EMAAR

Emaar Properties (P.J.S.C)

EMAARStocksDubai Financial MarketReal Estate

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (AED)

1-5

	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024
Operations
Operating Cash Flow	9.45B	5.12B	9.88B	9.00B	7.31B
Free Cash Flow	9.28B	4.76B	9.69B	8.79B	7.26B
Capital Expenditures	-176.91M	-355.99M	-186.43M	-215.04M	-45.57M
Investing & Financing
Investing Cash Flow	-2.86B	-3.35B	-0.50B	-0.24B	-9.63B
Financing Cash Flow	-0.50B	-1.06B	-10.73B	-0.32B	-0.49B
Dividends Paid	—	-0.80B	-10.38B	—	-2.46B
Operating Activities
Operating Cash Flow	9.45B	5.12B	9.88B	9.00B	7.31B
Net Income	6.15B	4.37B	3.37B	3.71B	4.99B
Change in Accounts Payable	1.06B	0.88B	-0.18B	-0.18B	0.66B
Change in Accounts Receivable	0.53B	-2.33B	0.94B	1.69B	0.77B
Change in Income Taxes	829.05M	-664.48M	-155.79M	-8.79M	215.08M
Change in Other Net Operating Assets	-0.11B	0.11B	-0.56B	-0.64B	-0.92B
Change in Unearned Revenue	-0.47B	0.91B	4.95B	2.85B	0.44B
Change in Working Capital	1.84B	-1.10B	4.99B	3.71B	1.16B
Other Operating Activities	1.54B	1.50B	1.15B	1.30B	1.00B
Provision & Write-off of Bad Debts	44.19M	2.89M	11.89M	0.99M	8.87M
Depreciation & Amortization	435.25M	411.91M	443.19M	394.98M	417.55M
Other Amortization	3.34M	—	—	—	2.64M
Cash Interest Paid	279.17M	299.88M	244.17M	178.49M	203.58M
Cash Income Tax Paid	843.83M	—	—	—	224.31M
Miscellaneous Cash Flow Adjustments	—	—	—	—	—
Loss (Gain) on Equity Investments	-546.60M	-62.47M	-82.10M	-109.70M	-43.08M
Asset Writedown & Restructuring Costs	—	—	—	—	—
Investing Activities
Investing Cash Flow	-2.86B	-3.35B	-0.50B	-0.24B	-9.63B
Capital Expenditures	-176.91M	-355.99M	-186.43M	-215.04M	-45.57M
Cash Acquisitions	—	—	—	—	0.66B
Divestitures	—	—	—	—	—
Investment in Securities	-3.18B	-3.42B	-0.82B	-0.26B	-10.49B
Other Investing Activities	883.01M	522.85M	765.93M	494.73M	386.40M
Sale (Purchase) of Intangibles	1.56M	—	—	—	-2.10M
Sale (Purchase) of Real Estate	-392.41M	-98.95M	-258.36M	-265.12M	-132.86M
Sale of Property, Plant & Equipment	—	—	—	—	—
Loss (Gain) From Sale of Assets	—	—	—	—	—
Loss (Gain) on Sale of Investments	—	—	—	—	-229.16M
Financing Activities
Financing Cash Flow	-0.50B	-1.06B	-10.73B	-0.32B	-0.49B
Common Dividends Paid	—	-0.80B	-10.38B	—	-2.46B
Long-Term Debt Issued	—	—	—	548.65M	—
Total Debt Issued	-0.07B	1.56B	0.95B	0.55B	2.94B
Long-Term Debt Repaid	—	—	—	-0.68B	—
Total Debt Repaid	-0.15B	-1.52B	-0.66B	-0.68B	-0.76B
Net Debt Issued (Repaid)	-0.22B	0.04B	0.28B	-0.13B	2.17B
Other Financing Activities	-279.17M	-299.88M	-637.07M	-191.52M	-203.58M
Free Cash Flow & Returns
Free Cash Flow	9.28B	4.76B	9.69B	8.79B	7.26B
Free Cash Flow Growth	+27.8%	-35.2%	+43.0%	+243.4%	+95.0%
Free Cash Flow Margin	+56.4%	+35.9%	+99.6%	+87.0%	+62.0%
Free Cash Flow Per Share	1.04	0.53	1.09	1.00	0.83
Levered Free Cash Flow	6.92B	-6.03B	-8.21B	11.01B	1.12B
Unlevered Free Cash Flow	6.99B	-5.94B	-8.15B	11.10B	1.21B
Operating Cash Flow Growth	+29.4%	-32.3%	+42.6%	+235.6%	+89.8%
Net Cash Flow	6.09B	0.77B	-1.31B	8.45B	-2.85B
Foreign Exchange Rate Adjustments	3.22M	61.90M	41.06M	12.38M	-44.94M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (AED)

