Valuation: Itissalat Al-Maghrib (IAM) S.A.

Market Cap 7.91TCr 848.47Cr 742.34Cr 684.66Cr 630.69Cr 1.19TCr 82TCr 1.22TCr 8.18TCr 3.22TCr 40TCr 3.19TCr 3.12TCr 1,37800Cr P/E 2026 *
14.5x
P/E 2027 * 14.3x
Enterprise Value 9.61TCr 1.03TCr 901.55Cr 831.5Cr 765.95Cr 1.45TCr 99TCr 1.48TCr 9.94TCr 3.91TCr 49TCr 3.87TCr 3.78TCr 1,67300Cr EV / Sales 2026 *
2.59x
EV / Sales 2027 * 2.52x
Free-Float
24.96%
Yield 2026 *
4.69%
Yield 2027 * 4.77%
1 day-1.53%
1 week-1.64%
Current month-1.96%
1 month-2.17%
3 months-9.09%
6 months-18.96%
Current year-17.43%
1 week 90
Extreme 90
91.95
1 month 90
Extreme 90
93.5
Current year 89.99
Extreme 89.99
114.4
1 year 89.99
Extreme 89.99
130
3 years 82.01
Extreme 82.01
130
5 years 75.55
Extreme 75.55
144.75
10 years 75.55
Extreme 75.55
162.5
Manager TitleAgeSince
Chief Executive Officer 65 01/03/2025
Director of Finance/CFO - -
Corporate Officer/Principal - -
Director TitleAgeSince
Director/Board Member - 21/07/2017
Director/Board Member 57 22/07/2016
Director/Board Member - -
Change 5-day change 1-year change 3-year change Capi.($)
-1.53%-1.64%-25.62%-8.15% 846.95Cr
+0.44%+1.52%-8.47%+25.71% 22TCr
-0.66%+3.49%+6.73%+35.08% 18TCr
+1.61%+3.79%-10.82%+39.76% 15TCr
+1.01%+1.50%+41.62%+29.39% 7.91TCr
-0.22%+2.43%-19.62%+17.51% 7.7TCr
+0.13%+2.37%+0.47%-7.02% 7.58TCr
-0.28%-0.74%+3.55%-4.79% 5.74TCr
+1.14%+0.45%+6.24%+72.37% 5.61TCr
+2.27%+3.75%+24.83%+57.71% 5.01TCr
Average +0.39%+1.78%+1.89%+25.76% 9.59TCr
Weighted average by Cap. +0.46%+2.33%+1.16%+29.01%

Financials

2026 *2027 *
Net sales 3.71TCr 397.34Cr 347.64Cr 320.63Cr 295.35Cr 557.36Cr 38TCr 569.25Cr 3.83TCr 1.51TCr 19TCr 1.49TCr 1.46TCr 65TCr 3.76TCr 402.75Cr 352.37Cr 324.99Cr 299.37Cr 564.94Cr 39TCr 577Cr 3.88TCr 1.53TCr 19TCr 1.51TCr 1.48TCr 65TCr
Net income 544.45Cr 58Cr 51Cr 47Cr 43Cr 82Cr 5.62TCr 84Cr 563.14Cr 221.44Cr 2.75TCr 219.27Cr 214.43Cr 9.48TCr 551.75Cr 59Cr 52Cr 48Cr 44Cr 83Cr 5.7TCr 85Cr 570.69Cr 224.41Cr 2.79TCr 222.21Cr 217.31Cr 9.61TCr
Net Debt 1.7TCr 181.98Cr 159.21Cr 146.84Cr 135.27Cr 255.26Cr 18TCr 260.71Cr 1.76TCr 690.16Cr 8.58TCr 683.39Cr 668.32Cr 30TCr 1.56TCr 167.08Cr 146.18Cr 134.82Cr 124.19Cr 234.37Cr 16TCr 239.37Cr 1.61TCr 633.67Cr 7.88TCr 627.45Cr 613.62Cr 27TCr
Logo Itissalat Al-Maghrib (IAM) S.A.
Maroc Telecom is Morocco's No. 1 telecommunications operator. Net sales (including intra-group) break down by activity as follows: - mobile telephony (72.4%): 19.2 million customers in Morocco at the end of 2025, distributed between customers with prepaid cards (16.5 million) and with post-paid subscriptions (2.8 million). At the end of 2025, the group owned 11,071 base stations; - fixed telephony and Internet (27.6%): fixed telephony services (1.6 million lines installed in Morocco as of the end of 2025), interconnection services, data transmission, and Internet access (1,419,000 subscribers). Products and services are marketed through a network of 377 owned branches, more than 70,000 group-approved points of sale (tobacconists, local shops, etc.) and independent distribution channels. 50.6% of net sales (including intra-group) are abroad.
Employees
8,270
Date Price Change Volume
17/26/17 MAD 90.00 -1.53% 1,39,823
16/26/16 MAD 91.40 -0.38% 14,488
15/26/15 MAD 91.75 +1.05% 60,179
14/26/14 MAD 90.80 0.00% 2,38,847
13/26/13 MAD 90.80 -0.77% 1,26,807
Trader
Investor
Global
Quality
ESG MSCI
B
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
90.00MAD
Average target price
107.67MAD
Spread / Average Target
+19.63%

Quarterly revenue - Rate of surprise