Attijariwafa bank SA

CBSE:ATW Stock Report

Market Cap: د.م114.3b

Attijariwafa bank Valuation

Is ATW 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 ATW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate ATW's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate ATW's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As ATW is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ATW. This is calculated by dividing ATW's market cap by their current earnings.
What is ATW's PE Ratio?
PE Ratio12.8x
Earningsد.م8.90b
Market Capد.م114.28b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ATW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15x
BCP Banque Centrale Populaire
15.3xn/aد.م56.9b
BOA Bank of Africa
13.2x6.3%د.م43.8b
CIH Crédit Immobilier et Hôtelier Société Anonyme
15.3x8.4%د.م12.5b
CDM Crédit du Maroc
16.1x9.1%د.م10.2b
ATW Attijariwafa bank
12.8x7.2%د.م114.3b

Price-To-Earnings vs Peers: ATW is good value based on its Price-To-Earnings Ratio (12.8x) compared to the peer average (15x).

Price to Earnings Ratio vs Industry

How does ATW's PE Ratio compare vs other companies in the African Banks Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ATW 12.8xIndustry Avg. 5.2xNo. of Companies21PE0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ATW is expensive based on its Price-To-Earnings Ratio (12.8x) compared to the African Banks industry average (5.2x).

Price to Earnings Ratio vs Fair Ratio

What is ATW'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.

ATW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.8x
Fair PE Ratio17.8x

Price-To-Earnings vs Fair Ratio: ATW is good value based on its Price-To-Earnings Ratio (12.8x) compared to the estimated Fair Price-To-Earnings Ratio (17.8x).

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 ATW forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentد.م566.00
د.م565.33
-0.1%
5.9%د.م605.00د.م523.00n/a3
Dec ’25د.م574.00
د.م576.33
+0.4%
6.5%د.م605.00د.م523.00n/a3
Nov ’25د.م549.90
د.م575.00
+4.6%
6.4%د.م605.00د.م523.00n/a3
Oct ’25د.م544.00
د.م578.75
+6.4%
5.6%د.م605.00د.م523.00n/a4
Sep ’25د.م544.80
د.م559.33
+2.7%
4.9%د.م590.00د.م523.00n/a3
Aug ’25د.م554.00
د.م542.00
-2.2%
7.1%د.م590.00د.م490.00n/a4
Jul ’25د.م515.00
د.م542.00
+5.2%
7.1%د.م590.00د.م490.00n/a4
Jun ’25د.م515.00
د.م534.50
+3.8%
6.7%د.م590.00د.م490.00n/a4
May ’25د.م501.60
د.م534.50
+6.6%
6.7%د.م590.00د.م490.00n/a4
Apr ’25د.م504.00
د.م534.50
+6.1%
6.7%د.م590.00د.م490.00n/a4
Mar ’25د.م504.50
د.م497.25
-1.4%
6.8%د.م531.00د.م445.00n/a4
Feb ’25د.م485.00
د.م514.33
+6.0%
3.4%د.م530.00د.م490.00n/a3
Jan ’25د.م460.00
د.م526.50
+14.5%
0.7%د.م530.00د.م523.00n/a2
Dec ’24د.م458.00
د.م498.00
+8.7%
8.1%د.م530.00د.م441.00د.م574.003
Nov ’24د.م465.00
د.م474.00
+1.9%
5.0%د.م497.00د.م441.00د.م549.903
Oct ’24د.م456.00
د.م462.67
+1.5%
5.3%د.م497.00د.م441.00د.م544.003
Sep ’24د.م455.00
د.م462.67
+1.7%
5.3%د.م497.00د.م441.00د.م544.803
Aug ’24د.م460.00
د.م462.67
+0.6%
5.3%د.م497.00د.م441.00د.م554.003
Jul ’24د.م444.00
د.م461.00
+3.8%
5.5%د.م497.00د.م441.00د.م515.003
Jun ’24د.م427.40
د.م461.00
+7.9%
5.5%د.م497.00د.م441.00د.م515.003
May ’24د.م404.90
د.م471.00
+16.3%
5.5%د.م497.00د.م445.00د.م501.602
Apr ’24د.م396.15
د.م471.00
+18.9%
5.5%د.م497.00د.م445.00د.م504.002
Mar ’24د.م415.00
د.م462.00
+11.3%
7.6%د.م497.00د.م427.00د.م504.502
Feb ’24د.م365.00
د.م462.00
+26.6%
7.6%د.م497.00د.م427.00د.م485.002
Jan ’24د.م392.00
د.م462.00
+17.9%
7.6%د.م497.00د.م427.00د.م460.002
Dec ’23د.م410.00
د.م462.00
+12.7%
7.6%د.م497.00د.م427.00د.م458.002

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/30 04:31
End of Day Share Price 2024/12/30 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Attijariwafa bank SA is covered by 9 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ranya GnabaAlphaMena
Jaap MeijerArqaam Capital Research Offshore S.A.L.
Craig MetherellAvior Capital Markets