% over the past year. The company is forecast to post earnings per share of د.إ0.035 for next year compared to د.إ0.013 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 5 highly experienced directors. Independent Non-Executive Vice Chairman Rashid Al Shamsi was the last director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Price Target Changed • Apr 15
Price target increased to د.إ1.90 Up from د.إ1.48, the current price target is an average from 2 analysts. New target price is 27% below last closing price of د.إ2.59. Stock is up 144% over the past year. The company is forecast to post earnings per share of د.إ0.03 for next year compared to د.إ0.013 last year. Reported Earnings • Feb 02
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: د.إ0.013 (down from د.إ0.017 in FY 2020). Revenue: د.إ298.1m (down 15% from FY 2020). Net income: د.إ103.8m (down 25% from FY 2020). Profit margin: 35% (down from 39% in FY 2020). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the next year, revenue is expected to shrink by 18% compared to a 12% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Price Target Changed • Nov 05
Price target increased to د.إ1.23 Up from د.إ0.83, the current price target is provided by 1 analyst. New target price is 23% below last closing price of د.إ1.59. Stock is up 96% over the past year. The company is forecast to post earnings per share of د.إ0.01 for next year compared to د.إ0.017 last year. Reported Earnings • Aug 02
Second quarter 2021 earnings released: EPS د.إ0.002 (vs د.إ0.006 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: د.إ64.6m (down 37% from 2Q 2020). Net income: د.إ15.3m (down 65% from 2Q 2020). Profit margin: 24% (down from 43% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Price Target Changed • Jul 14
Price target decreased to د.إ0.72 Down from د.إ0.83, the current price target is provided by 1 analyst. New target price is 34% below last closing price of د.إ1.09. Stock is up 37% over the past year. Reported Earnings • May 05
First quarter 2021 earnings released: EPS د.إ0.003 (vs د.إ0.004 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: د.إ74.1m (down 19% from 1Q 2020). Net income: د.إ23.4m (down 33% from 1Q 2020). Profit margin: 32% (down from 38% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Feb 04
Full year 2020 earnings released: EPS د.إ0.017 (vs د.إ0.015 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: د.إ351.8m (up 7.6% from FY 2019). Net income: د.إ137.9m (up 14% from FY 2019). Profit margin: 39% (up from 37% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 04
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 15%. Is New 90 Day High Low • Jan 20
New 90-day high: د.إ1.26 The company is up 54% from its price of د.إ0.82 on 22 October 2020. The Emirian market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 19% share price gain to د.إ1.11, the stock is trading at a trailing P/E ratio of 61.1x, up from the previous P/E ratio of 51.2x. This compares to an average P/E of 17x in the Capital Markets industry in Asia. Total returns to shareholders over the past three years are 7.1%. Is New 90 Day High Low • Jan 04
New 90-day high: د.إ0.95 The company is up 18% from its price of د.إ0.81 on 07 October 2020. The Emirian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: د.إ0.92 The company is up 9.0% from its price of د.إ0.84 on 08 September 2020. The Emirian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Nov 03
New 90-day low: د.إ0.81 The company is down 2.0% from its price of د.إ0.82 on 05 August 2020. The Emirian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Analyst Estimate Surprise Post Earnings • Oct 29
Annual earnings released: Earnings beat expectations Earnings per share (EPS) exceeded analyst estimates at د.إ0.005 Revenue is expected to shrink by 25% over the next year, compared to a 17% growth forecast for the Capital Markets industry in United Arab Emirates. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of د.إ145.2m, up 24% from the prior year. Total revenue was د.إ361.3m over the last 12 months, up 11% from the prior year. 
