Attijariwafa bank SA

CBSE:ATW Stock Report

Market Cap: د.م149.1b

Attijariwafa bank Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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.

د.م32.97
Fair Value
2.1k% overvalued intrinsic discount
3
Number of Analysts

Below Fair Value: ATW (MAD740) is trading above our estimate of fair value (MAD32.97)

Significantly Below Fair Value: ATW is trading above our estimate of fair value.

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 Ratio14.2x
Earningsد.م10.48b
Market Capد.م149.14b

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 Average14x
BCP Banque Centrale Populaire
13.3x8.17%د.م59.5b
BOA Bank of Africa
13.9x8.10%د.م52.0b
CIH Crédit Immobilier et Hôtelier Société Anonyme
15.3x15.58%د.م14.9b
CDM Crédit du Maroc
13.7x12.87%د.م10.9b
ATW Attijariwafa bank
14.2x6.55%د.م149.1b

Price-To-Earnings vs Peers: ATW is expensive based on its Price-To-Earnings Ratio (14.2x) compared to the peer average (14x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ATW 14.2xIndustry Avg. 6.2xNo. of Companies17PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ATW is expensive based on its Price-To-Earnings Ratio (14.2x) compared to the African Banks industry average (6.2x).

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 Ratio14.2x
Fair PE Ratio15.2x

Price-To-Earnings vs Fair Ratio: ATW is good value based on its Price-To-Earnings Ratio (14.2x) compared to the estimated Fair Price-To-Earnings Ratio (15.2x).

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.م740.00
د.م739.33
-0.09%
5.89%د.م800.00د.م700.00n/a3
Sep ’26د.م780.10
د.م685.25
-12.16%
14.74%د.م800.00د.م523.00n/a4
Aug ’26د.م750.00
د.م671.25
-10.50%
15.17%د.م800.00د.م523.00n/a4
Jul ’26د.م682.00
د.م638.00
-6.45%
15.82%د.م800.00د.م523.00n/a4
Jun ’26د.م664.00
د.م631.25
-4.93%
16.24%د.م800.00د.م523.00n/a4
May ’26د.م660.00
د.م631.25
-4.36%
16.24%د.م800.00د.م523.00n/a4
Apr ’26د.م699.80
د.م631.25
-9.80%
16.24%د.م800.00د.م523.00n/a4
Mar ’26د.م640.10
د.م565.33
-11.68%
5.93%د.م605.00د.م523.00n/a3
Feb ’26د.م631.00
د.م565.33
-10.41%
5.93%د.م605.00د.م523.00n/a3
Jan ’26د.م569.00
د.م565.33
-0.64%
5.93%د.م605.00د.م523.00n/a3
Dec ’25د.م574.00
د.م576.33
+0.41%
6.55%د.م605.00د.م523.00n/a3
Nov ’25د.م549.90
د.م575.00
+4.56%
6.42%د.م605.00د.م523.00n/a3
Oct ’25د.م544.00
د.م578.75
+6.39%
5.64%د.م605.00د.م523.00د.م725.004
Sep ’25د.م544.80
د.م559.33
+2.67%
4.94%د.م590.00د.م523.00د.م780.103
Aug ’25د.م554.00
د.م542.00
-2.17%
7.08%د.م590.00د.م490.00د.م750.004
Jul ’25د.م515.00
د.م542.00
+5.24%
7.08%د.م590.00د.م490.00د.م682.004
Jun ’25د.م515.00
د.م534.50
+3.79%
6.74%د.م590.00د.م490.00د.م664.004
May ’25د.م501.60
د.م534.50
+6.56%
6.74%د.م590.00د.م490.00د.م660.004
Apr ’25د.م504.00
د.م534.50
+6.05%
6.74%د.م590.00د.م490.00د.م699.804
Mar ’25د.م504.50
د.م497.25
-1.44%
6.81%د.م531.00د.م445.00د.م640.104
Feb ’25د.م485.00
د.م514.33
+6.05%
3.39%د.م530.00د.م490.00د.م631.003
Jan ’25د.م460.00
د.م526.50
+14.46%
0.66%د.م530.00د.م523.00د.م569.002
Dec ’24د.م458.00
د.م498.00
+8.73%
8.11%د.م530.00د.م441.00د.م574.003
Nov ’24د.م465.00
د.م474.00
+1.94%
5.05%د.م497.00د.م441.00د.م549.903
Oct ’24د.م456.00
د.م462.67
+1.46%
5.31%د.م497.00د.م441.00د.م544.003
د.م739.33
Fair Value
0.09% overvalued intrinsic discount
3
Number of Analysts

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 Analysis2025/10/05 21:45
End of Day Share Price 2025/10/03 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Attijariwafa bank SA is covered by 9 analysts. 4 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
Kais KriaaAlphaMena
Jaap MeijerArqaam Capital Research Offshore S.A.L.