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Itissalat Al-Maghrib (IAM) S.A. (IAM.PA)
EUR8.70
-0.10 (-1.14%)
MA PAR Communication Services Telecommunications Services
Address
Avenue Annakhil, Hay Riad
Rabat, MA
Rabat, MA
CEO
Mohamed Benchaaboun
Website
iam.ma
IPO
2004-12-13
ISIN MA0000011488
Description
Itissalat Al-Maghrib (IAM) S.A., along with its affiliated entities, provides a comprehensive array of telecommunication solutions across Morocco and in international markets. Its service portfolio encompasses mobile communication, traditional fixed-line services, internet access, and fixed-line broadband. Beyond these services, the company also retails mobile handsets, broadband hardware, and a variety of connected devices and accompanying accessories. Established in 1998, the enterprise maintains its headquarters in Rabat, Morocco. As of October 28, 2021, Itissalat Al-Maghrib (IAM) S.A. functions as a subsidiary of Emirates Telecommunications Group Company PJSC.
Market Cap & Enterprise Value
Merger & Acquisition History
No mergers or acquisitions recorded for this company.
Technical Outlook
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Signal Summary
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| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
EUR8.70
-0.10 (-1.14%)
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Volume Profile
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Liquidity & share structure
Average Volume
363
Beta
0.32
Float Shares
219.24M
Free Float %
24.9%
Price Performance
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| +0.00% | +2.03% | -3.62% | -9.40% | -16.11% | -11.18% | -9.40% | +18.43% | -30.31% | -19.89% | +27.43% |
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From
To
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow
Revenue by geography
Revenue by segment
From
To
Revenue composition
From
To
By product
By geography
Financial Statements
Select metrics from the tables below to build your comparison.
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
Price Targets & DCF
Current price
8.70
DCF (Unlevered)
18.21
+109.3%
DCF (Levered)
34.31
+294.4%
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
Ratings Trend (MoM)
0% Bullish
| Rating | 2024-11 | Change |
|---|---|---|
| Strong Buy | 0 | 0 |
| Buy | 0 | 0 |
| Hold | 2 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
Quality scores
Altman Z-Score
2.44
Grey zone
Piotroski F-Score
5 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
-
Revenue growth Telecommunications Services: +7.0%-0.5% Q4'25: +0.9% (vs Q4'23)
-
EPS growth Telecommunications Services: +15.8%+285.9% ★ Q4'25: +17.6% (vs Q4'23)
-
FCF margin FCF growth · Telecommunications Services: +29.4%+17.5% ★ Q4'25: +13.1% (vs Q4'23)
-
EBIT margin Telecommunications Services: +14.7%+36.9% ★ Q4'25: +30.7% (vs Q4'23)
-
ROIC Telecommunications Services: +6.4%+20.3% ★ Q4'25: +34.9% (vs Q4'23)
-
Share dilution Telecommunications Services: +0.0%+0.0% Q4'25: +0.0% (vs Q4'23)
-
Debt / EBITDA Net debt/EBITDA · Telecommunications Services: 1.26×0.92× ★ Q4'25: 0.51× (vs Q4'23)
Valuation Multiples
From
To
Price Forecast (3Y)
From
To
Theoretical Return — If Invested Today
