View ValuationSociété d'Exploitation des Ports 향후 성장Future 기준 점검 5/6Société d'Exploitation des Ports (는) 각각 연간 20.5% 및 18.5% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 20.5% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 38.4% 로 예상됩니다.핵심 정보20.5%이익 성장률20.47%EPS 성장률Infrastructure 이익 성장10.2%매출 성장률18.5%향후 자기자본이익률38.40%애널리스트 커버리지Low마지막 업데이트22 May 2026최근 향후 성장 업데이트Price Target Changed • May 13Price target increased by 14% to د.م987Up from د.م865, the current price target is an average from 2 analysts. New target price is 17% above last closing price of د.م843. Stock is up 8.4% over the past year.Price Target Changed • Mar 20Price target decreased by 7.7% to د.م865Down from د.م937, the current price target is an average from 2 analysts. New target price is 12% above last closing price of د.م775. Stock is up 4.2% over the past year. The company is forecast to post earnings per share of د.م20.90 for next year compared to د.م17.26 last year.Price Target Changed • Oct 10Price target increased by 21% to د.م887Up from د.م734, the current price target is an average from 2 analysts. New target price is 5.2% below last closing price of د.م935. Stock is up 117% over the past year. The company is forecast to post earnings per share of د.م20.90 for next year compared to د.م17.26 last year.Price Target Changed • Mar 03Price target increased by 14% to د.م693Up from د.م607, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م720. Stock is up 147% over the past year. The company is forecast to post earnings per share of د.م15.67 for next year compared to د.م11.61 last year.Price Target Changed • Feb 28Price target increased by 11% to د.م637Up from د.م572, the current price target is an average from 2 analysts. New target price is 13% below last closing price of د.م729. Stock is up 151% over the past year. The company is forecast to post earnings per share of د.م15.20 for next year compared to د.م11.61 last year.Price Target Changed • May 03Price target increased by 33% to د.م362Up from د.م272, the current price target is provided by 1 analyst. New target price is 28% above last closing price of د.م283. Stock is up 24% over the past year.모든 업데이트 보기Recent updatesDeclared Dividend • Jul 08Dividend increased to د.م11.00Dividend of د.م11.00 is 16% higher than last year. Ex-date: 17th July 2026 Payment date: 28th July 2026 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (51% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Price Target Changed • May 13Price target increased by 14% to د.م987Up from د.م865, the current price target is an average from 2 analysts. New target price is 17% above last closing price of د.م843. Stock is up 8.4% over the past year.Reported Earnings • May 05Full year 2025 earnings: Revenues in line with analyst expectationsFull year 2025 results: Revenue: د.م5.78b (up 16% from FY 2024). Net income: د.م1.59b (up 25% from FY 2024). Profit margin: 28% (up from 25% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Global Infrastructure industry.New Risk • Apr 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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.Price Target Changed • Mar 20Price target decreased by 7.7% to د.م865Down from د.م937, the current price target is an average from 2 analysts. New target price is 12% above last closing price of د.م775. Stock is up 4.2% over the past year. The company is forecast to post earnings per share of د.م20.90 for next year compared to د.م17.26 last year.Valuation Update With 7 Day Price Move • Mar 03Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to د.م702, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 16x in the Infrastructure industry globally. Total returns to shareholders of 248% over the past three years.Board Change • Feb 16Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). Director Anouar Jabbari is the most experienced director on the board, commencing their role in 2024. Independent Director Mustapha Ouafi was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Board Change • Dec 25Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). Director Anouar Jabbari is the most experienced director on the board, commencing their role in 2024. Independent Director Mustapha Ouafi was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.공고 • Dec 18Société d'Exploitation des Ports (CBSE:MSA) signed an agreement to acquire 45% stake in Boluda Maritime Terminals from Boluda Lines SA for €80 million.Société d'Exploitation des Ports (CBSE:MSA) signed an agreement to acquire 45% stake in Boluda Maritime Terminals from Boluda Lines SA for €80 million on December 16, 2025. The transaction is subject to approval by regulatory board / committee and approval of offer by acquirer board. The deal has been approved by the board of Société d'Exploitation des Ports.Price Target Changed • Oct 10Price target increased by 21% to د.