GCC · DFM EMAAR

Emaar Properties financial statements: income, balance sheet, cash flow

DFM: EMAAR · Real estate · United Arab Emirates

Signed off by OffScriptBySami on 5 Oct 2026 · Updated 5 Oct 2026

Data as of 30 Jun 2026 · For information only, not investment advice.

In brief

Emaar Properties (DFM: EMAAR) reported net income attributable to its owners of AED 3.67 billion on revenue of AED 11.5 billion in Q2 2026, according to its interim financial statements. Cash and cash equivalents were AED 51.4 billion and total debt AED 9.44 billion at 30 Jun 2026, so net debt was negative AED 42.0 billion by our calculation.

Data as of 30 Jun 2026 Source: Interim financial statements for H1 2026, approved 6 Aug 2026

Key facts

Data as of 30 Jun 2026

Emaar Properties (DFM: EMAAR) · AED · fiscal year ends 31 December · figures from the company's financial statements; derived values are marked.

Revenue, TTM (AED bn): 53.6; TTM to 30 Jun 2026 · derived; Revenue by quarter, from AED 9.39 bn in Q3 2024 to AED 11.5 bn in Q2 2026
Net income, TTM (AED bn): 19.2; TTM to 30 Jun 2026 · derived
Free cash flow, TTM (AED bn): 25.1; TTM to 30 Jun 2026 · derived
Total assets (AED bn): 193; at 30 Jun 2026 · the company's financial statements
Net cash (AED bn): 42.0; at 30 Jun 2026 · derived: cash and short-term investments minus total debt; Uses cash and cash equivalents only; short-term deposits are not included.

What the numbers show

Emaar's income statement for Q2 2026, the quarter ended 30 Jun 2026, shows revenue of AED 11.5 billion, up 18.2% on Q2 2025. Gross margin, our calculation, was 55.8%. Net income attributable to the owners of the parent was AED 3.67 billion, a net margin of 31.9%, our calculation.

Revenue rose from AED 27.9 billion in FY2021, as restated, to AED 49.6 billion in FY2025, a compound annual growth rate of 15.4%, our calculation. Income tax was AED 3.33 billion in FY2025 against AED 1.45 billion in FY2024. The FY2025 charge includes the UAE domestic minimum top-up tax, which the FY2024 charge did not. Emaar Properties stock fundamentals covers the restated figures behind the FY2021 base year.

Emaar's balance sheet held total assets of AED 193 billion at 30 Jun 2026, against AED 187 billion at 31 Dec 2025. Development properties, which sit in the table's inventory row, were AED 51.6 billion, against AED 50.2 billion. Total liabilities were AED 84.1 billion, against AED 79.0 billion.

Total debt was AED 9.44 billion at 30 Jun 2026 and AED 9.81 billion at 31 Dec 2025. Cash and cash equivalents were AED 51.4 billion, so net debt, our calculation, was negative AED 42.0 billion, or net cash. Total debt covers loans and sukuk, and the table row labelled "Cash and short-term investments" holds cash and cash equivalents only, so short-term deposits are not in it. At 31 Dec 2025 net cash was AED 43.5 billion, on cash of AED 53.3 billion as the H1 2026 statements print it, against a lower figure in the FY2025 statements.

Emaar's cash from operations was AED 33.5 billion in FY2025, with capital expenditure of AED 934 million. Free cash flow, our calculation, was AED 32.5 billion. Capital expenditure is the line for property, plant and equipment, and the separate line for investment properties is not in it. In Q2 2026 cash from operations was AED 4.05 billion and free cash flow AED 3.84 billion, derived from year-to-date figures and marked D.

Emaar prints basic and diluted earnings per share as one line, AED 1.99 per share in FY2025. Quarterly earnings were AED 0.42 per share in Q2 2026 against AED 0.38 per share in Q2 2025. Dividends paid to the shareholders of the parent were AED 8.84 billion in FY2025 and AED 4.42 billion in FY2024. The cash flow statement's own dividend line is larger because it includes dividends of subsidiaries.

