Showing 9 of 17
  • UAE Flag
    FIRST LOOK NOTES
    30 Jul 2026
    Waha Capital
    BUY
    AED 1.75
    AED 2.20
    +25.71%

    UAE Equity Research - Waha Capital Company 2Q26 - First Look Note

    Effective 1 October 2025, Waha Capital updated its financial reporting framework to better align with its investment-led structure, presenting investments at fair value instead of consolidating them line by line. Total AUM stood at c. AED 13.9 Bn as of 2Q26, including third party AUM of c. AED 8.5 Bn (USD 2.3 Bn), following net inflows of over USD 300 Mn during 1H26.
  • UAE Flag
    EARNINGS CALL INSIGHT
    30 Jul 2026
    Waha Capital
    BUY
    AED 1.77
    AED 2.20
    +24.29%

    UAE Equity Research - Waha Capital 2Q26 - Earnings Call Insight

    Waha's total income decreased 4.0% YOY to AED 366 Mn in 2Q26. Public Markets income increased to AED 337 Mn in 2Q26 from AED 223 Mn in 2Q25, driven by AED 105 Mn in fee income and AED 231 Mn in net mark-to-market gains, more than offsetting the absence of income from consolidated Public Market funds.
  • UAE Flag
    FIRST LOOK NOTES
    23 Feb 2026
    Waha Capital
    HOLD
    AED 2.15
    AED 2.20
    +2.33%

    UAE Equity Research - Al Waha Capital 4Q25 - First Look Note

    Effective 1 October 2025, Waha Capital updated its financial reporting framework to better align with its investment-led structure, presenting investments at fair value instead of consolidating them line by line. Total Assets under Management (AUM) stood at c. AED 10.8 Bn in 4Q25, including third party AUM of AED 7.1 Bn,
  • UAE Flag
    FIRST LOOK NOTES
    13 Aug 2025
    Waha Capital
    BUY
    AED 1.64
    AED 2.00
    +21.95%

    UAE Equity Research - Al Waha Capital 2Q25 - First Look Note

    Total income rose from AED 156 Mn in 2Q24 to AED 381 Mn in 2Q25, attributed to growth in income from Public Markets and WAHA Land. The Group’s AUM reached AED 12.6 Bn in 2Q25, owing to a significant inflow of capital into Waha Investment’s credit and equity funds.
  • UAE Flag
    FIRST LOOK NOTES
    23 May 2025
    Waha Capital
    BUY
    AED 1.48
    AED 1.84
    +24.32%

    UAE Equity Research - Al Waha Capital PJSC 1Q25 - First Look Note

    Total income declined 29.0% YOY to AED 330 Mn in 1Q25, due to a substantial decline in income from Financial Investments. Total AUMs rose from AED 11.9 Bn in 2024 to AED 12.3 Bn in 1Q25. Public market third-party AUM stood at AED 7.2 Bn in 1Q25 compared to 6.0 Bn in 1Q24.
  • UAE Flag
    FIRST LOOK NOTES
    28 Feb 2025
    Waha Capital
    BUY
    AED 1.59
    AED 1.84
    +15.72%

    UAE Equity Research - Al Waha Capital 4Q24 - First Look Note

    Waha’s total AUMs grew from AED 11.4 Bn in 3Q24 to AED 11.9 Bn in 4Q24. Public market third-party AUM grew to AED 6.9 Bn in 4Q24, while Private investment AUMs stood at AED 648 Mn. Waha successfully secured a new revolving credit line of AED 1.5 Bn, extendable to AED 1.8 Bn, which is expected to enhance its financial flexibility.
  • UAE Flag
    FIRST LOOK NOTES
    14 Nov 2024
    Waha Capital
    BUY
    AED 1.48
    AED 1.75
    +18.24%

    UAE Equity Research - Waha Capital 3Q24 - First Look Note

    Waha’s total AUMs grew to AED 11.4 Bn in 3Q24, up from AED 10.4 Bn in 4Q23.The Group secured AED 1.2 Bn in new third-party capital from institutional investors in 9M24. Public market third-party AUM grew to AED 6.6 Bn in 3Q24, while Private investment AUMs stood at AED 671 Mn. Waha successfully secured a new revolving credit line of AED 1.5 Bn, extendable to AED 1.8 Bn in 3Q24, enhancing its financial flexibility.
  • UAE Flag
    FIRST LOOK NOTES
    12 Oct 2024
    Waha Capital
    ACCUMULATE
    AED 1.58
    AED 1.75
    +10.76%

    Losses in public market impacted profitability

    Total assets under management grew to AED 10.9 Bn in 2Q24, up from AED 10.5 Bn in 4Q23.
  • UAE Flag
    FIRST LOOK NOTES
    04 Jun 2024
    Waha Capital
    BUY
    AED 1.41
    AED 1.72
    +21.99%

    Healthy growth in Public Market business and higher fee income supported profitability

    Al Waha Capital PJSC (the Group/Waha) recorded an increase in the net profit to AED 166 Mn in 1Q24 as compared to AED 75 Mn in 1Q23, higher than our estimate of AED 76 Mn.

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