EN DE

Cementir Holding (CEM) Fair Value & Analysis

Basic Materials · IT · Market cap €2.5B

CH Cementir Holding CEM · MI
Price€15.07
Fair Value€15.27
Upside+1.3%
Quality67/100
Watch Cementir Holding for free, get notified when fair value or trend changes. Watch for free
Mixed Growth
Thin margins · 5.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Narrow moat 42/100
Evidence: Medium Range €11.45 – €19.08 Share as image

Fair value as of: Jul 15, 2026

From 23 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from €22.56 to €15.27 (−32.3%) since Jun 24, 2026. Share price +5.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from €11.45 (bear) to €19.08 (bull), base €15.27. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 67/100 (solid quality) with medium evidence: read the verdict with care.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

€19.82 €4.76 Fair Value €15.27 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range €4.76 – €19.82 · fair‑value band €11.45 – €19.08 · the €15.07 price screens below the €15.27 fair value. Dashed = 300-day average. As of Jul 15, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Cementir Holding (CEM) currently trades at €15.07, while our model-based Fair Value estimate is €15.27, implying the stock looks roughly 1.3% fairly valued today. The Quality Score stands at 67/100 (solid 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.

Over the trailing twelve months, Cementir Holding generated revenue of €1.2B at a net margin of 5.9%. Revenue declined 6.2% year over year. It earns a return on equity of 10.9%. Net debt stands at €29.9M. Fundamentals as of Jul 15, 2026

Our scenario range runs from €11.45 (bear case) to €19.08 (bull case); at €15.07, 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 26% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 1%, CEM 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 BearBaseBull Evidence
Highest evidence
Growth DCF €18.78 €24.17 €31.11 80
Residual Income €10.62 €12.02 €20.51 76
Rev-Margin DCF €15.59 €21.09 €26.91 74
All 23 models by family
DCF Models
FCF DCF €18.36 €24.11 €31.82 38
Owner Earnings €19.12 €25.17 €33.27 31
5Y Revenue Exit €15.59 €20.86 €27.21 39
5Y EBITDA Exit €19.04 €26.91 €35.57 41
5Y P/E Exit €18.32 €25.65 €32.81 38
10Y Revenue Exit €16.24 €21.03 €26.71 36
10Y EBITDA Exit €18.64 €25.00 €32.59 37
10Y P/E Exit €18.20 €24.17 €30.66 35
Earnings-Based
Graham-Dodd €9.02 €19.39 €24.63 54
PEG = 1.0 €2.99 €4.27 €5.56 46
EPV €14.15 €15.83 €17.27 59
Multiples
P/E Multiple €16.92 €22.56 €28.20 63
P/S Multiple €11.86 €15.81 €19.77 58
P/B Multiple €16.92 €22.56 €28.20 55
EV/EBIT €19.50 €24.82 €30.13 53
EV/EBITDA €21.81 €27.90 €33.98 54
EV/Revenue €14.63 €19.37 €24.11 43
Asset-Based
NCAV (Graham) €5.96 €7.98 €11.92 50
Growth DCF
Growth DCF €18.78 €24.17 €31.11 80
Rev-Margin DCF €15.59 €21.09 €26.91 74
Economic Profit
Residual Income €10.62 €12.02 €20.51 76
ROIC Compounder €14.39 €16.62 €19.02 72
Growth Earnings
Growth-Adj P/E €12.66 €18.09 €23.52 68

Widest divergence: DCF Models (€24.17) versus Asset-Based (€7.98). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €1.2B
Revenue growth (YoY) -6.2%
Net margin 5.9%
Return on equity 10.9%
Free cash flow €231M FY2025
P/E ratio 13.6
More key figures
Operating margin 0.7%
EPS (TTM) €1.18
EPS growth (YoY) +12.9%
Net debt €29.9M FY2020

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 69 · Market factors (momentum, volatility) 45

Profitability 51
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 44
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

Cementir Holding N.V., together with its subsidiaries, operates in the building materials sector in Italy, Nordic and Baltic, Belgium, North America, Turkiye, Egypt, and the Asia Pacific. It operates through Cement, Ready-Mixed Concrete, Aggregates, Waste, and Other segments.

Full company description

Cementir Holding N.V., together with its subsidiaries, operates in the building materials sector in Italy, Nordic and Baltic, Belgium, North America, Turkiye, Egypt, and the Asia Pacific. It operates through Cement, Ready-Mixed Concrete, Aggregates, Waste, and Other segments. The company offers white cement under the Aalborg White brand for architectural, aesthetic, and structural applications; grey cement under the FUTURECEM brand; ready-mixed concrete for use in infrastructure, landscaping, industry and agriculture, energy and environment, buildings, and pre-stressed and prefabricated concrete products; and aggregates, such as natural sand, gravel, and crushed stones used in concrete and prefabricated products, asphalt, road foundations and engineering works, draining materials, and agricultural land applications. It also provides Aalborg Extreme self-compacting concrete for thin concrete products production, Aalborg Excel ready-to-use mortar for glass giber concrete, and Aalborg INBIND a white cementitious binder. In addition, the company engages in the purchase and sale clinker, cement, spare parts, pet-coke and coal fuels, and other construction materials; and provision of trading, design-phase assistance, technical and application support, warehousing, shipping and logistics, procurement management, goods forwarding, and digital solutions. Cementir Holding N.V. was incorporated in 1947 and is headquartered in Amsterdam, the Netherlands.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cementir Holding reported revenue of €1.6B in FY2025 versus €1.4B in FY2021, a compound +4.8%/yr. Reported net income was €206M in FY2025, compounding +16.2%/yr from FY2021.

Growth Quality 65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€1.6B
Latest YoY
−2.8%
Avg. growth/yr (3Y)
−1.6%
Avg. growth/yr (5Y)
+6.0%
Avg. growth/yr (12Y)
+4.2%
Revenue +4.8%/yr
FY21 €1.4B
FY22 €1.7B
FY23 €1.7B
FY24 €1.7B
FY25 €1.6B
Net income +16.2%/yr
FY21 €113M
FY22 €162M
FY23 €201M
FY24 €202M
FY25 €206M

Watch CEM: get an alert when its fair value changes →

Share or link this analysis
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Cite: Fair Value Calculator (2026). "Cementir Holding Fair Value". https://www.fairvalue-calculator.com/stock/CEM

Peer Group

Building Materials · 254 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 67 · Top 25%
Fair Value upside +1% · Above median
Return on equity (TTM) 11% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth -6% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 13.6× · Cheaper than median
P/B 1.55× · Pricier than 75% of peers
P/S (TTM) 2.35× · Pricier than 75% of peers
P/FCF 12.5× · Pricier than 75% of peers
EV/EBITDA 11.6× · 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 35 · sector 28
FUTURE 0 · sector 2
PAST 44 · sector 15
HEALTH 98 · sector 92
DIVIDEND 0 · sector 42

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 Jul 15, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

Compare Cementir Holding with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Basic Materials stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is Cementir Holding (CEM) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of €15.27 versus a price of €15.07, about +1% (fairly valued).
What is the fair value of CEM?
Our model-based fair value for Cementir Holding is €15.27 (as of Jul 15, 2026), built from audited fundamentals. The current price is €15.07.
What is the quality score of CEM?
Cementir Holding has a Quality Score of 67/100. 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 Cementir Holding (CEM)?
Cementir Holding reported trailing-twelve-month revenue of about €1.2B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of CEM?
The net profit margin of Cementir Holding is about 5.9%, meaning it keeps roughly 5.9% 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.

14 days Pro free · no card

Track Cementir Holding and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.