Income statement

Chart 1

Emaar Properties quarterly revenue, Q3 2024 to Q2 2026

AED bn · quarters ended 30 Sep 2024 to 30 Jun 2026

Source: Emaar Properties financial statements Data as of 30 Jun 2026

Annual

Swipe for earlier periods

Table 1 Emaar Properties income statement, annual, FY2021–FY2025 (AED millions) AED millions, except per-share data (AED) and percentages · Fiscal year ends 31 December
AED m	FY2025ended 31 Dec 2025	FY2024ended 31 Dec 2024	FY2023ended 31 Dec 2023	FY2022ended 31 Dec 2022	FY2021ended 31 Dec 2021	CAGRFY21–FY25
Revenue	49,557	35,505	26,750	24,926	27,896 R	increased 15.4%
Revenue YoY %	increased 39.6%	increased 32.7%	increased 7.3%	decreased 10.6% R	increased 55.3% R	not available
Cost of revenue	22,330	15,124	9,884	12,338	16,304 R	increased 8.2%
Gross profit	27,227	20,381	16,865	12,587	11,592 R	increased 23.8%
Gross margin %	54.9%	57.4%	63.0%	50.5%	41.6% R	not available
SG&A	3,595	3,232	2,786	3,522	4,052 R	decreased 2.9%
Net interest	1,784 D	1,162 D	564 D	76 D	−850 R D	n/m
Pre-tax income	25,656	18,900	15,062	8,477	6,085 R	increased 43.3%
Income tax	3,331	1,451	232	338	407	increased 69.1%
Net income	17,599	13,514	11,629	6,832	3,801 R	increased 46.7%
Net margin %	35.5%	38.1%	43.5%	27.4%	13.6% R	not available
Per share
Diluted EPS (AED)	1.99	1.53	1.32	0.83	0.52	increased 39.9%

Source: Emaar Properties financial statements Data as of 30 Jun 2026

R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 28,270 m in Emaar Properties financial statements approved 17 Mar 2022.
R Uses FY2021 revenue as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 27,896 m; originally reported AED 28,270 m in Emaar Properties financial statements approved 17 Mar 2022).
R Uses FY2021 revenue as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 27,896 m; originally reported AED 28,270 m in Emaar Properties financial statements approved 17 Mar 2022).
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 16,518 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 11,751 m in Emaar Properties financial statements approved 17 Mar 2022.
R Uses FY2021 gross profit as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 11,592 m; originally reported AED 11,751 m in Emaar Properties financial statements approved 17 Mar 2022).
R Uses FY2021 revenue as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 27,896 m; originally reported AED 28,270 m in Emaar Properties financial statements approved 17 Mar 2022).
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 4,072 m in Emaar Properties financial statements approved 17 Mar 2022.
D Net interest = interest income − interest expense, both from the same filing.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED −865 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 6,124 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 3,800 m in Emaar Properties financial statements approved 17 Mar 2022.
R Uses FY2021 net income as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 3,801 m; originally reported AED 3,800 m in Emaar Properties financial statements approved 17 Mar 2022).
Not available
Not meaningful

CAGR: compound annual growth rate from FY2021 to FY2025, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Quarterly

Swipe for earlier periods

Table 2 Emaar Properties income statement, quarterly, Q3 2024–Q2 2026 (AED millions) AED millions, except per-share data (AED) and percentages · Fiscal year ends 31 December
AED m	Q2 2026ended 30 Jun 2026	Q1 2026ended 31 Mar 2026	Q4 2025ended 31 Dec 2025	Q3 2025ended 30 Sep 2025	Q2 2025ended 30 Jun 2025	Q1 2025ended 31 Mar 2025	Q4 2024ended 31 Dec 2024	Q3 2024ended 30 Sep 2024
Revenue	11,510	12,398	16,450 D	13,273	9,736	10,098	11,712 D	9,385
Revenue YoY %	increased 18.2%	increased 22.8%	increased 40.5%	increased 41.4%	not available	not available	not available	not available
Cost of revenue	5,084	5,445	7,329 D	6,302	4,331	4,368	4,963 D	4,133
Gross profit	6,426	6,953	9,121 D	6,971	5,405	5,730	6,749 D	5,253
Gross margin %	55.8%	56.1%	55.4%	52.5%	55.5%	56.7%	57.6%	56.0%
SG&A	1,036	882	1,212 D	916	748	719	979 D	799
Net interest	496 D	502 D	436 D	452 D	470 D	426 D	252 D	374 D
Pre-tax income	5,552	7,246	8,912 D	6,322	4,990	5,433	6,473 D	4,673
Income tax	815	834	1,234 D	554	746	797	70 D	461
Net income	3,673	4,997	6,146 D	4,373	3,371	3,709	4,991 D	3,183
Net margin %	31.9%	40.3%	37.4%	32.9%	34.6%	36.7%	42.6%	33.9%
Per share
Diluted EPS (AED)	0.42	0.57	not available	0.49	0.38	0.42	not available	0.36

