Waha Capital

WAHA ADX Financials Shariah compliance: iStatus follows DFM's quarterly Shari'a compliant list (Q1 2026), screened under criteria approved by the DFM Fatwa & Shari'a Supervisory Board. Classification may change each quarter.
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Price (AED)1.97 +0.51%Close · 10 Nov 2026

Market Cap3.71B

Enterprise Value3.99B iRoughly what it would cost to buy the whole company.How it is worked out: the value of its shares (market cap) + its debt − the cash it holds.Why it matters: two companies can have the same share value but very different debt and cash. Enterprise value shows the full picture, so you can compare them fairly.Versus market cap: 1.08×, so it has more debt than cash.For this company: 3.71B + 572.08M debt − 291.17M cash = 3.99B (Q2 2026)Calculated · Q2 2026

P/E3.66

P/B0.77

Dividend Yield–

ROE21.09%

Volume: 610.8K0.46x 30-day average
Avg volume (30D): 1.33M

About the company

Waha Capital PJSC (Al Waha Capital) is an Abu Dhabi investment management company founded in 1997 and listed on the Abu Dhabi Securities Exchange since 2000. It invests its own capital alongside third-party investors through three businesses: Public Markets (emerging markets credit and equity funds run by Waha Investments), Private Investments (direct stakes across sectors such as healthcare, fintech, infrastructure and oil and gas) and Waha Land (industrial and logistics property in Abu Dhabi). Mubadala Investment Company is an anchor shareholder. From the fourth quarter of 2025 it reports as an investment entity, holding its subsidiaries at fair value instead of consolidating them.

Industry: Financials

www.wahacapital.ae ↗

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Year-end price history

Income Statement

Values in AED · click any row to chart the metric, click again to collapse

	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Net Investment Income	376.1M	72.0M	340.6M	152.3M	214.1M	202.2M	298.2M	450.5M	59.3M	257.6M
Revenue	39.1M	38.7M	33.2M	39.1M	41.4M	47.0M	41.5M	114.5M	48.0M	105.1M
Other Operating Income	13.9M	12.7M	13.1M	29.7M	17.1M	92.5M	4.1M	–	–	–
Selling, General & Admin	-103.0M	-76.9M	-88.7M	-108.3M	-93.6M	-115.3M	-96.9M	-132.0M	-45.7M	-75.1M
Depreciation & Amortization	4.5M	4.4M	4.6M	4.7M	4.3M	5.7M	5.7M	3.2M	1.8M	1.7M
Operating Income	326.1M	46.6M	298.2M	112.7M	178.9M	226.3M	246.9M	433.0M	61.6M	287.6M
EBITDA	330.6M	50.9M	302.8M	117.4M	183.2M	232.0M	252.5M	436.2M	63.3M	289.2M
Finance Income	18.0M	16.4M	27.3M	14.9M	20.8M	33.0M	24.5M	5.1M	5.1M	3.3M
Finance Costs	-80.5M	-88.5M	-82.9M	-57.1M	-76.6M	-52.2M	-36.9M	-11.3M	-10.2M	-10.0M
Other Income, Net	15.3M	5.0M	4.3M	82.6M	32.5M	3.2M	3.2M	242.8M	186,000.00	–
Share of Associates & JVs	2.4M	10.9M	3.4M	4.7M	4.0M	3.5M	1.7M	–	406,000.00	–
Pre-Tax Income	281.3M	-9.7M	250.4M	157.7M	159.7M	213.8M	239.4M	669.6M	57.0M	280.8M
Income Tax Expense	-221,000.00	-2.0M	-765,000.00	2.7M	-2.1M	-3.5M	635,000.00	-176,000.00	–	–
Net Income	281.1M	-11.7M	249.6M	160.4M	157.5M	210.3M	240.1M	669.4M	57.0M	280.8M
Net Income (Owners of Parent)	166.4M	38.3M	77.6M	99.0M	81.0M	127.7M	134.4M	669.4M	57.0M	280.8M
Non-Controlling Interests	114.7M	-50.0M	172.1M	61.4M	76.5M	82.6M	105.7M	–	–	–
EPS (AED)	0.09	0.02	0.04	0.05	0.04	0.07	0.07	0.36	0.03	0.15

