Itissalat Al-Maghrib (IAM) S.A.

CBSE:IAM Stock Report

Market Cap: د.م81.8b

Itissalat Al-Maghrib (IAM) Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow 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.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: IAM (MAD93.01) is trading above our estimate of future cash flow value (MAD32.54)

Significantly Below Future Cash Flow Value: IAM is trading above our estimate of future cash flow value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for IAM. This is calculated by dividing IAM's market cap by their current earnings.
What is IAM's PE Ratio?
PE Ratio11.7x
Earningsد.م6.97b
Market Capد.م81.76b

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.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12x
HTO Hellenic Telecommunications Organization
10.4x-0.42%€7.4b
A030200 KT
8x-0.13%₩14.2t
ELISA Elisa Oyj
19.1x5.97%€6.6b
TKA Telekom Austria
10.5x3.19%€6.6b
IAM Itissalat Al-Maghrib (IAM)
11.7x-6.75%د.م81.8b

Price-To-Earnings vs Peers: IAM is good value based on its Price-To-Earnings Ratio (11.7x) compared to the peer average (12x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

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

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IAM 11.7xIndustry Avg. 17.0xNo. of Companies30PE01224364860+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IAM is good value based on its Price-To-Earnings Ratio (11.7x) compared to the Global Telecom industry average (17x).

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 Ratio11.7x
Fair PE Ration/a

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

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.م93.01
د.م107.67
+15.76%
6.54%د.م117.00د.م100.00n/a3
May ’27د.م95.50
د.م106.33
+11.34%
7.13%د.م117.00د.م100.00n/a3
Apr ’27د.م95.50
د.م107.33
+12.39%
8.38%د.م120.00د.م100.00n/a3
Mar ’27د.م99.00
د.م107.33
+8.42%
8.38%د.م120.00د.م100.00n/a3
Feb ’27د.م107.00
د.م109.33
+2.18%
10.19%د.م125.00د.م100.00n/a3
Jan ’27د.م109.00
د.م109.33
+0.31%
10.19%د.م125.00د.م100.00n/a3
Dec ’26د.م113.90
د.م107.67
-5.47%
11.78%د.م125.00د.م95.00n/a3
Nov ’26د.م120.00
د.م108.33
-9.72%
12.55%د.م127.00د.م95.00n/a3
Oct ’26د.م113.50
د.م108.57
-4.35%
11.52%د.م125.00د.م94.70n/a3
Sep ’26د.م123.60
د.م108.57
-12.16%
11.52%د.م125.00د.م94.70n/a3
Aug ’26د.م122.50
د.م108.57
-11.37%
11.52%د.م125.00د.م94.70n/a3
Jul ’26د.م111.50
د.م104.90
-5.92%
9.28%د.م118.00د.م94.70n/a3
Jun ’26د.م108.85
د.م104.90
-3.63%
9.28%د.م118.00د.م94.70n/a3
May ’26د.م114.45
د.م106.57
-6.89%
8.93%د.م118.00د.م94.70د.م95.503
Apr ’26د.م122.50
د.م106.67
-12.93%
8.81%د.م118.00د.م95.00د.م95.503
Mar ’26د.م114.00
د.م105.00
-7.89%
9.17%د.م118.00د.م95.00د.م99.003
Feb ’26د.م106.30
د.م102.33
-3.73%
5.99%د.م110.00د.م95.00د.م107.003
Jan ’26د.م82.01
د.م102.33
+24.78%
5.99%د.م110.00د.م95.00د.م109.003
Dec ’25د.م85.90
د.م106.00
+23.40%
2.78%د.م110.00د.م103.00د.م113.903
Nov ’25د.م88.24
د.م106.00
+20.13%
2.78%د.م110.00د.م103.00د.م120.003
Oct ’25د.م93.04
د.م106.67
+14.65%
2.21%د.م110.00د.م105.00د.م113.503
Sep ’25د.م93.16
د.م104.33
+11.98%
1.12%د.م105.00د.م102.30د.م123.604
Aug ’25د.م90.83
د.م104.33
+14.86%
1.12%د.م105.00د.م102.30د.م122.504
Jul ’25د.م90.45
د.م103.90
+14.87%
1.22%د.م105.40د.م102.30د.م111.503
Jun ’25د.م92.00
د.م103.90
+12.93%
1.22%د.م105.40د.م102.30د.م108.853
May ’25د.م96.45
د.م103.90
+7.72%
1.22%د.م105.40د.م102.30د.م114.453
د.م107.67
Fair Value
13.6% undervalued intrinsic discount
3
Number of Analysts

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 Analysis2026/05/18 07:52
End of Day Share Price 2026/05/15 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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

Itissalat Al-Maghrib (IAM) S.A. is covered by 15 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
Kais KriaaAlphaMena
Ziad ItaniArqaam Capital Research Offshore S.A.L.
Stéphane SchlatterBanco Santander