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Steppe Cement

AIM:STCM
Snowflake Description

Outstanding track record with flawless balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
STCM
AIM
£64M
Market Cap
  1. Home
  2. GB
  3. Materials
Company description

Steppe Cement Ltd., an investment holding company, produces and sells cement in Kazakhstan. The last earnings update was 60 days ago. More info.


Add to Portfolio Compare Print
  • Steppe Cement has significant price volatility in the past 3 months.
STCM Share Price and Events
7 Day Returns
3.6%
AIM:STCM
0.9%
GB Basic Materials
0.5%
GB Market
1 Year Returns
3.6%
AIM:STCM
8.3%
GB Basic Materials
2.8%
GB Market
STCM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Steppe Cement (STCM) 3.6% 5.5% 1% 3.6% 81.3% -18.3%
GB Basic Materials 0.9% -2.2% 6.3% 8.3% 27.6% 61.2%
GB Market 0.5% 1.7% 3.7% 2.8% 8.5% 4.3%
1 Year Return vs Industry and Market
  • STCM underperformed the Basic Materials industry which returned 8.3% over the past year.
  • STCM matched the United Kingdom of Great Britain and Northern Ireland Market (2.8%) over the past year.
Price Volatility
STCM
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Steppe Cement's competitors could be found in our database.

STCM Value

 Is Steppe 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 Steppe 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 Steppe Cement.

AIM:STCM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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 AIM:STCM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.898 (1 + (1- 24%) (13.04%))
0.991
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.991 * 5.96%)
7.13%

Discounted Cash Flow Calculation for AIM:STCM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Steppe 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.

AIM:STCM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.13%)
2020 14.00 Analyst x1 13.07
2021 13.00 Analyst x1 11.33
2022 13.00 Analyst x1 10.57
2023 13.00 Analyst x1 9.87
2024 12.84 Est @ -1.22% 9.10
2025 12.78 Est @ -0.48% 8.45
2026 12.78 Est @ 0.03% 7.89
2027 12.83 Est @ 0.39% 7.39
2028 12.91 Est @ 0.64% 6.95
2029 13.02 Est @ 0.82% 6.54
Present value of next 10 years cash flows $91.00
AIM:STCM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $13.02 × (1 + 1.23%) ÷ (7.13% – 1.23%)
$223.12
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $223.12 ÷ (1 + 7.13%)10
$112.01
AIM:STCM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $91.00 + $112.01
$203.01
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $203.01 / 219.00
$0.93
AIM:STCM Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of AIM:STCM)
0.777
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $0.93 x 0.777
£0.72
Value per share (GBP) From above. £0.72
Current discount Discount to share price of £0.29
= -1 x (£0.29 - £0.72) / £0.72
59.8%

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

Current Discount
Amount off the current price Steppe Cement is available for.
Intrinsic value
>50%
Share price is £0.29 vs Future cash flow value of £0.72058
Current Discount Checks
For Steppe Cement to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Steppe Cement's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Steppe Cement's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Steppe Cement's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Steppe Cement's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:STCM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.05
AIM:STCM Share Price ** AIM (2019-11-11) in GBP £0.29
AIM:STCM Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.286 $0.37
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PE Ratio Median Figure of 9 Publicly-Listed Basic Materials Companies 13.3x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 752 Publicly-Listed Companies 16.8x

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

** Primary Listing of Steppe Cement.

AIM:STCM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:STCM Share Price ÷ EPS (both in USD)

= 0.37 ÷ 0.05

6.92x

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

  • Steppe Cement is good value based on earnings compared to the GB Basic Materials industry average.
  • Steppe Cement is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Steppe Cement's expected growth come at a high price?
Raw Data
AIM:STCM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
0.2%per year
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PEG Ratio Median Figure of 6 Publicly-Listed Basic Materials Companies 2.33x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 555 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

AIM:STCM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.92x ÷ 0.2%

29.22x

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

  • Steppe Cement is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Steppe Cement's assets?
Raw Data
AIM:STCM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $0.23
AIM:STCM Share Price * AIM (2019-11-11) in GBP £0.29
AIM:STCM Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.286 $0.37
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PB Ratio Median Figure of 10 Publicly-Listed Basic Materials Companies 1.46x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,305 Publicly-Listed Companies 1.5x
AIM:STCM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:STCM Share Price ÷ Book Value per Share (both in USD)

= 0.37 ÷ 0.23

1.59x

* Primary Listing of Steppe Cement.

