View ValuationDisway 将来の成長Future 基準チェック /06Disway利益と収益がそれぞれ年間10.2%と3.3%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に12.9% 10%なると予測されています。主要情報10.2%収益成長率10.01%EPS成長率Electronic 収益成長27.3%収益成長率3.3%将来の株主資本利益率12.90%アナリストカバレッジLow最終更新日19 Mar 2026今後の成長に関する最新情報Price Target Changed • Jul 22Price target increased by 14% to د.م788Up from د.م690, the current price target is an average from 2 analysts. New target price is 9.1% above last closing price of د.م723. Stock is up 5.0% over the past year. The company is forecast to post earnings per share of د.م48.10 for next year compared to د.م41.81 last year.Major Estimate Revision • May 04Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.م1.87b to د.م1.98b. EPS estimate increased from د.م41.63 to د.م48.10 per share. Net income forecast to grow 15% next year vs 27% growth forecast for Electronic industry in Morocco. Consensus price target up from د.م690 to د.م712. Share price was steady at د.م796 over the past week.Price Target Changed • Feb 24Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is 5.6% below last closing price of د.م720. Stock is up 2.6% over the past year. The company is forecast to post earnings per share of د.م35.33 for next year compared to د.م34.74 last year.Price Target Changed • Dec 25Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is 7.9% above last closing price of د.م630. Stock is down 5.3% over the past year. The company is forecast to post earnings per share of د.م36.30 for next year compared to د.م34.74 last year.Price Target Changed • Oct 24Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م666. Stock is down 4.2% over the past year. The company is forecast to post earnings per share of د.م36.30 for next year compared to د.م34.74 last year.Major Estimate Revision • Jun 28Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from د.م54.50 to د.م48.50. Revenue forecast unchanged from د.م1.98b at last update. Net income forecast to grow 57% next year vs 30% growth forecast for Electronic industry in Morocco. Consensus price target of د.م886 unchanged from last update. Share price fell 3.4% to د.م685 over the past week.すべての更新を表示Recent updatesReported Earnings • Apr 23Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: د.م45.32 (up from د.م41.81 in FY 2024). Revenue: د.م2.08b (up 9.0% from FY 2024). Net income: د.م85.5m (up 8.4% from FY 2024). Profit margin: 4.1% (in line with FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 10.0%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Declared Dividend • Apr 23Dividend increased to د.م44.00Dividend of د.م44.00 is 10% higher than last year. Ex-date: 24th June 2026 Payment date: 3rd July 2026 Dividend yield will be 5.7%, which is higher than the industry average of 2.0%. Sustainability & Growth The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 7.9% to bring the payout ratio under control. EPS is expected to grow by 23% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.お知らせ • Apr 22Disway S.A. announces Annual dividend, payable on July 03, 2026Disway S.A. announced Annual dividend of MAD 44.0000 per share payable on July 03, 2026, ex-date on June 24, 2026 and record date on June 23, 2026.お知らせ • Apr 21Disway S.A., Annual General Meeting, May 20, 2026Disway S.A., Annual General Meeting, May 20, 2026. Location: casablanca MoroccoNew Risk • Mar 17New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 97% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.New Risk • Oct 01New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (224% cash payout ratio).Valuation Update With 7 Day Price Move • Aug 13Investor sentiment improves as stock rises 18%After last week's 18% share price gain to د.م913, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 20x in the Electronic industry globally. Total returns to shareholders of 47% over the past three years.Price Target Changed • Jul 22Price target increased by 14% to د.م788Up from د.م690, the current price target is an average from 2 analysts. New target price is 9.1% above last closing price of د.م723. Stock is up 5.0% over the past year. The company is forecast to post earnings per share of د.م48.10 for next year compared to د.م41.81 last year.Upcoming Dividend • Jun 23Upcoming dividend of د.م40.00 per shareEligible shareholders must have bought the stock before 30 June 2025. Payment date: 09 July 2025. Payout ratio and cash payout ratio are on the higher end at 96% and 84% respectively. Trailing yield: 5.0%. Within top quartile of Moroccan dividend payers (4.4%). Higher than average of industry peers (1.8%).Major Estimate Revision • May 04Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.