View ValuationCrédit du Maroc 향후 성장Future 기준 점검 0/6Crédit du Maroc (는) 각각 연간 9.1% 및 10% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 12% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 12.3% 로 예상됩니다.핵심 정보9.1%이익 성장률12.02%EPS 성장률Banks 이익 성장7.4%매출 성장률10.0%향후 자기자본이익률12.35%애널리스트 커버리지Low마지막 업데이트20 May 2026최근 향후 성장 업데이트Price Target Changed • Aug 18Price target increased by 18% to د.م1,114Up from د.م946, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م1,090. Stock is up 17% over the past year. The company is forecast to post earnings per share of د.م84.00 for next year compared to د.م68.09 last year.Price Target Changed • Jun 13Price target increased by 10% to د.م996Up from د.م903, the current price target is provided by 1 analyst. New target price is 14% above last closing price of د.م870. Stock is up 15% over the past year. The company is forecast to post earnings per share of د.م56.95 for next year compared to د.م46.23 last year.Price Target Changed • Jun 13Price target increased to د.م591Up from د.م550, the current price target is provided by 1 analyst. New target price is 18% below last closing price of د.م724. Stock is up 64% over the past year. The company is forecast to post earnings per share of د.م43.70 for next year compared to د.م57.66 last year.Price Target Changed • Apr 27Price target increased to د.م591Up from د.م550, the current price target is provided by 1 analyst. New target price is 9.8% below last closing price of د.م655. Stock is up 46% over the past year. The company is forecast to post earnings per share of د.م43.70 for next year compared to د.م57.66 last year.모든 업데이트 보기Recent updatesUpcoming Dividend • May 29Upcoming dividend of د.م48.00 per shareEligible shareholders must have bought the stock before 04 June 2026. Payment date: 15 June 2026. Payout ratio is a comfortable 60% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Within top quartile of Moroccan dividend payers (4.7%). Higher than average of industry peers (3.3%).Reported Earnings • May 19First quarter 2026 earnings released: EPS: د.م24.98 (vs د.م18.21 in 1Q 2025)First quarter 2026 results: EPS: د.م24.98 (up from د.م18.21 in 1Q 2025). Revenue: د.م999.6m (up 19% from 1Q 2025). Net income: د.م271.9m (up 37% from 1Q 2025). Profit margin: 27% (up from 24% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.공고 • Mar 30Crédit du Maroc S.A., Annual General Meeting, Apr 27, 2026Crédit du Maroc S.A., Annual General Meeting, Apr 27, 2026. Location: casablanca MoroccoNew Risk • Mar 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Moroccan stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.7% average weekly change).Reported Earnings • Feb 19Full year 2025 earnings released: EPS: د.م79.36 (vs د.م68.09 in FY 2024)Full year 2025 results: EPS: د.م79.36 (up from د.م68.09 in FY 2024). Revenue: د.م3.20b (up 10% from FY 2024). Net income: د.م863.6m (up 17% from FY 2024). Profit margin: 27% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.Price Target Changed • Aug 18Price target increased by 18% to د.م1,114Up from د.م946, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م1,090. Stock is up 17% over the past year. The company is forecast to post earnings per share of د.م84.00 for next year compared to د.م68.09 last year.Upcoming Dividend • Jun 24Upcoming dividend of د.م41.70 per shareEligible shareholders must have bought the stock before 01 July 2025. Payment date: 10 July 2025. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Moroccan dividend payers (4.4%). Higher than average of industry peers (2.8%).Reported Earnings • May 22First quarter 2025 earnings released: EPS: د.م18.21 (vs د.م14.63 in 1Q 2024)First quarter 2025 results: EPS: د.م18.21 (up from د.م14.63 in 1Q 2024). Revenue: د.م838.3m (up 16% from 1Q 2024). Net income: د.م198.2m (up 25% from 1Q 2024). Profit margin: 24% (up from 22% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth.공고 • May 21Crédit du Maroc S.A. announces Annual dividend, payable on July 10, 2025Crédit du Maroc S.A. announced Annual dividend of MAD 41.7000 per share payable on July 10, 2025, ex-date on July 01, 2025 and record date on June 30, 2025.Reported Earnings • Mar 20Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: د.م68.09 (up from د.م46.23 in FY 2023). Revenue: د.م2.90b (up 17% from FY 2023). Net income: د.