Attijariwafa Bank (CAS:ATW) E10: MAD37.28 (As of Mar. 2026)


CAS:ATW Attijariwafa Bank SA CAS:ATW
72 GF Score
Price MAD689.00
GF Value MAD641.03
Valuation Fairly Valued
! 2 Warning Signs
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What is Attijariwafa Bank E10?

Attijariwafa Bank CAS:ATW +0.16% 72 E10 is MAD37.28 as of Mar. 2026. GuruFocus rates CAS:ATW with a GF Score™ of 72/100 and a GF Value™ of MAD641.03 (Fairly Valued). The stock has 2 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Attijariwafa Bank's adjusted earnings per share data for the three months ended in Mar. 2026 was MAD14.510. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is MAD37.28 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Attijariwafa Bank's average E10 Growth Rate was 9.10% per year. During the past 3 years, the average E10 Growth Rate was 8.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Attijariwafa Bank was 8.00% per year. The lowest was 8.00% per year. And the median was 8.00% per year.

As of today (2026-06-25), Attijariwafa Bank's current stock price is MAD689.00. Attijariwafa Bank's E10 for the quarter that ended in Mar. 2026 was MAD37.28. Attijariwafa Bank's Shiller PE Ratio of today is 18.48.

During the past 13 years, the highest Shiller PE Ratio of Attijariwafa Bank was 22.47. The lowest was 12.54. And the median was 16.49.


Attijariwafa Bank  (CAS:ATW) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Attijariwafa Bank's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=689.00/37.28
=18.48

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Attijariwafa Bank was 22.47. The lowest was 12.54. And the median was 16.49.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Attijariwafa Bank E10 Related Terms


Attijariwafa Bank E10 Historical Data

* Premium members only.

The historical data trend for Attijariwafa Bank's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Attijariwafa Bank E10 Chart

Attijariwafa Bank Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 28.54 30.48 33.13 35.92

Attijariwafa Bank Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 34.18 35.16 35.72 35.92 37.28

CAS:ATW vs JPM, BAC, WFC: E10 Comparison

For the Banks - Diversified subindustry, Attijariwafa Bank's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Attijariwafa Bank Shiller PE Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Attijariwafa Bank's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Attijariwafa Bank's Shiller PE Ratio falls into.


CAS:ATW
72GF Score
Attijariwafa Bank SA CAS:ATW
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Attijariwafa Bank E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Attijariwafa Bank's adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=14.51/330.2130*330.2130
=14.510

Current CPI (Mar. 2026) = 330.2130.

Attijariwafa Bank Quarterly Data

per share eps CPI Adj_EPS
201606 6.680 241.018 9.152
201609 5.080 241.428 6.948
201612 6.030 241.432 8.247
201703 6.000 243.801 8.127
201706 6.920 244.955 9.329
201709 7.150 246.819 9.566
201712 6.420 246.524 8.599
201803 6.600 249.554 8.733
201806 7.140 251.989 9.356
201809 7.020 252.439 9.183
201812 6.430 251.233 8.451
201903 13.333 254.202 17.320
201906 1.592 256.143 2.052
201909 6.980 256.759 8.977
201912 6.750 256.974 8.674
202003 5.517 258.115 7.058
202006 0.832 257.797 1.066
202009 3.450 260.280 4.377
202012 4.980 260.474 6.313
202103 6.707 264.877 8.361
202106 6.472 271.696 7.866
202109 5.520 274.310 6.645
202112 6.130 278.802 7.260
202203 7.851 287.504 9.017
202206 7.187 296.311 8.009
202209 7.080 296.808 7.877
202212 7.180 296.797 7.988
202303 9.015 301.836 9.863
202306 8.885 305.109 9.616
202309 10.864 307.789 11.655
202312 8.418 306.746 9.062
202403 12.253 312.332 12.954
202406 12.042 314.175 12.657
202409 11.381 315.301 11.919
202412 11.416 315.605 11.944
202503 14.001 319.799 14.457
202506 15.168 322.561 15.528
202509 11.899 324.800 12.097
202512 11.750 324.054 11.973
202603 14.510 330.213 14.510

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of MAD37.28 mean?
Attijariwafa Bank (CAS:ATW) has a E10 of MAD37.28 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Attijariwafa Bank and its competitors.
Is Attijariwafa Bank's E10 too high?
Attijariwafa Bank's current E10 is MAD37.28. Overall, Attijariwafa Bank has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Attijariwafa Bank's E10 compare to JPM and BAC?
Attijariwafa Bank's E10 of MAD37.28 can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Banks company?
A good E10 depends on the Banks industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Attijariwafa Bank and its competitors. Attijariwafa Bank's current E10 is MAD37.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Attijariwafa Bank stock overvalued right now?
Based on GuruFocus' analysis, Attijariwafa Bank (CAS:ATW) is currently considered Fairly Valued. The stock's GF Value™ is MAD641.03, compared to a current price of MAD689.00 — trading 7.5% above its estimated fair value. The current E10 is MAD37.28. Attijariwafa Bank's overall GF Score™ is 72/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For Attijariwafa Bank (CAS:ATW), the current E10 is MAD37.28 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Attijariwafa Bank (CAS:ATW) Overvalued in 2026?

Based on GuruFocus' analysis, Attijariwafa Bank stock appears to be overvalued. The current stock price of MAD689.00 is trading 7.5% above its estimated GF Value™ of MAD641.03. GuruFocus considers Attijariwafa Bank to be Fairly Valued.

Key valuation signals for CAS:ATW:

  • E10: MAD37.28
  • GF Value™: MAD641.03 vs. price of MAD689.00 (7.5% above fair value)
  • GF Score™: 72/100 with 2 warning signs

No single metric tells the full story. See the CAS:ATW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Attijariwafa Bank Business Description

Address 2, Boulevard Moulay Youssef, PO Box No. 20000, Casablanca, MAR
Attijariwafa Bank SA is a Morrocan based financial and banking group. It is engaged in the provision of banking and insurance products and services. The company's banking activities include personal and professional banking, corporate banking, investment banking and international banking.
72GF Score

Get the complete analysis for CAS:ATW

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MAD689.00
Price
MAD641.03
GF Value