View ValuationHightech Payment Systems 향후 성장Future 기준 점검 4/6Hightech Payment Systems (는) 각각 연간 26.2% 및 9.4% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 27.6% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 21.5% 로 예상됩니다.핵심 정보26.2%이익 성장률27.58%EPS 성장률Diversified Financial 이익 성장16.6%매출 성장률9.4%향후 자기자본이익률21.50%애널리스트 커버리지Low마지막 업데이트10 Apr 2026최근 향후 성장 업데이트Major Estimate Revision • May 14Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from د.م17.35 to د.م15.07. Revenue forecast unchanged from د.م1.52b at last update. Net income forecast to grow 47% next year vs 7.5% growth forecast for Diversified Financial industry in Morocco. Consensus price target of د.م675 unchanged from last update. Share price was steady at د.م570 over the past week.Major Estimate Revision • Apr 22Consensus revenue estimates increase by 13%, EPS downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from د.م1.32b to د.م1.49b. EPS estimate fell from د.م18.95 to د.م17.35. Net income forecast to grow 61% next year vs 7.5% growth forecast for Diversified Financial industry in Morocco. Consensus price target down from د.م674 to د.م650. Share price fell 2.9% to د.م570 over the past week.Price Target Changed • Oct 03Price target decreased by 8.0% to د.م664Down from د.م722, the current price target is an average from 3 analysts. New target price is 15% above last closing price of د.م575. Stock is down 14% over the past year. The company is forecast to post earnings per share of د.م15.10 for next year compared to د.م13.50 last year.Price Target Changed • Oct 30Price target decreased by 11% to د.م687Down from د.م770, the current price target is an average from 3 analysts. New target price is 9.9% above last closing price of د.م625. Stock is down 5.0% over the past year. The company is forecast to post earnings per share of د.م19.70 for next year compared to د.م16.64 last year.Major Estimate Revision • Jun 05Consensus revenue estimates increase to د.م926.0mThe consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from د.م797.7m to د.م926.0m. EPS estimate increased from د.م140 to د.م161 per share. Net income forecast to grow 48% next year vs 20% growth forecast for IT industry in Morocco. Consensus price target up from د.م6,383 to د.م6,983. Share price rose 9.0% to د.م6,596 over the past week.Price Target Changed • May 21Price target increased to د.م6,383Up from د.م5,833, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of د.م5,941. Stock is up 49% over the past year.모든 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • Apr 17Investor sentiment improves as stock rises 19%After last week's 19% share price gain to د.م650, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 10x in the Diversified Financial industry in Africa. Total returns to shareholders of 7.7% over the past three years.Board Change • Feb 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Rachida Benabdallah was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Board Change • Dec 25Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Rachida Benabdallah was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Sep 28First half 2025 earnings released: د.م63.80 loss per share (vs د.م5.39 profit in 1H 2024)First half 2025 results: د.م63.80 loss per share (down from د.م5.39 profit in 1H 2024). Revenue: د.م672.5m (up 16% from 1H 2024). Net loss: د.م47.3m (down 218% from profit in 1H 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Diversified Financial industry in Africa. Over the last 3 years on average, earnings per share has fallen by 40% 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.Declared Dividend • Jul 08Dividend of €7.00 announcedShareholders will receive a dividend of €7.00. Ex-date: 16th July 2025 Payment date: 25th July 2025 Dividend yield will be 1.2%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not covered by cash flows (dividend approximately 32x free cash flows). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 102% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • May 29Hightech Payment Systems S.A., Annual General Meeting, Jun 26, 2025Hightech Payment Systems S.A., Annual General Meeting, Jun 26, 2025.Major Estimate Revision • May 14Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from د.م17.35 to د.م15.07. Revenue forecast unchanged from د.م1.52b at last update. Net income forecast to grow 47% next year vs 7.5% growth forecast for Diversified Financial industry in Morocco. Consensus price target of د.م675 unchanged from last update. Share price was steady at د.