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Siam Cement

DB:TCM1
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TCM1
DB
฿395B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

The Siam Cement Public Company Limited, together with its subsidiaries, engages in cement, building materials, chemicals, packaging, and investment businesses in Thailand, Vietnam, Indonesia, China, and internationally. The last earnings update was 56 days ago. More info.


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  • Siam Cement has significant price volatility in the past 3 months.
TCM1 Share Price and Events
7 Day Returns
4.6%
DB:TCM1
6.1%
Europe Basic Materials
4.3%
DE Market
1 Year Returns
-30%
DB:TCM1
-24.9%
Europe Basic Materials
-14.2%
DE Market
TCM1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Siam Cement (TCM1) 4.6% 4.6% -16.5% -30% -38.8% -39.3%
Europe Basic Materials 6.1% -12.6% -30.4% -24.9% -34.6% -32.1%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • TCM1 underperformed the Basic Materials industry which returned -24.9% over the past year.
  • TCM1 underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
TCM1
Industry
5yr Volatility vs Market

TCM1 Value

 Is Siam Cement undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Siam Cement to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Siam Cement.

DB:TCM1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 19 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:TCM1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 7.5%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.817 (1 + (1- 20%) (57.6%))
1.13
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.13 * 7.46%)
8.04%

Discounted Cash Flow Calculation for DB:TCM1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Siam Cement is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:TCM1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (THB, Millions) Source Present Value
Discounted (@ 8.04%)
2020 -7,694.33 Analyst x7 -7,121.70
2021 -2,765.07 Analyst x9 -2,368.82
2022 556.20 Analyst x5 441.03
2023 24,652.00 Analyst x1 18,092.77
2024 27,500.00 Analyst x1 18,680.95
2025 29,397.96 Est @ 6.9% 18,484.03
2026 30,783.83 Est @ 4.71% 17,914.94
2027 31,763.66 Est @ 3.18% 17,109.46
2028 32,434.20 Est @ 2.11% 16,170.46
2029 32,875.55 Est @ 1.36% 15,170.69
Present value of next 10 years cash flows ฿112,573.00
DB:TCM1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ฿32,875.55 × (1 + -0.39%) ÷ (8.04% – -0.39%)
฿388,436.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ฿388,436.66 ÷ (1 + 8.04%)10
฿179,247.25
DB:TCM1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ฿112,573.00 + ฿179,247.25
฿291,820.25
Equity Value per Share
(THB)
= Total value / Shares Outstanding
= ฿291,820.25 / 1,200.00
฿243.18
DB:TCM1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TCM1 represents 0.02766x of SET:SCC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.02766x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (THB) x Listing Adjustment Factor
= ฿ 243.18 x 0.02766
€6.73
Value per share (EUR) From above. €6.73
Current discount Discount to share price of €9.10
= -1 x (€9.10 - €6.73) / €6.73
-35.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Siam Cement is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Siam Cement's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Siam Cement's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TCM1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in THB ฿26.68
SET:SCC Share Price ** SET (2020-04-07) in THB ฿329
Europe Basic Materials Industry PE Ratio Median Figure of 33 Publicly-Listed Basic Materials Companies 9.79x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Siam Cement.

DB:TCM1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SET:SCC Share Price ÷ EPS (both in THB)

= 329 ÷ 26.68

12.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Siam Cement is overvalued based on earnings compared to the Europe Basic Materials industry average.
  • Siam Cement is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Siam Cement's expected growth come at a high price?
Raw Data
DB:TCM1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
5.4%per year
Europe Basic Materials Industry PEG Ratio Median Figure of 17 Publicly-Listed Basic Materials Companies 1.7x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:TCM1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.33x ÷ 5.4%

2.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Siam Cement is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Siam Cement's assets?
Raw Data
DB:TCM1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in THB ฿233.51
SET:SCC Share Price * SET (2020-04-07) in THB ฿329
Europe Basic Materials Industry PB Ratio Median Figure of 39 Publicly-Listed Basic Materials Companies 0.8x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:TCM1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SET:SCC Share Price ÷ Book Value per Share (both in THB)