Source: Emaar Properties financial statements Data as of 30 Jun 2026

D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
D Net interest = interest income − interest expense, both from the same filing.
Not available

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Balance sheet

Annual

Swipe for earlier periods

Table 3 Emaar Properties assets, annual, FY2021–FY2025 (AED millions) AED millions
AED m	FY2025at 31 Dec 2025	FY2024at 31 Dec 2024	FY2023at 31 Dec 2023	FY2022at 31 Dec 2022	FY2021at 31 Dec 2021
Cash and short-term investments	53,304 R 1	38,632 1	25,625 1	17,545 1	7,464 R 1
Receivables	11,137	15,484	17,255	22,218	16,586 R
Inventory	50,235	45,096	40,998	42,241	37,689 R
PP&E (net)	9,267 2	8,987	9,491	9,884 3	9,157 R
Goodwill and intangibles	542 2	574	220	212	745
Total assets	186,701	160,222	139,397	132,364	120,614 R

Source: Emaar Properties financial statements Data as of 30 Jun 2026

R Restated or reclassified in Emaar Properties financial statements approved 6 Aug 2026; originally reported AED 52,633 m in Emaar Properties financial statements approved 12 Feb 2026.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 7,583 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 16,634 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 37,741 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 10,625 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 121,850 m in Emaar Properties financial statements approved 17 Mar 2022.

1 Cash and cash equivalents only; short-term deposits are not included.

2 As presented in Emaar Properties financial statements approved 12 Feb 2026.

3 As presented in Emaar Properties financial statements approved 16 Mar 2023.

Totals may not add up because of rounding.

Swipe for earlier periods

Table 4 Emaar Properties liabilities and shareholders' equity, annual, FY2021–FY2025 (AED millions) AED millions · net cash shown as a negative net debt
AED m	FY2025at 31 Dec 2025	FY2024at 31 Dec 2024	FY2023at 31 Dec 2023	FY2022at 31 Dec 2022	FY2021at 31 Dec 2021
Total debt	9,806 D	9,686 D	12,271 D	14,498 D	17,872 R D
Total liabilities	79,024	64,152	52,566	56,938	52,872 R
Shareholders' equity	94,278	85,428	77,724	68,998 2	61,715 R
Net debt / (net cash)	−43,498 R D 1	−28,946 D 1	−13,354 D 1	−3,047 D 1	10,408 R D 1

Source: Emaar Properties financial statements Data as of 30 Jun 2026

D Total debt = short-term debt + long-term debt, from the same filing.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 18,580 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 53,654 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 61,693 m in Emaar Properties financial statements approved 17 Mar 2022.
D Net debt = total debt minus cash and short-term investments; a negative value is net cash.
R Uses FY2025 cash and short-term investments as restated or reclassified in Emaar Properties financial statements approved 6 Aug 2026 (AED 53,304 m; originally reported AED 52,633 m in Emaar Properties financial statements approved 12 Feb 2026).
R Uses FY2021 total debt as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 17,872 m; originally reported AED 18,580 m in Emaar Properties financial statements approved 17 Mar 2022).
R Uses FY2021 cash and short-term investments as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 7,464 m; originally reported AED 7,583 m in Emaar Properties financial statements approved 17 Mar 2022).

1 Uses cash and cash equivalents only; short-term deposits are not included.

2 As presented in Emaar Properties financial statements approved 16 Mar 2023.

Totals may not add up because of rounding.

Quarterly

Swipe for earlier periods

Table 5 Emaar Properties assets, quarterly, Q3 2024–Q2 2026 (AED millions) AED millions
AED m	Q2 2026at 30 Jun 2026	Q1 2026at 31 Mar 2026	Q4 2025at 31 Dec 2025	Q3 2025at 30 Sep 2025	Q2 2025at 30 Jun 2025	Q1 2025at 31 Mar 2025	Q4 2024at 31 Dec 2024	Q3 2024at 30 Sep 2024
Cash and short-term investments	51,395 1	55,518 1	53,304 R 1	46,540 1	not available	not available	38,632 1	not available
Receivables	11,599	10,805	11,137	12,344	not available	not available	15,484	not available
Inventory	51,637	49,961	50,235	47,187	not available	not available	45,096	not available
PP&E (net)	not available	not available	9,267 2	not available	not available	not available	8,987	not available
Goodwill and intangibles	not available	not available	542 2	not available	not available	not available	574	not available
Total assets	192,985	195,294	186,701	174,656	not available	not available	160,222	not available

Source: Emaar Properties financial statements Data as of 30 Jun 2026

R Restated or reclassified in Emaar Properties financial statements approved 6 Aug 2026; originally reported AED 52,633 m in Emaar Properties financial statements approved 12 Feb 2026.
Not available

1 Cash and cash equivalents only; short-term deposits are not included.

2 As presented in Emaar Properties financial statements approved 12 Feb 2026.

Totals may not add up because of rounding.

