Financials Cosumar SA

Equities

CSR

MA0000012247

Food Processing

End-of-day quote Casablanca S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
197.8 MAD +0.87% Intraday chart for Cosumar SA -0.10% +1.44%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 16,488 20,683 19,852 24,661 17,953 18,690 18,690 -
Enterprise Value (EV) 1 17,599 21,695 21,466 25,064 19,022 18,865 18,834 18,690
P/E ratio 18.5 x 22.4 x 24.5 x 32.3 x - 19.8 x 20 x -
Yield 4.01% 4.57% 2.86% 2.3% 3.68% 3.56% 3.54% 3.54%
Capitalization / Revenue 2.15 x 2.52 x 2.3 x 2.71 x 1.72 x 1.82 x 1.77 x 1.69 x
EV / Revenue 2.3 x 2.64 x 2.49 x 2.75 x 1.82 x 1.84 x 1.78 x 1.69 x
EV / EBITDA 9.7 x 11.8 x 11.7 x 13.1 x 11.1 x 10.7 x 10.2 x -
EV / FCF -8.96 x 21.6 x 96.7 x 13.9 x -563 x 20.7 x 27.2 x -
FCF Yield -11.2% 4.63% 1.03% 7.2% -0.18% 4.82% 3.68% -
Price to Book 3.19 x - - - - - - -
Nbr of stocks (in thousands) 94,487 94,487 94,487 94,487 94,487 94,487 94,487 -
Reference price 2 174.5 218.9 210.1 261.0 190.0 197.8 197.8 197.8
Announcement Date 3/25/19 4/30/20 3/18/21 4/30/22 3/16/23 - - -
1MAD in Million2MAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 7,667 8,212 8,630 9,112 10,433 10,256 10,563 11,091
EBITDA 1 1,814 1,840 1,830 1,918 1,721 1,755 1,849 -
EBIT 1 1,450 1,455 1,414 1,408 1,294 1,325 1,398 -
Operating Margin 18.91% 17.72% 16.39% 15.45% 12.41% 12.92% 13.23% -
Earnings before Tax (EBT) 1,319 - 1,208 - - - - -
Net income 1 891 923.8 810 763 826 1,108 950 1,016
Net margin 11.62% 11.25% 9.39% 8.37% 7.92% 10.8% 8.99% 9.16%
EPS 2 9.430 9.780 8.570 8.075 - 10.00 9.900 -
Free Cash Flow 1 -1,965 1,004 221.9 1,806 -33.8 910 693 -
FCF margin -25.62% 12.23% 2.57% 19.81% -0.32% 8.87% 6.56% -
FCF Conversion (EBITDA) - 54.59% 12.13% 94.15% - 51.85% 37.48% -
FCF Conversion (Net income) - 108.72% 27.4% 236.64% - 82.13% 72.95% -
Dividend per Share 2 7.000 10.00 6.000 6.000 7.000 7.050 7.000 7.000
Announcement Date 3/25/19 4/30/20 3/18/21 4/30/22 3/16/23 - - -
1MAD in Million2MAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 1,111 1,012 1,614 403 1,070 175 144 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.6125 x 0.5499 x 0.882 x 0.2101 x 0.6214 x 0.0997 x 0.0779 x -
Free Cash Flow 1 -1,965 1,004 222 1,806 -33.8 910 693 -
ROE (net income / shareholders' equity) 17.7% 18% 15.7% 14.4% 15% 17.1% 15.1% 15.3%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 54.70 - - - - - - -
Cash Flow per Share - - - - - - - -
Capex 1 492 579 458 268 281 287 296 -
Capex / Sales 6.42% 7.05% 5.3% 2.94% 2.7% 2.8% 2.8% -
Announcement Date 3/25/19 4/30/20 3/18/21 4/30/22 3/16/23 - - -
1MAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
197.8 MAD
Average target price
215 MAD
Spread / Average Target
+8.70%
Consensus

Annual profits - Rate of surprise

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