Itissalat Al-Maghrib (IAM) S.A. (CBSE:IAM)
Morocco flag Morocco · Delayed Price · Currency is MAD
99.85
-0.65 (-0.65%)
At close: Aug 10, 2026

CBSE:IAM Financials Overview

Millions MAD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Revenue
37,64936,68136,69936,78635,73135,790
Revenue Growth
2.64%-0.05%-0.24%2.95%-0.17%-2.66%
Gross Profit
28,56327,70027,54227,41327,69826,635
Operating Income
11,40613,5476,06211,6068,98911,586
Net Income
5,3336,9681,8015,2832,7506,008
Earnings Per Share
6.077.932.056.013.136.83
EPS Growth
-23.46%286.90%-65.91%92.11%-54.20%10.72%

Revenue by Segment

Fiscal YearFY 2024FY 2023
Period EndingDec '24 Dec '23
Mobile
28,07628,601
Fixed-line
9,9159,688
Elimination and Other Income
-1,764-1,775
Total
36,22736,514

Cash & Debt

Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash & Investments
1,9052,1642,0681,1301,8722,024
Total Debt
20,12819,60324,44217,40818,24516,444
Net Cash (Debt)
-18,223-17,439-22,374-16,278-16,373-14,420
Net Cash Growth
------
Net Cash Per Share
-20.73-19.84-25.45-18.52-18.62-16.40

Cash Flow & CapEx

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Operating Cash Flow
13,95418,49911,59813,04512,00213,554
Capital Expenditures
-10,255-9,404-11,663-7,969-7,073-5,289
Free Cash Flow
3,6999,095-655,0764,9298,265
Free Cash Flow Growth
-59.33%--2.98%-40.36%18.97%

Margins

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Gross Margin
75.87%75.52%75.05%74.52%77.52%74.42%
Operating Margin
30.30%36.93%16.52%31.55%25.16%32.37%
Pretax Margin
27.83%34.17%13.49%27.18%23.07%29.64%
Profit Margin
14.16%19.00%4.91%14.36%7.70%16.79%
FCF Margin
9.83%24.80%-0.18%13.80%13.79%23.09%

Dividends

Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingAug '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Dividend Per Share
4.0004.0001.4304.2002.1904.780
Dividend Per Share Growth
179.72%179.72%-65.95%91.78%-54.18%19.20%
Dividend Yield
4.01%3.67%1.76%4.45%2.49%3.86%

Valuation

Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingAug '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
PE Ratio
16.2413.7540.0316.6330.3720.40
Forward PE
15.7916.7611.7015.2614.1720.51
P/FCF Ratio
23.4110.54-17.3116.9414.83
PS Ratio
2.302.611.962.392.343.43