Asia Cement Co.,Ltd.

183190.KS · Basic Materials · Building Materials · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

839.84M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

392.89M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

721.87M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

651.53M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

274.80M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

2.37×

the ratio the screener ranks by

Margin of Safety

+57.8%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 839.84M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)1.23B USD
−②Net Debt Today387.18M USD
+③Growth Value0 USD
=Value839.84M USD

EPV of the Operations (NOPAT over WACC)

1.23B USD

Net debt today

-387.18M USD

Growth Value

0 USD

Value

839.84M USD

①EPV (earnings power value)

1.23B USD

②Net Debt Today

387.18M USD

③Growth Value

0 USD

Market value

Market Cap274.80M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+67.3%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 392.89M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE129.55M USD
+②Equity at Year 15, Today263.35M USD
=Value392.89M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment rising to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

129.55M USD

②Equity at Year 15, Today

263.35M USD

Market value

Market Cap274.80M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+30.1%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 721.87M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 721.87M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap274.80M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+61.9%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 4.70%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.68×Market Risk Premium 6.00%= 8.59%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 6.79M USDPretax Income 18.23M USD= 37.23%

The tax the interest saves.

Interest Expense =EBIT 36.00M USD−Pretax Income 18.23M USD= 17.77M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 17.77M USDTotal Debt 464.13M USD×(1 − Tax Rate for WACC 37.23%)= 2.40%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 464.13M USDMarket Cap + Total Debt 274.80M USD + 464.13M USD= 62.81%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 37.19%×Cost of Equity 8.59%+Debt Weight 62.81%×Cost of Debt 2.40%= 4.70%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 1.40B USD − Total Liabilities 675.36M USD = Book Value Today 721.87M USD

Total Debt 464.13M USD − Cash and Short-Term Investments 76.95M USD = Net Debt Today 387.18M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-5.7%at most 5%passes35,978,272 / 38,135,000
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets3.8%at least -10.0%passes(65.03M USD − 11.76M USD) ÷ 1.40B USD
Price to bookMarket Cap ÷ Book Value Today0.38×at most 3×passes274.80M USD ÷ 721.87M USD
Operating marginOperating Income ÷ Revenue7.5%above 10.0%does not pass53.70M USD ÷ 712.01M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-6.0%above 10.0%does not pass712.01M USD / 757.43M USD
Net cash(Cash − Total Debt) ÷ Market Cap-145.9%above -30%does not pass(63.25M USD − 464.13M USD) ÷ 274.80M USD
Operating efficiencyOperating Income ÷ Gross Profit40.2%above 25.0%passes53.70M USD ÷ 133.58M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

10110.10 KRW

Enterprise value

972.96B KRW

the provider's own figure

EV / EBITDA

6.29×

Price / book

—

the provider's book

Price / earnings

—

Return on equity

1.0%

the provider's figure, not this page's

Profit margin

1.1%

Revenue growth

-2.3%

Analyst target, mean

15015.00 KRW

Analysts

3

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

826.17M940.38M757.43M712.01M

Gross profit

187.47M211.99M177.24M133.58M

Operating income

94.29M115.06M96.02M53.70M

EBITDA

operating income before depreciation and amortisation

144.08M170.45M147.27M99.53M

Pretax income

65.86M88.23M71.57M18.23M

Net income

50.46M70.19M55.53M11.76M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

54.87M75.50M61.32M22.30M

R&D

4.22M4.45M4.29M3.83M
Balance sheet, year end

Total assets

1.62B1.66B1.50B1.52B

Total liabilities

842.99M839.18M742.86M749.63M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

766.21M810.98M746.27M758.20M

Total debt

549.89M538.32M489.87M508.78M

Cash and equivalents

80.46M109.60M79.97M62.01M

Net PP&E

fixed assets after depreciation

885.24M912.62M858.03M880.60M

Working capital

current assets less current liabilities

55.71M26.76M-214.16M24.90M
Cash flow

Operating cash flow

68.72M155.41M114.82M65.03M

Capital expenditure

paid out, so below zero

-69.77M-116.46M-93.05M-93.52M

Depreciation and amortisation

58.64M61.53M57.68M63.53M

Free cash flow

operating cash flow plus capital expenditure

-1.05M38.95M21.77M-28.49M