م570 over the past week.Major Estimate Revision • Apr 22Consensus revenue estimates increase by 13%, EPS downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from د.م1.32b to د.م1.49b. EPS estimate fell from د.م18.95 to د.م17.35. Net income forecast to grow 61% next year vs 7.5% growth forecast for Diversified Financial industry in Morocco. Consensus price target down from د.م674 to د.م650. Share price fell 2.9% to د.م570 over the past week.Reported Earnings • Apr 02Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: د.م10.17 (down from د.م13.50 in FY 2023). Revenue: د.م1.25b (up 8.1% from FY 2023). Net income: د.م75.3m (down 25% from FY 2023). Profit margin: 6.0% (down from 8.7% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) missed analyst estimates by 36%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Diversified Financial industry in Africa. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Board Change • Feb 24Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Board Member Chami Meryem was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Board Change • Dec 25Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Board Member Chami Meryem was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Oct 03First half 2024 earnings released: EPS: د.م53.90 (vs د.م6.47 in 1H 2023)First half 2024 results: EPS: د.م53.90. Revenue: د.م577.6m (up 9.7% from 1H 2023). Net income: د.م40.0m (down 12% from 1H 2023). Profit margin: 6.9% (down from 8.6% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Diversified Financial industry in Africa.Price Target Changed • Oct 03Price target decreased by 8.0% to د.م664Down from د.م722, the current price target is an average from 3 analysts. New target price is 15% above last closing price of د.م575. Stock is down 14% over the past year. The company is forecast to post earnings per share of د.م15.10 for next year compared to د.م13.50 last year.공시 • Aug 28Hightech Payment Systems S.A. (CBSE:HPS) completed the acquisition of CR2 Ltd.Hightech Payment Systems S.A. (CBSE:HPS) agreed to acquire CR2 Ltd. on May 24, 2024. In the 12 months to June 2023, CR2 generated revenues of €23.8 million. The transaction is subject to customary regulatory conditions and is expected to close in the coming months. Evercore Advisors I LLC is serving as exclusive financial adviser to HPS. Norton Rose Morocco SARL and Matheson LLP are serving as legal advisers to HPS. Hightech Payment Systems S.A. (CBSE:HPS) completed the acquisition of CR2 Ltd. on August 27, 2024.Upcoming Dividend • Jul 10Upcoming dividend of د.م6.80 per shareEligible shareholders must have bought the stock before 17 July 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (4.4%).공시 • Jun 01Hightech Payment Systems S.A., Annual General Meeting, Jun 28, 2024Hightech Payment Systems S.A., Annual General Meeting, Jun 28, 2024. Location: casablanca MoroccoReported Earnings • Mar 29Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: د.م13.49 (down from د.م16.64 in FY 2022). Revenue: د.م1.15b (up 15% from FY 2022). Net income: د.م99.9m (down 15% from FY 2022). Profit margin: 8.7% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Diversified Financial industry in Africa. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Price Target Changed • Oct 30Price target decreased by 11% to د.م687Down from د.م770, the current price target is an average from 3 analysts. New target price is 9.9% above last closing price of د.م625. Stock is down 5.0% over the past year. The company is forecast to post earnings per share of د.م19.70 for next year compared to د.م16.64 last year.New Risk • Jul 26New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risk Shareholders have been diluted in the past year (5.3% increase in shares outstanding).Upcoming Dividend • Jun 28Upcoming dividend of د.م60.00 per share at 1.0% yieldEligible shareholders must have bought the stock before 05 July 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 1.0%. Lower than top quartile of Moroccan dividend payers (4.5%). Lower than average of industry peers (4.5%).Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Board Member Chami Meryem was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Sep 28First half 2022 earnings released: EPS: د.م96.24 (vs د.م52.35 in 1H 2021)First half 2022 results: EPS: د.م96.24 (up from د.م52.35 in 1H 2021). Revenue: د.م479.6m (up 22% from 1H 2021). Net income: د.م67.7m (up 84% from 1H 2021). Profit margin: 14% (up from 9.4% in 1H 2021). 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 23% growth forecast for the IT industry in Africa. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Jul 21Upcoming dividend of د.