م887Up from د.م734, the current price target is an average from 2 analysts. New target price is 5.2% below last closing price of د.م935. Stock is up 117% over the past year. The company is forecast to post earnings per share of د.م20.90 for next year compared to د.م17.26 last year.Upcoming Dividend • Jul 10Upcoming dividend of د.م9.50 per shareEligible shareholders must have bought the stock before 17 July 2025. Payment date: 28 July 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Moroccan dividend payers (4.2%). Lower than average of industry peers (2.5%).공고 • May 26Société d'Exploitation des Ports, Annual General Meeting, Jun 25, 2025Société d'Exploitation des Ports, Annual General Meeting, Jun 25, 2025.Declared Dividend • May 26Dividend increased to د.م9.50Dividend of د.م9.50 is 12% higher than last year. Ex-date: 17th July 2025 Payment date: 28th July 2025 Dividend yield will be 1.2%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has decreased over the past 5 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to grow by 24% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Apr 30Full year 2024 earnings releasedFull year 2024 results: Revenue: د.م5.01b (up 16% from FY 2023). Net income: د.م1.27b (up 49% from FY 2023). Profit margin: 25% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Global Infrastructure industry.New Risk • Apr 14New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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.Price Target Changed • Mar 03Price target increased by 14% to د.م693Up from د.م607, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م720. Stock is up 147% over the past year. The company is forecast to post earnings per share of د.م15.67 for next year compared to د.م11.61 last year.Price Target Changed • Feb 28Price target increased by 11% to د.م637Up from د.م572, the current price target is an average from 2 analysts. New target price is 13% below last closing price of د.م729. Stock is up 151% over the past year. The company is forecast to post earnings per share of د.م15.20 for next year compared to د.م11.61 last year.Valuation Update With 7 Day Price Move • Sep 30Investor sentiment improves as stock rises 16%After last week's 16% share price gain to د.م472, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 15x in the Infrastructure industry globally. Total returns to shareholders of 84% over the past three years.Upcoming Dividend • Jul 18Upcoming dividend of د.م8.50 per shareEligible shareholders must have bought the stock before 24 July 2024. Payment date: 07 August 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (3.6%).공고 • May 26Société d'Exploitation des Ports, Annual General Meeting, Jun 25, 2024Société d'Exploitation des Ports, Annual General Meeting, Jun 25, 2024. Location: casablanca MoroccoPrice Target Changed • May 03Price target increased by 33% to د.م362Up from د.م272, the current price target is provided by 1 analyst. New target price is 28% above last closing price of د.م283. Stock is up 24% over the past year.Reported Earnings • Apr 28Full year 2023 earnings releasedFull year 2023 results: Revenue: د.م4.32b (up 9.4% from FY 2022). Net income: د.م852.2m (up 4.3% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Global Infrastructure industry.Reported Earnings • Sep 29First half 2023 earnings releasedFirst half 2023 results: Revenue: د.م2.12b (up 6.3% from 1H 2022). Net income: د.م433.0m (up 13% from 1H 2022). Profit margin: 20% (up from 19% in 1H 2022). 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 10% growth forecast for the Global Infrastructure industry.Upcoming Dividend • Jul 06Upcoming dividend of د.م8.00 per share at 3.1% yieldEligible shareholders must have bought the stock before 13 July 2023. Payment date: 26 July 2023. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Moroccan dividend payers (4.5%). Lower than average of industry peers (3.8%).Price Target Changed • May 04Price target increased by 11% to د.م263Up from د.م237, the current price target is an average from 2 analysts. New target price is 17% above last closing price of د.م224. Stock is down 19% over the past year. The company is forecast to post earnings per share of د.م16.30 for next year compared to د.م9.08 last year.Price Target Changed • Feb 15Price target decreased by 26% to د.م198Down from د.