م740.9m (up 47% from FY 2023). Profit margin: 26% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 20% per year, which means it is well ahead of earnings.Reported Earnings • Jul 29Second quarter 2024 earnings released: EPS: د.م21.29 (vs د.م13.70 in 2Q 2023)Second quarter 2024 results: EPS: د.م21.29 (up from د.م13.70 in 2Q 2023). Revenue: د.م768.5m (up 28% from 2Q 2023). Net income: د.م231.6m (up 55% from 2Q 2023). Profit margin: 30% (up from 25% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings.Upcoming Dividend • Jul 02Upcoming dividend of د.م34.20 per shareEligible shareholders must have bought the stock before 09 July 2024. Payment date: 18 July 2024. Trailing yield: 3.6%. Lower than top quartile of Moroccan dividend payers (4.3%). Higher than average of industry peers (3.0%).Upcoming Dividend • Jun 27Upcoming dividend of د.م34.20 per shareEligible shareholders must have bought the stock before 04 July 2024. Payment date: 15 July 2024. Trailing yield: 3.7%. Lower than top quartile of Moroccan dividend payers (4.3%). Higher than average of industry peers (2.9%).Price Target Changed • Jun 13Price target increased by 10% to د.م996Up from د.م903, the current price target is provided by 1 analyst. New target price is 14% above last closing price of د.م870. Stock is up 15% over the past year. The company is forecast to post earnings per share of د.م56.95 for next year compared to د.م46.23 last year.Reported Earnings • Mar 17Full year 2023 earnings released: EPS: د.م46.23 (vs د.م37.15 in FY 2022)Full year 2023 results: EPS: د.م46.23 (up from د.م37.15 in FY 2022). Revenue: د.م2.48b (up 10% from FY 2022). Net income: د.م503.1m (up 24% from FY 2022). Profit margin: 20% (up from 18% in FY 2022). The increase in margin was driven by higher revenue. Non-performing loans: 7.99% (down from 8.07% in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Jul 06Upcoming dividend of د.م27.00 per share at 3.5% yieldEligible shareholders must have bought the stock before 13 July 2023. Payment date: 27 July 2023. Trailing yield: 3.5%. Lower than top quartile of Moroccan dividend payers (4.4%). In line with average of industry peers (3.2%).Valuation Update With 7 Day Price Move • Feb 22Investor sentiment improves as stock rises 17%After last week's 17% share price gain to د.م679, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 5x in the Banks industry in Africa. Total returns to shareholders of 37% over the past three years.Valuation Update With 7 Day Price Move • Jan 26Investor sentiment improves as stock rises 17%After last week's 17% share price gain to د.م595, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Banks industry in Africa. Total returns to shareholders of 17% over the past three years.Reported Earnings • Nov 17Third quarter 2022 earnings released: EPS: د.م10.44 (vs د.م10.41 in 3Q 2021)Third quarter 2022 results: EPS: د.م10.44 (up from د.م10.41 in 3Q 2021). Revenue: د.م522.2m (flat on 3Q 2021). Net income: د.م113.6m (flat on 3Q 2021). Profit margin: 22% (in line with 3Q 2021). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 12Upcoming dividend of د.م25.90 per shareEligible shareholders must have bought the stock before 19 July 2022. Payment date: 28 July 2022. Trailing yield: 3.9%. Lower than top quartile of Moroccan dividend payers (4.4%). Higher than average of industry peers (3.4%).Price Target Changed • Jun 13Price target increased to د.م591Up from د.م550, the current price target is provided by 1 analyst. New target price is 18% below last closing price of د.م724. Stock is up 64% over the past year. The company is forecast to post earnings per share of د.م43.70 for next year compared to د.م57.66 last year.Reported Earnings • May 05First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: د.م12.36 (up from د.م8.44 in 1Q 2021). Revenue: د.م648.5m (up 28% from 1Q 2021). Net income: د.م134.5m (up 47% from 1Q 2021). Profit margin: 21% (up from 18% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 1.2%, compared to a 32% growth forecast for the industry in Morocco. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Price Target Changed • Apr 27Price target increased to د.م591Up from د.م550, the current price target is provided by 1 analyst. New target price is 9.8% below last closing price of د.م655. Stock is up 46% over the past year. The company is forecast to post earnings per share of د.م43.70 for next year compared to د.م57.66 last year.Reported Earnings • Aug 04Second quarter 2021 earnings released: EPS د.م17.09 (vs د.