Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	27.49B	19.15B	11.92B	11.54B	15.60B
Cost of Revenue	12.04B	8.60B	3.64B	6.46B	9.95B
Gross Profit	15.44B	10.54B	8.28B	5.08B	5.65B
SG&A	2.01B	1.49B	1.05B	1.12B	0.93B
Operating Expenses	2.03B	1.50B	1.06B	1.13B	1.57B
Operating Income	13.42B	9.05B	7.22B	3.95B	4.08B
Interest Income	1.24B	0.99B	0.68B	0.13B	0.01B
Interest Expense	-14.99M	-243.95M	-120.01M	-173.61M	-94.03M
Other Income/Expense	133.16M	184.32M	578.51M	178.75M	-2.75M
Pretax Income	15.49B	10.17B	8.48B	4.27B	4.23B
Income Tax	1.89B	0.49B	—	—	—
Net Income	11.32B	7.63B	6.63B	3.81B	3.24B
EBITDA	13.43B	9.06B	7.23B	3.96B	4.09B
EBIT	13.42B	9.05B	7.22B	3.95B	4.08B
EPS (Basic)	2.83	1.91	1.66	0.95	0.81
EPS (Diluted)	2.83	1.91	1.66	0.95	0.81
DPS	1.00	0.68	0.52	0.52	—
Margins & Efficiency
Gross Margin %	+56.2%	+55.1%	+69.5%	+44.0%	+36.2%
EBITDA Margin %	+48.8%	+47.3%	+60.7%	+34.3%	+26.2%
Net Margin %	+41.2%	+39.9%	+55.6%	+33.0%	+20.8%
Revenue & Income
Revenue	27.49B	19.15B	11.92B	11.54B	15.60B
Revenue Growth (YoY)	+43.6%	+60.6%	+3.3%	-26.0%	+59.9%
Interest & Investment Income	1.24B	0.99B	0.68B	0.13B	0.01B
Earnings From Equity Investments	716.85M	194.17M	123.61M	174.37M	234.88M
Expenses & Provisions
Cost of Revenue	12.04B	8.60B	3.64B	6.46B	9.95B
Selling, General & Admin	2.01B	1.49B	1.05B	1.12B	0.93B
Operating Expenses	2.03B	1.50B	1.06B	1.13B	1.57B
Other Operating Expenses	—	—	—	—	627.21M
Interest Expense	-14.99M	-243.95M	-120.01M	-173.61M	-94.03M
Other Non Operating Income (Expenses)	133.16M	184.32M	578.51M	178.75M	-2.75M
D&A For EBITDA	7.47M	8.46M	9.77M	7.12M	9.71M
Profitability & Returns
Gross Profit	15.44B	10.54B	8.28B	5.08B	5.65B
Gross Margin	+56.2%	+55.1%	+69.5%	+44.0%	+36.2%
EBIT	13.42B	9.05B	7.22B	3.95B	4.08B
EBIT Margin	+48.8%	+47.3%	+60.6%	+34.3%	+26.2%
EBITDA	13.43B	9.06B	7.23B	3.96B	4.09B
EBITDA Margin	+48.8%	+47.3%	+60.7%	+34.3%	+26.2%
Pretax Income	15.49B	10.17B	8.48B	4.27B	4.23B
Operating Income	13.42B	9.05B	7.22B	3.95B	4.08B
Operating Margin	+48.8%	+47.3%	+60.6%	+34.3%	+26.2%
Profit Margin	+41.2%	+39.9%	+55.6%	+33.0%	+20.8%
Net Income	11.32B	7.63B	6.63B	3.81B	3.24B
Net Income to Common	11.32B	7.63B	6.63B	3.81B	3.24B
Net Income Growth	+48.2%	+15.1%	+74.1%	+17.4%	+95.8%
Earnings From Continuing Ops.	13.61B	9.69B	8.48B	4.27B	4.23B
Minority Interest in Earnings	-2.29B	-2.05B	-1.86B	-0.46B	-0.99B
Income Tax Expense	1.89B	0.49B	—	—	—
Effective Tax Rate	+12.2%	+4.8%	—	—	—
Per Share & Capital
EPS (Basic)	2.83	1.91	1.66	0.95	0.81
EPS (Diluted)	2.83	1.91	1.66	0.95	0.81
EPS Growth	+48.2%	+15.1%	+74.1%	+17.4%	+95.8%
Dividend Per Share	1.00	0.68	0.52	0.52	—
Shares Outstanding (Basic)	4.00B	4.00B	4.00B	4.00B	4.00B
Shares Outstanding (Diluted)	4.00B	4.00B	4.00B	4.00B	4.00B
Dividend Growth	+47.1%	+30.7%	—	—	—
Free Cash Flow	21.04B	10.95B	9.76B	8.62B	4.20B
Free Cash Flow Margin	+76.6%	+57.2%	+81.9%	+74.7%	+26.9%
Free Cash Flow Per Share	5.26	2.74	2.44	2.15	1.05
Payout Ratio	+24.0%	+27.3%	+31.4%	—	—

