Stock

Emirates NBD Bank PJSC

EMIRATESNBD.AE

Banks - Regional · Financial Services

Price

$31.56

+1.28 (+4.23%)

Market Cap

$199.35B

Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Sep 12, 2026 · filings through Jun 30, 2026

§How the score breaks down

Growth

Good

Valuation

Strong

Dividends

Strong

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§Winston Score History

The full picture

Emirates NBD is one of the largest banking groups in the Middle East, headquartered in Dubai, United Arab Emirates. It offers everyday banking services like savings accounts, loans, credit cards, and mortgages to individuals and businesses. The bank is majority-owned by the Dubai government's Investment Corporation, making it a key financial institution tied to the emirate's economy.

Emirates NBD makes money primarily from the interest it earns on loans minus what it pays depositors, along with fees from wealth management, trade finance, and digital banking services. It operates across the UAE, Saudi Arabia, Egypt, Turkey, and several other markets in Asia and Europe. Its government backing and dominant market share in Dubai give it a strong competitive position. Key growth drivers include expansion in Saudi Arabia and Egypt, though the bank faces risks from regional geopolitical tensions and its exposure to real estate cycles in the Gulf.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+10.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+2.0% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

0 AED/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

61.1%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

990.9B AED cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Emirates NBD Bank PJSC is a rare growth stock that's already generating positive cash flow while growing at 10%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 6.31B (2021) → 6.31B (2025)

Score breakdown

Every number that matters to educated investors.

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Bank Quality

Not applicable for this business.

Growth

Sales growth

Sales YoY

+13.5%

Fast-growing sales (+13.5% YoY)

Profit growth

EPS YoY

+11.5%

Earnings growing (+11.5% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Capital Strength

Not applicable for this business.

Asset Quality

Not applicable for this business.

Valuation

Price vs profit

P/E Ratio (TTM)

8.4x

Attractive valuation — P/E 8.4

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

+1.9

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

3.30%

Moderate income — 3.30% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+125.6%

Dividend growing fast (125.6% YoY)

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