Asia Cement Corporation

TWSE:1102 Stock Report

Market Cap: NT$155.9b

Asia Cement Valuation

Is 1102 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 1102 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1102 (NT$43.95) is trading above our estimate of fair value (NT$34.9)

Significantly Below Fair Value: 1102 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1102?

Other financial metrics that can be useful for relative valuation.

1102 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/Revenue2.5x
Enterprise Value/EBITDA16.9x
PEG Ratio7.4x

Price to Earnings Ratio vs Peers

How does 1102's PE Ratio compare to its peers?

The above table shows the PE ratio for 1102 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.7x
1101 Taiwan Cement
31.9x26.7%NT$244.0b
2504 Goldsun Building Materials
16.5x2.0%NT$58.1b
1104 Universal Cement
11.3xn/aNT$23.7b
9930 CHC Resources
19.3xn/aNT$16.2b
1102 Asia Cement
14.3x1.9%NT$155.9b

Price-To-Earnings vs Peers: 1102 is good value based on its Price-To-Earnings Ratio (14.3x) compared to the peer average (19.7x).

Price to Earnings Ratio vs Industry

How does 1102's PE Ratio compare vs other companies in the Asian Basic Materials Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.4%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.4%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: 1102 is good value based on its Price-To-Earnings Ratio (14.3x) compared to the Asian Basic Materials industry average (16.3x).

Price to Earnings Ratio vs Fair Ratio

What is 1102'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.

1102 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.3x
Fair PE Ratio19.7x

Price-To-Earnings vs Fair Ratio: 1102 is good value based on its Price-To-Earnings Ratio (14.3x) compared to the estimated Fair Price-To-Earnings Ratio (19.7x).

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 1102 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$43.95
NT$40.50
-7.8%
10.4%NT$45.00NT$32.00n/a6
Apr ’25NT$41.35
NT$40.29
-2.6%
9.7%NT$45.00NT$32.00n/a7
Mar ’25NT$40.15
NT$40.14
-0.02%
9.5%NT$45.00NT$32.00n/a7
Feb ’25NT$40.05
NT$40.14
+0.2%
9.5%NT$45.00NT$32.00n/a7
Jan ’25NT$41.45
NT$40.00
-3.5%
9.7%NT$45.00NT$32.00n/a7
Dec ’24NT$41.55
NT$40.16
-3.4%
8.9%NT$45.00NT$33.10n/a7
Nov ’24NT$40.00
NT$41.01
+2.5%
12.2%NT$52.00NT$33.10n/a8
Oct ’24NT$39.75
NT$41.41
+4.2%
13.1%NT$52.00NT$33.10n/a7
Sep ’24NT$40.30
NT$41.81
+3.8%
14.4%NT$52.00NT$31.90n/a7
Aug ’24NT$40.00
NT$43.12
+7.8%
15.1%NT$52.00NT$31.90n/a6
Jul ’24NT$44.40
NT$44.14
-0.6%
15.1%NT$52.00NT$31.90n/a5
Jun ’24NT$44.05
NT$45.30
+2.8%
13.5%NT$52.00NT$33.00n/a6
May ’24NT$43.95
NT$45.64
+3.9%
11.1%NT$52.00NT$35.00NT$43.707
Apr ’24NT$43.30
NT$44.69
+3.2%
12.0%NT$52.00NT$35.00NT$41.358
Mar ’24NT$44.10
NT$43.29
-1.8%
13.2%NT$52.00NT$35.00NT$40.157
Feb ’24NT$42.65
NT$43.29
+1.5%
13.2%NT$52.00NT$35.00NT$40.057
Jan ’24NT$41.00
NT$43.29
+5.6%
13.2%NT$52.00NT$35.00NT$41.457
Dec ’23NT$40.80
NT$43.71
+7.1%
11.8%NT$52.00NT$38.00NT$41.557
Nov ’23NT$37.55
NT$42.88
+14.2%
10.8%NT$52.00NT$38.00NT$40.008
Oct ’23NT$39.40
NT$43.44
+10.3%
9.8%NT$52.00NT$38.00NT$39.758
Sep ’23NT$42.35
NT$43.79
+3.4%
10.1%NT$52.00NT$38.00NT$40.307
Aug ’23NT$41.35
NT$45.09
+9.0%
12.6%NT$53.00NT$38.00NT$40.006
Jul ’23NT$44.20
NT$45.59
+3.1%
11.3%NT$53.00NT$40.00NT$44.406
Jun ’23NT$44.80
NT$46.33
+3.4%
10.7%NT$53.00NT$40.00NT$44.056
May ’23NT$48.10
NT$48.00
-0.2%
11.2%NT$57.00NT$41.00NT$43.956

Analyst Forecast: Target price is lower than the current share price.

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