م1.87b to د.م1.98b. EPS estimate increased from د.م41.63 to د.م48.10 per share. Net income forecast to grow 15% next year vs 27% growth forecast for Electronic industry in Morocco. Consensus price target up from د.م690 to د.م712. Share price was steady at د.م796 over the past week.Declared Dividend • Apr 14Dividend increased to د.م40.00Dividend of د.م40.00 is 14% higher than last year. Ex-date: 25th June 2025 Payment date: 4th July 2025 Dividend yield will be 5.1%, which is higher than the industry average of 2.0%. Sustainability & Growth The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 6.3% to bring the payout ratio under control. However, EPS is expected to decline by 2.2% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.New Risk • Mar 10New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (94% payout ratio).Reported Earnings • Mar 10Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: د.م41.81 (up from د.م34.74 in FY 2023). Revenue: د.م1.93b (up 3.2% from FY 2023). Net income: د.م78.8m (up 20% from FY 2023). Profit margin: 4.1% (up from 3.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Price Target Changed • Feb 24Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is 5.6% below last closing price of د.م720. Stock is up 2.6% over the past year. The company is forecast to post earnings per share of د.م35.33 for next year compared to د.م34.74 last year.Price Target Changed • Dec 25Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is 7.9% above last closing price of د.م630. Stock is down 5.3% over the past year. The company is forecast to post earnings per share of د.م36.30 for next year compared to د.م34.74 last year.Price Target Changed • Oct 24Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م666. Stock is down 4.2% over the past year. The company is forecast to post earnings per share of د.م36.30 for next year compared to د.م34.74 last year.Major Estimate Revision • Jun 28Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from د.م54.50 to د.م48.50. Revenue forecast unchanged from د.م1.98b at last update. Net income forecast to grow 57% next year vs 30% growth forecast for Electronic industry in Morocco. Consensus price target of د.م886 unchanged from last update. Share price fell 3.4% to د.م685 over the past week.Upcoming Dividend • Jun 18Upcoming dividend of د.م35.00 per shareEligible shareholders must have bought the stock before 25 June 2024. Payment date: 04 July 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.0%. Within top quartile of Moroccan dividend payers (4.3%). Higher than average of industry peers (1.6%).Reported Earnings • Apr 21Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: د.م34.74 (down from د.م44.88 in FY 2022). Revenue: د.م1.87b (down 4.1% from FY 2022). Net income: د.م65.5m (down 23% from FY 2022). Profit margin: 3.5% (down from 4.3% in FY 2022). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.お知らせ • Apr 17Disway S.A., Annual General Meeting, May 17, 2024Disway S.A., Annual General Meeting, May 17, 2024. Agenda: To consider Approval of accounts; to consider Assignment of results.Reported Earnings • Mar 09Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: د.م34.74 (down from د.م44.88 in FY 2022). Revenue: د.م1.91b (down 2.1% from FY 2022). Net income: د.م65.5m (down 23% from FY 2022). Profit margin: 3.4% (down from 4.3% in FY 2022). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.Price Target Changed • Dec 27Price target increased by 9.3% to د.م833Up from د.م762, the current price target is provided by 1 analyst. New target price is 25% above last closing price of د.م665. Stock is down 1.5% over the past year. The company is forecast to post earnings per share of د.م42.20 for next year compared to د.م44.88 last year.Upcoming Dividend • Jun 15Upcoming dividend of د.م35.00 per share at 4.8% yieldEligible shareholders must have bought the stock before 22 June 2023. Payment date: 05 July 2023. Payout ratio is on the higher end at 78% but the company is not cash flow positive. Trailing yield: 4.8%. Within top quartile of Moroccan dividend payers (4.6%). Higher than average of industry peers (1.8%).Major Estimate Revision • May 18Consensus EPS estimates fall by 22%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from د.م2.05b to د.م2.02b. EPS estimate also fell from د.م50.10 per share to د.م39.00 per share. Net income forecast to shrink 13% next year vs 21% growth forecast for Electronic industry in Morocco . Consensus price target up from د.م722 to د.م743. Share price was steady at د.م719 over the past week.Reported Earnings • Sep 25First half 2022 earnings released: EPS: د.