EMIRATES NBD BANK |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 15.7 AED | -1.57% |
|
-5.71% | -9.25% |
| May. 24 | Moody's Revises Outlook on Emirates NBD Bank Ratings to Positive on Strong Profitability | MT |
| May. 02 | Dubai Financial Market Launches New Digital Investment App | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 82,115 | 65,060 | 85,589 | 82,115 | 109,276 | 99,170 | - | - |
| Enterprise Value (EV) 1 | 82,115 | 65,060 | 85,589 | 82,115 | 109,276 | 99,170 | 99,170 | 99,170 |
| P/E ratio | 7.74 x | 10.3 x | 9.82 x | 6.57 x | 5.21 x | 4.75 x | 5.23 x | 5.02 x |
| Yield | 3.08% | 3.88% | 3.69% | 4.62% | 6.94% | 6.85% | 6.77% | 7.27% |
| Capitalization / Revenue | 3.66 x | 2.8 x | 3.59 x | 2.81 x | 2.9 x | 2.32 x | 2.31 x | 2.23 x |
| EV / Revenue | 3.66 x | 2.8 x | 3.59 x | 2.81 x | 2.9 x | 2.32 x | 2.31 x | 2.23 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 1.14 x | 0.88 x | 1.02 x | 0.88 x | 1.08 x | 0.87 x | 0.78 x | 0.71 x |
| Nbr of stocks (in thousands) | 6,316,552 | 6,316,552 | 6,316,552 | 6,316,552 | 6,316,552 | 6,316,552 | - | - |
| Reference price 2 | 13.00 | 10.30 | 13.55 | 13.00 | 17.30 | 15.70 | 15.70 | 15.70 |
| Announcement Date | 1/27/20 | 1/27/21 | 1/26/22 | 1/26/23 | 1/25/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 22,419 | 23,211 | 23,822 | 29,187 | 37,740 | 42,664 | 42,838 | 44,521 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 15,211 | 15,354 | 15,830 | 23,252 | 31,332 | 29,858 | 29,278 | 29,480 |
| Operating Margin | 67.85% | 66.15% | 66.45% | 79.67% | 83.02% | 69.98% | 68.35% | 66.22% |
| Earnings before Tax (EBT) 1 | 14,894 | 7,430 | 9,910 | 18,068 | 23,655 | 26,172 | 23,829 | 23,934 |
| Net income 1 | 14,503 | 6,960 | 9,298 | 13,003 | 21,480 | 21,220 | 18,988 | 19,672 |
| Net margin | 64.69% | 29.98% | 39.03% | 44.55% | 56.92% | 49.74% | 44.33% | 44.18% |
| EPS 2 | 1.680 | 1.000 | 1.380 | 1.980 | 3.320 | 3.307 | 3.002 | 3.130 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.4000 | 0.4000 | 0.5000 | 0.6000 | 1.200 | 1.075 | 1.063 | 1.141 |
| Announcement Date | 1/27/20 | 1/27/21 | 1/26/22 | 1/26/23 | 1/25/24 | - | - | - |
1AED in Million2AED
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 12,628 | - | 6,500 | 6,374 | 7,790 | 7,574 | 8,785 | 10,463 | 10,824 | 11,432 | 8,936 | 10,662 | 10,660 | 11,118 | 11,255 | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 8,629 | - | 4,200 | 4,410 | 5,713 | 6,161 | 6,957 | 7,821 | 8,006 | 8,536 | 6,969 | 7,592 | - | - | - | - | - |
| Operating Margin | 68.33% | - | 64.62% | 69.18% | 73.33% | 81.34% | 79.19% | 74.75% | 73.97% | 74.67% | 77.98% | 71.21% | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | 2,100 | 3,005 | 5,252 | - | 5,031 | 6,518 | 7,528 | 7,983 | 3,956 | 7,577 | - | - | - | - | - |
| Net income | 4,088 | 4,443 | 2,012 | 2,741 | 3,500 | 3,776 | 3,929 | 6,012 | 6,226 | 5,221 | 4,021 | 6,702 | - | - | - | - | - |
| Net margin | 32.37% | - | 30.95% | 43% | 44.93% | 49.86% | 44.72% | 57.46% | 57.53% | 45.67% | 45% | 62.86% | - | - | - | - | - |
| EPS 2 | - | - | 0.3000 | - | - | - | - | 0.9300 | 0.9700 | 0.8100 | 0.6100 | 1.040 | 0.8007 | 0.7658 | 0.7819 | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.100 | - | - |
| Announcement Date | 7/20/20 | 7/28/21 | 1/26/22 | 4/21/22 | 7/28/22 | 10/27/22 | 1/26/23 | 4/27/23 | 7/27/23 | 10/26/23 | 1/25/24 | 4/25/24 | - | - | - | - | - |
1AED in Million2AED
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 19.9% | 8.38% | 11.1% | 14.7% | 21.2% | 19.4% | 15.5% | 14.6% |
| ROA (Net income/ Total Assets) | 2.45% | 1.01% | 1.34% | 1.82% | 2.68% | 2.31% | 2.03% | 1.94% |
| Assets 1 | 591,832 | 690,705 | 693,846 | 714,702 | 802,367 | 917,590 | 937,045 | 1,011,911 |
| Book Value Per Share 2 | 11.40 | 11.70 | 13.20 | 14.80 | 16.00 | 18.10 | 20.00 | 22.20 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 1/27/20 | 1/27/21 | 1/26/22 | 1/26/23 | 1/25/24 | - | - | - |
1AED in Million2AED
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
15.7
AED
Average target price
22.45
AED
Spread / Average Target
+43.01%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.25% | 27B | |
| +18.00% | 576B | |
| +17.91% | 310B | |
| +21.99% | 254B | |
| +22.33% | 210B | |
| +24.95% | 188B | |
| +30.54% | 172B | |
| +9.11% | 163B | |
| +7.40% | 149B | |
| -11.24% | 139B |
- Stock Market
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- EMIRATESNBD Stock
- Financials Emirates NBD Bank
