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Compagnie de Transports au Maroc (CAS:CTM) Piotroski F-Score : 6 (As of May. 24, 2024)


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What is Compagnie de Transports au Maroc Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Compagnie de Transports au Maroc has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Compagnie de Transports au Maroc's Piotroski F-Score or its related term are showing as below:

CAS:CTM' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 6

During the past 11 years, the highest Piotroski F-Score of Compagnie de Transports au Maroc was 8. The lowest was 1. And the median was 6.


Compagnie de Transports au Maroc Piotroski F-Score Historical Data

The historical data trend for Compagnie de Transports au Maroc's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Compagnie de Transports au Maroc Piotroski F-Score Chart

Compagnie de Transports au Maroc Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 5.00 4.00 7.00 6.00

Compagnie de Transports au Maroc Semi-Annual Data
Dec12 Dec13 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 7.00 - 6.00 -

Competitive Comparison of Compagnie de Transports au Maroc's Piotroski F-Score

For the Railroads subindustry, Compagnie de Transports au Maroc's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Compagnie de Transports au Maroc's Piotroski F-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Compagnie de Transports au Maroc's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Compagnie de Transports au Maroc's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec22) TTM:Last Year (Dec21) TTM:
Net Income was MAD35.4 Mil.
Cash Flow from Operations was MAD154.1 Mil.
Revenue was MAD605.2 Mil.
Gross Profit was MAD214.6 Mil.
Average Total Assets from the begining of this year (Dec21)
to the end of this year (Dec22) was (625.436 + 668.768) / 2 = MAD647.102 Mil.
Total Assets at the begining of this year (Dec21) was MAD625.4 Mil.
Long-Term Debt & Capital Lease Obligation was MAD108.9 Mil.
Total Current Assets was MAD334.9 Mil.
Total Current Liabilities was MAD257.5 Mil.
Net Income was MAD35.2 Mil.

Revenue was MAD530.0 Mil.
Gross Profit was MAD217.1 Mil.
Average Total Assets from the begining of last year (Dec20)
to the end of last year (Dec21) was (614.213 + 625.436) / 2 = MAD619.8245 Mil.
Total Assets at the begining of last year (Dec20) was MAD614.2 Mil.
Long-Term Debt & Capital Lease Obligation was MAD149.0 Mil.
Total Current Assets was MAD275.0 Mil.
Total Current Liabilities was MAD187.0 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Compagnie de Transports au Maroc's current Net Income (TTM) was 35.4. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Compagnie de Transports au Maroc's current Cash Flow from Operations (TTM) was 154.1. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec21)
=35.441/625.436
=0.05666607

ROA (Last Year)=Net Income/Total Assets (Dec20)
=35.206/614.213
=0.05731888

Compagnie de Transports au Maroc's return on assets of this year was 0.05666607. Compagnie de Transports au Maroc's return on assets of last year was 0.05731888. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Compagnie de Transports au Maroc's current Net Income (TTM) was 35.4. Compagnie de Transports au Maroc's current Cash Flow from Operations (TTM) was 154.1. ==> 154.1 > 35.4 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=108.852/647.102
=0.16821459

Gearing (Last Year: Dec21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec20 to Dec21
=148.969/619.8245
=0.24034061

Compagnie de Transports au Maroc's gearing of this year was 0.16821459. Compagnie de Transports au Maroc's gearing of last year was 0.24034061. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec22)=Total Current Assets/Total Current Liabilities
=334.931/257.455
=1.30093026

Current Ratio (Last Year: Dec21)=Total Current Assets/Total Current Liabilities
=275.03/186.951
=1.47113415

Compagnie de Transports au Maroc's current ratio of this year was 1.30093026. Compagnie de Transports au Maroc's current ratio of last year was 1.47113415. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Compagnie de Transports au Maroc's number of shares in issue this year was 1225.978. Compagnie de Transports au Maroc's number of shares in issue last year was 1225.978. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=214.576/605.165
=0.35457437

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=217.117/529.992
=0.4096609

Compagnie de Transports au Maroc's gross margin of this year was 0.35457437. Compagnie de Transports au Maroc's gross margin of last year was 0.4096609. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec21)
=605.165/625.436
=0.96758901

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec20)
=529.992/614.213
=0.86287982

Compagnie de Transports au Maroc's asset turnover of this year was 0.96758901. Compagnie de Transports au Maroc's asset turnover of last year was 0.86287982. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+0+1+0+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Compagnie de Transports au Maroc has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Compagnie de Transports au Maroc  (CAS:CTM) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Compagnie de Transports au Maroc Piotroski F-Score Related Terms

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Compagnie de Transports au Maroc (CAS:CTM) Business Description

Traded in Other Exchanges
N/A
Address
Km 13.5 Casa-Rabat Highway, Sidi Bernoussi, Casablanca, MAR, 20600
Compagnie de Transports au Maroc provides transportation services in Morocco. Its services include passenger transportation, express delivery, tourist transportation, among others.