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SBM

Societe des Boissons du MarocCBSE:SBM Stock Report

Market Cap

د.م7.8b

7D

0%

1Y

27.9%

Updated

21 Oct, 2021

Data

Company Financials +
SBM fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance2/6
Financial Health5/6
Dividends1/6

SBM Overview

Societe des Boissons du Maroc engages in brewing, bottling, and marketing beer in Morocco.

Price History & Performance

Summary of all time highs, changes and price drops for Societe des Boissons du Maroc
Historical stock prices
Current Share Priceد.م2,750.00
52 Week Highد.م2,150.00
52 Week Lowد.م2,775.00
Beta0.48
1 Month Change0.77%
3 Month Change3.81%
1 Year Change27.91%
3 Year Change5.77%
5 Year Change25.00%
Change since IPO42,207.69%

Recent News & Updates

Shareholder Returns

SBMMA BeverageMA Market
7D0%0.4%0.06%
1Y27.9%22.1%25.5%

Return vs Industry: SBM exceeded the MA Beverage industry which returned 21.5% over the past year.

Return vs Market: SBM exceeded the MA Market which returned 26.2% over the past year.

Price Volatility

Is SBM's price volatile compared to industry and market?
SBM volatility
SBM Beta0.48
Industry Beta0.68
Market Beta1

Stable Share Price: Insufficient data to determine SBM's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine SBM's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
1919630n/ahttps://www.boissons-maroc.com/fr

Societe des Boissons du Maroc engages in brewing, bottling, and marketing beer in Morocco. It also produces, markets, and trades in local wines, soft drinks, and mineral water; and provides olive oil. The company was founded in 1919 and is based in Casablanca, Morocco.

Societe des Boissons du Maroc Fundamentals Summary

How do Societe des Boissons du Maroc's earnings and revenue compare to its market cap?
SBM fundamental statistics
Market Capد.م7.78b
Earnings (TTM)د.م306.29m
Revenue (TTM)د.م2.52b

25.4x

P/E Ratio

3.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SBM income statement (TTM)
Revenueد.م2.52b
Cost of Revenueد.م543.39m
Gross Profitد.م1.98b
Expensesد.م1.67b
Earningsد.م306.29m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)108.24
Gross Margin78.45%
Net Profit Margin12.15%
Debt/Equity Ratio7.5%

How did SBM perform over the long term?

See historical performance and comparison

Dividends

3.9%

Current Dividend Yield

98%

Payout Ratio

Valuation

Is Societe des Boissons du Maroc undervalued compared to its fair value and its price relative to the market?

21.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SBM (MAD2750) is trading below our estimate of fair value (MAD3519.98)

Significantly Below Fair Value: SBM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SBM is good value based on its PE Ratio (25.4x) compared to the African Beverage industry average (27.6x).

PE vs Market: SBM is good value based on its PE Ratio (25.4x) compared to the MA market (26.8x).


Price to Earnings Growth Ratio

PEG Ratio: SBM is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: SBM is overvalued based on its PB Ratio (6.2x) compared to the XF Beverage industry average (2.4x).


Future Growth

How is Societe des Boissons du Maroc forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

15.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBM's forecast earnings growth (15.3% per year) is above the savings rate (9.1%).

Earnings vs Market: SBM's earnings (15.3% per year) are forecast to grow faster than the MA market (13.1% per year).

High Growth Earnings: SBM's earnings are forecast to grow, but not significantly.

Revenue vs Market: SBM's revenue (6.4% per year) is forecast to grow slower than the MA market (6.8% per year).

High Growth Revenue: SBM's revenue (6.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SBM's Return on Equity is forecast to be high in 3 years time (26.3%)


Past Performance

How has Societe des Boissons du Maroc performed over the past 5 years?

-2.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SBM has high quality earnings.

Growing Profit Margin: SBM's current net profit margins (12.1%) are lower than last year (12.1%).


Past Earnings Growth Analysis

Earnings Trend: SBM's earnings have declined by 2.8% per year over the past 5 years.

Accelerating Growth: SBM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SBM had negative earnings growth (-1.7%) over the past year, making it difficult to compare to the Beverage industry average (19.7%).


Return on Equity

High ROE: SBM's Return on Equity (23.5%) is considered high.


Financial Health

How is Societe des Boissons du Maroc's financial position?


Financial Position Analysis

Short Term Liabilities: SBM's short term assets (MAD1.5B) exceed its short term liabilities (MAD752.4M).

Long Term Liabilities: SBM's short term assets (MAD1.5B) exceed its long term liabilities (MAD195.3M).


Debt to Equity History and Analysis

Debt Level: SBM's debt to equity ratio (7.5%) is considered satisfactory.

Reducing Debt: SBM's debt to equity ratio has increased from 2.5% to 7.5% over the past 5 years.

Debt Coverage: SBM's debt is well covered by operating cash flow (556.6%).

Interest Coverage: SBM earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Societe des Boissons du Maroc current dividend yield, its reliability and sustainability?

3.85%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SBM's dividend (3.85%) is higher than the bottom 25% of dividend payers in the MA market (2.22%).

High Dividend: SBM's dividend (3.85%) is low compared to the top 25% of dividend payers in the MA market (4.86%).


Stability and Growth of Payments

Stable Dividend: SBM has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: SBM has only been paying a dividend for 8 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (97.9%), SBM's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SBM's dividends in 3 years are not forecast to be well covered by earnings (90.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

12.4yrs

Average board tenure


CEO

Societe des Boissons du Maroc has no CEO, or we have no data on them.


Board Members

Experienced Board: SBM's board of directors are seasoned and experienced ( 12.4 years average tenure).


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

Societe des Boissons du Maroc's employee growth, exchange listings and data sources


Key Information

  • Name: Societe des Boissons du Maroc
  • Ticker: SBM
  • Exchange: CBSE
  • Founded: 1919
  • Industry: Brewers
  • Sector: Food, Beverage & Tobacco
  • Market Cap: د.م7.782b
  • Shares outstanding: 2.83m
  • Website: https://www.boissons-maroc.com/fr

Number of Employees


Location

  • Societe des Boissons du Maroc
  • N°38, Boulevard Aïn Ifrane
  • Lot Alamia
  • Casablanca
  • Morocco

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/21 16:30
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.