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
Consensus Estimates
| Metric |
Dec 2004 actual |
Dec 2005 actual |
Dec 2006 actual |
Dec 2007 actual |
Dec 2008 actual |
Dec 2009 actual |
Dec 2010 actual |
Dec 2011 actual |
Dec 2012 actual |
Dec 2013 actual |
Dec 2014 actual |
Dec 2015 actual |
Dec 2016 actual |
Dec 2017 actual |
Dec 2018 actual |
Dec 2019 actual |
Dec 2020 actual |
Dec 2021 actual |
Dec 2022 actual |
Dec 2023 actual |
Dec 2024 actual |
Dec 2025 actual |
Dec 2026 3 Rev. Ana. 2 EPS Ana. |
Dec 2027 3 Rev. Ana. 2 EPS Ana. |
Dec 2028 3 Rev. Ana. 2 EPS Ana. |
Dec 2029 2 Rev. Ana. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
17.41B
est: 18.19B (-4.3%)
|
20.54B
est: 21.80B (-5.8%)
|
22.62B
est: 23.05B (-1.9%)
|
27.53B
est: 27.58B (-0.2%)
|
29.52B
est: 30.13B (-2.0%)
|
30.34B
est: 30.56B (-0.7%)
|
31.66B
est: 32.22B (-1.8%)
|
30.84B
est: 31.58B (-2.4%)
|
30.26B
est: 30.62B (-1.2%)
|
29.05B
est: 29.49B (-1.5%)
|
29.76B
est: 29.34B (+1.4%)
|
35.04B
est: 34.26B (+2.3%)
|
36.57B
est: 35.29B (+3.6%)
|
36.21B
est: 34.54B (+4.9%)
|
37.46B
est: 36.89B (+1.5%)
|
36.52B
est: 36.80B (-0.8%)
|
36.77B
est: 36.85B (-0.2%)
|
35.79B
est: 35.58B (+0.6%)
|
36.79B
est: 35.25B (+4.4%)
|
36.79B
est: 391.87B (-90.6%)
|
36.70B
est: 36.68B (+0.1%)
|
36.52B
est: 36.45B (+0.2%)
|
36.90B
36.82B – 37.00B
+1.2% YoY
|
37.40B
37.25B – 37.50B
+1.4% YoY
|
37.93B
37.81B – 38.03B
+1.4% YoY
|
39.53B
39.40B – 39.63B
+4.2% YoY
|
| EBITDA |
10.66B
est: 7.90B (+35.0%)
|
11.46B
est: 9.28B (+23.5%)
|
13.54B
est: 11.98B (+13.1%)
|
16.40B
est: 15.87B (+3.3%)
|
18.37B
est: 16.93B (+8.5%)
|
18.28B
est: 17.71B (+3.2%)
|
18.73B
est: 18.39B (+1.8%)
|
16.97B
est: 17.43B (-2.6%)
|
15.95B
est: 15.27B (+4.5%)
|
16.09B
est: 14.13B (+13.9%)
|
15.96B
est: 14.51B (+10.0%)
|
16.99B
est: 16.89B (+0.6%)
|
16.86B
est: 15.87B (+6.2%)
|
16.89B
est: 15.23B (+10.9%)
|
18.46B
est: 15.25B (+21.0%)
|
19.00B
est: 16.85B (+12.8%)
|
13.27B
est: 16.85B (-21.3%)
|
18.92B
est: 17.03B (+11.1%)
|
16.09B
est: 17.28B (-6.9%)
|
17.83B
est: 234.93B (-92.4%)
|
13.17B
est: 22.00B (-40.1%)
|
21.16B
est: 21.85B (-3.2%)
|
22.12B
22.07B – 22.18B
+1.2% YoY
|
22.42B
22.33B – 22.48B
+1.4% YoY
|
22.74B
22.67B – 22.80B
+1.4% YoY
|
23.70B
23.62B – 23.76B
+4.2% YoY
|
| EBIT |
7.83B
est: 4.77B (+64.3%)
|
8.82B
est: 5.60B (+57.5%)
|
10.18B
est: 9.19B (+10.7%)
|
12.36B
est: 12.00B (+3.0%)
|
14.33B
est: 13.37B (+7.1%)
|
14.09B
est: 13.91B (+1.3%)
|
14.38B
est: 14.81B (-3.0%)
|
12.34B
est: 14.10B (-12.5%)
|
10.91B
est: 11.90B (-8.3%)
|
10.91B
est: 10.53B (+3.6%)
|
10.21B
est: 10.88B (-6.2%)
|
10.19B
est: 11.90B (-14.4%)
|
10.31B
est: 10.85B (-5.0%)
|
10.28B
est: 10.46B (-1.7%)
|
11.14B
est: 10.44B (+6.7%)
|
8.19B
est: 11.24B (-27.2%)
|
10.55B
est: 8.38B (+25.9%)
|
11.44B
est: 8.47B (+35.1%)
|
8.95B
est: 8.59B (+4.2%)
|
10.89B
est: 151.11B (-92.8%)
|
6.02B
est: 14.15B (-57.4%)
|
13.49B
est: 14.06B (-4.1%)
|
14.23B
14.20B – 14.27B
+1.2% YoY
|
14.42B
14.36B – 14.46B
+1.4% YoY
|
14.63B
14.58B – 14.67B
+1.4% YoY
|
15.24B
15.19B – 15.28B
+4.2% YoY
|
| Net Income |
5.17B
est: 60.36B (-91.4%)
|
5.81B
est: 35.14B (-83.5%)
|
6.74B
est: 6.14B (+9.7%)
|
8.03B
est: 8.06B (-0.4%)
|
9.52B
est: 8.80B (+8.1%)
|
9.72B
