Ciments du Maroc Société Anonyme manufactures and sells cement in Morocco.
Price History & Performance
|Historical stock prices|
|Current Share Price||د.م1,842.00|
|52 Week High||د.م1,440.00|
|52 Week Low||د.م1,940.00|
|1 Month Change||0.11%|
|3 Month Change||4.42%|
|1 Year Change||24.54%|
|3 Year Change||28.81%|
|5 Year Change||45.61%|
|Change since IPO||895.68%|
Recent News & Updates
|CMA||MA Basic Materials||MA Market|
Return vs Industry: CMA underperformed the MA Basic Materials industry which returned 65.2% over the past year.
Return vs Market: CMA underperformed the MA Market which returned 26.4% over the past year.
Stable Share Price: CMA is less volatile than 75% of MA stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: CMA's weekly volatility (2%) has been stable over the past year.
About the Company
Ciments du Maroc Société Anonyme manufactures and sells cement in Morocco. It offers ready concrete and aggregates. The company was founded in 1951 and is headquartered in Casablanca, Morocco.
Ciments du Maroc Société Anonyme Fundamentals Summary
|CMA fundamental statistics|
Is CMA overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|CMA income statement (TTM)|
|Cost of Revenue||د.م1.84b|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||75.79|
|Net Profit Margin||27.32%|
How did CMA perform over the long term?See historical performance and comparison
4.9%Current Dividend Yield
Is Ciments du Maroc Société Anonyme undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CMA (MAD1842) is trading above our estimate of fair value (MAD1160.98)
Significantly Below Fair Value: CMA is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CMA is poor value based on its PE Ratio (24.3x) compared to the African Basic Materials industry average (13.7x).
PE vs Market: CMA is good value based on its PE Ratio (24.3x) compared to the MA market (26.8x).
Price to Earnings Growth Ratio
PEG Ratio: CMA is poor value based on its PEG Ratio (3.9x)
Price to Book Ratio
PB vs Industry: CMA is overvalued based on its PB Ratio (8.4x) compared to the XF Basic Materials industry average (1.3x).
How is Ciments du Maroc Société Anonyme forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CMA's forecast earnings growth (6.3% per year) is below the savings rate (9.1%).
Earnings vs Market: CMA's earnings (6.3% per year) are forecast to grow slower than the MA market (13.1% per year).
High Growth Earnings: CMA's earnings are forecast to grow, but not significantly.
Revenue vs Market: CMA's revenue (5% per year) is forecast to grow slower than the MA market (6.6% per year).
High Growth Revenue: CMA's revenue (5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CMA's Return on Equity is forecast to be high in 3 years time (31%)
How has Ciments du Maroc Société Anonyme performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CMA has high quality earnings.
Growing Profit Margin: CMA's current net profit margins (27.3%) are higher than last year (20.8%).
Past Earnings Growth Analysis
Earnings Trend: CMA's earnings have grown by 16.1% per year over the past 5 years.
Accelerating Growth: CMA's earnings growth over the past year (44.8%) exceeds its 5-year average (16.1% per year).
Earnings vs Industry: CMA earnings growth over the past year (44.8%) underperformed the Basic Materials industry 44.8%.
Return on Equity
High ROE: CMA's Return on Equity (34.6%) is considered high.
How is Ciments du Maroc Société Anonyme's financial position?
Financial Position Analysis
Short Term Liabilities: CMA's short term assets (MAD3.7B) exceed its short term liabilities (MAD2.7B).
Long Term Liabilities: CMA's short term assets (MAD3.7B) exceed its long term liabilities (MAD250.3M).
Debt to Equity History and Analysis
Debt Level: CMA's debt to equity ratio (1.5%) is considered satisfactory.
Reducing Debt: CMA's debt to equity ratio has reduced from 4.6% to 1.5% over the past 5 years.
Debt Coverage: CMA's debt is well covered by operating cash flow (2745.4%).
Interest Coverage: CMA earns more interest than it pays, so coverage of interest payments is not a concern.
What is Ciments du Maroc Société Anonyme current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CMA's dividend (4.89%) is higher than the bottom 25% of dividend payers in the MA market (2.22%).
High Dividend: CMA's dividend (4.89%) is in the top 25% of dividend payers in the MA market (4.85%)
Stability and Growth of Payments
Stable Dividend: CMA's dividends per share have been stable in the past 10 years.
Growing Dividend: CMA's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (117.7%), CMA's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CMA's dividends in 3 years are not forecast to be well covered by earnings (104.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. Matteo Rozzanigo serves as General Manager and Director at Ciments du Maroc Société Anonyme. Mr. Rozzanigo has held several positions of responsibility at Italcementi since 2007 including the position...
Experienced Management: CMA's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Ciments du Maroc Société Anonyme's employee growth, exchange listings and data sources
- Name: Ciments du Maroc Société Anonyme
- Ticker: CMA
- Exchange: CBSE
- Founded: 1951
- Industry: Construction Materials
- Sector: Materials
- Market Cap: د.م26.591b
- Shares outstanding: 14.44m
- Website: https://www.cimentsdumaroc.com
Number of Employees
- Ciments du Maroc Société Anonyme
- 621 Panoramique Boulevard
- 20 150
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/18 21:40|
|End of Day Share Price||2021/10/18 00:00|
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.