Bank of Africa

CBSE:BOA Stock Report

Market Cap: د.م42.7b

Bank of Africa Valuation

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

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

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BOA. This is calculated by dividing BOA's market cap by their current earnings.
What is BOA's PE Ratio?
PE Ratio12.9x
Earningsد.م3.32b
Market Capد.م42.73b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BOA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.2x
BCP Banque Centrale Populaire
15.9xn/aد.م58.9b
ATW Attijariwafa bank
13x7.2%د.م115.9b
CIH Crédit Immobilier et Hôtelier Société Anonyme
15.5x8.4%د.م12.6b
CDM Crédit du Maroc
16.3x9.1%د.م10.3b
BOA Bank of Africa
12.9x6.3%د.م42.7b

Price-To-Earnings vs Peers: BOA is good value based on its Price-To-Earnings Ratio (12.9x) compared to the peer average (15.2x).

Price to Earnings Ratio vs Industry

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

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BOA 12.9xIndustry Avg. 5.2xNo. of Companies24PE0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BOA is expensive based on its Price-To-Earnings Ratio (12.9x) compared to the African Banks industry average (5.2x).

Price to Earnings Ratio vs Fair Ratio

What is BOA'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.

BOA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.9x
Fair PE Ratio16.6x

Price-To-Earnings vs Fair Ratio: BOA is good value based on its Price-To-Earnings Ratio (12.9x) compared to the estimated Fair Price-To-Earnings Ratio (16.6x).

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 BOA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentد.م198.00
د.م198.10
+0.05%
6.5%د.م211.00د.م185.19n/a2
Dec ’25د.م197.90
د.م198.10
+0.1%
6.5%د.م211.00د.م185.19n/a2
Nov ’25د.م190.00
د.م197.60
+4.0%
6.3%د.م210.00د.م185.19n/a2
Oct ’25د.م188.15
د.م190.61
+1.3%
2.8%د.م196.03د.م185.19n/a2
Sep ’25د.م189.13
د.م190.61
+0.8%
2.8%د.م196.03د.م185.19n/a2
Aug ’25د.م193.02
د.م190.61
-1.3%
2.8%د.م196.03د.م185.19n/a2
Jul ’25د.م188.15
د.م190.61
+1.3%
2.8%د.م196.03د.م185.19n/a2
Jun ’25د.م193.91
د.م177.81
-8.3%
4.2%د.م185.19د.م170.42n/a2
May ’25د.م189.13
د.م177.81
-6.0%
4.2%د.م185.19د.م170.42n/a2
Apr ’25د.م192.09
د.م177.81
-7.4%
4.2%د.م185.19د.م170.42n/a2
Mar ’25د.م197.01
د.م177.81
-9.7%
4.2%د.م185.19د.م170.42n/a2
Feb ’25د.م190.12
د.م177.81
-6.5%
4.2%د.م185.19د.م170.42n/a2
Jan ’25د.م176.82
د.م177.81
+0.6%
4.2%د.م185.19د.م170.42n/a2
Dec ’24د.م170.42
د.م179.78
+5.5%
3.0%د.م185.19د.م174.36د.م197.902
Dec ’23د.م162.54
د.م187.16
+15.2%
3.9%د.م194.37د.م179.95د.م170.422

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 01:16
End of Day Share Price 2024/12/20 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

Bank of Africa is covered by 6 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kais KriaaAlphaMena
Ranya GnabaAlphaMena
Jaap MeijerArqaam Capital Research Offshore S.A.L.