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CMH

Combined Motor HoldingsJSE:CMH Stock Report

Market Cap

R1.9b

7D

0%

1Y

67.7%

Updated

22 Oct, 2021

Data

Company Financials
CMH fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance5/6
Financial Health5/6
Dividends4/6

CMH Overview

Combined Motor Holdings Limited, an investment holding company, engages in the motor retail and car hire businesses in South Africa.

Price History & Performance

Summary of all time highs, changes and price drops for Combined Motor Holdings
Historical stock prices
Current Share PriceR26.00
52 Week HighR11.52
52 Week LowR29.99
Beta0.77
1 Month Change4.00%
3 Month Change25.60%
1 Year Change67.74%
3 Year Change15.61%
5 Year Change42.86%
Change since IPO10,300.00%

Recent News & Updates

Oct 21
Combined Motor Holdings' (JSE:CMH) Dividend Will Be Increased To R1.10

Combined Motor Holdings' (JSE:CMH) Dividend Will Be Increased To R1.10

The board of Combined Motor Holdings Limited ( JSE:CMH ) has announced that it will be increasing its dividend on the...

Shareholder Returns

CMHZA Specialty RetailZA Market
7D0%1.4%-0.7%
1Y67.7%59.7%19.0%

Return vs Industry: CMH exceeded the ZA Specialty Retail industry which returned 59.7% over the past year.

Return vs Market: CMH exceeded the ZA Market which returned 19% over the past year.

Price Volatility

Is CMH's price volatile compared to industry and market?
CMH volatility
CMH Beta0.77
Industry Beta0.91
Market Beta1

Stable Share Price: CMH is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: CMH's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19762,204Jebb McIntoshhttps://www.cmh.co.za

Combined Motor Holdings Limited, an investment holding company, engages in the motor retail and car hire businesses in South Africa. It offers new and used vehicles, parts, and related services; and life, disability, dread disease, retrenchment, and vehicle and component warranty insurance products, as well as vehicle financing solutions. The company also operates a fleet of approximately 7,000 vehicles through First Car Rental.

Combined Motor Holdings Fundamentals Summary

How do Combined Motor Holdings's earnings and revenue compare to its market cap?
CMH fundamental statistics
Market CapR1.94b
Earnings (TTM)R332.49m
Revenue (TTM)R10.53b

5.8x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CMH income statement (TTM)
RevenueR10.53b
Cost of RevenueR8.77b
Gross ProfitR1.76b
ExpensesR1.43b
EarningsR332.49m

Last Reported Earnings

Aug 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)4.44
Gross Margin16.75%
Net Profit Margin3.16%
Debt/Equity Ratio50.3%

How did CMH perform over the long term?

See historical performance and comparison

Dividends

9.0%

Current Dividend Yield

53%

Payout Ratio

Does CMH pay a reliable dividends?

See CMH dividend history and benchmarks
When do you need to buy CMH by to receive an upcoming dividend?
Combined Motor Holdings dividend dates
Ex Dividend DateDec 14 2021
Dividend Pay DateDec 20 2021
Days until Ex dividend52 days
Days until Dividend pay date58 days

Does CMH pay a reliable dividends?

See CMH dividend history and benchmarks

Valuation

Is Combined Motor Holdings undervalued compared to its fair value and its price relative to the market?

5.85x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CMH (ZAR26) is trading above our estimate of fair value (ZAR14.94)

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


Price To Earnings Ratio

PE vs Industry: CMH is good value based on its PE Ratio (5.8x) compared to the ZA Specialty Retail industry average (8.9x).

PE vs Market: CMH is good value based on its PE Ratio (5.8x) compared to the ZA market (11.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CMH's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CMH is overvalued based on its PB Ratio (2x) compared to the ZA Specialty Retail industry average (1.6x).


Future Growth

How is Combined Motor Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

33.7%

Forecasted Retail industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Combined Motor Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Combined Motor Holdings performed over the past 5 years?

-1.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CMH has high quality earnings.

Growing Profit Margin: CMH's current net profit margins (3.2%) are higher than last year (1%).


Past Earnings Growth Analysis

Earnings Trend: CMH's earnings have declined by 1.4% per year over the past 5 years.

Accelerating Growth: CMH's earnings growth over the past year (288.1%) exceeds its 5-year average (-1.4% per year).

Earnings vs Industry: CMH earnings growth over the past year (288.1%) exceeded the Specialty Retail industry 148%.


Return on Equity

High ROE: CMH's Return on Equity (34.4%) is considered high.


Financial Health

How is Combined Motor Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: CMH's short term assets (ZAR2.2B) exceed its short term liabilities (ZAR1.8B).

Long Term Liabilities: CMH's short term assets (ZAR2.2B) exceed its long term liabilities (ZAR764.7M).


Debt to Equity History and Analysis

Debt Level: CMH's debt to equity ratio (50.3%) is considered high.

Reducing Debt: CMH's debt to equity ratio has reduced from 134.3% to 50.3% over the past 5 years.

Debt Coverage: CMH's debt is well covered by operating cash flow (64.4%).

Interest Coverage: CMH's interest payments on its debt are well covered by EBIT (5.8x coverage).


Balance Sheet


Dividend

What is Combined Motor Holdings's current dividend yield, its reliability and sustainability?

9.04%

Current Dividend Yield


Upcoming Dividend Payment

TodayOct 22 2021Ex Dividend DateDec 14 2021Dividend Pay DateDec 20 20216 days from Ex DividendBuy in the next 52 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: CMH's dividend (9.04%) is higher than the bottom 25% of dividend payers in the ZA market (3.14%).

High Dividend: CMH's dividend (9.04%) is in the top 25% of dividend payers in the ZA market (7.7%)


Stability and Growth of Payments

Stable Dividend: CMH's dividend payments have been volatile in the past 10 years.

Growing Dividend: CMH's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.9%), CMH's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

20.8yrs

Average management tenure


CEO

Jebb McIntosh (75 yo)

20.75yrs

Tenure

R8,110,000

Compensation

Mr. Jebb D. McIntosh, CA(SA) has been Chief Executive Officer of Combined Motor Holdings Ltd. since 2001. Mr. McIntosh is the founder of Combined Motor Holdings Ltd and serves as its Managing Director.He...


CEO Compensation Analysis

Compensation vs Market: Jebb's total compensation ($USD548.53K) is above average for companies of similar size in the ZA market ($USD279.53K).

Compensation vs Earnings: Jebb's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CMH's management team is seasoned and experienced (20.8 years average tenure).


Board Members

Experienced Board: CMH's board of directors are considered experienced (6.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CMH insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Combined Motor Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Combined Motor Holdings Limited
  • Ticker: CMH
  • Exchange: JSE
  • Founded: 1976
  • Industry: Automotive Retail
  • Sector: Retail
  • Market Cap: R1.945b
  • Shares outstanding: 74.80m
  • Website: https://www.cmh.co.za

Number of Employees


Location

  • Combined Motor Holdings Limited
  • 1 Wilton Crescent
  • Umhlanga Ridge
  • Umhlanga
  • KwaZulu-Natal
  • 4319
  • South Africa

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/22 17:02
End of Day Share Price2021/10/22 00:00
Earnings2021/08/31
Annual Earnings2021/02/28


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.