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Salik USD

Salik operates and maintains toll gates in Dubai, providing related civil, electrical, and system integration services, as well as parking payment solutions.

At a glance: strengths & risks
✗Revenue declining (-12% y/y, Q2 2026)✗Profit falling (-16% y/y, Q2 2026)

Sector: Toll infrastructure

AE_SALIK

Price chart

5.14 AEDDay -0.19%

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
5.14 AED · -0.19%
Market cap
10.5 bn USD

Growth

Δ revenue y/y
-12.0%
Δ EBITDA y/y
-14.1%

Multiples

P/E (LTM)
24.8x
3y avg: 29.6x
P/B (FY)
31.6x
P/E (ann.)
28.8x
EV/EBITDA (LTM)
—
3y avg: 23.2x
EV/EBITDA (ann.)
22.4x

Cash return

Dividend yield
4.2%
FCF yield (LTM)
—

Value creation

fundamental value/yr, % of market cap
Value created / year
+4.9%
↓ details

Liquidity

Daily turnover (listing)
6.9 mln AED

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

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)OK—
y/y -12.0%
—
y/y -15.1%
—
y/y 0.2%
—
y/y -14.1%
—
y/y -16.4%
—-123.32013.1
y/y -8.5%
432.4
y/y 28.2%
84.3%1051.7Link
2026-03-31Q1 2026 (3M)OK—
y/y -3.0%
—
y/y -2.6%
—
y/y 0.1%
—
y/y -2.4%
—
y/y -0.4%
——2295.5
y/y -0.8%
432.4
y/y 8.9%
105.3%649.3Link
2025-12-31Q4 2025 (3M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
—-0.32143.4
y/y -1.4%
331.8
y/y 12.0%
153.2%948.2Link
2025-09-30Q3 2025 (3M)OK—
y/y 36.9%
—
y/y 35.9%
—
y/y 68.7%
—
y/y 37.7%
—
y/y 34.5%
—0.02061.3
y/y 49.6%
220.3
y/y 107.5%
48.6%971.7Link
2025-06-30Q2 2025 (3M)OK—
y/y 45.6%
—
y/y 49.6%
—
y/y 71.2%
—
y/y 50.8%
—
y/y 49.6%
—-67.32199.4
y/y 53.7%
337.4
y/y 88.5%
118.7%983.9Link
2025-03-31Q1 2025 (3M)OK—
y/y 33.7%
—
y/y 35.8%
—
y/y 71.4%
—
y/y 37.8%
—
y/y 33.7%
—-135.52313.0
y/y 53.5%
397.2
y/y 55.2%
116.4%803.7Link
2024-12-31Q4 2024 (3M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
—0.02174.5
y/y 52.9%
296.3
y/y 64.2%
157.6%824.6Link
2024-09-30Q3 2024 (3M)OK—
y/y 7.3%
—
y/y 14.7%
—
y/y 2.3%
—
y/y 13.9%
—
y/y 8.8%
—0.01377.6
y/y 3.3%
106.1
y/y 6.1%
70.6%859.0Link
2024-06-30Q2 2024 (3M)OK—
y/y 3.1%
—
y/y 4.7%
—
y/y 1.8%
—
y/y 4.5%
—
y/y -1.9%
—-0.81430.5
y/y 1.5%
179.0
y/y -0.5%
134.0%963.4Link
2024-03-31Q1 2024 (3M)OK—
y/y 8.1%
—
y/y 8.8%
—
y/y 3.0%
—
y/y 8.4%
—
y/y 0.7%
—0.01506.5
y/y 2.9%
255.9
y/y 6.9%
138.4%889.0Link
2023-12-31Q4 2023 (3M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
—-67.81422.4
y/y —
180.4
y/y —
213.2%-72.5Report (PDF)
2023-09-30Q3 2023 (3M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
—-1.21333.0
y/y —
100.0
y/y —
66.1%1040.4Link
2023-06-30Q2 2023 (3M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
—0.01409.9
y/y —
179.8
y/y —
141.7%837.8Link
2023-03-31Q1 2023 (3M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
—0.01464.8
y/y —
239.4
y/y —
—786.9Link

Net debt structure (leases included, IFRS 16) 2023-12-31

Short-term debt (incl. ST leases)0
Long-term debt (incl. LT leases)0
− Cash & equivalents72
Net debt-72

Net debt / LTM EBITDA: -0.1x

Conversion to USD. Balance sheet: rate effective on 2026-06-30, fixing date unspecified. Flows: sampled average at each calculation period's bounds and monthly 15ths. Latest source row: 2026-04-01 — 2026-06-30. Source: open.er latest (not historical).

Cash flow

Net debt / cash ($ mln)

02505007501 0001 2502024 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 1.29x of reported net profit; after capex, 1.29x.
year2022202320242025
cash flow / profit1.14x1.32x1.26x1.34x
accruals, % of assets-3.6%-6.8%-3.7%-6.7%
Last twelve months (to 2026-06-30): 1.02x of profit came back as operating cash flow.
net debt / EBITDA 1.6x · capex 0.0x of depreciation
● Capex is 3% 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.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +4.9%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X
= —
-3
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (10 497 + 1 052) ÷ 580
19.9x
3. Target multiple
(Current EV/EBITDA + 10) ÷ 2
= (19.9 + 10) ÷ 2
15.0x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 154 + 0 + 0 − 0
569
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-3 × 15.0 + 569) ÷ 10 497
+4.9%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • LTM EBITDA = FY2025 + Q12026 - Q12025 (cumulative-YTD reporter); ΔEBITDA vs prior full year

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +35% vs +9% the year before — a +26.4 pp move. 3-year CAGR +18%.
revenue growth by year: 2023 +11% · 2024 +9% · 2025 +35%
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

Paid (completed)

DatePer shareDetailsStatusSource
2026-10-150.0939 AEDEx-dividend: 0.0939 AED per sharePaidYahoo Finance (ex-div)
2026-04-170.1187 AEDEx-dividend: 0.1187 AED per sharePaidYahoo Finance (ex-div)
2025-08-220.1028 AEDEx-dividend: 0.1028 AED per sharePaidYahoo Finance (ex-div)
2025-04-180.0826 AEDEx-dividend: 0.0826 AED per sharePaidYahoo Finance (ex-div)
2024-08-220.0726 AEDEx-dividend: 0.0726 AED per sharePaidYahoo Finance (ex-div)
2024-04-050.0733 AEDEx-dividend: 0.0733 AED per sharePaidYahoo Finance (ex-div)
2023-08-180.0731 AEDEx-dividend: 0.0731 AED per sharePaidYahoo Finance (ex-div)
2023-04-140.0655 AEDEx-dividend: 0.0655 AED per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.dfm.ae/issuers/listed-securities/securities/company-profile-page?securitysymbol=SALIK

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 Salik — from primary filings.

Frequently asked questions

What is Salik's P/E ratio?
Salik trades at a P/E of 24.8x (price to trailing 12-month earnings).
What is Salik's P/B ratio?
Salik trades at a P/B of 31.6x.
What is Salik's dividend yield?
Salik's trailing 12-month dividend yield is 4.2%.
What is Salik's return on equity (ROE)?
Salik's ROE is 84.3%.
What is Salik's market capitalization?
Salik's market cap is 10.5 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