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TMA

Total MarocCBSE:TMA Stock Report

Market Cap

د.م16.1b

7D

4.0%

1Y

98.9%

Updated

15 Oct, 2021

Data

Company Financials +
TMA fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends2/6

TMA Overview

Total Maroc S.A. operates petroleum products service stations in Morocco.

Price History & Performance

Summary of all time highs, changes and price drops for Total Maroc
Historical stock prices
Current Share Priceد.م1,800.00
52 Week Highد.م903.00
52 Week Lowد.م1,800.00
Beta0.92
1 Month Change15.76%
3 Month Change21.62%
1 Year Change98.87%
3 Year Change63.64%
5 Year Change71.43%
Change since IPO223.74%

Recent News & Updates

Shareholder Returns

TMAMA Specialty RetailMA Market
7D4.0%-0.2%1.5%
1Y98.9%70.7%25.4%

Return vs Industry: TMA exceeded the MA Specialty Retail industry which returned 73.2% over the past year.

Return vs Market: TMA exceeded the MA Market which returned 24.4% over the past year.

Price Volatility

Is TMA's price volatile compared to industry and market?
TMA volatility
TMA Beta0.92
Industry Beta0.91
Market Beta1

Stable Share Price: TMA is not significantly more volatile than the rest of MA stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: TMA's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1927561Tarik Moufaddalhttps://www.total.ma

Total Maroc S.A. operates petroleum products service stations in Morocco. The company also engages in aviation, gas, and logistics businesses. It operates approximately 300 service stations.

Total Maroc Fundamentals Summary

How do Total Maroc's earnings and revenue compare to its market cap?
TMA fundamental statistics
Market Capد.م16.13b
Earnings (TTM)د.م743.69m
Revenue (TTM)د.م9.95b

21.7x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TMA income statement (TTM)
Revenueد.م9.95b
Cost of Revenueد.م7.61b
Gross Profitد.م2.34b
Expensesد.م1.60b
Earningsد.م743.69m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)83.00
Gross Margin23.55%
Net Profit Margin7.47%
Debt/Equity Ratio27.5%

How did TMA perform over the long term?

See historical performance and comparison

Dividends

2.8%

Current Dividend Yield

61%

Payout Ratio

Valuation

Is Total Maroc undervalued compared to its fair value and its price relative to the market?

21.69x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TMA (MAD1800) is trading above our estimate of fair value (MAD379.69)

Significantly Below Fair Value: TMA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TMA is poor value based on its PE Ratio (21.7x) compared to the African Specialty Retail industry average (9.1x).

PE vs Market: TMA is good value based on its PE Ratio (21.7x) compared to the MA market (27x).


Price to Earnings Growth Ratio

PEG Ratio: TMA's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: TMA is overvalued based on its PB Ratio (7.3x) compared to the XF Specialty Retail industry average (1.6x).


Future Growth

How is Total Maroc forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-9.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TMA's earnings are forecast to decline over the next 3 years (-9.1% per year).

Earnings vs Market: TMA's earnings are forecast to decline over the next 3 years (-9.1% per year).

High Growth Earnings: TMA's earnings are forecast to decline over the next 3 years.

Revenue vs Market: TMA's revenue is expected to decline over the next 3 years (-1.6% per year).

High Growth Revenue: TMA's revenue is forecast to decline over the next 3 years (-1.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TMA's Return on Equity is forecast to be high in 3 years time (21.6%)


Past Performance

How has Total Maroc performed over the past 5 years?

-11.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TMA has high quality earnings.

Growing Profit Margin: TMA's current net profit margins (7.5%) are higher than last year (3.7%).


Past Earnings Growth Analysis

Earnings Trend: TMA's earnings have declined by 11.5% per year over the past 5 years.

Accelerating Growth: TMA's earnings growth over the past year (89.3%) exceeds its 5-year average (-11.5% per year).

Earnings vs Industry: TMA earnings growth over the past year (89.3%) exceeded the Specialty Retail industry 55.4%.


Return on Equity

High ROE: TMA's Return on Equity (33.7%) is considered high.


Financial Health

How is Total Maroc's financial position?


Financial Position Analysis

Short Term Liabilities: TMA's short term assets (MAD4.1B) exceed its short term liabilities (MAD3.8B).

Long Term Liabilities: TMA's short term assets (MAD4.1B) exceed its long term liabilities (MAD761.6M).


Debt to Equity History and Analysis

Debt Level: TMA's debt to equity ratio (27.5%) is considered satisfactory.

Reducing Debt: TMA's debt to equity ratio has reduced from 184.2% to 27.5% over the past 5 years.

Debt Coverage: TMA's debt is well covered by operating cash flow (196.9%).

Interest Coverage: TMA's interest payments on its debt are well covered by EBIT (36x coverage).


Balance Sheet


Dividend

What is Total Maroc current dividend yield, its reliability and sustainability?

2.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TMA's dividend (2.8%) is higher than the bottom 25% of dividend payers in the MA market (2.24%).

High Dividend: TMA's dividend (2.8%) is low compared to the top 25% of dividend payers in the MA market (4.88%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, TMA has been paying a dividend for less than 10 years.

Growing Dividend: TMA's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (60.7%), TMA's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TMA's dividends in 3 years are not forecast to be well covered by earnings (91.5% payout ratio).


Next Steps

Management

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

2.1yrs

Average management tenure


CEO

Tarik Moufaddal

no data

Tenure

Mr. Tarik Moufaddal serves as Managing Director and Chair of Total Tanzania Ltd. Mr. Moufaddal is a MD & Director of Total Maroc S.A.


Leadership Team

Experienced Management: TMA's management team is considered experienced (2.1 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

Total Maroc S.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Total Maroc S.A.
  • Ticker: TMA
  • Exchange: CBSE
  • Founded: 1927
  • Industry: Automotive Retail
  • Sector: Retail
  • Market Cap: د.م16.128b
  • Shares outstanding: 8.96m
  • Website: https://www.total.ma

Number of Employees


Location

  • Total Maroc S.A.
  • 146, Boulevard Zerktouni
  • Casablanca
  • 20 000
  • Morocco

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/15 16:30
End of Day Share Price2021/10/14 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.