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CMA

Ciments du Maroc Société AnonymeCBSE:CMA Stock Report

Market Cap

د.م26.6b

7D

-0.7%

1Y

24.5%

Updated

18 Oct, 2021

Data

Company Financials +
CMA fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends4/6

CMA Overview

Ciments du Maroc Société Anonyme manufactures and sells cement in Morocco.

Price History & Performance

Summary of all time highs, changes and price drops for Ciments du Maroc Société Anonyme
Historical stock prices
Current Share Priceد.م1,842.00
52 Week Highد.م1,440.00
52 Week Lowد.م1,940.00
Beta0.37
1 Month Change0.11%
3 Month Change4.42%
1 Year Change24.54%
3 Year Change28.81%
5 Year Change45.61%
Change since IPO895.68%

Recent News & Updates

Shareholder Returns

CMAMA Basic MaterialsMA Market
7D-0.7%1.0%1.0%
1Y24.5%65.2%26.4%

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.

Price Volatility

Is CMA's price volatile compared to industry and market?
CMA volatility
CMA Beta0.37
Industry Beta0.51
Market Beta1

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

FoundedEmployeesCEOWebsite
1951722Matteo Rozzanigohttps://www.cimentsdumaroc.com

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

How do Ciments du Maroc Société Anonyme's earnings and revenue compare to its market cap?
CMA fundamental statistics
Market Capد.م26.59b
Earnings (TTM)د.م1.09b
Revenue (TTM)د.م4.00b

24.3x

P/E Ratio

6.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CMA income statement (TTM)
Revenueد.م4.00b
Cost of Revenueد.م1.84b
Gross Profitد.م2.17b
Expensesد.م1.07b
Earningsد.م1.09b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)75.79
Gross Margin54.15%
Net Profit Margin27.32%
Debt/Equity Ratio1.5%

How did CMA perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

118%

Payout Ratio

Valuation

Is Ciments du Maroc Société Anonyme undervalued compared to its fair value and its price relative to the market?

24.31x

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).


Future Growth

How is Ciments du Maroc Société Anonyme forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

6.3%

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%)


Past Performance

How has Ciments du Maroc Société Anonyme performed over the past 5 years?

16.1%

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.


Financial Health

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.


Balance Sheet


Dividend

What is Ciments du Maroc Société Anonyme current dividend yield, its reliability and sustainability?

4.89%

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).


Next Steps

Management

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

1.3yrs

Average management tenure


CEO

Matteo Rozzanigo

no data

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...


Leadership Team

Experienced Management: CMA's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


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

Ciments du Maroc Société Anonyme's employee growth, exchange listings and data sources


Key Information

  • 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


Location

  • Ciments du Maroc Société Anonyme
  • 621 Panoramique Boulevard
  • Casablanca
  • 20 150
  • Morocco

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/18 21:40
End of Day Share Price2021/10/18 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.