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

  • Steppe Cement is overvalued based on assets compared to the GB Basic Materials industry average.
X
Value checks
We assess Steppe 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. Steppe Cement has a total score of 4/6, 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.

STCM Future Performance

 How is Steppe Cement expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
0.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Steppe Cement expected to grow at an attractive rate?
  • Steppe Cement's earnings growth is positive but not above the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Steppe Cement's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Steppe Cement's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:STCM Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:STCM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 0.2%
AIM:STCM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 0.5%
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 9.1%
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 3.8%

*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
AIM:STCM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:STCM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 87 21 12 1
2022-12-31 86 22 13 1
2021-12-31 85 22 13 1
2020-12-31 84 23 13 1
2019-12-31 83 23 13 1
2019-11-11
AIM:STCM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 86 21 12
2019-03-31 84 20 10
2018-12-31 82 19 9
2018-09-30 77 18 5
2018-06-30 72 17 2
2018-03-31 69 15 2
2017-12-31 66 12 1
2017-09-30 61 10 1
2017-06-30 56 8 1
2017-03-31 54 9 1
2016-12-31 52 10 0
2016-09-30 63 14 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Steppe Cement's earnings are expected to grow by 0.2% yearly, however this is not considered high growth (20% yearly).
  • Steppe Cement's revenue is expected to grow by 0.5% 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
AIM:STCM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Steppe Cement Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:STCM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.06 0.06 0.06 1.00
2022-12-31 0.06 0.06 0.06 1.00
2021-12-31 0.06 0.06 0.06 1.00
2020-12-31 0.06 0.06 0.06 1.00
2019-12-31 0.06 0.06 0.06 1.00
2019-11-11
AIM:STCM Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.05
2019-03-31 0.05
2018-12-31 0.04
2018-09-30 0.02
2018-06-30 0.01
2018-03-31 0.01
2017-12-31 0.01
2017-09-30 0.01
2017-06-30 0.01
2017-03-31 0.00
2016-12-31 0.00
2016-09-30 -0.01

*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.
  • Steppe Cement is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Steppe 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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
Steppe 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.

STCM Past Performance

  How has Steppe 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 Steppe 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.
  • Steppe Cement has delivered over 20% year on year earnings growth in the past 5 years.
  • Steppe Cement's 1-year earnings growth exceeds its 5-year average (563.5% vs 66.6%)
  • Steppe Cement's earnings growth has exceeded the GB Basic Materials industry average in the past year (563.5% vs 30.3%).
Earnings and Revenue History
Steppe 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 Steppe Cement Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:STCM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 86.47 11.80 21.52
2019-03-31 84.33 10.36 21.68
2018-12-31 82.18 8.92 21.84
2018-09-30 77.02 5.35 20.76
2018-06-30 71.85 1.78 19.69
2018-03-31 68.85 1.50 18.38
2017-12-31 65.86 1.23 17.07
2017-09-30 60.73 1.27 15.38
2017-06-30 55.60 1.31 13.70
2017-03-31 54.04 0.75 13.41
2016-12-31 52.48 0.18 13.13
2016-09-30 62.57 -1.22 14.31
2016-06-30 72.66 -2.62 15.49
2016-03-31 83.14 -3.00 18.30
2015-12-31 93.63 -3.38 21.12
2015-09-30 101.58 -4.72 25.24
2015-06-30 109.52 -6.06 29.35
2015-03-31 113.08 -7.00 30.32
2014-12-31 116.63 -7.94 31.29
2014-09-30 121.04 -1.91 31.62
2014-06-30 125.44 4.11 31.96
2014-03-31 126.71 7.28 32.23
2013-12-31 127.98 10.45 32.50
2013-09-30 125.17 10.57 31.34
2013-06-30 122.36 10.69 30.18
2013-03-31 121.26 9.52 30.53
2012-12-31 120.17 8.36 30.88

*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.
  • Steppe Cement has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Steppe Cement used its assets more efficiently than the GB Basic Materials industry average last year based on Return on Assets.
  • Steppe Cement has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Steppe 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.
Steppe Cement has a total score of 6/6, 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.

