Itissalat Al-Maghrib (IAM) S.A.

ENXTPA:IAM Stock Report

Market Cap: €7.6b

Itissalat Al-Maghrib (IAM) Valuation

Is IAM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of IAM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IAM (€8.05) is trading below our estimate of fair value (€11.84)

Significantly Below Fair Value: IAM is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for IAM?

Other financial metrics that can be useful for relative valuation.

IAM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.7x
Enterprise Value/EBITDA5.7x
PEG Ratio2x

Price to Earnings Ratio vs Peers

How does IAM's PE Ratio compare to its peers?

The above table shows the PE ratio for IAM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.2x
ORA Orange
12.9x13.6%€26.3b
ELISA Elisa Oyj
19x5.5%€7.0b
O2D Telefónica Deutschland Holding
26.5x-41.1%€7.2b
6823 HKT Trust and HKT
14.5x5.1%HK$73.1b
IAM Itissalat Al-Maghrib (IAM)
64.1x31.7%€80.2b

Price-To-Earnings vs Peers: IAM is expensive based on its Price-To-Earnings Ratio (64.1x) compared to the peer average (17x).


Price to Earnings Ratio vs Industry

How does IAM's PE Ratio compare vs other companies in the European Telecom Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a19.7%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a19.7%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: IAM is expensive based on its Price-To-Earnings Ratio (64.1x) compared to the European Telecom industry average (17.9x).


Price to Earnings Ratio vs Fair Ratio

What is IAM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IAM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio64.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate IAM's Price-To-Earnings Fair Ratio for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IAM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€8.05
€9.95
+23.6%
2.8%€10.32€9.67n/a3
Nov ’25€8.30
€9.95
+19.9%
2.8%€10.32€9.67n/a3
Oct ’25€8.00
€9.86
+23.3%
2.1%€10.16€9.70n/a3
Sep ’25€8.70
€9.75
+12.1%
1.2%€9.84€9.55n/a4
Aug ’25€8.25
€9.75
+18.2%
1.2%€9.84€9.55n/a4
Jul ’25€8.15
€9.59
+17.7%
1.2%€9.73€9.44n/a3
Jun ’25€8.00
€9.59
+19.9%
1.2%€9.73€9.44n/a3
May ’25€8.00
€9.59
+19.9%
1.2%€9.73€9.44n/a3
Apr ’25€9.10
€9.58
+5.3%
1.7%€9.80€9.37n/a4
Mar ’25€9.00
€9.58
+6.5%
1.7%€9.80€9.37n/a4
Feb ’25€8.60
€9.86
+14.7%
3.8%€10.39€9.56n/a3
Jan ’25€8.50
€9.86
+16.1%
3.8%€10.39€9.56n/a3
Dec ’24€8.60
€9.49
+10.4%
12.1%€11.02€7.80n/a5
Nov ’24€9.15
€9.95
+8.7%
14.8%€11.97€7.95€8.305
Oct ’24€9.45
€9.95
+5.3%
14.8%€11.97€7.95€8.005
Sep ’24€9.75
€9.95
+2.1%
14.8%€11.97€7.95€8.705
Aug ’24€9.60
€9.95
+3.6%
14.8%€11.97€7.95€8.255
Jul ’24€8.85
€9.70
+9.6%
14.3%€11.53€7.78€8.155
Jun ’24€7.75
€9.70
+25.1%
14.3%€11.53€7.78€8.005
May ’24€7.60
€11.08
+45.8%
2.1%€11.36€10.78€8.003
Apr ’24€8.84
€11.00
+24.4%
1.5%€11.16€10.77€9.103
Mar ’24€8.88
€11.73
+32.1%
6.6%€12.78€10.84€9.004
Feb ’24€8.86
€11.66
+31.6%
7.4%€12.90€10.72€8.604
Jan ’24€8.60
€11.66
+35.6%
7.4%€12.90€10.72€8.504
Dec ’23€9.40
€12.69
+35.0%
7.5%€13.83€11.33€8.604
Nov ’23€9.66
€12.69
+31.4%
7.5%€13.83€11.33€9.154

Analyst Forecast: Target price is less than 20% higher than the current share price.


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