= 329 ÷ 233.51

1.41x

* Primary Listing of Siam Cement.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Siam Cement is overvalued based on assets compared to the Europe Basic Materials industry average.
X
Value checks
We assess Siam Cement's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Basic Materials industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Basic Materials industry average (and greater than 0)? (1 check)
  5. Siam Cement has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TCM1 Future Performance

 How is Siam Cement expected to perform in the next 1 to 3 years based on estimates from 19 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Siam Cement expected to grow at an attractive rate?
  • Siam Cement's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Siam Cement's earnings growth is positive but not above the Germany market average.
  • Siam Cement's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TCM1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TCM1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts 5.4%
DB:TCM1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts 2.1%
Europe Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 4.9%
Europe Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:TCM1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in THB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TCM1 Future Estimates Data
Date (Data in THB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 463,389 53,316 36,478 11
2021-12-31 452,446 52,039 36,623 18
2020-12-31 425,666 48,064 32,371 17
2020-04-08
DB:TCM1 Past Financials Data
Date (Data in THB Millions) Revenue Cash Flow Net Income *
2019-12-31 437,980 59,817 32,014
2019-09-30 449,026 55,806 35,378
2019-06-30 461,214 53,163 38,646
2019-03-31 472,566 58,464 44,004
2018-12-31 478,438 61,687 44,748
2018-09-30 474,615 64,932 46,848
2018-06-30 464,525 67,013 49,211
2018-03-31 452,904 64,139 50,062
2017-12-31 450,921 60,692 55,041
2017-09-30 437,135 61,788 54,953
2017-06-30 429,664 64,779 57,207
2017-03-31 429,712 69,550 59,982

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Siam Cement's earnings are expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
  • Siam Cement's revenue is expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:TCM1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below

All data from Siam Cement Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TCM1 Future Estimates Data
Date (Data in THB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 29.53 38.50 20.93 11.00
2021-12-31 30.31 42.36 21.21 20.00
2020-12-31 25.80 31.60 16.37 15.00
2020-04-08
DB:TCM1 Past Financials Data
Date (Data in THB Millions) EPS *
2019-12-31 26.68
2019-09-30 29.48
2019-06-30 32.21
2019-03-31 36.67
2018-12-31 37.29
2018-09-30 39.04
2018-06-30 41.01
2018-03-31 41.72
2017-12-31 45.87
2017-09-30 45.79
2017-06-30 47.67
2017-03-31 49.99

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Siam Cement is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Siam Cement's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Siam Cement has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TCM1 Past Performance

  How has Siam Cement performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Siam Cement's growth in the last year to its industry (Basic Materials).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Siam Cement's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Siam Cement's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Siam Cement's 1-year earnings growth is negative, it can't be compared to the Europe Basic Materials industry average.
Earnings and Revenue History
Siam Cement's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Siam Cement Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TCM1 Past Revenue, Cash Flow and Net Income Data
Date (Data in THB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 437,979.88 32,014.28 56,056.57
2019-09-30 449,025.73 35,377.64 54,338.46
2019-06-30 461,214.18 38,646.27 55,932.49
2019-03-31 472,566.14 44,004.32 53,749.36
2018-12-31 478,437.64 44,748.34 53,858.03
2018-09-30 474,615.18 46,847.60 53,944.47
2018-06-30 464,524.87 49,211.03 52,188.53
2018-03-31 452,903.63 50,061.86 52,058.28
2017-12-31 450,921.00 55,041.25 52,173.25
2017-09-30 437,134.59 54,952.66 52,028.48
2017-06-30 429,663.67 57,206.95 51,157.76
2017-03-31 429,712.01 59,982.30 50,200.93
2016-12-31 423,442.37 56,084.19 49,990.50
2016-09-30 429,450.74 55,054.82 49,888.88
2016-06-30 435,390.97 49,964.94 49,709.60
2016-03-31 440,335.60 47,814.78 50,085.74
2015-12-31 439,613.70 45,399.71 49,255.88
2015-09-30 450,702.07 42,806.63 48,845.23
2015-06-30 464,079.73 41,652.70 47,570.33
2015-03-31 475,056.54 36,307.38 45,954.01
2014-12-31 487,545.10 33,615.33 44,876.05
2014-09-30 475,246.46 32,768.96 43,573.61
2014-06-30 464,831.25 34,715.00 42,554.07
2014-03-31 446,576.95 36,106.83 41,307.18
2013-12-31 434,251.22 36,522.25 40,004.60
2013-09-30 429,728.63 35,424.91 38,584.98
2013-06-30 420,155.02 32,047.46 37,562.99