م268, the current price target is provided by 1 analyst. New target price is 6.4% below last closing price of د.م212. Stock is down 26% over the past year. The company is forecast to post earnings per share of د.م16.30 for next year compared to د.م9.08 last year.Valuation Update With 7 Day Price Move • Jan 06Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to د.م181, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Infrastructure industry globally. Total loss to shareholders of 6.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at د.م187 per share.Price Target Changed • Jul 06Price target decreased to د.م266Down from د.م287, the current price target is an average from 2 analysts. New target price is 6.8% above last closing price of د.م249. Stock is up 1.2% over the past year. The company is forecast to post earnings per share of د.م13.50 for next year compared to د.م3.98 last year.Upcoming Dividend • May 30Upcoming dividend of د.م7.20 per shareEligible shareholders must have bought the stock before 06 June 2022. Payment date: 15 June 2022. Trailing yield: 3.1%. Lower than top quartile of Moroccan dividend payers (4.3%). In line with average of industry peers (3.4%).Price Target Changed • Apr 27Price target increased to د.م260Up from د.م241, the current price target is an average from 2 analysts. New target price is 7.3% below last closing price of د.م280. Stock is up 22% over the past year. The company is forecast to post earnings per share of د.م13.50 for next year compared to د.م3.98 last year.Price Target Changed • Mar 09Price target increased to د.م260Up from د.م241, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م270. Stock is up 26% over the past year. The company is forecast to post earnings per share of د.م9.40 for next year compared to د.م3.98 last year.Upcoming Dividend • Jul 19Upcoming dividend of د.م8.00 per shareEligible shareholders must have bought the stock before 26 July 2021. Payment date: 05 August 2021. Trailing yield: 3.2%. Lower than top quartile of Moroccan dividend payers (4.9%). Higher than average of industry peers (2.7%).Reported Earnings • Jun 29Full year 2020 earnings released: EPS د.م3.98 (vs د.م9.15 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م2.76b (down 5.2% from FY 2019). Net income: د.م291.9m (down 56% from FY 2019). Profit margin: 11% (down from 23% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.Price Target Changed • May 23Price target increased to د.م231Up from د.م201, the current price target is provided by 1 analyst. New target price is 7.3% below last closing price of د.م249. Stock is up 36% over the past year.Reported Earnings • May 04Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م2.85b (down 1.9% from FY 2019). Net income: د.م291.9m (down 56% from FY 2019). Profit margin: 10% (down from 23% in FY 2019).Is New 90 Day High Low • Feb 04New 90-day high: د.م220The company is up 18% from its price of د.م186 on 05 November 2020. The Moroccan market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م83.26 per share.Is New 90 Day High Low • Jan 07New 90-day high: د.م215The company is up 16% from its price of د.م185 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 Infrastructure industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م80.92 per share.Is New 90 Day High Low • Dec 12New 90-day high: د.م205The company is up 10.0% from its price of د.م187 on 11 September 2020. The Moroccan market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Infrastructure industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م82.78 per share.Is New 90 Day High Low • Nov 11New 90-day high: د.م193The company is up 4.0% from its price of د.م186 on 13 August 2020. The Moroccan market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م76.46 per share.Is New 90 Day High Low • Oct 01New 90-day low: د.م182The company is down 6.0% from its price of د.م193 on 03 July 2020. The Moroccan market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م86.79 per share.