Titan Cement International S.A.

DB:TCJ Stock Report

Market Cap: €2.9b

Titan Cement International Valuation

Is TCJ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TCJ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TCJ (€37.95) is trading below our estimate of fair value (€58.36)

Significantly Below Fair Value: TCJ is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TCJ?

Key metric: As TCJ is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TCJ. This is calculated by dividing TCJ's market cap by their current earnings.
What is TCJ's PE Ratio?
PE Ratio9.7x
Earnings€295.63m
Market Cap€2.86b

Price to Earnings Ratio vs Peers

How does TCJ's PE Ratio compare to its peers?

The above table shows the PE ratio for TCJ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.6x
STO3 Sto SE KGaA
11.2x3.5%€736.4m
HEI Heidelberg Materials
11.4x7.8%€21.2b
NDA Aurubis
8.9x-6.2%€3.3b
SDF K+S
78.8x61.1%€2.0b
TCJ Titan Cement International
9.7x5.6%€2.9b

Price-To-Earnings vs Peers: TCJ is good value based on its Price-To-Earnings Ratio (9.7x) compared to the peer average (27.6x).

Price to Earnings Ratio vs Industry

How does TCJ's PE Ratio compare vs other companies in the European Basic Materials Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TCJ 9.7xIndustry Avg. 12.8xNo. of Companies9PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TCJ is good value based on its Price-To-Earnings Ratio (9.7x) compared to the European Basic Materials industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is TCJ's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TCJ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.7x
Fair PE Ratio14x

Price-To-Earnings vs Fair Ratio: TCJ is good value based on its Price-To-Earnings Ratio (9.7x) compared to the estimated Fair Price-To-Earnings Ratio (14x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TCJ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€37.95
€41.82
+10.2%
7.1%€47.60€39.00n/a5
Nov ’25€32.25
€40.10
+24.3%
2.8%€41.00€38.00n/a5
Oct ’25€35.50
€38.25
+7.7%
11.1%€41.00€29.00n/a6
Sep ’25€31.90
€38.25
+19.9%
11.1%€41.00€29.00n/a6
Aug ’25€32.45
€38.25
+17.9%
11.1%€41.00€29.00n/a6
Jul ’25€29.20
€35.92
+23.0%
15.9%€41.00€27.00n/a6
Jun ’25€30.60
€35.92
+17.4%
15.9%€41.00€27.00n/a6
May ’25€29.95
€30.67
+2.4%
4.1%€32.00€29.00n/a3
Apr ’25€26.20
€27.15
+3.6%
6.8%€29.00€25.30n/a2
Mar ’25€26.55
€26.15
-1.5%
3.3%€27.00€25.30n/a2
Feb ’25€23.25
€23.75
+2.2%
4.0%€25.30€23.00n/a4
Jan ’25€21.20
€21.75
+2.6%
14.5%€25.30€17.00n/a4
Dec ’24€19.36
€19.76
+2.1%
16.4%€23.70€15.00n/a5
Nov ’24€17.78
€19.16
+7.8%
16.9%€23.70€15.00€32.255
Oct ’24€16.46
€19.16
+16.4%
16.9%€23.70€15.00€35.505
Sep ’24€17.72
€19.16
+8.1%
16.9%€23.70€15.00€31.905
Aug ’24€18.92
€19.16
+1.3%
16.9%€23.70€15.00€32.455
Jul ’24€17.30
€16.98
-1.8%
23.0%€23.70€12.00€29.205
Jun ’24€16.22
€16.98
+4.7%
23.0%€23.70€12.00€30.605
May ’24€14.56
€16.98
+16.6%
23.0%€23.70€12.00€29.955
Apr ’24€14.24
€16.18
+13.6%
30.3%€23.70€10.00€26.204
Mar ’24€15.52
€15.18
-2.2%
34.5%€23.70€10.00€26.554
Feb ’24€14.32
€15.84
+10.6%
30.7%€23.70€10.00€23.255
Jan ’24€11.98
€15.84
+32.2%
30.7%€23.70€10.00€21.205
Dec ’23€12.30
€15.84
+28.8%
30.7%€23.70€10.00€19.365
Nov ’23€11.18
€15.84
+41.7%
30.7%€23.70€10.00€17.785

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

Arkema

€5.6b

Manufactures and sells specialty chemicals and advanced materials worldwide.

V1S

€74.15

7D

-1.4%

1Y

-20.4%

African Rainbow Minerals

R31.4b

Through its subsidiaries, operates as a diversified mining and minerals company in South Africa, Malaysia, and Switzerland.

EB9

R8.40

7D

-1.8%

1Y

-3.4%

Cabka

€66.7m

Manufactures and sells pallets and large containers made from recycled plastic in Europe, North America, and internationally.

7GW

€2.64

7D

3.9%

1Y

-57.0%