View ValuationWafa Assurance 향후 성장Future 기준 점검 2/6Wafa Assurance (는) 각각 연간 9.8% 및 21.3% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 9.8% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 8.4% 로 예상됩니다.핵심 정보9.8%이익 성장률9.76%EPS 성장률Insurance 이익 성장11.6%매출 성장률21.3%향후 자기자본이익률8.36%애널리스트 커버리지Low마지막 업데이트15 May 2026최근 향후 성장 업데이트Price Target Changed • May 16Price target increased by 8.4% to د.م5,537Up from د.م5,109, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م5,600. Stock is up 14% over the past year. The company posted earnings per share of د.م293 last year.Major Estimate Revision • Oct 17Consensus EPS estimates increase by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.م15.8b to د.م16.5b. EPS estimate increased from د.م260 to د.م286 per share. Net income forecast to grow 16% next year vs 13% growth forecast for Insurance industry in Morocco. Consensus price target broadly unchanged at د.م5,120. Share price was steady at د.م5,090 over the past week.Price Target Changed • Apr 21Price target increased by 13% to د.م5,109Up from د.م4,509, the current price target is provided by 1 analyst. New target price is 7.5% above last closing price of د.م4,752. Stock is up 13% over the past year. The company is forecast to post earnings per share of د.م260 for next year compared to د.م244 last year.Major Estimate Revision • Oct 20Consensus EPS estimates increase by 19%The consensus outlook for fiscal year 2024 has been updated. 2024 consensus EPS increased from د.م221 to د.م264. Revenues were reaffirmed at د.م15.6b. Net income forecast to grow 22% next year vs 8.8% growth forecast for Insurance industry in Morocco. Consensus price target up from د.م4,509 to د.م4,792. Share price was steady at د.م4,498 over the past week.Price Target Changed • Apr 14Price target increased by 18% to د.م4,509Up from د.م3,807, the current price target is provided by 1 analyst. New target price is 7.4% above last closing price of د.م4,200. Stock is up 12% over the past year. The company is forecast to post earnings per share of د.م221 for next year compared to د.م192 last year.Price Target Changed • Jul 26Price target decreased to د.م3,441Down from د.م3,735, the current price target is provided by 1 analyst. New target price is 18% below last closing price of د.م4,200. Stock is up 14% over the past year.모든 업데이트 보기Recent updatesPrice Target Changed • May 16Price target increased by 8.4% to د.م5,537Up from د.م5,109, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م5,600. Stock is up 14% over the past year. The company posted earnings per share of د.م293 last year.Declared Dividend • Apr 23Dividend increased to د.م150Dividend of د.م150 is 7.1% higher than last year. Ex-date: 18th June 2026 Payment date: 29th June 2026 Dividend yield will be 2.7%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.공시 • Apr 22Wafa Assurance SA, Annual General Meeting, May 19, 2026Wafa Assurance SA, Annual General Meeting, May 19, 2026. Location: casablanca MoroccoMajor Estimate Revision • Oct 17Consensus EPS estimates increase by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.م15.8b to د.م16.5b. EPS estimate increased from د.م260 to د.م286 per share. Net income forecast to grow 16% next year vs 13% growth forecast for Insurance industry in Morocco. Consensus price target broadly unchanged at د.م5,120. Share price was steady at د.م5,090 over the past week.Upcoming Dividend • Jun 10Upcoming dividend of د.م140 per shareEligible shareholders must have bought the stock before 17 June 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Moroccan dividend payers (4.2%). Lower than average of industry peers (3.4%).New Risk • May 19New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.New Risk • May 18New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Moroccan stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company.Declared Dividend • Apr 28Dividend of د.م140 announcedDividend of د.م140 is the same as last year. Ex-date: 17th June 2025 Payment date: 26th June 2025 Dividend yield will be 2.9%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 2 years, which should provide support to the dividend and adequate earnings cover.공시 • Apr 23Wafa Assurance SA, Annual General Meeting, May 20, 2025Wafa Assurance SA, Annual General Meeting, May 20, 2025.Price Target Changed • Apr 21Price target increased by 13% to د.م5,109Up from د.م4,509, the current price target is provided by 1 analyst. New target price is 7.5% above last closing price of د.م4,752. Stock is up 13% over the past year. The company is forecast to post earnings per share of د.م260 for next year compared to د.م244 last year.Valuation Update With 7 Day Price Move • Apr 18Investor sentiment improves as stock rises 16%After last week's 16% share price gain to د.م4,750, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Insurance industry in Africa. Total returns to shareholders of 9.0% over the past three years.Reported Earnings • Apr 01Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: د.