이익 및 매출 성장 예측CBSE:MSA - 애널리스트 향후 추정치 및 과거 재무 데이터 (MAD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202810,2243,065N/AN/A112/31/20278,2492,295-1123,822212/31/20266,6781,900-1662,936212/31/20255,7851,5898242,648N/A9/30/20255,5771,501N/AN/AN/A6/30/20255,3681,414N/AN/AN/A3/31/20255,1881,340N/AN/AN/A12/31/20245,0081,2671,5282,014N/A9/30/20244,8461,156N/AN/AN/A6/30/20244,6831,0451,3291,708N/A3/31/20244,5029491,1921,520N/A12/31/20234,3208521,0551,332N/A9/30/20234,198859N/AN/AN/A6/30/20234,075866N/AN/AN/A3/31/20234,012841N/AN/AN/A12/31/20223,9498171,2141,501N/A9/30/20223,896805N/AN/AN/A6/30/20223,843793N/AN/AN/A3/31/20223,717729N/AN/AN/A12/31/20213,592666198783N/A9/30/20213,319571N/AN/AN/A6/30/20213,046476N/AN/AN/A3/31/20212,901384N/AN/AN/A12/31/20202,757292-1451,075N/A9/30/20202,837347N/AN/AN/A6/30/20202,916402N/AN/AN/A3/31/20202,913537N/AN/AN/A12/31/20192,9096723881,257N/A9/30/20192,857623N/AN/AN/A6/30/20192,804574N/AN/AN/A3/31/20192,776565N/AN/AN/A12/31/20182,748556N/A951N/A9/30/20182,710611N/AN/AN/A6/30/20182,672666N/AN/AN/A3/31/20182,613632N/AN/AN/A12/31/20172,554599N/A529N/A9/30/20172,559576N/AN/AN/A6/30/20172,564553N/AN/AN/A3/31/20172,565566N/AN/AN/A12/31/20162,567580N/A1,176N/A9/30/20162,487509N/AN/AN/A6/30/20162,407437N/AN/AN/A3/31/20162,288406N/AN/AN/A12/31/20152,168375N/A388N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: MSA 의 연간 예상 수익 증가율(20.5%)이 saving rate(15.2%)보다 높습니다.수익 vs 시장: MSA 의 연간 수익(20.5%)이 MA 시장(11.7%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: MSA 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: MSA 의 수익(연간 18.5%)이 MA 시장(연간 10.4%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: MSA 의 수익(연간 18.5%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: MSA의 자본 수익률은 3년 후 38.4%로 높을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YTransportation 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/08/23 20:29종가2026/08/19 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 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 소스Société d'Exploitation des Ports는 4명의 분석가가 다루고 있습니다. 이 중 2명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Kais KriaaAlphaMenaFadwa AouiniAlphaMenaDounia FilaliBmce Capital Bourse1명의 분석가 더 보기
Price Target Changed • May 13Price target increased by 14% to د.م987Up from د.م865, the current price target is an average from 2 analysts. New target price is 17% above last closing price of د.م843. Stock is up 8.4% over the past year.
Price Target Changed • Mar 20Price target decreased by 7.7% to د.م865Down from د.م937, the current price target is an average from 2 analysts. New target price is 12% above last closing price of د.م775. Stock is up 4.2% over the past year. The company is forecast to post earnings per share of د.م20.90 for next year compared to د.م17.26 last year.
Price Target Changed • Oct 10Price target increased by 21% to د.م887Up from د.م734, the current price target is an average from 2 analysts. New target price is 5.2% below last closing price of د.م935. Stock is up 117% over the past year. The company is forecast to post earnings per share of د.م20.90 for next year compared to د.م17.26 last year.
Price Target Changed • Mar 03Price target increased by 14% to د.م693Up from د.م607, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م720. Stock is up 147% over the past year. The company is forecast to post earnings per share of د.م15.67 for next year compared to د.م11.61 last year.
Price Target Changed • Feb 28Price target increased by 11% to د.م637Up from د.م572, the current price target is an average from 2 analysts. New target price is 13% below last closing price of د.م729. Stock is up 151% over the past year. The company is forecast to post earnings per share of د.م15.20 for next year compared to د.م11.61 last year.
Price Target Changed • May 03Price target increased by 33% to د.م362Up from د.م272, the current price target is provided by 1 analyst. New target price is 28% above last closing price of د.م283. Stock is up 24% over the past year.
Declared Dividend • Jul 08Dividend increased to د.م11.00Dividend of د.م11.00 is 16% higher than last year. Ex-date: 17th July 2026 Payment date: 28th July 2026 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (51% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Price Target Changed • May 13Price target increased by 14% to د.م987Up from د.م865, the current price target is an average from 2 analysts. New target price is 17% above last closing price of د.م843. Stock is up 8.4% over the past year.
Reported Earnings • May 05Full year 2025 earnings: Revenues in line with analyst expectationsFull year 2025 results: Revenue: د.م5.78b (up 16% from FY 2024). Net income: د.م1.59b (up 25% from FY 2024). Profit margin: 28% (up from 25% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Global Infrastructure industry.
New Risk • Apr 17New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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.
Price Target Changed • Mar 20Price target decreased by 7.7% to د.م865Down from د.م937, the current price target is an average from 2 analysts. New target price is 12% above last closing price of د.م775. Stock is up 4.2% over the past year. The company is forecast to post earnings per share of د.م20.90 for next year compared to د.م17.26 last year.
