Emaar Development PJSC

DFM:EMAARDEV Stock Report

Market Cap: د.إ55.8b

Emaar Development PJSC Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: EMAARDEV (AED13.96) is trading below our estimate of future cash flow value (AED43.4)

Significantly Below Future Cash Flow Value: EMAARDEV is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for EMAARDEV. This is calculated by dividing EMAARDEV's market cap by their current earnings.
What is EMAARDEV's PE Ratio?
PE Ratio4.5x
Earningsد.إ12.32b
Market Capد.إ55.84b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for EMAARDEV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.3x
EMAAR Emaar Properties PJSC
5.3x2.70%د.إ100.2b
RAKPROP RAK Properties PJSC
7.6x17.79%د.إ2.8b
DEYAAR Deyaar Development PJSC
5.8x13.45%د.إ3.5b
ANAN Anan Investment Holding PJSC
70.5xn/aد.إ3.4b
EMAARDEV Emaar Development PJSC
4.5x11.36%د.إ55.8b

Price-To-Earnings vs Peers: EMAARDEV is good value based on its Price-To-Earnings Ratio (4.5x) compared to the peer average (22.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

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

55 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EMAARDEV 4.5xIndustry Avg. 13.6xNo. of Companies145PE01224364860+
55 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EMAARDEV is good value based on its Price-To-Earnings Ratio (4.5x) compared to the Asian Real Estate industry average (13.8x).

Price to Earnings Ratio vs Fair Ratio

What is EMAARDEV'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.

EMAARDEV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.5x
Fair PE Ratio7.7x

Price-To-Earnings vs Fair Ratio: EMAARDEV is good value based on its Price-To-Earnings Ratio (4.5x) compared to the estimated Fair Price-To-Earnings Ratio (7.7x).

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 EMAARDEV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentد.إ13.96
د.إ19.34
+38.52%
7.19%د.إ22.00د.إ17.40n/a8
May ’27د.إ14.74
د.إ19.30
+30.94%
7.87%د.إ22.00د.إ16.90n/a8
Apr ’27د.إ14.20
د.إ20.29
+42.88%
11.44%د.إ25.00د.إ16.90n/a9
Mar ’27د.إ19.35
د.إ21.04
+8.76%
10.55%د.إ25.00د.إ17.40n/a9
Feb ’27د.إ17.20
د.إ19.17
+11.43%
8.16%د.إ22.00د.إ16.30n/a9
Jan ’27د.إ15.15
د.إ17.92
+18.26%
7.56%د.إ20.40د.إ16.30n/a9
Dec ’26د.إ14.70
د.إ17.61
+19.77%
6.21%د.إ19.90د.إ16.30n/a8
Nov ’26د.إ14.90
د.إ17.36
+16.53%
6.05%د.إ19.20د.إ16.00n/a8
Oct ’26د.إ13.80
د.إ16.56
+19.98%
11.39%د.إ19.20د.إ12.32n/a9
Sep ’26د.إ14.20
د.إ16.42
+15.67%
10.86%د.إ19.20د.إ12.32n/a9
Aug ’26د.إ15.20
د.إ16.08
+5.79%
9.59%د.إ18.00د.إ12.32n/a9
Jul ’26د.إ13.50
د.إ15.44
+14.39%
12.79%د.إ18.00د.إ12.20n/a10
Jun ’26د.إ13.40
د.إ15.08
+12.55%
12.32%د.إ17.80د.إ12.20د.إ13.7210
May ’26د.إ13.20
د.إ14.77
+11.91%
10.88%د.إ17.00د.إ12.20د.إ14.7410
Apr ’26د.إ12.25
د.إ14.69
+19.96%
10.87%د.إ17.00د.إ12.20د.إ14.2011
Mar ’26د.إ12.90
د.إ14.69
+13.91%
10.87%د.إ17.00د.إ12.20د.إ19.3511
Feb ’26د.إ13.15
د.إ14.37
+9.31%
10.31%د.إ17.00د.إ12.20د.إ17.2011
Jan ’26د.إ13.70
د.إ12.94
-5.55%
16.01%د.إ17.00د.إ9.42د.إ15.1511
Dec ’25د.إ11.35
د.إ11.33
-0.15%
10.78%د.إ13.50د.إ9.42د.إ14.7010
Nov ’25د.إ9.54
د.إ11.25
+17.96%
10.80%د.إ13.50د.إ9.42د.إ14.9010
Oct ’25د.إ8.58
د.إ11.10
+29.41%
11.93%د.إ13.50د.إ9.42د.إ13.8010
Sep ’25د.إ8.41
د.إ10.22
+21.48%
6.45%د.إ11.30د.إ9.42د.إ14.208
Aug ’25د.إ8.51
د.إ10.14
+19.17%
6.54%د.إ11.30د.إ9.32د.إ15.208
Jul ’25د.إ8.00
د.إ9.96
+24.54%
8.73%د.إ11.30د.إ8.20د.إ13.5010
Jun ’25د.إ7.42
د.إ9.96
+34.27%
8.73%د.إ11.30د.إ8.20د.إ13.4010
د.إ19.34
Fair Value
27.8% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/05 14:10
End of Day Share Price 2026/06/05 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

Emaar Development PJSC is covered by 12 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Belhassen AchourAlphaMena
Kais KriaaAlphaMena
Mohamad HaidarArqaam Capital Research Offshore S.A.L.