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ADI

Alliances Developpement ImmobilierCBSE:ADI Stock Report

Market Cap

د.م927.3m

7D

1.0%

1Y

31.3%

Updated

19 Oct, 2021

Data

Company Financials +
ADI fundamental analysis
Snowflake Score
Valuation1/6
Future Growth5/6
Past Performance0/6
Financial Health5/6
Dividends0/6

ADI Overview

Alliances Developpement Immobilier S.A. engages in the real estate development activities in Morocco.

Price History & Performance

Summary of all time highs, changes and price drops for Alliances Developpement Immobilier
Historical stock prices
Current Share Priceد.م42.00
52 Week Highد.م29.25
52 Week Lowد.م48.20
Beta0.91
1 Month Change-3.36%
3 Month Change1.62%
1 Year Change31.25%
3 Year Change-56.48%
5 Year Change-52.70%
Change since IPO-96.60%

Recent News & Updates

Shareholder Returns

ADIMA Real EstateMA Market
7D1.0%1.6%1.0%
1Y31.3%32.9%26.4%

Return vs Industry: ADI underperformed the MA Real Estate industry which returned 34.9% over the past year.

Return vs Market: ADI exceeded the MA Market which returned 26.6% over the past year.

Price Volatility

Is ADI's price volatile compared to industry and market?
ADI volatility
ADI Beta0.91
Industry Beta0.82
Market Beta1

Stable Share Price: ADI is more volatile than 75% of MA stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ADI's weekly volatility (5%) has been stable over the past year, but is still higher than 75% of MA stocks.

About the Company

FoundedEmployeesCEOWebsite
1994263Mohamed Alami Lazraqhttps://www.alliances.co.ma

Alliances Developpement Immobilier S.A. engages in the real estate development activities in Morocco. The company develops social and medium housing projects, residential properties, and golf resorts. It also provides real estate services.

Alliances Developpement Immobilier Fundamentals Summary

How do Alliances Developpement Immobilier's earnings and revenue compare to its market cap?
ADI fundamental statistics
Market Capد.م927.30m
Earnings (TTM)-د.م404.14m
Revenue (TTM)د.م1.34b

0.7x

P/S Ratio

-2.3x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ADI income statement (TTM)
Revenueد.م1.34b
Cost of Revenueد.م821.68m
Gross Profitد.م519.01m
Expensesد.م923.15m
Earnings-د.م404.14m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-18.30
Gross Margin38.71%
Net Profit Margin-30.14%
Debt/Equity Ratio78.3%

How did ADI perform over the long term?

See historical performance and comparison

Valuation

Is Alliances Developpement Immobilier undervalued compared to its fair value and its price relative to the market?

0.32x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: ADI (MAD42) is trading above our estimate of fair value (MAD21.09)

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


Price To Earnings Ratio

PE vs Industry: ADI is unprofitable, so we can't compare its PE Ratio to the African Real Estate industry average.

PE vs Market: ADI is unprofitable, so we can't compare its PE Ratio to the MA market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ADI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ADI is good value based on its PB Ratio (0.3x) compared to the MA Real Estate industry average (0.5x).


Future Growth

How is Alliances Developpement Immobilier forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

81.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ADI is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (9.1%).

Earnings vs Market: ADI is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: ADI's is expected to become profitable in the next 3 years.

Revenue vs Market: ADI's revenue (31.6% per year) is forecast to grow faster than the MA market (6.7% per year).

High Growth Revenue: ADI's revenue (31.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ADI's Return on Equity is forecast to be low in 3 years time (7.5%).


Past Performance

How has Alliances Developpement Immobilier performed over the past 5 years?

4.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ADI is currently unprofitable.

Growing Profit Margin: ADI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ADI is unprofitable, but has reduced losses over the past 5 years at a rate of 4.6% per year.

Accelerating Growth: Unable to compare ADI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ADI is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-1.9%).


Return on Equity

High ROE: ADI has a negative Return on Equity (-10.79%), as it is currently unprofitable.


Financial Health

How is Alliances Developpement Immobilier's financial position?


Financial Position Analysis

Short Term Liabilities: ADI's short term assets (MAD11.7B) exceed its short term liabilities (MAD6.3B).

Long Term Liabilities: ADI's short term assets (MAD11.7B) exceed its long term liabilities (MAD3.2B).


Debt to Equity History and Analysis

Debt Level: ADI's debt to equity ratio (78.3%) is considered high.

Reducing Debt: ADI's debt to equity ratio has reduced from 433.4% to 78.3% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable ADI has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: ADI is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 49% per year.


Dividend

What is Alliances Developpement Immobilier current dividend yield, its reliability and sustainability?

4.76%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ADI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ADI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ADI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ADI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ADI is not paying a notable dividend for the MA market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ADI's dividend in 3 years as they are not forecast to pay a notable one for the MA market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Mohamed Alami Lazraq

no data

Tenure

Mr. Mohamed Alami Nafakh Lazraq serves as the Chairman and President at Alliances Developpement Immobilier SA and serves as its Chief Executive Officer.


Leadership Team

Experienced Management: ADI's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Alliances Developpement Immobilier S.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Alliances Developpement Immobilier S.A.
  • Ticker: ADI
  • Exchange: CBSE
  • Founded: 1994
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: د.م927.301m
  • Shares outstanding: 22.08m
  • Website: https://www.alliances.co.ma

Number of Employees


Location

  • Alliances Developpement Immobilier S.A.
  • 16, Rue Ali Abderrezak Street
  • Casablanca
  • Morocco

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 16:30
End of Day Share Price2021/10/18 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.