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Carma Limited (CMA) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Carma Limited stock A$0.24, price A$0.60, that is 60.0% below the price, quality 50 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Consumer Cyclical AU · ISIN AU0000428088

CL Carma Limited logo Thin data Nov 9, 2026

Carma Limited

CMA · AU
Very expensive, in a downtrend

Our calculation puts a fair price 60% below what the stock costs today.

Revenue last quarter +89% vs. a year ago.
Quality 50/100
Expensive Growth (revenue 3y +33.4 %/yr in AUD)
Fair value A$0.2400 · Strongly overvalued
Loss-making · -43.6% net margin (TTM)
Negative free cash flow
Trails peers (1/9)
Narrow moat 6/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

A$2.50 A$0.6000 Fair Value A$0.2400 Nov 2025 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

12‑month range A$0.6000 – A$2.50 · fair‑value band A$0.1600 – A$0.3000 · the A$0.6000 price screens above the A$0.2400 fair value. As of Nov 9, 2026.

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Company profile

Carma Limited operates a digital platform for buying and selling used cars in Australia. The company sells various types of used cars, such as SUVs, utes, hatchbacks, sedans, people movers, coupes, and convertibles.

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It also provides direct-from-consumer sourcing, inspection and inhouse reconditioning, AI-powered pricing, online retail, dealer-only wholesale auctions, financing and delivery services. Carma Limited was incorporated in 2021 and is based in Strawberry Hills, Australia.

Stock analysis

Carma Limited (CMA) currently trades at A$0.6000, while our model-based Fair Value estimate is A$0.2400, 60% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 88/100, which puts the data coverage at low.

Scenario range: A$0.1600 (bear) to A$0.3000 (bull), the price of A$0.6000 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 50/100 (solid quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Carma Limited reported revenue of A$114M in FY2026 versus A$48.0M in FY2023, a compound +33.4%/yr. Reported net income was −A$49.6M in FY2026.

Key figures

Market cap A$82.5M (≈ $56.8M) Micro · P/S ratio 0.80 · EPS (TTM) A$−0.4700 · Net margin −43.6% · Return on equity −237% · Return on assets (EBIT) −52.3% (4-year average) · Operating margin −30.6% · Revenue (TTM) A$114M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 76% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at −60%, CMA screens richer than that median.

Fair Value models

Bear A$0.1600 Fair Value A$0.2400 Bull A$0.3000
Price A$0.6000 · Downside -60.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) A$0.1600 A$0.2400 A$0.3000 52
All 1 models by family
Asset-Based
NCAV (Graham) A$0.1600 A$0.2400 A$0.3000 52

Open the full fair value analysis →

Quality Score breakdown

Overall quality 50/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 25
How much profit the company makes from its sales and capital
Quality Growth 74
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 69
Debt, balance sheet and risk of trouble
Investment 91
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 11
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 78
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+59.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+33.4%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−57.0% (2023) → −34.7% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

CMA screens overvalued: fair value 60% below the price. Compare with Carvana Co →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Auto & Truck Dealerships · 84 stocks

Beats the industry median on 1/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside −60.0% · Bottom 25%
Profitability
Return on assets −69.1% · Bottom 25%
Net margin (12 months) −43.6% · Bottom 25%
Operating margin (12 months) −30.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 88.8% · Top 25%

Valuation Multiplesvs Auto & Truck Dealerships median · lower = cheaper

P/B 1.58× · Pricier than median
P/S (12 months) 0.72× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 45
FUTURE (revenue growth)100 · sector 30
PAST (return on equity)0 · sector 30
HEALTH (low debt)0 · sector 83
DIVIDEND (yield)0 · sector 73

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Auto & Truck Dealerships stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Lithia Motors, Inc LAD $308.77 $517.15 +67% vs CMA
AutoNation, Inc AN $184.00 $218.68 +19% vs CMA
Hotai Motor Co 2207 533.00 TWD 576.75 TWD +8% vs CMA
Penske Automotive Group PAG $212.36 $220.10 +4% vs CMA
OPENLANE, Inc OPLN $34.35 $30.74 −11% vs CMA
Rush Enterprises, Inc RUSHB $58.61 $49.69 −15% vs CMA
CarMax, Inc KMX $51.48 $32.38 −37% vs CMA
Carvana Co CVNA $73.57 $25.27 −66% vs CMA
Valvoline Inc VVV $34.81 $11.66 −67% vs CMA
AUTO1 Group AG1 €17.20 €4.48 −74% vs CMA

