Fact based stock research
Asia Cement (TSEC:1102)

TW0001102002

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Asia Cement stock research in summary

acc.com.tw

ANALYSIS: With an Obermatt Combined Rank of 39 (worse than 61% compared with investment alternatives), Asia Cement (Construction Materials, Taiwan) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Asia Cement are low in value (priced high) with a consolidated Value Rank of 41 (worse than 59% of alternatives), show below-average growth (Growth Rank of 35), and are riskily financed (Safety Rank of 49), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 39, is a hold recommendation based on Asia Cement's financial characteristics. As the company Asia Cement's key financial metrics all exhibit below-average performance, such as low value (Obermatt Value Rank of 41), low growth (Obermatt Growth Rank of 35), and risky financing practices (Obermatt Safety Rank of 49), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. Such poor financial performance sometimes indicates that the company's business is all concentrated in some distant future. This is sometimes the case for high-tech or biotechnology companies. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and risky today. In such cases, the Obermatt Method has limited value as it is based on facts we can observe today. If the facts are all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that should only amount to a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	41
Growth Rank	35
Safety Rank	49
Combined Rank	39

Country	Taiwan
Industry	Construction Materials
Index	Low Emissions, Energy Efficient, Low Waste, Water Efficiency, FTSE Taiwan
Size class	Medium

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Asia Cement

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	51	46	45	41
GROWTH
GROWTH	51	21	39	35
SAFETY
SAFETY	57	48	39	49
SENTIMENT
SENTIMENT	98	56	56	^new
360° VIEW
360° VIEW	91	34	40	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Asia Cement is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	51	46	45	41
GROWTH
GROWTH	51	21	39	35
SAFETY
SAFETY	57	48	39	49
COMBINED
COMBINED	61	25	34	39

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Asia Cement the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 41 (worse than 59% compared with alternatives), Asia Cement shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Asia Cement. Expected dividend yields are higher than for 89% of comparable companies (a Dividend Yield rank of 89), making the stock attractive. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 61, which means that the stock price is lower compared with invested capital than for 61% of comparable investments. But in respect to sales and profits, the picture is reversed. Price-to-Sales is 22 which means that the stock price compared with what market professionals expect for future profits is higher than for 78% of comparable companies, indicating a low value concerning Asia Cement's sales levels. The Price-to-Profit ratio (also referred to as price-earnings (P/E) ratio) is also unfavorable for Asia Cement with a rank of 32. This means that the stock price, compared with what market professionals expect for future profits, is higher than for 68% of comparable companies, indicating a low value concerning Asia Cement's profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 41, is a hold recommendation based on Asia Cement's stock price compared with the company's operational size and dividend yields. The company seems confident that it can generate a reasonable return on invested capital, because it pays an above-average dividend while profits are below what you would expect for a company with this stock price. If you agree with this practice and believe that profits will return to higher levels, as the current dividend policy suggests, Asia Cement may be an attractive investment. If this is not the case, you may want to be careful with this stock as it is also expensive compared with its expected revenue levels. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	21	16	19	22
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	51	41	35	32
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	57	58	53	61
DIVIDEND YIELD
DIVIDEND YIELD	94	93	87	89
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	51	46	45	41

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Asia Cement; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 35 (better than 35% compared with alternatives), Asia Cement shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Asia Cement. Capital Growth has a rank of 84, which means that currently professionals expect the company to grow its invested capital more than 21% of its competitors. Investors welcomed this, visible in the Stock Returns rank of 55 (above 55% of alternative investments). But Sales Growth has only a rank of 17, which means that, currently, professionals expect the company to grow less than 83% of its competitors, and Profit Growth is also low at a rank of 21. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 35, is a hold recommendation for growth and momentum investors. This is an ambiguous picture. Revenue growth and capital growth are strong, but the growth in profit, which seems good, can also be an indication that growth momentum may be negative. The fact that stock returns have been above average doesn't help much, as stock returns are less reliable in showing a company’s future growth potential. Prices may perform well for the simple reason that investors were too pessimistic in the past and are now correcting their opinions and moving the stock price to a more reasonable level. As the growth picture is mixed for Asia Cement, investors may want to look at value and sentiment indicators for a well-rounded picture of this stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	35	46	35	17
PROFIT GROWTH
PROFIT GROWTH	38	37	43	21
CAPITAL GROWTH
CAPITAL GROWTH	54	30	38	84
STOCK RETURNS
STOCK RETURNS	57	39	67	55
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	51	21	39	35

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Asia Cement.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 49 (better than 49% compared with alternatives), the company Asia Cement has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Asia Cement is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Asia Cement. Liquidity is at 51, meaning the company generates more profit to service its debt than 51% of its competitors. This indicates that the company is safer when it comes to debt service. But Refinancing is riskier at a rank of 37, which means that the portion of the debt that is about to be refinanced is above average. It has more debt in the refinancing stage than 63% of its competitors. Leverage is also high at a rank of 42, which means that the company has an above-average debt-to-equity ratio. It has more debt than 58% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 49 (worse than 51% compared with alternatives), Asia Cement has a financing structure that is riskier than that of its competitors. High Leverage (a low Obermatt Leverage Rank) is good in good times, because it usually indicates that shareholders get higher returns. The good Liquidity performance of the company is an indicator that this is the case. However, if you expect an economic downturn, you may stay clear of this stock because they have an above-average debt level that needs refinancing soon. If the company is sailing with good winds, as may be visible from the Growth and Sentiment performance, the refinancing risk may be lower than the low Refinancing rank suggests. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	32	30	33	42
REFINANCING
REFINANCING	59	55	50	37
LIQUIDITY
LIQUIDITY	59	46	44	51
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	57	48	39	49

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Asia Cement and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	14	7	^new
OPINIONS CHANGE
OPINIONS CHANGE	72	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	92	56	56	^new
MARKET PULSE
MARKET PULSE	100	93	93	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	98	56	56	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Asia Cement.
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