STCM Health

 How is Steppe 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 Steppe Cement's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Steppe Cement is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Steppe Cement's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Steppe 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 covered by short term assets, assets are 2.9x 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 Steppe Cement Company Filings, last reported 4 months ago.

AIM:STCM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 51.44 10.65 10.78
2019-03-31 51.44 10.65 10.78
2018-12-31 55.96 11.82 5.72
2018-09-30 55.96 11.82 5.72
2018-06-30 55.08 17.77 3.65
2018-03-31 55.08 17.77 3.65
2017-12-31 59.52 20.03 3.05
2017-09-30 59.52 20.03 3.05
2017-06-30 60.15 28.06 1.75
2017-03-31 60.15 28.06 1.75
2016-12-31 58.04 26.42 1.02
2016-09-30 58.04 26.42 1.02
2016-06-30 55.29 31.43 2.50
2016-03-31 55.29 31.43 2.50
2015-12-31 56.73 30.68 2.41
2015-09-30 56.73 30.68 2.41
2015-06-30 112.92 49.79 5.87
2015-03-31 112.92 49.79 5.87
2014-12-31 117.69 57.45 9.30
2014-09-30 117.69 57.45 9.30
2014-06-30 125.08 54.16 3.12
2014-03-31 125.08 54.16 3.12
2013-12-31 154.63 40.79 4.30
2013-09-30 154.63 40.79 4.30
2013-06-30 150.23 46.96 5.14
2013-03-31 150.23 46.96 5.14
2012-12-31 149.17 55.19 20.01
  • Steppe Cement's level of debt (20.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (43.4% vs 20.7% today).
  • Debt is well covered by operating cash flow (193.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.1x coverage).
X
Financial health checks
We assess Steppe 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. Steppe Cement has a total score of 6/6, 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.

STCM Dividends

 What is Steppe 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
9.7%
Current annual income from Steppe Cement dividends. Estimated to be 14.3% next year.
If you bought £2,000 of Steppe Cement shares you are expected to receive £194 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?
  • Steppe Cement's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.94%).
  • Steppe Cement's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.35%).
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
AIM:STCM 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 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.7%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 679 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 1.9%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

AIM:STCM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.05 1.00
2022-12-31 0.05 1.00
2021-12-31 0.05 1.00
2020-12-31 0.05 1.00
2019-12-31 0.05 1.00
2019-11-11
AIM:STCM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-13 0.036 10.339
2018-06-15 0.013 3.659
2016-09-13 0.000 0.000
2016-05-25 0.000 0.000
2015-09-11 0.000 0.000
2015-05-26 0.000 0.000
2014-10-02 0.029 6.928

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

  • Steppe Cement has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Steppe Cement only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Steppe Cement's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Steppe Cement's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Steppe Cement afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Steppe 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.

STCM Management

 What is the CEO of Steppe 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
Javier del Ser Perez
COMPENSATION $30,000
AGE 53
CEO Bio

Mr. Javier Del Ser Perez serves as Chief Executive Officer and Executive Director at Steppe Cement Ltd. Prior to joining Chagala Group in 2000, Mr. Del Ser Perez worked for 4 years for the Kazakhstan Asset Management Company managing the Kazakhstan Investment Fund, as a director responsible for launching the fund and identifying investment opportunities. Prior to this, he served as a Managing Director for Crescat Developments in Sri Lanka for 2.5 years responsible for construction and arranging financing and marketing the development of mixed use and hotel projects. He serves as Chairman of Central Asia Cement JSC and Central Asia Cement JSC. He serves as an Executive Director of Steppe Cement Ltd. He had served as a Non-Executive Director of Chagala Group Ltd from 2007 to October 12, 2018. He serves as a Non-Executive Director of Portola Limited, Mascam Kazakhstan, Almaty Land and Opera Holding. Mr. Del Ser Perez holds a Masters Degree in Structural Engineering from ETSI Caminos, Canales, y Puertos in Madrid and a Masters in Business Administration from HEC Jouy en Josas in France.

