Itissalat Al-Maghrib (IAM)

CBSE:IAM Stock Report

Mkt Cap: د.م91.9b

We’ve recently updated our valuation analysis.

Itissalat Al-Maghrib (IAM) Valuation

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

[object Object] Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

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/Revenue3x
Enterprise Value/EBITDA6.2x
PEG Ratio2.2x

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.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.5x
ORDS Ooredoo Q.P.S.C
10x-3.8%ر.ق28.4b
ELISA Elisa Oyj
21.9x3.9%€8.0b
6823 HKT Trust and HKT
14.9x2.2%HK$71.8b
O2D Telefónica Deutschland Holding
39.1x34.1%€6.8b
IAM Itissalat Al-Maghrib (IAM)
25.5x11.7%د.م91.9b

Price-To-Earnings vs Peers: IAM is expensive based on its Price-To-Earnings Ratio (25.5x) compared to the peer average (21.5x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.3%
n/an/an/a

Price-To-Earnings vs Industry: IAM is expensive based on its Price-To-Earnings Ratio (25.5x) compared to the Global Telecom industry average (17.1x)


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 Ratio25.5x
Fair PE Ration/a

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


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 (MAD104.5) is trading below our estimate of fair value (MAD118.82)

Significantly Below Fair Value: IAM is trading below fair value, but not by a significant amount.


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
Currentد.م104.50
د.م137.80
+31.9%
7.5%د.م150.20د.م123.00n/a4
Nov ’23د.م102.40
د.م137.80
+34.6%
7.5%د.م150.20د.م123.00n/a4
Oct ’23د.م114.30
د.م139.80
+22.3%
6.2%د.م150.20د.م129.00n/a4
Sep ’23د.م121.55
د.م139.80
+15.0%
6.2%د.م150.20د.م129.00n/a4
Aug ’23د.م118.95
د.م144.40
+21.4%
7.6%د.م154.00د.م129.00n/a3
Jul ’23د.م119.00
د.م145.67
+22.4%
6.3%د.م154.00د.م133.00n/a3
Jun ’23د.م125.95
د.م149.25
+18.5%
6.7%د.م160.00د.م133.00n/a4
May ’23د.م134.00
د.م149.25
+11.4%
6.7%د.م160.00د.م133.00n/a4
Apr ’23د.م129.85
د.م152.44
+17.4%
5.4%د.م164.00د.م143.00n/a5
Mar ’23د.م132.30
د.م152.44
+15.2%
5.4%د.م164.00د.م143.00n/a5
Feb ’23د.م138.50
د.م152.00
+9.7%
4.2%د.م160.00د.م145.00n/a5
Jan ’23د.م139.45
د.م152.00
+9.0%
4.2%د.م160.00د.م145.00n/a5
Dec ’22د.م140.50
د.م153.96
+9.6%
6.0%د.م169.00د.م145.00د.م104.505
Nov ’22د.م143.50
د.م153.96
+7.3%
6.0%د.م169.00د.م145.00د.م102.405
Oct ’22د.م142.00
د.م154.60
+8.9%
6.0%د.م170.00د.م145.00د.م114.305
Sep ’22د.م140.50
د.م153.25
+9.1%
6.4%د.م170.00د.م145.00د.م121.554
Aug ’22د.م135.80
د.م154.60
+13.8%
6.0%د.م170.00د.م145.00د.م118.955
Jul ’22د.م136.60
د.م154.40
+13.0%
4.2%د.م163.00د.م145.00د.م119.005
Jun ’22د.م140.05
د.م152.42
+8.8%
5.7%د.م163.00د.م140.10د.م125.955
May ’22د.م138.00
د.م152.42
+10.4%
5.7%د.م163.00د.م140.10د.م134.005
Apr ’22د.م139.20
د.م149.68
+7.5%
7.9%د.م163.00د.م131.00د.م129.856
Mar ’22د.م137.65
د.م152.02
+10.4%
8.9%د.م172.00د.م131.00د.م132.306
Feb ’22د.م147.00
د.م150.13
+2.1%
7.4%د.م167.00د.م131.00د.م138.507
Jan ’22د.م145.00
د.م149.84
+3.3%
7.4%د.م167.00د.م131.00د.م139.457
Dec ’21د.م143.00
د.م149.86
+4.8%
7.4%د.م167.00د.م131.00د.م140.507

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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