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
Operating Summary
Revenue	16.45B	13.27B	9.74B	10.10B	11.71B
Cost of Revenue	7.33B	6.30B	4.33B	4.37B	4.96B
Gross Profit	9.12B	6.97B	5.41B	5.73B	6.75B
SG&A	1.21B	0.92B	0.75B	0.72B	0.98B
Operating Expenses	1.50B	1.17B	1.04B	0.97B	1.26B
Operating Income	7.62B	5.80B	4.37B	4.76B	5.49B
Interest Income	691.57M	613.83M	630.00M	569.84M	458.07M
Interest Expense	-106.57M	-144.17M	-92.08M	-149.28M	-137.14M
Other Income/Expense	-14.16M	152.97M	59.02M	158.55M	353.00M
Pretax Income	8.91B	6.32B	4.99B	5.43B	6.47B
Income Tax	1.23B	0.55B	0.75B	0.80B	0.07B
Net Income	6.15B	4.37B	3.37B	3.71B	4.99B
EBITDA	8.03B	6.18B	4.79B	5.13B	5.89B
EBIT	7.62B	5.80B	4.37B	4.76B	5.49B
EPS (Basic)	0.69	0.49	0.38	0.42	0.57
EPS (Diluted)	0.69	0.49	0.38	0.42	0.57
Margins & Efficiency
Gross Margin %	+55.4%	+52.5%	+55.5%	+56.7%	+57.6%
EBITDA Margin %	+48.8%	+46.6%	+49.2%	+50.8%	+50.3%
Net Margin %	+37.4%	+32.9%	+34.6%	+36.7%	+42.6%
Revenue & Income
Revenue	16.45B	13.27B	9.74B	10.10B	11.71B
Revenue Growth (YoY)	+40.5%	+41.4%	+26.7%	+50.2%	+39.8%
Interest & Investment Income	691.57M	613.83M	630.00M	569.84M	458.07M
Earnings From Equity Investments	546.60M	62.47M	82.10M	109.70M	43.08M
Gain (Loss) on Sale of Assets	—	—	—	—	—
Gain (Loss) on Sale of Investments	194.15M	—	—	—	229.16M
Currency Exchange Gain (Loss)	-21.40M	-162.60M	-59.38M	-16.68M	32.11M
Expenses & Provisions
Cost of Revenue	7.33B	6.30B	4.33B	4.37B	4.96B
Selling, General & Admin	1.21B	0.92B	0.75B	0.72B	0.98B
Operating Expenses	1.50B	1.17B	1.04B	0.97B	1.26B
Other Operating Expenses	-111.75M	-115.52M	-116.77M	-105.84M	-124.88M
Interest Expense	-106.57M	-144.17M	-92.08M	-149.28M	-137.14M
Other Non Operating Income (Expenses)	-14.16M	152.97M	59.02M	158.55M	353.00M
Asset Writedown	—	—	—	—	—
D&A For EBITDA	409.61M	384.59M	417.10M	369.16M	392.53M
Profitability & Returns
Gross Profit	9.12B	6.97B	5.41B	5.73B	6.75B
Gross Margin	+55.4%	+52.5%	+55.5%	+56.7%	+57.6%
EBIT	7.62B	5.80B	4.37B	4.76B	5.49B
EBIT Margin	+46.3%	+43.7%	+44.9%	+47.1%	+46.9%
EBITDA	8.03B	6.18B	4.79B	5.13B	5.89B
EBITDA Margin	+48.8%	+46.6%	+49.2%	+50.8%	+50.3%
EBT Excluding Unusual Items	8.72B	6.32B	4.99B	5.43B	6.24B
Pretax Income	8.91B	6.32B	4.99B	5.43B	6.47B
Operating Income	7.62B	5.80B	4.37B	4.76B	5.49B
Operating Margin	+46.3%	+43.7%	+44.9%	+47.1%	+46.9%
Profit Margin	+37.4%	+32.9%	+34.6%	+36.7%	+42.6%
Net Income	6.15B	4.37B	3.37B	3.71B	4.99B
Net Income to Common	6.15B	4.37B	3.37B	3.71B	4.99B
Net Income Growth	+23.1%	+37.4%	+39.3%	+27.0%	+47.1%
Earnings From Continuing Ops.	7.68B	5.77B	4.24B	4.64B	6.40B
Minority Interest in Earnings	-1.53B	-1.39B	-0.87B	-0.93B	-1.41B
Income Tax Expense	1.23B	0.55B	0.75B	0.80B	0.07B
Effective Tax Rate	+13.8%	+8.8%	+14.9%	+14.7%	+1.1%
Per Share & Capital
EPS (Basic)	0.69	0.49	0.38	0.42	0.57
EPS (Diluted)	0.69	0.49	0.38	0.42	0.57
EPS Growth	+20.3%	+36.1%	+40.7%	+27.3%	+48.2%
Dividend Per Share	1.00	—	—	—	1.00
Shares Change (YoY)	0.02	0.01	-0.01	-0	-0.01
Shares Outstanding (Basic)	8.93B	8.92B	8.87B	8.83B	8.72B
Shares Outstanding (Diluted)	8.93B	8.92B	8.87B	8.83B	8.72B
Dividend Growth	—	—	—	—	+100.0%
Free Cash Flow	9.28B	4.76B	9.69B	8.79B	7.26B
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
Payout Ratio	—	+18.3%	+307.9%	—	+49.2%

