| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 1/6 |
| Past Performance | 5/6 |
| Financial Health | 4/6 |
| Dividends | 0/6 |
CDM Overview
Crédit du Maroc S.A. provides various banking and financial products and services to individuals, professionals, and companies in Morocco.
Rewards
Risk Analysis
No risks detected for CDM from our risk checks.
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | د.م571.20 |
| 52 Week High | د.م416.00 |
| 52 Week Low | د.م596.00 |
| Beta | 0.42 |
| 1 Month Change | 6.77% |
| 3 Month Change | 29.82% |
| 1 Year Change | 36.65% |
| 3 Year Change | 7.92% |
| 5 Year Change | 24.17% |
| Change since IPO | 63.20% |
Recent News & Updates
Shareholder Returns
| CDM | MA Banks | MA Market | |
|---|---|---|---|
| 7D | -4.2% | 0.4% | 0.03% |
| 1Y | 36.7% | 25.0% | 24.8% |
Return vs Industry: CDM exceeded the MA Banks industry which returned 25% over the past year.
Return vs Market: CDM exceeded the MA Market which returned 24.8% over the past year.
Price Volatility
| CDM volatility | |
|---|---|
| CDM Beta | 0.42 |
| Industry Beta | 0.41 |
| Market Beta | 1 |
Stable Share Price: CDM is less volatile than 75% of MA stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: Insufficient data to determine CDM's volatility change over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1929 | 2,504 | Bernard Muselet | https://www.creditdumaroc.ma |
Crédit du Maroc S.A. provides various banking and financial products and services to individuals, professionals, and companies in Morocco. It offers bank accounts, bank cards, and online banking services; mortgages, and auto and consumer credits; savings insurance, and pension and education savings; and accident protection, as well as death and disability, multi-risk home, and payment means insurance. The company also offers accounts and cards; funding for cash requirement, equipment credit, and furniture leasing, as well as mortgages; financial investments; and risks of life, provident, and account insurance to professionals.
Crédit du Maroc Fundamentals Summary
| CDM fundamental statistics | |
|---|---|
| Market Cap | د.م6.22b |
| Earnings (TTM) | د.م444.38m |
| Revenue (TTM) | د.م2.04b |
14.0x
P/E Ratio1.1x
P/B RatioIs CDM overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| CDM income statement (TTM) | |
|---|---|
| Revenue | د.م2.04b |
| Cost of Revenue | د.م0 |
| Gross Profit | د.م2.04b |
| Expenses | د.م1.59b |
| Earnings | د.م444.38m |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 40.84 |
| Gross Margin | 100.00% |
| Net Profit Margin | 21.80% |
| Debt/Equity Ratio | 87.6% |
How did CDM perform over the long term?
See historical performance and comparisonDividends
0.8%
Current Dividend Yield11%
Payout RatioValuation
Is Crédit du Maroc undervalued compared to its fair value and its price relative to the market?
13.99x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: Insufficient data to calculate CDM's fair value to establish if it is undervalued.
Significantly Below Fair Value: Insufficient data to calculate CDM's fair value to establish if it is undervalued.
Price To Earnings Ratio
PE vs Industry: CDM is good value based on its PE Ratio (14x) compared to the MA Banks industry average (24.2x).
PE vs Market: CDM is good value based on its PE Ratio (14x) compared to the MA market (26.6x).
Price to Earnings Growth Ratio
PEG Ratio: CDM is poor value based on its PEG Ratio (5.8x)
Price to Book Ratio
PB vs Industry: CDM is good value based on its PB Ratio (1.1x) compared to the MA Banks industry average (1.7x).
Future Growth
How is Crédit du Maroc forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
2.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CDM's forecast earnings growth (2.4% per year) is below the savings rate (9.1%).
Earnings vs Market: CDM's earnings (2.4% per year) are forecast to grow slower than the MA market (13.1% per year).
High Growth Earnings: CDM's earnings are forecast to grow, but not significantly.
Revenue vs Market: CDM's revenue (8.7% per year) is forecast to grow faster than the MA market (6.8% per year).
High Growth Revenue: CDM's revenue (8.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CDM's Return on Equity is forecast to be low in 3 years time (6.9%).
Past Performance
How has Crédit du Maroc performed over the past 5 years?
1.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CDM has high quality earnings.
Growing Profit Margin: CDM's current net profit margins (21.8%) are higher than last year (12.9%).
Past Earnings Growth Analysis
Earnings Trend: CDM's earnings have grown by 1.8% per year over the past 5 years.
Accelerating Growth: CDM's earnings growth over the past year (91.6%) exceeds its 5-year average (1.8% per year).
Earnings vs Industry: CDM earnings growth over the past year (91.6%) exceeded the Banks industry 8.4%.
Return on Equity
High ROE: CDM's Return on Equity (7.6%) is considered low.
Financial Health
How is Crédit du Maroc's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: CDM's Assets to Equity ratio (9.9x) is low.
Allowance for Bad Loans: CDM has a low allowance for bad loans (96%).
Low Risk Liabilities: 87% of CDM's liabilities are made up of primarily low risk sources of funding.
Loan Level: CDM has an appropriate level of Loans to Assets ratio (72%).
Low Risk Deposits: CDM's Loans to Deposits ratio (93%) is appropriate.
Level of Bad Loans: CDM has a high level of bad loans (8.7%).
Dividend
What is Crédit du Maroc current dividend yield, its reliability and sustainability?
0.80%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CDM's dividend (0.8%) isn’t notable compared to the bottom 25% of dividend payers in the MA market (2.22%).
High Dividend: CDM's dividend (0.8%) is low compared to the top 25% of dividend payers in the MA market (4.84%).
Stability and Growth of Payments
Stable Dividend: CDM is not paying a notable dividend for the MA market, therefore no need to check if payments are stable.
Growing Dividend: CDM is not paying a notable dividend for the MA market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: CDM is not paying a notable dividend for the MA market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CDM's dividend in 3 years as they are not forecast to pay a notable one for the MA market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.0yrs
Average management tenure
CEO
Bernard Muselet
2yrs
Tenure
Mr. Bernard Muselet is President of Executive Board at Crédit du Maroc SA since October 2019. He served as Deputy General Manager In Charge of Development at Crédit Agricole Leasing & Factoring. Mr. Musele...
Leadership Team
Experienced Management: CDM's management team is considered experienced (2 years average tenure).
Board Members
Experienced Board: CDM's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Crédit du Maroc S.A.'s employee growth, exchange listings and data sources
Key Information
- Name: Crédit du Maroc S.A.
- Ticker: CDM
- Exchange: CBSE
- Founded: 1929
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: د.م6.215b
- Shares outstanding: 10.88m
- Website: https://www.creditdumaroc.ma
Number of Employees
Location
- Crédit du Maroc S.A.
- 48 - 58 boulevard Mohammed V
- Casablanca
- 20000
- Morocco
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/25 21:34 |
| End of Day Share Price | 2021/10/25 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.