Présentation de l'entreprise
Cementos Pacasmayo S.A.A. (CPAC) engages in the production, distribution, and sale of cement and associated building materials within the Peruvian market. The enterprise operates across three distinct segments, specifically focusing on Cement, Concrete, Mortar and Precast; Quicklime; and the Sales of Construction Supplies, catering to residential and commercial construction needs. This entity is classified within the Basic Materials sector and the Building Materials industry, positioning it as a critical supplier for infrastructure and housing development. The company holds a market capitalization of $919.57M and generates annual revenue (TTM) of $2.12B, though the specific employee count is not disclosed in available data. These valuation and revenue figures suggest a significant operational scale, indicating that CPAC commands a substantial share of the local supply chain for construction inputs. The magnitude of its $2.12B revenue stream relative to its sub-$1B market cap highlights a business model where earnings retention or high operating leverage may be influencing its valuation multiple compared to pure-play peers.
Santé financière
The company reported a revenue (TTM) of $2.12B and a net income (TTM) of $154.20M, while EBITDA stands at $490.27M. The substantial gap between the $2.12B revenue and the $154.20M net income reveals a cost structure where operating expenses, including cost of goods sold and administrative costs, consume approximately 92.7% of top-line revenue before interest and taxes are factored in. Free cash flow is reported at $261.86M, which provides the company with significant financial flexibility to fund capital expenditures for cement production facilities or to service its debt obligations without relying on external equity issuance. Analysis of the three key margins shows a gross margin of 38.1%, an operating margin of 6.9%, and a profit margin of 7.3%; the gross margin indicates efficient production of cement and concrete, while the lower operating and profit margins reflect the high fixed costs and competitive pricing pressures inherent in the building materials sector. Regarding liquidity and leverage, the company holds $53.57M in cash against total debt of $1.43B, resulting in a debt-to-equity ratio of 119.89%, which characterizes a highly leveraged balance sheet typical for capital-intensive industries. The current ratio of 1.09 indicates that the company's current assets are only marginally higher than its current liabilities, suggesting tight short-term liquidity management where working capital is efficiently utilized but offers little buffer for sudden cash outflows. Return on Equity is 12.8% and Return on Assets is 6.9%, metrics that reveal how management effectiveness translates equity capital into shareholder value and asset base into earnings, respectively, with the ROE exceeding ROA due to the use of financial leverage.
Évaluation de la valorisation
The trailing twelve-month P/E ratio is 21.06, while the forward P/E is significantly higher at 69.74. This disparity between the trailing and forward multiples implies that the market is pricing in substantial expected earnings growth or that current earnings are suppressed by temporary factors, causing investors to pay a premium for anticipated future profitability. The price-to-book ratio stands at 2.70, indicating that the market values the company at a significant premium over its net book value, suggesting confidence in the quality of its tangible assets and brand. Alternative valuation metrics include a price-to-sales ratio of 0.43 and an EV/EBITDA of 12.18; the low P/S ratio suggests the company is valued on a conservative basis relative to its sales volume, while the EV/EBITDA provides a levered perspective on earnings quality that is comparable to other capital-intensive peers. Price metrics show a 52-week high of $11.50 and a 52-week low of $5.10, and without the specific current share price listed in the facts, the trading range indicates volatility, with the stock capable of trading anywhere between these established bounds depending on market sentiment. The beta value is 0.16, which signifies that the stock price exhibits very low volatility relative to the broader market, moving only about 16% of the magnitude of market swings, making it a defensive position within the Basic Materials sector.
Growth & Income
Revenue growth year-over-year is 6.2%, while earnings growth year-over-year is listed as N/A, preventing a direct comparison of the earnings growth rate versus the revenue growth rate in this specific period. The absence of reported earnings growth data alongside positive revenue growth suggests that margin compression or one-time costs may be impacting the bottom line despite top-line expansion. As a dividend payer, the company offers a dividend yield of 5.8% with a payout ratio of 115.8%; this payout ratio exceeds 100%, indicating that the company is distributing more in dividends than its current net income, which relies on retained earnings or cash flow rather than fresh profits to fund the payout. The sustainability of this dividend is questionable given the high payout ratio and the leveraged balance sheet, as maintaining the yield may require continued reliance on cash flow generation rather than earnings retention. The overall growth and income profile presents a company with solid top-line expansion and an attractive current yield, albeit with earnings data that is currently unavailable for direct growth analysis and a dividend policy that pushes the limits of traditional payout sustainability metrics.