م244 (up from د.م192 in FY 2023). Revenue: د.م15.1b (up 5.6% from FY 2023). Net income: د.م853.8m (up 27% from FY 2023). Profit margin: 5.7% (up from 4.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 7.6%. Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 34% decline forecast for the Insurance industry in Africa. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.New Risk • Mar 28New 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 6.2% 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. This is currently the only risk that has been identified for the company.Valuation Update With 7 Day Price Move • Mar 24Investor sentiment improves as stock rises 16%After last week's 16% share price gain to د.م5,200, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 11x in the Insurance industry in Africa. Total returns to shareholders of 19% over the past three years.Board Change • Feb 25No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 11 non-independent directors. President of the Board Boubker Jai was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.공시 • Dec 11Wafa Assurance SA (CBSE:WAA) proposed to acquire Delta Insurance Company (CASE:DEIN) from Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) for EGP 5 billion.Wafa Assurance SA (CBSE:WAA) proposed to acquire Delta Insurance Company (CASE:DEIN) from Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) for EGP 5 billion on December 8, 2024. Wafa Assurance SA will acquire 100% stake or 100 million shares in Delta Insurance Company at a price of EGP 50 per share through a mandatory purchase offer in accordance with the laws and regulations applicable. The purchase price is subject to adjustments. As part of the mandatory purchase offer, Wafa Assurance SA aims to hold a minimum of 51% in Delta Insurance Company. In a separate agreement, AXA Egypt S.A.E proposed to acquire Delta Insurance Company from Egypt Kuwait Holding Company for EGP 5 billion. The transaction is subject to consummation of due diligence investigation, approval by financial regulatory authority and other relevant regulatory authorities.Major Estimate Revision • Oct 20Consensus EPS estimates increase by 19%The consensus outlook for fiscal year 2024 has been updated. 2024 consensus EPS increased from د.م221 to د.م264. Revenues were reaffirmed at د.م15.6b. Net income forecast to grow 22% next year vs 8.8% growth forecast for Insurance industry in Morocco. Consensus price target up from د.م4,509 to د.م4,792. Share price was steady at د.م4,498 over the past week.Upcoming Dividend • Jun 10Upcoming dividend of د.م140 per shareEligible shareholders must have bought the stock before 17 June 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Moroccan dividend payers (4.2%). In line with average of industry peers (3.8%).Price Target Changed • Apr 14Price target increased by 18% to د.م4,509Up from د.م3,807, the current price target is provided by 1 analyst. New target price is 7.4% above last closing price of د.م4,200. Stock is up 12% over the past year. The company is forecast to post earnings per share of د.م221 for next year compared to د.م192 last year.공시 • Apr 11Wafa Assurance SA, Annual General Meeting, May 15, 2024Wafa Assurance SA, Annual General Meeting, May 15, 2024.Reported Earnings • Mar 31Full year 2023 earnings released: EPS: د.م192 (vs د.م222 in FY 2022)Full year 2023 results: EPS: د.م192 (down from د.م222 in FY 2022). Revenue: د.م14.3b (up 8.3% from FY 2022). Net income: د.م670.5m (down 14% from FY 2022). Profit margin: 4.7% (down from 5.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 27% decline forecast for the Insurance industry in Africa. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year.New Risk • Feb 01New 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 4.9% 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. This is currently the only risk that has been identified for the company.New Risk • Oct 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company.New Risk • Jul 01New 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 5.4% 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. This is currently the only risk that has been identified for the company.Upcoming Dividend • Jun 01Upcoming dividend of د.م130 per share at 3.3% yieldEligible shareholders must have bought the stock before 08 June 2023. Payment date: 19 June 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (3.7%).Valuation Update With 7 Day Price Move • Jan 06Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to د.م3,338, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 21x in the Insurance industry in Morocco. Total loss to shareholders of 11% over the past three years.Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 11 non-independent directors. Director Magali Noe was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Sep 22Investor sentiment improved over the past weekAfter last week's 15% share price gain to د.م4,450, the stock trades at a trailing P/E ratio of 36.7x. Average trailing P/E is 22x in the Insurance industry in Morocco. Total returns to shareholders of 31% over the past three years.Upcoming Dividend • Jun 02Upcoming dividend of د.م120 per shareEligible shareholders must have bought the stock before 09 June 2022. Payment date: 20 June 2022. Trailing yield: 2.8%. Lower than top quartile of Moroccan dividend payers (4.3%). Lower than average of industry peers (3.2%).Board Change • Apr 27No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 11 non-independent directors. Director Magali Noe was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 04First half 2021 earnings releasedThe company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: د.م5.37b (up 33% from 1H 2020). Net income: د.م362.4m (up د.م553.8m from 1H 2020). Profit margin: 6.7% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue.Price Target Changed • Jul 26Price target decreased to د.م3,441Down from د.م3,735, the current price target is provided by 1 analyst. New target price is 18% below last closing price of د.م4,200. Stock is up 14% over the past year.Upcoming Dividend • May 27Upcoming dividend of د.م100.00 per shareEligible shareholders must have bought the stock before 03 June 2021. Payment date: 14 June 2021. Trailing yield: 2.5%. Lower than top quartile of Moroccan dividend payers (4.9%). In line with average of industry peers (2.7%).Is New 90 Day High Low • Feb 05New 90-day high: د.م4,129The company is up 23% from its price of د.م3,360 on 03 November 2020. The Moroccan market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 9.0% over the same period.Is New 90 Day High Low • Dec 10New 90-day high: د.م3,760The company is up 3.0% from its price of د.م3,650 on 10 September 2020. The Moroccan market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is up 1.0% over the same period.이익 및 매출 성장 예측CBSE:WAA - 애널리스트 향후 추정치 및 과거 재무 데이터 (MAD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202821,928N/AN/AN/A112/31/202720,5451,247N/AN/A112/31/202619,2411,108N/AN/A112/31/20259,6731,0264,5945,349N/A9/30/20259,3539774,4404,875N/A6/30/202515,5158594,2894,427N/A3/31/202515,3108563,6133,782N/A12/31/20248,6229232,9333,112N/A9/30/202410,1658653,2793,491N/A6/30/202411,7088083,6263,870N/A3/31/202413,0067393,7123,957N/A12/31/202314,3036703,7984,045N/A9/30/202313,9997223,0993,359N/A6/30/202313,6967732,4012,674N/A3/31/202313,4517742,4542,776N/A12/31/202213,2067762,5072,879N/A9/30/202212,5506892,4792,881N/A6/30/202211,8956022,4522,883N/A3/31/202211,6105132,8703,197N/A12/31/202111,3254243,2893,511N/A9/30/202111,7927223,9144,063N/A6/30/202112,2591,0204,5384,614N/A3/31/202111,3457373,9964,063N/A12/31/202010,4314533,4553,512N/A9/30/20209,003216N/AN/AN/A6/30/20209,218273,1843,189N/A3/31/20209,6243383,5343,540N/A12/31/201910,0306493,8853,892N/A9/30/20199,676636N/AN/AN/A6/30/20199,322623N/A3,113N/A3/31/20199,345616N/A3,252N/A12/31/20189,367608N/A3,391N/A9/30/20189,278640N/AN/AN/A6/30/20189,188672N/A3,018N/A3/31/20189,145745N/A2,971N/A12/31/20179,103819N/A2,924N/A9/30/20179,106855N/A1,092N/A6/30/20179,108891N/A1,350N/A3/31/20178,768866N/A1,883N/A12/31/20168,428841N/A2,417N/A9/30/20168,014837N/AN/AN/A6/30/20167,600834N/A4,262N/A3/31/20167,347817N/A3,423N/A12/31/20157,094800N/A2,584N/A9/30/20157,137820N/AN/AN/A6/30/20157,179839N/A1,906N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: WAA 의 연간 예상 수익 증가율(9.8%)이 saving rate(15.1%) 미만입니다.수익 vs 시장: WAA 의 연간 수익(9.8%)이 MA 시장(10.7%)보다 느리게 성장할 것으로 예상됩니다.고성장 수익: WAA 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: WAA 의 수익(연간 21.3%)이 MA 시장(연간 10.3%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: WAA 의 수익(연간 21.3%)은 연간 20%보다 빠르게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: WAA의 자본 수익률은 3년 후 8.4%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YInsurance 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/31 16:16종가2026/05/26 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 소스Wafa Assurance SA는 3명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Ranya GnabaAlphaMenaDounia FilaliBmce Capital BourseSophia HakamCFG Marches
Price Target Changed • May 16Price target increased by 8.4% to د.م5,537Up from د.م5,109, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م5,600. Stock is up 14% over the past year. The company posted earnings per share of د.م293 last year.
Major Estimate Revision • Oct 17Consensus EPS estimates increase by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.م15.8b to د.م16.5b. EPS estimate increased from د.م260 to د.م286 per share. Net income forecast to grow 16% next year vs 13% growth forecast for Insurance industry in Morocco. Consensus price target broadly unchanged at د.م5,120. Share price was steady at د.م5,090 over the past week.
