Emaar Development PJSC

DFM:EMAARDEV Stock Report

Market Cap: د.إ50.8b

Emaar Development PJSC Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: EMAARDEV (AED12.7) is trading below our estimate of fair value (AED42.02)

Significantly Below Fair Value: EMAARDEV is trading below fair 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 Ratio7.1x
Earningsد.إ7.14b
Market Capد.إ50.80b

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 Average10.7x
EMAAR Emaar Properties PJSC
9.1x7.5%د.إ108.7b
DEYAAR Deyaar Development PJSC
7.8x11.6%د.إ4.1b
RAKPROP RAK Properties PJSC
14.2xn/aد.إ3.1b
ALDAR Aldar Properties PJSC
11.8x13.6%د.إ59.8b
EMAARDEV Emaar Development PJSC
7.1x14.2%د.إ50.8b

Price-To-Earnings vs Peers: EMAARDEV is good value based on its Price-To-Earnings Ratio (7.1x) compared to the peer average (10.7x).

Price to Earnings Ratio vs Industry

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

49 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EMAARDEV 7.1xIndustry Avg. 15.1xNo. of Companies133PE01224364860+
49 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EMAARDEV is good value based on its Price-To-Earnings Ratio (7.1x) compared to the Asian Real Estate industry average (15.2x).

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 Ratio7.1x
Fair PE Ratio9.4x

Price-To-Earnings vs Fair Ratio: EMAARDEV is good value based on its Price-To-Earnings Ratio (7.1x) compared to the estimated Fair Price-To-Earnings Ratio (9.4x).

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.إ12.70
د.إ12.61
-0.7%
16.0%د.إ17.00د.إ9.42n/a11
Dec ’25د.إ11.35
د.إ11.33
-0.1%
10.8%د.إ13.50د.إ9.42n/a10
Nov ’25د.إ9.54
د.إ11.25
+18.0%
10.8%د.إ13.50د.إ9.42n/a10
Oct ’25د.إ8.58
د.إ11.10
+29.4%
11.9%د.إ13.50د.إ9.42n/a10
Sep ’25د.إ8.41
د.إ10.22
+21.5%
6.4%د.إ11.30د.إ9.42n/a8
Aug ’25د.إ8.51
د.إ10.14
+19.2%
6.5%د.إ11.30د.إ9.32n/a8
Jul ’25د.إ8.00
د.إ9.96
+24.5%
8.7%د.إ11.30د.إ8.20n/a10
Jun ’25د.إ7.42
د.إ9.96
+34.3%
8.7%د.إ11.30د.إ8.20n/a10
May ’25د.إ8.48
د.إ9.82
+15.8%
9.2%د.إ11.30د.إ8.20n/a11
Apr ’25د.إ8.54
د.إ9.53
+11.6%
9.3%د.إ11.00د.إ8.20n/a11
Mar ’25د.إ8.19
د.إ8.70
+6.3%
12.2%د.إ11.00د.إ7.02n/a11
Feb ’25د.إ6.95
د.إ8.50
+22.4%
12.5%د.إ11.00د.إ7.02n/a11
Jan ’25د.إ7.15
د.إ8.40
+17.4%
13.5%د.إ11.00د.إ7.02n/a11
Dec ’24د.إ6.82
د.إ8.42
+23.4%
14.1%د.إ11.00د.إ7.02د.إ11.3510
Nov ’24د.إ6.23
د.إ7.84
+25.8%
9.0%د.إ9.00د.إ7.02د.إ9.5410
Oct ’24د.إ7.00
د.إ7.56
+8.0%
9.4%د.إ9.00د.إ7.00د.إ8.589
Sep ’24د.إ6.54
د.إ7.32
+11.9%
12.8%د.إ9.00د.إ5.70د.إ8.419
Aug ’24د.إ6.45
د.إ7.10
+10.0%
13.9%د.إ9.00د.إ5.70د.إ8.5110
Jul ’24د.إ5.78
د.إ6.71
+16.0%
12.1%د.إ9.00د.إ5.70د.إ8.0011
Jun ’24د.إ5.24
د.إ6.67
+27.4%
12.2%د.إ9.00د.إ5.70د.إ7.4211
May ’24د.إ5.45
د.إ6.26
+14.9%
9.2%د.إ7.50د.إ5.50د.إ8.489
Apr ’24د.إ5.51
د.إ6.11
+10.9%
9.6%د.إ7.50د.إ5.50د.إ8.548
Mar ’24د.إ4.90
د.إ6.05
+23.5%
10.6%د.إ7.50د.إ5.31د.إ8.198
Feb ’24د.إ4.61
د.إ6.03
+30.8%
10.6%د.إ7.50د.إ5.31د.إ6.958
Jan ’24د.إ4.41
د.إ6.03
+36.7%
10.6%د.إ7.50د.إ5.31د.إ7.158
Dec ’23د.إ4.18
د.إ6.03
+44.2%
10.6%د.إ7.50د.إ5.31د.إ6.828

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 06:33
End of Day Share Price 2024/12/18 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

Emaar Development PJSC is covered by 17 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

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