م55.00 per shareEligible shareholders must have bought the stock before 28 July 2022. Payment date: 08 August 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (4.6%).Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 8 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Isabel Navarro was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Sep 29First half 2021 earnings released: EPS د.م52.40 (vs د.م70.30 in 1H 2020)The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: د.م392.9m (up 12% from 1H 2020). Net income: د.م36.8m (down 26% from 1H 2020). Profit margin: 9.4% (down from 14% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 47% per year, which means it is well ahead of earnings.Upcoming Dividend • Jul 09Upcoming dividend of د.م50.00 per shareEligible shareholders must have bought the stock before 16 July 2021. Payment date: 29 July 2021. Trailing yield: 0.8%. Lower than top quartile of Moroccan dividend payers (4.5%). Lower than average of industry peers (5.2%).Major Estimate Revision • Jun 05Consensus revenue estimates increase to د.م926.0mThe consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from د.م797.7m to د.م926.0m. EPS estimate increased from د.م140 to د.م161 per share. Net income forecast to grow 48% next year vs 20% growth forecast for IT industry in Morocco. Consensus price target up from د.م6,383 to د.م6,983. Share price rose 9.0% to د.م6,596 over the past week.Price Target Changed • May 21Price target increased to د.م6,383Up from د.م5,833, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of د.م5,941. Stock is up 49% over the past year.Reported Earnings • Mar 25Full year 2020 earnings released: EPS د.م120 (vs د.م133 in FY 2019)The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: د.م720.7m (flat on FY 2019). Net income: د.م84.4m (down 10.0% from FY 2019). Profit margin: 12% (down from 13% in FY 2019). 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 46% per year, which means it is tracking significantly ahead of earnings growth.Is New 90 Day High Low • Feb 11New 90-day high: د.م6,730The company is up 29% from its price of د.م5,199 on 13 November 2020. The Moroccan market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,932 per share.Is New 90 Day High Low • Jan 09New 90-day high: د.م6,685The company is up 39% from its price of د.م4,800 on 08 October 2020. The Moroccan market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,971 per share.Price Target Changed • Dec 11Price target raised to د.م5,833Up from د.م5,212, the current price target is an average from 3 analysts. The new target price is close to the current share price of د.م5,900. As of last close, the stock is up 59% over the past year.Is New 90 Day High Low • Dec 04New 90-day high: د.م5,850The company is up 27% from its price of د.م4,600 on 04 September 2020. The Moroccan market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,605 per share.Is New 90 Day High Low • Nov 10New 90-day high: د.م5,203The company is up 17% from its price of د.م4,450 on 11 August 2020. The Moroccan market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 38% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,642 per share.Is New 90 Day High Low • Oct 22New 90-day high: د.م5,000The company is up 15% from its price of د.م4,350 on 24 July 2020. The Moroccan market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,704 per share.Is New 90 Day High Low • Oct 06New 90-day high: د.م4,800The company is up 9.0% from its price of د.م4,399 on 08 July 2020. The Moroccan market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 21% over the same period.공시 • Jul 17Hightech Payment Systems S.A. (CBSE:HPS) signed an agreement to acquire IPRC.Hightech Payment Systems S.A. (CBSE:HPS) signed an agreement to acquire IPRC on July 7, 2020. The acquisition is subject to the usual suspensive clauses.이익 및 매출 성장 예측CBSE:HPS - 애널리스트 향후 추정치 및 과거 재무 데이터 (MAD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20282,011250272324212/31/20271,958202189247312/31/20261,691164137202212/31/20251,551106219239N/A9/30/20251,44547144178N/A6/30/20251,340-1270118N/A3/31/20251,293323684N/A12/31/20241,24575249N/A9/30/20241,20585N/AN/AN/A6/30/20241,165946687N/A3/31/20241,159974065N/A12/31/20231,1521001444N/A9/30/20231,12197N/AN/AN/A6/30/20231,08995-1014N/A3/31/20231,047106-316N/A12/31/20221,005117519N/A9/30/2022961123N/AN/AN/A6/30/20229181307690N/A3/31/2022875114123136N/A12/31/202183199170182N/A9/30/202179885N/AN/AN/A6/30/2021764726582N/A3/31/20217427886104N/A12/31/202072184108126N/A9/30/202072194N/AN/AN/A6/30/2020722103N/AN/AN/A3/31/202071898N/AN/AN/A12/31/2019715941849N/A9/30/201970492N/AN/AN/A6/30/201969490N/AN/AN/A3/31/201966991N/AN/AN/A12/31/201864492N/A84N/A9/30/201861288N/AN/AN/A6/30/201858183N/A83N/A3/31/201856677N/A85N/A12/31/201755171N/A86N/A9/30/201753867N/AN/AN/A6/30/201752463N/A70N/A3/31/201749761N/A74N/A12/31/201647059N/A77N/A9/30/201643652N/AN/AN/A6/30/201640145N/A49N/A3/31/201638443N/A59N/A12/31/201536640N/A69N/A9/30/201535043N/AN/AN/A6/30/201533345N/A54N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: HPS 의 연간 예상 수익 증가율(26.2%)이 saving rate(15.1%)보다 높습니다.