Itissalat Al-Maghrib (IAM) S.A (MSPA) - Net Assets
Based on the latest financial reports, Itissalat Al-Maghrib (IAM) S.A (MSPA) has net assets worth €18.70 Billion EUR (≈ $21.86 Billion USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€70.37 Billion ≈ $82.27 Billion USD) and total liabilities (€51.67 Billion ≈ $60.41 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Itissalat Al-Maghrib (IAM) S.A liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €18.70 Billion |
| % of Total Assets | 26.58% |
| Annual Growth Rate | -0.58% |
| 5-Year Change | 12.06% |
| 10-Year Change | -5.09% |
| Growth Volatility | 9.21 |
Itissalat Al-Maghrib (IAM) S.A - Net Assets Trend (2013–2024)
This chart illustrates how Itissalat Al-Maghrib (IAM) S.A's net assets have evolved over time, based on quarterly financial data. Also explore Itissalat Al-Maghrib (IAM) S.A balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Itissalat Al-Maghrib (IAM) S.A (2013–2024)
The table below shows the annual net assets of Itissalat Al-Maghrib (IAM) S.A from 2013 to 2024. For live valuation and market cap data, see MSPA company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €18.70 Billion ≈ $21.86 Billion |
-10.96% |
| 2023-12-31 | €21.00 Billion ≈ $24.56 Billion |
+16.68% |
| 2022-12-31 | €18.00 Billion ≈ $21.05 Billion |
-4.25% |
| 2021-12-31 | €18.80 Billion ≈ $21.98 Billion |
+12.66% |
| 2020-12-31 | €16.69 Billion ≈ $19.51 Billion |
+4.29% |
| 2019-12-31 | €16.00 Billion ≈ $18.71 Billion |
-17.89% |
| 2018-12-31 | €19.49 Billion ≈ $22.79 Billion |
-1.32% |
| 2017-12-31 | €19.75 Billion ≈ $23.09 Billion |
+2.35% |
| 2016-12-31 | €19.30 Billion ≈ $22.56 Billion |
-2.06% |
| 2015-12-31 | €19.70 Billion ≈ $23.04 Billion |
-2.27% |
| 2014-12-31 | €20.16 Billion ≈ $23.57 Billion |
+1.15% |
| 2013-12-31 | €19.93 Billion ≈ $23.30 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Itissalat Al-Maghrib (IAM) S.A's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 5.6% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €9.63 Billion | 64.62% |
| Other Components | €5.28 Billion | 35.38% |
| Total Equity | €14.91 Billion | 100.00% |
Itissalat Al-Maghrib (IAM) S.A Competitors by Market Cap
The table below lists competitors of Itissalat Al-Maghrib (IAM) S.A ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Petronas Gas Bhd
KLSE:6033
|
$8.85 Billion |
|
Itissalat Al-Maghrib
PA:IAM
|
$8.85 Billion |
|
Baxter International Inc
NYSE:BAX
|
$8.85 Billion |
|
Sofina Société Anonyme
BR:SOF
|
$8.86 Billion |
|
Henan Shijia Photons Technology Co Ltd
SHG:688313
|
$8.85 Billion |
|
AGCO Corporation
NYSE:AGCO
|
$8.84 Billion |
|
Sartorius Aktiengesellschaft
XETRA:SRT3
|
$8.84 Billion |
|
Fortune Electric Co Ltd
TW:1519
|
$8.84 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Itissalat Al-Maghrib (IAM) S.A's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 17,126,000,000 to 14,908,000,000, a change of -2,218,000,000 (-13.0%).
- Net income of 1,801,000,000 contributed positively to equity growth.
- Dividend payments of 3,691,000,000 reduced retained earnings.
