Emirates Telecommunications Group Company (Etisalat Group) PJSC — Cyborg Score 7/10
Strong
Telecommunications
Strategic Profile
Etisalat specializes in fixed-line services, voice communication, wireless communication, and data communication services. The majority of the company's revenues, profits and assets relate to its operations in the UAE. The Group is structured around five core business pillars: e& UAE, e& international, e& life, e& enterprise and e& capital, each catering to distinct customer and market needs.
Cyborg Score Rationale
Current market cap is $49.5 billion with a stock price of $5.69 as of mid-February 2026. Strong revenue generation and diverse geographic footprint support competitive positioning, though regional market maturity and competitive pressures warrant monitoring.
Top Insights
The company has about 167 million total subscribers across approximately 20 countries in the Middle East, Africa, and Asia through subsidiaries and affiliates.
Etisalat owns a stake of 14.6% in Vodafone Group, one of Europe's largest telecommunication groups.
Emirates Telecom dividend yield was 5.09% in 2024, with a payout ratio of 67.13%.
Etisalat is one of the main Internet hubs in the Middle East (AS8966), providing connectivity to other telecommunications operators in the region.
Named Competitors
Zain Group — Pan-Arab telecom operator with presence across Middle East and Africa
MTN Group — Leading African and Middle Eastern telecommunications provider
Vodafone — European telecom giant (14.6% stake held by Etisalat)
Oman Telecommunications Company — Regional operator in Oman market
Recent Developments
(Q3 2025) E& reported revenue of AED 18.6 billion in Q3 2025.
(Q2 2025) E& reported revenue of AED 18 billion in Q2 2025.
(February 2026) EAND stock has risen 17.11% over the past year.
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