م27.71 (vs د.م32.57 in 1H 2021)First half 2022 results: EPS: د.م27.71 (down from د.م32.57 in 1H 2021). Revenue: د.م986.5m (up 5.4% from 1H 2021). Net income: د.م49.3m (down 16% from 1H 2021). Profit margin: 5.0% (down from 6.2% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Jun 17Upcoming dividend of د.م70.00 per shareEligible shareholders must have bought the stock before 24 June 2022. Payment date: 05 July 2022. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Moroccan dividend payers (4.3%). Higher than average of industry peers (2.1%).Reported Earnings • Apr 17Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: د.م60.26 (up from د.م46.07 in FY 2020). Revenue: د.م1.82b (up 6.7% from FY 2020). Net income: د.م107.6m (up 27% from FY 2020). Profit margin: 5.9% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 12%. Over the next year, revenue is forecast to grow 9.8%, compared to a 18% growth forecast for the industry in Morocco. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 46% per year.Reported Earnings • Mar 08Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: د.م60.26 (up from د.م46.07 in FY 2020). Revenue: د.م1.85b (up 8.0% from FY 2020). Net income: د.م107.6m (up 27% from FY 2020). Profit margin: 5.8% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 12%. Over the next year, revenue is forecast to grow 8.4%, compared to a 20% growth forecast for the industry in Morocco. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 44% per year.Reported Earnings • Sep 26First half 2021 earnings released: EPS د.م32.57 (vs د.م23.50 in 1H 2020)The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: د.م924.4m (up 12% from 1H 2020). Net income: د.م58.3m (up 34% from 1H 2020). Profit margin: 6.3% (up from 5.3% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jun 17Upcoming dividend of د.م35.00 per shareEligible shareholders must have bought the stock before 24 June 2021. Payment date: 05 July 2021. Trailing yield: 6.1%. Within top quartile of Moroccan dividend payers (4.7%). Higher than average of industry peers (1.4%).Price Target Changed • May 05Price target increased to د.م499Up from د.م445, the current price target is provided by 1 analyst. New target price is 13% below last closing price of د.م576. Stock is up 85% over the past year.Is New 90 Day High Low • Mar 08New 90-day high: د.م502The company is up 11% from its price of د.م452 on 08 December 2020. The Moroccan market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م341 per share.Reported Earnings • Mar 08Full year 2020 earnings released: EPS د.م46.07 (vs د.م36.44 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م1.72b (up 6.3% from FY 2019). Net income: د.م84.6m (up 24% from FY 2019). Profit margin: 4.9% (up from 4.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Analyst Estimate Surprise Post Earnings • Mar 08Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 0.8%. Earnings per share (EPS) also surpassed analyst estimates by 43%. Over the next year, revenue is forecast to grow 1.3%, compared to a 20% growth forecast for the Electronic industry in Morocco.Is New 90 Day High Low • Feb 09New 90-day high: د.م500The company is up 10.0% from its price of د.م455 on 11 November 2020. The Moroccan market is also up 10.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م334 per share.Is New 90 Day High Low • Jan 21New 90-day high: د.م469The company is up 16% from its price of د.م405 on 23 October 2020. The Moroccan market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م335 per share.Is New 90 Day High Low • Oct 29New 90-day high: د.م422The company is up 4.0% from its price of د.م407 on 29 July 2020. The Moroccan market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م208 per share.Reported Earnings • Sep 21First half earnings releasedOver the last 12 months the company has reported total profits of د.م71.3m, up 51% from the prior year. Total revenue was د.م1.65b over the last 12 months, up 1.5% from the prior year.