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Siam Cement has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Siam Cement used its assets less efficiently than the Europe Basic Materials industry average last year based on Return on Assets.
  • Siam Cement's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Siam Cement's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Basic Materials industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Siam Cement has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TCM1 Health

 How is Siam Cement's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Siam Cement's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Siam Cement is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Siam Cement's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Siam Cement's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Siam Cement Company Filings, last reported 3 months ago.

DB:TCM1 Past Debt and Equity Data
Date (Data in THB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 327,743.13 227,096.38 44,221.77
2019-09-30 321,727.40 215,575.76 30,763.70
2019-06-30 324,893.34 216,666.07 39,847.66
2019-03-31 317,145.72 203,426.48 58,427.17
2018-12-31 317,869.10 205,319.37 50,381.21
2018-09-30 308,133.33 204,361.15 45,119.92
2018-06-30 313,430.35 206,544.33 62,131.61
2018-03-31 301,842.23 203,899.00 61,852.89
2017-12-31 301,824.91 208,938.96 56,907.64
2017-09-30 293,664.47 199,835.09 40,114.65
2017-06-30 292,466.17 192,818.08 41,257.75
2017-03-31 282,379.27 197,698.16 47,716.18
2016-12-31 281,618.12 193,876.39 40,798.66
2016-09-30 269,253.63 193,442.26 31,969.11
2016-06-30 265,585.06 194,732.19 38,840.56
2016-03-31 247,904.38 196,148.44 38,354.66
2015-12-31 243,005.72 202,603.16 34,587.71
2015-09-30 231,551.95 205,623.12 37,060.19
2015-06-30 231,401.66 203,609.63 39,093.24
2015-03-31 211,635.78 191,967.06 32,544.10
2014-12-31 209,317.03 195,952.57 27,053.22
2014-09-30 198,673.33 200,283.83 26,917.66
2014-06-30 197,384.58 196,499.07 28,636.46
2014-03-31 186,487.61 195,775.28 26,356.04
2013-12-31 186,761.65 186,128.11 24,417.94
2013-09-30 180,533.08 180,278.36 27,922.40
2013-06-30 174,994.79 185,006.81 35,109.70
  • Siam Cement's level of debt (69.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (93.6% vs 69.3% today).
  • Debt is well covered by operating cash flow (26.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.7x coverage).
X
Financial health checks
We assess Siam Cement's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Siam Cement has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TCM1 Dividends

 What is Siam Cement's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.26%
Current annual income from Siam Cement dividends. Estimated to be 4.26% next year.
If you bought €2,000 of Siam Cement shares you are expected to receive €85 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Siam Cement's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • Siam Cement's dividend is below the markets top 25% of dividend payers in Germany (4.61%).
Upcoming dividend payment