Valuation Update With 7 Day Price Move • Mar 03Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to د.م702, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 16x in the Infrastructure industry globally. Total returns to shareholders of 248% over the past three years.
Board Change • Feb 16Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). Director Anouar Jabbari is the most experienced director on the board, commencing their role in 2024. Independent Director Mustapha Ouafi was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Board Change • Dec 25Less than half of directors are independentThere are 9 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). Director Anouar Jabbari is the most experienced director on the board, commencing their role in 2024. Independent Director Mustapha Ouafi was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
공고 • Dec 18Société d'Exploitation des Ports (CBSE:MSA) signed an agreement to acquire 45% stake in Boluda Maritime Terminals from Boluda Lines SA for €80 million.Société d'Exploitation des Ports (CBSE:MSA) signed an agreement to acquire 45% stake in Boluda Maritime Terminals from Boluda Lines SA for €80 million on December 16, 2025. The transaction is subject to approval by regulatory board / committee and approval of offer by acquirer board. The deal has been approved by the board of Société d'Exploitation des Ports.
Price Target Changed • Oct 10Price target increased by 21% to د.م887Up from د.م734, the current price target is an average from 2 analysts. New target price is 5.2% below last closing price of د.م935. Stock is up 117% over the past year. The company is forecast to post earnings per share of د.م20.90 for next year compared to د.م17.26 last year.
Upcoming Dividend • Jul 10Upcoming dividend of د.م9.50 per shareEligible shareholders must have bought the stock before 17 July 2025. Payment date: 28 July 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Moroccan dividend payers (4.2%). Lower than average of industry peers (2.5%).
공고 • May 26Société d'Exploitation des Ports, Annual General Meeting, Jun 25, 2025Société d'Exploitation des Ports, Annual General Meeting, Jun 25, 2025.
Declared Dividend • May 26Dividend increased to د.م9.50Dividend of د.م9.50 is 12% higher than last year. Ex-date: 17th July 2025 Payment date: 28th July 2025 Dividend yield will be 1.2%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has decreased over the past 5 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to grow by 24% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Apr 30Full year 2024 earnings releasedFull year 2024 results: Revenue: د.م5.01b (up 16% from FY 2023). Net income: د.م1.27b (up 49% from FY 2023). Profit margin: 25% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Global Infrastructure industry.
New Risk • Apr 14New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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.
Price Target Changed • Mar 03Price target increased by 14% to د.م693Up from د.م607, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م720. Stock is up 147% over the past year. The company is forecast to post earnings per share of د.م15.67 for next year compared to د.م11.61 last year.
Price Target Changed • Feb 28Price target increased by 11% to د.م637Up from د.م572, the current price target is an average from 2 analysts. New target price is 13% below last closing price of د.م729. Stock is up 151% over the past year. The company is forecast to post earnings per share of د.م15.20 for next year compared to د.م11.61 last year.
Valuation Update With 7 Day Price Move • Sep 30Investor sentiment improves as stock rises 16%After last week's 16% share price gain to د.م472, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 15x in the Infrastructure industry globally. Total returns to shareholders of 84% over the past three years.
Upcoming Dividend • Jul 18Upcoming dividend of د.م8.50 per shareEligible shareholders must have bought the stock before 24 July 2024. Payment date: 07 August 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (3.6%).
공고 • May 26Société d'Exploitation des Ports, Annual General Meeting, Jun 25, 2024Société d'Exploitation des Ports, Annual General Meeting, Jun 25, 2024. Location: casablanca Morocco
Price Target Changed • May 03Price target increased by 33% to د.م362Up from د.م272, the current price target is provided by 1 analyst. New target price is 28% above last closing price of د.م283. Stock is up 24% over the past year.
Reported Earnings • Apr 28Full year 2023 earnings releasedFull year 2023 results: Revenue: د.م4.32b (up 9.4% from FY 2022). Net income: د.م852.2m (up 4.3% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Global Infrastructure industry.
Reported Earnings • Sep 29First half 2023 earnings releasedFirst half 2023 results: Revenue: د.م2.12b (up 6.3% from 1H 2022). Net income: د.م433.0m (up 13% from 1H 2022). Profit margin: 20% (up from 19% in 1H 2022). 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 10% growth forecast for the Global Infrastructure industry.