Swipe for earlier periods

Table 6 Emaar Properties liabilities and shareholders' equity, quarterly, Q3 2024–Q2 2026 (AED millions) AED millions · net cash shown as a negative net debt
AED m	Q2 2026at 30 Jun 2026	Q1 2026at 31 Mar 2026	Q4 2025at 31 Dec 2025	Q3 2025at 30 Sep 2025	Q2 2025at 30 Jun 2025	Q1 2025at 31 Mar 2025	Q4 2024at 31 Dec 2024	Q3 2024at 30 Sep 2024
Total debt	9,437 D	9,286 D	9,806 D	9,998 D	not available	not available	9,686 D	not available
Total liabilities	84,102	91,702	79,024	75,271	not available	not available	64,152	not available
Shareholders' equity	93,873	89,784	94,278	87,869	not available	not available	85,428	not available
Net debt / (net cash)	−41,957 D 1	−46,232 D 1	−43,498 R D 1	−36,542 D 1	not available	not available	−28,946 D 1	not available

Source: Emaar Properties financial statements Data as of 30 Jun 2026

D Total debt = short-term debt + long-term debt, from the same filing.
D Net debt = total debt minus cash and short-term investments; a negative value is net cash.
R Uses FY2025 cash and short-term investments as restated or reclassified in Emaar Properties financial statements approved 6 Aug 2026 (AED 53,304 m; originally reported AED 52,633 m in Emaar Properties financial statements approved 12 Feb 2026).
Not available

1 Uses cash and cash equivalents only; short-term deposits are not included.

Totals may not add up because of rounding.

Cash flow

Chart 2

Emaar Properties quarterly free cash flow, Q3 2024 to Q2 2026

AED bn · quarters ended 30 Sep 2024 to 30 Jun 2026

Source: Emaar Properties financial statements Data as of 30 Jun 2026

Annual

Swipe for earlier periods

Table 7 Emaar Properties cash flow, annual, FY2021–FY2025 (AED millions) AED millions · outflows shown with a minus sign
AED m	FY2025ended 31 Dec 2025	FY2024ended 31 Dec 2024	FY2023ended 31 Dec 2023	FY2022ended 31 Dec 2022	FY2021ended 31 Dec 2021
Cash from operations	33,458	24,481	19,831	18,942	10,561 R
Capital expenditure	−934	−534	−578	−960	−1,288 R
Free cash flow	32,524 D	23,948 D	19,253 D	17,982 D	9,273 R D
Dividends paid	−8,839	−4,419	−2,210	−1,227 1	−716
Cash from investing	−6,961	−2,270	−5,309	−2,532	−2,756 R
Cash from financing	−12,615	−8,760	−6,186	−5,970	−6,041 R

Source: Emaar Properties financial statements Data as of 30 Jun 2026

R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 10,759 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED −1,312 m in Emaar Properties financial statements approved 17 Mar 2022.
D Free cash flow = cash from operations minus capital expenditure.
R Uses FY2021 cash from operations as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 10,561 m; originally reported AED 10,759 m in Emaar Properties financial statements approved 17 Mar 2022).
R Uses FY2021 capital expenditure as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED −1,288 m; originally reported AED −1,312 m in Emaar Properties financial statements approved 17 Mar 2022).
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED −2,786 m in Emaar Properties financial statements approved 17 Mar 2022.
R Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED −6,151 m in Emaar Properties financial statements approved 17 Mar 2022.

1 As presented in Emaar Properties financial statements approved 16 Mar 2023.

Totals may not add up because of rounding.

