PIOC

Pioneer CementKASE:PIOC Stock Report

Market Cap

PK₨21.6b

7D

-4.1%

1Y

-3.2%

Updated

23 Sep, 2021

Data

Company Financials +
PIOC fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance2/6
Financial Health0/6
Dividends0/6

PIOC Overview

Pioneer Cement Limited produces and sells cement in Pakistan and Afghanistan.

Price History & Performance

Summary of all time highs, changes and price drops for Pioneer Cement
Historical stock prices
Current Share PricePK₨95.09
52 Week HighPK₨82.50
52 Week LowPK₨146.13
Beta1.08
1 Month Change-23.13%
3 Month Change-26.54%
1 Year Change-3.22%
3 Year Change121.40%
5 Year Change-10.22%
Change since IPO456.55%

Recent News & Updates

Shareholder Returns

PIOCPK Basic MaterialsPK Market
7D-4.1%-4.9%-3.0%
1Y-3.2%-2.2%-1.7%

Return vs Industry: PIOC matched the PK Basic Materials industry which returned -2.2% over the past year.

Return vs Market: PIOC underperformed the PK Market which returned -1.7% over the past year.

Price Volatility

Is PIOC's price volatile compared to industry and market?
PIOC volatility
PIOC Beta1.08
Industry Beta0.72
Market Beta1

Stable Share Price: PIOC is not significantly more volatile than the rest of PK stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: PIOC's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19861,080Syed Iqbalhttps://www.pioneercement.com

Pioneer Cement Limited produces and sells cement in Pakistan and Afghanistan. It offers ordinary Portland cement and sulphate resistant cement. The company also exports its products.

Pioneer Cement Fundamentals Summary

How do Pioneer Cement's earnings and revenue compare to its market cap?
PIOC fundamental statistics
Market CapPK₨21.60b
Earnings (TTM)PK₨1.61b
Revenue (TTM)PK₨15.95b

13.4x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PIOC income statement (TTM)
RevenuePK₨15.95b
Cost of RevenuePK₨13.32b
Gross ProfitPK₨2.64b
ExpensesPK₨1.03b
EarningsPK₨1.61b

Last Reported Earnings

Mar 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)7.08
Gross Margin16.54%
Net Profit Margin10.07%
Debt/Equity Ratio188.2%

How did PIOC perform over the long term?

See historical performance and comparison

Valuation

Is Pioneer Cement undervalued compared to its fair value and its price relative to the market?

44.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PIOC (PKR95.09) is trading below our estimate of fair value (PKR170.4)

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


Price To Earnings Ratio

PE vs Industry: PIOC is poor value based on its PE Ratio (13.4x) compared to the PK Basic Materials industry average (9.5x).

PE vs Market: PIOC is poor value based on its PE Ratio (13.4x) compared to the PK market (8.6x).


Price to Earnings Growth Ratio

PEG Ratio: PIOC is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: PIOC is overvalued based on its PB Ratio (1.5x) compared to the PK Basic Materials industry average (1x).


Future Growth

How is Pioneer Cement forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

28.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PIOC's forecast earnings growth (28.5% per year) is above the savings rate (9.8%).

Earnings vs Market: PIOC's earnings (28.5% per year) are forecast to grow faster than the PK market (13% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PIOC's revenue (18.2% per year) is forecast to grow faster than the PK market (10.3% per year).

High Growth Revenue: PIOC's revenue (18.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PIOC's Return on Equity is forecast to be high in 3 years time (27.9%)


Past Performance

How has Pioneer Cement performed over the past 5 years?

-39.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PIOC has high quality earnings.

Growing Profit Margin: PIOC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: PIOC's earnings have declined by 39.8% per year over the past 5 years.

Accelerating Growth: PIOC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: PIOC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Basic Materials industry (28.3%).


Return on Equity

High ROE: PIOC's Return on Equity (11.1%) is considered low.


Financial Health

How is Pioneer Cement's financial position?


Financial Position Analysis

Short Term Liabilities: PIOC's short term assets (PKR7.7B) do not cover its short term liabilities (PKR15.6B).

Long Term Liabilities: PIOC's short term assets (PKR7.7B) do not cover its long term liabilities (PKR20.9B).


Debt to Equity History and Analysis

Debt Level: PIOC's debt to equity ratio (188.2%) is considered high.

Reducing Debt: PIOC's debt to equity ratio has increased from 0.08% to 188.2% over the past 5 years.

Debt Coverage: PIOC's debt is not well covered by operating cash flow (7.6%).

Interest Coverage: PIOC's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet


Dividend

What is Pioneer Cement current dividend yield, its reliability and sustainability?

6.70%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PIOC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PIOC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PIOC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PIOC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PIOC is not paying a notable dividend for the PK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PIOC's dividend in 3 years as they are not forecast to pay a notable one for the PK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.7yrs

Average management tenure


CEO

Syed Iqbal

0.25

Tenure

Mr. Syed Mazher Iqbal has been Chief Executive Officer at Pioneer Cement Limited since June 1, 2021. He serves as Chief Executive Officer at Haleeb Foods Limited since April 2020. Mr. Iqbal was an Advisor...


Leadership Team

Experienced Management: PIOC's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Members

Experienced Board: PIOC's board of directors are considered experienced (3.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pioneer Cement Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Pioneer Cement Limited
  • Ticker: PIOC
  • Exchange: KASE
  • Founded: 1986
  • Industry: Construction Materials
  • Sector: Materials
  • Market Cap: PK₨21.600b
  • Shares outstanding: 227.15m
  • Website: https://www.pioneercement.com

Number of Employees


Location

  • Pioneer Cement Limited
  • 135-Ferozepur Road
  • Lahore
  • Pakistan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/23 15:54
End of Day Share Price2021/09/23 00:00
Earnings2021/03/31
Annual Earnings2020/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.