est: 9.59B (+1.4%)
|
9.81B
est: 9.94B (-1.3%)
|
8.12B
est: 9.42B (-13.8%)
|
6.71B
est: 7.84B (-14.4%)
|
5.54B
est: 6.46B (-14.2%)
|
5.85B
est: 5.51B (+6.1%)
|
5.60B
est: 6.81B (-17.8%)
|
5.60B
est: 5.89B (-5.0%)
|
5.71B
est: 5.62B (+1.6%)
|
6.01B
est: 5.80B (+3.7%)
|
2.73B
est: 6.12B (-55.5%)
|
5.42B
est: 2.78B (+95.2%)
|
6.01B
est: 2.81B (+114.0%)
|
2.75B
est: 5.22B (-47.3%)
|
5.28B
est: 13.38B (-60.5%)
|
1.80B
est: 4.61B (-60.9%)
|
6.94B
est: 6.19B (+12.0%)
|
5.36B
5.29B – 5.43B
-13.5% YoY
|
5.47B
5.36B – 5.58B
+2.1% YoY
|
5.60B
5.41B – 5.78B
+2.3% YoY
|
—
— – —
-100.0% YoY
|
| SGA |
—
est: 583.83M (-100.0%)
|
—
est: 685.98M (-100.0%)
|
—
est: 2.89B (-100.0%)
|
—
est: 3.39B (-100.0%)
|
—
est: 3.82B (-100.0%)
|
877.00M
est: 3.48B (-74.8%)
|
928.00M
est: 3.67B (-74.7%)
|
—
est: 3.63B (-100.0%)
|
1.77B
est: 3.95B (-55.2%)
|
1.86B
est: 4.12B (-54.9%)
|
1.91B
est: 6.07B (-68.6%)
|
2.44B
est: 7.54B (-67.6%)
|
2.55B
est: 8.73B (-70.7%)
|
2.67B
est: 7.09B (-62.4%)
|
2.77B
est: 6.81B (-59.3%)
|
936.00M
est: 6.54B (-85.7%)
|
786.00M
est: 6.43B (-87.8%)
|
846.00M
est: 6.50B (-87.0%)
|
2.73B
est: 6.60B (-58.6%)
|
492.00M
est: 18.90B (-97.4%)
|
1.02B
est: 1.77B (-42.3%)
|
3.73B
est: 1.76B (+112.0%)
|
1.78B
1.78B – 1.78B
+1.2% YoY
|
1.80B
1.80B – 1.81B
+1.4% YoY
|
1.83B
1.82B – 1.83B
+1.4% YoY
|
1.91B
1.90B – 1.91B
+4.2% YoY
|
| EPS |
5.90
est: 68.67 (-91.4%)
|
6.60
est: 75.06 (-91.2%)
|
7.70
est: 84.02 (-90.8%)
|
9.10
est: 101.29 (-91.0%)
|
10.80
est: 118.96 (-90.9%)
|
10.70
est: 120.92 (-91.2%)
|
10.80
est: 119.73 (-91.0%)
|
9.20
est: 104.60 (-91.2%)
|
7.60
est: 91.44 (-91.7%)
|
6.30
est: 90.26 (-93.0%)
|
6.70
est: 75.15 (-91.1%)
|
6.36
est: 6.45 (-1.4%)
|
6.37
est: 6.41 (-0.6%)
|
6.49
est: 6.41 (+1.3%)
|
6.84
est: 6.97 (-1.9%)
|
3.10
est: 7.04 (-55.9%)
|
6.17
est: 6.74 (-8.4%)
|
6.83
est: 6.47 (+5.6%)
|
3.13
est: 5.22 (-40.1%)
|
6.01
est: 15.22 (-60.5%)
|
2.05
est: 5.25 (-60.9%)
|
7.91
est: 7.05 (+12.3%)
|
6.10
6.01 – 6.18
-13.5% YoY
|
6.22
6.10 – 6.35
+2.1% YoY
|
6.37
6.16 – 6.58
+2.3% YoY
|
—
— – —
-100.0% YoY
|
Historical Ratings (3M)
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-29 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-28 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-27 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-26 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-25 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-22 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-21 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-20 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-19 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-18 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-15 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-14 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-13 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-12 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-11 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-08 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-07 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-06 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-05 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-05-04 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-04-30 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-04-29 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-04-28 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-04-27 | A- | 4/5 | 4/5 | 5/5 | 5/5 | 2/5 | 3/5 | 1/5 |
