City Cement Co (3003) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of City Cement Co SAR 13.48, price SAR 10.11, upside +33.3%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 10.03 SAR – 24.84 SAR · fair‑value band 10.05 SAR – 18.42 SAR · the 10.11 SAR price screens below the 13.48 SAR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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City Cement Company, together with its subsidiaries, manufactures and sells cement in the Kingdom of Saudi Arabia. The company provides ordinary portland cement for construction and plastering works, concrete pipe, and block and tile industry; and concrete structure works.
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City Cement Company, together with its subsidiaries, manufactures and sells cement in the Kingdom of Saudi Arabia. The company provides ordinary portland cement for construction and plastering works, concrete pipe, and block and tile industry; and concrete structure works. It also offers sulphate resistant cement for wastewater treatment plants, coastal ports and platforms, and dams and land infrastructure; and green finishing cement. In addition, the company involves in import and operation of radioactive devices of its plants, processing waste, industrial, agricultural, and municipal waste, as well as produces alternative fuels. The company was founded in 2005 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.
Stock analysis
City Cement Co (3003) currently trades at 10.11 SAR, while our model-based Fair Value estimate is 13.48 SAR, implying the stock looks roughly 25.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 12.47 SAR per share, and 14 of the 24 models we run sit above the 10.11 SAR price.
Bear case: the Dividend Discount group reads lowest at 6.17 SAR, and 10 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 10.05 SAR (bear) to 18.42 SAR (bull), the price of 10.11 SAR 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 65/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
City Cement Co reported revenue of 520M SAR in FY2025 versus 497M SAR in FY2021, a compound +1.1%/yr. Reported net income was 129M SAR in FY2025, compounding −5.3%/yr from FY2021.
Key figures
Market cap 1.4B SAR (≈ $377M) · P/E ratio 13.1 · P/S ratio 3.26 · EPS (TTM) 0.7700 SAR · Dividend yield 11.4% · Net margin 24.8% · Return on equity 5.9% · Return on assets (EBIT) 6.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at 33%, 3003 screens cheaper than that median.
Fair Value models
Bear 10.05 SARFair Value 13.48 SARBull 18.42 SAR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−0.2%
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.
+6.4%
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.
−1.9%
Start year 2020 (pandemic). Over 10 years: −0.8% 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.
+1.5%
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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.
+5.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.5%
Dividend (yield on the price)11.4%
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.−6% vs −5%, steady
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.38% → 22%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−13.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Saudi Arabia: IMF forecast 2.1% a year to 2030, 1.7% from 2016 to 2025) that is about −14.9% a year for the price.
Price, fair value, quality and upside side by side.
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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 · 258 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+33% · Above median
Profitability
Return on equity (TTM)6% · Above median
Return on assets3% · Above median
Net margin (TTM)22% · Top 25%
Operating margin (TTM)22% · Top 25%
Growth and dividend
Revenue growth−20% · Bottom 25%
Dividend yield (TTM)11.4% · Top 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
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Cite: Fair Value Calculator (2026). "City Cement Co Fair Value". https://www.fairvalue-calculator.com/stock/3003
Frequently asked questions
Is City Cement Co (3003) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 13.48 SAR versus a price of 10.11 SAR, about +33% upside (undervalued).
What is the fair value of 3003?
Our model-based fair value for City Cement Co is 13.48 SAR (as of Sep 23, 2026), built from audited fundamentals. The current price: 10.11 SAR.
What is the quality score of 3003?
City Cement Co has a Quality Score of 65/100. 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 City Cement Co (3003)?
Our model-based price target is the fair value of 13.48 SAR (as of Sep 23, 2026) from 24 valuation models. Cautious scenario 10.05 SAR, optimistic scenario 18.42 SAR. It is a calculation from audited fundamentals, not an analyst target.
What is the City Cement Co stock forecast for 2026?
Our models put fair value at 13.48 SAR, about +33% upside versus a price of 10.11 SAR (undervalued). Cautious scenario 10.05 SAR, optimistic scenario 18.42 SAR. The calculation is refreshed regularly with new filings.
What is the revenue of City Cement Co (3003)?
City Cement Co reported trailing-twelve-month revenue of about 490M SAR (latest available figure, as of Sep 23, 2026).
Does City Cement Co pay a dividend?
City Cement Co currently shows a dividend yield of about 11.37% relative to its recent price (as of Sep 23, 2026).
