EMAARDEV

Emaar Development PJSC

EMAARDEVStocksDubai 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	5.86B	3.13B	6.02B	6.04B	2.93B
Free Cash Flow	5.87B	3.12B	6.01B	6.04B	2.93B
Capital Expenditures	1.41M	-3.92M	-4.66M	-0.35M	-0.31M
Investing & Financing
Investing Cash Flow	-1.09B	0.35B	0.29B	0.26B	0.19B
Financing Cash Flow	-0.02B	-0.81B	-3.76B	-0.02B	-6.88B
Dividends Paid	—	—	-2.72B	—	—
Operating Activities
Operating Cash Flow	5.86B	3.13B	6.02B	6.04B	2.93B
Net Income	4.31B	3.25B	1.84B	1.92B	3.06B
Change in Accounts Payable	2.58B	0.57B	-0.10B	-0.05B	-0.60B
Change in Accounts Receivable	1.07B	0.87B	0.94B	1.24B	-0.21B
Change in Inventory	-1.33B	-3.04B	-0.22B	0.21B	0.30B
Change in Other Net Operating Assets	-718.44M	83.07M	-825.77M	-11.49M	-448.31M
Change in Unearned Revenue	-0.66B	0.93B	3.84B	2.22B	0.57B
Change in Working Capital	0.93B	-0.59B	3.63B	3.61B	-0.38B
Other Operating Activities	1.08B	0.58B	0.62B	0.59B	0.36B
Depreciation & Amortization	3.21M	2.31M	6.15M	2.02M	2.00M
Cash Interest Paid	23.79M	8.97M	37.09M	19.72M	170.45M
Cash Income Tax Paid	—	143.20M	—	—	—
Loss (Gain) on Equity Investments	-461.18M	-111.54M	-74.27M	-69.86M	-110.43M
Investing Activities
Investing Cash Flow	-1.09B	0.35B	0.29B	0.26B	0.19B
Capital Expenditures	1.41M	-3.92M	-4.66M	-0.35M	-0.31M
Investment in Securities	-1.51B	—	—	—	—
Other Investing Activities	411.20M	349.82M	293.94M	256.31M	186.31M
Sale (Purchase) of Real Estate	—	—	—	—	-598.00K
Financing Activities
Financing Cash Flow	-0.02B	-0.81B	-3.76B	-0.02B	-6.88B
Common Dividends Paid	—	—	-2.72B	—	—
Long-Term Debt Issued	—	—	—	—	—
Short-Term Debt Issued	—	—	—	—	—
Total Debt Issued	—	1.75B	—	—	—
Long-Term Debt Repaid	—	—	—	—	—
Short-Term Debt Repaid	—	—	—	—	—
Total Debt Repaid	—	-1.75B	—	—	-4.25B
Net Debt Issued (Repaid)	—	—	—	—	-4.25B
Other Financing Activities	-0.02B	-0.81B	-1.04B	-0.02B	-2.63B
Free Cash Flow & Returns
Free Cash Flow	5.87B	3.12B	6.01B	6.04B	2.93B
Free Cash Flow Growth	+100.3%	-25.7%	+50.4%	—	+587.1%
Free Cash Flow Margin	+59.6%	+40.5%	+122.5%	+120.3%	+43.9%
Free Cash Flow Per Share	1.47	0.78	1.51	1.51	0.74
Levered Free Cash Flow	3.08B	-0.13B	-1.94B	5.45B	0.10B
Unlevered Free Cash Flow	3.08B	-0.12B	-1.93B	5.46B	0.12B
Operating Cash Flow Growth	+100.2%	-25.6%	+50.5%	—	+590.5%
Net Cash Flow	4.75B	2.66B	2.55B	6.28B	-3.76B

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	5.86B	3.13B	6.02B	6.04B	2.93B
Free Cash Flow	5.87B	3.12B	6.01B	6.04B	2.93B
Capital Expenditures	1.41M	-3.92M	-4.66M	-0.35M	-0.31M
Investing & Financing
Investing Cash Flow	-1.09B	0.35B	0.29B	0.26B	0.19B
Financing Cash Flow	-0.02B	-0.81B	-3.76B	-0.02B	-6.88B
Dividends Paid	—	—	-2.72B	—	—
Operating Activities
Operating Cash Flow	5.86B	3.13B	6.02B	6.04B	2.93B
Net Income	4.31B	3.25B	1.84B	1.92B	3.06B
Change in Accounts Payable	2.58B	0.57B	-0.10B	-0.05B	-0.60B
Change in Accounts Receivable	1.07B	0.87B	0.94B	1.24B	-0.21B
Change in Inventory	-1.33B	-3.04B	-0.22B	0.21B	0.30B
Change in Other Net Operating Assets	-718.44M	83.07M	-825.77M	-11.49M	-448.31M
Change in Unearned Revenue	-0.66B	0.93B	3.84B	2.22B	0.57B
Change in Working Capital	0.93B	-0.59B	3.63B	3.61B	-0.38B
Other Operating Activities	1.08B	0.58B	0.62B	0.59B	0.36B
Depreciation & Amortization	3.21M	2.31M	6.15M	2.02M	2.00M
Cash Interest Paid	23.79M	8.97M	37.09M	19.72M	170.45M
Cash Income Tax Paid	—	143.20M	—	—	—
Loss (Gain) on Equity Investments	-461.18M	-111.54M	-74.27M	-69.86M	-110.43M
Investing Activities
Investing Cash Flow	-1.09B	0.35B	0.29B	0.26B	0.19B
Capital Expenditures	1.41M	-3.92M	-4.66M	-0.35M	-0.31M
Investment in Securities	-1.51B	—	—	—	—
Other Investing Activities	411.20M	349.82M	293.94M	256.31M	186.31M
Sale (Purchase) of Real Estate	—	—	—	—	-598.00K
Financing Activities
Financing Cash Flow	-0.02B	-0.81B	-3.76B	-0.02B	-6.88B
Common Dividends Paid	—	—	-2.72B	—	—
Long-Term Debt Issued	—	—	—	—	—
Short-Term Debt Issued	—	—	—	—	—
Total Debt Issued	—	1.75B	—	—	—
Long-Term Debt Repaid	—	—	—	—	—
Short-Term Debt Repaid	—	—	—	—	—
Total Debt Repaid	—	-1.75B	—	—	-4.25B
Net Debt Issued (Repaid)	—	—	—	—	-4.25B
Other Financing Activities	-0.02B	-0.81B	-1.04B	-0.02B	-2.63B
Free Cash Flow & Returns
Free Cash Flow	5.87B	3.12B	6.01B	6.04B	2.93B
Free Cash Flow Growth	+100.3%	-25.7%	+50.4%	—	+587.1%
Free Cash Flow Margin	+59.6%	+40.5%	+122.5%	+120.3%	+43.9%
Free Cash Flow Per Share	1.47	0.78	1.51	1.51	0.74
Levered Free Cash Flow	3.08B	-0.13B	-1.94B	5.45B	0.10B
Unlevered Free Cash Flow	3.08B	-0.12B	-1.93B	5.46B	0.12B
Operating Cash Flow Growth	+100.2%	-25.6%	+50.5%	—	+590.5%
Net Cash Flow	4.75B	2.66B	2.55B	6.28B	-3.76B