م4.56 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: د.م631.6m (up 174% from 2Q 2020). Net income: د.م186.0m (up د.م235.6m from 2Q 2020). Profit margin: 29% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jun 22Upcoming dividend of د.م4.55 per shareEligible shareholders must have bought the stock before 29 June 2021. Payment date: 08 July 2021. Trailing yield: 1.0%. Lower than top quartile of Moroccan dividend payers (4.6%). Lower than average of industry peers (2.8%).Reported Earnings • Mar 15Full year 2020 earnings released: EPS د.م17.49 (vs د.م46.76 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م1.66b (down 22% from FY 2019). Net income: د.م190.3m (down 63% from FY 2019). Profit margin: 12% (down from 24% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Dec 08New 90-day high: د.م443The company is up 13% from its price of د.م392 on 09 September 2020. The Moroccan market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 10.0% over the same period.Is New 90 Day High Low • Nov 25New 90-day high: د.م436The company is up 9.0% from its price of د.م400 on 26 August 2020. The Moroccan market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Banks industry, which is also up 9.0% over the same period.Is New 90 Day High Low • Nov 17New 90-day high: د.م428The company is up 3.0% from its price of د.م416 on 12 August 2020. The Moroccan market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is up 2.0% over the same period.Is New 90 Day High Low • Nov 06New 90-day high: د.م420The company is up 2.0% from its price of د.م412 on 07 August 2020. The Moroccan market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is flat over the same period.이익 및 매출 성장 예측CBSE:CDM - 애널리스트 향후 추정치 및 과거 재무 데이터 (MAD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20284,3761,196N/AN/A112/31/20274,0791,044N/AN/A212/31/20263,674937N/AN/A16/30/20263,430950N/AN/AN/A3/31/20263,358937N/AN/AN/A12/31/20253,196864333730N/A9/30/20253,211856N/AN/AN/A3/31/20253,015780N/AN/AN/A12/31/20242,8997411,5441,916N/A9/30/20242,732633N/AN/AN/A6/30/20242,715608-727-340N/A3/31/20242,546526N/AN/AN/A12/31/20232,477503-2,731-2,289N/A9/30/20232,293412N/AN/AN/A6/30/20232,198365494860N/A3/31/20232,248406N/AN/AN/A12/31/20222,243404-670-291N/A9/30/20222,551675N/AN/AN/A6/30/20222,5516747051,192N/A3/31/20222,509670N/AN/AN/A12/31/20212,3936271,3071,673N/A9/30/20212,115477N/AN/AN/A6/30/20212,038444281506N/A3/31/20211,637209N/AN/AN/A12/31/20201,660190346604N/A9/30/20201,717178N/AN/AN/A6/30/20201,7932322,1182,367N/A3/31/20202,122457N/AN/AN/A12/31/20192,115509N/A3,286N/A9/30/20192,261643N/AN/AN/A6/30/20192,220626N/A-567N/A3/31/20192,187599N/AN/AN/A12/31/20182,145589N/A236N/A9/30/20181,917423N/AN/AN/A6/30/20181,876407N/A925N/A3/31/20181,809376N/AN/AN/A1/1/20181,782365N/A-500N/A9/30/20171,772402N/AN/AN/A6/30/20171,754393N/A-1,021N/A3/31/20171,717375N/AN/AN/A12/31/20161,663339N/A685N/A9/30/20161,555215N/AN/AN/A6/30/20161,461175N/A2,480N/A3/31/20161,371105N/AN/AN/A12/31/20151,32890N/A1,065N/A9/30/20151,300102N/AN/AN/A더 보기애널리스트 향후 성장 전망수입 대 저축률: CDM 의 연간 예상 수익 증가율(9.1%)이 saving rate(15.1%) 미만입니다.수익 vs 시장: CDM 의 연간 수익(9.1%)이 MA 시장(11.9%)보다 느리게 성장할 것으로 예상됩니다.고성장 수익: CDM 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: CDM 의 수익(연간 10%)이 MA 시장(연간 10.6%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: CDM 의 수익(연간 10%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: CDM의 자본 수익률은 3년 후 12.3%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YBanks 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/29 20:34종가2026/07/29 00:00수익2026/06/30연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Crédit du Maroc S.A.는 5명의 분석가가 다루고 있습니다. 이 중 2명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Kais KriaaAlphaMenaRanya GnabaAlphaMenaDounia FilaliBmce Capital Bourse2명의 분석가 더 보기
Price Target Changed • Aug 18Price target increased by 18% to د.م1,114Up from د.م946, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م1,090. Stock is up 17% over the past year. The company is forecast to post earnings per share of د.م84.00 for next year compared to د.م68.09 last year.
Price Target Changed • Jun 13Price target increased by 10% to د.م996Up from د.م903, the current price target is provided by 1 analyst. New target price is 14% above last closing price of د.م870. Stock is up 15% over the past year. The company is forecast to post earnings per share of د.م56.95 for next year compared to د.م46.23 last year.
