Wafa Assurance Ratios and Metrics

Market cap in millions MAD. Fiscal year is January - December.

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 24, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	20,090	16,814	15,610	14,000	13,160	16,975
Market Cap Growth	17.38%	7.71%	11.50%	6.38%	-22.47%	25.32%
Enterprise Value	19,341	16,057	15,489	13,718	13,169	16,680
PE Ratio	19.59	16.39	16.91	20.88	16.96	40.03
PS Ratio	2.08	1.74	1.81	0.98	1.00	1.50
PB Ratio	1.32	1.10	1.22	1.47	1.58	1.80
P/FCF Ratio	4.37	3.66	5.32	3.69	5.25	5.16
P/OCF Ratio	3.76	3.14	5.02	3.46	4.57	4.84
EV/Sales Ratio	2.00	1.66	1.80	0.96	1.00	1.47
EV/EBITDA Ratio	12.78	10.61	10.99	13.64	11.06	29.02
EV/EBIT Ratio	14.64	12.15	11.78	15.21	12.06	34.41
EV/FCF Ratio	4.21	3.50	5.28	3.61	5.25	5.07
Debt / Equity Ratio	0.01	0.01	0.01	0.06	0.02	0.07
Debt / EBITDA Ratio	0.13	0.13	0.08	0.52	0.16	1.06
Debt / FCF Ratio	0.04	0.04	0.04	0.14	0.08	0.19
Net Debt / Equity Ratio	-0.07	-0.07	-0.07	-0.05	-0.09	0.01
Net Debt / EBITDA Ratio	-0.67	-0.67	-0.66	-0.49	-0.65	0.14
Net Debt / FCF Ratio	-0.22	-0.22	-0.32	-0.13	-0.31	0.02
Quick Ratio	3.40	3.40	4.71	0.49	0.48	0.38
Current Ratio	4.17	4.17	6.67	0.66	0.64	0.54
Asset Turnover	0.14	0.14	0.13	0.23	0.22	0.20
Return on Equity (ROE)	7.86%	7.86%	8.93%	8.15%	9.32%	5.12%
Return on Assets (ROA)	1.17%	1.17%	1.27%	0.91%	1.15%	0.53%
Return on Invested Capital (ROIC)	7.13%	7.77%	8.68%	7.84%	8.92%	4.90%
Earnings Yield	5.11%	6.10%	5.91%	4.79%	5.90%	2.50%
FCF Yield	22.87%	27.32%	18.79%	27.13%	19.05%	19.38%
Dividend Yield	2.61%	3.12%	3.23%	3.73%	3.80%	2.80%
Payout Ratio	47.76%	47.77%	53.08%	67.93%	54.12%	82.54%
Buyback Yield / Dilution	-0.14%	-0.14%	-0.13%	0.10%	0.25%	0.23%
Total Shareholder Return	2.58%	2.98%	3.09%	3.83%	4.05%	3.03%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.