| 2026-04-24 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 1/5 | 3/5 | 1/5 |
| 2026-04-23 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 1/5 | 3/5 | 1/5 |
| 2026-04-22 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 1/5 | 3/5 | 1/5 |
| 2026-04-21 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 1/5 | 3/5 | 1/5 |
| 2026-04-20 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 1/5 | 3/5 | 1/5 |
| 2026-04-17 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 1/5 | 3/5 | 1/5 |
| 2026-04-16 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 1/5 | 3/5 | 1/5 |
Owner Earnings
Owner's Earnings (history)
From
To
Owner alignment
Owner's Earnings TTM
9.21B
OE per share TTM
10.48
Owner's Yield
115.62%
Maintenance CapEx ratio
188.77%
Maint CapEx / Avg PPE
86.9%
Ownership Overview
Ownership breakdown
Ownership breakdown not available.
At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional ownership trend
Institutional history not available.
Top institutional holders
Top holders not available.
ETF Ownership
Top ETFs holding this stock
Held by 1 ETFs in our universe
| # | ETF | Weight | Est. AUM exposure | TER |
|---|---|---|---|---|
| 1 | VanEck Africa Index ETF AFK | 1.72% | 1.71M | 0.76% |
Insider Activity
Insider Activity — Latest Quarter
No insider activity available.
Insider buys vs sells (history)
Insider history not available.
Recent insider transactions
No recent insider transactions.
Executive team
Top executives
EBIT / Employee
1.54M
Shares Outstanding
878.96M
Executive compensation
Executive compensation (annual)
Executive compensation not available.
CEO compensation breakdown
No CEO compensation history available.
Proxy statements
Proxy statements (DEF 14A)
No proxy statements available for this company yet.
Recent SEC filings
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Abdelkader Maamar | Secretary General & MD of Services & Member of Management Board | — | male |
| Brahim Boudaoud | Executive Director of International Development & Member of Management Board | — | male |
| Francois Vitte | Chief Financial Officer, MD of Administration & Finance and Member of Management Board | — | male |
| Hassan Rachad | Technical Executive Director & Member of Management Board | — | male |
| Khaled Khouly | Executive Director of Operations Morocco & Members of the Management Board | — | male |
| Mohamed Benchaaboun | CEO & Chairman of Management Board | — | — |
ESG Score History
No data available for this company.
Senate Trading Activity
No Senate trading activity found for this company.
House Trading Activity
No House trading activity found for this company.
Market share among peers
Peer comparison — filtered group (TTM)
Your opinion
Share your view on this stock and instantly see how the community has voted over the last 6 months.
Community Opinion for IAM.PA
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