Balance Sheet

Values in AED · click any row to chart the metric, click again to collapse

	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Cash & Equivalents	866.9M	1.2B	923.9M	1.2B	901.4M	1.1B	1.9B	904.3M	456.2M	186.1M	291.2M
Trade & Other Receivables	2.9B	1.7B	1.9B	1.7B	1.9B	2.2B	2.2B	1.8B	221.5M	249.9M	155.4M
Other Assets & Prepayments	468.5M	468.5M	468.5M	468.5M	468.5M	468.5M	–	–	–	–	–
Inventory	2.5M	2.6M	2.5M	2.7M	2.2M	2.6M	2.7M	3.0M	–	–	–
Other Financial Assets	8.7B	9.2B	9.8B	10.0B	10.3B	11.0B	10.0B	10.6B	4.9B	4.9B	5.2B
Investments in Associates & JVs	88.3M	90.7M	97.7M	96.5M	95.2M	86.4M	78.4M	82.1M	–	–	–
Property, Plant & Equipment	13.0M	11.7M	10.8M	10.6M	14.4M	19.9M	23.8M	29.8M	8.5M	12.7M	14.5M
Investment Properties	413.5M	417.8M	419.7M	419.7M	434.2M	435.1M	447.6M	447.6M	–	–	–
Right-of-Use Assets	23.4M	20.3M	49.6M	46.2M	42.7M	67.9M	63.0M	66.2M	30.8M	25.6M	24.8M
Intangible Assets	37.1M	37.3M	37.4M	38.3M	37.4M	37.6M	37.7M	38.3M	397,000.00	–	–
Total Assets	13.5B	13.1B	13.8B	14.0B	14.2B	15.4B	14.7B	14.0B	5.6B	5.4B	5.7B
Trade & Other Payables	672.4M	725.5M	491.3M	587.2M	307.6M	420.3M	657.9M	354.4M	218.5M	106.5M	155.0M
Deferred Tax Liabilities	3.3M	3.3M	3.3M	3.3M	3.3M	3.3M	4.5M	3.3M	–	–	–
Loans & Borrowings	6.0B	5.1B	5.7B	5.3B	5.4B	6.2B	4.8B	4.4B	543.0M	544.1M	544.9M
Lease Liabilities	21.4M	19.8M	48.5M	47.3M	41.1M	68.1M	64.6M	70.0M	34.2M	28.4M	27.2M
Other Liabilities	218.9M	179.7M	219.2M	219.8M	229.7M	328.0M	392.0M	341.8M	82,000.00	–	–
Total Debt	6.0B	5.1B	5.8B	5.3B	5.4B	6.3B	4.9B	4.5B	577.2M	572.6M	572.1M
Total Liabilities	6.9B	6.0B	6.5B	6.2B	6.0B	7.0B	5.9B	5.2B	795.8M	679.0M	727.0M
Share Capital	1.9B	1.9B	1.9B	1.9B	1.9B	1.9B	1.9B	1.9B	1.9B	1.9B	1.9B
Reserves	429.8M	569.5M	557.1M	560.8M	625.7M	631.7M	620.9M	629.3M	748.4M	754.3M	740.8M
Retained Earnings	1.4B	1.3B	1.3B	1.4B	1.4B	1.3B	1.5B	1.6B	2.2B	2.0B	2.3B
Equity (Owners of Parent)	3.8B	3.7B	3.7B	3.8B	4.0B	3.9B	4.0B	4.1B	4.8B	4.7B	4.9B
Non-Controlling Interests	2.9B	3.4B	3.5B	4.0B	4.3B	4.5B	4.8B	4.7B	–	–	–
Total Equity	6.7B	7.1B	7.3B	7.9B	8.3B	8.4B	8.8B	8.8B	4.8B	4.7B	4.9B

Cash Flow

Values in AED · click any row to chart the metric, click again to collapse

	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Operating Cash Flow	655,000.00	-99.4M	-40.2M	-423.4M	156.7M	105.9M	-153.7M	498.0M	-63.2M	137.0M
Investing Cash Flow	-5.2M	-2.7M	-1.9M	-4.9M	-7.6M	514.8M	-8.3M	-3.8M	-4.8M	-2.8M
Capital Expenditure	-5.2M	-2.7M	-1.9M	-4.9M	-7.6M	-5.5M	-8.3M	-3.8M	-4.8M	-2.8M
Financing Cash Flow	330.5M	-167.0M	271.5M	176.4M	45.7M	141.5M	-792.1M	-208.6M	-202.1M	-29.1M
Proceeds from Borrowings	12.4M	7.3M	434.2M	720.7M	110.3M	–	–	–	–	–
Repayment of Borrowings	-8.6M	-155.8M	-442.9M	-729.3M	-8.6M	–	-529.6M	-183.9M	–	–
Lease Payments	-1.7M	-3.6M	-2.0M	-6.5M	-2.2M	-3.1M	-2.9M	-964,000.00	-964,000.00	-964,000.00
Finance Costs Paid	-78.3M	-86.3M	-92.8M	-50.2M	-74.5M	-50.0M	-34.9M	-11.8M	-8.7M	-8.8M
Dividends Paid	–	-188.4M	–	–	-188.4M	–	–	–	-188.4M	–
Free Cash Flow	-4.5M	-102.0M	-42.0M	-428.3M	149.1M	100.5M	-161.9M	494.2M	-68.0M	134.2M

Market Information

2026-07-28 Q2 2026 Financial Results PDF ↓
2026-05-14 Q1 2026 Financial Results PDF ↓
2026-02-16 FY 2025 Financial Results PDF ↓
2025-11-05 Q3 2025 Financial Results PDF ↓
2025-07-31 Q2 2025 Financial Results PDF ↓
2025-05-15 Q1 2025 Financial Results PDF ↓
2025-02-14 FY 2024 Financial Results PDF ↓
2024-11-05 Q3 2024 Financial Results PDF ↓
2024-08-01 Q2 2024 Financial Results PDF ↓
2024-05-15 Q1 2024 Financial Results PDF ↓
2024-02-13 FY 2023 Financial Results PDF ↓

Waha Capital

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