TAQA Morocco S.A. produces and supplies electricity in Morocco.
Price History & Performance
|Historical stock prices|
|Current Share Price||د.م1,061.00|
|52 Week High||د.م897.00|
|52 Week Low||د.م1,099.00|
|1 Month Change||6.10%|
|3 Month Change||9.04%|
|1 Year Change||15.45%|
|3 Year Change||23.52%|
|5 Year Change||54.75%|
|Change since IPO||134.74%|
Recent News & Updates
|TQM||MA Renewable Energy||MA Market|
Return vs Industry: TQM underperformed the MA Renewable Energy industry which returned 17.8% over the past year.
Return vs Market: TQM underperformed the MA Market which returned 26.2% over the past year.
Stable Share Price: TQM is not significantly more volatile than the rest of MA stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: TQM's weekly volatility (3%) has been stable over the past year.
About the Company
TAQA Morocco S.A. produces and supplies electricity in Morocco. The company operates 6 coal-fired thermal power plants with the total capacity of 2,056 MW. The company was founded in 1997 and is headquartered in El Jadida, Morocco.
TAQA Morocco Fundamentals Summary
|TQM fundamental statistics|
Is TQM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|TQM income statement (TTM)|
|Cost of Revenue||د.م3.77b|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Nov 12, 2021
|Earnings per share (EPS)||37.95|
|Net Profit Margin||12.37%|
How did TQM perform over the long term?See historical performance and comparison
3.3%Current Dividend Yield
Is TAQA Morocco undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: TQM (MAD1061) is trading above our estimate of fair value (MAD888.67)
Significantly Below Fair Value: TQM is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: TQM is poor value based on its PE Ratio (28x) compared to the Global Renewable Energy industry average (17.5x).
PE vs Market: TQM is poor value based on its PE Ratio (28x) compared to the MA market (26.8x).
Price to Earnings Growth Ratio
PEG Ratio: TQM is poor value based on its PEG Ratio (3x)
Price to Book Ratio
PB vs Industry: TQM is overvalued based on its PB Ratio (4.8x) compared to the XF Renewable Energy industry average (0.6x).
How is TAQA Morocco forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TQM's forecast earnings growth (9.4% per year) is above the savings rate (9.1%).
Earnings vs Market: TQM's earnings (9.4% per year) are forecast to grow slower than the MA market (13.1% per year).
High Growth Earnings: TQM's earnings are forecast to grow, but not significantly.
Revenue vs Market: TQM's revenue (7% per year) is forecast to grow faster than the MA market (6.8% per year).
High Growth Revenue: TQM's revenue (7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TQM's Return on Equity is forecast to be low in 3 years time (18.8%).
How has TAQA Morocco performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TQM has high quality earnings.
Growing Profit Margin: TQM's current net profit margins (12.4%) are higher than last year (11.3%).
Past Earnings Growth Analysis
Earnings Trend: TQM's earnings have declined by 1.8% per year over the past 5 years.
Accelerating Growth: TQM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: TQM had negative earnings growth (-8.2%) over the past year, making it difficult to compare to the Renewable Energy industry average (14.4%).
Return on Equity
High ROE: TQM's Return on Equity (18.2%) is considered low.
How is TAQA Morocco's financial position?
Financial Position Analysis
Short Term Liabilities: TQM's short term assets (MAD5.7B) exceed its short term liabilities (MAD3.1B).
Long Term Liabilities: TQM's short term assets (MAD5.7B) do not cover its long term liabilities (MAD10.3B).
Debt to Equity History and Analysis
Debt Level: TQM's debt to equity ratio (160.2%) is considered high.
Reducing Debt: TQM's debt to equity ratio has reduced from 260.4% to 160.2% over the past 5 years.
Debt Coverage: TQM's debt is well covered by operating cash flow (25.2%).
Interest Coverage: TQM's interest payments on its debt are well covered by EBIT (4.6x coverage).
What is TAQA Morocco current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TQM's dividend (3.3%) is higher than the bottom 25% of dividend payers in the MA market (2.22%).
High Dividend: TQM's dividend (3.3%) is low compared to the top 25% of dividend payers in the MA market (4.86%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, TQM has been paying a dividend for less than 10 years.
Growing Dividend: TQM has only been paying a dividend for 2 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (92.2%), TQM's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TQM's dividends in 3 years are forecast to be covered by earnings (80.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. Abdelmajid Iraqui Houssaini serves as the Chief Executive Officer of TAQA Morocco S.A. (formerly known as Jorf Lasfar Energy Company). Mr. Houssaini has been Chairman and Member of Management Board at...
Experienced Management: TQM's management team is considered experienced (4.4 years average tenure).
Experienced Board: TQM's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
TAQA Morocco S.A.'s employee growth, exchange listings and data sources
- Name: TAQA Morocco S.A.
- Ticker: TQM
- Exchange: CBSE
- Founded: 1997
- Industry: Independent Power Producers and Energy Traders
- Sector: Utilities
- Market Cap: د.م25.027b
- Shares outstanding: 23.59m
- Website: https://www.taqamorocco.ma
Number of Employees
- TAQA Morocco S.A.
- Centrale Thermique Jorf Lasfar
- Km 23, Route secondaire 301
- El Jadida
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/21 21:00|
|End of Day Share Price||2021/10/21 00:00|
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.