業績と収益の成長予測CBSE:DWY - アナリストの将来予測と過去の財務データ ( )MAD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20282,253N/AN/AN/A212/31/20272,1951057592212/31/20262,065104104121112/31/20252,0768594110N/A9/30/20252,04590N/AN/AN/A6/30/20252,01494-23-16N/A3/31/20251,960873443N/A12/31/20241,9057990101N/A9/30/20241,84670N/AN/AN/A6/30/20241,78762196209N/A3/31/20241,82964170189N/A12/31/20231,87066144169N/A9/30/20231,88670N/AN/AN/A6/30/20231,90274104149N/A3/31/20231,92679-52-6N/A12/31/20221,95085-208-160N/A9/30/20221,91192N/AN/AN/A6/30/20221,87299N/AN/AN/A3/31/20221,848103N/AN/AN/A12/31/20211,8241088892N/A9/30/20211,816103N/AN/AN/A6/30/20211,80899N/AN/AN/A3/31/20211,75992N/AN/AN/A12/31/20201,70985149179N/A9/30/20201,67978N/AN/AN/A6/30/20201,64971189201N/A3/31/20201,63670136150N/A12/31/20191,6236884100N/A9/30/20191,62358N/AN/AN/A6/30/20191,62347N/AN/AN/A3/31/20191,65339N/AN/AN/A12/31/20181,68230N/A79N/A9/30/20181,67840N/AN/AN/A6/30/20181,67350N/AN/AN/A3/31/20181,67355N/AN/AN/A12/31/20171,67260N/A132N/A9/30/20171,72563N/AN/AN/A6/30/20171,77865N/AN/AN/A3/31/20171,79466N/AN/AN/A12/31/20161,80966N/A167N/A9/30/20161,75868N/AN/AN/A6/30/20161,70769N/AN/AN/A3/31/20161,67665N/AN/AN/A12/31/20151,64661N/A-48N/A9/30/20151,61755N/AN/AN/A6/30/20151,58848N/AN/AN/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: DWYの予測収益成長率 (年間10.2% ) は 貯蓄率 ( 15.1% ) を下回っています。収益対市場: DWYの収益 ( 10.2% ) MA市場 ( 21.6% ) よりも低い成長が予測されています。高成長収益: DWYの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: DWYの収益 ( 3.3% ) MA市場 ( 17.1% ) よりも低い成長が予測されています。高い収益成長: DWYの収益 ( 3.3% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: DWYの 自己資本利益率 は、3年後には低くなると予測されています ( 12.9 %)。成長企業の発掘7D1Y7D1Y7D1YTech 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/08 21:54終値2026/05/08 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Disway S.A. 2 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。3 アナリスト機関Kais KriaaAlphaMenaDounia FilaliBmce Capital BourseFayçal AllouchCFG Marches
Price Target Changed • Jul 22Price target increased by 14% to د.م788Up from د.م690, the current price target is an average from 2 analysts. New target price is 9.1% above last closing price of د.م723. Stock is up 5.0% over the past year. The company is forecast to post earnings per share of د.م48.10 for next year compared to د.م41.81 last year.
Major Estimate Revision • May 04Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.م1.87b to د.م1.98b. EPS estimate increased from د.م41.63 to د.م48.10 per share. Net income forecast to grow 15% next year vs 27% growth forecast for Electronic industry in Morocco. Consensus price target up from د.م690 to د.م712. Share price was steady at د.م796 over the past week.
Price Target Changed • Feb 24Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is 5.6% below last closing price of د.م720. Stock is up 2.6% over the past year. The company is forecast to post earnings per share of د.م35.33 for next year compared to د.م34.74 last year.
Price Target Changed • Dec 25Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is 7.9% above last closing price of د.م630. Stock is down 5.3% over the past year. The company is forecast to post earnings per share of د.م36.30 for next year compared to د.م34.74 last year.
Price Target Changed • Oct 24Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م666. Stock is down 4.2% over the past year. The company is forecast to post earnings per share of د.م36.30 for next year compared to د.م34.74 last year.
Major Estimate Revision • Jun 28Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from د.م54.50 to د.م48.50. Revenue forecast unchanged from د.م1.98b at last update. Net income forecast to grow 57% next year vs 30% growth forecast for Electronic industry in Morocco. Consensus price target of د.م886 unchanged from last update. Share price fell 3.4% to د.م685 over the past week.
Reported Earnings • Apr 23Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: د.م45.32 (up from د.م41.81 in FY 2024). Revenue: د.م2.08b (up 9.0% from FY 2024). Net income: د.م85.5m (up 8.4% from FY 2024). Profit margin: 4.1% (in line with FY 2024). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 10.0%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Apr 23Dividend increased to د.م44.00Dividend of د.م44.00 is 10% higher than last year. Ex-date: 24th June 2026 Payment date: 3rd July 2026 Dividend yield will be 5.7%, which is higher than the industry average of 2.0%. Sustainability & Growth The dividend has increased by an average of 8.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 7.9% to bring the payout ratio under control. EPS is expected to grow by 23% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.
お知らせ • Apr 22Disway S.A. announces Annual dividend, payable on July 03, 2026Disway S.A. announced Annual dividend of MAD 44.0000 per share payable on July 03, 2026, ex-date on June 24, 2026 and record date on June 23, 2026.
お知らせ • Apr 21Disway S.A., Annual General Meeting, May 20, 2026Disway S.A., Annual General Meeting, May 20, 2026. Location: casablanca Morocco
New Risk • Mar 17New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 97% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
New Risk • Oct 01New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (224% cash payout ratio).
