Itissalat Al-Maghrib (IAM) S.A. (CBSE:IAM)
Morocco flag Morocco · Delayed Price · Currency is MAD
83.00
-2.00 (-2.35%)
At close: Oct 30, 2026

CBSE:IAM Financials Overview

Millions MAD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year
TTMFY 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 Year
FY 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 Year
CurrentFY 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 Year
TTMFY 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 Year
TTMFY 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 Year
CurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingNov '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
4.82%3.67%1.74%4.20%2.31%3.43%

Valuation

Fiscal Year
CurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingNov '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
PE Ratio
13.6813.7540.0316.6330.3720.40
Forward PE
13.4516.7611.7015.2614.1720.51
P/FCF Ratio
19.7310.54-17.3116.9414.83
PS Ratio
1.942.611.962.392.343.43