수익 vs 시장: HPS 의 연간 수익(26.2%)이 MA 시장(11.1%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: HPS 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: HPS 의 수익(연간 9.4%)이 MA 시장(연간 10.5%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: HPS 의 수익(연간 9.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: HPS의 자본 수익률은 3년 후 21.5%로 높을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YDiversified-financials 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/21 03:03종가2026/05/21 00:00수익2025/12/31연간 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 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.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 소스Hightech Payment Systems S.A.는 5명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Kais KriaaAlphaMenaMyriam ChaabouniAlphaMenaKhadija El MoussilyBmce Capital Bourse2명의 분석가 더 보기
Major Estimate Revision • May 14Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from د.م17.35 to د.م15.07. Revenue forecast unchanged from د.م1.52b at last update. Net income forecast to grow 47% next year vs 7.5% growth forecast for Diversified Financial industry in Morocco. Consensus price target of د.م675 unchanged from last update. Share price was steady at د.م570 over the past week.
Major Estimate Revision • Apr 22Consensus revenue estimates increase by 13%, EPS downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from د.م1.32b to د.م1.49b. EPS estimate fell from د.م18.95 to د.م17.35. Net income forecast to grow 61% next year vs 7.5% growth forecast for Diversified Financial industry in Morocco. Consensus price target down from د.م674 to د.م650. Share price fell 2.9% to د.م570 over the past week.
Price Target Changed • Oct 03Price target decreased by 8.0% to د.م664Down from د.م722, the current price target is an average from 3 analysts. New target price is 15% above last closing price of د.م575. Stock is down 14% over the past year. The company is forecast to post earnings per share of د.م15.10 for next year compared to د.م13.50 last year.
Price Target Changed • Oct 30Price target decreased by 11% to د.م687Down from د.م770, the current price target is an average from 3 analysts. New target price is 9.9% above last closing price of د.م625. Stock is down 5.0% over the past year. The company is forecast to post earnings per share of د.م19.70 for next year compared to د.م16.64 last year.
Major Estimate Revision • Jun 05Consensus revenue estimates increase to د.م926.0mThe consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from د.م797.7m to د.م926.0m. EPS estimate increased from د.م140 to د.م161 per share. Net income forecast to grow 48% next year vs 20% growth forecast for IT industry in Morocco. Consensus price target up from د.م6,383 to د.م6,983. Share price rose 9.0% to د.م6,596 over the past week.
Price Target Changed • May 21Price target increased to د.م6,383Up from د.م5,833, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of د.م5,941. Stock is up 49% over the past year.
Valuation Update With 7 Day Price Move • Apr 17Investor sentiment improves as stock rises 19%After last week's 19% share price gain to د.م650, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 10x in the Diversified Financial industry in Africa. Total returns to shareholders of 7.7% over the past three years.
Board Change • Feb 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Rachida Benabdallah was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Board Change • Dec 25Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Non-Executive Director Rachida Benabdallah was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Sep 28First half 2025 earnings released: د.م63.80 loss per share (vs د.م5.39 profit in 1H 2024)First half 2025 results: د.م63.80 loss per share (down from د.م5.39 profit in 1H 2024). Revenue: د.م672.5m (up 16% from 1H 2024). Net loss: د.م47.3m (down 218% from profit in 1H 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Diversified Financial industry in Africa. Over the last 3 years on average, earnings per share has fallen by 40% 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.
