Itissalat Al-Maghrib (IAM) - Net Assets

Latest as of June 2025: €18.70 Billion EUR ≈ $21.86 Billion USD

Based on the latest financial reports, Itissalat Al-Maghrib (IAM) 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 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	0.14%
5-Year Change	12.06%
10-Year Change	-5.09%
Growth Volatility	9.12

Itissalat Al-Maghrib - Net Assets Trend (2004–2024)

This chart illustrates how Itissalat Al-Maghrib's net assets have evolved over time, based on quarterly financial data. Also explore IAM total asset value for the complete picture of this company's asset base.

Annual Net Assets for Itissalat Al-Maghrib (2004–2024)

The table below shows the annual net assets of Itissalat Al-Maghrib from 2004 to 2024. For live valuation and market cap data, see Itissalat Al-Maghrib market capitalisation.

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	-3.67%
2012-12-31	€20.69 Billion ≈ $24.19 Billion	-6.30%
2011-12-31	€22.09 Billion ≈ $25.82 Billion	-6.04%
2010-12-31	€23.50 Billion ≈ $27.48 Billion	+2.49%
2009-12-31	€22.93 Billion ≈ $26.81 Billion	+12.66%
2008-12-31	€20.36 Billion ≈ $23.80 Billion	+9.24%
2007-12-31	€18.63 Billion ≈ $21.79 Billion	+10.57%
2006-12-31	€16.85 Billion ≈ $19.70 Billion	-14.56%
2005-12-31	€19.72 Billion ≈ $23.06 Billion	+8.37%
2004-12-31	€18.20 Billion ≈ $21.28 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Itissalat Al-Maghrib'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 grown by 97.9% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	€10.23 Billion	68.65%
Common Stock	€5.28 Billion	35.38%
Other Comprehensive Income	€-602.00 Million	-4.04%
Total Equity	€14.91 Billion	100.00%

Itissalat Al-Maghrib Competitors by Market Cap

The table below lists competitors of Itissalat Al-Maghrib ranked by their market capitalization.

Company	Market Cap
Baxter International Inc NYSE:BAX	$8.85 Billion
Sofina Société Anonyme BR:SOF	$8.86 Billion
Jazz Pharmaceuticals plc F:J7Z	$8.86 Billion
Acuity Brands Inc NYSE:AYI	$8.87 Billion
Petronas Gas Bhd KLSE:6033	$8.85 Billion
Itissalat Al-Maghrib (IAM) S.A F:MSPA	$8.85 Billion
Henan Shijia Photons Technology Co Ltd SHG:688313	$8.85 Billion
AGCO Corporation NYSE:AGCO	$8.84 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Itissalat Al-Maghrib'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 comprehensive income decreased equity by 289,000,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	€1.80 Billion	+12.08%
Dividends Paid	€3.69 Billion	-24.76%
Other Comprehensive Income	€-289.00 Million	-1.94%
Other Changes	€-39.00 Million	-0.26%
Total Change	€-	-12.95%

Book Value vs Market Value Analysis

This analysis compares Itissalat Al-Maghrib'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: 0.55x
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
2004-12-31	€20.22	€9.40	x
2005-12-31	€21.83	€9.40	x
2006-12-31	€18.50	€9.40	x
2007-12-31	€19.77	€9.40	x
2008-12-31	€21.28	€9.40	x
2009-12-31	€21.12	€9.40	x
2010-12-31	€21.67	€9.40	x
2011-12-31	€20.23	€9.40	x
2012-12-31	€18.53	€9.40	x
2013-12-31	€17.44	€9.40	x
2014-12-31	€18.07	€9.40	x
2015-12-31	€17.45	€9.40	x
2016-12-31	€17.60	€9.40	x
2017-12-31	€18.01	€9.40	x
2018-12-31	€17.82	€9.40	x
2019-12-31	€13.73	€9.40	x
2020-12-31	€14.47	€9.40	x
2021-12-31	€16.97	€9.40	x
2022-12-31	€15.81	€9.40	x
2023-12-31	€19.48	€9.40	x
2024-12-31	€16.96	€9.40	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Itissalat Al-Maghrib 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: 4.91%
• Asset Turnover: 0.52x
• Equity Multiplier: 4.72x
Recent ROE (12.08%) is below the historical average (36.99%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2004	29.09%	29.70%	0.63x	1.56x	€3.39 Billion
2005	30.26%	28.28%	0.69x	1.56x	€3.89 Billion
2006	41.44%	29.80%	0.80x	1.74x	€5.11 Billion
2007	46.22%	29.18%	0.73x	2.17x	€6.29 Billion
2008	50.88%	32.25%	0.77x	2.06x	€7.65 Billion
2009	52.37%	32.04%	0.66x	2.47x	€7.87 Billion
2010	51.49%	30.99%	0.67x	2.48x	€7.90 Billion
2011	45.68%	26.34%	0.63x	2.74x	€6.34 Billion
2012	41.15%	22.16%	0.63x	2.94x	€5.08 Billion
2013	36.14%	19.07%	0.62x	3.08x	€4.01 Billion
2014	36.83%	19.66%	0.65x	2.88x	€4.26 Billion
2015	36.46%	15.97%	0.58x	3.94x	€4.06 Billion
2016	36.17%	15.31%	0.60x	3.96x	€4.05 Billion
2017	36.03%	15.76%	0.58x	3.96x	€4.12 Billion
2018	38.36%	16.05%	0.60x	3.97x	€4.44 Billion
2019	22.59%	7.47%	0.56x	5.37x	€1.52 Billion
2020	42.63%	14.75%	0.57x	5.10x	€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%	14.36%	0.56x	3.83x	€3.57 Billion
2024	12.08%	4.91%	0.52x	4.72x	€310.20 Million

Industry Comparison

This section compares Itissalat Al-Maghrib's net assets metrics with peer companies in the Telecom Services industry.

Industry Context

Industry: Telecom Services
Average net assets among peers: $7,408,716,139
Average return on equity (ROE) among peers: -12.97%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Itissalat Al-Maghrib (IAM)	€18.70 Billion	29.09%	2.76x	$8.85 Billion
Bd Multimedia (ALBDM)	$1.57 Million	4.45%	4.06x	$12.97 Million
Airtime Partecipazioni SpA (ALMEX)	$40.71 Million	-49.15%	2.87x	$47.25 Million
Weaccess Group SA (MLWEA)	$578.56K	-20.33%	1.20x	$3.33 Million
Orange S.A. (ORA)	$29.59 Billion	13.16%	2.25x	$47.88 Billion

About Itissalat Al-Maghrib

PA:IAM France Telecom Services

Market Cap

$9.66 Billion

€8.26 Billion EUR

Market Cap Rank

#2437 Global

#52 in France

Share Price

€9.40

Change (1 day)

+0.64%

52-Week Range

€8.90 - €11.60

All Time High

€11.60