Quarterly

Swipe for earlier periods

Table 8 Emaar Properties cash flow, quarterly, Q3 2024–Q2 2026 (AED millions) AED millions · outflows shown with a minus sign
AED m	Q2 2026ended 30 Jun 2026	Q1 2026ended 31 Mar 2026	Q4 2025ended 31 Dec 2025	Q3 2025ended 30 Sep 2025	Q2 2025ended 30 Jun 2025	Q1 2025ended 31 Mar 2025	Q4 2024ended 31 Dec 2024	Q3 2024ended 30 Sep 2024
Cash from operations	4,053 D	7,519	9,454 D	5,120 D	9,879 D	9,004	7,307 D	not available
Capital expenditure	−209 D	−272	−177 D	−356 D	−186 D	−215	−46 D	not available
Free cash flow	3,844 D	7,247 D	9,277 D	4,764 D	9,693 D	8,789 D	7,262 D	not available
Dividends paid	not available	not available	0 D	0 D	not available	not available	0 D	not available
Cash from investing	713 D	−3,671	−2,865 D	−3,350 D	−503 D	−243	−9,628 D	not available
Cash from financing	−9,696 D	−832	−500 D	−1,060 D	−10,731 D	−325	−486 D	not available

Source: Emaar Properties financial statements Data as of 30 Jun 2026

D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
D Free cash flow = cash from operations minus capital expenditure.
Not available

Totals may not add up because of rounding.

Per share and dividends

Swipe for earlier periods

Table 9 Emaar Properties per-share data and dividends, annual, FY2021–FY2025 AED per share, split-adjusted · shares in millions
AED	FY2025ended 31 Dec 2025	FY2024ended 31 Dec 2024	FY2023ended 31 Dec 2023	FY2022ended 31 Dec 2022	FY2021ended 31 Dec 2021
Basic EPS (AED)	1.99	1.53	1.32	0.83	0.52
Diluted EPS (AED)	1.99	1.53	1.32	0.83	0.52
FCF cover (×)	3.7×	5.4×	8.7×	14.7×	13.0× R

Source: Emaar Properties financial statements Data as of 30 Jun 2026

R Uses FY2021 cash from operations as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 10,561 m; originally reported AED 10,759 m in Emaar Properties financial statements approved 17 Mar 2022).
R Uses FY2021 capital expenditure as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED −1,288 m; originally reported AED −1,312 m in Emaar Properties financial statements approved 17 Mar 2022).

Notes on these figures

R Restated or reclassified
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 28,270 m in Emaar Properties financial statements approved 17 Mar 2022.
- Uses FY2021 revenue as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 27,896 m; originally reported AED 28,270 m in Emaar Properties financial statements approved 17 Mar 2022).
- Uses FY2021 revenue as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 27,896 m; originally reported AED 28,270 m in Emaar Properties financial statements approved 17 Mar 2022).
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 16,518 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 11,751 m in Emaar Properties financial statements approved 17 Mar 2022.
- Uses FY2021 gross profit as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 11,592 m; originally reported AED 11,751 m in Emaar Properties financial statements approved 17 Mar 2022).
- Uses FY2021 revenue as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 27,896 m; originally reported AED 28,270 m in Emaar Properties financial statements approved 17 Mar 2022).
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 4,072 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED −865 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 6,124 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 3,800 m in Emaar Properties financial statements approved 17 Mar 2022.
- Uses FY2021 net income as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 3,801 m; originally reported AED 3,800 m in Emaar Properties financial statements approved 17 Mar 2022).
- Restated or reclassified in Emaar Properties financial statements approved 6 Aug 2026; originally reported AED 52,633 m in Emaar Properties financial statements approved 12 Feb 2026.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 7,583 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 16,634 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 37,741 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 10,625 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 121,850 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 18,580 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 53,654 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 61,693 m in Emaar Properties financial statements approved 17 Mar 2022.
- Uses FY2025 cash and short-term investments as restated or reclassified in Emaar Properties financial statements approved 6 Aug 2026 (AED 53,304 m; originally reported AED 52,633 m in Emaar Properties financial statements approved 12 Feb 2026).
- Uses FY2021 total debt as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 17,872 m; originally reported AED 18,580 m in Emaar Properties financial statements approved 17 Mar 2022).
- Uses FY2021 cash and short-term investments as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 7,464 m; originally reported AED 7,583 m in Emaar Properties financial statements approved 17 Mar 2022).
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED 10,759 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED −1,312 m in Emaar Properties financial statements approved 17 Mar 2022.
- Uses FY2021 cash from operations as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED 10,561 m; originally reported AED 10,759 m in Emaar Properties financial statements approved 17 Mar 2022).
- Uses FY2021 capital expenditure as restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (AED −1,288 m; originally reported AED −1,312 m in Emaar Properties financial statements approved 17 Mar 2022).
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED −2,786 m in Emaar Properties financial statements approved 17 Mar 2022.
- Restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023; originally reported AED −6,151 m in Emaar Properties financial statements approved 17 Mar 2022.
D Derived by StockFactsheet
- Net interest = interest income − interest expense, both from the same filing.
- Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
- Total debt = short-term debt + long-term debt, from the same filing.
- Net debt = total debt minus cash and short-term investments; a negative value is net cash.
- Free cash flow = cash from operations minus capital expenditure.
- Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
Template: standard statement set (not bank or insurer).
Arrows show direction of change only, not whether a change is good or bad.