1-5

	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024
Operations
Operating Cash Flow	9.45B	5.12B	9.88B	9.00B	7.31B
Free Cash Flow	9.28B	4.76B	9.69B	8.79B	7.26B
Capital Expenditures	-176.91M	-355.99M	-186.43M	-215.04M	-45.57M
Investing & Financing
Investing Cash Flow	-2.86B	-3.35B	-0.50B	-0.24B	-9.63B
Financing Cash Flow	-0.50B	-1.06B	-10.73B	-0.32B	-0.49B
Dividends Paid	—	-0.80B	-10.38B	—	-2.46B
Operating Activities
Operating Cash Flow	9.45B	5.12B	9.88B	9.00B	7.31B
Net Income	6.15B	4.37B	3.37B	3.71B	4.99B
Change in Accounts Payable	1.06B	0.88B	-0.18B	-0.18B	0.66B
Change in Accounts Receivable	0.53B	-2.33B	0.94B	1.69B	0.77B
Change in Income Taxes	829.05M	-664.48M	-155.79M	-8.79M	215.08M
Change in Other Net Operating Assets	-0.11B	0.11B	-0.56B	-0.64B	-0.92B
Change in Unearned Revenue	-0.47B	0.91B	4.95B	2.85B	0.44B
Change in Working Capital	1.84B	-1.10B	4.99B	3.71B	1.16B
Other Operating Activities	1.54B	1.50B	1.15B	1.30B	1.00B
Provision & Write-off of Bad Debts	44.19M	2.89M	11.89M	0.99M	8.87M
Depreciation & Amortization	435.25M	411.91M	443.19M	394.98M	417.55M
Other Amortization	3.34M	—	—	—	2.64M
Cash Interest Paid	279.17M	299.88M	244.17M	178.49M	203.58M
Cash Income Tax Paid	843.83M	—	—	—	224.31M
Miscellaneous Cash Flow Adjustments	—	—	—	—	—
Loss (Gain) on Equity Investments	-546.60M	-62.47M	-82.10M	-109.70M	-43.08M
Asset Writedown & Restructuring Costs	—	—	—	—	—
Investing Activities
Investing Cash Flow	-2.86B	-3.35B	-0.50B	-0.24B	-9.63B
Capital Expenditures	-176.91M	-355.99M	-186.43M	-215.04M	-45.57M
Cash Acquisitions	—	—	—	—	0.66B
Divestitures	—	—	—	—	—
Investment in Securities	-3.18B	-3.42B	-0.82B	-0.26B	-10.49B
Other Investing Activities	883.01M	522.85M	765.93M	494.73M	386.40M
Sale (Purchase) of Intangibles	1.56M	—	—	—	-2.10M
Sale (Purchase) of Real Estate	-392.41M	-98.95M	-258.36M	-265.12M	-132.86M
Sale of Property, Plant & Equipment	—	—	—	—	—
Loss (Gain) From Sale of Assets	—	—	—	—	—
Loss (Gain) on Sale of Investments	—	—	—	—	-229.16M
Financing Activities
Financing Cash Flow	-0.50B	-1.06B	-10.73B	-0.32B	-0.49B
Common Dividends Paid	—	-0.80B	-10.38B	—	-2.46B
Long-Term Debt Issued	—	—	—	548.65M	—
Total Debt Issued	-0.07B	1.56B	0.95B	0.55B	2.94B
Long-Term Debt Repaid	—	—	—	-0.68B	—
Total Debt Repaid	-0.15B	-1.52B	-0.66B	-0.68B	-0.76B
Net Debt Issued (Repaid)	-0.22B	0.04B	0.28B	-0.13B	2.17B
Other Financing Activities	-279.17M	-299.88M	-637.07M	-191.52M	-203.58M
Free Cash Flow & Returns
Free Cash Flow	9.28B	4.76B	9.69B	8.79B	7.26B
Free Cash Flow Growth	+27.8%	-35.2%	+43.0%	+243.4%	+95.0%
Free Cash Flow Margin	+56.4%	+35.9%	+99.6%	+87.0%	+62.0%
Free Cash Flow Per Share	1.04	0.53	1.09	1.00	0.83
Levered Free Cash Flow	6.92B	-6.03B	-8.21B	11.01B	1.12B
Unlevered Free Cash Flow	6.99B	-5.94B	-8.15B	11.10B	1.21B
Operating Cash Flow Growth	+29.4%	-32.3%	+42.6%	+235.6%	+89.8%
Net Cash Flow	6.09B	0.77B	-1.31B	8.45B	-2.85B
Foreign Exchange Rate Adjustments	3.22M	61.90M	41.06M	12.38M	-44.94M