Price Target Changed • Jun 13Price target increased to د.م591Up from د.م550, the current price target is provided by 1 analyst. New target price is 18% below last closing price of د.م724. Stock is up 64% over the past year. The company is forecast to post earnings per share of د.م43.70 for next year compared to د.م57.66 last year.
Price Target Changed • Apr 27Price target increased to د.م591Up from د.م550, the current price target is provided by 1 analyst. New target price is 9.8% below last closing price of د.م655. Stock is up 46% over the past year. The company is forecast to post earnings per share of د.م43.70 for next year compared to د.م57.66 last year.
Upcoming Dividend • May 29Upcoming dividend of د.م48.00 per shareEligible shareholders must have bought the stock before 04 June 2026. Payment date: 15 June 2026. Payout ratio is a comfortable 60% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Within top quartile of Moroccan dividend payers (4.7%). Higher than average of industry peers (3.3%).
Reported Earnings • May 19First quarter 2026 earnings released: EPS: د.م24.98 (vs د.م18.21 in 1Q 2025)First quarter 2026 results: EPS: د.م24.98 (up from د.م18.21 in 1Q 2025). Revenue: د.م999.6m (up 19% from 1Q 2025). Net income: د.م271.9m (up 37% from 1Q 2025). Profit margin: 27% (up from 24% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
공고 • Mar 30Crédit du Maroc S.A., Annual General Meeting, Apr 27, 2026Crédit du Maroc S.A., Annual General Meeting, Apr 27, 2026. Location: casablanca Morocco
New Risk • Mar 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Moroccan stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.7% average weekly change).
Reported Earnings • Feb 19Full year 2025 earnings released: EPS: د.م79.36 (vs د.م68.09 in FY 2024)Full year 2025 results: EPS: د.م79.36 (up from د.م68.09 in FY 2024). Revenue: د.م3.20b (up 10% from FY 2024). Net income: د.م863.6m (up 17% from FY 2024). Profit margin: 27% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Aug 18Price target increased by 18% to د.م1,114Up from د.م946, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م1,090. Stock is up 17% over the past year. The company is forecast to post earnings per share of د.م84.00 for next year compared to د.م68.09 last year.
Upcoming Dividend • Jun 24Upcoming dividend of د.م41.70 per shareEligible shareholders must have bought the stock before 01 July 2025. Payment date: 10 July 2025. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Moroccan dividend payers (4.4%). Higher than average of industry peers (2.8%).
Reported Earnings • May 22First quarter 2025 earnings released: EPS: د.م18.21 (vs د.م14.63 in 1Q 2024)First quarter 2025 results: EPS: د.م18.21 (up from د.م14.63 in 1Q 2024). Revenue: د.م838.3m (up 16% from 1Q 2024). Net income: د.م198.2m (up 25% from 1Q 2024). Profit margin: 24% (up from 22% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth.
공고 • May 21Crédit du Maroc S.A. announces Annual dividend, payable on July 10, 2025Crédit du Maroc S.A. announced Annual dividend of MAD 41.7000 per share payable on July 10, 2025, ex-date on July 01, 2025 and record date on June 30, 2025.
Reported Earnings • Mar 20Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: د.م68.09 (up from د.م46.23 in FY 2023). Revenue: د.م2.90b (up 17% from FY 2023). Net income: د.م740.9m (up 47% from FY 2023). Profit margin: 26% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 20% per year, which means it is well ahead of earnings.
Reported Earnings • Jul 29Second quarter 2024 earnings released: EPS: د.م21.29 (vs د.م13.70 in 2Q 2023)Second quarter 2024 results: EPS: د.م21.29 (up from د.م13.70 in 2Q 2023). Revenue: د.م768.5m (up 28% from 2Q 2023). Net income: د.م231.6m (up 55% from 2Q 2023). Profit margin: 30% (up from 25% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings.
Upcoming Dividend • Jul 02Upcoming dividend of د.م34.20 per shareEligible shareholders must have bought the stock before 09 July 2024. Payment date: 18 July 2024. Trailing yield: 3.6%. Lower than top quartile of Moroccan dividend payers (4.3%). Higher than average of industry peers (3.0%).
Upcoming Dividend • Jun 27Upcoming dividend of د.م34.20 per shareEligible shareholders must have bought the stock before 04 July 2024. Payment date: 15 July 2024. Trailing yield: 3.7%. Lower than top quartile of Moroccan dividend payers (4.3%). Higher than average of industry peers (2.9%).
Price Target Changed • Jun 13Price target increased by 10% to د.م996Up from د.م903, the current price target is provided by 1 analyst. New target price is 14% above last closing price of د.م870. Stock is up 15% over the past year. The company is forecast to post earnings per share of د.م56.95 for next year compared to د.م46.23 last year.
