Company Valuation: Asia Cement Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 157,069 145,383 147,005 143,281 131,932 128,918 - -
Change - -7.44% 1.12% -2.53% -7.92% -2.28% - -
Enterprise Value (EV) 1 187,402 171,976 244,955 182,449 180,650 164,664 154,110 137,071
Change - -8.23% 42.43% -25.52% -0.99% -8.85% -6.41% -11.06%
P/E 9.43x 11.3x 12.6x 10.5x 12.4x 10.9x 10.9x 11.7x
PBR 1x 0.9x 0.81x 0.74x 0.73x 0.66x 0.65x 0.65x
PEG - -0.5x -1.31x 0.6x -0.6x 0.9x 553.1x -1.63x
Capitalization / Revenue 1.75x 1.61x 1.83x 1.88x 1.86x 1.83x 1.81x 1.73x
EV / Revenue 2.09x 1.9x 3.05x 2.39x 2.54x 2.34x 2.17x 1.84x
EV / EBITDA 8.29x 12.9x 20.1x 14.5x 14.4x 12.8x 11.8x 11.2x
EV / EBIT 10.6x 20.1x 32.8x 22.9x 21.5x 22.9x 20.3x 17.9x
EV / FCF 35.1x 13.6x 76.8x 8.77x 14.1x 15.2x 18.8x -
FCF Yield 2.85% 7.35% 1.3% 11.4% 7.09% 6.58% 5.31% -
Dividend per Share 2 3.4 2.3 2.1 2.2 2.3 2.041 1.951 1.56
Rate of return 7.67% 5.61% 5.07% 5.45% 6.18% 5.62% 5.37% 4.29%
EPS 2 4.7 3.63 3.28 3.85 2.99 3.349 3.35 3.11
Distribution rate 72.3% 63.4% 64% 57.1% 76.9% 60.9% 58.2% 50.2%
Net sales 1 89,655 90,341 80,183 76,297 71,039 70,394 71,088 74,444
EBITDA 1 22,616 13,341 12,216 12,549 12,575 12,815 13,101 12,259
EBIT 1 17,686 8,571 7,460 7,964 8,406 7,192 7,609 7,674
Net income 1 15,068 12,016 10,883 12,890 10,030 12,367 12,640 -
Net Debt 1 30,333 26,593 97,949 39,168 48,718 35,746 25,192 8,153
Reference price 2 44.30 41.00 41.45 40.40 37.20 36.35 36.35 36.35
Nbr of stocks (in thousands) 3,545,572 3,545,928 3,546,563 3,546,563 3,546,563 3,546,563 - -
Announcement Date 3/31/22 A 3/16/23 A 3/15/24 A 3/17/25 A 3/16/26 A - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.85x2.34x12.85x5.62% 4.03B
14.44x1.71x8.34x1.92% 54.47B
17.33x2.38x9.43x2.99% 41.72B
33.72x5.84x17.42x0.72% 34.2B
31.32x3.25x16.66x1.07% 31.67B
27.83x4.35x14.64x0.85% 31.91B
11.11x1.34x6.27x2.77% 27.46B
20.11x6.31x13.18x2.22% 23.41B
65.35x4.09x63.35x0.35% 20.01B
14.61x1.87x7.53x1.48% 19.68B
Average 24.67x 3.35x 16.97x 2% 28.86B
Weighted average by Cap. 24.11x 3.28x 15.20x 1.74%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Asia Cement Corporation

Historical PBR trend

Valuation ratios - PBR - Asia Cement Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Asia Cement Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Asia Cement Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - Asia Cement Corporation
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