Upcoming Dividend • Jul 06Upcoming dividend of د.م8.00 per share at 3.1% yieldEligible shareholders must have bought the stock before 13 July 2023. Payment date: 26 July 2023. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Moroccan dividend payers (4.5%). Lower than average of industry peers (3.8%).
Price Target Changed • May 04Price target increased by 11% to د.م263Up from د.م237, the current price target is an average from 2 analysts. New target price is 17% above last closing price of د.م224. Stock is down 19% over the past year. The company is forecast to post earnings per share of د.م16.30 for next year compared to د.م9.08 last year.
Price Target Changed • Feb 15Price target decreased by 26% to د.م198Down from د.م268, the current price target is provided by 1 analyst. New target price is 6.4% below last closing price of د.م212. Stock is down 26% over the past year. The company is forecast to post earnings per share of د.م16.30 for next year compared to د.م9.08 last year.
Valuation Update With 7 Day Price Move • Jan 06Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to د.م181, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Infrastructure industry globally. Total loss to shareholders of 6.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at د.م187 per share.
Price Target Changed • Jul 06Price target decreased to د.م266Down from د.م287, the current price target is an average from 2 analysts. New target price is 6.8% above last closing price of د.م249. Stock is up 1.2% over the past year. The company is forecast to post earnings per share of د.م13.50 for next year compared to د.م3.98 last year.
Upcoming Dividend • May 30Upcoming dividend of د.م7.20 per shareEligible shareholders must have bought the stock before 06 June 2022. Payment date: 15 June 2022. Trailing yield: 3.1%. Lower than top quartile of Moroccan dividend payers (4.3%). In line with average of industry peers (3.4%).
Price Target Changed • Apr 27Price target increased to د.م260Up from د.م241, the current price target is an average from 2 analysts. New target price is 7.3% below last closing price of د.م280. Stock is up 22% over the past year. The company is forecast to post earnings per share of د.م13.50 for next year compared to د.م3.98 last year.
Price Target Changed • Mar 09Price target increased to د.م260Up from د.م241, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.م270. Stock is up 26% over the past year. The company is forecast to post earnings per share of د.م9.40 for next year compared to د.م3.98 last year.
Upcoming Dividend • Jul 19Upcoming dividend of د.م8.00 per shareEligible shareholders must have bought the stock before 26 July 2021. Payment date: 05 August 2021. Trailing yield: 3.2%. Lower than top quartile of Moroccan dividend payers (4.9%). Higher than average of industry peers (2.7%).
Reported Earnings • Jun 29Full year 2020 earnings released: EPS د.م3.98 (vs د.م9.15 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م2.76b (down 5.2% from FY 2019). Net income: د.م291.9m (down 56% from FY 2019). Profit margin: 11% (down from 23% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.
Price Target Changed • May 23Price target increased to د.م231Up from د.م201, the current price target is provided by 1 analyst. New target price is 7.3% below last closing price of د.م249. Stock is up 36% over the past year.
Reported Earnings • May 04Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م2.85b (down 1.9% from FY 2019). Net income: د.م291.9m (down 56% from FY 2019). Profit margin: 10% (down from 23% in FY 2019).
Is New 90 Day High Low • Feb 04New 90-day high: د.م220The company is up 18% from its price of د.م186 on 05 November 2020. The Moroccan market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م83.26 per share.
Is New 90 Day High Low • Jan 07New 90-day high: د.م215The company is up 16% from its price of د.م185 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 Infrastructure industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م80.92 per share.
Is New 90 Day High Low • Dec 12New 90-day high: د.م205The company is up 10.0% from its price of د.م187 on 11 September 2020. The Moroccan market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Infrastructure industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م82.78 per share.
Is New 90 Day High Low • Nov 11New 90-day high: د.م193The company is up 4.0% from its price of د.م186 on 13 August 2020. The Moroccan market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م76.46 per share.
Is New 90 Day High Low • Oct 01New 90-day low: د.م182The company is down 6.0% from its price of د.م193 on 03 July 2020. The Moroccan market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.م86.79 per share.