Aldar Properties PJSC Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: ALDAR (AED7.53) is trading above our estimate of fair value (AED6.28)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ALDAR. This is calculated by dividing ALDAR's market cap by their current earnings.
What is ALDAR's PE Ratio?
PE Ratio	11.7x
Earnings	د.إ5.06b
Market Cap	د.إ59.21b

ALDAR 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/Revenue	3.3x
Enterprise Value/EBITDA	11.5x
PEG Ratio	0.9x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ALDAR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	6.9x
UPP Union Properties	1.8x	-50.6%	د.إ1.5b
EMAAR Emaar Properties PJSC	7x	3.6%	د.إ83.1b
EMAARDEV Emaar Development PJSC	6.3x	4.6%	د.إ45.0b
TECOM TECOM Group PJSC	12.5x	2.8%	د.إ15.7b
ALDAR Aldar Properties PJSC	11.7x	13.6%	د.إ59.2b

Price-To-Earnings vs Peers: ALDAR is expensive based on its Price-To-Earnings Ratio (11.7x) compared to the peer average (6.9x).

Price to Earnings Ratio vs Industry

How does ALDAR's PE Ratio compare vs other companies in the Asian Real Estate Industry?

48 Companies	Price / Earnings	Estimated Growth	Market Cap

48 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ALDAR is good value based on its Price-To-Earnings Ratio (11.7x) compared to the Asian Real Estate industry average (15.2x).

Price to Earnings Ratio vs Fair Ratio

What is ALDAR'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.

ALDAR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	11.7x
Fair PE Ratio	9.8x

Price-To-Earnings vs Fair Ratio: ALDAR is expensive based on its Price-To-Earnings Ratio (11.7x) compared to the estimated Fair Price-To-Earnings Ratio (9.8x).

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 ALDAR forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	د.إ7.53	د.إ7.99 +6.1%	6.8%	د.إ8.60	د.إ6.80	n/a	10
Nov ’25	د.إ7.67	د.إ7.93 +3.4%	6.7%	د.إ8.60	د.إ6.80	n/a	10
Oct ’25	د.إ7.54	د.إ7.79 +3.3%	6.7%	د.إ8.60	د.إ6.80	n/a	10
Sep ’25	د.إ7.34	د.إ7.71 +5.0%	5.8%	د.إ8.30	د.إ6.80	n/a	10
Aug ’25	د.إ7.19	د.إ7.14 -0.8%	7.4%	د.إ8.00	د.إ6.23	n/a	9
Jul ’25	د.إ6.24	د.إ6.53 +4.6%	8.2%	د.إ7.10	د.إ5.13	n/a	9
Jun ’25	د.إ5.50	د.إ6.49 +18.0%	8.6%	د.إ7.10	د.إ5.13	n/a	8
May ’25	د.إ5.57	د.إ6.38 +14.5%	8.8%	د.إ7.00	د.إ5.13	n/a	8
Apr ’25	د.إ5.55	د.إ6.32 +13.9%	8.3%	د.إ7.00	د.إ5.13	n/a	8
Mar ’25	د.إ5.51	د.إ6.41 +16.4%	9.6%	د.إ7.30	د.إ5.13	n/a	8
Feb ’25	د.إ5.04	د.إ6.16 +22.3%	6.1%	د.إ6.60	د.إ5.56	n/a	9
Jan ’25	د.إ5.35	د.إ6.20 +15.8%	6.7%	د.إ6.80	د.إ5.56	n/a	9
Dec ’24	د.إ5.67	د.إ6.20 +9.3%	6.7%	د.إ6.80	د.إ5.56	n/a	9
Nov ’24	د.إ5.44	د.إ6.21 +14.2%	6.5%	د.إ6.80	د.إ5.56	د.إ7.67	9
Oct ’24	د.إ5.76	د.إ6.11 +6.2%	6.8%	د.إ6.80	د.إ5.56	د.إ7.54	9
Sep ’24	د.إ5.32	د.إ6.11 +14.9%	6.8%	د.إ6.80	د.إ5.56	د.إ7.34	9
Aug ’24	د.إ5.23	د.إ5.91 +12.9%	7.9%	د.إ6.60	د.إ5.04	د.إ7.19	10
Jul ’24	د.إ5.09	د.إ5.84 +14.8%	8.3%	د.إ6.60	د.إ5.04	د.إ6.24	10
Jun ’24	د.إ5.10	د.إ5.84 +14.6%	8.3%	د.إ6.60	د.إ5.04	د.إ5.50	10
May ’24	د.إ5.24	د.إ5.71 +9.0%	7.8%	د.إ6.60	د.إ5.04	د.إ5.57	9
Apr ’24	د.إ4.65	د.إ5.64 +21.3%	6.8%	د.إ6.20	د.إ5.04	د.إ5.55	8
Mar ’24	د.إ4.67	د.إ5.64 +20.7%	6.9%	د.إ6.20	د.إ5.01	د.إ5.51	8
Feb ’24	د.إ4.36	د.إ5.58 +28.0%	9.4%	د.إ6.20	د.إ4.60	د.إ5.04	7
Jan ’24	د.إ4.43	د.إ5.58 +26.0%	9.4%	د.إ6.20	د.إ4.60	د.إ5.35	7
Dec ’23	د.إ4.75	د.إ5.68 +19.6%	10.1%	د.إ6.24	د.إ4.60	د.إ5.67	7
Nov ’23	د.إ4.28	د.إ5.75 +34.4%	8.5%	د.إ6.24	د.إ4.85	د.إ5.44	7

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