Attijariwafa Bank SA

Attijariwafa Bank SA maintains a capital structure characterized by total assets of 795.46 billion MAD and total equity of 69.43 billion MAD. The bank carries long-term debt of 62.69 billion MAD, resulting in a debt-to-equity ratio of 0.9. Liquidity risk is assessed as medium, with key flags indicating that net cash is negative after subtracting total debt. Operating cash flow stands at 6.17 billion MAD, while free cash flow is reported at 10.34 billion MAD, supported by capital expenditures of -3.54 billion MAD.

Profitability metrics show a return on equity of 15.33% and a return on assets of 1.34%. The bank generated net income of 10.64 billion MAD on revenue of 21.11 billion MAD. Without specific cohort median data provided in the input, direct comparative analysis against sector peers is omitted, but the absolute returns indicate a profitable operation within the banking industry.

Segment and geographic revenue concentration data is not present in the available input, preventing a detailed analysis of revenue mix by segment or region. The company's activity is broadly defined as Commercial Banks within the Banks industry.

Historical period data for revenue and net income trends over the last five years or eight quarters is absent from the input. Consequently, the growth trajectory cannot be quantified using historical financial snapshots. The current financial snapshot provides a single-period view of the bank's performance.

Risk assessment highlights medium liquidity risk and unknown dilution risk due to missing basic and diluted share counts. A key flag notes that net cash is negative after subtracting total debt, which may impact financial flexibility. Dilution risk could not be assessed due to the absence of share count data.

Recent investor relations observations indicate a mean analyst price target of 832.50 MAD, with a high of 842.00 MAD and a low of 823.00 MAD. The mean recommendation is 2.67, based on one strong-buy rating and one hold rating, with no buy ratings recorded. Competitor context lists JPMorgan Chase, Bank of America, and Citigroup, but no specific comparative data is provided for these entities.

Net income surged 12.0% year-over-year to MAD 10.6 billion, demonstrating strong profitability growth momentum.

Total assets expanded 9.5% year-over-year to MAD 795.5 billion, reflecting robust balance sheet growth and scale.

Revenue grew 7.1% year-over-year to MAD 21.1 billion, supporting consistent top-line expansion trends.

Free cash flow declined 4.4% year-over-year to MAD 10.3 billion, signaling potential liquidity generation headwinds.

Cash conversion ratio of 0.58 falls below the cohort median of 1.15, indicating weaker cash generation efficiency.

Long-term debt increased to MAD 59.7 billion in FY2025, suggesting rising leverage obligations despite asset growth.

The company faces a medium-level liquidity risk flag, which could constrain operational flexibility during market stress.

Revenue MAD 21.11B, +7,0% YoY; Net income +12,0% YoY.

• ▍Revenue MAD 21.11B, +7,0% YoY
• ▍Net income +12,0% YoY
• ▍Free cash flow −4,4% YoY
• ▍Net margin 50.4%

Revenue MAD 19.72B, +7,0% YoY; Net income +26,6% YoY.

• ▍Revenue MAD 19.72B, +7,0% YoY
• ▍Net income +26,6% YoY
• ▍Free cash flow +23,1% YoY
• ▍Net margin 48.2%

Revenue MAD 18.43B, +13,0% YoY; Net income +23,0% YoY.

• ▍Revenue MAD 18.43B, +13,0% YoY
• ▍Net income +23,0% YoY
• ▍Free cash flow +8,4% YoY
• ▍Net margin 40.7%

Revenue MAD 16.32B, +0,9% YoY; Net income +18,6% YoY.

• ▍Revenue MAD 16.32B, +0,9% YoY
• ▍Net income +18,6% YoY
• ▍Free cash flow +26,9% YoY
• ▍Net margin 37.4%

Revenue MAD 16.17B; Net margin 31.8%.

• ▍Revenue MAD 16.17B
• ▍Net margin 31.8%