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e& Overview
About e&
Emirates Telecommunications Group Co PJSC is a telecommunications company. Through its subsidiaries, the company provides telecommunication and consulting services, media services, and equipment to over sixteen countries in Asia and Africa. Etisalat specializes in fixed-line services, voice communication, wireless communication, and data communication services. The majority of the company's revenues profits and assets relates to its operations in the UAE.
Founded
1976
HQ
Employees
6.6K
Website
Sectors
Financials (LTM)
EV
$59B
e& Financials
e& reported last 12-month revenue of $20B and EBITDA of $9B.
In the same LTM period, e& generated $14B in gross profit, $9B in EBITDA, and $4B in net income.
Revenue (LTM)
e& P&L
In the most recent fiscal year, e& reported revenue of $20B and EBITDA of $11B.
e& expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $20B | XXX | $20B | XXX | XXX | XXX |
| Gross Profit | $14B | XXX | $13B | XXX | XXX | XXX |
| Gross Margin | 69% | XXX | 64% | XXX | XXX | XXX |
| EBITDA | $9B | XXX | $11B | XXX | XXX | XXX |
| EBITDA Margin | 44% | XXX | 57% | XXX | XXX | XXX |
| EBIT Margin | 27% | XXX | 29% | XXX | XXX | XXX |
| Net Profit | $4B | XXX | $4B | XXX | XXX | XXX |
| Net Margin | 19% | XXX | 20% | XXX | XXX | XXX |
| Net Debt | — | — | $9B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
e& Stock Performance
e& has current market cap of $48B, and enterprise value of $59B.
Market Cap Evolution
e&'s stock price is $5.52.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $59B | $48B | 0.0% | XXX | XXX | XXX | $0.45 |
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Start Free Triale& Valuation Multiples
e& trades at 2.9x EV/Revenue multiple, and 6.6x EV/EBITDA.
EV / Revenue (LTM)
e& Financial Valuation Multiples
As of March 7, 2026, e& has market cap of $48B and EV of $59B.
Equity research analysts estimate e&'s 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
e& has a P/E ratio of 12.4x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $48B | XXX | $48B | XXX | XXX | XXX |
| EV (current) | $59B | XXX | $59B | XXX | XXX | XXX |
| EV/Revenue | 2.9x | XXX | 3.0x | XXX | XXX | XXX |
| EV/EBITDA | 6.6x | XXX | 5.2x | XXX | XXX | XXX |
| EV/EBIT | 10.8x | XXX | 10.1x | XXX | XXX | XXX |
| EV/Gross Profit | 4.2x | XXX | 4.7x | XXX | XXX | XXX |
| P/E | 12.4x | XXX | 12.3x | XXX | XXX | XXX |
| EV/FCF | 16.3x | XXX | 16.1x | XXX | XXX | XXX |
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Verified e& Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
e& Margins & Growth Rates
e&'s revenue in the last 12 month grew by 8%.
e&'s revenue per employee in the last FY averaged $3.1M.
e&'s rule of 40 is 52% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
e&'s rule of X is 64% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
e& Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 8% | XXX | 8% | XXX | XXX | XXX |
| EBITDA Margin | 44% | XXX | 57% | XXX | XXX | XXX |
| EBITDA Growth | 7% | XXX | (17%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 52% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 64% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $3.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 2% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 34% | XXX | XXX | XXX |
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e& Public Comps
See public comps and valuation multiples for other Telecom Service Providers comps.
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e& M&A Activity
e& acquired XXX companies to date.
Last acquisition by e& was on XXXXXXXX, XXXXX. e& acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by e&
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free Triale& Investment Activity
e& invested in XXX companies to date.
e& made its latest investment on XXXXXXXX, XXXXX. e& invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by e&
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout e&
| When was e& founded? | e& was founded in 1976. |
| Where is e& headquartered? | e& is headquartered in United Arab Emirates. |
| How many employees does e& have? | As of today, e& has over 6K employees. |
| Is e& publicly listed? | Yes, e& is a public company listed on Abu Dhabi Securities Exchange. |
| What is the stock symbol of e&? | e& trades under EAND ticker. |
| When did e& go public? | e& went public in 2002. |
| Who are competitors of e&? | e& main competitors are Swisscom, Telstra, Orange, stc Group. |
| What is the current market cap of e&? | e&'s current market cap is $48B. |
| What is the current revenue of e&? | e&'s last 12 months revenue is $20B. |
| What is the current revenue growth of e&? | e& revenue growth (NTM/LTM) is 8%. |
| What is the current EV/Revenue multiple of e&? | Current revenue multiple of e& is 2.9x. |
| Is e& profitable? | Yes, e& is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of e&? | e&'s last 12 months EBITDA is $9B. |
| What is e&'s EBITDA margin? | e&'s last 12 months EBITDA margin is 44%. |
| What is the current EV/EBITDA multiple of e&? | Current EBITDA multiple of e& is 6.6x. |
| What is the current FCF of e&? | e&'s last 12 months FCF is $4B. |
| What is e&'s FCF margin? | e&'s last 12 months FCF margin is 18%. |
| What is the current EV/FCF multiple of e&? | Current FCF multiple of e& is 16.3x. |
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