Stock ADCB ABU DHABI COMMERCIAL BANK
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Financials Abu Dhabi Commercial Bank

Equities

ADCB

AEA000201011

Banks

Market Closed - Abu Dhabi Securities Exchange
Other stock markets
 06:56:21 2024-05-03 am EDT 		5-day change 1st Jan Change
8.37 AED +0.24% Intraday chart for Abu Dhabi Commercial Bank +1.45% -8.82%
Apr. 26 Abu Dhabi Commercial Bank Pjsc Approves Distribution for the Year 2023 CI
Apr. 26 Moody's Affirms Abu Dhabi Commercial Bank Ratings on High Likelihood of Government Support MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 55,031 43,096 59,311 62,532 67,106 61,106 - -
Enterprise Value (EV) 1 55,031 43,096 59,311 62,532 67,106 61,106 61,106 61,106
P/E ratio 11.2 x 12.2 x 11.7 x 10 x 8.58 x 7.96 x 8.11 x 7.68 x
Yield 4.8% 4.35% 4.34% 6.11% 6.1% 6.33% 6.49% 6.97%
Capitalization / Revenue 4.69 x 3.46 x 4.84 x 4.36 x 3.98 x 3.36 x 3.3 x 3.16 x
EV / Revenue 4.69 x 3.46 x 4.84 x 4.36 x 3.98 x 3.36 x 3.3 x 3.16 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.91 x 0.76 x 1 x 1.02 x 0.94 x 0.93 x 0.87 x 0.82 x
Nbr of stocks (in thousands) 7,310,425 7,313,251 7,315,523 7,310,017 7,310,017 7,318,133 - -
Reference price 2 7.528 5.893 8.108 8.554 9.180 8.350 8.350 8.350
Announcement Date 1/27/20 1/31/21 1/31/22 1/31/23 1/31/24 - - -
1AED in Million2AED
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 11,722 12,471 12,259 14,344 16,866 18,196 18,496 19,364
EBITDA - - - - - - - -
EBIT 1 7,204 7,945 8,002 9,456 11,414 11,681 12,004 13,123
Operating Margin 61.46% 63.71% 65.27% 65.92% 67.67% 64.2% 64.9% 67.77%
Earnings before Tax (EBT) 1 4,870 3,970 5,363 6,669 8,427 9,162 9,382 9,764
Net income 1 4,790 3,806 5,241 6,435 8,207 8,092 8,133 8,521
Net margin 40.86% 30.52% 42.75% 44.86% 48.66% 44.47% 43.97% 44%
EPS 2 0.6748 0.4847 0.6938 0.8554 1.070 1.049 1.030 1.087
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.3612 0.2566 0.3517 0.5228 0.5600 0.5288 0.5422 0.5823
Announcement Date 1/27/20 1/31/21 1/31/22 1/31/23 1/31/24 - - -
1AED in Million2AED
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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
Net sales 1 - 3,277 2,936 3,495 3,510 4,403 3,912 4,059 4,233 4,662 4,586 4,579 4,587 4,620
EBITDA - - - - - - - - - - - - - -
EBIT - 2,149 1,818 2,268 2,269 3,101 2,681 2,740 2,822 3,171 3,169 - - -
Operating Margin - 65.56% 61.93% 64.9% 64.63% 70.42% 68.53% 67.51% 66.67% 68.02% 69.1% - - -
Earnings before Tax (EBT) - 1,481 - - - - - 1,993 2,000 2,500 2,431 - - -
Net income 2,523 1,443 - - 1,591 1,785 1,879 1,933 1,942 2,453 2,140 - - -
Net margin - 44.02% - - 45.34% 40.54% 48.03% 47.62% 45.88% 52.62% 46.66% - - -
EPS 2 - 0.1996 0.1901 0.2186 0.1996 0.2471 0.2300 0.2600 0.2300 0.3400 0.2600 0.2916 0.2558 0.2880
Dividend per Share 2 - - - - - - - - - - - - - 0.4987
Announcement Date 7/18/21 1/31/22 4/25/22 7/28/22 10/24/22 1/31/23 4/17/23 7/20/23 10/25/23 1/31/24 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) 10.8% 6.78% 9.04% 10.7% 12.4% 12.1% 11% 10.8%
ROA (Net income/ Total Assets) 1.4% 0.93% 1.23% 1.37% 1.47% 1.33% 1.26% 1.25%
Assets 1 342,487 408,123 425,727 469,730 558,284 610,695 647,543 680,578
Book Value Per Share 2 8.290 7.730 8.110 8.390 9.730 9.020 9.560 10.10
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 1/27/20 1/31/21 1/31/22 1/31/23 1/31/24 - - -
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 Abu Dhabi Commercial Bank

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
8.35 AED
Average target price
10.44 AED
Spread / Average Target
+25.01%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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