CEO Compensation
  • Javier's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Javier's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Javier del Ser Perez

TITLE
CEO & Executive Director
COMPENSATION
$30K
AGE
53

Peter Durnev

TITLE
General Director of Central Asia Cement JSC

George Ramesh

TITLE
General Director of Karcement Jsc
Board of Directors

Xavier Marcel Hervé Blutel - De Courbeville

TITLE
Non-Executive Chairman
COMPENSATION
$40K
AGE
66

Javier del Ser Perez

TITLE
CEO & Executive Director
COMPENSATION
$30K
AGE
53

Rupert Wood

TITLE
Non-Executive Director
COMPENSATION
$30K
AGE
48
TENURE
2.1 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 (£)
20. Jun 19 Sell Neon Liberty Capital Management, LLC Company 18. Jun 19 18. Jun 19 -500,000 £0.31 £-156,550
X
Management checks
We assess Steppe 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. Steppe 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.

STCM News

Simply Wall St News

What Type Of Shareholder Owns Steppe Cement Ltd.'s (LON:STCM)?

As Charlie Munger said 'Show me the incentive and I will show you the outcome.' Steppe Cement is not a large company by global standards. … Check out our latest analysis for Steppe Cement AIM:STCM Ownership Summary, August 26th 2019 What Does The Institutional Ownership Tell Us About Steppe Cement? … Insider Ownership Of Steppe Cement The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

What Do Analysts Think About Steppe Cement Ltd.'s (LON:STCM) Earnings Outlook?

(LON:STCM) announced its latest earnings update, which signalled that the business benefited from a substantial tailwind, more than doubling its earnings from the prior year. … Today I want to provide a brief commentary on how market analysts perceive Steppe Cement's earnings growth outlook over the next few years and whether the future looks even brighter than the past. … See our latest analysis for Steppe Cement Analysts' expectations for this coming year seems buoyant, with earnings increasing by a significant 52%.

Simply Wall St -

What Steppe Cement Ltd.'s (LON:STCM) ROE Can Tell Us

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Steppe Cement: 16% = US$8.9m ÷ US$56m (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does Steppe Cement Have A Good Return On Equity? … Combining Steppe Cement's Debt And Its 16% Return On Equity Steppe Cement has a debt to equity ratio of 0.21, which is far from excessive.

Simply Wall St -

Is Now The Time To Put Steppe Cement (LON:STCM) On Your Watchlist?

So if you're like me, you might be more interested in profitable, growing companies, like Steppe Cement (LON:STCM). … View our latest analysis for Steppe Cement How Fast Is Steppe Cement Growing Its Earnings Per Share? … I discovered that the median total compensation for the CEOs of companies like Steppe Cement with market caps under US$200m is about US$314k.

Simply Wall St -

Are Steppe Cement Ltd.’s (LON:STCM) High Returns Really That Great?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Steppe Cement: 0.20 = US$13m ÷ (US$82m - US$16m) (Based on the trailing twelve months to December 2018.) So, Steppe Cement has an ROCE of 20%. … How Steppe Cement's Current Liabilities Impact Its ROCE Current liabilities are short term bills and invoices that need to be paid in 12 months or less. … What We Can Learn From Steppe Cement's ROCE Low current liabilities and high ROCE is a good combination, making Steppe Cement look quite interesting.

Simply Wall St -

Should You Buy Steppe Cement Ltd. (LON:STCM) For Its 7.2% Dividend?