Valuation Update With 7 Day Price Move • Aug 13Investor sentiment improves as stock rises 18%After last week's 18% share price gain to د.م913, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 20x in the Electronic industry globally. Total returns to shareholders of 47% over the past three years.
Price Target Changed • Jul 22Price target increased by 14% to د.م788Up from د.م690, the current price target is an average from 2 analysts. New target price is 9.1% above last closing price of د.م723. Stock is up 5.0% over the past year. The company is forecast to post earnings per share of د.م48.10 for next year compared to د.م41.81 last year.
Upcoming Dividend • Jun 23Upcoming dividend of د.م40.00 per shareEligible shareholders must have bought the stock before 30 June 2025. Payment date: 09 July 2025. Payout ratio and cash payout ratio are on the higher end at 96% and 84% respectively. Trailing yield: 5.0%. Within top quartile of Moroccan dividend payers (4.4%). Higher than average of industry peers (1.8%).
Major Estimate Revision • May 04Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.م1.87b to د.م1.98b. EPS estimate increased from د.م41.63 to د.م48.10 per share. Net income forecast to grow 15% next year vs 27% growth forecast for Electronic industry in Morocco. Consensus price target up from د.م690 to د.م712. Share price was steady at د.م796 over the past week.
Declared Dividend • Apr 14Dividend increased to د.م40.00Dividend of د.م40.00 is 14% higher than last year. Ex-date: 25th June 2025 Payment date: 4th July 2025 Dividend yield will be 5.1%, which is higher than the industry average of 2.0%. Sustainability & Growth The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 6.3% to bring the payout ratio under control. However, EPS is expected to decline by 2.2% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
New Risk • Mar 10New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (94% payout ratio).
Reported Earnings • Mar 10Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: د.م41.81 (up from د.م34.74 in FY 2023). Revenue: د.م1.93b (up 3.2% from FY 2023). Net income: د.م78.8m (up 20% from FY 2023). Profit margin: 4.1% (up from 3.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Price Target Changed • Feb 24Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is 5.6% below last closing price of د.م720. Stock is up 2.6% over the past year. The company is forecast to post earnings per share of د.م35.33 for next year compared to د.م34.74 last year.
Price Target Changed • Dec 25Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is 7.9% above last closing price of د.م630. Stock is down 5.3% over the past year. The company is forecast to post earnings per share of د.م36.30 for next year compared to د.م34.74 last year.
Price Target Changed • Oct 24Price target decreased by 11% to د.م680Down from د.م761, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م666. Stock is down 4.2% over the past year. The company is forecast to post earnings per share of د.م36.30 for next year compared to د.م34.74 last year.
Major Estimate Revision • Jun 28Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from د.م54.50 to د.م48.50. Revenue forecast unchanged from د.م1.98b at last update. Net income forecast to grow 57% next year vs 30% growth forecast for Electronic industry in Morocco. Consensus price target of د.م886 unchanged from last update. Share price fell 3.4% to د.م685 over the past week.
Upcoming Dividend • Jun 18Upcoming dividend of د.م35.00 per shareEligible shareholders must have bought the stock before 25 June 2024. Payment date: 04 July 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.0%. Within top quartile of Moroccan dividend payers (4.3%). Higher than average of industry peers (1.6%).
Reported Earnings • Apr 21Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: د.م34.74 (down from د.م44.88 in FY 2022). Revenue: د.م1.87b (down 4.1% from FY 2022). Net income: د.م65.5m (down 23% from FY 2022). Profit margin: 3.5% (down from 4.3% in FY 2022). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
お知らせ • Apr 17Disway S.A., Annual General Meeting, May 17, 2024Disway S.A., Annual General Meeting, May 17, 2024. Agenda: To consider Approval of accounts; to consider Assignment of results.
Reported Earnings • Mar 09Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: د.م34.74 (down from د.م44.88 in FY 2022). Revenue: د.م1.91b (down 2.1% from FY 2022). Net income: د.م65.5m (down 23% from FY 2022). Profit margin: 3.4% (down from 4.3% in FY 2022). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
Price Target Changed • Dec 27Price target increased by 9.3% to د.م833Up from د.م762, the current price target is provided by 1 analyst. New target price is 25% above last closing price of د.م665. Stock is down 1.5% over the past year. The company is forecast to post earnings per share of د.م42.20 for next year compared to د.م44.88 last year.
