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SCC

Siam Cement SET:SCC Stock Report

Last Price

฿366.00

Market Cap

฿439.2b

7D

0.3%

1Y

-12.0%

Updated

17 Aug, 2022

Data

Company Financials +
SCC fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance1/6
Financial Health2/6
Dividends3/6

SCC Stock Overview

The Siam Cement Public Company Limited, together with its subsidiaries, engages in the cement and building materials, chemicals, and packaging businesses in Thailand, Vietnam, Indonesia, China, and internationally.

Siam Cement Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Siam Cement
Historical stock prices
Current Share Price฿366.00
52 Week High฿436.00
52 Week Low฿355.00
Beta0.49
1 Month Change-1.61%
3 Month Change1.95%
1 Year Change-12.02%
3 Year Change-10.73%
5 Year Change-25.31%
Change since IPO537.63%

Recent News & Updates

Shareholder Returns

SCCTH Basic MaterialsTH Market
7D0.3%0.8%1.4%
1Y-12.0%-10.5%7.4%

Return vs Industry: SCC underperformed the TH Basic Materials industry which returned -9% over the past year.

Return vs Market: SCC underperformed the TH Market which returned 7.4% over the past year.

Price Volatility

Is SCC's price volatile compared to industry and market?
SCC volatility
SCC Average Weekly Movement2.0%
Basic Materials Industry Average Movement4.0%
Market Average Movement4.6%
10% most volatile stocks in TH Market10.1%
10% least volatile stocks in TH Market2.4%

Stable Share Price: SCC is less volatile than 75% of TH stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: SCC's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1913n/aRoongrote Rangsiyopashhttps://www.scg.com

The Siam Cement Public Company Limited, together with its subsidiaries, engages in the cement and building materials, chemicals, and packaging businesses in Thailand, Vietnam, Indonesia, China, and internationally. The company operates through Cement-Building Materials Business, Chemicals Business, Packaging Business, and Other segments. The Cement-Building Materials Business segment manufactures and distributes grey cement, ready-mixed concrete, white cement, dry mortar, roof tiles, ceiling and wall boards, wood substitutes, concrete paving blocks, ceramic tiles, and sanitary wares and fittings.

Siam Cement Fundamentals Summary

How do Siam Cement's earnings and revenue compare to its market cap?
SCC fundamental statistics
Market Cap฿439.20b
Earnings (TTM)฿33.90b
Revenue (TTM)฿579.52b

13.0x

P/E Ratio

0.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SCC income statement (TTM)
Revenue฿579.52b
Cost of Revenue฿486.02b
Gross Profit฿93.50b
Other Expenses฿59.59b
Earnings฿33.90b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 26, 2022

Earnings per share (EPS)28.25
Gross Margin16.13%
Net Profit Margin5.85%
Debt/Equity Ratio67.3%

How did SCC perform over the long term?

See historical performance and comparison

Dividends

4.4%

Current Dividend Yield

57%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

SCC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.4x
Enterprise Value/EBITDA12.8x
PEG Ratio0.7x

Price to Earnings Ratio vs Peers

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

SCC PE Ratio vs Peers
The above table shows the PE ratio for SCC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.8x
SCCC Siam City Cement
12x8.7%฿46.9b
TPIPL TPI Polene
4.7x-17.1%฿32.8b
TASCO Tipco Asphalt
15.5x3.4%฿26.8b
DRT Diamond Building Products
11x4.2%฿6.5b
SCC Siam Cement
13x18.5%฿439.2b

Price-To-Earnings vs Peers: SCC is expensive based on its Price-To-Earnings Ratio (13x) compared to the peer average (10.8x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: SCC is good value based on its Price-To-Earnings Ratio (13x) compared to the TH Basic Materials industry average (16.2x)


Price to Earnings Ratio vs Fair Ratio

What is SCC'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.

SCC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13x
Fair PE Ratio23.1x

Price-To-Earnings vs Fair Ratio: SCC is good value based on its Price-To-Earnings Ratio (13x) compared to the estimated Fair Price-To-Earnings Ratio (23.1x).


Share Price vs Fair Value

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

Below Fair Value: SCC (THB366) is trading below our estimate of fair value (THB487.51)

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


Analyst Price Targets

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

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


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Future Growth

How is Siam Cement forecast to perform in the next 1 to 3 years based on estimates from 21 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


18.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SCC's forecast earnings growth (18.5% per year) is above the savings rate (2%).

Earnings vs Market: SCC's earnings (18.5% per year) are forecast to grow faster than the TH market (18.2% per year).

High Growth Earnings: SCC's earnings are forecast to grow, but not significantly.

Revenue vs Market: SCC's revenue (7% per year) is forecast to grow slower than the TH market (9.4% per year).

High Growth Revenue: SCC's revenue (7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SCC's Return on Equity is forecast to be low in 3 years time (11.8%).


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Past Performance

How has Siam Cement performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-6.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SCC has high quality earnings.

Growing Profit Margin: SCC's current net profit margins (5.9%) are lower than last year (11%).


Past Earnings Growth Analysis

Earnings Trend: SCC's earnings have declined by 6.9% per year over the past 5 years.

Accelerating Growth: SCC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SCC had negative earnings growth (-32%) over the past year, making it difficult to compare to the Basic Materials industry average (-4.4%).


Return on Equity

High ROE: SCC's Return on Equity (7.5%) is considered low.


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Financial Health

How is Siam Cement's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SCC's short term assets (THB253.7B) exceed its short term liabilities (THB175.1B).

Long Term Liabilities: SCC's short term assets (THB253.7B) do not cover its long term liabilities (THB260.3B).


Debt to Equity History and Analysis

Debt Level: SCC's net debt to equity ratio (52.9%) is considered high.

Reducing Debt: SCC's debt to equity ratio has increased from 65.9% to 67.3% over the past 5 years.

Debt Coverage: SCC's debt is not well covered by operating cash flow (9.1%).

Interest Coverage: SCC's interest payments on its debt are well covered by EBIT (9.1x coverage).


Balance Sheet


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Dividend

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

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


4.37%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SCC's dividend (4.37%) is higher than the bottom 25% of dividend payers in the TH market (1.68%).

High Dividend: SCC's dividend (4.37%) is low compared to the top 25% of dividend payers in the TH market (5.39%).


Stability and Growth of Payments

Stable Dividend: SCC's dividend payments have been volatile in the past 10 years.

Growing Dividend: SCC's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (56.6%), SCC's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: SCC is paying a dividend but the company has no free cash flows.


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Management

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

0.6yrs

Average management tenure


CEO

Roongrote Rangsiyopash (58 yo)

6.58yrs

Tenure

฿6,008,000

Compensation

Mr. Roongrote Rangsiyopash has been the Chief Executive Officer and President of The Siam Cement Public Company Limited since January 01, 2016. Mr. Rangsiyopash served as an Executive Vice President of The...


Leadership Team

Experienced Management: SCC's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.


Board Members

Experienced Board: SCC's board of directors are considered experienced (4.4 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

The Siam Cement Public Company Limited's employee growth, exchange listings and data sources


Key Information

  • Name: The Siam Cement Public Company Limited
  • Ticker: SCC
  • Exchange: SET
  • Founded: 1913
  • Industry: Construction Materials
  • Sector: Materials
  • Implied Market Cap: ฿439.200b
  • Shares outstanding: 1.20b
  • Website: https://www.scg.com

Number of Employees


Location

  • The Siam Cement Public Company Limited
  • 1 Siam Cement Road
  • Bangsue
  • Bangkok
  • 10800
  • Thailand

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/17 00:00
End of Day Share Price2022/08/17 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.