Titan Cement International SA (TITC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Titan Cement International SA stock €51.50, price €45.54, upside +13.1%, quality 54 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range €8.87 – €57.26 · fair‑value band €34.83 – €67.31 · the €45.54 price screens below the €51.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Titan S.A., together with its subsidiaries, engages in the production, trade, and distribution of construction materials in Greece, the Balkans, Europe, Egypt, Türkiye, Italy, France, the United States, and Brazil.
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The company offers cement; ready-mix concrete; aggregates, such as sand, gravel, crushed stone, and recycled concrete; dry mortars, building blocks, and other concrete products, as well as fly ash for roads, bridges, airports, hospitals, schools, residential housing, commercial buildings, and social projects.
It also provides transportation and distribution services.
In addition, the company manages various non-hazardous wastes, including wood, iron and steel, aluminum, cables, construction and demolition wastes, packaging, paper, electrical and electronic equipment, glass, and plastic; and handles hazardous wastes such as used oils, contaminated materials, filter materials, batteries, and lighting lubes.
Further, it is involved in the import and distribution of cement; processing of fly ash; owns and develop real estate; sales of fly ash processing equipment; real estate brokerage; renting and leasing of machines, equipment, and material goods; provision of financial and preventing maintenance services; quarries; alternative fuels; and insurance business.
The company was formerly known as Titan Cement International S.A. and changed its name to Titan S.A. in May 2025. Titan S.A. was founded in 1902 and is based in Brussels, Belgium.
Stock analysis
Titan Cement International SA (TITC) currently trades at €45.54, while our model-based Fair Value estimate is €51.50, implying the stock looks roughly 12% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €54.09 per share, and 19 of the 26 models we run sit above the €45.54 price.
Bear case: the Asset-Based group reads lowest at €14.39, and 7 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: €34.83 (bear) to €67.31 (bull), the price of €45.54 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Titan Cement International SA reported revenue of €2.7B in FY2025 versus €1.7B in FY2021, a compound +11.7%/yr. Reported net income was €236M in FY2025, compounding +26.6%/yr from FY2021.
Key figures
Market cap €3.6B Mid · P/E ratio 10.6 · P/S ratio 1.29 · EPS (TTM) €4.28 · Dividend yield 2.4% · Net margin 11.6% · Return on equity 16.7% · Return on assets (EBIT) 9.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −21% fair-value upside, at 13%, TITC screens cheaper than that median.
Fair Value models
Bear€34.83Fair Value €51.50Bull€67.31
Price €45.54 · Upside +13.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€2.73 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.7%
Start year 2020 (pandemic). Over 10 years: +6.7% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+40.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+37.8%
Dividend (yield on the price)2.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.37.8% vs 22.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.6% → 16%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +4.6% a year for the price and +5.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (51 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Enhanced financial flexibility from deleveraging and investment-grade status supports acquisitions and decarbonization projects, yet exposure to cyclical construction demand and volatile energy costs limits durability.
Main risk: Cyclical construction demand together with volatile energy costs in key regions could pressure margins and cash flows in cement and building materials operations.
Titan's recent upgrade to investment-grade status validates years of deleveraging and reliable cash flows under the Forward 2029 strategy. This shift should ease access to cheaper capital for acquisitions and decarbonization projects in its cement and building materials operations. Does the improved financial flexibility outweigh exposure to cyclical construction demand and volatile energy costs in key regions?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Building Materials · 257 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+13.1% · Above median
Profitability
Return on equity (12 months)16.7% · Top 25%
Return on assets6.8% · Top 25%
Net margin (12 months)11.6% · Top 25%
Operating margin (12 months)15.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)13.5% · Above median
Dividend yield (12 months)2.4% · Above median
Balance sheet
Debt / equity0.27× · Above median
Valuation Multiplesvs Building Materials median · lower = cheaper
P/E (12 months)10.6× · Cheapest 25%
P/B1.83× · Priciest 25%
P/S (12 months)1.29× · Pricier than median
Price / free cash flow (fiscal year)16.9× · Pricier than median
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Cite: Fair Value Calculator (2026). "Titan Cement International SA Fair Value". https://www.fairvalue-calculator.com/stock/TITC
Frequently asked questions
Is Titan Cement International SA (TITC) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of €51.50 versus a price of €45.54, about +13% upside (undervalued).
What is the fair value of TITC?
Our model-based fair value for Titan Cement International SA is €51.50 (as of Nov 8, 2026), built from audited fundamentals. The current price: €45.54.
What is the quality score of TITC?
Titan Cement International SA has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Titan Cement International SA (TITC)?
Our model-based price target is the fair value of €51.50 (as of Nov 8, 2026) from 26 valuation models. Cautious scenario €34.83, optimistic scenario €67.31. It is a calculation from audited fundamentals, not an analyst target.
What is the Titan Cement International SA stock forecast for 2026?