Purchase Siam Cement before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:TCM1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
Europe Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:TCM1 Future Dividends Estimate Data
Date (Data in ฿) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 14.21 10.00
2021-12-31 14.75 20.00
2020-12-31 12.93 15.00
2020-04-08
DB:TCM1 Past Annualized Dividends Data
Date (Data in ฿) Dividend per share (annual) Avg. Yield (%)
2020-01-29 14.000 4.317
2019-07-26 16.500 4.227
2019-03-27 18.000 3.895
2018-07-25 19.000 4.258
2018-01-24 19.000 4.096
2017-07-26 19.000 3.868
2017-03-29 21.000 4.032
2016-11-10 17.000 3.383
2016-10-26 17.000 3.390
2016-07-27 17.000 3.282
2016-01-27 16.000 3.434
2015-07-29 14.500 3.119
2015-01-28 12.500 2.402
2014-07-30 12.500 2.785
2014-02-20 12.500 2.886
2013-07-31 12.000 2.869
2013-01-30 11.000 2.396
2012-07-25 11.500 3.082
2012-02-22 12.500 3.711
2012-01-25 12.500 3.578
2011-07-27 13.500 4.274
2011-01-26 12.500 3.641
2010-07-29 9.500 3.008
2010-01-28 8.500 3.474
2009-07-30 5.500 2.555

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Siam Cement's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Siam Cement's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Siam Cement afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Siam Cement has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TCM1 Management

 What is the CEO of Siam Cement's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Roongrote Rangsiyopash
COMPENSATION ฿6,288,000
AGE 55
TENURE AS CEO 4.3 years
CEO Bio

Mr. Roongrote Rangsiyopash has been the Chief Executive Officer and President of The Siam Cement Public Company Limited since January 01, 2016. Mr. Rangsiyopash served as an Executive Vice President of The Siam Cement Public Company Limited since July 1, 2014. Mr. Rangsiyopash has been President of SCG Packaging Public Company Limited. Mr. Rangsiyopash was the Top Executive In-Charge of Finance at SCG Paper. He has played a major role in the environmental and legal disputes plaguing Map Ta Phut. Mr. Rangsiyopash served as Vice President for Production of TileCera Inc., U.S.A. He served as a Vice President and Chief Financial Officer of Siam Cement Public Co. Ltd. from July 1, 2005. He served as President of TileCera Inc. He served as a Corporate Planning Director of Siam Cement Public Company Limited until July 1, 2005. He has been the Chairman and Director at Thai Cane Paper Public Company Limited since January 1, 2011. Mr. Rangsiyopash serves as the Chairman of the Board of Quality Construction Products Public Company Limited from March 2, 2010 to May 11, 2010. He served the Chairman of Thai British Security Printing Public Company Limited from January 7, 2011 to November 23, 2015. He has been a Director of The Siam Cement Public Company Limited since March 25, 2015. He served as a Director of Thai Plastic and Chemicals Public Company Limited from October 30, 2012 to July 16, 2015 and previously served as its Director. He served as a Director of The Siam Cement Public Company Limited. He served as a Director of Quality Construction Products Public Company Limited since February 24, 2010. He served as a Director of Thai-German Ceramic Industry Public Co. Ltd. He served as a Director of PTT Chemical Public Company Limited (PTT Global Chemical Public Company Limited)(formerly, National Petrochemical Public Co. Ltd.) from December 7, 2005 to December 8, 2010. Mr. Rangsiyopash has a Bachelor of Engineering in Mining Engineering from Chulalongkorn University in 1985, an MS in Industrial Engineering from University of Texas (Arlington), U.S.A in 1987 and an M.B.A. (with Distinction) from Harvard Business School, U.S.A in 1993.

CEO Compensation
  • Roongrote's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Roongrote's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Siam Cement management team in years:

3.3
Average Tenure
55
Average Age
  • The tenure for the Siam Cement management team is about average.
Management Team

Roongrote Rangsiyopash

TITLE
President
COMPENSATION
฿6M
AGE
55
TENURE
4.3 yrs

Thammasak Sethaudom

TITLE
VP of Finance & Investment and CFO
AGE
50
TENURE
1.6 yrs

Pichit Leelaphantmetha

TITLE
Director of Corporate Accounting
AGE
55

Yuttana Jiamtragan

TITLE
Vice President of Corporate Administration
AGE
55

Tanawong Areeratchakul

TITLE
President of Chemicals Business
AGE
55

Nithi Patarachoke

TITLE
President of Cement-Building Materials Business
AGE
55

Pattanapong Ittipalin

TITLE
Head of Internal Audit
AGE
52

Wichan Jitpukdee

TITLE
President of Packaging Business

Worapol Jennapar

TITLE
Secretary to the Board of Directors

Aree Chavalitcheewingul

TITLE
President of Cementhai Holding Co.
AGE
56
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Siam Cement board of directors in years:

