Emaar The Economic City (4220) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Emaar The Economic City stock SAR 7.44, price SAR 8.50, upside -12.5%, quality 52 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 27, 2026.
How to read this chart
60‑month range 7.90 SAR – 29.59 SAR · fair‑value band 2.19 SAR – 16.38 SAR · the 8.50 SAR price screens above the 7.44 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 27, 2026.
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Emaar The Economic City engages in the development of real estate properties in the economic or other zones in the Kingdom of Saudi Arabia. It operates in five segments: Residential Business, Industrial Development, Hospitality and Leisure, Education Services, and City Operations.
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The company primarily develops the King Abdullah Economic City. It also develops infrastructure; promotes, markets, and sells land within development areas; transfers/leases land; develops buildings/housing units; and constructs properties on behalf of other parties.
In addition, the company sells/leases land, and units for residential and commercial purpose; and operates schools and colleges, hotels, resorts, other leisure clubs, and technical institutions, as well as utilities and other city management services.
Further, it owns, purchase, sale, investment, development, and markets real estate properties. The company was incorporated in 2006 and is based in King Abdullah Economic City, the Kingdom of Saudi Arabia.
Stock analysis
Emaar The Economic City (4220) currently trades at 8.50 SAR, while our model-based Fair Value estimate is 7.44 SAR, 12.5% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the data coverage at low.
Scenario range: 2.19 SAR (bear) to 16.38 SAR (bull), the price of 8.50 SAR sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Emaar The Economic City reported revenue of 1.1B SAR in FY2025 versus 372M SAR in FY2021, a compound +32.2%/yr. Reported net income was −9.0M SAR in FY2025.
Key figures
Market cap 7.1B SAR (≈ $1.9B) Small · P/E ratio 121.4 · P/S ratio 6.34 · EPS (TTM) 0.0700 SAR · Net margin −0.8% · Return on equity 0.1% · Return on assets (EBIT) −0.5% · Operating margin 52.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (medium confidence).
What moves the price
The share trades about 33% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −11% fair-value upside, at −12%, 4220 screens richer than that median.
Fair Value models
Bear2.19 SARFair Value 7.44 SARBull16.38 SAR
Price 8.50 SAR · Upside -12.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0579 SAR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+167.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+46.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.8%
Start year 2020 (pandemic). Over 10 years: +1.1% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.7%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−190.7% (2020) → −32.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Development · 578 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside−12.5% · Below median
Profitability
Return on equity (12 months)0.1% · Below median
Return on assets−0.1% · Below median
Net margin (12 months)0.4% · Below median
Operating margin (12 months)52.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)7.2% · Above median
Balance sheet
Debt / equity0.43× · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Emaar The Economic City Fair Value". https://www.fairvalue-calculator.com/stock/4220
Frequently asked questions
Is Emaar The Economic City (4220) overvalued or undervalued?
As of Oct 27, 2026, our model estimates a fair value of 7.44 SAR versus a price of 8.50 SAR, about −12% upside (overvalued).
What is the fair value of 4220?
Our model-based fair value for Emaar The Economic City is 7.44 SAR (as of Oct 27, 2026), built from audited fundamentals. The current price: 8.50 SAR.
What is the quality score of 4220?
Emaar The Economic City has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Emaar The Economic City (4220)?
Our model-based price target is the fair value of 7.44 SAR (as of Oct 27, 2026) from 2 valuation models. Cautious scenario 2.19 SAR, optimistic scenario 16.38 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the Emaar The Economic City stock forecast for 2026?
Our models put fair value at 7.44 SAR, about −12% upside versus a price of 8.50 SAR (overvalued). Cautious scenario 2.19 SAR, optimistic scenario 16.38 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of Emaar The Economic City (4220)?
Emaar The Economic City reported trailing-twelve-month revenue of about 1.1B SAR (latest available figure, as of Oct 27, 2026).
What is the intrinsic value of Emaar The Economic City (4220)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Emaar The Economic City it is 7.44 SAR per share (as of Oct 27, 2026), against a price of 8.50 SAR. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Emaar The Economic City stock overvalued or undervalued in 2026?
As of Oct 27, 2026, 4220 trades above its calculated fair value: price 8.50 SAR, fair value 7.44 SAR, a gap of about −12% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 4220?
No. The price is what the market pays today (8.50 SAR); the fair value is what the company's own numbers justify (7.44 SAR). For Emaar The Economic City the two are 1.06 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is Emaar The Economic City worth?
The market values Emaar The Economic City at about 7.1B SAR (market capitalisation, as of Oct 27, 2026). Per share that is 8.50 SAR; our models calculate a fair value of 7.44 SAR per share.
What do the bullish and bearish scenarios say about 4220?
Our models span a range for Emaar The Economic City: cautious scenario 2.19 SAR, base 7.44 SAR, optimistic 16.38 SAR per share (as of Oct 27, 2026, price 8.50 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4220?
Emaar The Economic City trades at a price-to-earnings ratio of 121.4 (as of Oct 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 7.44 SAR is built from several models across several years. Other multiples: P/B 0.2, P/S 1.7, EV/EBITDA 15.1.
How solid is the balance sheet of Emaar The Economic City (4220)?
Balance-sheet figures for Emaar The Economic City (as of Oct 27, 2026): return on equity 0.1%, debt of 0.43 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 4220 from its 52-week high?
Emaar The Economic City trades at 8.50 SAR, about 33% below its 52-week high of 12.74 SAR and 8% above the low of 7.90 SAR (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of 7.44 SAR is for.
Which stocks are comparable to Emaar The Economic City?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, Vinhomes Joint Stock Company, CK Asset Holdings, Hongkong Land Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Emaar The Economic City stock attractive at the current price?
The data as of Oct 27, 2026: price 8.50 SAR, calculated fair value 7.44 SAR (−12%), Quality Score 52/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 4220 calculated?
We run Emaar The Economic City through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 7.44 SAR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.4 % above its aggregate fair value. Emaar The Economic City itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Emaar The Economic City (4220)?
The closing price on Oct 28, 2026 was 8.50 SAR. Our model-based fair value is 7.44 SAR, about −12% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Emaar The Economic City right now?
The model range is unusually wide (2.19 SAR to 16.38 SAR). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Emaar The Economic City
How large is the market capitalisation of Emaar The Economic City (4220)?
The market capitalisation of Emaar The Economic City is 7.1B SAR (≈ $1.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Emaar The Economic City (4220)?
The price-to-sales ratio of Emaar The Economic City is 6.34 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Emaar The Economic City (4220)?
Earnings per share at Emaar The Economic City are 0.0700 SAR (price ÷ EPS = P/E 121.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Emaar The Economic City (4220)?
The net margin of Emaar The Economic City is −0.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Emaar The Economic City (4220)?
The return on equity (ROE) of Emaar The Economic City is 0.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Emaar The Economic City (4220)?
On an EBIT basis the return on assets of Emaar The Economic City is −0.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Emaar The Economic City (4220)?
The operating margin of Emaar The Economic City is 52.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Emaar The Economic City (4220)?
Revenue at Emaar The Economic City is growing +7.2% versus a year earlier (3y avg +46.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Emaar The Economic City (4220)?
Earnings per share at Emaar The Economic City are growing +14.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Emaar The Economic City (4220) generate?
The free cash flow of Emaar The Economic City is −188M SAR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Emaar The Economic City (4220) carry?
The net debt of Emaar The Economic City is 4.1B SAR (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Oct 27, 2026