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Asia Cement (China) Holdings (0743) Fair Value & Analysis

Basic Materials · HK · Market cap HK$2.7B

AC Asia Cement (China) Holdings 0743 · HK
PriceHK$1.69
Fair ValueHK$2.16
Upside+27.8%
Quality47/100
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Weak Growth
Thin margins · 0.0% net margin
Low debt · negative free cash flow
Trails peers (3/10)
Narrow moat 18/100
Evidence: Medium Range HK$1.62 – HK$2.70 Share as image

Fair value as of: Aug 13, 2026

From 12 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$1.08 to HK$2.16 (+100.0%) since Aug 5, 2026. Share price −2.3% over the past month.

Below-average quality, screening 28% undervalued on our models.

What matters now

  • Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from HK$1.62 (bear) to HK$2.70 (bull), base HK$2.16. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 47/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

HK$6.00 HK$1.64 Fair Value HK$2.16 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$1.64 – HK$6.00 · fair‑value band HK$1.62 – HK$2.70 · the HK$1.69 price screens below the HK$2.16 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Asia Cement (China) Holdings (0743) currently trades at HK$1.69, while our model-based Fair Value estimate is HK$2.16, implying the stock looks roughly 27.8% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Trailing-twelve-month revenue stands at HK$5.0B. Revenue declined 11.2% year over year. Net debt stands at HK$459M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.62 (bear case) to HK$2.70 (bull case); at HK$1.69, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 44% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -60% fair-value upside, at 28%, 0743 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Residual Income HK$7.02 HK$6.40 HK$4.39 76
ROIC Compounder HK$1.30 HK$1.38 HK$1.45 72
Growth-Adj P/E HK$0.5000 HK$0.7100 HK$0.9200 68
All 12 models by family
Earnings-Based
Graham-Dodd HK$0.3700 HK$0.4500 HK$0.5100 54
EPV HK$1.30 HK$1.38 HK$1.45 59
Multiples
P/E Multiple HK$0.7000 HK$0.9300 HK$1.16 63
P/S Multiple HK$0.7000 HK$0.9300 HK$1.16 58
P/B Multiple HK$0.7000 HK$0.9300 HK$1.16 55
EV/EBIT HK$1.96 HK$2.36 HK$2.75 53
EV/EBITDA HK$2.00 HK$2.40 HK$2.80 54
EV/Revenue HK$1.81 HK$2.24 HK$2.68 43
Asset-Based
NCAV (Graham) HK$5.30 HK$7.10 HK$10.60 50
Economic Profit
Residual Income HK$7.02 HK$6.40 HK$4.39 76
ROIC Compounder HK$1.30 HK$1.38 HK$1.45 72
Growth Earnings
Growth-Adj P/E HK$0.5000 HK$0.7100 HK$0.9200 68

Widest divergence: Asset-Based (HK$7.10) versus Earnings-Based (HK$0.4500). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$5.0B
Revenue growth (YoY) -11.2%
Net margin 0.0%
Free cash flow −HK$359M FY2025
Operating margin -8.5%
EPS (TTM) HK$-0.0087
More key figures
EPS growth (YoY) -17.7%
Net debt HK$459M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 46 · Market factors (momentum, volatility) 28

Profitability 15
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Asia Cement (China) Holdings Corporation, an investment holding company, manufactures and sells cement, concrete, and related products in the People's Republic of China. It operates through Cement Business and Concrete Business segments.

Full company description

Asia Cement (China) Holdings Corporation, an investment holding company, manufactures and sells cement, concrete, and related products in the People's Republic of China. It operates through Cement Business and Concrete Business segments. The company offers Portland cement clinker, moderate and low heat Portland cement, slag powder, limestone powder, ash powder, ready-mix concrete, and other products. It also provides marketing and transportation services; and engages in the sale and storage of cement products. The company was incorporated in 2004 and is headquartered in Causeway Bay, Hong Kong. Asia Cement (China) Holdings Corporation is a subsidiary of Asia Cement Corporation.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Asia Cement (China) Holdings reported revenue of HK$5.1B in FY2025 versus HK$11.8B in FY2021, a compound −18.8%/yr. Reported net income was HK$85.7M in FY2025, compounding −53.1%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$5.1B
Latest YoY
−13.2%
Avg. growth/yr (3Y) 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.
−19.0%
Avg. growth/yr (5Y) 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.
−13.9%
Avg. growth/yr (20Y) 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.
+8.3%
Revenue −18.8%/yr
FY21 HK$11.8B
FY22 HK$9.6B
FY23 HK$7.4B
FY24 HK$5.9B
FY25 HK$5.1B
Net income −53.1%/yr
FY21 HK$1.8B
FY22 HK$420M
FY23 HK$106M
FY24 −HK$264M
FY25 HK$85.7M

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Cite: Fair Value Calculator (2026). "Asia Cement (China) Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0743

Peer Group

Building Materials · 259 stocks

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.

Quality Score 47 · Below median
Fair Value upside +28% · Above median
Return on assets 0% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) -9% · Bottom 25%
Revenue growth -11% · Bottom 25%

Valuation Multiples vs Building Materials median · lower = cheaper

P/S (TTM) 0.07× · Cheaper than 75% of peers
PEG 5.31× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 70 · sector 21
FUTURE 0 · sector 2
PAST 0 · sector 15
HEALTH 100 · sector 92
DIVIDEND 0 · sector 52

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
UltraTech Cement Limited ULTRACEMCO ₹11,891 ₹4,718 -60%
China Jushi Co 600176 ¥43.31 ¥13.22 -69%
Grasim Industries Limited GRASIM ₹3,308 ₹1,245 -62%
CEMEX, S.A. CEMEXCPO 21.71 MXN 12.27 MXN -43%
Anhui Conch Cement Company 600585 ¥17.49 ¥26.14 +49%
Ambuja Cements Limited AMBUJACEM ₹421.00 ₹216.73 -49%
Shree Cement Limited SHREECEM ₹25,570 ₹8,215 -68%
TCC Group 1101B 43.15 TWD 9.76 TWD -77%
Taiwan Glass Ind. Corp 1802 57.60 TWD 13.98 TWD -76%
J.K. Cement Limited JKCEMENT ₹5,349 ₹2,184 -59%

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Frequently asked questions

Is Asia Cement (China) Holdings (0743) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$2.16 versus a price of HK$1.69, about +28% (undervalued).
What is the fair value of 0743?
Our model-based fair value for Asia Cement (China) Holdings is HK$2.16 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.69.
What is the quality score of 0743?
Asia Cement (China) Holdings has a Quality Score of 47/100. 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 revenue of Asia Cement (China) Holdings (0743)?
Asia Cement (China) Holdings reported trailing-twelve-month revenue of about HK$5.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0743?
The net profit margin of Asia Cement (China) Holdings is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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