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	27.49B	19.15B	11.92B	11.54B	15.60B
Cost of Revenue	12.04B	8.60B	3.64B	6.46B	9.95B
Gross Profit	15.44B	10.54B	8.28B	5.08B	5.65B
SG&A	2.01B	1.49B	1.05B	1.12B	0.93B
Operating Expenses	2.03B	1.50B	1.06B	1.13B	1.57B
Operating Income	13.42B	9.05B	7.22B	3.95B	4.08B
Interest Income	1.24B	0.99B	0.68B	0.13B	0.01B
Interest Expense	-14.99M	-243.95M	-120.01M	-173.61M	-94.03M
Other Income/Expense	133.16M	184.32M	578.51M	178.75M	-2.75M
Pretax Income	15.49B	10.17B	8.48B	4.27B	4.23B
Income Tax	1.89B	0.49B	—	—	—
Net Income	11.32B	7.63B	6.63B	3.81B	3.24B
EBITDA	13.43B	9.06B	7.23B	3.96B	4.09B
EBIT	13.42B	9.05B	7.22B	3.95B	4.08B
EPS (Basic)	2.83	1.91	1.66	0.95	0.81
EPS (Diluted)	2.83	1.91	1.66	0.95	0.81
DPS	1.00	0.68	0.52	0.52	—
Margins & Efficiency
Gross Margin %	+56.2%	+55.1%	+69.5%	+44.0%	+36.2%
EBITDA Margin %	+48.8%	+47.3%	+60.7%	+34.3%	+26.2%
Net Margin %	+41.2%	+39.9%	+55.6%	+33.0%	+20.8%
Revenue & Income
Revenue	27.49B	19.15B	11.92B	11.54B	15.60B
Revenue Growth (YoY)	+43.6%	+60.6%	+3.3%	-26.0%	+59.9%
Interest & Investment Income	1.24B	0.99B	0.68B	0.13B	0.01B
Earnings From Equity Investments	716.85M	194.17M	123.61M	174.37M	234.88M
Expenses & Provisions
Cost of Revenue	12.04B	8.60B	3.64B	6.46B	9.95B
Selling, General & Admin	2.01B	1.49B	1.05B	1.12B	0.93B
Operating Expenses	2.03B	1.50B	1.06B	1.13B	1.57B
Other Operating Expenses	—	—	—	—	627.21M
Interest Expense	-14.99M	-243.95M	-120.01M	-173.61M	-94.03M
Other Non Operating Income (Expenses)	133.16M	184.32M	578.51M	178.75M	-2.75M
D&A For EBITDA	7.47M	8.46M	9.77M	7.12M	9.71M
Profitability & Returns
Gross Profit	15.44B	10.54B	8.28B	5.08B	5.65B
Gross Margin	+56.2%	+55.1%	+69.5%	+44.0%	+36.2%
EBIT	13.42B	9.05B	7.22B	3.95B	4.08B
EBIT Margin	+48.8%	+47.3%	+60.6%	+34.3%	+26.2%
EBITDA	13.43B	9.06B	7.23B	3.96B	4.09B
EBITDA Margin	+48.8%	+47.3%	+60.7%	+34.3%	+26.2%
Pretax Income	15.49B	10.17B	8.48B	4.27B	4.23B
Operating Income	13.42B	9.05B	7.22B	3.95B	4.08B
Operating Margin	+48.8%	+47.3%	+60.6%	+34.3%	+26.2%
Profit Margin	+41.2%	+39.9%	+55.6%	+33.0%	+20.8%
Net Income	11.32B	7.63B	6.63B	3.81B	3.24B
Net Income to Common	11.32B	7.63B	6.63B	3.81B	3.24B
Net Income Growth	+48.2%	+15.1%	+74.1%	+17.4%	+95.8%
Earnings From Continuing Ops.	13.61B	9.69B	8.48B	4.27B	4.23B
Minority Interest in Earnings	-2.29B	-2.05B	-1.86B	-0.46B	-0.99B
Income Tax Expense	1.89B	0.49B	—	—	—
Effective Tax Rate	+12.2%	+4.8%	—	—	—
Per Share & Capital
EPS (Basic)	2.83	1.91	1.66	0.95	0.81
EPS (Diluted)	2.83	1.91	1.66	0.95	0.81
EPS Growth	+48.2%	+15.1%	+74.1%	+17.4%	+95.8%
Dividend Per Share	1.00	0.68	0.52	0.52	—
Shares Outstanding (Basic)	4.00B	4.00B	4.00B	4.00B	4.00B
Shares Outstanding (Diluted)	4.00B	4.00B	4.00B	4.00B	4.00B
Dividend Growth	+47.1%	+30.7%	—	—	—
Free Cash Flow	21.04B	10.95B	9.76B	8.62B	4.20B
Free Cash Flow Margin	+76.6%	+57.2%	+81.9%	+74.7%	+26.9%
Free Cash Flow Per Share	5.26	2.74	2.44	2.15	1.05
Payout Ratio	+24.0%	+27.3%	+31.4%	—	—

Financials

Annual (AED)

EMAARDEV

Annual (AED)