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Borouge USD

At a glance: strengths & risks
✗Profit falling (-11%)✗Margins compressing (41%→37%)

Sector: Petrochemicals

AE_BOROUGE

Price chart

2.41 AEDDay —

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
2.41 AED
Market cap
19.7 bn USD

Growth

Δ revenue y/y
7.7%
Δ EBITDA y/y
-10.6%

Multiples

P/E (LTM)
20.5x
P/B (FY)
4.8x
P/E (ann.)
25.8x
EV/EBITDA (LTM)
12.2x
EV/EBITDA (ann.)
14.5x

Cash return

Dividend yield
—
FCF yield (LTM)
5.4%

Liquidity

Daily turnover
—

Shares: connector/market_inputs

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK1406.0
y/y 7.7%
293.3
y/y -2.9%
101.3
y/y -27.4%
394.7
y/y -10.6%
191.0
y/y -0.4%
179.0-64.58595.8
y/y 1.1%
3748.0
y/y -11.1%
19.1%3206.3Link
2026-03-31Q1 2026 (3M)OK1175.2
y/y -17.2%
244.3
y/y -43.1%
98.7
y/y -26.8%
343.0
y/y -39.2%
154.7
y/y -44.5%
225.5-47.28604.1
y/y -4.6%
4245.6
y/y -10.7%
14.8%2582.4Link
2025-12-31Q4 2025 (3M)OK1675.7
y/y 3.4%
510.7
y/y 0.2%
70.9
y/y -45.1%
581.5
y/y -9.0%
326.6
y/y 0.2%
395.6-67.08489.1
y/y -2.5%
4115.7
y/y -8.2%
27.4%2697.0Link
2025-09-30Q3 2025 (3M)OK1447.2
y/y -9.5%
453.2
y/y -10.6%
112.0
y/y -19.5%
565.2
y/y -12.5%
292.1
y/y -9.9%
543.7-39.28238.9
y/y -4.4%
3821.9
y/y -7.8%
9.7%2755.9Link
2025-06-30Q2 2025 (3M)OK1305.3
y/y -13.2%
302.1
y/y -36.7%
139.5
y/y 2.5%
441.6
y/y -28.0%
191.7
y/y -37.0%
553.8-128.78504.9
y/y -3.0%
4215.4
y/y -5.8%
17.1%2534.2Link
2025-03-31Q1 2025 (3M)OK1419.6
y/y 9.0%
429.6
y/y -0.1%
134.9
y/y -1.6%
564.5
y/y -0.5%
278.8
y/y 3.0%
427.9-40.79023.4
y/y -1.8%
4751.9
y/y 14.0%
24.2%2189.7Link
2024-12-31Q4 2024 (3M)OK1621.0
y/y 8.3%
509.7
y/y 12.2%
129.1
y/y -4.9%
638.7
y/y 8.3%
326.1
y/y 14.3%
535.6-75.78707.5
y/y -2.6%
4482.1
y/y -1.4%
28.4%2531.6Link
2024-09-30Q3 2024 (3M)OK1600.0
y/y 6.9%
507.0
y/y 12.9%
139.2
y/y -2.9%
646.2
y/y 9.1%
324.1
y/y 16.1%
438.6-38.78617.3
y/y -2.6%
4147.0
y/y -2.7%
10.0%2950.3Link
2024-06-30Q2 2024 (3M)OK1503.0
y/y 6.1%
477.4
y/y 29.5%
136.1
y/y -8.8%
613.5
y/y 18.4%
304.5
y/y 33.0%
344.8-31.48772.2
y/y -3.6%
4477.2
y/y -3.4%
28.2%2647.4Link
2024-03-31Q1 2024 (3M)OK1302.2
y/y -5.8%
429.9
y/y 31.5%
137.1
y/y 2.9%
567.1
y/y 23.2%
270.6
y/y 36.8%
594.1-14.49185.8
y/y -0.3%
4168.4
y/y -5.6%
24.8%2259.2Link
2023-12-31Q4 2023 (3M)OK1497.1
y/y —
454.1
y/y —
135.7
y/y —
589.8
y/y —
285.3
y/y —
362.9-70.78943.9
y/y —
4545.8
y/y —
22.5%2799.4Link
2023-09-30Q3 2023 (3M)OK1496.4
y/y —
449.0
y/y —
143.4
y/y —
592.4
y/y —
279.1
y/y —
710.2-18.28850.5
y/y —
4261.0
y/y —
8.4%3015.2Link
2023-06-30Q2 2023 (3M)OK1416.1
y/y —
368.7
y/y —
149.3
y/y —
518.0
y/y —
229.0
y/y —
186.0-20.19099.2
y/y —
4634.4
y/y —
20.2%3004.9Link
2023-03-31Q1 2023 (3M)OK1381.7
y/y —
327.0
y/y —
133.2
y/y —
460.2
y/y —
197.8
y/y —
509.6-82.59213.4
y/y —
4414.4
y/y —
—3113.2Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

05001 0001 5002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-40%-20%0%20%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

02004006002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

01 0002 0003 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Worth a look
In a typical year of 2022–2025 operating cash flow came to 1.77x of reported net profit; after capex, 1.55x.
year2022202320242025
cash flow / profit1.87x1.78x1.56x1.76x
accruals, % of assets-6.6%-8.7%-7.9%-9.8%
Last twelve months (to 2026-06-30): 1.39x of profit came back as operating cash flow.
net debt / EBITDA 1.2x · capex 0.4x of depreciation
● Capex is 41% of depreciation - the asset base is being consumed faster than replaced.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -3% vs +4% the year before — a -7.0 pp move. 3-year CAGR -8%.
revenue growth by year: 2023 -24% · 2024 +4% · 2025 -3%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

No dividend rows found for this issuer.

Investor reporting (IR): https://www.adx.ae/en/main-market/company-profile/financial-reports?symbols=BOROUGE

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Borouge — from primary filings.

Frequently asked questions

What is Borouge's P/E ratio?
Borouge trades at a P/E of 20.5x (price to trailing 12-month earnings).
What is Borouge's EV/EBITDA?
Borouge trades at 12.2x EV/EBITDA.
What is Borouge's P/B ratio?
Borouge trades at a P/B of 4.8x.
What is Borouge's return on equity (ROE)?
Borouge's ROE is 19.1%.
What is Borouge's market capitalization?
Borouge's market cap is 19.7 bn USD.

See also: UAE Stocks (2026): Tax-Free Dividends in Dubai and Abu Dhabi · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map