Fact based stock research
Attijariwafa bank S.A (CBSE:ATW)

MA0000012445

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Attijariwafa bank S.A stock research in summary

attijariwafabank.com

ANALYSIS: With an Obermatt Combined Rank of 3 (worse than 97% compared with investment alternatives), Attijariwafa bank S.A (Diversified Banks, Morocco) shares have lower financial characteristics compared with similar stocks. Shares of Attijariwafa bank S.A are low in value (priced high) with a consolidated Value Rank of 5 (worse than 95% of alternatives), and are riskily financed (Safety Rank of 11, which means above-average debt burdens) but show above-average growth (Growth Rank of 71). ...read more

RECOMMENDATION: A Combined Rank of 3, is a sell recommendation based on Attijariwafa bank S.A's financial characteristics. As the company Attijariwafa bank S.A shows low value with an Obermatt Value Rank of 5 (95% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 71% of comparable companies (Obermatt Growth Rank is 71). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 11 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Attijariwafa bank S.A, even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	5
Growth Rank	71
Safety Rank	11
Combined Rank	3

Country	Morocco
Industry	Diversified Banks
Index
Size class	Large

19-Dec-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Attijariwafa bank S.A

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	4	7	15	5
GROWTH
GROWTH	22	45	37	71
SAFETY
SAFETY	61	67	47	11
SENTIMENT
SENTIMENT	n/a	61	100	^new
360° VIEW
360° VIEW	n/a	29	47	^new

Most recent update of the stock research: 19-Dec-2024. Financial reporting date used for calculating ranks: 30-Jun-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Attijariwafa bank S.A is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	4	7	15	5
GROWTH
GROWTH	22	45	37	71
SAFETY
SAFETY	61	67	47	11
COMBINED
COMBINED	27	17	5	3

Last update of combined financial performance: 19-Dec-2024. Stock analysis on combined financial performance: The higher the rank of Attijariwafa bank S.A the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 5 (worse than 95% compared with alternatives), Attijariwafa bank S.A shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with all four indicators below average for Attijariwafa bank S.A. Price-to-Sales is 21 which means that the stock price compared with what market professionals expect for future profits is higher than 79% of comparable companies, indicating a low value concerning Attijariwafa bank S.A's sales levels. Price-to-Book Capital (also referred to as market-to-book ratio) also has a low Price-to-Book Rank of 9, which means that both reliable company size indicators, sales, and invested capital cannot explain the high stock price of Attijariwafa bank S.A. In addition, the two profit-related value indicators, Price-to-Profit (also referred to as price-earnings, P/E) with a low rank of 11 and Dividend Yield, which is lower than 68% of comparable companies, also make the stock more expensive compared with investment alternatives. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 5, is a sell recommendation based on Attijariwafa bank S.A's stock price compared with the company's operational size and dividend yields. How can market participants pay such a high price for Attijariwafa bank S.A? One reason may be that the company is simply too popular. If enough people want a particular stock, its price can exceed reasonable levels. This is often the case for companies offering new and exciting products and everybody wants a piece of the action. Should you pay a lot for a hot stock such as Attijariwafa bank S.A? It's risky, and even if the stock price continues to grow because of popular demand, it may return to more typical lower levels later. And that return can be sudden and quick, making it impossible for retail investors to exit on time. Sometimes, high prices are deserved. This is the case when it is justified to believe that the company will dominate a market with high profit margins. It has happened in the past for many technology companies and indeed for commercially successful pharmaceutical discoveries. Sometimes they last, sometimes, they get eaten alive. Attijariwafa bank S.A may be such a type of stock. That would mean, retail investors should be careful, only considering investing a small part of their wealth in this exciting category and always being ready to lose more than half, if not all of the investment. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	11	19	30	21
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	2	11	17	11
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	12	13	22	9
DIVIDEND YIELD
DIVIDEND YIELD	18	58	43	32
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	4	7	15	5

Last update of Value Rank: 19-Dec-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Attijariwafa bank S.A; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 71 (better than 71% compared with alternatives), Attijariwafa bank S.A shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Attijariwafa bank S.A. Profit Growth has a rank of 83 which means that currently professionals expect the company to grow its profits more than 83% of its competitors. The same is valid for capital growth and stock returns. Capital Growth has a rank of 53, and Stock Returns has a rank of 63 which means that the stock returns have recently been above 63% of alternative investments. Only revenue growth is low with a Sales Growth has a rank of 42 (58% of its competitors are better). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 71, is a buy recommendation for growth and momentum investors. The many positive growth indicators indicate a positive growth momentum with only low revenue growth. That can also be attributed to divestments or the sale of unprofitable businesses. If that is the reason, overall growth is well on track to making this stock attractive for growth investors. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	16	14	30	42
PROFIT GROWTH
PROFIT GROWTH	n/a	79	48	83
CAPITAL GROWTH
CAPITAL GROWTH	n/a	41	23	53
STOCK RETURNS
STOCK RETURNS	48	59	77	63
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	22	45	37	71

Last update of Growth Rank: 19-Dec-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Attijariwafa bank S.A.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 11 (better than 11% compared with alternatives), the company Attijariwafa bank S.A has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Attijariwafa bank S.A is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Attijariwafa bank S.A and the other two below average. Leverage is at a rank of 66 meaning the company has a below-average debt-to-equity ratio. It has less debt than 66% of its competitors.Refinancing is at a rank of 20, which means that the portion of the debt about to be refinanced is above-average. It has more debt in the refinancing stage than 80% of its competitors. Liquidity is at a rank of 16, meaning that the company generates less profit to service its debt than 84% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 11 (worse than 89% compared with alternatives), Attijariwafa bank S.A has a financing structure that is significantly riskier than that of its competitors. This is an indication that the company is on the riskier side when it comes to debt service. There is only below-market average liquidity, and a short-term refinancing issue might be around the corner. But in the long-term, the debt levels of Attijariwafa bank S.A are on the safer side. Investors may have a short-term debt challenge and liquidity issues with Attijariwafa bank S.A and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	58	48	76	66
REFINANCING
REFINANCING	24	45	63	20
LIQUIDITY
LIQUIDITY	71	78	10	16
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	61	67	47	11

Last update of Safety Rank: 19-Dec-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Attijariwafa bank S.A and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	18	62	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	89	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	51	73	^new
MARKET PULSE
MARKET PULSE	n/a	100	100	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	61	100	^new

Last update of Sentiment Rank: 19-Dec-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Attijariwafa bank S.A.
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