Upcoming Dividend • Jun 15Upcoming dividend of د.م35.00 per share at 4.8% yieldEligible shareholders must have bought the stock before 22 June 2023. Payment date: 05 July 2023. Payout ratio is on the higher end at 78% but the company is not cash flow positive. Trailing yield: 4.8%. Within top quartile of Moroccan dividend payers (4.6%). Higher than average of industry peers (1.8%).
Major Estimate Revision • May 18Consensus EPS estimates fall by 22%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from د.م2.05b to د.م2.02b. EPS estimate also fell from د.م50.10 per share to د.م39.00 per share. Net income forecast to shrink 13% next year vs 21% growth forecast for Electronic industry in Morocco . Consensus price target up from د.م722 to د.م743. Share price was steady at د.م719 over the past week.
Reported Earnings • Sep 25First half 2022 earnings released: EPS: د.م27.71 (vs د.م32.57 in 1H 2021)First half 2022 results: EPS: د.م27.71 (down from د.م32.57 in 1H 2021). Revenue: د.م986.5m (up 5.4% from 1H 2021). Net income: د.م49.3m (down 16% from 1H 2021). Profit margin: 5.0% (down from 6.2% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Electronic industry. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Jun 17Upcoming dividend of د.م70.00 per shareEligible shareholders must have bought the stock before 24 June 2022. Payment date: 05 July 2022. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Moroccan dividend payers (4.3%). Higher than average of industry peers (2.1%).
Reported Earnings • Apr 17Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: د.م60.26 (up from د.م46.07 in FY 2020). Revenue: د.م1.82b (up 6.7% from FY 2020). Net income: د.م107.6m (up 27% from FY 2020). Profit margin: 5.9% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 12%. Over the next year, revenue is forecast to grow 9.8%, compared to a 18% growth forecast for the industry in Morocco. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 46% per year.
Reported Earnings • Mar 08Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: د.م60.26 (up from د.م46.07 in FY 2020). Revenue: د.م1.85b (up 8.0% from FY 2020). Net income: د.م107.6m (up 27% from FY 2020). Profit margin: 5.8% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 12%. Over the next year, revenue is forecast to grow 8.4%, compared to a 20% growth forecast for the industry in Morocco. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 44% per year.
Reported Earnings • Sep 26First half 2021 earnings released: EPS د.م32.57 (vs د.م23.50 in 1H 2020)The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: د.م924.4m (up 12% from 1H 2020). Net income: د.م58.3m (up 34% from 1H 2020). Profit margin: 6.3% (up from 5.3% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jun 17Upcoming dividend of د.م35.00 per shareEligible shareholders must have bought the stock before 24 June 2021. Payment date: 05 July 2021. Trailing yield: 6.1%. Within top quartile of Moroccan dividend payers (4.7%). Higher than average of industry peers (1.4%).
Price Target Changed • May 05Price target increased to د.م499Up from د.م445, the current price target is provided by 1 analyst. New target price is 13% below last closing price of د.م576. Stock is up 85% over the past year.
Is New 90 Day High Low • Mar 08New 90-day high: د.م502The company is up 11% from its price of د.م452 on 08 December 2020. The Moroccan market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م341 per share.
Reported Earnings • Mar 08Full year 2020 earnings released: EPS د.م46.07 (vs د.م36.44 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م1.72b (up 6.3% from FY 2019). Net income: د.م84.6m (up 24% from FY 2019). Profit margin: 4.9% (up from 4.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Analyst Estimate Surprise Post Earnings • Mar 08Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 0.8%. Earnings per share (EPS) also surpassed analyst estimates by 43%. Over the next year, revenue is forecast to grow 1.3%, compared to a 20% growth forecast for the Electronic industry in Morocco.
Is New 90 Day High Low • Feb 09New 90-day high: د.م500The company is up 10.0% from its price of د.م455 on 11 November 2020. The Moroccan market is also up 10.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م334 per share.
Is New 90 Day High Low • Jan 21New 90-day high: د.م469The company is up 16% from its price of د.م405 on 23 October 2020. The Moroccan market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م335 per share.
Is New 90 Day High Low • Oct 29New 90-day high: د.م422The company is up 4.0% from its price of د.م407 on 29 July 2020. The Moroccan market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م208 per share.
Reported Earnings • Sep 21First half earnings releasedOver the last 12 months the company has reported total profits of د.م71.3m, up 51% from the prior year. Total revenue was د.م1.65b over the last 12 months, up 1.5% from the prior year.