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
Operating Summary
Revenue	16.45B	13.27B	9.74B	10.10B	11.71B
Cost of Revenue	7.33B	6.30B	4.33B	4.37B	4.96B
Gross Profit	9.12B	6.97B	5.41B	5.73B	6.75B
SG&A	1.21B	0.92B	0.75B	0.72B	0.98B
Operating Expenses	1.50B	1.17B	1.04B	0.97B	1.26B
Operating Income	7.62B	5.80B	4.37B	4.76B	5.49B
Interest Income	691.57M	613.83M	630.00M	569.84M	458.07M
Interest Expense	-106.57M	-144.17M	-92.08M	-149.28M	-137.14M
Other Income/Expense	-14.16M	152.97M	59.02M	158.55M	353.00M
Pretax Income	8.91B	6.32B	4.99B	5.43B	6.47B
Income Tax	1.23B	0.55B	0.75B	0.80B	0.07B
Net Income	6.15B	4.37B	3.37B	3.71B	4.99B
EBITDA	8.03B	6.18B	4.79B	5.13B	5.89B
EBIT	7.62B	5.80B	4.37B	4.76B	5.49B
EPS (Basic)	0.69	0.49	0.38	0.42	0.57
EPS (Diluted)	0.69	0.49	0.38	0.42	0.57
Margins & Efficiency
Gross Margin %	+55.4%	+52.5%	+55.5%	+56.7%	+57.6%
EBITDA Margin %	+48.8%	+46.6%	+49.2%	+50.8%	+50.3%
Net Margin %	+37.4%	+32.9%	+34.6%	+36.7%	+42.6%
Revenue & Income
Revenue	16.45B	13.27B	9.74B	10.10B	11.71B
Revenue Growth (YoY)	+40.5%	+41.4%	+26.7%	+50.2%	+39.8%
Interest & Investment Income	691.57M	613.83M	630.00M	569.84M	458.07M
Earnings From Equity Investments	546.60M	62.47M	82.10M	109.70M	43.08M
Gain (Loss) on Sale of Assets	—	—	—	—	—
Gain (Loss) on Sale of Investments	194.15M	—	—	—	229.16M
Currency Exchange Gain (Loss)	-21.40M	-162.60M	-59.38M	-16.68M	32.11M
Expenses & Provisions
Cost of Revenue	7.33B	6.30B	4.33B	4.37B	4.96B
Selling, General & Admin	1.21B	0.92B	0.75B	0.72B	0.98B
Operating Expenses	1.50B	1.17B	1.04B	0.97B	1.26B
Other Operating Expenses	-111.75M	-115.52M	-116.77M	-105.84M	-124.88M
Interest Expense	-106.57M	-144.17M	-92.08M	-149.28M	-137.14M
Other Non Operating Income (Expenses)	-14.16M	152.97M	59.02M	158.55M	353.00M
Asset Writedown	—	—	—	—	—
D&A For EBITDA	409.61M	384.59M	417.10M	369.16M	392.53M
Profitability & Returns
Gross Profit	9.12B	6.97B	5.41B	5.73B	6.75B
Gross Margin	+55.4%	+52.5%	+55.5%	+56.7%	+57.6%
EBIT	7.62B	5.80B	4.37B	4.76B	5.49B
EBIT Margin	+46.3%	+43.7%	+44.9%	+47.1%	+46.9%
EBITDA	8.03B	6.18B	4.79B	5.13B	5.89B
EBITDA Margin	+48.8%	+46.6%	+49.2%	+50.8%	+50.3%
EBT Excluding Unusual Items	8.72B	6.32B	4.99B	5.43B	6.24B
Pretax Income	8.91B	6.32B	4.99B	5.43B	6.47B
Operating Income	7.62B	5.80B	4.37B	4.76B	5.49B
Operating Margin	+46.3%	+43.7%	+44.9%	+47.1%	+46.9%
Profit Margin	+37.4%	+32.9%	+34.6%	+36.7%	+42.6%
Net Income	6.15B	4.37B	3.37B	3.71B	4.99B
Net Income to Common	6.15B	4.37B	3.37B	3.71B	4.99B
Net Income Growth	+23.1%	+37.4%	+39.3%	+27.0%	+47.1%
Earnings From Continuing Ops.	7.68B	5.77B	4.24B	4.64B	6.40B
Minority Interest in Earnings	-1.53B	-1.39B	-0.87B	-0.93B	-1.41B
Income Tax Expense	1.23B	0.55B	0.75B	0.80B	0.07B
Effective Tax Rate	+13.8%	+8.8%	+14.9%	+14.7%	+1.1%
Per Share & Capital
EPS (Basic)	0.69	0.49	0.38	0.42	0.57
EPS (Diluted)	0.69	0.49	0.38	0.42	0.57
EPS Growth	+20.3%	+36.1%	+40.7%	+27.3%	+48.2%
Dividend Per Share	1.00	—	—	—	1.00
Shares Change (YoY)	0.02	0.01	-0.01	-0	-0.01
Shares Outstanding (Basic)	8.93B	8.92B	8.87B	8.83B	8.72B
Shares Outstanding (Diluted)	8.93B	8.92B	8.87B	8.83B	8.72B
Dividend Growth	—	—	—	—	+100.0%
Free Cash Flow	9.28B	4.76B	9.69B	8.79B	7.26B
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
Payout Ratio	—	+18.3%	+307.9%	—	+49.2%