Price Target Changed • Apr 21Price target increased by 13% to د.م5,109Up from د.م4,509, the current price target is provided by 1 analyst. New target price is 7.5% above last closing price of د.م4,752. Stock is up 13% over the past year. The company is forecast to post earnings per share of د.م260 for next year compared to د.م244 last year.
Major Estimate Revision • Oct 20Consensus EPS estimates increase by 19%The consensus outlook for fiscal year 2024 has been updated. 2024 consensus EPS increased from د.م221 to د.م264. Revenues were reaffirmed at د.م15.6b. Net income forecast to grow 22% next year vs 8.8% growth forecast for Insurance industry in Morocco. Consensus price target up from د.م4,509 to د.م4,792. Share price was steady at د.م4,498 over the past week.
Price Target Changed • Apr 14Price target increased by 18% to د.م4,509Up from د.م3,807, the current price target is provided by 1 analyst. New target price is 7.4% above last closing price of د.م4,200. Stock is up 12% over the past year. The company is forecast to post earnings per share of د.م221 for next year compared to د.م192 last year.
Price Target Changed • Jul 26Price target decreased to د.م3,441Down from د.م3,735, the current price target is provided by 1 analyst. New target price is 18% below last closing price of د.م4,200. Stock is up 14% over the past year.
Price Target Changed • May 16Price target increased by 8.4% to د.م5,537Up from د.م5,109, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.م5,600. Stock is up 14% over the past year. The company posted earnings per share of د.م293 last year.
Declared Dividend • Apr 23Dividend increased to د.م150Dividend of د.م150 is 7.1% higher than last year. Ex-date: 18th June 2026 Payment date: 29th June 2026 Dividend yield will be 2.7%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.
공시 • Apr 22Wafa Assurance SA, Annual General Meeting, May 19, 2026Wafa Assurance SA, Annual General Meeting, May 19, 2026. Location: casablanca Morocco
Major Estimate Revision • Oct 17Consensus EPS estimates increase by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.م15.8b to د.م16.5b. EPS estimate increased from د.م260 to د.م286 per share. Net income forecast to grow 16% next year vs 13% growth forecast for Insurance industry in Morocco. Consensus price target broadly unchanged at د.م5,120. Share price was steady at د.م5,090 over the past week.
Upcoming Dividend • Jun 10Upcoming dividend of د.م140 per shareEligible shareholders must have bought the stock before 17 June 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Moroccan dividend payers (4.2%). Lower than average of industry peers (3.4%).
New Risk • May 19New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
New Risk • May 18New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Moroccan stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company.
Declared Dividend • Apr 28Dividend of د.م140 announcedDividend of د.م140 is the same as last year. Ex-date: 17th June 2025 Payment date: 26th June 2025 Dividend yield will be 2.9%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
공시 • Apr 23Wafa Assurance SA, Annual General Meeting, May 20, 2025Wafa Assurance SA, Annual General Meeting, May 20, 2025.
Price Target Changed • Apr 21Price target increased by 13% to د.م5,109Up from د.م4,509, the current price target is provided by 1 analyst. New target price is 7.5% above last closing price of د.م4,752. Stock is up 13% over the past year. The company is forecast to post earnings per share of د.م260 for next year compared to د.م244 last year.
Valuation Update With 7 Day Price Move • Apr 18Investor sentiment improves as stock rises 16%After last week's 16% share price gain to د.م4,750, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Insurance industry in Africa. Total returns to shareholders of 9.0% over the past three years.
Reported Earnings • Apr 01Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: د.م244 (up from د.م192 in FY 2023). Revenue: د.م15.1b (up 5.6% from FY 2023). Net income: د.م853.8m (up 27% from FY 2023). Profit margin: 5.7% (up from 4.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 7.6%. Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 34% decline forecast for the Insurance industry in Africa. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
New Risk • Mar 28New 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 6.2% 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. This is currently the only risk that has been identified for the company.
Valuation Update With 7 Day Price Move • Mar 24Investor sentiment improves as stock rises 16%After last week's 16% share price gain to د.م5,200, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 11x in the Insurance industry in Africa. Total returns to shareholders of 19% over the past three years.