- Other factors decreased equity by 328,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €1.80 Billion | +12.08% |
| Dividends Paid | €3.69 Billion | -24.76% |
| Other Changes | €-328.00 Million | -2.2% |
| Total Change | €- | -12.95% |
Book Value vs Market Value Analysis
This analysis compares Itissalat Al-Maghrib (IAM) S.A's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.53x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €18.02 | €9.00 | x |
| 2018-12-31 | €17.83 | €9.00 | x |
| 2019-12-31 | €13.73 | €9.00 | x |
| 2020-12-31 | €14.47 | €9.00 | x |
| 2021-12-31 | €16.97 | €9.00 | x |
| 2022-12-31 | €15.81 | €9.00 | x |
| 2023-12-31 | €19.48 | €9.00 | x |
| 2024-12-31 | €16.96 | €9.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Itissalat Al-Maghrib (IAM) S.A utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.08%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.76%
- • Asset Turnover: 0.54x
- • Equity Multiplier: 4.72x
- Recent ROE (12.08%) is below the historical average (32.35%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 36.14% | 19.40% | 0.61x | 3.08x | €4.01 Billion |
| 2014 | 36.83% | 20.07% | 0.64x | 2.88x | €4.26 Billion |
| 2015 | 36.46% | 16.39% | 0.56x | 3.95x | €4.06 Billion |
| 2016 | 36.17% | 15.88% | 0.58x | 3.96x | €4.05 Billion |
| 2017 | 36.03% | 16.32% | 0.56x | 3.96x | €4.12 Billion |
| 2018 | 38.36% | 16.68% | 0.58x | 3.97x | €4.44 Billion |
| 2019 | 22.59% | 7.47% | 0.56x | 5.37x | €1.52 Billion |
| 2020 | 42.63% | 14.75% | 0.58x | 4.99x | €4.15 Billion |
| 2021 | 40.28% | 16.79% | 0.58x | 4.14x | €4.52 Billion |
| 2022 | 19.79% | 7.48% | 0.56x | 4.72x | €1.36 Billion |
| 2023 | 30.85% | 13.93% | 0.58x | 3.83x | €3.57 Billion |
| 2024 | 12.08% | 4.76% | 0.54x | 4.72x | €310.20 Million |
Industry Comparison
This section compares Itissalat Al-Maghrib (IAM) S.A's net assets metrics with peer companies in the Telecom Services industry.
Industry Context
- Industry: Telecom Services
- Average net assets among peers: $41,929,331,538
- Average return on equity (ROE) among peers: 16.59%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Itissalat Al-Maghrib (IAM) S.A (MSPA) | €18.70 Billion | 36.14% | 2.76x | $8.85 Billion |
| LIBERTY LAT.AMER.A DL-01 (1LL) | $1.63 Billion | -42.40% | 6.87x | $300.16 Million |
| 1&1 AG (1U1) | $353.02 Million | 13.06% | 0.95x | $4.35 Billion |
| CHINA TOWER UNSP.ADR/100 (2Y10) | $193.59 Billion | 4.54% | 0.58x | $5.02 Billion |
| TELSTRA GROUP LTD SP.ADR (5KB) | $16.84 Billion | 10.03% | 1.47x | $37.53 Billion |
| VODACOM GROUP LTD. SP.ADR (5VD0) | $103.65 Billion | 16.01% | 1.41x | $15.26 Billion |
| EuroTeleSites AG (7YF) | $234.07 Million | 0.00% | 7.39x | $735.93 Million |
| AIRTEL AFRICA UNSP.ADR/10 (9AA0) | $2.77 Billion | 7.93% | 3.33x | $16.88 Billion |
| TRANSTEMA GROUP AB O.N. (9G8) | $558.70 Million | 23.64% | 2.07x | $12.20 Million |
| Advanced Info Service Public Company Limited (AISF) | $81.82 Billion | 32.90% | 3.35x | $97.12K |
| Verizon Communications Inc. (BAC) | $17.84 Billion | 100.21% | 12.69x | $174.74 Billion |
About Itissalat Al-Maghrib (IAM) S.A
Itissalat Al-Maghrib (IAM) S.A. provides various telecommunication solutions in Morocco and internationally. The company offers mobile packages; fixed telecom; internet services, such as optical fiber, mobile internet 4G+, ADSL, Vsat, internet leased line, web hosting, and 4G+ internet box; network solutions, including VPN IP, ethernet, leased connections; cloud and data center hosting services, … Read more