# abrdn Emerging Markets ex-China Fund Inc. (AEF) fundamentals

Data as of 2026-09-08. AMEX, United States. Sector: Financial Services / Capital Markets. Price $9.83, market value $399 million.

## Valuation
- **P/E (trailing): 4.3×** (5-yr avg 9.2×, 3-yr avg 9.2×). abrdn Emerging Markets ex-China Fund Inc. trades at 4.3× trailing earnings, well below its own five-year average of 9.2×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 4.1×**. Each dollar of revenue is priced at 4.1×.
- **Price / book: 1.3×**. The shares trade at 1.3× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 24.5%** (5-yr avg 18.6%). Free cash flow equals 24.5% of the market value, above its five-year average of 18.6%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 23.3%**. The inverse of the P/E: 23.3% of the price is earned each year.

## Profitability
- **Net margin: 99.1%**. 99.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 30.8%**. 30.8% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on assets: 27.5%**. Each dollar of assets produces 27.5% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 365.1%**. Revenue grew 365.1% over the last year.
- **Free-cash-flow growth (3 yr): 56.1%/yr**. Free cash flow has compounded at 56.1% a year over three years.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: $76,106**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 8.20%** ($0.65 per share, trailing). abrdn Emerging Markets ex-China Fund Inc. yields 8.20%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 25%** (25% of free cash flow). 25% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 18.8%/yr** (1-yr 66.7%). The dividend has compounded at 18.8% a year over five years, doubling roughly every 4 years at that pace.

## Price and momentum
- **Total return (1 yr): 78.3%** (YTD 47.8%, 3-mo 12.8%). The shares are up 78.3% over twelve months including dividends.
- **From 52-week high: -3.1%** (58.5% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 63**. An RSI of 63 is neutral.
- **Beta (1 yr): 1.62** (volatility 31%). Beta of 1.62 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AEF · Page: https://foliofundamentals.com/stocks/aef

Not investment advice.