Board Change • Feb 25No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 11 non-independent directors. President of the Board Boubker Jai was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
공시 • Dec 11Wafa Assurance SA (CBSE:WAA) proposed to acquire Delta Insurance Company (CASE:DEIN) from Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) for EGP 5 billion.Wafa Assurance SA (CBSE:WAA) proposed to acquire Delta Insurance Company (CASE:DEIN) from Egypt Kuwait Holding Company (S.A.E.) (CASE:EKHO) for EGP 5 billion on December 8, 2024. Wafa Assurance SA will acquire 100% stake or 100 million shares in Delta Insurance Company at a price of EGP 50 per share through a mandatory purchase offer in accordance with the laws and regulations applicable. The purchase price is subject to adjustments. As part of the mandatory purchase offer, Wafa Assurance SA aims to hold a minimum of 51% in Delta Insurance Company. In a separate agreement, AXA Egypt S.A.E proposed to acquire Delta Insurance Company from Egypt Kuwait Holding Company for EGP 5 billion. The transaction is subject to consummation of due diligence investigation, approval by financial regulatory authority and other relevant regulatory authorities.
Major Estimate Revision • Oct 20Consensus EPS estimates increase by 19%The consensus outlook for fiscal year 2024 has been updated. 2024 consensus EPS increased from د.م221 to د.م264. Revenues were reaffirmed at د.م15.6b. Net income forecast to grow 22% next year vs 8.8% growth forecast for Insurance industry in Morocco. Consensus price target up from د.م4,509 to د.م4,792. Share price was steady at د.م4,498 over the past week.
Upcoming Dividend • Jun 10Upcoming dividend of د.م140 per shareEligible shareholders must have bought the stock before 17 June 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Moroccan dividend payers (4.2%). In line with average of industry peers (3.8%).
Price Target Changed • Apr 14Price target increased by 18% to د.م4,509Up from د.م3,807, the current price target is provided by 1 analyst. New target price is 7.4% above last closing price of د.م4,200. Stock is up 12% over the past year. The company is forecast to post earnings per share of د.م221 for next year compared to د.م192 last year.
공시 • Apr 11Wafa Assurance SA, Annual General Meeting, May 15, 2024Wafa Assurance SA, Annual General Meeting, May 15, 2024.
Reported Earnings • Mar 31Full year 2023 earnings released: EPS: د.م192 (vs د.م222 in FY 2022)Full year 2023 results: EPS: د.م192 (down from د.م222 in FY 2022). Revenue: د.م14.3b (up 8.3% from FY 2022). Net income: د.م670.5m (down 14% from FY 2022). Profit margin: 4.7% (down from 5.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 27% decline forecast for the Insurance industry in Africa. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year.
New Risk • Feb 01New 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 4.9% 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. This is currently the only risk that has been identified for the company.
New Risk • Oct 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company.
New Risk • Jul 01New 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 5.4% 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. This is currently the only risk that has been identified for the company.
Upcoming Dividend • Jun 01Upcoming dividend of د.م130 per share at 3.3% yieldEligible shareholders must have bought the stock before 08 June 2023. Payment date: 19 June 2023. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (3.7%).
Valuation Update With 7 Day Price Move • Jan 06Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to د.م3,338, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 21x in the Insurance industry in Morocco. Total loss to shareholders of 11% over the past three years.
Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 11 non-independent directors. Director Magali Noe was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Sep 22Investor sentiment improved over the past weekAfter last week's 15% share price gain to د.م4,450, the stock trades at a trailing P/E ratio of 36.7x. Average trailing P/E is 22x in the Insurance industry in Morocco. Total returns to shareholders of 31% over the past three years.
Upcoming Dividend • Jun 02Upcoming dividend of د.م120 per shareEligible shareholders must have bought the stock before 09 June 2022. Payment date: 20 June 2022. Trailing yield: 2.8%. Lower than top quartile of Moroccan dividend payers (4.3%). Lower than average of industry peers (3.2%).
Board Change • Apr 27No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 11 non-independent directors. Director Magali Noe was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 04First half 2021 earnings releasedThe company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: د.م5.37b (up 33% from 1H 2020). Net income: د.م362.4m (up د.م553.8m from 1H 2020). Profit margin: 6.7% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue.
Price Target Changed • Jul 26Price target decreased to د.م3,441Down from د.م3,735, the current price target is provided by 1 analyst. New target price is 18% below last closing price of د.م4,200. Stock is up 14% over the past year.
Upcoming Dividend • May 27Upcoming dividend of د.م100.00 per shareEligible shareholders must have bought the stock before 03 June 2021. Payment date: 14 June 2021. Trailing yield: 2.5%. Lower than top quartile of Moroccan dividend payers (4.9%). In line with average of industry peers (2.7%).
Is New 90 Day High Low • Feb 05New 90-day high: د.م4,129The company is up 23% from its price of د.م3,360 on 03 November 2020. The Moroccan market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 9.0% over the same period.
Is New 90 Day High Low • Dec 10New 90-day high: د.م3,760The company is up 3.0% from its price of د.م3,650 on 10 September 2020. The Moroccan market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is up 1.0% over the same period.