How we got these numbers

Every figure comes from Emaar Properties's published financial statements. Derived values are marked D and explained below.

Full method for this page

Source documents: Interim and annual financial statements (FY2021 to Q2 2026)
Period covered: 8 quarters and 5 fiscal years
Calculations: TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. CAGR = compound annual growth across the annual table.
Restatements: FY2021 revenue, an input of the FY2021 ratio, was restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (originally AED 28,270 m). FY2021 gross profit, an input of the FY2021 ratio, was restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (originally AED 11,751 m). FY2021 net income, an input of the FY2021 ratio, was restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (originally AED 3,800 m). FY2025 cash and short-term investments, an input of the FY2025 ratio, was restated or reclassified in Emaar Properties financial statements approved 6 Aug 2026 (originally AED 52,633 m). FY2021 total debt, an input of the FY2021 ratio, was restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (originally AED 18,580 m). FY2021 cash and short-term investments, an input of the FY2021 ratio, was restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (originally AED 7,583 m). FY2021 cash from operations, an input of the FY2021 ratio, was restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (originally AED 10,759 m). FY2021 capital expenditure, an input of the FY2021 ratio, was restated or reclassified in Emaar Properties financial statements approved 16 Mar 2023 (originally AED −1,312 m). Restated or reclassified figures carry the R marker; its footnote gives the originally reported value.
Comparator: None: this page shows the company's own figures only.
Currency: As reported (AED); no FX conversion.
Re-keying: Figures keyed from the issuer's published statements (PDF) with our entry tool, then checked by code against the PDF's own text (the figure on its cited page, in the row with its printed label) and by our fact-check step. The column and the sign are recorded, and lists any mismatch for review.

Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

Data as of 30 Jun 2026 Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

[1] Issuer statement Emaar Properties interim financial statements, H1 2026 Emaar Properties PJSC · approved 6 Aug 2026 · uae-cms.emaar.com
[2] Issuer statement Emaar Properties interim financial statements, Q1 2026 Emaar Properties PJSC · approved 8 May 2026 · uae-cms.emaar.com
[3] Issuer statement Emaar Properties annual financial statements, FY2025 Emaar Properties PJSC · approved 12 Feb 2026 · uae-cms.emaar.com
[4] Issuer statement Emaar Properties interim financial statements, M9 2025 Emaar Properties PJSC · approved 6 Nov 2025 · uae-cms.emaar.com
[5] Issuer statement Emaar Properties annual financial statements, FY2024 Emaar Properties PJSC · approved 14 Feb 2025 · uae-cms.emaar.com
[6] Issuer statement Emaar Properties annual financial statements, FY2023 Emaar Properties PJSC · approved 14 Mar 2024 · uae-cms.emaar.com
[7] Issuer statement Emaar Properties annual financial statements, FY2022 Emaar Properties PJSC · approved 16 Mar 2023 · uae-cms.emaar.com
[8] Issuer statement Emaar Properties annual financial statements, FY2021 Emaar Properties PJSC · approved 17 Mar 2022 · uae-cms.emaar.com
[9] Our dataset Keyed from Emaar Properties's Q2 2026 financial statements (PDF) and checked by code against the PDF's text; signed off on 5 Oct 2026.

Cite this page

StockFactsheet (2026). "Emaar Properties financial statements: income, balance sheet, cash flow." Signed off by OffScriptBySami. Updated 5 Oct 2026; data as of 30 Jun 2026. https://stockfactsheet.com/stocks/emaar-dfm/financials/

Not investment advice

For information only. StockFactsheet does not recommend buying, selling or holding any security. Figures can contain errors; always check the original filings. Full disclaimer

Author and editor

Signed off by OffScriptBySami on 5 Oct 2026 · How pages are checked

StockFactsheet is not a licensed investment adviser, broker or dealer, and does not give personal recommendations.

How this page was made

Data imported (the issuer's statements, 5 Oct 2026)
Drafted from our dataset only
Automated checks and review steps passed (5 Oct 2026)
Signed off and published by OffScriptBySami (5 Oct 2026, 16:49 GST)

Update history

5 Oct 2026 Published First published version.