What growth is priced into City Cement Co (3003)?
For today's price to be fair in a discounted-cash-flow model, City Cement Co would have to grow free cash flow by -13.2 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.9 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 3003 use?
Our models discount City Cement Co at 10.3 %: a base by market capitalisation (small), damped by beta 0.16, country premium for Saudi Arabia. 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 City Cement Co that is -13.2 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has City Cement Co (3003) delivered so far?
Over the past 5 years revenue at City Cement Co grew -1.9 % a year. The price currently implies -13.2 % per year free-cash-flow growth a 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 City Cement Co (3003) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into City Cement Co (-13.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of City Cement Co (3003)?
The free-cash-flow yield on the price is 11.35 %: that much free cash flow City Cement Co produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of City Cement Co (3003)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For City Cement Co it is 13.48 SAR per share (as of Sep 23, 2026), against a price of 10.11 SAR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is City Cement Co stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 3003 trades below its calculated fair value: price 10.11 SAR, fair value 13.48 SAR, a gap of about +33% (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 3003?
No. The price is what the market pays today (10.11 SAR); the fair value is what the company's own numbers justify (13.48 SAR). For City Cement Co the two are 3.37 SAR per share apart. That gap is exactly why we show both numbers side by side.
How much is City Cement Co worth?
The market values City Cement Co at about 1.4B SAR (market capitalisation, as of Sep 23, 2026). Per share that is 10.11 SAR; our models calculate a fair value of 13.48 SAR per share.
What do the bullish and bearish scenarios say about 3003?
Our models span a range for City Cement Co: cautious scenario 10.05 SAR, base 13.48 SAR, optimistic 18.42 SAR per share (as of Sep 23, 2026, price 10.11 SAR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3003?
City Cement Co trades at a price-to-earnings ratio of 13.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 13.48 SAR is built from several models across several years. Other multiples: P/B 0.2, P/S 0.8, EV/EBITDA 2.1.
How solid is the balance sheet of City Cement Co (3003)?
Balance-sheet figures for City Cement Co (as of Sep 23, 2026): return on equity 5.9%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 3003 from its 52-week high?
City Cement Co trades at 10.11 SAR, about 35% below its 52-week high of 15.53 SAR and 1% above the low of 10.03 SAR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 13.48 SAR is for.
Which stocks are comparable to City Cement Co?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, 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 City Cement Co stock attractive at the current price?
The data as of Sep 23, 2026: price 10.11 SAR, calculated fair value 13.48 SAR (+33%), Quality Score 65/100, from 24 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 3003 calculated?
We run City Cement Co through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 13.48 SAR, 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 13.0 % above its aggregate fair value. City Cement Co currently trades 33 % 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 City Cement Co (3003)?
The closing price on Sep 24, 2026 was 10.11 SAR. Our model-based fair value is 13.48 SAR, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with City Cement Co right now?
Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (10.05 SAR to 18.42 SAR) leaves room in how you read the outcome.
Where does the earnings growth of City Cement Co (3003) come from?
Earnings per share at City Cement Co grew −6.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −1.6 %, EBIT margin −7.0 %, tax rate −0.6 %, residual (interest, one-offs) +2.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of City Cement Co
How large is the market capitalisation of City Cement Co (3003)?
The market capitalisation of City Cement Co is 1.4B SAR (≈ $377M). 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 City Cement Co (3003)?
The price-to-sales ratio of City Cement Co is 3.26 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of City Cement Co (3003)?
Earnings per share at City Cement Co are 0.7700 SAR (price ÷ EPS = P/E 13.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of City Cement Co (3003)?
The dividend yield of City Cement Co is 11.4% (payout 149%). 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 City Cement Co (3003)?
The net margin of City Cement Co is 24.8% (fiscal year 2025). 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 City Cement Co (3003)?
The return on equity (ROE) of City Cement Co is 5.9% (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 City Cement Co (3003)?
On an EBIT basis the return on assets of City Cement Co is 6.3% (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 City Cement Co (3003)?
The operating margin of City Cement Co is 21.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at City Cement Co (3003)?
Revenue at City Cement Co is growing −19.7% versus a year earlier (3y avg +6.4%). 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 City Cement Co (3003)?
Earnings per share at City Cement Co are growing −41.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does City Cement Co (3003) hold?
City Cement Co holds more cash than debt, 12.6M SAR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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