Our models put fair value at €51.50, about +13% upside versus a price of €45.54 (undervalued). Cautious scenario €34.83, optimistic scenario €67.31. The calculation is refreshed regularly with new filings.
What is the revenue of Titan Cement International SA (TITC)?
Titan Cement International SA reported trailing-twelve-month revenue of about €2.8B (latest available figure, as of Nov 8, 2026).
Does Titan Cement International SA pay a dividend?
Titan Cement International SA currently shows a dividend yield of 2.42% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Titan Cement International SA (TITC) and when is the ex-dividend date?
Titan Cement International SA pays a dividend of €1.10 per share a year, a dividend yield of 2.4%. The last ex-dividend date was Jul 1, 2026. A dividend has been paid every year since at least 2020. The payout ratio is 25.7% of earnings. Free cash flow covers the dividend 2.57 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Titan Cement International SA (TITC)?
For today's price to be fair in a discounted-cash-flow model, Titan Cement International SA would have to grow free cash flow by +6.9 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.7 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of TITC use?
Our models discount Titan Cement International SA at 9.6 %: a base by market capitalisation (mid), damped by beta 0.74, country premium for Belgium. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Titan Cement International SA that is +6.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Titan Cement International SA (TITC) delivered so far?
Over the past 5 years revenue at Titan Cement International SA grew +10.7 % a year. The price currently implies free-cash-flow growth of +6.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Titan Cement International SA (TITC) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Titan Cement International SA (+6.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Titan Cement International SA (TITC)?
The free-cash-flow yield on the price is 5.91 %: that much free cash flow Titan Cement International SA produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Titan Cement International SA (TITC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Titan Cement International SA it is €51.50 per share (as of Nov 8, 2026), against a price of €45.54. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Titan Cement International SA stock overvalued or undervalued in 2026?
As of Nov 8, 2026, TITC trades below its calculated fair value: price €45.54, fair value €51.50, a gap of about +13% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TITC?
No. The price is what the market pays today (€45.54); the fair value is what the company's own numbers justify (€51.50). For Titan Cement International SA the two are €5.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Titan Cement International SA worth?
The market values Titan Cement International SA at about €3.6B (market capitalisation, as of Nov 8, 2026). Per share that is €45.54; our models calculate a fair value of €51.50 per share.
What do the bullish and bearish scenarios say about TITC?
Our models span a range for Titan Cement International SA: cautious scenario €34.83, base €51.50, optimistic €67.31 per share (as of Nov 8, 2026, price €45.54). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TITC?
Titan Cement International SA trades at a price-to-earnings ratio of 10.6 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €51.50 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings, FY2025 ex one-offs: 10.8. Other multiples: P/B 1.8, P/S 1.3, EV/EBITDA 6.0.
How solid is the balance sheet of Titan Cement International SA (TITC)?
Balance-sheet figures for Titan Cement International SA (as of Nov 8, 2026): return on equity 16.7%, debt of 0.27 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is TITC from its 52-week high?
Titan Cement International SA trades at €45.54, about 20% below its 52-week high of €57.26 and 17% above the low of €39.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €51.50 is for.
Which stocks are comparable to Titan Cement International SA?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, Vulcan Materials Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Titan Cement International SA stock attractive at the current price?
The data as of Nov 8, 2026: price €45.54, calculated fair value €51.50 (+13%), Quality Score 54/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TITC calculated?
We run Titan Cement International SA through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €51.50 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Titan Cement International SA currently trades 12% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Titan Cement International SA (TITC)?
The closing price on Nov 6, 2026 was €45.54. Our model-based fair value is €51.50, about +13% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Titan Cement International SA right now?
A fairly wide model range (€34.83 to €67.31) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Titan Cement International SA
How large is the market capitalisation of Titan Cement International SA (TITC)?
The market capitalisation of Titan Cement International SA is €3.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Titan Cement International SA (TITC)?
The price-to-sales ratio of Titan Cement International SA is 1.29 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Titan Cement International SA (TITC)?
Earnings per share at Titan Cement International SA are €4.28 (price ÷ EPS = P/E 10.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Titan Cement International SA (TITC)?
The dividend yield of Titan Cement International SA is 2.4% (payout 25.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Titan Cement International SA (TITC)?
The net margin of Titan Cement International SA is 11.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Titan Cement International SA (TITC)?
The return on equity (ROE) of Titan Cement International SA is 16.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Titan Cement International SA (TITC)?
On an EBIT basis the return on assets of Titan Cement International SA is 9.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Titan Cement International SA (TITC)?
The operating margin of Titan Cement International SA is 15.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Titan Cement International SA (TITC)?
Revenue at Titan Cement International SA is growing +13.5% versus a year earlier (3y avg +5.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Titan Cement International SA (TITC)?
Earnings per share at Titan Cement International SA are growing +260% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Titan Cement International SA (TITC) carry?
The net debt of Titan Cement International SA is €214M (fiscal year 2025, ≈ 1.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 8, 2026