Declared Dividend • Jul 08Dividend of €7.00 announcedShareholders will receive a dividend of €7.00. Ex-date: 16th July 2025 Payment date: 25th July 2025 Dividend yield will be 1.2%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not covered by cash flows (dividend approximately 32x free cash flows). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 102% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • May 29Hightech Payment Systems S.A., Annual General Meeting, Jun 26, 2025Hightech Payment Systems S.A., Annual General Meeting, Jun 26, 2025.
Major Estimate Revision • May 14Consensus EPS estimates fall by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from د.م17.35 to د.م15.07. Revenue forecast unchanged from د.م1.52b at last update. Net income forecast to grow 47% next year vs 7.5% growth forecast for Diversified Financial industry in Morocco. Consensus price target of د.م675 unchanged from last update. Share price was steady at د.م570 over the past week.
Major Estimate Revision • Apr 22Consensus revenue estimates increase by 13%, EPS downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from د.م1.32b to د.م1.49b. EPS estimate fell from د.م18.95 to د.م17.35. Net income forecast to grow 61% next year vs 7.5% growth forecast for Diversified Financial industry in Morocco. Consensus price target down from د.م674 to د.م650. Share price fell 2.9% to د.م570 over the past week.
Reported Earnings • Apr 02Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: د.م10.17 (down from د.م13.50 in FY 2023). Revenue: د.م1.25b (up 8.1% from FY 2023). Net income: د.م75.3m (down 25% from FY 2023). Profit margin: 6.0% (down from 8.7% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) missed analyst estimates by 36%. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Diversified Financial industry in Africa. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Board Change • Feb 24Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Board Member Chami Meryem was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Board Change • Dec 25Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Board Member Chami Meryem was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Oct 03First half 2024 earnings released: EPS: د.م53.90 (vs د.م6.47 in 1H 2023)First half 2024 results: EPS: د.م53.90. Revenue: د.م577.6m (up 9.7% from 1H 2023). Net income: د.م40.0m (down 12% from 1H 2023). Profit margin: 6.9% (down from 8.6% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Diversified Financial industry in Africa.
Price Target Changed • Oct 03Price target decreased by 8.0% to د.م664Down from د.م722, the current price target is an average from 3 analysts. New target price is 15% above last closing price of د.م575. Stock is down 14% over the past year. The company is forecast to post earnings per share of د.م15.10 for next year compared to د.م13.50 last year.
공시 • Aug 28Hightech Payment Systems S.A. (CBSE:HPS) completed the acquisition of CR2 Ltd.Hightech Payment Systems S.A. (CBSE:HPS) agreed to acquire CR2 Ltd. on May 24, 2024. In the 12 months to June 2023, CR2 generated revenues of €23.8 million. The transaction is subject to customary regulatory conditions and is expected to close in the coming months. Evercore Advisors I LLC is serving as exclusive financial adviser to HPS. Norton Rose Morocco SARL and Matheson LLP are serving as legal advisers to HPS. Hightech Payment Systems S.A. (CBSE:HPS) completed the acquisition of CR2 Ltd. on August 27, 2024.
Upcoming Dividend • Jul 10Upcoming dividend of د.م6.80 per shareEligible shareholders must have bought the stock before 17 July 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (4.4%).
공시 • Jun 01Hightech Payment Systems S.A., Annual General Meeting, Jun 28, 2024Hightech Payment Systems S.A., Annual General Meeting, Jun 28, 2024. Location: casablanca Morocco
Reported Earnings • Mar 29Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: د.م13.49 (down from د.م16.64 in FY 2022). Revenue: د.م1.15b (up 15% from FY 2022). Net income: د.م99.9m (down 15% from FY 2022). Profit margin: 8.7% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Diversified Financial industry in Africa. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Price Target Changed • Oct 30Price target decreased by 11% to د.م687Down from د.م770, the current price target is an average from 3 analysts. New target price is 9.9% above last closing price of د.م625. Stock is down 5.0% over the past year. The company is forecast to post earnings per share of د.م19.70 for next year compared to د.م16.64 last year.
New Risk • Jul 26New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risk Shareholders have been diluted in the past year (5.3% increase in shares outstanding).