(LON:STCM) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if Steppe Cement is a new dividend aristocrat in the making. We'd agree the yield does look enticing. Some simple research can reduce the risk of buying Steppe Cement for its dividend - read on to learn more. Click the interactive chart for our full dividend analysis AIM:STCM Historical Dividend Yield, June 3rd 2019 Payout ratios Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. In the last year, Steppe Cement paid out 94% of its profit as dividends. Its payout ratio is quite high, and the dividend is not well covered by earnings. If earnings are growing or the company has a large cash balance, this might be sustainable - still, we think it is a concern. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Steppe Cement's cash payout ratio last year was 19%, which is quite low and suggests that the dividend was thoroughly covered by cash flow. While the dividend was not well covered by profits, at least they were covered by free cash flow. Even so, if the company were to continue paying out almost all of its profits, we'd be concerned about whether the dividend is sustainable in a downturn. Is Steppe Cement's Balance Sheet Risky? As Steppe Cement's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … We calculated its interest cover by measuring its earnings before interest and tax (EBIT), and dividing this by the company's net interest expense. Steppe Cement has EBIT of 9.35 times its interest expense, which we think is adequate. We update our data on Steppe Cement every 24 hours, so you can always get our latest analysis of its financial health, here. Dividend Volatility Before buying a stock for its income, we want to see if the dividends have been stable in the past, and if the company has a track record of maintaining its dividend. Looking at the data, we can see that Steppe Cement has been paying a dividend for the past five years. During the past five-year period, the first annual payment was US$0.029 in 2014, compared to US$0.038 last year. Dividends per share have grown at approximately 5.3% per year over this time. The dividends haven't grown at precisely 5.3% every year, but this is a useful way to average out the historical rate of growth. Dividends have grown at a reasonable rate, but with at least one substantial cut in the payments, we're not certain this dividend stock would be ideal for someone intending to live on the income. Dividend Growth Potential Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. Over the past five years, it looks as though Steppe Cement's EPS have declined at around 3.1% a year. Declining earnings per share over a number of years is not a great sign for the dividend investor. Without some improvement, this does not bode well for the long term value of a company's dividend. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Second, earnings per share have been in decline, and its dividend has been cut at least once in the past.

Simply Wall St -

Announcing: Steppe Cement (LON:STCM) Stock Increased An Energizing 135% In The Last Three Years

(LON:STCM) share price is 135% higher than it was three years ago. … In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … During three years of share price growth, Steppe Cement moved from a loss to profitability.

Simply Wall St -

Should Steppe Cement Ltd.’s (LON:STCM) Weak Investment Returns Worry You?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Should You Buy Steppe Cement Ltd. (LON:STCM) For Its Dividend?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … In the last few years Steppe Cement Ltd. … Let's take a look at Steppe Cement in more detail.

Simply Wall St -

Should Steppe Cement Ltd. (LON:STCM) Focus On Improving This Fundamental Metric?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Steppe Cement Ltd. … Our data shows Steppe Cement has a return on equity of 3.2% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

STCM Company Info

Description

Steppe Cement Ltd., an investment holding company, produces and sells cement in Kazakhstan. The company also engages in the provision of consultancy services; and transmission and distribution of electricity. Steppe Cement Ltd. is headquartered in Kuala Lumpur, Malaysia.

Details
Name: Steppe Cement Ltd.
STCM
Exchange: AIM
Founded:
£63,510,000
219,000,000
Website: http://www.steppecement.com
Address: Steppe Cement Ltd.
Rohas Perkasa,
Suite 10.1, 10th Floor,
Kuala Lumpur,
Wilayah Persekutuan, 50450,
Malaysia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM STCM Ordinary Shares London Stock Exchange AIM Market GB GBP 19. Sep 2005
DB ST9 Ordinary Shares Deutsche Boerse AG DE EUR 19. Sep 2005
Number of employees
Current staff
Staff numbers
735
Steppe Cement employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/11 20:53
End of day share price update: 2019/11/11 00:00
Last estimates confirmation: 2019/10/07
Last earnings filing: 2019/09/12
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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.