Asia Cement Corporation

TWSE:1102 Stock Report

Market Cap: NT$145.1b

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$41.05) is trading above our estimate of fair value (NT$14.34)

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?

Key metric: As 1102 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1102. This is calculated by dividing 1102's market cap by their current earnings.
What is 1102's PE Ratio?
PE Ratio14x
EarningsNT$10.41b
Market CapNT$145.05b

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 Average16.8x
1101 TCC Group Holdings
27.4x12.4%NT$242.9b
2504 Goldsun Building Materials
11.5x-19.2%NT$56.3b
1104 Universal Cement
12.8xn/aNT$19.2b
9930 CHC Resources
15.5xn/aNT$16.7b
1102 Asia Cement
14x1.6%NT$145.1b

Price-To-Earnings vs Peers: 1102 is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (16.8x).

Price to Earnings Ratio vs Industry

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

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
1102 14.0xIndustry Avg. 17.6xNo. of Companies42PE01632486480+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1102 is good value based on its Price-To-Earnings Ratio (14x) compared to the Asian Basic Materials industry average (17.6x).

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 Ratio14x
Fair PE Ratio16.2x

Price-To-Earnings vs Fair Ratio: 1102 is good value based on its Price-To-Earnings Ratio (14x) compared to the estimated Fair Price-To-Earnings Ratio (16.2x).

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$41.05
NT$40.68
-0.9%
12.9%NT$46.00NT$30.10n/a6
Dec ’25NT$42.05
NT$40.68
-3.3%
12.9%NT$46.00NT$30.10n/a6
Nov ’25NT$46.30
NT$40.52
-12.5%
12.6%NT$46.00NT$30.10n/a6
Oct ’25NT$47.45
NT$40.52
-14.6%
12.6%NT$46.00NT$30.10n/a6
Sep ’25NT$45.10
NT$40.52
-10.2%
12.6%NT$46.00NT$30.10n/a6
Aug ’25NT$41.20
NT$39.85
-3.3%
12.2%NT$46.00NT$30.10n/a6
Jul ’25NT$44.20
NT$39.85
-9.8%
12.2%NT$46.00NT$30.10n/a6
Jun ’25NT$41.55
NT$39.85
-4.1%
12.2%NT$46.00NT$30.10n/a6
May ’25NT$43.70
NT$40.50
-7.3%
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$33.10NT$42.057
Nov ’24NT$40.00
NT$41.01
+2.5%
12.2%NT$52.00NT$33.10NT$46.308
Oct ’24NT$39.75
NT$41.41
+4.2%
13.1%NT$52.00NT$33.10NT$47.457
Sep ’24NT$40.30
NT$41.81
+3.8%
14.4%NT$52.00NT$31.90NT$45.107
Aug ’24NT$40.00
NT$43.12
+7.8%
15.1%NT$52.00NT$31.90NT$41.206
Jul ’24NT$44.40
NT$44.14
-0.6%
15.1%NT$52.00NT$31.90NT$44.205
Jun ’24NT$44.05
NT$45.30
+2.8%
13.5%NT$52.00NT$33.00NT$41.556
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

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 20:21
End of Day Share Price 2024/12/26 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Asia Cement Corporation is covered by 23 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jenny TsaiBNP Paribas Securities (Asia)
Shuai WangBofA Global Research
Yayue HsuehCapital Securities Corporation