Upcoming Dividend • Jun 28Upcoming dividend of د.م60.00 per share at 1.0% yieldEligible shareholders must have bought the stock before 05 July 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 1.0%. Lower than top quartile of Moroccan dividend payers (4.5%). Lower than average of industry peers (4.5%).
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Board Member Chami Meryem was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Sep 28First half 2022 earnings released: EPS: د.م96.24 (vs د.م52.35 in 1H 2021)First half 2022 results: EPS: د.م96.24 (up from د.م52.35 in 1H 2021). Revenue: د.م479.6m (up 22% from 1H 2021). Net income: د.م67.7m (up 84% from 1H 2021). Profit margin: 14% (up from 9.4% in 1H 2021). 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 23% growth forecast for the IT industry in Africa. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Jul 21Upcoming dividend of د.م55.00 per shareEligible shareholders must have bought the stock before 28 July 2022. Payment date: 08 August 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (4.6%).
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 8 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Isabel Navarro was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Sep 29First half 2021 earnings released: EPS د.م52.40 (vs د.م70.30 in 1H 2020)The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: د.م392.9m (up 12% from 1H 2020). Net income: د.م36.8m (down 26% from 1H 2020). Profit margin: 9.4% (down from 14% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 47% per year, which means it is well ahead of earnings.
Upcoming Dividend • Jul 09Upcoming dividend of د.م50.00 per shareEligible shareholders must have bought the stock before 16 July 2021. Payment date: 29 July 2021. Trailing yield: 0.8%. Lower than top quartile of Moroccan dividend payers (4.5%). Lower than average of industry peers (5.2%).
Major Estimate Revision • Jun 05Consensus revenue estimates increase to د.م926.0mThe consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from د.م797.7m to د.م926.0m. EPS estimate increased from د.م140 to د.م161 per share. Net income forecast to grow 48% next year vs 20% growth forecast for IT industry in Morocco. Consensus price target up from د.م6,383 to د.م6,983. Share price rose 9.0% to د.م6,596 over the past week.
Price Target Changed • May 21Price target increased to د.م6,383Up from د.م5,833, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of د.م5,941. Stock is up 49% over the past year.
Reported Earnings • Mar 25Full year 2020 earnings released: EPS د.م120 (vs د.م133 in FY 2019)The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: د.م720.7m (flat on FY 2019). Net income: د.م84.4m (down 10.0% from FY 2019). Profit margin: 12% (down from 13% in FY 2019). 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 46% per year, which means it is tracking significantly ahead of earnings growth.
Is New 90 Day High Low • Feb 11New 90-day high: د.م6,730The company is up 29% from its price of د.م5,199 on 13 November 2020. The Moroccan market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,932 per share.
Is New 90 Day High Low • Jan 09New 90-day high: د.م6,685The company is up 39% from its price of د.م4,800 on 08 October 2020. The Moroccan market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,971 per share.
Price Target Changed • Dec 11Price target raised to د.م5,833Up from د.م5,212, the current price target is an average from 3 analysts. The new target price is close to the current share price of د.م5,900. As of last close, the stock is up 59% over the past year.
Is New 90 Day High Low • Dec 04New 90-day high: د.م5,850The company is up 27% from its price of د.م4,600 on 04 September 2020. The Moroccan market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,605 per share.
Is New 90 Day High Low • Nov 10New 90-day high: د.م5,203The company is up 17% from its price of د.م4,450 on 11 August 2020. The Moroccan market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 38% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,642 per share.
Is New 90 Day High Low • Oct 22New 90-day high: د.م5,000The company is up 15% from its price of د.م4,350 on 24 July 2020. The Moroccan market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م1,704 per share.
Is New 90 Day High Low • Oct 06New 90-day high: د.م4,800The company is up 9.0% from its price of د.م4,399 on 08 July 2020. The Moroccan market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 21% over the same period.
공시 • Jul 17Hightech Payment Systems S.A. (CBSE:HPS) signed an agreement to acquire IPRC.Hightech Payment Systems S.A. (CBSE:HPS) signed an agreement to acquire IPRC on July 7, 2020. The acquisition is subject to the usual suspensive clauses.