Reported Earnings • Mar 17Full year 2023 earnings released: EPS: د.م46.23 (vs د.م37.15 in FY 2022)Full year 2023 results: EPS: د.م46.23 (up from د.م37.15 in FY 2022). Revenue: د.م2.48b (up 10% from FY 2022). Net income: د.م503.1m (up 24% from FY 2022). Profit margin: 20% (up from 18% in FY 2022). The increase in margin was driven by higher revenue. Non-performing loans: 7.99% (down from 8.07% in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Jul 06Upcoming dividend of د.م27.00 per share at 3.5% yieldEligible shareholders must have bought the stock before 13 July 2023. Payment date: 27 July 2023. Trailing yield: 3.5%. Lower than top quartile of Moroccan dividend payers (4.4%). In line with average of industry peers (3.2%).
Valuation Update With 7 Day Price Move • Feb 22Investor sentiment improves as stock rises 17%After last week's 17% share price gain to د.م679, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 5x in the Banks industry in Africa. Total returns to shareholders of 37% over the past three years.
Valuation Update With 7 Day Price Move • Jan 26Investor sentiment improves as stock rises 17%After last week's 17% share price gain to د.م595, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Banks industry in Africa. Total returns to shareholders of 17% over the past three years.
Reported Earnings • Nov 17Third quarter 2022 earnings released: EPS: د.م10.44 (vs د.م10.41 in 3Q 2021)Third quarter 2022 results: EPS: د.م10.44 (up from د.م10.41 in 3Q 2021). Revenue: د.م522.2m (flat on 3Q 2021). Net income: د.م113.6m (flat on 3Q 2021). Profit margin: 22% (in line with 3Q 2021). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Morocco. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 12Upcoming dividend of د.م25.90 per shareEligible shareholders must have bought the stock before 19 July 2022. Payment date: 28 July 2022. Trailing yield: 3.9%. Lower than top quartile of Moroccan dividend payers (4.4%). Higher than average of industry peers (3.4%).
Price Target Changed • Jun 13Price target increased to د.م591Up from د.م550, the current price target is provided by 1 analyst. New target price is 18% below last closing price of د.م724. Stock is up 64% over the past year. The company is forecast to post earnings per share of د.م43.70 for next year compared to د.م57.66 last year.
Reported Earnings • May 05First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: د.م12.36 (up from د.م8.44 in 1Q 2021). Revenue: د.م648.5m (up 28% from 1Q 2021). Net income: د.م134.5m (up 47% from 1Q 2021). Profit margin: 21% (up from 18% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 1.2%, compared to a 32% growth forecast for the industry in Morocco. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Price Target Changed • Apr 27Price target increased to د.م591Up from د.م550, the current price target is provided by 1 analyst. New target price is 9.8% below last closing price of د.م655. Stock is up 46% over the past year. The company is forecast to post earnings per share of د.م43.70 for next year compared to د.م57.66 last year.
Reported Earnings • Aug 04Second quarter 2021 earnings released: EPS د.م17.09 (vs د.م4.56 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: د.م631.6m (up 174% from 2Q 2020). Net income: د.م186.0m (up د.م235.6m from 2Q 2020). Profit margin: 29% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jun 22Upcoming dividend of د.م4.55 per shareEligible shareholders must have bought the stock before 29 June 2021. Payment date: 08 July 2021. Trailing yield: 1.0%. Lower than top quartile of Moroccan dividend payers (4.6%). Lower than average of industry peers (2.8%).
Reported Earnings • Mar 15Full year 2020 earnings released: EPS د.م17.49 (vs د.م46.76 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م1.66b (down 22% from FY 2019). Net income: د.م190.3m (down 63% from FY 2019). Profit margin: 12% (down from 24% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Dec 08New 90-day high: د.م443The company is up 13% from its price of د.م392 on 09 September 2020. The Moroccan market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 10.0% over the same period.
Is New 90 Day High Low • Nov 25New 90-day high: د.م436The company is up 9.0% from its price of د.م400 on 26 August 2020. The Moroccan market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Banks industry, which is also up 9.0% over the same period.
Is New 90 Day High Low • Nov 17New 90-day high: د.م428The company is up 3.0% from its price of د.م416 on 12 August 2020. The Moroccan market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is up 2.0% over the same period.
Is New 90 Day High Low • Nov 06New 90-day high: د.م420The company is up 2.0% from its price of د.م412 on 07 August 2020. The Moroccan market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is flat over the same period.