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Carma Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Carma Limited Fair Value". https://www.fairvalue-calculator.com/stock/CMA

Frequently asked questions

Is Carma Limited (CMA) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of A$0.2400 versus a price of A$0.6000, about 60% lower (overvalued).
What is the fair value of CMA?
Our model-based fair value for Carma Limited is A$0.2400 (as of Nov 9, 2026), built from audited fundamentals. The current price: A$0.6000.
What is the quality score of CMA?
Carma Limited has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Carma Limited (CMA)?
Our model-based price target is the fair value of A$0.2400 (as of Nov 9, 2026) from 1 valuation models. Cautious scenario A$0.1600, optimistic scenario A$0.3000. It is a calculation from audited fundamentals, not an analyst target.
What is the Carma Limited stock forecast for 2026?
Our models put fair value at A$0.2400, about 60% lower versus a price of A$0.6000 (overvalued). Cautious scenario A$0.1600, optimistic scenario A$0.3000. The calculation is refreshed regularly with new filings.
What is the revenue of Carma Limited (CMA)?
Carma Limited reported trailing-twelve-month revenue of about A$114M (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of Carma Limited (CMA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Carma Limited it is A$0.2400 per share (as of Nov 9, 2026), against a price of A$0.6000. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Carma Limited stock overvalued or undervalued in 2026?
As of Nov 9, 2026, CMA trades above its calculated fair value: price A$0.6000, fair value A$0.2400, a gap of about −60% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CMA?
No. The price is what the market pays today (A$0.6000); the fair value is what the company's own numbers justify (A$0.2400). For Carma Limited the two are A$0.3600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Carma Limited worth?
The market values Carma Limited at about A$82.5M (market capitalisation, as of Nov 9, 2026). Per share that is A$0.6000; our models calculate a fair value of A$0.2400 per share.
What do the bullish and bearish scenarios say about CMA?
Our models span a range for Carma Limited: cautious scenario A$0.1600, base A$0.2400, optimistic A$0.3000 per share (as of Nov 9, 2026, price A$0.6000). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Carma Limited (CMA)?
Balance-sheet figures for Carma Limited (as of Nov 9, 2026): return on equity −237.0%. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is CMA from its 52-week high?
Carma Limited trades at A$0.6000, about 76% below its 52-week high of A$2.50 and at the low of A$0.6000 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.2400 is for.
Which stocks are comparable to Carma Limited?
From the same area (Consumer Cyclical) we also value Carvana Co, Penske Automotive Group, Hotai Motor Co, CarMax, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Carma Limited stock attractive at the current price?
The data as of Nov 9, 2026: price A$0.6000, calculated fair value A$0.2400 (−60%), Quality Score 50/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CMA calculated?
We run Carma Limited through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of A$0.2400 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Carma Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Carma Limited (CMA)?
The closing price on Nov 6, 2026 was A$0.6000. Our model-based fair value is A$0.2400, about 60% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Carma Limited right now?
The price sits above even our optimistic bull case (A$0.3000). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (A$0.1600 to A$0.3000) leaves room in how you read the outcome.

Key figures of Carma Limited

How large is the market capitalisation of Carma Limited (CMA)?
The market capitalisation of Carma Limited is A$82.5M (≈ $56.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Carma Limited (CMA)?
The price-to-sales ratio of Carma Limited is 0.80 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Carma Limited (CMA)?
Earnings per share at Carma Limited are A$−0.4700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Carma Limited (CMA)?
The net margin of Carma Limited is −43.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Carma Limited (CMA)?
The return on equity (ROE) of Carma Limited is −237% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Carma Limited (CMA)?
On an EBIT basis the return on assets of Carma Limited is −52.3% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Carma Limited (CMA)?
The operating margin of Carma Limited is −30.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Carma Limited (CMA)?
Revenue at Carma Limited is growing +88.8% versus a year earlier (3y avg +33.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Carma Limited (CMA) generate?
The free cash flow of Carma Limited is −A$52.5M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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