3.9
Average Tenure
70
Average Age
  • The tenure for the Siam Cement board of directors is about average.
Board of Directors

Satitpong Sukvimol

TITLE
Chairman
COMPENSATION
฿10M
AGE
70
TENURE
2 yrs

Roongrote Rangsiyopash

TITLE
President
COMPENSATION
฿6M
AGE
55
TENURE
5.1 yrs

Sumet Tantivejkul

TITLE
Independent Vice Chairman
COMPENSATION
฿7M
AGE
79
TENURE
2 yrs

Tarisa Watanagase

TITLE
Independent Director
COMPENSATION
฿7M
AGE
70
TENURE
7.1 yrs

Prasarn Trairatvorakul

TITLE
Independent Director
COMPENSATION
฿7M
AGE
67
TENURE
2.7 yrs

Pricha Attavipach

TITLE
Independent Director
COMPENSATION
฿7M
AGE
81
TENURE
21.1 yrs

Kan Trakulhoon

TITLE
Director
COMPENSATION
฿6M
AGE
63
TENURE
14.3 yrs

Chumpol NaLamlieng

TITLE
Independent Director
COMPENSATION
฿7M
AGE
72
TENURE
27.7 yrs

Kasem Watanachai

TITLE
Director
COMPENSATION
฿6M
AGE
78
TENURE
2.1 yrs

Thumnithi Wanichthanom

TITLE
Director
COMPENSATION
฿6M
AGE
61
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Siam Cement's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Siam Cement has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TCM1 News

Simply Wall St News

TCM1 Company Info

Description

The Siam Cement Public Company Limited, together with its subsidiaries, engages in cement, building materials, chemicals, packaging, and investment businesses in Thailand, Vietnam, Indonesia, China, and internationally. The company operates through Cement-Building Materials Business, Chemicals Business, Packaging Business, and Other segments. The Cement-Building Materials Business segment manufactures and sells grey cement, ready-mixed concrete, white cement, dry mortar, roof tiles, concrete paving blocks, ceramic tiles, sanitary wares, and sanitary fittings. It also distributes cement, building, and decorative products through distributors; and imports fuel products and waste paper. The Chemicals Business segment manufactures and sells olefins, polyolefins, and other chemical products. The Packaging Business segment manufactures and distributes paper and plastic packaging products, pulp, dissolving pulp, and printing and writing paper. The Other segment invests primarily in agricultural machine, automotive parts and components, and steel businesses, as well as other services. The Siam Cement Public Company Limited was founded in 1913 and headquartered in Bangkok, Thailand.

Details
Name: The Siam Cement Public Company Limited
TCM1
Exchange: DB
Founded: 1913
฿11,069,541,957
1,200,000,000
Website: http://www.scg.com
Address: The Siam Cement Public Company Limited
1 Siam Cement Road,
Bangsue,
Bangkok,
10800,
Thailand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SET SCC Common Shares The Stock Exchange of Thailand TH THB 02. Jan 1992
OTCPK SCVP.F SHS FGN REG Pink Sheets LLC US USD 27. Jun 2003
OTCPK SCVP.Y UNSPONSORED ADR Pink Sheets LLC US USD 18. Nov 2011
SET SCC-R THB1 (NVDR) The Stock Exchange of Thailand TH THB 20. Aug 2001
THAMSE SCC-F THB1 (ALIEN MARKET) Bangkok-Alien Market Stock Exchange TH THB 02. Jan 1992
OTCPK SCVU.F THB1 (NVDR) Pink Sheets LLC US USD 20. Aug 2001
DB TCM1 THB1 (ALIEN MARKET) Deutsche Boerse AG DE EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
0
Siam Cement employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 03:40
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/07
Last earnings filing: 2020/02/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.