Stock EMIRATESNBD EMIRATES NBD BANK
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Financials Emirates NBD Bank

Equities

EMIRATESNBD

AEE000801010

Banks

Market Closed - Dubai FM
Other stock markets
 06:55:05 2024-04-26 am EDT 		5-day change 1st Jan Change
16.75 AED +1.21% Intraday chart for Emirates NBD Bank +1.21% -3.18%
Apr. 25 Transcript : Emirates NBD Bank PJSC, Q1 2024 Earnings Call, Apr 25, 2024
Apr. 25 Emirates NBD Bank PJSC Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 82,115 65,060 85,589 82,115 109,276 105,802 - -
Enterprise Value (EV) 1 82,115 65,060 85,589 82,115 109,276 105,802 105,802 105,802
P/E ratio 7.74 x 10.3 x 9.82 x 6.57 x 5.21 x 5.27 x 5.71 x 5.48 x
Yield 3.08% 3.88% 3.69% 4.62% 6.94% 6.14% 6.24% 6.65%
Capitalization / Revenue 3.66 x 2.8 x 3.59 x 2.81 x 2.9 x 2.43 x 2.49 x 2.42 x
EV / Revenue 3.66 x 2.8 x 3.59 x 2.81 x 2.9 x 2.43 x 2.49 x 2.42 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 0.94 x 0.84 x 0.77 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 16.75 16.75 16.75
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 43,540 42,476 43,651
EBITDA - - - - - - - -
EBIT 1 15,211 15,354 15,830 23,252 31,332 30,466 28,607 28,144
Operating Margin 67.85% 66.15% 66.45% 79.67% 83.02% 69.97% 67.35% 64.48%
Earnings before Tax (EBT) 1 14,894 7,430 9,910 18,068 23,655 23,008 23,038 23,333
Net income 1 14,503 6,960 9,298 13,003 21,480 18,249 18,284 18,873
Net margin 64.69% 29.98% 39.03% 44.55% 56.92% 41.91% 43.05% 43.24%
EPS 2 1.680 1.000 1.380 1.980 3.320 3.177 2.932 3.058
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 1.029 1.044 1.114
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 10,606 10,867 10,976 - -
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) 1 - - 2,100 3,005 5,252 - 5,031 6,518 7,528 7,983 3,956 7,577 7,088 7,269 6,402 - -
Net income 1 4,088 4,443 2,012 2,741 3,500 3,776 3,929 6,012 6,226 5,221 4,021 6,702 4,776 4,934 4,230 - -
Net margin 32.37% - 30.95% 43% 44.93% 49.86% 44.72% 57.46% 57.53% 45.67% 45% 62.86% 45.03% 45.4% 38.53% - -
EPS 2 - - 0.3000 - - - - 0.9300 0.9700 0.8100 0.6100 1.040 0.7782 0.7465 0.8983 - -
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% 18.1% 15.2% 14.3%
ROA (Net income/ Total Assets) 2.45% 1.01% 1.34% 1.82% 2.68% 2% 2.02% 1.91%
Assets 1 591,832 690,705 693,846 714,702 802,367 912,450 904,028 986,371
Book Value Per Share 2 11.40 11.70 13.20 14.80 16.00 17.90 19.90 21.80
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

Ratings for Emirates NBD Bank

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
16.75 AED
Average target price
22.35 AED
Spread / Average Target
+33.41%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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